B.—l [PT. TV] SUP. TO 1930.

NAURU AND OCEAN ISLANDS. THE BRITISH PHOSPHATE COMMISSIONERS. Tbading Account foe the Year ended 30th June, 1929. Dr. £ S. d. Dr. £ s. d. To E. 0.8. cost of phosphate, including interest By Phosphate sales and sundry credits, less on capital, contribution to a sinking fund freight and insurance, &c. .. .. 736,420 5 0 for the redemption of capital, and other charges in accordance with Article 11 of Agreement of the 2nd July, 1919 .. 698,056 3 2 Government Appropriation Account .. 38, 364 1 10 £736,420 5 0 £736,420 5 0 BALANCE-SHEET, 30TH JUNE, 1929. Liabilities. £ s. d. Assets. £ s. d United Kingdom Government .. .. 1,424,524 12 0 Nauru and Ocean Island phosphate rights, Commonwealth Government .. .. 1,424,524 12 0" buildings and plant, and steamer "Nauru New Zealand Government .. .. .. 542,676 1 7 Chief," less reserves for depreciation and other charges in accordance with Article 11 of 3,391,725 5 7 Agreement of the 2nd July, 1919 .. .. 2,721,685 6 7 Sinking fund for redemption of capital .. 139,774 14 5 Sundry debtors and bills receivable .. .. 418,978 17 11 Sundry creditors and outstandings .. .. 249,721 3 2 Voyages in progress .. .. .. 6,959 8 2 Government Appropriation Account .. .. 46,233 13 10 Phosphate and goods in transit .. .. 146,434 4 6 Stocks at Nauru, Ocean Island, and elsewhere 255,967 17 2 Cash at banks and in hand .. .. .. 277,429 2 8 17 0 £3,827,454 17 0 We have examined the foregoing Balance-sheet with the books and vouchers of the British Phosphate Commissioners and the audited accounts from London. We have accepted the certificates of officers of the Commissioners for the valuation of the stocks. We have obtained all the information and explanations we have required. In our opinion the Balance-sheet is properly drawn up so as to exhibit a true and correct view of the state of the Commissioners' affairs according to the best of our information and the explanations given to us and as shown by the books of the Commissioners. —Kent, Brierly, and Sully, Chartered Accountants(,Aust)., Auditors. Melbourne, 9th February, 1931.

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