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2.—Statement of Accounts. Capital Account at 31st December, 1889. Dr. £ s. d. : Cr. £ s. d. Amount lent on mortgage .. .. 10,315 0 0 j Amount for investment — I Costley bequest ~ .. .. 9,150 0 0 Rebeeea Hodge bequest .. .. 672 3 9 Advanced from unexpended revenue .. 492 16 3 £10,315 0 0 £10,315 0 0

Balance-sheet at 31st December, 1889. Assets. £ s. d. | Liabilities. £ s. d. Mortgages .. .. .. .. 10,415 0 0 Costley bequest— Land.. .. .. .. .. 378 0 0 Capital Account .. .. .. 9,150 0 0 Cash .. .. .. .. .. 245 4 0 Revenue Account .. .. .. 1,062 5 4 Rebecca Hodge bequest— Capital Account .. .. .. 672 3 9 Revenue Account .. .. .. 45 12 2 A mortgage .. .. .. .. 100 0 0 Outstanding liability ..- .. .. 8 2 9 £11,038 4 0 £11,038 4 0

Revenue Account fob the Yeah 1889. Dr. S, a. d. £ s. d. Gr. £ s. d. £ s. d. Costley bequest— Costley bequest— Expended on— Balance unexpended, 1888 .. .. 1,078 18 !> Maintenance .. .. 647 1 7 Interest on loans .. .. 068 1 0 Repairs and improvements 122 12 6 Boys'earnings .. .. 221 4 6 Furnishing .. .. 39 4 4 Gifts, &c, to boys .. .. 14 17 2 Allowance to boys .. 7 9 0 904 2 8 General expenses .. 11 10 0 Commission .. .. 17 18 6 Law charges .. .. 5 8 8 Savings-bank, to credit of boys .. .. .. 69 11 6 920 10 1 Balance unexpended .. 1,062 5 4 1,983 15 1,983 1 5 Kebecca Hodge bequest— Bebecea Hodge bequest— Expended on maintenance .. .. 50 14 4 Balance unexpended, 1888 .. .. 52 12 6 Balance unexpended .. .. .. 45 12 2 Interest on loan .. .. .. 43 14 0 £2,079 7 11 £2,079 7 11 Balances brought down — Costley bequest .. .. .. 1,062 5 4 Rebecca Hodge bequest .. .. 45 12 2 T. M. HAULTAIN, j William C. Daldy, j- Trustees. W. Thoene, j Examined and found to be correct. —L. A. Durrieu, Auditor. 10th January, 1890. [Approximate do.it of Paper. —Preparation, nil; printing (1,400 copies), £1 2s. 6d.J

By Authority: GrEOßfus Didsbury, Government Printer, Wellington. —1890