B.—l [Pt. IV]

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

10

1943-44. 1942-43. 1943-44. 1942-43. Liabilities £ £ £ Assets £ £ £ Depreciation Reserve .. .. .. .. 991,178 942,121 Hydro-electric plants — Loan Redemption Fund — Lake Coleridge .. .. .. .. 858,084 858,083 Utilized for redemption of loans .. .. 756,115 714,409 Lake Waitaki .. .. .. .. 1,976,661 1,976,357 Available for further redemptions .. 254,866 41,706 Kaimata .. .. .. .. 145,455 145,455 1,010,981 — Monowai .. .. .. .. 208,070 207,374 756,115 — — 3,188,270 3,187,269 Fuel-plants — — —— — Reserve Fund .. . . .. .. .. .. 86,766 Dobson .. .. .. .. .. 136,547 136,692 Transmission-lines system .. .. .. .. 1,088,516 1,014,967 Substations .. .. .. .. .. 935,913 849,572 Sundry creditors .. .. .. .. .. 57,309 99,190 Communication system .. .. .. . . 81,116 79,035 Distribution system .. .. .. .. 902,792 893,647 Offices, stores, land, buildings, &c .. .. .. 22,054 21,983 Sundry credit balances .. .. .. .. 2,783 2,025 Cost of raising loans .. .. .. .. 540,309 540,495 Head Office Account .. .. .. .. 6,343,987 6,281,332 Interest during construction — On assets in operation .. .. .. 493,130 487,766 On assets not in operation .. .. 35,196 25,749 528,326 — 513,515 Works under construction .. .. .. .. 505,588 460,767 7,929,431 7,697,942 Plant, motor-vehicles, and tools .. .. .. 107,653 105,891 Stocks of materials .. .. .. .. 193,241 189,619 Sundry debtors .. .. .. .. .. 175,913 174,006 Sinking Fund investments .. .. .. .. .. !)1 £8,406,238 £8,167,549 £8,406,238 £8,167,549 Contingent Liability ============== ===6=== ==== Arrears of appropriation to Loan Redemption £52,907 £199,902 Fund