C.—s

LAND FOR SETTLEMENTS ACCOUNT —continued. Balance-sheet as at 31st March, 1936 —continued. Assets —continued.

W. Robertson, Under-Secretary for Lands. Wm. E. Shaw, Chief Accountant. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the following exception : No interest has been allowed to the Cheviot Estate in respect of the assets of the Cheviot Estate Account, which have been transferred to the Land for Settlements Account; and, moreover, the Cheviot Estate has been charged interest on the value of such assets other than cash. As a result, the accounts do not disclose the true amount of revenue earned by the Cheviot Estate and the Land for Settlements Account respectively. The following comments are appended— (1) The account contains no charge for the cost of exchange on payments of interest made in London ; (2) to avoid delay the accounts of some land districts, the audits of which have not yet been completed by the local Audit Inspector, have been accepted from the Department's records—G. F. C. Campbell, Controller and Auditor-General. Approximate Cost of Paper,—Preparation, not given; printing (524 copies), £15 10s.

By Authority : G. H. Loney, Government Printer, Wellington.—l 936.

Price 6d.\

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j General. Cheviot. Hutt Valle y' Total - £ a. d. £ s. d. £ s. d. £ s. d. £ s. d. Brought forward .. .. 12,404,807 2 11 346,926 11 1 46,234 8 1 255,790 9 10 13,053,758 11 11 Station accounts, including improvements 150,327 9 9 . . ■ . . . 150,327 9 9 and live-stock Plant and machinery .. . • • • 3,863 0 0 Less depreciation reserve thereon .. 2,699 4 0 1,163 16 0 . . . ■ 1,163 16 0 Postponements of rent, interest, &c.— Under Land Act, 1924 — Rents, &c., from estates .. 93,811 4 2 172 1 3 Instalments: Sales of Crown lands 1,481 13 8 .. 0 4 11 Land Laws Amendment Act, 1929 ; 121 16 11 Rents, &c. Under Mortgagors and Tenants Relief Act, 1933— Rents, &c., from estates .. .. 7,407 14 7 Instalments —Sales of Crown lands .. 90 6 4 . . 20 10 7 Under Deteriorated Lands Act, 1925 — Interest on advances . • • • 41 5 5 102,954 11 172 1 3 20 15 6 .. 103,146 17 10 Sundry debtors for— Bents, royalties from estates. . •• 492,538 12 1 7,307 2 8 .. 217 8 I Principal instalments: Buildings .. 16,466 14 2 Principal instalments: Sales of Crown .17,901 16 4 .. 239 11 6 lands Principal instalments: Sales of settle- 33,963 19 9 422 10 0 .. 3,730 12 1 ment lands Principal instalments : Advances under 25 10 8 Deteriorated Lands Act, 1925 Principal instalments : Loans for road- 429 19 9 mg of endowment lands under section 47, Land for Settlements Act, 1925 Interest on loans for roading of endow- 874 9 5 ment lands under section 47, Land for Settlements Act, 1925 Interest on sales of Crown lands . . 186 19 4 Interest on sales of settlement lands .. 18,346 5 6 460 5 2 .. 7,927 10 8 Interest on advances under Deteriorated 955 17 1 Lands Act, 1925 Land Laws Amendment Act, 1929— Rents .. .. • ■ ■ ■ 1,826 10 6 Interest on sales .. . . ■ ■ 165 0 10 Interest on advances under sections 7 9,303 0 7 and 14 Principal instalments: Sales under- 88 6 3 section 8 Principal instalments : Mortgages 49 6 1 Insurances .. • • ■ • 44 8 10 Departmental 3,277 13 10 .. 25 0 0 50 0 0 Miscellaneous . . • • ■ • 2,989 4 11 599,433 15 11 8,189 17 10 264 11 6 11,925 10 10 619,813 16 1 Orakei Block (see separate balance-sheet 46,310 3 8 .. 46,310 3 8 attached to Grown Lands Account) Interest accrued but not due on— Investments .. . - ■ ■ 728 10 6 . . ■ • ■ • 7-j8 10 6 Sales under deferred-payment licenses. . 5,918 7 3 69 4 9 .. 485 0 0 6,472 12 0 Outstanding losses : Suspense Account .. 13,381 18 .. 382 6 6 13,763 8 2 Capital expenditure: Unemployment Fund 10,747 18 11 .. .. 10,747 18 11 Investment in Public Debt Redemption 1,340,557 15 8 3,659 17 3 J •• 1,344,217 1_ 11 Fund ' Consolidated Fund : Proportion of interest 147,151 3 2 .. •• •• 147,151 3 2 on Loan Account Premium on loan conversions .. .. 17,941 0 0 ■■ 17,941 0 0 Land for Settlements Account: General, .. 280,614 5 8 75,313 7 1 .. 355,927 1- 9 as per contra Cash .. ■■ ■■ 160,880 13 4 .. .. 160,880 13 4 Investment Account: Securities held .. 167,865 0 0 .. ■■ 167,865 0 0 £15,170,167 19 10 £639,631 17 10 £121,833 2 2 £268,583 7 2 £16,200,216 7 0