11

E.—s.

Visitor has filled the vacant seats by the appointment of Mr. Albert Pitt, M.H.E., Mr. James Selanders, Mr. A. S. Collins, M.H.E., and General Davidson. The Council of Governors is, therefore, now constituted as follows : —"W. C. Hodgson and A. S. Collins, M.H.E., representing Nelson, and Q-eneral Davidson, Marlborough ; term of office expires 14th November, 1882. J. Sharp and C. T. Pell, representing Nelson, and A. P. Seymour, M.H.E., Marlborough ; term of office expires 14th November, 1885. J. Selanders and A. Pitt, M.H.8., representing Nelson, and J. W. Barnicoat, Marlborough; term of office expires 14th November, 1888. By order of the Council of Governors. Oswald Cuetis, Secretary.

Absteact of Receipts and Expendituee for the Tear ending 31st December, 1880. Receipts. £ a. A. Expenditure. £ s. d. To Balance at Bank of New Zealand on the By Scholarships— 31st December, 1879 ... ... 76 6 8 Foundation ... ... ... 70 0 0 Interest on mortgage securities ... 1,416 6 10 Endowed ... ... ... 84 0 0 Rents from endowments ... ... 519 10 0 Governors'fees ... ... ... 50 0 0 Boarding account ... ... ... 3,019 2 0 Exhibitions ... ... ... 232 10 0 Tuition account ... ... ... 1,653 0 0 Simmons'prize, two years ... ... 12 0 0 Stationery account ... ... ... 72 16 5 Boarding account ... ... ... 2,360 16 0 Tuition account ... ... ... 1,753 0 0 Stationery account ... ... ... 56 11 7 Repairs account ... ... ... 220 19 10 Clerical assistance during illness of late Secretary ... ... ... 20 0 0 Audit expenses ... ... ... 9 9 0 Special lectures on science ... ... 50 15 0 Subscriptions to College sports ... 10 0 0 Legal expenses ... ... ... 25 7 2 Insurance from fire ... ... ... 68 13 6 City rates ... ... ... ... 38 8 1 Printing, advertising, office rent, furniture, and expenses ... ... ... 49 13 0 Examiner's fee ... ... ... 25 0 0 Secretary's salary ... ... ... 225 0 0 Balance of receipts over expenditure to credit of current account with Bank of New Zealand ... ... ... 1,394 18 9 £6,757 1 11 £6,757 1 11

Estimated Assets and Liabilities on 31st December, 1880. Assets. £ s. d. Liabilities. £ s. d. Mortgage securities— Governors of College— General endowment ... ... ... 12,404 17 6 Amount of fees invested ... ... 800 0 0 Scholarship endowments ... ... 1,000 0 0 Balance of fees due to 31st December, 1879 447 17 6 Simmons'prize ... ... ... 100 0 0 Fees payable for the year 1880 ... 73 0 0 Governors'fees ... ... ... 800 0 0 Outstanding accounts ... ... ... 120 0 0 Balance of loan account at Bank of New Estimated loss in collection of arrears inZealand ... ... ... ... 567 12 9 eluded in statement of assets ... ... 500 0 0 Freehold property, exclusive of buildings, Balance of assets over liabilities ... ... 35,167 11 1 estimated at ... ... ... 10,650 0 0 College buildings, estimated at ... ... 7,500 0 0 College furniture ... ... ... 720 5 2 Interest due upon loans ... ... 997 11 10 Rents due from endowments ... ... 164 0 0 Board and tuition fees due ... ... 809 2 7 Balance of current account at £ s. d. Bank of New Zealand ... 1,555 1 3 Less cheques not presented 160 2 6 1,394 18 9 £37,108 8 7 £37,108 8 7

Absteact of the Loan Account for the Tear ending 31st December, 1880. Amount outstanding upon loan on 31st £ s. d. Amount outstanding upon loan on 31st £ s. d. December, 1879 ... ... ... 14,804 17 6 December, 1880 ... ... ... 14,304 17 6 Amount on fixed deposit on 31st December, Balance to credit of loan account at Bank of 1879 ... ... ... ... 6 10 3 New Zealand on 31st December, 1880 ... 567 12 9 Balance to credit of loan account at Bank of New Zealand on 31st December, 1879 ... 61 2 6 £14,872 10 3 £14,872 10 3 Oswald Curtis, Secretary. We hereby certify that we have examined the above accounts and compared them with the several vouchers relating thereto, and found them correct, H. C. Daniell, 7 a j-i. J. T. Catley, 'jAudlt°™