LAND FOR SETTLEMENTS ACT, 1925 (REPORT ON THE).

Appendix to the Journals of the House of Representatives, 1936 Session I, C-05

C.—s.

1936. NEW ZEALAND.

LAND FOR SETTLEMENTS ACT, 1925 (REPORT ON THE).

Presented to both Houses of the General Assembly pursuant to Section 109 of the Land for Settlements Act, 1925.

The Land Purchase Controller to the Hon. the Minister op Lands. Department of Lands and Survey, Wellington, Ist August, 1936. Sir, — I have the honour to submit a report on land-purchase operations for the year ended 31st March, 1936. The only purchase of consequence during the year was a block of Native land situated in the Hokonui and Forest Hill Districts, Southland, and containing approximately 4,080 acres. The bulk of the land is in milled bush, and the proposed subdivision will provide from twelve to fourteen holdings suitable for dairying and mixed farming when developed. The area will be known as the Lora Settlement, and will be offered for selection after completion of survey and road access work. The Department has not attempted within the year to effect permanent settlement of the various properties which are in process of development before being offered for selection. On the Galatea Block development operations continue to be satisfactory. It is proposed to offer for selection early in 1937 a substantial portion of the grassed area on which the pasture is established and consolidated to a stage where subdivision into dairy-farms of suitable size may confidently be offered. Approximately 2,000 acres were cleared and cultivated during the year, about one-half of which was sown in permanent pasture. The results of the farming operations carried out by the Department on the block were highly satisfactory, good prices being obtained for wool and surplus stock. The stock on the property at 31st March, 1936, consisted of 19,564 sheep (including 8,739 breedingewes), 951 head of dairy cattle, and 4,292 run cattle. Share milking was continued during the year on ten farms and, as an illustration of the progress made thereon, it can be stated that the total butterfat production from July, 1935, to March of this year was 112,513 lb., while the output in respect of a similar period twelve months previous—viz., July, 1934, to March, 1935 —was 81,672 lb. Development operations proceeded steadily on the Kakariki Block, a fairly large area of scrub country having been cleared, grassed, and suitably subdivided. The Department's farming operations on the property were satisfactory, the revenue yielding a small profit after provision of interest on the total capital moneys employed] The stock at 31st March, 1936, comprised approximately 12,550 sheep and 1,450 head of cattle. Valuable experiments on areas reputed to be bush-sick have been conducted on the Tapuwae Block, the management having succeeded in demonstrating that with the application of limonite specifics it is now possible to carry sheep right through the season and bring lambs to profit. The stock on the property at 31st March, 1936, was 5,128 sheep (approximately 3,000 being breeding-ewes), and about 800 head of cattle. The results of farming by the Department were very satisfactory, a fair profit being returned after allowing interest on the total capital expenditure. Tables are attached giving particulars of the properties considered and land acquired during the year, together with statement of receipts and payments, revenue account, and balance-sheet, duly certified by the Controller and Auditor-General. I have, &c., W. Robertson, The Hon. Minister of Lands. Land Purchase Controller. I—C. 5.

0.—5

Table A. —Number of Properties considered during Year ended 31st March, 1936.*

Table B. —Summary of Private Estates acquired to 31st March, 1936.*

Table C. —Return of Private Land purchased and paid for during Period from 1st April, 1935, to 31st March, 1936.

Table D.—Payment from Land for Settlements Account pursuant to Section 10 (1) of the Native Land Amendment Act, 1932, during Period from 1st April, 1935, to 31st March, 1936.*

2

» T , Area of Estates!! , j -rv , • , * T _i. Area of Estates Land District. Number. offered l| Land Eistrict. Number.; 0 g ere( j Acres. Acres. North Auckland .. 2 6,990 Nelson Auckland .. .. 4 5,845 Westland .. .. 1 4,758 Gisborne .. .. .. .. Canterbury Hawke's Bay . . . . . . . . Otago Taranaki .. .. .. .. Southland .. .. 1 2,686 Wellington .. .. 2 2,873 Marlborough .. .. .. .. Totals .. 10 23,152 * Not including Native lands for general settlement considered pursuant to section 7 (3) of the Native Land Amendment Act, 1932.

Land District. Number. Area. Purchase-money. Acres. £ North Auckland .. .. 53 48,924 455,060 Auckland 75 376,073 1,243,775 G-isborne .. .. .. 26 86,380 790,131 Hawke'sBay 59 264,783 1,714,292 Taranaki ' 26 30,978 375,881 Wellington .. . . . . 155 160,828 2,350,297 Marlborough . . . . . . 22 224,090 755,482 Nelson 14 48,821 150,473 Westland . . . . . . 3 6,032 14,062 Canterbury .. .. .. 178 451,201 3,521,523 Otago .. .. .. 81 335,212 2,029,409 Southland .. .. .. 34 94,396 522,280 Totals .. .. 726 2,127,718 13,922,665 * Exclusive of purchases under the Native Land Act, 1931, for general settlement.

(For Native Land)

Payee. Land. Area. Amount paid. A. R. P. £ s. d. Native owners . . . . . - Sections 919, 920, and 923, Block 4,080 0 34 3,581 10 0 LXII, Hokonui S.D. ; Sections 451, 453, 457, 462, 467, and 468, Block XVI, Forest Hill Hundred ; and Sections 454, 455, 458a, 458b, 459, and 460, Block XVII, Forest Hill Hundred Native owner . . . . . • Mangatoro 1a 3c 2b .. . . 16 2 38 157 0 0 Native owners . . . . . . Te Allu Ahu 3a No. 2 .. .. 4 1 10 41 19 51" Totals .. .. .. .. 4,101 i 02 3,780 9 5 * Not including payments pursuant to section 3 (2) of the Native Purposes Act, 1934. t Part purchasemoney only.

C.—s

LAND FOR SETTLEMENTS ACCOUNT. Receipts and Payments Account fob the Year ended 31st Maech, 1926. Receipts. £ s. d. £ s. d. To Balance as at Ist April, 1935 .. .. .. .. . • • • 252,116 8 7 Investment-Account .. .. .. .. •• 17,865 0 0 — 269,981 8 7 Credits in Aid—Vote, Land for Settlements .. .. •. • • • ■ 180 12 0 Estates — _ ' Rents and royalties .. .. .. .. . ■ •• •• 391,707 5 5 Buildings loading on leases (principal) .. .. .. •• •• 6,723 3 6 398,430 8 11 Interest on sales of land under deferred-payment licenses .. .. .. ■■ 23,321 16 0 Cash sales of land . . . . .. ■ . • . • • 57,760 3 1 Instalments of principal under deferred-payment licenses .. .. .. 15,306 9 5 73,066 12 6 Miscellaneous recoveries of expenditure under section 45, Land for Settlements Act, 1925— Expenses incidental to estates .. . . .. . • • • 946 15 5 Acquirement of estates .. . . .. .. .. • • 345 I) 0 1,291 15 5 Station accounts : Estates farmed— Te Wera Settlement . . . . .. .. • • • • 6,907 13 1 Brinklands Settlement .. .. .. .. .. •• 2,374 15 5 9,282 8 6 505,393 I 4 Hutt Valley Lands Settlement — Rents ' .. .. .. .. •• .. •• •• •• _ 208 10 6 Interest on sales under deferred-payment licenses .. .. .. .. ■■ 5,454 4 3 Cash sales .. .. .. .. •• •• •• 14,245 0 0 Instalments of principal under deferred-payment licenses .. .. .. 6,238 14 7 20,483 14 7 26,146 9 4 Receipts from Hutt Valley Settlement lands applied towards money expended for the acquisition of land subject to the Hutt Valley Land Settlement Act, 1925, or in respect of the preparation of the land for disposal . . .. .. 25,648 15 3 Deposits by lessees of Crown lands under section 208 of the Land Act, 1924, on account of capital value of land .. ■ ■ • • • • ■ ■ • • 292 9 4 Amounts credited from proceeds sales of Crown lands in respect of settlement lands converted into ordinary Crown lands . . . . . ■ • • • • 160 18 6 Mortgages — Advances for development of Crown and settlement lands — Crown lands — Repayment of advances .. .. .. .. .. •• 5,819 17 9 Interest on advances .. . . . • .. ■ • • • 7,925 2 4 13,745 0 1 Settlement lands — Repayment of advances .. .. • • ■. . • • • 159 2 0 Interest on advances .. .. .. •• .. •• 1,462 17 5 1,621 19 5 Advances under Deteriorated Lands Act, 1925 — Repayment of advances .. .. .. . . • • . • 545 111 Interest on advances .. .. • • . . . • • • 636 16 1 1,181 18 0 16,548 17 6 Advances for roading of endowment lands — Repayment of principal— Otago University Endowment .. .. .. .. •. • • 77 14 3 Interest — Wanganui River Trust Endowment .. .. .. .. .. 120 12 0 Otago University Endowment .. .. .. .. . • 163 18 3 6 284 10 3 362 4 6 Valuation fees —Advances for development of Crown and settlement lands .. .. 77 14 0 Development of Crown and settlement lands under sections 6 and 13, Land Laws Amendment Act, 1929 — Crown lands disposed of— Rents . . . . • • ■ • ■ • • • • • ■ • 2,340 6 11 Buildings loading on leases (principal) .. .. .. . • 35 8 9 Interest under deferred-payment licenses .. .. . ■ ■ ■ • • 650 8 1 Miscellaneous .. •• •• •• 069 Cash sales of land . ■ .. ■ • • • • • ■ • ■ • 56 0 0 Instalments of principal under deferred-payment licenses .. .. 121 6 7 * r — 177 6 7 Crown lands under development— Sale of live-stock and produce .. .. •• •• 15,261 3 5 Miscellaneous .. .. . ■ • • ■ • • • • • 16 3 4 15,277 6 9 Carried forward .. .. . • •• •• •• •• 863,273 14 2

3

C.--5

LAND FOR SETTLEMENTS ACCOUNT—conned. Receipts and Payments Account for the Year ended 31st March, 1936—continued. Receipts—continued. £ s. d. f s. d. Brought forward .. .. .. .. .. •• .. 863,273 14 2 To Development of Crown and settlement lands under sections 6 and 13, Land Laws Amendment Act, 1929 —continued. Crown lands under development—continued. Recoveries of expenditure— Under section 6 .. .. .. •. • • •. 2,565 5 10 Transfer from Public Works Fund in respect of lands taken over for Small Farms Scheme .. .. . ■ . • . . . • 4, 865 13 5 7,430 19 3 Settlement lands under development— Sale of live-stock and produce .. .. .. •• 37,635 6 2 Miscellaneous receipts .. .. . . .. . . .. 360 5 4 Recoveries of expenditure incurred under section 13 .. .. .. 6,548 10 1 44,544 1 7 70,456 4 8 Capital proceeds from sales of Crown and National-endowment lands— Crown lands — Cash sales .. .. .. •• .. •• 46,232 0 11 Instalments of principal under deferred-payment licenses .. .. 17,417 17 I I 63,649 18 10 Orakei Block — Cash sales .. .. .. •• .. •• •• 3,661 6 5 Instalments of principal under deferred-payment licenses .. .. 3,938 16 7 7,600 3 0 71,250 1 10 National-endowment land— Cash sales .. .. . • . • •• •• •• 9,669 15 11 Instalments of principal under deferred-payment licenses .. .. 1,972 13 8 11,642 9 7 Interest on investments .. .. .. .. .. .. • • ■ • 1,723 6 4 £999,864 12 9 Payments. By Annual Appropriation—Vote, Land for Settlements — £ s. d. £ s. d. Sundry administrative charges .. .. .. .. •• .. 1,169 9 2 Advances under section 11, Finance Act, 1933, for protection, &c., of securities 159 5 8 Miscellaneous expenditure on estates .. . . .. .. • ■ 265 13 6 Grants to County Councils for maintenance of county roads serving lands farmed by the Department .. .. .. . • . • ■ • 721 13 6 Compensation for injuries incurred by workmen engaged on development works 218 17 1 Expenditure from capital proceeds of sales of Crown lands credited under section 20 of the Land Act, 1924 . . . . . . . . ■. 6,458 6 6 Expenditure from capital proceeds of sales of National-endowment lands credited under section 302 of the Land Act, 1924 .. .. . . .. 50 0 0 9,043 5 5 Unauthorized expenditure — Miscellaneous expenditure on estates .. .. .. .. .. 136 9 10 Payment of rates on forfeited holdings .. .. .. • ■ • • 848 6 7 984 16 5 Acquisition of lands— Purchases of estates .. .. .. .. •. • • • ■ 3 3 0 Native land acquired for general settlement .. .. .. .. 3,870 3 0 Payment to Discharged Soldiers Settlement Account in respect of amounts added to capital value .. .. .. .. . ■ .. 2,020 7 1 Payment for Crown lands declared settlement lands .. .. .. 6,509 7 6 12,403 0 7 Expenditure on estates pursuant to sections 45 and 76 of the Land for Settlements Act, 1925 .. .. .. •• 3,459 17 4 Hutt Valley Lands Settlement— Expenses of administration .. .. .. .. •. • • 497 14 1 Amount deducted from receipts under section 10 (2) of the Finance Act, 1932, and applied towards money expended for acquisition of lands subject to the Hutt Valley Lands Settlement Act, 1925, or in respect of the preparation of such lands for disposal .. .. .. . • .. • • 25,648 15 3 26,146 9 4 Administration expenses of estates — Lands acquired under Land for Settlements Act .. .. .. .. 10,183 0 11 Cheviot Estate lands .. .. .. .. .. .. •. 770 19 8 10,954 0 7 Administration expenses : Development of Crown and settlement lands under Parts I and II of the Land Laws Amendment Act, 1929 .. .. .. . . 1,023 14 8 Station expenses on estates farmed — Te Wera Settlement .. .. .. .. .. 4,997 13 10 Brinklands Settlement .. .. . . .. .. . • 3,038 8 5 $,036 2 3 Advances for development of Crown and settlement lands — Crown lands .. .. .. .. .. •• •• 22,414 11 10 Settlement lands .. .. .. .. •• •• •• 2,598 14 5 — 25,013 6 3 Carried forward .. .. .. .. .. .. •• 97,064 12 10

4

C.—s

LAND FOR SETTLEMENTS ACCOUNT—continued. Receipts and Payments Account fob the Year ended 31st March, 1936 —continued. Payments—continued. £ s. d. £ s. d. Brought forward .. .. .. .. .. .. .. 97,064 12 10 By .Development of unoccupied Crown and settlement lands— Crown lands— Under section 6, Land Laws Amendment Act, 1929 .. .. .. 18,648 9 8 Exchange on remittances beyond New Zealand for equipment, &c., purchased 176 3 8 18,824 13 4 Settlement lands — Under section 13, Land Laws Amendment Act, 1929 .. .. .. 57,800 4 0 Exchange on remittances beyond New Zealand for equipment, &c., purchased 148 5 3 57,948 9 3 Expenditure from capital proceeds of sale of Crown lands credited in terms of section 20 of the Land Act, 1924 — Payment to the Public Works Fund of the value of lands set apart or acquired for the purposes of the Post and Telegraph Department but no longer required 2,733 7 1 Payment to the Public Works Fund for land obtained for Government's works now deemed to be Crown lands . . .. .. . . .. 6 10 0 "Thirds" and "fourths" paid to Local Bodies' Deposit Account under section 139 of the Land Act, 1924 .. .. .. .. .. 122 .17 10 Payment to the Discharged Soldiers Settlement Account in respect of amounts added to the capital value of deferred-payment licenses .. .. .. 65 19 5 Acquisition of undivided interests in Native lands under section 3, Native Land Purposes Act, 1934 .. .. .. .. .. .. .. 1,944 18 11 Payments to Domain Boards for purchase or improvement of domains from proceeds of sale of domain lands .. . . .. . . .. 172 18 0 Payment in respect of settlement lands declared to be ordinary Crown lands . . 160 18 6 Transfer to Public Works Fund adjusting capital accounts in respect of lands acquired but not required for purposes of the Small Farms Scheme .. 43 6 8 5,250 16 5 Expenditure from capital proceeds of sales of National-endowment lands — " Thirds " paid under section 139 of the Land Act, 1924 . . .. .. .. 19 4 0 Interest payments— Transfer to Consolidated Fund in respect of interest payable on loan capital liability . . .. .. .. .. . . .. .. 425,286 011 On capital moneys received from the sales of Crown lands paid to Land for Settlements Account under section 20, Land Act, 1924 (balance, 1934-35) .. 36,454 4 5 On value of Crown lands declared to be subject to the Land for Settlements Act, 1925 . . .. . . .. .. . . .. .. 8,477 12 0 On capital moneys received from the sales of National-endowment lands paid to Land for Settlements Account under section 302, Land Act, 1924 .. 2,243 5 1 On Cheviot Estate Accumulated Fund .. .. .. .. .. 18,508 010 On deposits made by lessees under section 208 of the Land Act, 1924, on account of capital value of land .. . . .. . . .. . . 278 2 11 491,247 6 2 Sundry charges re loans— Recoupment of management charges of New Zealand Consolidated Stock .. 719 13 10 Recoupment of Stamp Duty on transfers of New Zealand Consolidated Stock, 1944 .. . . * .. .. . . .. .. . . 613 7 Charges and expenses of raising loans —Issues in renewal and conversion .. 37 10 0 763 17 5 Balance as at 31st March, 1936 — Cash .. .. .. .. .. .. .. .. 160,880 13 4 Investments .. .. .. .. .. .. .. .. 167,865 0 0 328,745 13 4 £999,864 12 9

5

c.—s.

LAND FOR SETTLEMENTS ACCOUNT—continued. Revenue Account for the Year ended 31st March, 1936.

6

General. Cheviot. Hutt Valley. Total. Dr. £ s. d. £ s. d. £ s. d. £ s. d. To Interest 011 — Loans capital liability .. ■■ •• 402,533 15 6 5,632 2 7 .. 408,165 18 1 Capital from proceeds of Crown lands .. .. 78,745 1 2 .. .. 78,745 1 2 Value of Crown lands in estates .. .. .. 8,477 12 0 .. .. 8,477 12 0 National Endowment Trust Funds .. .. .. 2,650 17 10 .. .. 2,650 17 10 Cheviot Estate accumulated funds transferred .. 18,508 0 10 .. 18,508 0 10 Deposits by lessees under section 208, Land Act, 1924 . . 278 2 11 . . . . 278 2 11 Capital from Land for Settlements Account .. .. .. .. 4,425 12 10 4,425 12 10 Sundry charges re loans — Expenses of raising loans . . . ■ .. • ■ 3.7 10 0 .. . . 37 10 0 Stamp duty on transfer of stock . . . . . . 6 13 7 . . . . 6 13 7 Management charges of New Zealand consolidated stock 719 13 10 j .. .. 719 13 10 Proportion of premium on loan conversions . . . . 2,563 0 0 j . . . • 2,563 0 0 Administration expenses— Estates .. . . • ■ ■■ ■■ 10,183 0 11 j 770 19 8 497 14 1 11,451 14 8 Land Laws Amendment Act, 1929 .. .. •• 1,644 12 3 .. .. 1,644 12 3 Rebates — Rents, &c., from estates .. .. 23,7.16 12 8 1,188 9 1 .. 24,905 .1 9 Rents, &c., under Land Laws Amendment Act, 1929 . . 221 12 7 .. .. 221 12 7 Remissions of rent and interest — Land Board recommendations — Rents, &c., from estates .. .. •• 75,582 0 7 373 19 0 .. 75,955 19 7 Rents, &c., under Land Laws Amendment Act, 1929 311 19 6 .. .. 311 19 6 Under Mortgagors and Tenants Relief Act, 1933 — Rents, &c., from estates .. .. .. 11,949 19 6 .. .. 11,949 19 6 Under Deteriorated Lands Act, 1925 ■ . . • 470 19 1 .. .. 470 19 1 Deficiency on disposal of developed Crown lands— Te Kauwhata Block .. 16,059 17 9 .. .. 16,059 17 9 Irrecoverable rents, &c., transferred to Suspense Account— Rents, &c., from estates .. .. 8,757 5 7 .. 377 7 11 9,134 13 6 Rents, &c., under Land Laws Amendment Act, 1929 . . 157 16 4 . . . . 157 16 4 Annual Appropriation : Vote, Land for Settlements — \ i £ s. d. Audit fees .. .. • • ■ • 250 0 0 j Salaries . ■ • ■ • • ■ • 868 5 4 Travelling-expenses .. .. • • 51 3 10 Compensation for injuries on development works . • • • • ■ • ■ 216 9 7 Miscellaneous .. .. .. 161 17 8 —. 1,547 16 5 .. .. 1,547 16 5 Depreciation of plant, &c. . . .. .. ■ ■ 193 17 0 .. . . 193 17 0 Miscellaneous expenses incidental to estates .. .. 257 2 9 .. 3,043 19 6 3,301 2 3 Interest on Cheviot Estate fixed capital (see contra) .. . . 8,019 3 5 .. 8,019 3 5 Balance carried down .. .. ■■ •• 969 3 10 3,879 13 10 4,848 17 8 £665,575 0 7 £16,953 17 7 £12,224 8 2 £694,753 6 4 £ s. d. £ s. d. £ s. d. £ s. d. To Balance brought down .. . • 48,680 10 1 .. .. 48,680 10 1 Adjustment previous year : Interest under deferred-payment 122 2 1 . . . . 122 2 1 licenses overcredited Transfer to Profit and Loss Appropriation Account . . . . . . 3,879 13 10 3,879 13 10 Transfer to reserve .. .. • • • ■ • • • • 969 3 10 . . 969 3 10 £48,802 12 2 £969 3 10 £3,879 13 10 £53,651 9 10 Gr. ~ By Rents and royalties— £ s. d. £ s. d. £ s. d. £ s. d. Estates .'. .. . . 501,866 12 11 16,086 4 10 215 17 8 518,168 15 5 Land Laws Amendment Act, 1929 .. • • • ■ 3,304 0 3 .. .. 3,304 0 3 Interest on sales — Estates .. .. ■ • ■■ •• 23,428 17 4 726 17 6 5,831 17 4 29,987 12 2 Land Laws Amendment Act, 1929 . . . ■ ■ ■ 685 12 4 . . .. 685 12 4 Interest on capital expenditure— £ s. d. Te Wera Estate .. ■ ■ . ■ 4,023 16 2 Brinklands Estate .. . . 1,496 4 2 Hutt Valley .. .. .. ■ • 4,425 12 10 Land development .. .. • • 6,830 17 2 16,776 10 4 .. .. 16,776 10 4 Interest on advances — Land Laws Amendment Act, 1929 . . 8,474 14 0 Deteriorated Lands Act, 1925 .. . . 530 14 8 9,005 8 8 .. .. 9,005 8 8 Interest on loans for loading of endowment lands under section 47, Land for Settlements Act, 1925— Wanganui River Trust Endowment . . 93 18 3 Otago LTniversity Endowment . > . . 85 4 3 179 2 6 .. .. 179 2 6 Interest on investments .. .. ■■ ■■ 1,983 19 6 .. .. 1,983 19 6 Interest on investments in Public Debt Redemption Eund . . 51,559 18 3 140 15 3 .. 51,700 13 6 Valuation fees, sections 7 and 14, Land Laws Amendment 77 14 0 . . . . 77 14 0 Act, 1929 Miscellaneous ■ . •. ■ • • ■ ■ • 7 11 0 .. 3 5 0 10 16 0 Interest on Cheviot Estate (see contra) .. .. .. 8,019 3 5 .. .. 8,019 3 5 Gross profit on trading .. .. .. .. .. 6,173 8 2 6,173 8 2 Balance carried down .. .. .. . . 48,680 10 1 . . .. 48,680 10 I £665,575 0 7 £16,953 17 7 £12,224 8 2 £694,753 6 4 £ s. d. £ s. d. £ s. d. £ s. d. By Balance brought down .. .. .. .. 969 3 10 3,879 13 10 4,848 17 8 Transfer from reserve .. .. ■■ .. 48,802 12 2 .. .. 48,802 12 2 £48,802 12 2 £969 3 10 £3,879 13 10 £53,651 9 10

7

C.—5

LAND FOR SETTLEMENTS ACCOUNT-continued. Balance-sheet as at 31st March, 1936. Liabilities.

J General. | Cheviot. Hutt Valle yLoan capital— £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. 3 per cent. . . 429,800 0 0 34 per cent. .. 4,863,133 5 11 .. 160,918 0 0 3f per cent. .. 364,150 0 0 4 per cent. .. 5,444,779 3 11 4J per cent. .. 37,739 12 3 5 per cent. . . 118,520 0 0 5J per cent. .. 1,500 0 0 5| per cent. .. 19,580 0 0 Funded, debt, £4 33,446 6 11 19s. 5-88d. Debentures not con- 200 0 0 verted 11,312,848 9 0 Crown lands included in estates .. 211,940 0 0 Sales of Crown land . . . 2,528,886 3 5 14,053,674 12 5 Less amount expended in opening up 425,473 1 10 Crown lands 13,628,201 10 7 160,918 0 0 .. .. 13,789,119 10 7 Accumulated funds— Cheviot Estate .. .. .. .. 463,353 15 4 .. .. 463,353 15 4 National Endowment Trust .. .. .. .. j 121,830 17 10 .. 121,830 17 10 Deposits by lessees under section 208, 9,738 5 7 .. .. .. 9,738 5 7 Land Act, 1924 Sundry creditors — Interest on capital from proceeds of 78,745 1 2 sales of Crown lands Interest on loans due and unpaid . . 52 0 4 Turakina Domain . . .. . . 317 3 1 Departmental .. .. .. 3,185 18 9 Miscellaneous .. .. .. 9,470 3 II 91,770 7 3 .. .. .. 91,770 7 3 Interest on loans accrued but not due .. 106,276 5 4 1,373 6 3 .. .. 107,649 11 7 Hutt Valley estates — Purchases .. .. .. .. .. .. 164,760 11 9 Reading and incidental expenses .. .. j .. .. j 228,173 4 4 Interest . . . . .. .. . . . . I . . 76,080 5 8 469,014 1 9 Less deductions section 11 (2a), .. ... 325,574 14 5 Finance Act, 1932 1 — 143,439 7 4 143,439 7 4 Railway Improvements Authorization Act, .. .. .. 1,014 14 I 1,014 14 l 1914 : Interest on capital Land Laws Amendment Act, 1929 — Land subject to section 8— Crown Lands Account . . . . 35,592 7 1 National Endowment Account .. | 8,711 10 2 Primary Education Endowment Ac- 177 19 I j count ; 44,481 16 4 .. , . .. 44,481 16 4 Discharged Soldiers Settlement Account — Merged interests under section 20, Discharged Soldiers Settlement Amendment Act, 1923 — Principal .. .. .. 4,051 .19 9 Instalments . . . . . . 98 0 6 4,150 0 3 .. .. .. 4,150 0 3 Payments in advance — Rents, Sc., on estates .. .. 3,580 6 0 543 12 8 .. 37 0 2 Principal instalments —Sales of Crown 3,343 17 8 .. 2 4 4 land Interest on advances under Deterio- 17 17 4 rated Lands Act, 1925 Land Laws Amendment Act, 1929 . . 69 2 10 7,011 3 10 543 12 8 j 2 4 4 37 0 2 7,394 1 0 Rents charged in advance .. . • j 129,027 9 0 5,158 19 7 .. 3 10 0 134,189 18 7 Suspense Account: Deteriorated Lands 733 10 2 .. .. .. 733 ]o 2 Act, 1925 Suspense Account: Buildings . . .. 333 3 1 . . . . . . 333 3 1 Writings-ofi in Suspense .. . . 13,381 1 8 .. .. 382 6 6 13,763 8 2 Reserve for capitalized interest on land- 29,024 4 5 .. .. j .. 29,024 4 5 development schemes Reserve Account, including unexpended 739,363 10 8 8,284 4 0 . .. .. 747,647 14 8 loading for roads, &c. Unemployment Fund capital .. .. 10,747 18 11 .. .. j .. 10,747 18 11 Profit and loss Appropriation Account .. .. .. : 123,706 9 1 123,706 9 1 Cheviot Estate Account (as per contra) .. 280,614 5 8 .. .. .. 280,614 5 8 National Endowment Trust Account (as 75,313 7 1 .. .. .. 75.313 7 1 per contra) -I £15,170,167 19 10 £639,631 17 10 £121,833 2 2 £268,583 7 2 £16,200,216 7 0

C.—s

LAND FOR SETTLEMENTS ACCOUNT—continued. Balance-sheet as at 31st March, 1936 —continued. Assets.

8

General. Cheviot. Trrat™" 'Hutt Valley. Total. [.find Account — £ s ' 1 '• £ s - <'• £ s ' £ s. d. £ s. d. Estates leased 10,383,551 9 9 328,047 11 1 Estates unlet .. .. 260,794 17 7 325 0 0 .. 115,409 0 0 10,644,346 7 4 328,372 11 1 .. 115,409 0 0 11,088,127 18 5 Land Laws Amendment Act, 1929 — Land leased -■ ■■ 91,872 0 0 Land unlet .. •• 10,745 0 0 102,617 0 0 .. .. 102,617 0 0 Provisional State forest .. .. 3,158 6 6 .. 3,158 6 6 11,193,903 4 11 Unpaid purchase-price (not yet payable)— Buildings on estates .. • ■ 106,636 14 1 15 0 0 Sales of settlement land .. .. 418,887 8 3 18,539 0 0 .. 113.992 1 10 Sales of Crown land .. • ■ 465,679 12 11 .. 46,234 8 1 Land Laws Amendment Act, 1929 — Buildings ■ ■ ■ ■ • ■ 214 4 4 Sales of land .. ■■ •• 12,553 13 4 1,003,971 12 11 18,554 0 0 46,234 8 1 113,992 1 10 1,182,752 2 10 Realization Account .. .. 4,307 18 8 .. .. ■■ 4,307 18 8 Hutt Valley estates- — Purchases •• 164,760 11 9 Roading and incidental expenses .. 228,173 4 4 Interest 76,080 5 8 469,014 1 9 Less deductions, section 11 (2a), 325,574 14 5 Finance Act, 1932 „ , 143,439 7 4 .. .. .. 143,439 7 4 Railway Department: Balance unpaid on .. 26,389 8 0 26,389 8 0 area taken for workshops Advances on mortgages — Land Laws Amendment Act, 1929— Current Account: Crown land .. 144,889 10 5 Current Account: Settlement land 21,620 18 3 Instalment mortgage : Crown land . . 7,012 1 6 Instalment mortgage : Settlement land 270 14 10 173/793 5 0 .. . 173,793 5 0 Deteriorated Lands Act, 1925— Current account .. .. • ■ 9,155 I 4 Instalment mortgage .. . . 1,401 0 0 10,556 14 .. 10,556 1 4 Advances for roading of endowment lands under section 47, Land for Settlements Act, 1925 — Wanganui River Trust Endowment .. 2,059 19 3 Otago University Endowment . . j 1,657 5 1 3.717 4 4 . . - 3,717 4 4 Land Laws Amendment Act, 1929 : Expenditure on development of Crown and settlement lands — Crown lands — Improvements .. .. •• 87,812 16 5 Equipment .. .. •• 9,095 5 10 Stock and farm accounts .. .. j 12,108 1 2 Settlement lands— Improvements .. . . ■ - 118,291 10 5 Equipment .. •• 12,016 7 2 Stock and farm accounts .. . . 46,551 14 1 285,875 15~r .. .. •• 285,875 15 I Interest on capital expenditure .. 29,024 4 5 .. ■■ 29,024 4 5 Carried forward .. .. 12,404,807 2 1.1 346,926 11 I 46,234 8 1 255,790 9 10 13,053,758 11 11

C.—s

LAND FOR SETTLEMENTS ACCOUNT —continued. Balance-sheet as at 31st March, 1936 —continued. Assets —continued.

W. Robertson, Under-Secretary for Lands. Wm. E. Shaw, Chief Accountant. I hereby certify that the Revenue 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 following exception : No interest has been allowed to the Cheviot Estate in respect of the assets of the Cheviot Estate Account, which have been transferred to the Land for Settlements Account; and, moreover, the Cheviot Estate has been charged interest on the value of such assets other than cash. As a result, the accounts do not disclose the true amount of revenue earned by the Cheviot Estate and the Land for Settlements Account respectively. The following comments are appended— (1) The account contains no charge for the cost of exchange on payments of interest made in London ; (2) to avoid delay the accounts of some land districts, the audits of which have not yet been completed by the local Audit Inspector, have been accepted from the Department's records—G. F. C. Campbell, Controller and Auditor-General. Approximate Cost of Paper,—Preparation, not given; printing (524 copies), £15 10s.

By Authority : G. H. Loney, Government Printer, Wellington.—l 936.

Price 6d.\

2 —C. 5.

9

j General. Cheviot. Hutt Valle y' Total - £ a. d. £ s. d. £ s. d. £ s. d. £ s. d. Brought forward .. .. 12,404,807 2 11 346,926 11 1 46,234 8 1 255,790 9 10 13,053,758 11 11 Station accounts, including improvements 150,327 9 9 . . ■ . . . 150,327 9 9 and live-stock Plant and machinery .. . • • • 3,863 0 0 Less depreciation reserve thereon .. 2,699 4 0 1,163 16 0 . . . ■ 1,163 16 0 Postponements of rent, interest, &c.— Under Land Act, 1924 — Rents, &c., from estates .. 93,811 4 2 172 1 3 Instalments: Sales of Crown lands 1,481 13 8 .. 0 4 11 Land Laws Amendment Act, 1929 ; 121 16 11 Rents, &c. Under Mortgagors and Tenants Relief Act, 1933— Rents, &c., from estates .. .. 7,407 14 7 Instalments —Sales of Crown lands .. 90 6 4 . . 20 10 7 Under Deteriorated Lands Act, 1925 — Interest on advances . • • • 41 5 5 102,954 11 172 1 3 20 15 6 .. 103,146 17 10 Sundry debtors for— Bents, royalties from estates. . •• 492,538 12 1 7,307 2 8 .. 217 8 I Principal instalments: Buildings .. 16,466 14 2 Principal instalments: Sales of Crown .17,901 16 4 .. 239 11 6 lands Principal instalments: Sales of settle- 33,963 19 9 422 10 0 .. 3,730 12 1 ment lands Principal instalments : Advances under 25 10 8 Deteriorated Lands Act, 1925 Principal instalments : Loans for road- 429 19 9 mg of endowment lands under section 47, Land for Settlements Act, 1925 Interest on loans for roading of endow- 874 9 5 ment lands under section 47, Land for Settlements Act, 1925 Interest on sales of Crown lands . . 186 19 4 Interest on sales of settlement lands .. 18,346 5 6 460 5 2 .. 7,927 10 8 Interest on advances under Deteriorated 955 17 1 Lands Act, 1925 Land Laws Amendment Act, 1929— Rents .. .. • ■ ■ ■ 1,826 10 6 Interest on sales .. . . ■ ■ 165 0 10 Interest on advances under sections 7 9,303 0 7 and 14 Principal instalments: Sales under- 88 6 3 section 8 Principal instalments : Mortgages 49 6 1 Insurances .. • • ■ • 44 8 10 Departmental 3,277 13 10 .. 25 0 0 50 0 0 Miscellaneous . . • • ■ • 2,989 4 11 599,433 15 11 8,189 17 10 264 11 6 11,925 10 10 619,813 16 1 Orakei Block (see separate balance-sheet 46,310 3 8 .. 46,310 3 8 attached to Grown Lands Account) Interest accrued but not due on— Investments .. . - ■ ■ 728 10 6 . . ■ • ■ • 7-j8 10 6 Sales under deferred-payment licenses. . 5,918 7 3 69 4 9 .. 485 0 0 6,472 12 0 Outstanding losses : Suspense Account .. 13,381 18 .. 382 6 6 13,763 8 2 Capital expenditure: Unemployment Fund 10,747 18 11 .. .. 10,747 18 11 Investment in Public Debt Redemption 1,340,557 15 8 3,659 17 3 J •• 1,344,217 1_ 11 Fund ' Consolidated Fund : Proportion of interest 147,151 3 2 .. •• •• 147,151 3 2 on Loan Account Premium on loan conversions .. .. 17,941 0 0 ■■ 17,941 0 0 Land for Settlements Account: General, .. 280,614 5 8 75,313 7 1 .. 355,927 1- 9 as per contra Cash .. ■■ ■■ 160,880 13 4 .. .. 160,880 13 4 Investment Account: Securities held .. 167,865 0 0 .. ■■ 167,865 0 0 £15,170,167 19 10 £639,631 17 10 £121,833 2 2 £268,583 7 2 £16,200,216 7 0