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Ruatangata Nursery. £ s. d. £ s. d. £ s d. Amount at the 31st March, 1905 ... ... 2,237 13 1 Less value of trees ... ... 1,119 16 6 horse-feed ... 40 0 0 1,159 16 6 1,077 16 7 Trees as per Schedule F ~. ... ... ... ... 81113 0 F 1 ... ... ... ... ... 405 10 0 F 3 t ... 408 15 2 Nursery-formation ... ... ... ... ... 210 1 5 Tools and implements ... ... ... ... ... 27 3 2 Seed-frames ... ... ... ... ... ... 64 9 2 Buildings... ... ... ... ... ... ... 91 0 7 Horse-feed in stock ... ... ... ... ... 136 0 0 Improved value .. ... ... ... ... ... 320 19 1 £3,553 8 2 Naseby Survey Paddock Plantation. £ s. d. Amount at the 31st March, 1905 ... ... ... ... 3,275 17 6 Trees as per Schedule A 8 ... ... ... ... ... 46 4 0 Tree-planting ... ... ... ... ... ... 16 7 9 Carting trees ... ... ... . ... ... 2 12 6 Improved value by labour ... ... .... ... ... 68 1 6 Increased value ... ... ... ... ... ... 115 14 4 £3,524 17 7 Gimmerburn Reserve. £ s. d. £ s. d. Amount at the 31st March, 1905... ... ...1,239 17 0 Less trees charged in error 1904-5 ... 26 16 5 1,213 0 7 Trees as per Schedule A 8 ... ... ... ... ... 350 15 6 Cartage of trees ... ... ... ... ... ... 16 4 0 Tree-planting ... ... ... ... ... ... 115 0 2 Pitting ... ... ... ... ... ... ... 16 17 0 Heeling in trees ... ... ... ... ... ... 516 0 Men's huts ... ... ... ... ... ... 57 3 0 0at5—2,176 bushels, at 2s. per bushel ... ... ... 217 12 0 Improved value by labour ~ ... ... ... ... 72 1 3 £2,064 10 3 Dusky Hill Plantation. £ s. d. Amount at the 31st March, 1905 ... ... ... 17,519 9 2 Trees planted as per Schedule B 3 ... ... ... ... 209 1110 Trees raised from seed—2l,9so ... ... ... ... 43 9 1 Cartage of trees from nursery ... ... ... ... 376 Planting trees ... ... ... ... ... ... 64 1 6 Pitting ... ... ... ... ... ... ... 76 7 6 Tools, implements ... ... ... ... ... ... 15 15 0 Improved value by labour ... ... ... ... ... 309 14 2 Increased value ... ... ... ... ... ... 688 6 4 £18,930 2 1 Conical Hills Plantation. £ s. dAmount at the 31st March, 1905 ... ... ... ...7,313 6 1 Trees planted as per Schedule B s ... ... ... ... 1,849 7 6 Trees raised from 5eed—239,600 ... ... ... ... 470 9 6 Cartage of trees from nursery ... ... ... ... 17 12 6 Planting trees ... ... ... ... ... ... 470 0 3 Pitting ... ... ... ... ... ... ... 726 3 0 Tools, implements, &c. ... ... ... ... ... 11 15 1 Improved value by labour ... ... ... ... .. 455 10 10 Increased value ... ... ... ... ... ... 349 19 7 £11,664 4 4 Waitahuna Plantation. £ s. d. Fencing ... ... ... ... ... ... ... 25 7 7 Improved value by labour ... ... ... ... . 14 2 0 £39 9 7