8.—14.

£ a. d. £ s. d. Cash balance, 1st April, 1902 .. .. .. .. .. .. .. .. 2,769 17 3 Money borrowed to make advances to local bodies .. .. .. .. .. .. 278,000 0 0 280,769 17 8 Money advanced to local bodies .. .. .. .. .. .. .. .. 234,870 0 0 Money advanced under section 73 of " The Tjocal Bodies' Loans Act, 1901 " .. .. .. 18,578 10 3 253,448 10 3 Less refunds by— £ s. d. Bruce County Counoil .. .. .. .. .. 71 4 1 Eketahuna County Council .. .. .. .. .. 49 5 11 Horowhenua County Council.. .. .. .. .. 500 0 0 Masterton County Council .. .. .. .. .. 699 18 3 Rangitikei County Counoil .. .. .. .. .. 49 8 11 Stratford County Council .. .. .. .. .. 363 16 2 Arch Hill Road Board .. .. .. .. .. 3 16 6 Eden Terrace Road Board .. .. .. .. .. 38 15 10 Pukekohe West Road Board .. .. .. .. .. 6 18 1 Hastings Borough Council .. .. 047 Temuka Borough Council .. .. .. .. .. 40 3 3 Aorangi Land-drainage Board .. .. .. .. 12 16 3 1.836 7 10 251,612 2 5 Cash balance, 31st March, 1903 .. .. .. .. .. .. .. .. £29.157 14 10 Statement of Liabilities. Outstanding liabilities, — £ s. d. £ s. d. £ s. d. Debentures issued under the Government Loans to Local Bodies Acts*.. 2,022,100 0 0 Under " The Government Loans to Local Bodies Act, 1886," and " The Local Bodies' Loans Act, 1901 " — Money promised to local authorities which have complied with the provisions of the Actf .. .. .. .. .. 210,761 0 0 Money liable to be advanced as required when the provisions of the Act are complied with .. .. .. .. .. 148,549 0 0 359,310 0 0 Under " The Government Loans to Local Bodies Act Amendment Act, 1891," and section 73 of " The Local Bodies' Loans Act, 1901 "— Unpaid balance of loans .. .. .. .. .. 80,342 1 8 Applications for loans for which the necessary steps are not yet completed .. .. .. .. .. .. 14,074 0 0 94,416 1 8 £2,475,826 1 8 Statement of Assets. Assets, — £ s. d. £ s. d. £ s. d. Payments for twenty-six years of 4J per cent, per annum on amount of inscribed debts of local bodies (£964,361{) .. .. .. 1,128,302 3 2 Payments for thirty-two years of 4 per cent per annum on amount of inscribed debts of local bodies (£30,430{) .. .. .. .. 38,950 8 0 Pavments for forty-one years of 3J per cent, per annum on amount of " inscribed debts of local bodies (£674,689+) .. .. .. 896,178 12 3 2,063,431 3 5 Less amount paid in respect of the annual repayments .. 524,522 0 9 — 1,538,909 2 8 Inscribed debt under " The Government Loans to Local Bodies Aot Amendment Act, 1891" .. .. .. .. .. 332,912 17 0 Less amount refunded on disposal of lands .. .. .. 133,636 15 10 199,276 1 2 Sinking fund created under section 96 of "The Local Bodies' Loans Act, 1901" .. .. .. .. .. .. .. .. 314,963 13 4 Cash balance, 31st March, 1903 .. .. .. .. .. .. 29,157 14 10 £2,082,306 12 0

The Treasury, * Eobebt J. Collins, 22nd June, L90S. Assistant Secretary to the Treasury. Note.—The total amount borrowed up to the 31st March, 1903, was £2,022.100. The total amount repaid to Public Works Fund up to the 31st March, 1903, was £89,800. The total amount advanced to local bodies up to the 31st March, 1903, was £1,581,898 4s. The total amount advanced under " The Government Loans to Local Bodies Act Amendment Act, 1891." and " The Local Bodies' Loans Act, 1901," up to the 31st March, 1903, was £332,912 17s.

* £1,421,801) of this amount lias been converted into consolidated-stock debentures under " The Consolidated Stock Act, 1884." t Including second year's grants, for which all formalities have been completed. j These amounts represent the debt as inscribed on the Ist February, 1903. They include the inscribed stock exchanged for debentures under The Roads and Bridges Construction Act, 1882." amounting to £89,878 Bs. 9d. (See 8.-13,1891.)

Approximate Cost of Papr.r. —Preparation, noti given; printing (1,410 copies), £12.

Price tid,]

Authority: John Mackay, Government Printer, Wellington. -1908.

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