G.—9.

MAORI LAND BOARDS. The operations of the seven Maori Land Boards have been fully sustained during the period under review. The total receipts and payments for the year were respectively £415,805 and £439,827, as against £408,619 and £431,815 for the previous year. As at the 31st March, 1941, the liability to Native beneficiaries was £461,736, whilst funds held or invested by the Boards aggregated £626,370, under the following headings • Government securities .. .. .. .. .. .. 75,238 Mortgages and charges .. .. .. .. .. .. 340,636 On deposit with Native Trustee .. .. .. .. .. 189,614Cash balances .. .. .. .. .. .. 20,882 £626,370 The area of Native land vested in the Boards as at the 31st March, 194], amounted to 660,240 acres. NATIVE TRUSTEE. The Native Trustee acts in the capacity of agent or trustee for some ten thousand Native beneficiaries, and the various functions of the Native Trust division have been maintained. There are 1,582 estates under administration, in respect of which funds total £77,088. Native reserves comprise an area of approximately 94,000 acres, and the aggregate amount received annually by way of rental from those areas under lease is approximately £41,000. A detailed account of the operations of the ten stations farmed by the Native Trustee appears in the report of the Board of Native Affairs, but the following table indicates the scope of operations during the year Total area of farm stations .. .. .. .. .. 42,510 acres. Number of bales of wool produced .. .. .. .. 1,005 Proceeds of live-stock sold— Sheep ~ .. £15,826 Cattle .. .. .. .. .. .. £8,683 Live-stock on hand at 31st March, 1941— Sheep .. .. .. .. .. .. .. 50,416 Cattle .. .. .. .. .. .. 5,693 The following are particulars of the funds invested or held by the Native Trustee at 31st March, !941 £ Local bodies' securities .. .. .. .. .. .. 5,100 Mortgages — £ To Natives .. .. .. .. .. .. 408,231 To others .. .. .. .. .. 6,617 414,848 Station and other overdrafts .. .. .. .. .. 145,862 Properties acquired under mortgages .. .. .. .. 15,700 On fixed deposit .. .. .. .. .. .. .. 20,000 Cash balance .. .. .. .. .. .. 55,774 £657,284 The Native Trustee's liability to beneficiaries, including the Maori Land Boards, at 31st March, 1941, was £395,272, and his accumulated reserves totalled £120,000. FINANCE. The volume of business transacted by the Department during the year is indicated by the following figures. The corresponding amounts for last year were : Payments, £1,789,876 ; receipts, £1,304,541

3

Total Payments. | Total Receipts. Consolidated Fund— £ £ Civil List (Native Purposes) .. .. .. .. 4,036 Special Acts (Arawa tribes) .. .. .. .. 6,000 Vote "Native" .. .. .. .. .. .. 145,634 24,400 Court fees .. .. .. .. .. .. .. 4,738 Public Works Fund— Vote " Native Land Settlement" .. .. .. .. 1,010,847 772,403* Receipts under Native Housing Act .. .. .. .. .. 14,222 Native Trustee's Account .. .. .. .. .. 170,434 177,311 Maori Land Boards .. .. .. .. .. .. 439,827f 415,805")" 1,776,778 1,408,879 ♦Receipts from Native-land-development schemes, £478,114; grant from the Consolidated Fund, £291,669; sundries, £2,620. t Does not include deposits and withdrawals in respect of Deposit Accounts with Native Trustee.