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to the flooding which took place just as lambing had commenced and necessitated the shifting for grazing of 600 ewes The wool clip averaged just over 8| lb. per fleece and sold at approximately 14d. Willows are being cleared along the Marakoko River in preparation for the use of the drag-line to •deepen the Marakoko drain, and when this work is completed it should be of material assistance in keeping the water-level in the internal drains at the lowest possible level, which is very necessary for the successful running of the scheme. PART 11. MAORI LAND BOARD UNDERTAKINGS The Maori Land Boards, which were first constituted under the Maori Land Settlement Act, 1905, are empowered by statute to make advances from their Common Funds for the purpose of assisting Maori farmers to ■develop and improve their lands. The Board of Native Affairs, as in the case -of the Native Trustee, is empowered to exercise a substantial measure of control •over the investment, on mortgage or otherwise, of moneys in the account of k Maori Land Board. A Board may also, out of funds at its disposal, purchase and farm lands, or may advance money for the farming, improvement, or •settlement of any Native freehold land, or may guarantee the accounts of Maori dairy-farmers with any co-operative dairy company. In addition to advancing money on mortgage to Natives, a Maori Land Board may, with the consent of the beneficial owners, carry on any agricultural or pastoral business, or any other business or occupation connected with land and the produce thereof, on behalf of and for the benefit of the owners or such Maoris as may be interested in the businesses carried on. The supervision of the Board of Native Affairs is exercized by requiring annual budgets for the ensuing year to be submitted for approval, together with full trading accounts for the past year. The direct management of the farming operations is left to the discretion of the Maori Land Boards, who are empowered to co-opt the services of field officers of the Department for supervisory purposes. Four sheep-stations are now being carried on under this scheme of financing. The following is an account of each: — Anaura Station Situated 011 the east coast about seven miles from Tolaga Bay and 'comprising 5,865 acres, this property was vested in the Tairawhiti District Maori Land Board in 1929 in trust for three hundred Maori beneficial owners -who, desiring to obtain possession and management of their lands, were unable to meet the compensation-moneys for the improvements effected by the European lessees. The area is chiefly hill country of a sandstone and clay formation, and although originally carrying light bush and manuka scrub, it is now cleared and in pasture with the exception of a small portion consisting •of hill-top. The annual meeting of the owners of this station was held at Mangatuna, the balance-sheet for last year showing that the liability to the Board and the bank had now been reduced to £12,602 and that there were no other debts •owing. The book value of live-stock appears in the balance-sheet at £10,257, and general improvements are valued at £29,840. A dividend of £1,394 was •distributed to the owners, and various donations were made to worthy welfare objectives during the year. The work on this farm was mostly maintenance; the only capital works were the erection of two houses to be occupied by shepherds. This station suffered from drought during last season, this being the worst drought ever

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