STATE ENTERPRISES.

Dominion, Volume 4, Issue 1227, 8 September 1911, Page 4

STATE ENTERPRISES.

RETURN OF PROFITS. Profits aggregating ,£228,059 were drown last year, from nino" State enterprises— the Advances to Settlers,' Advances to Workers, Slate Firo Insurance, the Goveminent shares in the Hank of New Zealand, tho Public Trust Office, the Lands for Settlement Department, the Cheviot Estate in Canterbury* the National Endowment Lands, and the State Oyster Fisheries. In 11)09-10 these nine* Eervicoa returned profits amounting to £189,980. The Minister for Finance tabled a return yestcdlay afternoon showing tho profila for the post fifteen years. During tho year 1898-9 a profit of .£12,321 was mado by the Advances to Settlers Department, and bv 1901-2 it had risen .to .£29,452. Tho profit of tho two ! following years was several thousands less, but in 1904-5 it increased to £'34,45-1, and after a slight falling off in the following year the profit rose to £01,018 in 1908-9. Two years ago there was a marked reduction to £41,583, but last year tho profit was £00,440, the second-largest during tho period. The Advances to Workers Department was inaugurated in 1907-8, and in tho following yeat a profit of £3095 was returned. In. 1909-lU the profit was only £1390, but last year tho Department showed a net gain of £OSG4. During tho six years that the Stale Firo lnsuranco Department has born established the annual profit' has varied considerably, falling to nil three years ago. Last year it was £8488, an increase on the previous year of over £5700. For eight years from the beginning of tho period in review no revenue was derived from ' the shares in the Bank of New Zealand by the Government. In 1901-5 the Government drew £7500, and this amount has rapidly increased, until last vear it was £31,557. There has ken a good deal of flnctua. (ion in the revenue from tho Publia Trust Office, which has, shown a profit exceeding £10,000 in seven financial year*, tho largest amount being £13,955 in 1904-5. La«t year the profit was £11,241, a reduction of £497 on tho previous year's return. , ■ _ The Lands for Settlement Department has been a profitable one, according to the return, which shows that in 1909-10 n net profit of £44,857 was recorded. Nearly as large a profit—£44,G7s—was mado'in 1903-4. Last year tho net return was £39,030. The profit from the Cheviot Estate, which has risen to as largo a sum as £G3GI in 1904-5, has .fallen away _ sinco (hen. The amount was only £4411 in the following vear, and after increasing to £5390 in 1909-10, it dropped to £3901 last year. Profits have been drawn from (ho National Endowment Lands in the following amounls'.-lOOS-O, £67,142; 1909-10, £.V>,SGI: 1910-11, £00,149. The State Ovster Fisheries returned a net; profit of £1233 three years ago. In 1909-10, the profit was £570, and last year there was no profit.