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Balance-sheet as at 31st March, 1919. Liabilities. £ s. d. Assets. £ s. d. Loan Account— Advances on mortgage-— £ s. d. Debentures issued .. .. 900,000 0 0 Current Account .. 301,315 15 8 Consolidated Fund— instalment, rural lands 207,206 9 10 Interest paid .. .. 21,554 5 1 Instalment, dwellings 211,648 411 Interest paid in advance .. .. 33 1 7 ■ 720,170 10 5 Sundry creditors— £ s. d. Interest accrued on mortgages .. 12,431 1 3 Vouchers in transit .. 39,761 1 10 Forfeited holdings, not yet liquidated.. 2,254 2 3 Cr. balances on Current Sundry debtors .. .. .. 247 17 11 Account .. .. 60 5 6 Stocks on hand, 31st March, 1919— 39,827 7 4 Wire, iron, building- £ s. d. Realization Suspense Account ■ .. 289 18 8 material, &c. .. 3,183 12 11 Suspense Account .. .. .. 4 6 4 Live-stock .. .. 4,644 10 11 Revenue Account .. .. .. 1,035 1 5 Monte Cristo Development Account .. 43 0 0 7,871 3 10 Cash in hand, 31st March, 1919 .. 219,769 4 9 £962,744 0 5 £962,744 0 5 T. N. Brodrick, Under-Secretary for Lands. J. H. O'DONNELL, Chief Accountant.

Approximate Cost of Paper. —Preparation, not given; printing (1,600 copies), £25.

Authority : Marcus F. Marks, Government Printer, Wellington. —1919.

Price fiti]