B—l [Pt. IV]

SOUTH ISLAND HYDRO-ELECTRIC-POWER SUPPLY— continued Balance-sheet at 31st March, 1945, compared with Position at 31st March, 1944

18

— 31/3/45. 31/3/44. 31/3/45. 31/3/44. Liabilities £ £ £ Assets £ £ £ Depreciation Reserve.. .. .. 1,175,970 991,178 Hydro-electric plants— Cobb River .. .. 618,598 I Loan Redemption Fund— Lake Coleridge .. .. 860,016 858,084 Utilized for redemption of loans 1,010,981 756,115 Lake Waitaki .. .. 1,978,718 1,976,661 Available for further redemptions 2,213 254,866 Kaimata .. .. .. 145,642 145,455 1,013,194 Monowai.. .. .. 208,301 208,070 1,010,981 .. .. .. 3,811,275 3,188,270 Fuel-plants — Reserve Fund .. .. .. .. .. Stoke .. .. ... 18,929 Dobson .. .. j. 136,480 136,547 155,409 Sundry creditors .. .. .. 154,670 57,309 Transmission-lines system .. .. 1,252,702 1,088,516 Substations .. .. .. 1,148,265 935,913 Communication system .. .. 82,462 81,116 Sundry credit balances .. .. 2,609 2,783 Distribution system .. .. .. 940,729 902,792 Head Office Account .. .. .. 7,685,945 7,198,593 Offices, stores, land, buildings, &c. .. 24,635 22,054 , Cost of raising loans .. .. .. 546, 379 540, 309 Interest during construction — On assets in operation .. 578,082 493,130 On assets not in operation .. 57,804 35,196 635,886 528,326 Works under construction . . .. 820,871 1,360,194 9,418,613 8,784,037 Plant, motor-vehicles, and tools .. 131,330 107,653 Stocks of materials .. .. .. 282,715 193,241 Sundry debtors .. .. .. 199,730 1 75,913 10,032,388 9,260,844 10,032,388 9,260,844 Contingent Liability £ £ Arrears of appropriation to Loan 175,125 52,907 Redemption Fund