DEPARTMENT OF LANDS AND SURVEY. DISCHARGED SOLDIERS SETTLEMENT. REPORT FOR THE YEAR ENDED 31st MARCH, 1933.

Appendix to the Journals of the House of Representatives, 1933 Session I, C-09

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1933. NEW ZEALAND.

DEPARTMENT OF LANDS AND SURVEY. DISCHARGED SOLDIERS SETTLEMENT. REPORT FOR THE YEAR ENDED 31st MARCH, 1933.

Presented to both Houses of the General Assembly pursuant to Section 14 of the Discharged Soldiers Settlement Act, 1915.

CONTENTS.

General Report— page Genera] Review .. .. • • • • ■ ■ ■ • "I Lands proclaimed .. .. ■ • • • • • ■ • .. I Applications received and Lands allotted .. .. • ■ 3 Dominion Revaluation Board (Report of) .. • • ■ • .. 3 Appendix :— Reports of Commissioners of Crown Lands .. .. . • .. 4 Tables— Table I.—Total Lands acquired by Discharged Soldiers .. .. 7 Table 2.—Statement of Mortgage Transactions .. .. .. 8 Discharged Soldiers Settlement Account — Transactions for Year .. .. • • • • • • .. 10 Balance-sheet ... .. • • • ■ • ■ ■ • .. 12

g IE Department of Lands and Survey, Wellington, Ist August, 1933. In accordance with the provisions of the Discharged Soldiers Settlement Act, 1915, I have the honour to submit herewith the report of the operations under the Act for the year ended 31st March, 1933. I have, &c, W. Robertson, The Hon. E. A. Ransom, Minister of Lands. Under-Secretary.

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GENERAL REVIEW. Discharged Soldiers Settlement Account. Loans authorized during the year number 613, involving a total amount of £97,902, as follows :—

The accounts published at the end of this report show the present position of the account, and give some idea of the action that has been necessary to meet the times. Whereas in the early years of the discharged-soldiers settlement the bulk of work originated from the settlement and rehabilitating of soldiers returned from service, to-day the problems are not so much those of fresh settlement, but rather the retention of existing mortgagors and protection of existing advances. In common with all other great lending institutions, the Lands Department has found that a period of falling prices following on boom years has made particularly difficult the administration of accounts where even in the good times there was not a great margin of security. As is only to be expected, the amounts outstanding on Sundry Debtors and Postponement Accounts have increased, rising from £661,651 at 31st March, 1932, to £794,964 at 31st March, 1933. Cash receipts for the year have also fallen by £82,468. The comparative figures of cash receipts on capital and revenue accounts for the last five years are :— 1928-29. 1929-30. 1930-31. 1931-32. 1932-33. £ £ £ £ £ Capital .. 1,205,892 1,054,123 749,090 668,396 625,316 Revenue .. 757,761 727,703 604,988 527,436 488,048 Total .. 1,963,653 1,781,826 1,354,078 1,195,832 1,113,364 It has been pointed out in previous reports that the administration of discharged-soldier settlement is not yet merely a matter of collection of rent and interest. The problems placed before the controlling authorities are many and varied and sympathetic guidance is still very necessary. The State did not meet its obligation to these men by merely putting them on the land; it has to do its utmost to keep them there. The reports received from the district offices indicate that the soldier settlers are, in the main, doing their best to meet their obligations. There is still a number who, from various causes, are not meeting the position ; but the Department is always willing and anxious to aid any genuine trier, and has repeatedly effected adjustment in order to re-establish a settler on a sound basis and to give him a reasonable chance to earn a livelihood on his farm. In my report last year I dealt very fully with the action being taken to help the soldier settlers and mortgagors. The then existing difficulties are still with us, and similar relief is being granted. The fact must not be lost sight of that the Department has two main duties —one to the -soldier mortgagor or lessee to see that he is being treated fairly, and the other to the general taxpayer to see that all things being taken into consideration the utmost revenue possible is collected. LANDS PROCLAIMED. The lands set apart for selection by discharged soldiers during the year totalled 2,835 acres, making a grand total of 1,445,799 acres proclaimed since the inception of the scheme. This large area is made up as follows : — Class of Land. . Area - Acres. Ordinary Crown lands .. .. .. .. .. 609,166 Land-for-settlements land .. .. .. .. 401,844 National-endowment land .. .. .. .... 431,433 Cheviot Estate land .. .. .. .. ... 3,356 1,445,799 te Proclamations have been issued revoking the setting-apart of 234,937 acres of Crown and national-endowment land and 102,193 acres of land-for-settlements land.

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New Loans. Additional Loans. Number. Amount. Number. Amount. —-—- £ £ Advances on current account .. .. .. 29 5,750 513 83,253 Advances on farms, &c. .. .. .. .. 2 950 9 3,069 Advances on dwellings .. .. .. .. 3 886 57 3,994 34 7,586 579 90,316

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APPLICATIONS FOR LAND. Applications for land under the Discharged Soldiers Settlement Act, 1915, to the number of twelve were received during the year. The following table gives the number of applications and the area allotted for each year from the inception of the soldier-settlement scheme : —

DOMINION REVALUATION BOARD. Summaby of Opebations as at 31st Maboh, 1933. Total capital invested (comprising capital values of Crown leaseholds and advances under £ section 2of the Discharged Soldiers Settlement Amendment Act, 1917) .. .. 17,244,237 Capital value dealt with by the Dominion Revaluation Board .. .. .. 12,528,835 Reduction in capital by the Dominion Revaluation Board — £ Reduction in capital value of leaseholds .. .. .. .. 2,017,485 Reduction in Crown mortgages (under section 2) .. . . .. 869, 200 2,886,685 Remission of Instalment Interest and Rent. Granted by Dominion Revaluation Board in respect of arrears as at 30th June, 1923 .. 194,763 Granted by Land Boards on recommendation of the Dominion Revaluation Board with respect to payments accruing subsequent to 30th June, 1923 .. .. .. 276,991 Total remissions .. .. .. .. .. .. £471,754 Mortgages, instalments, rents, &c, automatically written off due to reduction being £ retrospective to Ist July, 1921, or date of the title, &c. .. .. .. .. 439,492 Postponements of Arrears as at 30th June, 1923, granted by the Dominion Revaluation Board. £ Rent, principal, and instalment interest for periods up to ten years .. .. .. 316,475 Instalments to end of mortgage term .. .. .. .. .. 127,411 £443,886 Postponements of payments accruing subsequent to the 30th June, 1923, granted by Land £ Boards on the recommendation of Dominion Revaluation Board .. .. .. 149,188 Investigation of Current Accounts under the Discharged Soldiers Settlement Amendment Act, 1924. £ Total capital invested .. .. .. •■ •• •• •• ■• 3,222,649 Reduction of capital .. .. .. .. .. ■■ .- •• 201,390 Transferred to Suspense Account .. .. •. ■ ■ . • •. 23,257 Adjustments in Buildings under Land for Settlements Act. Original value .. .. .. .. .. .. .. .• •• 131,561 Amount of reduction .. .. .. •• •• ■■ ■• •• 19,579

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, Allotments made. „ .. Applications Year ending "' ■ d — : " Number. Area (Acres). 31st March, 1916 .. .. .. .. 272 2 629 1917 .. .. .. .. 522 319 143,524 1918 .. .. .. •• 513 313 103,362 1919 .. .. .. 1,379 348 117,018 1920 .. .. .. 5,041 932 403,891 „ 1921 .. .. .. .. 5,396 1,087 414,867 1922 .. .. .. .. 878 403 97,972 1923 .. .. .. .. 284 146 25,113 „ 1924 .. .... .. 216 79 16,910 1925 123 47 9,014 1926 .. .. .. 109 86 20,500 1927 78 66 17,412 1928 .. .. .. .. 96 60 15,695 1929 .. .. .. .. 90 77 13,275 1930 63 53 16,665 1931 .. .. .. .. 41 31 8,495 1932 22 16 4,215 1933 .. .. ■ .. 12 6 4,133 Totals for eighteen years .. .. 15,135 4,071 1,432,690

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APPENDIX. EXTEACTS FROM REPORTS OF COMMISSIONERS OF CROWN LANDS. NORTH AUCKLAND. (W. D. Armit, Commissioner of Crown Lands.) General conditions in regard to soldier settlement have shown an improvement in management, but prices and factors outside the control of the farmers have necessitated postponements and remissions being granted in deserving cases. Settlers and mortgagors in curtailing capital expenditure on improvements have shown commendable energy in carrying out, unaided, works for which they might have reasonably been granted assistance. In herd-management the soldier settlers to-day compare favourably with the majority of farmers, and the position is reflected in the increased returns they are obtaining. During the year the position regarding house properties has become accentuated by unemployment, and the continued effect of reduced incomes. The Land Board has endeavoured to meet the position by granting relief in postponing principal payments and adjusting mortgages. Notwithstanding the concessions granted, a number of soldiers have found it impossible even to meet interest charges, and have abandoned their homes. In these cases the properties have been let on weekly tenancies at a rental in most cases sufficient to meet interest on the capital charges. AUCKLAND. . (K. M. Graham, Commissioner of Crown Lands.) The large number of dairying soldier settlers in this district is experiencing a most difficult time. Butterfat prices showed a marked further drop, and the payout for the season will not average more than 9d. Fortunately, the season was a good one, and the average production showed a marked increase. As far as sheep-farmers were concerned, the position showed no improvement. Wool prices remained much the same and lamb prices fell. The Land Board held a special meeting and they recommend such relief in respect of rent and mortgage charges on farm properties as was considered to be deserving in each case. Owners of house properties have also been experiencing a difficult time owing to the prevailing depression, and it has unfortunately been found necessary to exercise power of sale in a few cases. It is worthy of note that the Mortgagors' Relief Commission upheld the action of the Department in practically every case in which an appeal was lodged. In many cases substantial relief has been given to mortgagors of house properties by adjustment of mortgages for a fresh term where, owing to unemployment or reduced incomes, such mortgagors have been unable to keep their payments up to date under the original mortgages. GISBORNE. (H. L. Primrose, Commissioner of Crown Lands.) Soldier settlers generally are not behind the rest of the farming community in their ability to face adverse economic conditions, and most of them are doing as well on " economy rations " as can reasonably be expected. They have not been slow to avail themselves of every source of revenue open to them, nor to take full advantage of unemployment schemes, where possible, for the improvement of their holdings. In a few instances work has had to be obtained for some of the small holders under Scheme 4a, the Commissioner acting as employer. Dairy-farmers have endeavoured to increase their output both by herd-testing and by increasing herds. All advances have been reduced to baie necessaries, and no new advances granted. A still further reduction of revenue must be expected, chiefly on account of the increase in the number of owners of house properties who are unemployed. HAWKE'S BAY. (J. F. Quinn, Commissioner of Crown Lands.) Like the ordinary settler, the soldier settler has had a hard time during the past year, the price of wool being practically stationary at a very low level, and the price of butterfat having fallen considerably during the season. The majority of the settlers are finding it difficult to meet their obligations to the Crown, but the Department is assisting as far as possible by making advances for working-expenses when the stock is under security to the Crown, and by granting postponements or remissions where necessary in order to keep the settlers on the land. House Properties. —Considerable difficulty is being experienced in collecting instalments of interest and principal, as quite a number of mortgagors are now on the unemployed list and are unable to pay their instalments in full. Assistance is being given by adjusting mortgages in order to reduce the payments, or by accepting payment of interest in the meantime. Hunter Soldiers' Assistance Trust Board. —The Board held seven meetings during the year, and loans totalling £2,445 were granted to soldier settlers for improving their farms. Grants to the amount of £105 were approved in the cases of eighteen orphan children of deceased soldiers.

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TARANAKI. (F. H. Waters, Commissioner of Crown Lands.) The past year has required a careful husbanding of the Department's resources in relation to soldier settlement. The present indications are that all preconceived ideas of successful establishment must be revised, owing to the loss of equities and margins carefully built up by the soldier farmers in previous years. In grazing districts where revenue is confined to wool and store lamb, with a small turnover on cattle, the living and essential working expenses have again absorbed most of the revenue. The fat lamb has yielded as satisfactory return as any class of farming and properties capable of rearing fat lamb have shown a decidedly better return. The high costs of production on dairying iarms, such as power charges for milking-plants, manurial costs to even maintain existing pastures, and transport costs, combined with the steady decrease in dairy-produce prices, necessitates the utmost care in administering this class of account. The Land Board and Department have treated, farm maintenance as a first call on revenue, realizing that the immediate concern is to keep the farms in production. Nevertheless, eighteen discharged-soldiers-settlement farm securities have reverted to the Department during the year. In some cases farms were abandoned and in a few cases the Department took steps to realize its security. The Department is farming five properties, pending a resale of these areas. Difficulty is being experienced by an increasing number of mortgagors in meeting commitments in respect of house properties. Loss of employment compels a cessation of payments, and this is particularly noticeable where previously rebates have been constantly earned for prompt payment over a period of years. Recapitalization of charges and suspension of principal payments have assisted in a large number of cases, where reduced incomes necessitate some form of relief. Twelve house properties reverted to the Department during the year, and ten have been disposed of. At present there are sixteen houses on hand, fourteen of which are tenanted. WELLINGTON. (H. W. C. Mackintosh, Commissioner of Crown Lands.) As the areas farmed by discharged soldiers are situated right throughout the land district, the observations made upon the settlement of ordinary Crown lands will apply to these lands also. The income of these men from the sale of primary products has been so restricted that, in many cases, especially those of pastoralists, only enough has been received to pay working and living expenses. With their restricted incomes settlers have not been able to provide fertilizers for their pastures, and the Department has advanced money for this purpose where necessary. . - < The soldier settlers have also been assisted by granting them postponements of their payments, while, in many instances, considerable sums owing as rent and interest have been remitted. The occurrence of the slump at this time is most unfortunate, as settlers were just beginning to feel the benefit of the liberal concessions granted by the Dominion Revaluation Board in recent years. But for the depression it is fair to assume that these settlers would have been not only well established, but also meeting all their obligations. . '_',' In the southern part of the Wairarapa a severe drought was experienced in the autumn and hay that had been saved for winter had to be fed out to stock. This resulted in settlers having to graze their stock out during the winter. Many sought the aid of the Government in the matter, and the Department was fortunately able to procure grazing in the Pirinoa and Hinakura districts for over 900 cows. The cows came through the winter in reasonable condition. A number of soldier settlers have availed themselves of the Unemployment Board's Schemes 4a and 4b-, with the result that many scrub- and gorse-infested areas have been cleaned up and brought into profit. It is hoped that camps may be established on some of the settlements to deal with areas covered with manuka and tahinau. In spite of the smallness of their incomes, many of the settlers with a little assistance from the Department have maintained their pastures and effected necessary improvements. Hay and ensilage have been saved, and provision made generally to meet the winter and early spring. MARLBOROUGH. (P. R. Wilkinson, Commissioner of Crown Lands.) The discharged soldier settlers, in common with the rest of the farming community, are finding it increasingly difficult to make ends meet during the present difficult period. To maintain production and prevent deterioration of the Department's securities, it has been necessary to extend the maximum consideration possible to settlers and in many cases where the Department holds milk-orders, it has been necessary to readvance for maintenance and living expenses moneys which in normal times would have gone to pay annual charges. Although there are still some complaints regarding the Deaprtment's policy of controlling revenue, especially as regards milk-orders, it is gratifying to know that the bulk of the settlers appreciate that the Department is doing everything in its power to assist them.

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NELSON. (A. F. Waters, Commissioner of Crown Lands.) In spite of exceptionally low prices for farm-produce the soldier settlers generally show an optimistic spirit and a determination to make good. There have been practically no soldier settlere abandoning their holdings, as they realize that in a period of uncertainty the man on the land is as well off as any one. A number in favoured localities are doing quite well out of tobacco-growing, and in many cases are paying current charges and gradually overtaking arrears. Generally, however, it has been necessary to make concessions to the soldier settlers to tide them over these trying times. WESTLAND. (T. Cagney, Commissioner of Crown Lands.) Soldier settlers throughout the district are generally farming their respective properties on a sound and practical basis and in practically all cases their inability to meet their land charges must be attributed to the present stringent economical conditions, and I believe that with a return to something approaching relatively normal prices, and where no private mortgage is involved, their main difficulties would be rapidly overtaken. As practically all the soldier settlers in this district depend mainly on dairying, the present advance being paid by factories in Westland, on an average of about 7d. per pound for butterfat, leaves little for payment of land charges. The average price for the present season will probably disclose a drop of at least 25 per cent, on last season's price. Substantial remissions and postponements of charges were given last year, and, in the event of present prices continuing, further concessions will have to be considered or, as an alternative, reduction of capital values, which, however, it is recognized could not be justifiably considered on present-day prices for primary produce, and must be deferred in the hope that prices will eventually return to normal. Meanwhile, the Land Board is prepared to give every reasonable assistance and sympathetically deal with each application for relief on its merits. CANTERBURY. (W. Stewart, Commissioner of Crown Lands.) The prevailing conditions have affected our soldier settlers equally with our other tenants, and the Land Board is granting similar relief. The new system of controlling current accounts by seasonal advances reviewed each year has compelled a closer supervision and a review of all cases, and has proved a very useful innovation. OTAGO. (N. C. Kensington, Commissioner of Crown Lands.) There is little to add to previous reports on the position of soldier settlers. Where the current account is controlled by this Department it has been found necessary to place the settlers on a definite monthly allowance and study strict economy in running the farm. SOUTHLAND. (B. C. McCabe, Commissioner of Crown Lands.) In common with the Crown tenants, the soldier settlers have experienced another trying year, but the great majority are facing the position and carrying on as well as the depressed prices for produce will allow. A large amount of work has been undertaken under the various unemployment schemes, and many areas of unproductive land have been brought into production. Advantage has been taken of the low price for ewes, and practically all sheep flocks have been culled heavily and aged ewes replaced by sound animals. Owing to the very low prices offered for oats, few sales have been made, and the crops have been stacked for future use either as supplementary feed in case of a severe winter, or for sale later if a payable price is offering.

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TABLE 1. Total Lands acquired from the Crown by Discharged Soldiers and held at the 31st March, 1933.

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Sale (including Deferred Payment). Lease and License. Grand Totals. Number of Land District. DUcharged- Annual Area Purchasers *-■ *"»• Kenta , „ Area. Licensees. Under the Discharged Soldiers Settlement Act, 1915, and Amendments. Acres £ Acr6s £ Acr6s North Auckland .. 14 13 2,417 3,185 289 287 52,252 9,429 303 300 54,669 Auckland .. 45 45 1,330 15,690 539 532 87,833 25,260 584 577 89,163 Gisborne .. .. 4 4 196 4,810 116 114 59,569 13,623 120 118 59,765 Hawke'sBay .. .. .. .. .. 223 232 87,580 29,531 223 232 87,580 Taranaki.. .. 1 1 2 310 94 93 23,269 5,781 95 94 23,271 Wellington .. 16 16 417 5,873 723 . 700 166,913 75,138 739 716 167,330 Nelson ,. .. 3 3 1,216 1,292 21 21 13,119 1,515 24 24 14,335 Marlborough .. .. .. .. .. 49 50 15,742 3,828 49 50 15,742 Westland .. .. 1 1 148 150 17 17 19,645 193 18 18 19,793 Canterbury .. 26 26 319 8,953 365 357 217,443 39,219 391 383 217,762 Otago .. ..., 4 4 1,935 5,470 97 93 179,384 11,252 101 97 181,319 Southland .. 8 8 1,442 6,840 72 80 11,380 3,849 80 88 12,822 Totals .. 122 121 9,422 52,573 2,605 2,576 934,129 218,618 2,727 2,69? 943,551 Under other Acts. (This includes lands selected at ordinary ballots, leases and licenses purchased at auction, and holdings acquired by transfer or otherwise.) North Auckland .. 11 11 1,168 1,304 107 104 24,103 3,506 118 115 25,271 Auckland .. 49 47 22,754 20,503 339 310 145,646 7,261 388 357 168,400 Gisborne .. .. .. .. .. .. 45 41 38,094 4,073 45 41 38,094 Hawke'sBay .. .. .. .. .. 52 53 19,782 4,879 52 53 19,782 Taranaki.. .. 5 4 1,242 7,107 143 140 62,331 3,698 148 144 63,573 Wellington .. 3 3 221 1,080 162 157 57,187 34,680 165 160 57,408 Nelson .. .. 3 3 1,099 586 95 87 49,081 1,072 98 90 50,180 Marlborough .. .. .. .. .. 114 102 260,443 6,213 114 102 260,443 Westland.. .. 1 1 200 168 66 62 16,992 358 67 63 17,192 Canterbury .. 3 3 56 386 209 215 150,382 21,384 212 218 150,438 Otago .. .. 3 3 76 457 208 204 863,760 21,144 211 207 863,836 Southland .. 1 1 127 40 39 40 72,922 2,123 40 41 73,049 Totals .. 79 76 26,943 31,631 1,579 1,515 1,760,723 110,391 1,658 1,591 1,787,666 Grand totals .. 201 197 36,365 84,204 4,184 4,091 2,694,852 329,009 4,385 4,288 2,731,217

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TABLE 2. Statement of Mortgage Transactions, Financial Year ended 31st March, 1933.

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Principal. Interest. District Balance at Transfers to Balance on Mortgage Balance at Losses,-Rebates, Balance at 31st March, 1932, Advances Repayments ™ d at 3iat March, 1933, 31stMarch, 1932, Charges Receipts Remissions, 131stMarch, 1933, including dnnng Year. during Year. other Account,» including Post- including Post- during Year. during Year. and Transfers to including Postponements. ponements. ponements. other Accounts, j Postponements North Auckland — £ s. d. £ a. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ g. d. £ s. d. Current account .. .. 366,852 14 4 31,009 5 1 26,372 3 11 16,726 6 1 354,763 9 5 19,240 9 1 18,310 11 2 15,632 19 8 3,128 6 0 18 789 14 7 Farms, orchards, &c. .. .. 1,219,560 19 8 2,280 0 0 14,666 12 2 3,916 4 10 1,203,258 2 8 58,698 3 6 61,502 2 7 40,897 18 9 22,120 17 11 57'l81 9 5 Dwellings, business premises, &c. .. 1,551,533 6 5 921 8 0 51,070 0 2 48,821 8 0 1,452,563 6 3 12,273 4 8 75,535 6 7 63,263 16 2 8,609 13 9 1 4 Totals.. .. .. 3,137,947 0 5 34,210 13 1 92,108 16 3 69,463 18 11 3,010,584 18 4 90,211 17 3 155,348 0 4 119,794 14 7 33,858 17 8 91,906 5 4 Auckland — Current account .. .. 390,174 1 5 50,137 2 11 41,386 0 10 12,068 2 1 386,857 1 5 14,862 4 2 20,860 9 11 16,366 8 7 2,940 6 6 16 415 19 0 Farms, orchards, &c. .. .. 1,034,762 6 5 .. 16,884 11 8 10,043 2 10 1,007,834 11 11 34,444 5 8 51,757 6 4 37.643 8 4 8,796 5 0 39*761 18 8 Dwellings, business premises, &c. .. 347,495 4 11 305 0 3 12,729 9 3 5,070 4 9 330,000 11 2 2,800 19 5 17,133 12 10 14,102 5 5 1,463 10 4 16 6 Totals.. .. .. 1,772,431 12 9 50,442 3 2 71,000 1 9 27,181 9 8 1,724,692 4 6 52,107 9 3 89,751 9 1 68,112 2 4 13,200 1 10 60,546 14 2 Gisborne — Current account .. .. 41,063 16 8 7,449 4 4 5,385 15 7 72 12 0 43,054 13 5 2,031 4 10 2,108 0 1 1,076 18 2 Dr. 1 11 9 3 063 18 6 Farms, orchards, &c. .. .. 163,747 11 2 75 19 0 3,256 6 7 5,751 1 0 154,816 2 7 6,423 1 3 8,219 12 2 4,520 2 7 1,879 13 6 8'242 17 4 Dwellings, business premises, &c. .. 130,099 18 8 148 18 5 3,728 1 11 1,715 1 4 124,805 13 10 946 5 3 6,445 8 5 5,170 8 10 424 14 4 1*796 10 6 Totals.. .. .. 334,911 6 6 7,674 1 9 12,370 4 1 7,538 14 4 322,676 9 10 9,400 11 4 16,773 0 8 10,767 9 7 2,302 16 1 13,103 6 4 |- . — Hawke's Bay — Current account .. .. 159,457 9 0 27,337 10 6 31,540 6 7 Dr. 6,743 12 7 161,998 5 6 11,690 6 1 8,213 16 11 4,240 11 5 2,265 6 9 13,398 4 10 Farms, orchards, &c. .. .. 327,764 19 6 61 4 5 3,714 6 3 Dr. 2,983 10 10 327,095 8 6 14,814 1 11 16,754 9 5 8,052 17 4 5,567 6 9 7 3 Dwellings, business premises, &c. .. 314,290 7 6 136 1 6 11,552 4 2 7,024 11 5 295,849 13 5 3,164 2 6 15,426 7 5 12,749 18 5 1,706 8 0 4J34 3 6 Totals.. .. .. 801,512 16 0 27,534 16 5 46,806 17 0 Dr. 2,702 12 0 784,943 7 5 29,668 10 6 40,394 13 9 25,043 7 2 9,539 1 6 15 7 Taranaki — Current account .. .. 143,582 3 1 39,505 12 5 46,329 1 4 7,203 16 4 129,554 17 10 5,320 13 0 7,851 14 4 6,587 12 4 1,245 10 6 5,339 4 6 Farms, orchards, &e. .. .. 691,617 19 7 63 4 2 9,456 19 8 10,289 16 11 671,934 7 2 25,972 0 9 34,171 8 9 20,842 0 2 7,987 10 2 31,313 19 2 Dwellings, business premises, &c. .. 267,716 17 7 255 16 6 10,603 1 9 1,459 15 7 255,909 16 9 1,057 13 8 13,606 4 9 11,634 8 6 1,367 3 7 l'ô62 6 4 Totals.. .. .. 1,102,917 0 3 39,824 13 1 66,389 2 9 18,953 8 10 1,057,399 1 9 32,350 7 5 55,629 7 10 39,064 1 0 10,600 4 3 38,315 10 0 Wellington — Current account .. .. 348,765 7 5 47,072 11 1 53,760 6 7 6,642 4 8 335,435 7 3 19,292 4 1 17,953 0 0 10,603 17 8 9,790 3 3 16,851 3 2 Farms, orchards, &e. .. .. 840,373 4 3 1,840 1 4 10,031 8 8 5,461 3 11 826,720 13 0 34,334 8 4 42,262 10 4 23,582 19 6 22,546 12 4 30,467 6 10 Dwellings, business premises, &c. .. 1,155,347 10 8 1,781 19 6 42,722 17 11 14,039 1 6 1,100,367 10 9 4,994 12 4 57,659 14 3 49,291 18 2 5,657 8 6 7,704 19 11 Totals.. .. .. 2,344,486 2 4 50,694 1111 106,514 13 2 26,142 10 1 2,262,523 11 0 58,621 4 9 117,875 4 7 83,478 15 4 37,994 4 1 55,023 9 11

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I Current account .. .. 31,159 4 7 3,727 8 11 4,415 6 9 3,283 11 8 27,187 15 1 2,812 10 11 1,485 14 8 431 13 10 1,199 8 8 2 667 3 1 Farms, orchards, &c. .. .. 197,032 17 2 150 0 0 947 9 8 Dr. 1,045 19 9 197,281 7 3 11,522 3 8 9,994 13 7 2,673 12 6 7,919 17 8 10 923 7 1 Dwellings, business premises, &c. .. 74,004 19 3 24 19 4 3,411 4 3 546 10 2 70,072 4 2 343 6 5 3,696 1 4 3,129 18 7 382 5 9 '527 3 5 Totals.. •• 302,197 1 0 3,902 8 3 8,774 0 8 2,784 2 1 294,541 6 6 14,678 1 0 15,176 9 7 6,235 4 11 9,501 12 1 14,117 13 7 Nelson — Current account .. .. 58,283 10 3 4,815 2 11 5,506 2 10 1,572 15 11 56,019 14 5 3,636 16 7 2,996 11 3 1,670 0 10 1,36112 9 3,60114 3 Farms, orchards, &c 282,906 12 3 300 0 0 4,051 0 0 1,561 7 4 277,594 4 11 11,659 17 10 14,283 5 10 8,335 8 11 5,658 12 1 11 949 2 8 Dwellings, business premises, &c. .. 48,966 1 9 .. 2,995 17 0 949 13 2 45,020 11 7 227 1 8 2,347 4 1 2,004 8 9 233 4 5 336 12 7 Totals .. .. .. 390,156 4 3 5,115 2 11 12,552 19 10 4,083 16 5 378,634 10 11 15,523 16 1 19,627 1 2 12,009 18 6 7,253 9 3 15,887 9 6 Westland — Current account .. .. 19,951 0 0 3,521 18 4 3,387 17 4 699 5 1 19,385 15 11 1.180 2 10 1,001 18 9 658 17 5 99 2 11 1,424 1 3 Farms, orchards, &c. .. .. 72,452 7 6 .. 701 19 5 Dr. 427 11 4 72,177 19 5 2,908 11 5 3,681 7 9 2,058 16 3 Dr. 296 0 0 4 827 2 11 Dwellings, business premises, &c. .. 17,510 7 9 .. 629 1 3 367 1 0 16,514 5 6 129 10 5 861 1 10 722 3 11 51 4 3 217 4 1 Totals.. •• 109,913 15 3 3,521 18 4 4 : 718 18 0 638 14 9 108,078 0 10 4,218 4 8 5,544 8 4 3,439 17 7 Dr. 145 12 10 6,468 8 3 Canterbury — Current account .. .. 144,690 17 5 62,312 11 9 62,407 10 1 Dr. 1,030 7 7 145,626 6 8 10,127 10 7 7,393 18 1 1,802 10 5 1,952 17 3 13 766 1 0 Farms, orchards, &c 877,120 14 2 708 18 10 8,765 19 6 15,776 4 6 853,287 9 0 39,057 10 6 44,359 7 10 18,479 14 8 10,972 3 7 53,965 0 1 Dwellings, business premises, &c. .. 858,868 3 5 120 2 6 35,720 10 1 10,570 17 5 812,696 18 5 6,490 5 8 42,571 12 6 35,061 11 9 4,717 9 2 9,282 17 3 Totals.. .. .. 1,880,679 15 0 63,141 13 1 106,893 19 8 25,316 14 4 1,811,610 14 1 55,675 6 9 94,324 18 5 55,343 16 10 17,642 10 0 77,013 18 4 Otago — Current account .. .. 58,764 4 6 13,619 14 0 15,855 7 11 1,554 12 4 54,973 18 3 4,261 4 0 2,963 18 4 1,296 9 0 264 14 8 5,663 18 8 Farms, orchards, &c. .. .. 304,994 11 10 476 14 2 3,279 3 1 2,750 4 11 299,441 18 0 15,790 4 2 15,089 18 3 6.293 7 0 3,124 14 4 21,462 1 1 Dwellings, business premises, &c. .. 287,973 7 2 35 0 6 14,174 10 2 Dr. 50 6 7 273,884 4 1 938 6 9 14,145 12 9 12,846 16 6 1,020 18 10 1,216 4 2 Totals.. •• 651,732 3 6 14,131 8 8 33,309 1 2 4,254 10 8 628,300 0 4 20,989 14 11 32,199 9 4 20,436 12 6 4,410 7 10 28,342 3 11 Southland — Current account .. .. 91,763 8 7 20,976 19 3 20,440 11 2 764 17 10 91,534 18 10 6,802 17 8 4,834 14 6 1,560 7 4 1,892 2 11 8,185 111 Farms, orchards, &e. .. .. 362,685 8 0 .. 2,323 18 6 1,202 4 11 359,159 4 7 21,678 11 11 17,824 18 11 6,246 8 4 6,926 3 6 26,330 19 0 Dwellings, business premises, &c. .. 111,007 11 3 23 4 0 6,731 4 3 385 5 11 103,914 5 1 591 13 3 5,402 9 7 6,462 1 5 Drl,539 2 2 1,071 3 7 Totals -- •• 565,456 7 10 21,000 3 3 29,495 13 11 2,352 8 8 554,608 8 6 29,073 2 10 28,062 3 0 14,268 17 1 7,279 4 3 35,587 4 6 Name of Account. Current account .. .. .. 1,854,507 17 3 311,485 1 6 316,786 10 11 42,814 3 10 1,806,392 4 0 101,258 3 10 95,974 8 0 61,928 6 8 26,138 0 5 109,166 4 9 -farms, orchards, &c. .. .. 6,375,019 11 6 5,956 1 11 78,079 15 2 52,294 9 3 6,250,601 9 0 277,303 0 11 319,901 1 9 179,626 14 4 103,203 16 10 314,373 11 6 Dwellings, business premises, &c. .. 5,164,813 16 4 3,752 10 6 196,068 2 2 90,899 3 8 4,881,599 1 0 33,957 2 0 254,830 16 4 216,439 16 5 24,094 18 9 48,253 3 2 Grand totals .. .. 13,394,341 5 1 321,193 13 11 590,934 8 3 186,007 16 9 12,938,592 14 0 412,518 6 9 670,706 6 1 457,994 17 5 153,436 16 0 471,792 19 5

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DISCHARGED SOLDIERS SETTLEMENT ACCOUNT, Receipts and Payments Account foe the Yeab ended 31st March, 1933. Receipts. Payments. £ g. d. To Balance as at Ist April, 1932 — £ s. d. £ s. d. By Annual appropriation : Vote, Expenses of Cash .. .. .. 107,056 2 4 Management.. .. .. .. 37,000 0 0 Imprests outstanding .. 5,755 15 10 Expenditure under section 9of the Discharged Investment Account .. 82,097 13 9 Soldiers Settlement Act, 1915— 194,909 11 11 £ s. d. Credits in reduction of expenditure under sec- Miscellaneous expenditure tion 9, Discharged Soldiers Settlement on properties acquired by Act, 1915— £ s. d. Crown .. .. 4,000 6 5 Transfer and production Printing and stationery .. 190 10 9 fees .. .. .. 375 17 0 ■ Travelling-expenses of InValuation fees .. .. 12 3 8 spectors of Securities .. 210 5 1 Miscellaneous recoveries on Valuation expenses and fees 28 0 4 account properties ac- Fees refunded .. .. 0 5 0 quired by the Crown .. 236 15 5 Audit fees .. .. 700 0 0 Sundries .. .. 24 7 7 Payments on account of 649 3 8 McGregor Block .. 476 18 4 ■ Repayments in respect of advances under sec- Expenses of working protions 6 and 9, Discharged Soldiers Settle- perties acquired by Crown ment Act, 1915, &c. — £ s. d. (amount overcharged to Current account .. 316,786 10 11 ■ expenditure, section 9, Farms, orchards, &c. .. 78,079 15 2 previous years) ..Or. 322 18 8 Dwellings, business premises, 5,283 7 3 &c. .. .. .. 196,068 22 * Advances under sections 6 and 9, Discharged Buildings Account .. 609 11 3 Soldiers Settlement Act, 1915 — Sale of live and dead stock 1,576 5 9 £ s. d. Miscellaneous advances .. 2,908 12 5 Current account .. 311,483 14 11 Receipts on account of pro- Farms, orchards, &c. .. 5,956 111 perties held by Crown— Dwellings, business preFreehold .. .. 3,215 17 0 . mises, &c. .. .. 3,752 10 6 Leasehold .. .. 1,064 0 6 Miscellaneous advances .. 4,700 18 11 Receipts on account of pro- Capital expenditure on properties in course of realiz- perties acquired by the ation. .. .. 8,180 6 8 Crown — Receipts from working of Freehold .. .. 3,580 11 6 properties acquired by Leasehold .. .. 698 4 4 Crown . . .. 2,220 9 10 Expenditure in connection Grazing facilities supplied with properties in course to Crown tenants .. 266 17 11 of realization .. 8,481 9 6 Sales of property on de- Payments of instalments ferred payment 75 14 9 on State Advances DeSundries .. .. 1 16 0 partment mortgages .. 415 10 6 611,054 0 4 Purchase of live and dead Interest in respect of advances under sections stock .. .. 1,360 10 2 6 and 9, Discharged Soldiers Settlement Expenses of working proAct, 1915, &c.— £ s. d. perties acquired by Crown 2,584 8 7 Current account .. 61,928 6 8 Purchase of grazing for Farms Account .. 179,710 12 11 Crown tenants .. 679 13 8 Dwellings Account .. 216,439 16 5 343,693 14 6 Buildings Account .. 854 13 11 Suspense Account: Amounts allocated — Interest on sales of pro- £ s . <J. perties on deferred pay- Fire Loss Suspense Account 11,239 18 8 ment .. .. 68 12 5 Suspense Account .. 3,699 0 0 Miscellaneous .. .. 38 15 5 14,938 18 8 459,040 17 9 Interest on transfers from Consolidated Fund 150,000 0 0 Discharged Soldiers Settlement Amendment Management charges of consolidated stock .. 78 11 0 Act, 1921-22, sections 4, 11, 13, &c. — Stamp duty on transfers of consolidated stock 93 1 6 £ s. d. Interest on loans recouped to the ConsolidSundry debtors— ated Fund .. .. .. .. 241,010 411 Rents .. .. 19,908 6 1 Amortization of debt: Discharged Soldiers Royalties .. .. 3 4 6 Settlement Loans Act, 1920, section 5 (3), 19,911 10 7 and Finance Act, 1927, section 6—Death Merged transactions under section 20, Dis- duty stock redeemed—New Zealand Loans charged Soldiers Settlement Amendment Act', 1932, matured 17th August, 1932 .. 100 0 0 Act, 1923, &c— Finance Act, 1931 (N0.4), section 7 : Transfer Section 20 (3)— £ s. d. to Consolidated Fund of capital moneys Principal instalments .. 239 5 11 standing to the credit of the account (includInterest instalments .. 890 4 0 ing £2,250,000, proceeds of hypothecation) 2,500,000 0 0 Section 20 (4) : Property New Zealand Loans Act, 1908, charges and freehold .. .. 910 0 0 expenses of raising loans to meet redempSection 20 (5): Principal tions and conversions .. .. 5,706 19 8 instalments .. .. 10 3 11 Balance as at 31st March, 1933— 2,049 13 10 £ s. d. Suspense Account : Receipts awaiting alloca- Cash .. .. . . 106,908 2 4 tion— £ s. d. Imprests outstanding .. 5,373 711 Fire Loss Suspense Account 9,152 10 10 Investment Account .. 148,087 10 7 Suspense Account .. 3,950 210 960 369 010 13,102 13 8 Finance Act, 1931 (No. 4), section 7 (2) : Advance obtained by hypothecation of securities .. .. .. .. 2,250,000 0 0 Interest on investments .. .. .. 7,556 6 7 £3,558,273 18 4 £3,558,273 18 4

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DISCHARGED SOLDIERS SETTLEMENT ACCOUNT— continued. Revenue Account foe the Yeae ended 31st Maech, 1933. Dr £ s. A. £ s. d. Or. To Interest and sundry charges re By Interest on advances— £ s. d. £ s. d. J oans Current Account .. 95,974 8 0 Interest on debentures ..238,822 0 9 Farms, &c 320,792 17 7 Interest on amount trans- Dwellings .. .. 254,830 16 4 ferred from Consolidated Merged interests .. 984 16 0 Fund .. •■ 412,104 22 Buildings .. .. 1,151 6 6 Interest on redemptions Sales .. .. .. 86 18 8 from Public Debt Repay- Miscellaneous .. .. 87 6 3 ment Account .. 6,165 3 8 --—673,878 9 4 Management charges of stock 78 11 0 Rents and. royalties from properties acquired Stamp dutv on transfers .. 93 1.6 by Crown .. .. .. 35,988 4 7 Charges and expenses of Interest on surplus funds temporarily invested 9,330 14 3 loans (redemptions) 508 17 6 Interest on investment in Public Debt RedempCharges and expenses of tion Fund .. .. .. .. 1,484 14 10 raising loans: Issues on Profit on disposal of properties .. .. 2,729 13 7 renewal and conversion 5,198 22 Transfer and production fees .. .. 381 t> 0 662,969 18 9 Valuation fees .. .. ... ■■ 10 12 2 Expenses of management— Miscellaneous .. .. . 26 11 7 Costs recouped to vote, Balance, loss for year, carried do™ ~ 221,814 5 2 Lands and Survey .. 37,000 0 0 Rebates .. .. 27,594 17 10 Miscellaneous expenditure on Crown properties .. 4,324 7 1 Audit fees ' .. •• 700 0 0 Travelling-expenses .. 210 5 1 Printing and stationery .. 190 10 9 Valuation expenses .. 30 2 4 Commission .. • ■ 18 0 2 Depreciation .. . • 0 10 8 70,068 13 11 Remissions — Land Board recommendations .. .. •• 95,953 14 3 Dominion Revaluation Board recommendations .. 1,896 9 6 Under Deteriorated Land Act, 1925 .. .. 22 18 8 97,873 2 5 Reduction in value of securities — Losses on realization — Writings-ofl in Suspense .. 72,706 1 5 Losses on properties acquired by Crown . .. .. 30,086 5 4 Reduction of mortgages, &c, by Dominion Revaluation Board .. .. 8,716 12 8 Reduction in capital value of leases under section 216, Land Act, 1924 .. 3,223 17 0 114,732 16 5 £945,644 11 6 £945,644 11 6 £ s. d. £ s. d. To Balance ■ Loss for year brought down .. 221,814 5 2 By Adjustment on account previous year .. 669 3 9 Balance forward from previous year .. 366,929 2 5 Balance: Accumulated loss to 31st March, 1933 .. .. •■ •■ •• 588,074 3 10 £588,743 7 7 £588,743 7 7 Balance-sheet as at 31st Maech, 1933. Liabilities. I Assets. Capital £ s. d. £ s. d. Advances on mortgages— £ s. d. £ s. d. Transfer from Consoli- Current account .. 1,806,392 4 0 dated Fund .. 13,500,000 0 0 Farms, orchards, &c. .. 6,064,342 4 9 Reduction under section Dwellings, business pre--22, Finance Act, 1927 mises, &c 4,793,1411110 (No 2) .. .. 2,650,000 0 0 12,663,876 0 7 Land leased under sections 4 and 5 of Discharged 10,850,000 0 0 Soldiers Settlement Amendment Act, 1921-22 456,800 6 2 Less- repaid as per Buildings—Unpaid purchase price (not yet Finance Act, 1931 payable) of buildings on Crown properties .. 22,538 0 0 (No 4) ~ .. 2,850,000 0 0 Sundry advances merged with value of Crown lands —(Section 20, Discharged Soldiers Settle; Balance, Public Debt Re- ment Amendment Act, 1923) .. .. 36,638 13 0 demption Fund at 4 per cent. .. ... 8,000,000 0 0 Carried forward .. 8,000,000 0 0 Carried forward .. .. .. 13,179,852 19 9

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DISCHARGED SOLDIERS SETTLEMENT,, ACCOUNT—continued. Balance-sheet as at 31st March, 1933— continued. £ s. d. £ s. d. £ s d Brought forward .. 8,000,000 0 0 Brought forward .. .. .. 13,179,852 19 9 Consolidated Fund—sec- Deferred-payment sales under section 9, Distion 8, Finance Act, ■ charged Soldiers Settlement Amendment Act, 1931 (No. 4) .. 46,160 0 0 1921-22 1 771 18 7 Redemptions from Public Realization Account: Properties in course of Debt Repayment Ac- realization .. .. .. ~ 227.545 1 1 count: Section 22, Properties acquired by Crown— £ s d Finance Act, 1926, Freehold .. .. 430,345 16 1 £798,000, less Public Leasehold .. .. 63,424 11 3 Debt Redemption Fund, 4gj. £48,203 os. 4d. .. 750,096 19 8 Live and dead stock g'277 3 7 Debentures issued (at 3 Current Account, Advances Suspense : Section per cent., £150,000; 3 (3) (b), Discharged Soldiers Settlement at 3| per cent., £125,000; Amendment Act, 1924 .. .. 730 0 0 at 4 per cent., £271,130; £ s d at 4f per cent., £29,000; Office requisites, &o. .. 5 12 7 at 5 per cent., £3,166,905 Less Depreciation Reserve 5 1 5 16s. Bd.; at 5f per 011 2 cent., £51,390) .. 3,793,425 16 8 Sundry debtors for principal instalmentsHypothecation of securi- £ s _ ,j_ ties, section 7 (2), Fi- Farms Account .. .. 139,922 1 8 nance Act, 1931 (No. 4), Dwellings Account " .. 87 148 18 4 at 5J per cent. .. 2,250,000 0 0 Merged transactions .. 1,320 14 1 ■ 14,839,682 16 4 Buildings Account .. 1,066 13 5 Sundry creditors for interest— Deferred-payment sales .. 110 9 Interest due and unpaid 229 459 18 & on debentures .. 1,285 5 5 Sundry debtors for interestInterest unrecouped— Current Account .. . . 101.71119 1 On transfer (Consoli- Farms Account .. .. 237 352 6 0 ■ dated Fund) .. 702,350 13 10 Dwellings Account .. 47 372 1111 On debentures .. 9,198 12 1 Merged transactions .. 4,340 13 0 Interest accrued on trans- Buildings Account .. 910 1 0 fer from Consolidated Deferred-payment sales ~ 21 13 3 Fund .. .. 28,849 6 2 Miscellaneous advances .. 67 111 Interest accrued on deben- ggj g 2 tures .. .. 38,968 8 2 Sundry debtors for— Interest accrued on re- Rents of properties .. 35,457 16 7 demptions from Public Miscellaneous advances .. 2,462 10 1 Debt Repayment Ac- Sale o f live and dead stock 21 0 8 count •• •• 6,165 3 8 Departmental .. .. 153 111 786,817 9 4 38 094 9 3 Sundry creditors — Miscel- Postponements— laneous services— Instalments of principal— Miscellaneous .. .. 5,373 8 3 Farms .. .. 46,337 2 7 Departmental.. .. 437 14 0 Dwellings .. ... 10 10 5,811 2 3 Buildings .. .. 95 3 5 State Advances Office—Mortgages taken over 1,105 13 7 Interest Miscellaneous credit balances on Current account .. 7,454 5 8 debtors accounts — Farms .. .. 77',021 5 6 Advances— £ s. d. Dwellings .. '880 11 3 Current Account .. 15,584 3 8 Buildings .. .. 55 12 3 Dwellings, &c. .. .. 24 9 7 Rent .. .. .. 2,634 6 2 Principal instalments— jgg 7gg o Farms, &c. .. .. 487 3 2 Interest on advances accrued but not due .. 15 1 Dwellings, &c. .. . . 397 8 9 Interest on investments due and unpaid .. 56 710 Miscellaneous advances .. 164 611 Interest on investments accrued but not due .. 2,028 9 9 Interest— Suspense Account—Difference in books, Napier Current account .. . . 42 15 5 Office .. .. .. 111 0 Farms, &c. .. .. 1,620 19 3 Losses carried forward on properties worked Dwellings, &c. .. .. 671 12 3 by Department .. .. .. 865 11 1 Deferred-payment sales .. 0 5 3 Losses in Suspense .. .. 38 487 10 10 Sundry debtors for rent . . 301 4 9 Cash balances— £ s. d. Total credit balance on In Public Account .. 106,908 2 4 debtors accounts 19,294 9 0 Imprests outstanding .. 5,373 71] Rents charged in advance .. .. .. 5,856 8 5 Investment Account .. 148,087 10 7 Interest charged in advance . . .. 125 15 5 260 369 0 10 Suspense Accounts— £ s. d. Revenue Account: Accumulated loss .. 588'074 310 Fire Loss Account .. .. 4,608 15 10 Accumulated losses written off under section 22 Receipts unallocated .. 999 8 2 Finance Act, 1927 (No. 2) .. .. 3 969 759 10 11 Surpluses on realization not ' ' yet allocated .. .. 698 13 11 6,306 17 11 Writings-off in Suspense .. .. .. 38,487 10 10 Liabilities discharged under section 22, Finance Act, 1927 (No. 2), to write off accumulated losses, as per contra .. .. .. 3,969,759 10 11 £19,673,247 14 0 £19,673,247 14 0 W. Eobeetson, Under-Secretary for Lands. Wμ. E. Shaw, Accountant. I hereby certify that the Statement of Receipts and Payments, Eevenue Account, and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the comment that no charge for the cost of exchange on payments made in London is included in the account.— G. F. C. Campbell, Controller and Auditor-General.

Approximate Cost of Paper —Preparation, not given; printing (750 copies), £19.

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