24

C.—3

This shows that the sales of water last year amounted to £801 Is., while those for the preceding year were £1,099 18s. 3d. ; thus showing a decrease in the sales last year to the extent of £298 17* 3d. The expenditure last year was £1,089 2s. Bd., while for the previous year it amounted to £1,687 los. 6d. The actual loss on the working of this water-race last year amounted to £28d Is. Bd. There is always a large sum of money in outstanding accounts at the end of each year, and the,re does not seem to be an effort made to reduce them. . The outstanding accounts at the end of last year amounted to £1,346 4s. Id., while at the end of the previous year the amount was £1,315 15s. lid. The average number of men to whom this water-supply is the means of giving employment when water is available is 130, and the approximate quantity of gold obtained by them last year was 2,2500z., representing a value of £8,437 10s. After deducting the value of the sales of water from the value of the gold obtained the average annual earnings of the miners will be about £58 14s. lOd. a man, or about 7s. Bd. per week less than last year. The total cost of the work is £65,766 3s. Bd. Summary of Watee-baces. In considering the collateral advantages in working these water-races, the duty paid on gold has to be added to the direct profits of working, as these water-races have been the means of this revenue accruing. In dealing, therefore, with the direct profits, the value of the duty paid on gold is included, and the results of working are shown on this basis in the following table: —

Statement showing the Profits and Losses on the Working of the Water-races for Twelve Years.

The foregoing statement shows that the tojial cost of constructing these works was £844,837 16s. Bd., and also that during the twelve years they have been in operation-the total profits on the working amounts to £58,757 ss. sd. Taking the profits last year on the working, there is only one of these works which has paid for the expenditure of keeping it in repair—namely, the WainieaKumara, and that work paid about 2$ per cent, on the cost of construction.

Name of Water-race. Value of Sale of Water, including Value of any Gold obtained. Expenditure. _ _ Profit or 55.2 Loss. agon A \ orking. 3 g _"o II < Value of Goia obtained. Duty received on Gold obtained. Total Profits or Losses, with Value of Gold Duty added. Total Cost of Construction. .... Waimea-Kumara Water-race and Sludge-channel. Eleven years ending the 31st March, 1889 Year ending 31st March, 18.0 ±- s. d. £ s. d. £ s. a. . Oz. £ s. d £ s. _ s. a. £ s. a. 93,536 5 7 8,215 0 3 63,457 9 7 5,433 17 4 30,078 16 0,405 2,781 2 11!266 32,859 18 11393 184,127 10,146 685,774 19 8 38,554 16 0 ■ • Total '101,751 5 10 68,991 6 11 194,273 724,329 15 3 19,427 6 52,287 4 ll 1 173,647 7 Nelson Creek. Eleven years ending the 31st March, 1889 Year ending 31st March, 1890 16,263 17 313,265 10 7 529 18 4 917 10 4 2,998 6 8 56 *387 12 0 27 2,610 14 8 53 566 4 2 17 *96 17 3 18 30,887 846 118,142 15 6 3,235 19 0 Total 16,793 15 7: 14,183 0 11 31,733 121,378 14 6! 3.173 6 5,784 0 8' 90,722 10 Argyle. Eleven years ending the 31st March, 1889 Year ending 31st March, 1890 7,336 421 4,962 5 2 326 10 10 4,396 1 0 423 8 1 28,029 9 0 1,619 12 0 •• I 29,649 1 0 1,245 0 11 14,701 15 Total 5,288 16 0; 4,819 9 1 469 6 11 3 7 *3,197 1 10 99 *288 1 3130 7,757 775 14 Mount Ida. Eleven years ending the 31st March, 1889 Year ending 31st March, 1890 15,915 7 2 801 1 0 i 19,112 9 0 1,089 2 8 27,011 2,250 102, 368 0 0 8,437 10 0 *559 1 1 65,766 3 Total 16,716 8 2 20,201 11 8 3,485 3 1J101 29,261 110,805 10 0| 2,926 2 Grand Totals 140,550 5 7 108,195 8 7 39,425 3 7 564 263,024 986,163 0 9 26,302 8 58,757 5 5:344,837 16 I * Shows a loss on the working.