U.—4.

Statement of Stock depastured on Stations at 30th June, 1938.

MANGATU Nos. 3 AND 4. Balance-sheet as at 30th June, 1938. Liabilities. £ s. d. Assets. Mangatu No. 1 .. .. .. .. 3,745 16 8 Freehold property — £ s. d. £ s. d. Capital Account .. .. .. .. 39,640 0 0 Mangatu No. 3 .. .. 21,640 0 0 Mangatu No. 4 .. .. 18,000 0 0 39,640 0 0 Improvements— £ s. d. Fencing .. .. 577 18 7 Survey .. .. 541 17 0 1,119 15 7 Revenue Account .. 2,114 19 7 Balance, Income Account .. 511 1 6 2,626 1 1 3,745 16 8 £43,385 16 8 £43,385 16 8 Auditors' Certificate. We have audited the accounts of Mangatu Blocks 3 and 4, East Coast Native Trust Lands, for the year ended 30th'June, 1938, and our report on the audit of the accounts is contained in our letter of even date to the Hon. the Minister of Native Affairs. Clarke, Menzies, Griffin, and Co., ft ellington, 20th September, 1938. Public Accountants, Auditors. Income Account as at 30th June, 1938. £ s. d. £ s. a. Interest .. .. .. • • • • 147 3 9 Rent collected .. .. .. .. 706 11 2 Rates .. .. .. .. 94 5 9 Balance .. .. .. .. .. 511 I 6 Land-tax .. .. .. .. • ■ 7 16 8 Distribution .. .. .. .. .. 920 0 0 Management and office expenses .. .. 48 6 6 £1,217 12 8 £1,217 12 8

MANGATU No. 3. Statement of Accounts for the Year ended 30th. June, 1938. £ s. d. Balance at credit at 30th June, 1937 .. .. 9,161 19 9 Credits. £ s. d. Rent collected .. .. .. 706 11 2 Interest .. .. . . .. 413 5 3 1,119 16 5 10,281 16 2 Debits. Distribution .. .. .. 920 0 0 La,nd-tax .. .. .. .. 7 .16 8 Management and office expenses .. 35 16 6 963 13 2 Balance at credit at 30th June, 1938 .. . . £9,318 3 0

MANGATU No. 4. Statement of Accounts for the Year ended 30th June, 1938. £ s. d. Balance at debit at 30th June, 1937 .. .. 12,396 14 11 Debits. £ s. d. Rates .. .. .. ... 94 5 9 Interest .. .. .. .. 560 9 0 Management and office expenses .. 12 10 0 667 4 9 Balance at debit at 30th June, 1938 .. .. £13,063 19 8

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Sheep. Cattle. Horses. Totals. Station. J j ; Number. Value. Number. Value. Number.! Value. Number.! Value. £ s. d. £ s. d. £ s. d. £ s. d. Ivokomoko (flock) . . .. .. 3,687 2,402 17 0 452 1,618 10 0 21 338 0 0 4,160 4,359 7 0 (stud) .. .. .. 285 549 3 0 54 424 5 0 .. .. 339 973 8 0 Mangatahu .. .. .. 7,228 4,996 12 0 873 3,020 0 0 13 80 0 0 8,114 8,096 12 0 Okaihau .. .. .. .. 3,428 2,464 2 0 278 957 0 0 11 55 0 0 3,717 3,476 2 0 Pukutarewa (flock) .. .. 6,439 4,594 14 0 1,099 3,929 10 0 101 1,117 0 0 7,639 9,641 4 0 (stud).. .. .. 773 1,578 3 0 160 1,112 1 0.. .. 933 2,690 ,4 0 Tarndale .. .. .. .. 5,064 3,662 9 0 775 2,781 10 0 13 65 0 0 5,852 6,508 19 0 Waitangirua .. .. .. 4,206 2,780 5 0 593 2,190 0 0 19 110 0 0 4,818 5,080 5 0 Wairere .. .. .. .. 13,188 9,071 8 0 1,802 6,615 0 0 46 245 0 0 15,036 15,931 8 0 44,298 32,099 13 0 6,086 22,647 16 0 224 2,010 0 0 50,608 56,757 9 0