B.—i [Pt. iv;

NATIVE TRUSTEE Interest Account, 1941—42 Dr. Or. £ Interest allocated to amounts held under— Interest on mortgage and other investments .. .. 26,934 Native Land Act, 1931—■ £ £ Part 111 .. •• •• •• 5,675 Part X .. .. ■■ •• 1.556 Miscellaneous .. .. . . • ■ 87 7,318 Native Trustee Act, 1930 .. .. ■ ■ • • 374 Native Purposes Act, 1931 .. ■ ■ • ■ HO Maori Purposes Fund Act, 1934-35 .. .. 1,296 Native Housing Amendment Act, 1938 .. .. 978 West Coast Settlement Reserves Act, 1892 .. .. 179 Miscellaneous funds .. • • • • ■ • 85 Interest on advances under — £ Native' Land Act, 1931, section 521 .. .. 1,835 Post Office loan . . ■. • • • • 757 2,592 Surplus, carried to Revenue Account . . .. ■ • 14,002 £26,934 £26,934 Revenue Account, 1941—42 Dr. £ Gr. £ Administration expenses: Contribution to Consolidated Balance from Interest Account .. .. .. 14,002 Fund .. ~ .. .. 12,200 Commission .. .. .. .. •• 5,098 Department's portion of war damage-premiums on pro- Fees .. .. .. . • ■ • • • 387 perties subject to mortgages and charges .. .. 2 Net working profit on properties acquired under mortgage 872 Net profit for year carried down .. .. • • 8,157 £20,359 £20,359 £ ~~ £ Fees written off .. .. .. .. .. 15 Net profit for year brought down .. .. .. 8,157 Net surplus, transferred to Appropriation Account .. 8,353 Adjustments in respect of previous year (net) .. .. 211 ~M6B £8,368 Appropriation Account, 1941-42 Dr. ■ Gr - £ Payment to Consolidated Fund of one-third of the Native £ Balance, Ist April, 1941 .. .. .. •• 16,636 Trust Office profits for the period Ist April 1936, to Net surplus, transferred from Revenue Account .. 8,353 31st March, 1940 .. .. •• 8,631 Balance, 31st March, 1942 .. .. .. •• 15,258 £23,889 Balance-sheet of the Native Trustee as at 31st March, 1942 Liabilities Assets Amounts held under— £ £ Mortgages and other investments Native Reserves Act, 1882 .. .. 62,054 (book value)*- 1 £ £ West Coast Settlement Reserves Act, 1892 44,708 Mortgages .. .. .. 3J8,217 Native Land Act, 1931— Less assignment to Post Office 18,498 Part X .. .. •• 54,447 379,719 £ Local-body securities .. .. •• 5,100 Maori Land Board funds .. 177,909 Properties acquired under mortgage .. 17,014 Special investments . . .. 450 Advances (on overdraft) to estates and Miscellaneous .. .. 6,431 accounts .. .. .. .. 160,631 184,790 Fixed deposit with National Bank 01 New Native Trustee Act, 1930 .. .. 20,770 Zealand .. .. .. .. 35,000 Native Purposes Act, 1931 .. .. 3,146 ' Maori Purposes Fund Act, 1934-35 .. 44,388 Interest and rent due and accrued .. .. .. Native Housing Amendment Act, 1938 .. 76,537 Sundry debtors .. .. .. •• •• 9,821 Miscellaneous funds .. .. .. 15,051 Losses in Suspense .. .. •• •• 15 505,891 Cash balances— Sundry creditors •• •• 1,039 In hand .. .. •• • ■ Native Land Act, 1931, section 521 — At bank .. .. .. •• , Advances under .. .. .. 60,000 At branches .. .. .. •• 14,914 Less repayments ...... 32,311 > 27,689 Interest accrued on loans .. .. • • • • 411 Writings-off in Suspense .. . • • • • • 15 Reserve against unpaid interest .. • . 1, 269 Special reserve against claims .. . ■ 159 Assurance and Reserve Fund Account . . 107,738 Investment Fluctuation Account .. .. 1,195 Profit and Loss Appropriation Account .. 15,258 125,619 £660,664 £660,664 0. N. Campbell, Under-Secretary and Native Trustee. M. J. Lawless, A.R.A.N.Z., Accountant. I hereby certify that, the Balance-sheet and accompanying accounts have been duly examined and compared with the relative books, documents, and securities submitted for audit, and correctly state the position as disclosed thereby. The following comment is appended : The advances made to the East Coast Maori Soldiers' Fund by the Native Trustee exceed the value of the realizable assets of the fund. —J. P. Rutherford, Deputy Controller and Auditor-General.

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