C.—l

4

Educational Endowment. Under the administration of the various Land Boards there is an area of approximately 819,000 acres of educational endowments leased to 4,035 tenants, who pay an annual rental of £127,130. There are a considerable number of these reserves situated in urban area's, and carrving a very large prospective value. Great attention is paid to the administration of these lands, and every care taken to ensure that adequate rentals are obtained. Forfeitures and Surrenders. In the case of Crown areas held under permanent tenures the following forfeitures and surrenders occurred during the year : — Number. Area (Acres). Annual Rental. £ Forfeitures .. .. .. .. 316 121,736 11,816 Surrenders .. .. .. .. 114 247,002 6,189 Totals .. .. ..430 368,738 £18,005 The total forfeitures' and surrenders represents 1-469 per cent, of the number of settlers holding permanent leases and licenses. The total area of 368,738 acres involved appears large, but it includes approximately 256,000 acres of pastoral-run country'. Forfeitures and surrenders of miscellaneous and temporary leases numbered 445, covering a total area of 72,696 acres. Receipts. The receipts for the year from all sources (excluding, of course, Discharged Soldiers Settlement Account receipts) total £1,245,338, a decrease of £52,150 on last year's figures. The sum of £351,825 was derived from ordinary Crown lands, £555,538 from lands held under the Land for Settlements Act (including Hutt Valley and Cheviot Estate), £147,154 from the national endowment, and £125,368 from the education endowment. Cash received on the conversion of leaseholds to freehold tenure has shown a decrease of-approxi-mately £30,000, although the actual number of purchasers is much the same. The following table gives the relation of this freehold revenue to total receipts during the past five years : — Conversions to Amount yielded Total Freehold. therefrom. Receipts. £ £ Year ending 31st March, 1923 .. .. 249 57,809 1,208,422 1924 .. ..373 104,076 1,329,074 1925 .. ..341 98,344 1,272,724 1926 .. ..305 107,148 1,297,488 1927 .. ..304 76,570 1,245,338 Of the 304 conversions to freehold, during the year, 240 were in the North Island districts. Postponements. Postponements of payment of rent were granted to 288 tenants during the year, involving the sum of £37,021. At the 31st March, £166,959 remained postponed on account of 1.123 tenants, as against £192,539 on account of 1,528 tenants at the 31st March, 1926. Arrears. Rents in arrear at the 31st March amounted to £227,191, an increase of £5,043 on last year's figures. The year was a difficult one for many farmers, and although some districts have shown an improvement it has not been possible to effect an all-round reduction in rental arrears. The following shows the position in regard to arrears of rent for the past five years — £ Year ending 31st March, 1923 .. .. .. .. .. 358,225 1924 .. .. .. .. .. 544.448 1925 .. .. .. .. .. 301,659 1926 .. .. .. .. .. 222,148 1927 .. .. .. .. .. 227,191 Rebates. For prompt payment of rent 15,714 Crown tenants were granted the usual rebate in terms of section 123 of the Land Act, 1924, and section 59 of the Land for Settlements Act, 1925. These rebates amounted to a total of £52,383. National Endowment. Of the area in the national endowment, 6,731,289 acres were held under lease or license at the 31st March by 4,485 tenants, paying an annual rental of £138,040, while a very large area (partly however, covered by existing leases) had been set aside as provisional State forests. For further particulars re the national endowment see parliamentary paper C.-14.