B.—l [Pt. IV]

NORTH ISLAND HYDRO-ELECTRIC-POWER SUPPLY —continued Balance-sheet at 31st March, 1944, compared with position at 31st March, 1943

7

1943-44. 1942-43. 1943-44. 1942-43. Liabilities £ £ £ Assets £ i £ £ Depreciation Reserve .. .. .. .. 1,761,024 1,468,567 Hydro-electric plants — Arapuni .. .. .. .. 2,758,503 2,732,390 Loan Redemption Fund — Horahora .. .. .. .. 327,110 327,215 Utilized for redemption of loans .. 1,684,652 1,486,902 Mangahao .. .. .. .. 1,373,611 1, 366,245 Available for/urther redemptions .. 208,068 197,750 Waikaremoana (Tuai) .. .. 835,687 788,879 — ——- — — 1,892,720 Waikaremoana (Piripaua) .. .. 977,509 918,364 1,684,652 6,272,420 6,133,093 Reserve Fund .. .. .. .. 98,532 301,015 Fuel-plants — Sundry creditors .. .. .. .. 192,645 166,390 Penrose .. .. .. .. 66,522 65,431 Sundry credit balances .. .. .. 449 339 Huntly .. .. .. .. 11,264 11,264 Head Office Account .. .. .. .. 11,818,882 10,944,511 King's Wharf .. .. .. 396,061 406,589 473,847 — 483,284 Transmission-lines system .. .. .. 2,406,249 2,384,637 Substations .. .. .. .. .. 2,026,591 1,819,410 Communication system.. .. .. .. 213,210 202,526 Distribution system .. .. .. .. 69,903 58,268 Offices, stores, land, buildings, &c. .. .. 80,833 74,597 Cost of raising loans .. .. .. .. 333,024 333,096 Interest during construction — On assets in operation .. .. 1,143,166 1,117,208 On assets not in operation .. .. 50,373 26,871 — 1,193,539 — 1,144,079 Works under construction .. .. .. 1,789,566 1,069,378 14,859,182 13,702,368 Plant, motor-vehicles, and tools .. .. .. 79,605 67,614 Stocks of materials .. .. .. .. 400,760 374,147 Sundry debtors .. .. .. .. 424,705 421,247 Sinking Fund investments .. .. .. .. 98 £15,764,252 £14,565,474 £15,764,252 £14,565,474