C.— 2a

NEW ZEALAND STATE COAL-MlNES—continued. General Profit and Loss Account. Dr. Cr. Net loss, 1941-42— £ £ Net profit, 1941-42— £ £ Strongman Colliery .. .. .. 2,736 Liverpool Colliery .. .. .. 5,328 Blackball Colliery .. .. .. 8,729 James Colliery .. .. .. 3,587 Wanganui Depot .. .. .. 14 Mangapehi Colliery .. .. .. 3,070 11,479 Mac Donald Colliery .. .. .. 2,482 Runanga Water-supply Scheme .. .. .. 1,000 Wellington Depot .. .. .. 4,219 Stores, sales .. .. .. .. .. 359 Christchurch Depot .. .. .. 1,862 Balance: Net profit for year carried down .. .. 22,534 20,548. Net recoveries— Seddonville Colliery .. .. .. 49 Royalties .. .. .. .. 4,223 4,272 Net revenue from hire of plant, buildings, &c. .. 197 Interest on investments .. .. .. .. 10,355 £35,372 £35,372 Profit and Loss Appropriation Account. Dr. £ Cr. £ Taxation reserve for income and other taxes .. .. 18,584 Net profit for year 1941-42 .. .. .. .. 22,534 Sinking Fund Account for redemption loan capital .. 9,164 Transfer from General Reserve (see section 3 (3). Finance Act (No. 2), 1939) .. .. .. .. 5,214 £27,748 £27,748-Balance-sheet as at 31st March, 1942-. Liabilities. Assets. Loan capital — £ £ Collieries —• £ £ Securities at 1| per cent. .. .. 100,000 Development and Property Accounts .. 239,765 Securities at 3 per cent. .. .. 169,465 Machinery, plant, ropes, and rolling-stock . . 92,655 Securities at 4 per cent. .. .. 51,667 Electrical plant (James Colliery) .. .. 1,624 321,132 Buildings at mines .. .. .. 47,797 Accrued interest on loan capital .. .. .. 1,809 Cottages at mines .. .. .. 30,492 Sundry creditors— Plantations at mines .. .. .. 641 South Island collieries .. .. .. 45,821 Coal stocks (bins, wharf, and afloat) .. 5,716 North Island collieries .. .. .. 6,533 Stores on hand .. .. .. 54,562 Christohurch Depot .. .. .. 5,271 Wellington Depot .. .. .. 9,557 473,252 — 67,182 Less provisionally written off .. .. 65 Deposits on contracts .. .. .. .. 1,630 ——— 473 ,187 Sinking Fund .. .. .. .. .'. 9,165 Prospecting on State coal reserve .. .. .. 2,807 Reserves — Plant, equipment, &c., on hire .. .. .. 2,083. General Reserve .. .. .. 241,838 Depots— Accident Insurance Reserve .. .. 18,807 Property Accounts .. .. .. 12,591 Bad Debts Reserve .. .. .. 2,003 Stocks and stores on hand .. .. 15,042 Taxation Reserve .. .. .. 18,811 281,459 27,633 Less provisionally written off .. .. 3,038 24,595Sinking Fund investments.. .. .. .. 9,165 Housing advances to workmen .. .. 34,923 Interest accrued due .. . . .. 370 35,293 Miscellaneous advances .. .. .. .. 5,781 Sundry debtors— South Island collieries .. .. .. 10,094 North Island collieries .. .. .. 895 Mac Donald Colliery .. .. .. 1,395 Wellington Depot .. .. .. 59,580 Christchurch Depot .. . . . . 8,343 80,307 Less provisionally written off .. ~ 180 80,127 Cash in Receiver-General's Deposit Account .. .. 1,630Cash in Public Account .. .. .. .. 47,709 £682,377 £682,377 State Coal-mines Office, Wellington C. 1, P. C. Webb, Minister of Mines. M. L. Thomas, Accountant. I hereby certify that the attached Working and Profit and Loss Accounts of Depot and Collieries, General Profit and Loss 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. —Cyril G. Collins, Controller and Auditor-General.

IV