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WAYS AND MEANS. At the 31st March, 1912, the available ways and means for £ public-works purposes were . . .. . . 82,580 and further funds were received as under: — Under the Aid to Public Works and Land Settlement Act, 1911 .. .. .. .. 950,000 Under the Aid to Public Works and Land Settlement Act, 1912 .. .. .. .. 855,226 Under the New Zealand Loans Act, 1908 .. 71,679 Transfer from Consolidated Fund .. .. 750,000 Miscellaneous receipts .. .. .. .. 119,969 Making a gross total of .. .. £2,829,454 The ordinary expenditure of the year amounted to £2,378,539, charges and expenses in respect of raising loans £72,950, and redemption of debentures £1,000, thus bringing the total disbursements up to £2,452,489, and leaving a credit balance at the end of the year of £376,965 (exclusive of £249,776 proceeds of 4-per-cent. stock loan to pay off debentures due 15th April, 1913). For the current year it is proposed to provide additional funds as under :■ — £ Balance of loan of 1911 .. . . . . 100,000 Balance of loan of 1912 . . .. .. 894,774 Transfer from Consolidated Fund . . . . 675,000 Proposed new loan . . . . .. .. 1,750,000 The above, with the balance brought forward, gives a gross total of £3,796,739. The estimated expenditure for public works for the current year (excluding separate accounts having their own ways and means) amounts to £2,995,575, leaving an estimated balance of £801,164 to be carried forward to next year. In addition to the above we have authority to "raise, outside the Public Works Fund, the undermentioned sums : — £ Under the Aid to Water-power Works Act, 1910 .. 450,000 For irrigation-works, under the Irrigation and Water-supply Act, 1913 .. .. .. 100,000 Under the Waihou and Ohinemuri Rivers Improvement Act, 1910 (balance) . . . . . . 50,000 EAILWAY-CONSTEUCTION. The following sections of railway were completed and opened for traffic during the last financial year, or since its close : — M. oh. Waikohu to Otoko . . . . 7 75 . . April, 1912. Westport to Te Kuha . . 5 74 . . April, 1912. Te Wera to Pohokura .. 8 55 .. August, 1912. Kiwi to Glenhope . . .. 12 59 . . September, 1912. Mina to Parnassus . . . . 8 43 . . September, 1912. Te Hana to Kaiwaka .. 8 65 . . March, 1913. Total . . .. 52 51 The following lengths are practically completed, but have not yet been handed over to the Railway authorities for traffic : — M. eh. Maunganui to Te Puke .. . . . . .. 13 0 Pohokura to Whangamomona . . . . . . 6 13 Otoko to Rakauroa .. .. . . 6 50 Coal Creek Extension , . , , ~ 3 58

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