8.—14,

10

£ s. d. £ s. A. Cash balance, Ist April, 1903 .. .. .. .. .. .. .. ..29,157 14 10 Money borrowed to make advances to local bodies .. .. .. .. .. .. 205,000 0 0 234,157 14 10 Money advanced to local bodies .. .. .. .. .. .. .. .. 195,652 0 0 Money advanced under section 73 of " The Local Bodies' Loans Act, 1901 " .. .. .. 25,752 18 10 221,404 18 10 Less refunds by— £ s. d. Ashburton County Council .. .. .. .. .. 15 6 1 Eketahuna County Council .. .. .. .. .. 185 Geraldine County Council .. .. .. .. .. 124 1 7 Pahiatua County Council .. .. .. .. .. 23 0 9 Pahiatua County Council .. .. .. .. .. 54 13 8 Pabiatua County Council .. .. .. .. .. 218 16 5 Akaroa Borough Council .. .. .. .. .. 187 010 Blenheim Borough Council .. .. .. .. .. 40 15 4 665 3 1 220,739 15 9 Cash balance, 31st March, 1904 .. .... .. .. .. .. .. £13,417 19 1 Statement of Liabilities. Outstanding liabilities, — £ s. d. £ s. d. £' s. d. Debentures issued under the Government Loans to Local Bodies Acts*.. .. 2,227,100 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 .. .. .. .. .. 249,724 0 0 Money liable to be advanced as required when the provisions of the Act are complied with .. .. .. .. .. 54,928 0 0 304,652 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 .. .. .. .. .. 79,784 18 6 Applications for loans for which the necessary steps are not yet completed .. .. .. .. .. .. 27,536 0 0 107,320 18 6 : £2,639,072 18 6 Statement op Assets. Assets, — £ s. d. £ a. d. £ s. d. Payments for twenty-six years of 4J per cent, per annum on amount of inscribed debts of local bodies (£1,005,880{) .. .. .. 1,176,879 12 0 Payments for thirty-two years of 4 per cent, per annum on amount of inscribed debts of local bodies (£42,067{) .. .. .. .. 53,845 14 8 Payments for forty-one years of 3J per cent, per annum on amount of inscribed debts of local bodies (£809,205}) .. .. .. 1,161,209 3 6 2,391,934 10 2 Less amount paid in respect of the annual repayments .. 592,019 18 1 1,799,914 12 1 Inscribed debt under " The Government Loans to Local Bodies Aot Amendment Act, 1891 " .. .. .. .. .. 358,665 15 10 Less amount refunded on disposal of lands .. .. .. 160,955 11 6 197,710 4 4 Sinking fund created under section 96 of "The Looal Bodies' Loans Act, 1901" .. .. .. .. .. .. .. .. 364,097 0 2 Cash balance, 31st March, 1904 .. .. .. .. .. .. 13,417 19 1 £2,375,139 15 8

Jas. B. Heywood, The Treasury, 26th June, 1904. Secretary to the Treasury. Note.—The total amount borrowed up to the 31st March, 1904, was .£2,227,100. The total amount repaid to Public Works Fund up to the 31st March, 1904, was £89,800. The total amount advanced to local bodies up to the 31st March, 1904, was £1,777,550 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, 1904, was £358,665 15s. 10d. • £1,421,800 of this amount has been converted into consolidated-stock debentures under " The Consolidated Stock Act, 1884." \ Including second year's grants, for which all formalities have been completed. J These amounts represent the debt as inscribed on the Ist February, 1904. They include the inscribed stock exchanged for debentures under " The Eoads and Bridges Construction Act, 1882," amounting to £89,878 Bs. 9d. (See 8.-13,1891.) Approximate Cost of Paper.— Preparation, not given; printing (1,425 copies), £13 3s. 6d.

By Authority : John Mackay, Government Printer, Wellington.—l9o4.

Price 6d.]