3

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Tahora No. 2.. —All leaseholds, are being well improved, and will be,carrying stock within the next year. 10,800 acres will be offered for lease immediately on completion of survey now in hand. Tawapata South. —Pastoral land, partly improved; further improvements are being effected by the lessee. Rental is applied in payment of interest and outgoings and towards a sinking fund for redemption of mortgage for £6,000 raised by Board to pay off the bank's claim on the block. Whangawehi La.—Partly improved pastoral country. Held under old lease. Rental applied in payment of interest on mortgage raised to pay off bank claim. Whangawehi lb and lc. —Partly improved pastoral country. Held under old lease. Rental placed to credit of block pending an adjustment of interests.

Abstract of Receipts and Payments of the East Coast Native Trust Lands Board from Date of the Appointment of the Board to the 25th August, 1906. Receipts. £ s. d. Payments. . £ s. d. Sales of freehold— Bank of New Zealand, on account of a debt 117,416 12 8 Secured to Bank of New Zealand . . 103,646 15 2 Amount lodged with Bank of New Zealand Not secured to the bank . . . . 12,667 18 0 as security for old law-costs .. .. 1,750 0 0 Sums raised on mortgage . . .. 33,742 8 4 Trustees' liabilities paid off .. .. 21,031 10 8 Bank of New Zealand— . . Mortgage advances repaid 7,742 8 4 Final rebate oft debt .. . . 5,000 0 0 Rents paid to beneficiaries .. .. 901 15 2 Surplus on produce-consignments and Subdivision expenses and improvements.. 4,399 2 9 sundries .. .. .. 691 1 11 Sale-expenses .. .. . . 1,438 0 6 Repayment of amount lodged with bank Rates .. .. .. .. 519 8 2 as security for old law-costs .. .. 1,750 0 0 Interest .. ... .. .. 3,363 17 6 Rents .. .. .. .. 7,497 9 5 Law-costs .. .. .. .. 993 14,-3 Interest on purchase-moneys .. . . 2,328 16 10 Salaries, members of Board .. .. 3,400 0 0 Refunds— „ office .. . . . . 708 6 8 Roading and improvements .. .. [187 18 0 Travelling-expenses .. .. .. 211 6 8 Sale-expenses .. .. .. ' 100 0 0 Office expenditure and audit .. .. 67 18 5 Rates and sundries .. .. .. 134 111 Contractors' deposits repaid .. .. 60 0 0 Contractors' deposits .. .. .. ! [60 0 0 164,004 1 9 Balance, cash in Bank of New Zealand .. 3,702 7 10 £167,706 9 7 £167,706 9 7 Freeholds. —After sale of the freeholds as shown, the Board still holds for the sole benefit of the Native owners lands of an estimated net value of £175,811. Bank Debt. —At the 30th January, 1904, the amount owing to the bank was £159,029 2s. 4d., off which a rebate of £20,000 was allowed by the bank; £117,416 12s. Bd. was paid by the Board in cash as shown; the balance was liquidated by proceeds of sales of live-stock and produce not included in the bank's accounts, which deal only with the land. After payment of the debt the bank made the further final rebate of £5,000 shown above, and on realisation paid over the surplus of £691 Is. lid. on produce-consignments and sundries. J. Maofaelane, Chairman. W. Shrimpton, )A, , J. A. Harding, [ Members - Gisborne, 25th August, 1906. T. A. Coleman, Secretary.

Statement of Receipts and Payments of the East Coast Native Trust Lands Board from the Ist August, 1905, to the 25th August, 1906. Receipts. £ s. d. Payments. £ s. d Sale of freehold not secured to the Bank of Balance, 31st July, 1905 .. 350 8 7 New Zealand —Maraetaha No. 2, part Mortgages paid off .. .. . . 5,000 0 0 Sections 3 and 6 .. .. .. 4,598 0 0 Subdivision expenses and improvements— Purchase-moneys for sales of freehold as per Mangaheia 2d .. .. .. 108 4 8 former accounts .. .. .. 2,265 11 11 Matawhero Nos. 1 and 5 .. .. 120 14 0 Rents— Pakowhai .. .. . . .. 414 3 Paremata .. .. .. .. 405 510 Mangapoike .. .. .. 477 210 Mangapoike No. 2 .. .. .. 1,426 19 7 Tahora No. 2 .. . . . . 541 15 S Mangaheia 2d .. .. .. 1,756 7 1 Sale-expenses, valuations, and sundries .. 85 6 6 Tawapata South No. 1. . .. .. 782 9 4 Rents paid to Native owners . . 621 10 ! Pakowhai .. .. .. .. 60 0 0 Payments on account of Trustees' liaWhangawehi lα, Iβ, lc .. .. 118 2 6 bilities .. .. .. .. 4,359 010 Moutere No. 2 .. .. .. 117 6 Rates . . .. .. .. 58 19 4 Tahora No. 2 .. .. .. 361 13 3 Interest .. .. .. .. 1,685 11 8 Interest on purchase-moneys .. .. 629 15 8 Law-costs . . . . . . '14 17 0 Bank of New Zealand— Salaries, members of Board . . .. §700 0 0 Rebate off debt .. .. .. 5,000 0 0 „ office .. .. . . JV2I6 13 4 Surplus on realisation of produce and Travelling-expenses . . .. . . 21 8 0 sundries .. .. .. .. 691 11] Audit and office expenditure .. .. 28 10 2 Balance, bank credit, 25th August, 1906 .. 3,702 710 £18,097 4 7 &mm~~l J. Macfarlane, Chairman. J. A. Harding, Member. Gisborne, 25th August, 1906. T. A. Coleman, Secretary. Examined and found correct. — J, Standtmann, F.I.A.N.Z.