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1947 wooi— Sheep soid .. .. .. .. 3,478 15 3 Sold .. .. .. 2,765 11 3 Cattle sold .. .. .. .. 1,461 6 11 Unrealized .. .. 88 0 0 Horses sold .. .. .. .. 35 0 0 2,853 11 3 Skins and hides sold .. .. .. 60 15 10 Sheep sold .. .. .. .. 3,436 19 9 Interest .. .. .. .. 424 12 10 Cattle sold .. .. .. .. 1,729 10 9 Half-share Ngapakira profit .. .. 376 3 8 Skins and hides sold .. .. .. 43 12 8 Live-stock at 30th June, 1947— Meat sold .. .. .. .. 5 0 0 6,868 sheep .. .. 4,654 0 0 Live-stock at 30th June, 1947— 1,081 cattle .. .. 3,831 0 0 5,295 sheep .. .. 3,809 10 0 57 horses .. .. 315 0 0 692 cattle .. .. 2,548 10 0 8,800 0 0 27 horses .. .. 330 0 0 19,302 9 11 6,688 0 0 r 15,071 16 2 50,713 12 0 Debits 22,431 11 3 Live-stock at 30th June, 1946— £ s. d. Debits 7,137 sheep .. .. 5,124 15 0 Live-stock at 30th June, 1946— £ s. d. 1,263 cattle .. .. 4,234 10 0 4,948 sheep .. .. 3,542 17 0 55 horses .. .. 360 0 0 759 cattle .. .. 2,699 10 0 9,719 5 0 31 horses .. .. 380 0 0 Sheep bought .. .. .. 189 0 0 6,622 7 0 Cattle bought .. .. .. .. 157 10 0 Sheep bought .. .. .. .. 1,188 16 0 Wages .. .. .. .. 2,915 12 9 Cattle bought .. .. .. .. 89 5 0 Repairs, maintenance, and running-expenses 2,489 11 4 Wages .. .. .. .. 2,443 11 3 Rates .. .. .. .. 570 15 4 Repairs, maintenance, and running-expenses 1,219 17 10 ■ Management and office expenses .. .. 362 13 7 Rates ........ 516 9 5 Interest ........ 70 16 5 £ s. d. 16,404 8 0 Management and office expenses .. .. 253 3 5 Plant bought .. .. 270 13 11 Plant on hand at 30th June, . 12,404 6 4 1946 .. .. .. 1,14718 4 Plant and furniture on hand at 30th June, 1946 1,247 6 0 1,418 12 3 13,651 12 4 - 17,823 0 3 Balance at credit at 30th June, 1947 ~ .. .. £8,779 18 11 Balance at credit at 30th June, 1947 .. .. .. £32,890 11 9

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