E.—l

96

James A. Bonae, Chairman. Edwaed T. Bobinson, Secretary. Examined and found correct. —James Edwaed FitzGeeald, Controller and Auditor-General.

CANTEEBUEY. Sib, — Christchurch, 4th January, 1889. The total area of the primary education estate under lease on the 31st December, 1888, is 45,134 acres, producing an annual rental of £15,282 14s. lOd. There are now only 46f acres of the estate unlet, and this consists of sand-hill and shingly plain, and is comparatively valueless. The fixed deposit of £100, which matured on the 22nd December, 1888, has been redeposited for one year, it being deemed inexpedient at present to purchase land, for which purpose only is this sum available. The interest, when received, will be credited to the primary estate as revenue. During the past year seven reserves have been relet for fourteen years. Of these, two were let by tender with one subdivision ; and five were, after subdivision into twenty farms, let by tender, with the exception of one old tenant being allowed a renewal of lease, by arbitration, of one of the lots into which his reserve was divided, and upon which he lived. During the year 1889 the leases of twenty reserves fall in, which it has been decided to deal with as follows: namely, thirteen to be let by tender without subdivision, ten of these being under 100 acres each in extent; five, containing 4,152 acres, to be let by tender after subdivision into eighteen or nineteen farms; and two by arbitration, under clause 245 of " The Land Act, 1885." From the reletting of above reserves a gain of about £250 per annum to the rental is anticipated. None of these reserves, with the exception of one small one, fall in before the Ist November next. The Hon. the Minister of Education. H. E. Webb, Chairman.

General Statement of Receipts and Expenditure for the Year ending 31st December, 1888.

ixpem ;«.?•< £ s. d. £ s. d. £ s. a. By Secretary to Commissioners, travelling-expenses and sundries Printing Legal expenses Secretary to Commissioners, commission Credit balance 8 2 8 10 29 4 2 11 19 7 0 0 0 6 2 3 1 8 1 7 0 0 2 0 4 0 0 6 0 9 11 2 0 4 10 0 37 6 6 3 11 6 26 11 11 Total expenditure 62 14 8 20 7 3 83 1 11 Assets. Credit balances Arrears of rent Debit balance £ 19 8 51 s. 7 0 4 d. 2 0 8 £ s. 7 4 10 0 d. 9 0 £ s. d. 26 11 11 18 0 0 51 4 8 Total assets 78 11 10 17 4 9 95 16 7 Liabilities. 'rimary Account due to Secondary Account Total liabilities £ s. 95 16 95 16 a. 7 7 J £ s. d. £ s. 95 16 a. 7 95 16 7

'eceipts. Primary Education Estate. Total. £ s. d. £ s. a. 170 17 2 414 18 7 'o Balance brought down from 31st December, 1887 Arrears due 1st November, 1887, from last account Moneys payable within the year 1888, and collected, viz.— On account of half-year's rent payable in advance on the 1st May, 1888 ... On account of half-year's rent payable in advance on the 1st November, 1888 7,477 8 1 6,989 10 2 14,466 18 3 Other receipts— Bank of New Zealand —Interest on £100 placed on deposit for one year (see statement of 31st December, 1887) ... 4 10 0 Total receipts 15,057 4 0