8.—15 a.

B.—Profit and Loss Account for Twelve Months ending 31st March, 1906.

Statement of Receipts and Expenditure for the Year ending 31st March, 1906.

6

£ s. d. Transfer to Realisation Adjustment Aocount .. ■• •• •• 16 7 Land and income tax .. £8,127 8 9 General oharges .. 3,599 2 1 £ s. u. Balance, 31st March, 1905 .. .. 147,08116 7 Net profit on stations .. .. 18,672 9 5 Revenue from freeholds and other properties,— Rent .. •• £493 7 6 Interest .. •• 14,797 12 5 11,726 10 10 Less land and inoome tax paid 1905 and 1906 on account of debentureholders refunded by thebank .. .. _3 1 482_1_5 g & Interest on debentures .. •• 42,176 10 10 Revenue accrued—Reversal entry, 31st March, 1905 4,070 4 7 Balance 184,963 2 8 15,290 19 11 Deduct expenditure on account of properties .. 990 7 11 r 14,300 12 0 Revenue accrued .. .. •• 3,569 2 11 Exchange Account .. .. ■ • 1 11 4 Bank of New Zealand, — Payment in terms of Act £50,000 0 0 Additional payment .. 152,910 11 10 202,910 11 10 £386,536 4 1 £386,536 4 1 The balance of £184,963 2s. 8d. here shown represents the balance of the statutory payments by the bank after providing for debenture interest, and will be transferred to the Realisation Adjustment Account as at the 1st April. The relative cash has been applied to the redemption of debentures. Contingent Asset. Amount outstanding at 31st March, 1906, £ s. d. and due by Bank of New Zealand .. 50,000 0 0 Amounts previously received under this ■ bead .. 500,000 0 0 Additional payment for 1902 .. .. 101,135 0 0 1903 .. .. 116,782 8 4 1904 .. .. 125,532 1 8 1905 .. .. 152,910 11 10 £996,360 1 10 W. 0. Cuff, Aocountant. G. T. W. G. P. W.C.

Recei ipts. Expenc liture. Capital. Properties sold and purchased ... Live-stock and implements sold and purchased Redemption of debentures Permanent improvements £ s. d. 147,732 3 3 69,610 12 7 £ s. d. £ s. d. 375 12 10 33,257 4 5 £ s. d. 217,342 15 10 357,500 0 0 3,601 15 6 394,734 12 9 General. Interest account Interest on debentures ... Exchange Rent ••■ ••• Payments by Bank of New Zealand Maintenance of properties Realisation expenses and members' t ra veiling-expenses Charges Petty cash Sundry receipts 14,802 2 5 5 12 9 407 13 10 202,910 11 10 15 12 6 42,176 10 10 3 12 1,244" 3 11 2,399 2 5 • 58,290 1 5 75 4 11 4,123 4 3 12,371 10 7 80 0 0 276 19 3 222,601 9 3 ! Stations. Wool and other produce Rent, &c. Wages Repairs Rates and taxes Cost of growing turnips (stock-feed) Renewing pastures for grassing ... Rabbiting Manure Creamery and cheese-factory Grazing Stores and fuel Sundry disbursements ... 39,034 18 0 326 12 3 5,003 8 8 1,183 12 11 10,540 2 0 1,378 17 5 1,547 0 5 2,761 7 8 6,302 14 6 143 12 3 4,668 14 0 647 11 8 151 19 11 730 14 10 1,808 7 7 - 36,868 3 10 906 18 11 40,268 9 9,680 3 2 9 Balance 1489,892 18 0; J489.892 18 0 W. C. Cuff, Accountant.