C.^lß.

Value of Stock. £ s. d. £ s. d. £ i. d. Amount at the 31st March, 1907 ... ... 4,877 710 Less value of trees at 31st March, 1907 ... ... ... 3,586 5 9 Less horse-feed in stock at 31st March, 1907 13 0 0 3,599 5 9 1,278 2 1 Trees, as per Schedule 1 ... ... ... ... ... 1,693 10 0 2 2,062 6 6 3 ... 935 2 0 4 ... ... ... ... ... 174 10 0 Tools and implements ... ... ... ... ... 69 11 7 Water-supply ... ... ... ... ... ... 95 7 0 Nursery-formation ... ... ... ... ... 95 12 10 Buildings ... ... ... ... ... ... 137 5 8 Improved value ... ... ... ... ... ... 109 2 0 Horse-feed in stock ... >.. ... ... ... 40 0 0 Seed-frames transferred from Kurow Nuxsey ... ... ... 120 0 0 Tools and implements from Kurow Nursery ... ... ... 81 11 2 Water-pipes, &c, from Kurow Nursery ... ... ... 25 12 11 £6,917 13 9 Summary. £ "t d Value of present stock and general improvements ... ... 6,917 13 9 Value of trees sent out since initiation of nursery ... ... 3,889 10 7 10,807 i 4 Expenditure to date ... ... ... ... ... 3,923 8 5 Credit balance ... , ... ... ... £6,883 15 11

Stock in Hand. Schedule 1.—Details of One-year-old Trees, grown 1907-8. (Sixth Crop.)

Schedule 2.—Two-year-old Trees, grown 1906-7. (Fourth Crop.)

20

Name of Tree. in Seed-beds. Number in Seed-beds. Height in Seed sown. Inches. Value per Thousand. Total Value. Remarks. Larix Europtea Pinus Larioio .. . ponderosa , Benthamiana Bentliamiana (var.) Alnus glutinosa Robinia pseudo-acacia .. Picea sitchensis Pseudotsuga taxifolia .. .. '1,000,000 500,000 .. i 63,000 25,000 20,000 18,000 34,000 1,000 34,000 2-6 3 3 3 8 3 6 1 2 Lb. 224 112 12 12 21 10 10 5 10 £ b. d. 10 0 10 0 10 0 15 0 15 0 0 15 0 0 10 0 15 0 15 0 £ 8. d. 1,000 0 0 500 0 0 63 0 0 31 5 0 25 0 0 13 10 0 17*0 0 l; 5 o 42 10 0 Good crop. Thin orop. Good crop. Poor crop. Fair crop. "' Totals .. 1,695,000 1,693 10 0

Name of Tree. I Number in Number Height Value Nursery in in per j Total Value. Remarks. Lines. Seed-beds. Iucbes. Thousand. I jarix Europsea 'inus Laricio.. a Ausiriaoa , ponderosa 'seudo-tsuga taxifolia.. ilnus ghitiuosa istula alba lotoneaster Simmoadsii .. 400,900 362,100 87,600 36,500 17,500 4,000 £ s. d. £ s. dJ 400,900 .. 6-15 2 5 0 902 0 6 Fair crop. 362,100 .. 2-4 2 5 0 814 14 6 87,600 .. 3-4 2 5 0 197 2 0J 36,500 .. 3-5 2 5 0 82 2 6 Good crop. 17,500 .. 3-5 2 10 0 43 15 0, Fair orop. 4,000 .. 6-12 2 0 0 8 0 01 Good crop 10,000 6-12 15 0 12 10 0 1,400 2-4 1 10 0 2 2 0 lojooo 1,400 Totals .. 908,600 908,600 11,400 .. .. 2,062 6 6 11,400