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the water in the lake has been gradually cooling since January, 1922—the time of its maximum temperature during the past decade." Springs near Source of Mangaturuturu Stream.—" The valley of the Mangaturuturu Stream —the most extensive and interesting valley in the park—is becoming more popular. This valley can be reached in one and a half hours from the Ohakune Hut. It is reported that hot springs have been discovered near the source of this stream. It is stated that there are two sets of springs, one with a slimy red deposit, and the other has a sulphur deposit and unpleasant smell. They are situated below the Mangaturuturu Glacier (summer limit), close to the most northerly branch of the stream. I have not had a chance to visit them, but will do so during my spring holidays." Eruption of Ngauruhoe. The first activity in connection with the recent eruptions at Ngauruhoe was marked about the 9th December, 1925, and, although the main disturbance did not occur within the year 1925-26, it is e'ssential that some record of the event should be given with this report as a matter of particular interest. The article appearing in the Appendix has been taken (with the kind permission of the proprietors) from the New Zealand Free Lance of the 12th May, 1926. Winter Sports, and Excursions to Park. The following notes furnished by the various clubs are of interest Ruapehu Ski Club. —" Easter, 1925 : Two parties, a large one from Wanganui and a smaller from Auckland, spent Easter week in the park. Conditions were not good for ski-ing, although after a heavy fall of snow towards the end of the period the Aucklanders, who were camping at Glacier Hut, had a little practice. Both parties made ascents of Ruapehu, and the larger party also made a trip to Mangatepopo and an ascent of Ngauruhoe. " August, 1925 : The club's winter sports were attended by about twenty-five members, eighteen of whom made an ascent of Ruapehu. Ski-ing conditions were unfortunately not good, there being much less snow than the previous year, and, although the experts of the party were able to practise, the conditions proved unsuitable for the novices. On this account it was deemed inadvisable to hold the sports. It is worthy of remark that a few days after the party had left there were 2\ ft. of snow at Whakapapa. " Christmas, 1925 : A small party of Auckland members spent three weeks in the park, staying at Whakapapa, Glacier Hut, Waihohonu, Ketetahi, and Mangatepopo. The provision of the new recreation-hall was much appreciated from a social point of view. Excellent ski-ing was obtained within twenty minutes' climb of Glacier Hut, and in fact a small patch was available for practice purposes within 100 yards of the hut." Tararua Tramping Club.—" During August, 1925, a party of thirty-four members from the Tararua Tramping Club visited the park for the winter sports. Weather conditions were not ideal, but the members made the most of their stay, and visited the majority of the places of interest within a day's journey of Whakapapa. Just prior to their departure conditions cleared sufficiently to enable the majority to make the ascent of Ruapehu to the Crater Lake, and, although the day was bitterly cold, the view from the top was magnificent. A fair amount of ski-ing, glissading, &c., was indulged in as opportunity offered, although the snow conditions were not so good as on previous visits to the park. With such a large party the congestion at meal-times was very noticeable, but now that the Park Board has erected the new dining and recreation hall future parties should be. able to arrange their domestic affairs much more comfortably. The club wishes to express its thanks to Mr. A. J. Cowling,, who attended to all their requirements during the party's visit. " During the course of their stay the first motor-car to arrive at Whakapapa was driven in by Sir James Gunson, who was accompanied by Mr. Baildon, the Mayor of Auckland, and the Park Warden, Mr. Cullen." Finances. A further subsidy of £500 was received during the year from the Wellington City Corporation, and the Government subsidy of £500 on this contribution was duly obtained. The sum of £1,000, appropriated on the Public Works Fund estimates to assist the Board in construction of the Bruce Road, was also received. The Board has no permanent or secured source of revenue. As it has previously acknowledged, it was greatly indebted in past years to the Bruce Trustees for their generous vote from the funds of that trust. The votes of £1,000 each from the Wellington City Council and the Auckland City Council were of great value to the Board, for, together with the Bruce grant, they carried a Government subsidy of pound for pound. In that manner, with the assistance of timber royalties, which for the year under review totalled £1,560 15s. 10d., the funds of the Board have been chiefly provided. Considerably increased financial provision will have to be arranged if the further development (particularly by roading) of this magnificent National Park is to keep pace with the times, or if it is to be commensurate with the greatly increased number of visitors which may reasonably be expected with up-to-date hostel accommodation. Attached are statements setting out the financial position of the Board, comprising Statement of Receipts and Payments, Revenue Account, Capital Account, and Balance-sheet.

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