STATE COAL-MINES (REPORTS ON THE WORKING OF) FOR THE YEAR ENDED 31st MARCH, 1918.

Appendix to the Journals of the House of Representatives, 1918 Session I-II, C-02a

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Session 11. 1918. NEW ZEALAND.

STATE COAL-MINES (REPORTS ON THE WORKING OF) FOR THE YEAR ENDED 31st MARCH, 1918.

Prepared in accordance with the Requirements of Section 118 of the Coal-mines Act, 190H.

MINE-MANAGER'S REPORT. The Manager, State Coal-mines, Greymouth, to the Under-Secretary, Mines Department, Wellington. Sir, — Point Elizabeth State Coal-mines, Greymouth, 11th April, 1918. 1 have the honour to submit my annual report on the State collieries for the year ended 31st March, 1918. Point Elizabeth Colliery. Coal-winning. The gross total output for the year was 118,076 tons lOcwt., a decrease of nearly 15,000 tons when compared with the figures for the previous year; and after deducting mine consumption and waste, and allowing for the stock in hand at the beginning of the year, there remained for disposal 111,551 tons Bcwt., which was disposed of as follows : — Export— Tons ewt. Screened coal ... ... ... ... ... 41,552 14 Unscreened coal ... ... ... ... ... 21,447 18 Bunker coal ... ... ... ... ... ... 13,616 2 Small coal ... ... ... ... 24,896 14 Total ... ... ... ... ... 101,513 8 Local sales — Screened coal ... ... ... ... ... 4,807 4 Unscreened coal ... ... ... ... ... 1,262 0 Bunker coal ... ... ... ... ... ... 12 12 Small coal ... ... ... ... ... ... 1,397 14 Total ... ... ... ... ... 7,479 10 Mine sales (unscreened) ... ... ... ... ... 119 18 Sold to employees (unscreened) ... ... ... ... 2,558 17 Used on works (small) ... ... ... ... ... 5,678 0 Waste ... ... ... ... ... ... ... 847 2 The gross total output won from this colliery since its inception amounts to 2,331,532 tons. The colliery worked on 220 days, and the average daily output was 536 tons 14 cwt. The possible number of working-days for the year (exclusive of union holidays and pay Saturdays, which number 45) was 268, and the difference between the time worked and the possible workingtime is accounted for as follow: Conscription strike, 14 days; railway ticket strike, 2 days; sharing of work strike, 2 days; levy strike, 16 days; quarterly cavil, \\ days; search for highway robber, 2£ days; want of shipping, 8 days; bar unworkable, 2 days: total, 48 days. The loss of

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48 days' work, basing the average output at 536 lons Hewt.. represents a loss in output from this colliery for the year of 25,761 tons. Employees, The average number of men and boys employed in and about the mine were as follow : Under-ground—Coal-hewers, 68; deputies, shiftmen, and truckers, 62; boys, 3. On the surface there were employed 40 men and 16 boys, making a total of 170 men and 19 boys. The total payments made on wages account, exclusive of stores, mine-timber, and compensation, amounted to £35,239 18s. sd. The ooal-hewers' average daily earnings (gross) was 2:55. lO'.'Sd., and the net average return tp each man was 235. 2'02d., a net increase of 3s. 5'74d. over the previous year. Underground- development , The whole of the output for the year was obtained from coal won from pillar-extraction from both sections (Nos. I and 2) of this colliery, the latter producing approximately two-thirds of the output. In the No. 1 section work is now confined to bringing back dip pillars, of which very few remain to be won. At the present time eight pairs of miners are employed on (lie day shift, and four pairs on the afternoon shift, but owing to the limited area it will lie difficult to employ this number of miners much longer. In the course of the next few months this section will be completely exhausted, and in order to maintain a reasonable -output from this colliery it may be necessary to work the No. 2 section on two shifts, where at the present time twenty-one pairs of miners are employed, eighteen on the day shift and three on the afternoon shift. The probable life of this section under the present system .may be safely estimated at eighteen months, but if the double shift is adopted after the closing-down of the No. 1 section the output would be so small that the question of closing down this colliery altogether Would no doubt be considered within the next twelve months. During the early part of the year pumping operations were carried on in both sections. In the No. I section, where the Rees Roturbo electrically driven pump was installed, pumping was carried out on one shift only, but in the No. 2 section, where an air-driven pump was installed three shifts were employed. Since last September, however, there has been no pumping in the No. I section, as the water in the mine arrived at the same surface level as a borehole near Coal Creek; this borehole now acts as an outlet for the water from the dip workings of this mine. Immediately the electrically driven pump was dispensed with in the No. I section it was installed in the No. i section, replacing the air -driven pump, thus enabling pumping operations to be rallied out on one shift. Bxplo ra I or;/ Work. Work done under this head was confined lo putting down one borehole with the diamond drilling plant at Rocky Creek, The object of drilling in this locality was to ascertain whether the present seams now worked at the Point Elizabeth Colliery extend in that direction. In (his hole several small seams varying from,.'! in. to 6 in. were passed through, and at a depth of 625 ft. the hole was abandoned, the drilling plant being inadequate to drill any deeper, Stir fa ci- Works. The whole of (he surface plan!, machinery, and buildings were maintained in good order and condition throughout the year. Liverpool Colliery. Goal-winning. The gross total output for the year was 128,106 tons II cwt., a decrease of 4,817 tons when compared with the figures of the previous year; and after deducting for mine consumption and waste, and allowing for stock in hand at the beginning of the year, there remained for disposal 124,782 tons, which was disposed of and accounted for as follows : — Kxport— Tlms ewL Screened coal ... ... ... ... .... 32,159 17 Unscreened coal ... ... ... ... ... 29,419 19 Bunker coal ... ... ... ... ... ~, 7,316 16 Small coal ... ... ... ... ... ... 42,884 18 Total ... ... ... 111,781 10 Local sales — Screened coal ... ... ... ... ... 567 .6 Unscreened coal ... ... ... ... 6,765 4 Bunker coal ... ... ... ... ..." 253 14 Small coal ... ... ... ... ... ... 5,179 17 Total ... ... ... ... ]2,766 1 Mine sales (unscreened) ... ... ... ... ... 614 Sold to workmen (unscreened) ... ... ... ... 139 Q Used on works ... ... ... ... ... . 2,875 0 ■■• ... ... ... ... ... '739 11 Loss due to averaging weights through no weighbridge ... 250 0

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The gross total output nun from this colliery since its inception amounts to 485,638 tons 5 cwl. The colliery worked during the year cm 19.7J days, and the average daily output was 649 tons 2 cwt. Comparing the days worked witli the possible time which could have been worked (not including union holidays and pay Saturdays) shows a. loss of 7'2l working-days, which are accounted as follow: Conscription strike. II days; railway ticket strike, 2 days; destruction of bins, 23 days; levy strike, 16 days: search for highway robber, 1 day; slips on railway, 4i days; cavil (quarterly), 1 day; want of shipping, '.t days; bar unworkable, 2 days: total, 72| days. The loss*of 721 days, with an average daily output of 649 tons, represents a loss in output for the year from this colliery of 47,053 tons. Employees. The average number of men and boys employed in and about the mine in connection with coalwinning was 255 men and 19 boys, made up as follow : Underground—Coal-hewers, 113; deputies, shiftmen and truckers. 96. On the surface. 46 men and 19 boys. In addition to those employed in connection with coal-winning, there were 26 men and 2 boys employed on property and development work, making a total of 281 men and 21 boys. The total payments made on wages account in connection with coal-winning, exclusive of stores, mine-timber, and compensation, amounted to .£48,887 16s. 4d. The coal-hewers' average daily earning (gross) for the year was 21s. 9'78d., and the net return to each man was 19s. 9'5-ld.. a net increase of 2s. 4'BBd. over last year. Underground Development. During the year the output was obtained from the same mines as last year—namely, Nos. 1-3, and. 3a—the former producing the largest output, and with the exception of an average of four pairs of miners engaged in pillar-extraction tin- output from this mine was obtained from solid workings. Owing (o the limited area development-work in this mine is confined to the workings advancing in a northerly direction, (he width of the block now worked being not more than II chains, and from surface examinations of the locality, and the course of the pinching-oul line from east to west, there is every indication that (he workings advancing now in a northerly direction will in another 12 chains be reduced in width to such an extent that it would be unprofitable to continue them fail her. Development-work in (he Morgan scam has been confined to the driving of winning levels in an easterly and westerly direction.. The seam in the east level maintains an average thickness of 20 ft., whereas the seam in the west level will not average more than 7 ft, in driving (he main level west an upthrow fault (Sweeney's) of 14 ft. was encountered. After crossing over the fault the seam pinched to 6 It., but as the level advanced the seam gradually increased in thickness, and for the last chain driven averaged a thickness of 10 ft. It is pleasing to reporl that as (Ik; workings advance from the vicinity of the fault the quality of the coal, so far as hardness is concerned, is much improved. During the early part of (lie year work was carried out on day wages. A working agreement was. however, arrived at in June last, and since then the day-wages system was abolished. From the No. 3 mine the output was obtained from solid and pillar workings, sixteen pairs of miners being employed in, the solid workings and eight pairs in pillar-extraction. The area comprising solid workings in this mine is now getting very limited, being confined to workings shown on the accompanying tracing advancing towards the downthrow fault (marked " Duggan's fault"), which is a branch from the main downthrow fault, marked on the tracing as " Denston's fault." The branch fault was crossed over during the year in the main heading, also in the companion heading, but the headings were only driven a few yards in the seam when (he Denston's fault, was struck, thus leaving only a narrow strip of coal between them. One good feature, however, is that the faults do not run parallel, and as the workings advance in an easterly course the distance between the faults gradually increases. In the No. 3a mine driving in (he solid is now completed, and the coal won therefrom in future will be obtained from pillar-extraction. The area of this mine is very small, and never has there been more than six pairs of miners employed therein at one time. Reviewing the report on the underground workings of this colliery it will he seen that, with the exception of the Morgan seam, of which a moderate area has been proved, the mines from which the output is being maintained at the present time will be exhausted in a few years. Destruction due to Landslips, Early on New Year's morning a landslip containing approximately 5,000 cubic yards of debris occurred on the north side of I he storage-bin, completely destroying the fan engine-house, blacksmith shop, deputies' office, electric-lamp room, ami the coal-storage bin. The first four named buildings, which were in the line of the slip, were carried down and, together with the weight of the debris, struck the storage-bin, finally pushing this large structure down to the ground, and destroying it to such an extent that the whole building will have to be taken to pieces before the work of rebuilding can be commenced. In order to get the mine working again as early as possible (lie work of removing the slip was carried out on three shifts, and during this time a temporary storage-bin was also in the course of erection. Within live weeks of the slip occurring work was resumed again at the mines,

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and although the present arrangement is only a temporary one and capable of dealing only with unscreened coal, it is pleasing to report that the output can be effectively dealt with. Since work was resumed in the mines the work of dismantling the damaged bin was pushed on with all speed until the 9th March, when this work was stopped owing to the strike. To complete dismantling the bin and rebuilding the same will take at least eight months. The damage done through the landslip may be safely estimated at £7.000. In September last a landslip occurred partially destroying the No. 3a mine viaduct and rendering that mine idle for three days. In October also a slip occurred, completely destroyingthree workmen's huts. Charming Cheek Coalfield. As outlined in my previous report, before anything could be definitely done regarding this coalfield it was necessary to have surveys made in order to arrive at an estimate of the cost of the undertaking. During the year two routes were surveyed—one from near Nikau Station to the lowest point of the Charming Creek Coalfield, and the other from Seddonville to the same point. After the completion of the surveys, and in company with Mr. Learmont, the surveyor, the routes were inspected by Messrs. Blow. Reed. Newton, and myself, and a conference held later at the Inspector of Mines office, Westport, where the cost of developing this coalfield by the two routes was thoroughly discussed. The result of the conference was not made known to the public, but it would not be out of place to state that the development of this coalfield by either route would be a costly undertaking. Building, Lighting, and Track-constkuotion, etc. During the year a track was constructed from the Corge Tunnel to Upper Rewanui, a distance of 68 chains, which now enables most of the residents to get to and from the railway-station without travelling along the haulage road. Electric lights were installed in most of the cottages and huts at Upper Rewanui, for which the Department charges at the rate of 6d. per light per week. Several large electric lamps were also erected in various parts of Upper Rewanui Township. Twenty-five workmen's huts were built during the year, also a large stable and feed-house, and a clipping-shed at the entrance to one of the mines. The building of a school for the Education Department was also commenced, but this work had to be suspended owing to the landslip near the storage-bins blocking the road for taking timber to the building. Arrangements arc being made to have this building completed as early as possible. General. Reviewing the work for the year it will be seen that strikes were responsible for the loss of no less than thirty-four days' work at the Point Elizabeth Colliery, and thirty-two at the Liverpool Colliery. This, together with a loss of twenty-three days due to the destruction of the bins at Rewanui, will account for the decreased output from each colliery as compared with the previous year. Although no serious accidents occurred in connection with the ordinary working of the mine, H is regrettable to report that two men lost their lives on the Ureymouth-Runanga Road whilst, in the execution of their duty bringing out the fortnight's wages from the bank to the mine. In conclusion, I have pleasure in reporting that the officers in the various branches have directed their best efforts in the interests of the industry, and I am also indebted to the Inspecting Engineer, who in the course of his duties rendered good service. I have, &c, I. A. James, Manager.

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SALES MANAGER'S REPORT. The Sales Manager, State Coal-mines, to the Undbk-Seoretaby, Mines Department, Wellington. Sir, — New Zealand State Coal-mines, Head Office, Wellington, 15th July, 1918. I have the honour to presenl the annual report and balance-sheet of the New Zealand State Coal-mines for the year ended 31st March, 1918. Financial. The net profit for the year, after making full provision for interest, depreciation, war bonus, bad ami doubtful debts, and all annual charges, and after writing off the book value of the bins ami screening plant destroyed by a landslip at Liverpool Colliery, and the expenditure in connection with exploration work at. Charming Creek, amounted to £21,1.66 I.Bs. Id., made up as follows:— ~ , t S. (I. Point Elizabeth Colliery (net profit) ... ... ... 23,572 0 3 Liverpool Colliery (net profit) ... ... ... ... 4,825 10 9 Seddonville Colliery (recovery) ... ... 192 11 0 28.590 2 0 Depots (loss) ... ... ... 917 3 9 27,672 18 3 Less — £ s. d. Written off Charming Creek ... 2.956 0 2 Bad debt reserve ... ... 250 0 0 3,206 0 2 £24,466 18 1 The net profit earned represents a return of 6'Bo per cent, on the gross capital expenditure to date, and is equal to 7'92 per cent, on the total turnover for the year, which amounted to £308,759 15s. 3d. In comparison with the figures for last year there has been an increase of 1'52 per cent, in the profit earned and (V4B per cent, in the turnover. Reviewing the financial results for the year it will be noted that Point Elizabeth Colliery has made a profit of £23,572 os. 3d., as against £18,016 15s. Id. for last year, an increase of £5,555 ss. 2d.; but, as explained in my last annual report, the cessation of expenditure on development-work, in view of the approaching exhaustion of the mine ami the fact that the assets of this colliery have been written down to such an extent that no further provision for depreciation has been necessary, is largely the explanation of tin- improvement shown in respect to this colliery (luring (he past two years. The present book value of Ihe valuable plant and machinery at this mine, together with the buildings and woikmens' cottages (as shown in the balance-sheet), is now only £1,387, which is a purely nominal value. The Liverpool Colliery returned a net profit of £4,825 10s. 9d., as against £254 I()s. 3d. for last year. The improvement in the net profit earned by this colliery has therefore been sub stantial, and but for the writing-off of the book value of the bins and screening plant destroyed by a landslip in January last would have amounted to close on £12,000. It was considered advisable to make provision for (lip total writing-off of the book value of this asset in (his year's accounts instead of writing off a proportion each year until liquidated, and the sum of £7,064 was accordingly earmarked for this purpose. In respect to the depots, the result in the aggregate has been a loss of £917. Christchurch and Wanganui show a profit on the year's operations, while Wellington and Dunedin show a loss. In my last annual report, under this head attention was drawn to the necessity, owing to increased operating expenses and restricted turnover, for increasing the retail prices of coal with a view of enabling each depot to show a, reasonable margin of profit over working-expenses and to provide for contingencies. Nothing, however, was done in this connection, as it was considered inadvisable to increase the price of coal to householders during the ourrency of the war; and, as sea freights from the West Coast to all ports were advanced 2s. 6d. per ton without any corresponding increase being made in retail prices, a trading loss on the depots under these circumstances was inevitable, and will, moreover, continue until such time as a revision of selling-rates takes place. These remarks apply with special force to the Wellington Depot, which is more unfavourably situated than the other depots owing to exceptionally heavy overhead expenses and increased cost of delivery. During the year very great difficulty was experienced in providing supplies of coal

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for the different depots owing to urgent Government requirements absorbing (lie entire output of screened coal, thereby leaving available only a limited supply of unscreened coal each week for disposal through the depots for household and trade purposes. The quantity shipped was quite inadequate in view of the demands mack the depots by householders, and frequent stoppages owing to lack of supplies took place with consequent disorganization and loss of business. In this connection it must not be overlooked that while the depots have shown a loss owing to the impossibility of maintaining regular supplies, the collieries have benefited by the increased f.O.b. rates fixed for screened coal (a proportion of which was previously supplied to depots), and (hat although a loss has been made in distribution through the depots the public who have been drawing supplies therefrom have substantially benefited by the lower prices charged by the Slate Coal Department. During the year regular visils of inspection were paid lo the depots for the purpose of keeping in close touch with operations, and for promoting closer co-operation between Head Office ami branches. Output. The gross output of (he mines for the year was 246,273 tons, as compared with 265,782 tons tor last year, a decrease of 19.50!) tons. A comparative statement for the two years is shown below :—

(Note. —The difference between the gross and net outputs is the allowance made for mineconsumption and waste.) Point Elizabeth Colliery produced 111.552 tons of marketable coal, a decrease of 13,178 tons on the production last year. After allowing for stocks on hand and afloat at the beginning and end of the year the disposal was as under : —

Liverpool Colliery produced 124,782 tons of marketable coal, a decrease of 2,998 tons on the previous year's production. The disposal, allowing for slock in hand at beginning of year, was as follows :—

The total sales for (he year amounted to 239,840 lons, value £267.927. as compared with 256,558 tons, value £248,817, for last year, a decrease in quantity of 16,718 tons, and an increase in value of .£19,110.

Mine. Output in Tons, 1916-17. Grose. Net. Output in Ton Gross. is, 1917-18. Net. Point Elizabeth Liverpool '.. 132.769 125.030 133,013 127,780 118.077 128,196 111.552 121,782 Totals 265,782 252,810 246,273 236,334

Supplied to ; Screened. Unscreened. I l Ton«. Tons. Depots ... ... ... 18,730 16,164 Railways ... ... ... 23,440 746 Shipping companies ... ... 49 3,999 Other Government Departments ... 250 1,381 Other consumers ... ... 4,294 3,886 I _ Totals ... ... 46,763 26,176 | Steam. Small. Tons. Tons. 12,087 5 13,217 12,870 18 2,069 13,235 27,031 To'als. Tons. 46,981 24,191 30,135 1,631 10,267 113,205

Supplied to Screened. Unscreened. Steam. Small. ' Totals. Tons. Depots ... ... ... 15,499 Railways ... ... ... 17,178 Shipping companies ... ... 21 Gas companies ... ... ■ 9 Other Government Departments ... 34 Other consumers ... ... 943 Tons. 2,120 6,704 4,172 21,689 231 2,120 Tons. 6,466 Tons. 7,857 69 9,188 32,209 Tons. 25,476 23,951 19,847 53,907 265 3,189 126 Totals ... ... 33,684 37,036 6,466 49,449 126,635

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For the purpose of easy comparison the figures arc restated below in tabulated form : —

Comparative Statement of Sales.

The average price per ton realized on the total sales for the year was £1 2s. 4'10d., an increase of 2s. 1 I'34d. on last year's average. The 1 sales of coal through the medium of the depots totalled 74,380 tons, value £118,554, as against 103,269 tons, value £141,606, for last year. It will be noted that a. very large increase has taken place in the quantity of Liverpool coal supplied to gasworks as compared with last year, and the demand in this direction exceeds the available supply. The value of this coal for gas-producing purposes is now firmly established, and the various gas companies throughout the Dominion speak in terms of high praise of its qualities. In connection with the transport of coal, the arrangements made by our contractors for the sea carriage of State coal were generally of a very satisfactory nature notwithstanding the abnormal conditions prevailing in shipping circles, and it is pleasing to record that only nine days were lost by the collieries through.want of shipping during the year under review. The report of the Manager of the collieries gives full information in respect to the working of each mine and other interesting details relative thereto. The following items taken from the balance-sheet are of interest as indicating the more important items of expenditure, and for reference in respect to the present position of the Capital Account, reserve funds, and other accounts shown therein : — £ The total amount paid as war bonus was ... ... ... ... 13,377 The amount written off for depreciation for the year was .-. ... 17,647 The payments for interest totalled ... ... ... ... 8,715 The payments for sea carriage of coal amounted to ... ... 77,576 The cost of railway haulage amounted to ... ... ... 25,428 The total wages paid for coal-winning was ... ... 82,017 The amount paid for management and office salaries (Head Office and mines) totalled ... ... ... ... ... ... 2,770 The gross capital expenditure on the whole undertakings to 31st March last was ... ... ... ... ... ... ... 359,730 The total depreciation written off to date amounts to ... ... 208,400 (equal to 57'93 per cent, on the gross capital expenditure) The debenture and loan capital stands at ... ... ... 227,601 The sinking fund is in credit ... ... ... ... ... 13,200 The reserve fund stands at ... ... ... ... ... 5,884 The amount at credit of Profit and Loss Account is ... ... 8,043 (last year it was in debit .£16,424) The cash in hand and in Public Account at 31st March last was ... 102,823 (last year, ..£68,018) The present net book value of permanent or fixed assets (exclusive of floating assets) is ... ... ... ... ... 145,439 In conclusion, I have to acknowledge the services of the Accountant, Depot Managers, and staffs for services rendered in connection with the conduct of the business. I have, &c. F. J. Gunn, Sales Manager.

Total Sales 1916-17. Total Sales 1917-18. Mine. Quantity. Value. Quantity. Value. Point Elizabeth Liverpool Tons cwt. qr. 127.149 4 1 129,408 13 2 £ s. tl. 120,542 6 4 128,274 16 6 248,817 2 10 Tons cwt. qr. 113.205 6 2 126,635 4 0 239.840 10 2 £ s. d. 123,815 5 11 144,111 15 3 Totals 256.557 17 3 267.927 1 2

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. Balance-sheet of the New Zealand State Coal-mines. Statement of Liabilities and Assets at 31st March, 1918. Liabilities. Assets. £ s. d. £ B. d. £ s. d. £ s d. £ s. d. Debenture loan .. .. .. .. 175,000 0 0 Point Elizabeth Colliery and Development Property Account — Loan under Appropriation Act, 1912 .. .. 50,000 0 0 Expended during year .. .. .. .. 136 3 0 Inscribed stock .. .. .. .. 2,601 0 7 Depreciation .. .. .. .. .. 136 3 0 227,601 0 7 Machinery, plant, ropes, and rolling-stock— Debenture sinking fund .. .. .. 13,200 0 0 Cost at 31st March, 1917 .. .. .. .. 1,486 0 0 Reserve fund .. .. .. .. 5,884 11 2 Less sales.. .. .. .. .. .. 99 1 6 ■ 19,084 11 2 1,386 18 6 Stores (stock on hand) .. .. .. .. .. 5,644 8 3 Bad debts reserve .. .. .. .. 250 0 0 Coal (stock on hand at mine and wharf) .. .. .. 36 0 0 5,680 8 3 Accrued interest .. .. .. .. 4,357 4 6 7,067 6 9 Sundry creditors .. .. .. .. 9,112 2 8 Point Elizabeth (Liverpool) Colliery and Development Property 13,469 7 2 AccountGeneral Profit and Loss Account— Cost at 31st March, 1917 .. .. .. .. 90,819 2 4 Net profit for year .. .. .. 24,466 18 1 Additions during the year .. .. .. .. 2,195 4 2 Less Dr. balance, 31st March, 1917 .. 16,424 7 6 8,042 10 7 93,014 6 6 Depreciation .. .. .. .. .. 5,766 12 3 87,247 14 3 Machinery, plant, ropes, and rolling stock— Cost at 31st March, 1917 .. .. .. .. 45,346 11 0 Additions during the year .. .. .. .. 3,741 9 1 49,088 0 1 Depreciation .. .. .. .. .. 10,063 19 10 39,024 0 3 Buildings at mine— Cost at 31st March, 1917 .. .. .. .. 4,441 8 6 Additions during the year .. .. .. .. 107 10 3 4,548 18 9 Depreciation .. .. .. .. .. 334 2 3 ■ 4,214 16 6 Cottages at mine .. .. .. .. .. 3,655 11 3 Additions .. .. .. .. .. 840 7 3 4,495 18 6 Depreciation .. .. .. .. .. 316 19 2 4,178 19 4 Coal (stock on hand at mine and wharf) .. .. .. 610 8 9 Coal (stock on hand, afloat)' 610 8 9 135,275 19 1 Charming Creek Development— Cost at 31st March, 1917 .. .. .. .. .. .. .. 1,562 17 4 Expended during the year .. .. .. .. .. .. 1,393 2 10 2,956 0 2 Amount written off .. .. .. .. .. .. .. 2,956 0 2

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Balance-sheet of the New Zealand State Coal-mines— continued. Statement of Liabilities and Assets at 81st March, 1918 — continued. Liabilities —continued. • Assets — continued. £ s. d. Hulks Property Account— £ s. d: £ s. d. £ 9. d. Cost at 31st March, 1917 .. .. .. .. .. ... 477 12 3 Depreciation .. .. .. .. .. .. .. 119 3 6 358 8 9 Wellington Depot Property Account— Cost at 3ist March, 1917 .. .. .. .. .. 2,944 6 4 Additions during the year .. .. .. .. .. 28 0 0 2,972 6 4 Depreciation .. .. .. .. .. 294 0 0 2,678 6 4 Stocks on haDd .. .. .. .. .. .. 440 16 11 3,119 3 3 Christchurch Depot Property Account— Cost at 31st March, 1917.. .. .. .. .. 4,085 0 0 Additions during the year .. .. .. .". 239 15 10 4,324 15 10 Depreciation .. .. .. .. .. .. 382 15 0 3,942 0 10 Stocks on hand .. .. .. .. .. .. .. 664 4 2 4,606 5 0 Wanganui Depot Property Aocount— Cost at 31st March, 1917 .. .. .. .. .. 1,676 9 1 Additions during the year.. .. .. .. .. 336 12 6 2,013 1 7 Depreciation .. .. .. .. .. .. 147 8 7 1,865 13 0 Stooks on hand .. .. .. .. .. .. .. 325 12 8 2,191 5 8 Dunedin Depot Property Account— Cost at 31st March, 1917 .. .. .. .. .. 628 8 10 Depreciation .. .. .. .. .. .. 85 810 543 0 0 Stocks on hand .. .. .. .. .. .. .. 15 610 558 6 10 Sundry debtors .. .. .. .. .. .. .. 11,686 6 5 Suspense Account, premiums, deposits, &c. .. .. .. .. 261 2 6 Loan flotation (balance) .. .. .. .. .. .. 500 0 0 12,447 8 11 Cash in hand and in Public Aocount on 31st March, 1918 .. .. 113,217 17 9 Less vouchers outstanding .. .. .. .. .. 10,394 12 6 — 102,823 5 3 £268,447 9 6 £268,447 9 6 State Coal-mines Office, Wellington, Bth June, 1918. Louis H. Bileks, F.R.A.,N.Z., Accountant. W. D. S. MacDonald, Minister of Mines. Examined and found correct.— Bobert J. Collins, Controller and Auditor-General.

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Statement of General Profit and Loss Account for the Year ended 31st March, 1918. Dr. £ s. d. £ s. d. Gr. £ s. d. £ s. d. To Point Elizabeth Colliery Trade Expenses Account .. 55,404 13 2 By Point Elizabeth Colliery Working Aocount— Gross profit .. 78.89113 0 Liverpool Colliery „ . •■ 87,765 19 0 Liverpool Colliery „ 92,31117 0 Wellington Depot . . •• 13,103 10 10 Wellington Depot Trading Account— Gross profit .. 11,410 8 4 Christchurch Depot , . •■ 7,698 6 4 Christchurch Depot „ .. 8,49119 7 Wanganui Depot .., .. 3,298 10 4 Wanganm Depot . . 3,658 17 5 Dunedin Deoot . . .. 2,460 17 2 Dunedin Depot . , 2,082 15 7 169,731 16 10 196.847 10 11 Bad Debts Reserves Aooount .. .. •• •■ 250 0 0 Seddonville Colliery recovery .. .. .. .. 192 11 0 Charming Creek Account (written off) .. .. .. 2,956 0 2 Point Elizabeth Colliery rents .. .. .. .. 85 0 5 3,206 0 2 Liverpool Colliery rents, &c. .. .. .. .. 279 12 9 Balance: Profit for year .. .. .. •■ .. 24,466 18 1 557 4 2 £197,404 15 1 £197,404 15 1 Balance down .. .. .. .. .. .. 24,466 18 1 Less Dr. balance, 31st March, 1917 .. .. .. 16,424 7 6 8,042 10 7 Balanoe .. .. .. .. .- .- .. £8,042 10 7 £8,042 10 7 Statement of Point Elizabeth Colliery Working Account for the Year ended 31st March, 1918. Dr. £ s. d. £ s. d. Gr. £ s. d. £ r. d. To Stock of coal on hand at 31st March, 1917 .. .. .. 1.124 16 sBy Sales of coal .. .. .. .. .. 123,815 511 Coal-winning— Sales of timber .. .. .. .. .. 102 13 5 Wages .. .. .. .. .. .. 37,411 710 Sales of stores .. .. .. .. .. 2,901 8 1 Materials used .. .. .. .. .. 2,896 18 6 126,819 7 5 Stores used.. .. .. .. .. .. 1,676 12 11 Stock of coal on hand at 31st March, 1918— 41,984 19 3 At mine and wharf .. .. .. .. .. 36 0 0 Timber out .. .. .. .. .. .. 73 14 7 Stores sold .. .. .. .. .. 2.815 11 8 2,889 6 3 Special rate .. .. .. .. .. .. 906 0 6 Royalty .. .. .. .. .. .. 1,058 12 0 — 1,964 12 6 Balance: Gross profit at mine .. .. .. .. 78,891 13 0 £126,855 7 5 £126,855 7 5

C—2a

Statement of Point Elizabeth Colliery Profit and Loss Account for the Year ended 31st March, 1918. Dr. £ s. d. £ s. d. Gr. To Management and office salaries .. .. .. .. 1,318 16 8 By Balance of Working Aooount— £ s. d. £ s. d Interest and exchange .. .. .. .. .. 2,886 11 4 Gross profits at mine .. .. .. .. 78,891 13 o' Travelling-expenses .. .. .. .. .. 104 15 0 Rents .. .. .. .. 85 0 5 Printing and stationery .. .. .. .. .. 72 16 87g gyg 13 5 Repairs and maintenance .. .. .. .. 636 11 3 Telegrams and postages .. .. .. .. .. 71 8 9 Railway haulage .. .. .. .. .. 11,414 17 4 Insurances .. .. .. .. .. .. 155 12 6 Compensation for accidents and fund .. .. .. 922 15 11 Cargo adjustments .. .. .. .. .. 529 General expenses .. .. .. .. .. 68 1 4 Marine freights .. .. .. .. .. 35,565 10 0 Hulks Working Account (proportion) .. .. .. 953 19 6 Terminal charges .. .. .. .. .. 286 15 8 Audit fees .. ~ .. .. .. .. 616 6 Explosives destroyed .. .. .. .. .. 709 7 1 Head Office alterations .. .. .. .. .. 88 11 11 Depreciation .. . .. .. .. .. 136 3 0 55,404 13 2 Balance: Profit .. .. .. .. .. .. 23,572 0 3 £78,976 13 5 £78,976 13 5 Statement of Point Elizabeth (Liverpool) Colliery Working Account for the Year ended 31st March, 1918. Lr. £ s. d. £ s. d. O. £ s. d. £ a. d. To Stocks on hand .. .. .. .. .. .. 1,781 1 5 By Sales of coal .. .. .. .. .. 144,11115 3 Coal-winning— Sales of stores .. .. .. .. .. 220 2 4 Wages .. .. .. .. .. 44,605 15 8 144,331 17 7 Materials used .. .. .. .. .. 2,658 19 8 Stock of coal on hand at 31st March, 1918, at mine and Stores used .. .. .. .. .. .. 2,190 4 0 wharf .. .. .. .. .. .. ... .. GlO 8 9 49,454 19 4 Stores sold .. .. .. .. .. .. .. 220 2 4 Special rate .. .. ..' .. .. .. .. 1,174 6 3 Balance: Gross profit .. .. .. .. .. .. 92,31117 0 £144,942 6 4 £144,942 6~4

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a—2a.

Statement of Point Elizabeth (Liverpool) Colliery Profit and Loss Account for the Year ended 31st March, 1918. Dr. £ s. d. £ s. d. Gr. ■ £ s. d. £ s. d. To Management and office salaries .. .. .. .. 1,450 15 3By Gross profits at mine .. .. .. .. .. 92,311 17 0 Interest and exchange .. .. .. .. .. 5,236 9 9 Rents, &c. .. .. .. .. .. .. 279 12 9 Travelling-expenses .. .. .. ... .. 121 12 0 — 92,591 9 9 Printing and stationery .. .. .. .. .. 89 6 1 Repairs and maintenance .. .. .. .. 2,279 3 4 Telegrams and postages .. .. .. .. .. 79 7 3 Railway haulage .. .. .. .. .. 14,013 11 7 Insurances .. .. .. .. .. .. 145 7 7 Compensation for accidents and fund .. .. .. 560 19 9 Cargo adjustments .. .. .. .. .. 048 General expenses .. .. .. .. .. 42 17 9 Marine freights .. .. .. .. 42,010 3 3 Hulks Working Account (proportion) .. . .. 148 6 9 Terminal charges .. .. .. .. .. 3,783 9 7 Audit fees .. .. .. .. .. .. 8 6 10 Head Office alterations .. .. .. .. .. 104 17 1 Explosives destroyed .. .. .. .. .. 709 7 0 Loan-flotation charges .. .. .. .. .. 500 0 0 Depreciation: Mine, buildings, plant, and machinery (includ- 16,481 13 6 ing destruction of bins, &c, £7,064) 87,765 19 0 Balance: Net profit .. .. .. .. 4,825 10 9 £92,591 9 9 £92,591 9 • 9 Wellington Depot Trading Account for the Year ended 31st March 1918. Dr. £ s. d. £ s. i. Cr. £ s. d. £ s. d To Stocks on band at 31st Maroh, 1917 .. .. .. .. 213 4 1 By Sales of ooal .. .. .. .. .. 49,280 0 10 Purchases of coal .. .. .. .. .. 36,379 14 0 Sales of firewood, coke, &o. .. .. .. .. 1,718 19 11 Purohases of firewood, coke, &c. .. .. .. 1,349 11 9 — 50,999 0 9 37,729 5 9 Stocks on hand at 31st March 1918— Cartage to depot .. .. .. .. .. 1,080 0 4 Coal .. .. .. .. .. 700 Wharfage .. .. .. .. .. .. 1,006 19 2 Firewood, &c. .. .. .. .. .. 433 16 11 2,086 19 6 ■ 440 16 11 Balance: Gross profit .. .. .. .. .. .. 11,410 8 4 £51,439 17 8 ! - £51,439 17 8

12

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Wellington Depot Profit and Loss Account for trie Year ended 31st March, 1918. Dr. £ s. d. £ s. d. Gr. £ s. d. To Wages .. .. .. .. .. .. .. 4,117 2 7 By Balance of Trading Account .. .. .. .. .. .. 11,410 8 4 Salaries .. .. .. .. .. .. .. 977 7 9 Balance: Loss .. .. .. .. .. .. .. 1,693 2 6 Rents .. .. .. .. .. .. .. 700 0 0 Rates .. .. .. .. .. .. .. 147 3 8 Interest .. .. .. .. .. .. .. 163 15 11 Travelling expenses and allowances .. .. .. 16 13 5 Repairs and maintenance .. .. .. .. .. 534 14 5 Telegrams and postages .. .. .. .. .. 30 0 0 Printing and stationery .. .. .. .. .. 120 19 4 Insurances .. .. .. .. .. .. 15 11 0 Cartage.. .. .. .. . .. .. 5,032 19 0 Sacks .. .. .. .. .. .. .. 419 13 2 Freights, &c. .. .. .. .. .. .. 333 15 11 General expenses.. .. .. .. .. .. 76 14 8 Alterations .. .. .. .. .. .. 110 0 0 Audit fees .. .. .. .. .. .. 13 0 0 Depreciation .. .. .. .. .. .. 294 0 0 13,103 10 10 £13,103 10 10 i £13,103 10 10 Christchurch Depot Trading Accoun for the Year ended 31st March, 1918. Dr. £ s. d. £ s. d. Cr. £ s. d. £ s d To Stocks on hand at 31st March, 1917 .. .. .. .. 1,175 18 BBy Sales of coal .. .. .. .. .. .. 41,570 16 8 Purchases of coal.. .. .. .. .. .. 30,369 910 Sales of firewood, coke, &c. .. .. .. .. 1,671 2 5 Purchases of firewood, coke, <fcc. .. .. .. .. 1,087 11 0 43,241 19 1 31,457 0 10 Stocks on hand at 31st March, 1918— Haulage to depot .. .. .. .. .. .. .. 2,781 4 2 Coal .. .. .. .. .. .. .. 68 15 1 Gross profit . : . .. .. .. .. .. ~ 8,491 19 7 Firewood, coke, &c. .. .. .. .. .. 595 9 1 ■ 664 4 2 £43,906 3 3 £43,906 3 3

13

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Christchurch Depot Profit and Loss Account for the Year ended 31st March, 1918. Dr. £ s. d. £ s. d. i Cr. £ s. d. To Wages .. .. .. .. .. .. .. 2,449 9 10 Bv Balance of Trading Account .. .. .. .. .. .. 8,49119 7 Salaries .. .. .. .. .. .. .. 951 10 0 Rents .. .. .. .. .. .. .. 90 10 0 Interest and exchange .. .. .. .. .. 222 6 2 Repairs and maintenance .. .. .. .. .. 164 18 2 Telegrams and postages .. .. .. .. .. 20 0 0 Printing and stationery .. .. .. .. .. 104 10 9 Insurances .. .. .. .. .. .. 16 6 6 Travelling-expenses .. .. .. .. .. 30 17 2 Cartage .. .. .. .. .. .. .. 2,870 16 9 Sacks .. .. .. .. .. .. .. 94 18 7 Freights'.. .. .. .. .. .. .. 223 811 General expenses .. .. .. .. .. .. 63 11 10 Audit fees .. .. .. .. .. .. 12 6 8 Depreciation .. .. .. .. .. .. 382 15 0 7,698 6 4 Balance: Net profit .. .. .. .. .. .. 793 13 3 £8,491 19 7 £8,491 19 7 Wanganui Depot Trading Account for the Year ended 31st March, 1918. Dr. £ a. d. £ s. d. ; Gr. £ s. d. £ s. d. Tj Stocks on hand at 31st March, 1917 .. .. .. .. 57S 0 9 By Sales of coal .. .. .. .. .. .. 16,879 9 6 Purchases of coal .. .. .. .. .. 12,686 3 3 " Sales of firewood, coke, &c. .. .. .. .. 1,207 1 0 Purchases of firewood, coke, ice. .. .. .. 653 17 7 18,086 10 6 13,340 0 10 Stocks on hand at 31st March, 1918— Haulage to depot .. .. .. .. .. .. 835 4 2 Coal .. - .. .. .. .. ... 85 7 4 Gross profit .. .. .. .. .. .. ~. 3,658 17 5 Firewood, coke, &c, .. .. .. .. .. 240 5 4 325 12 8 £18,412 3 2 £18,412 3 2

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Wanganm Depot Profit and Loss Account for the Year ended 31st March, 1918. Dr. £ s. d. £ s. d. Gr. £ s. d. To Wages .. .. .. .. .. .. .. 759 18 IBy Balance of Trading Account .. .. .. .. .. .. 3,658 17 5 Salaries.. .. .. .. .. .. .. 556 13 8 Rents .. .. .. .. .. .. .. 189 0 0 Interest and exchange .. .. .. .. ... 81 13 0 Repairs and maintenance .. .. .. .. 122 14 7 Telegrams and postages .. .. .. .. .. 16 5 11 Printing and stationery .. .. .. .. .. 45 7 4 Travelling-expenses .. .. .. .. ... 14 17 4 Insurance .. .. .. .. .. .. 610 8 Cartage .. .. .. .. .. .. .. 1,151 15 2 Sacks .. .. .. .. .. .. .. 46 1 3 Freights, &o. .. .. .. .. 87 15 2 General expenses .. .. .. .. .. 55 16 10 Audit fees .. .. .. .. .. .. 800 Bad debts .. .. .. .. .. .. 812 9 Depreciation .. .. .. .. .. .. 147 S 7 3,298 10 4 Net profit .. .. .. .. .. .. .. 360 7 1 £3,658 17 5 £3,658 17 5 Dunedin Depot Trading Account for the Year ended 31st March, 1918. Dr. £ s. d. £ s. d. Gr. £ s. d. £ s. d. To Stocks on hand at 31st March, 1917 .. .. .. .. 954 17 IBy Sales of coal .. .. .. .. .. ..10,823 10 11 Purchases of coal.. .. .. .. .. .. 7,120 5 1 Sales of firewood, coke, (fee. .. .. .. .. 119 17 0 Purchases of firewood, coke, &c. • .. .. .. .. 76 8 7 10,943 7 11 7.196 13 8 Stock of coal on hand at 31st March, 1918 .. .. .. .. 15 6 10 Wharfages, &c. ............ 564 14 8 Cartage to depot .. .. .. .. .. .. 159 13 9 724 8 5 Balance: Gross profit .. .. .. .. .. ... 2,082 15 7 £10.958 14 9 £10,958 14 9 Dunedin Depot Profit and Loss Account for the Year ended 31st March, 1918. Dr. £ s. d. £ s. d. . Gr. £ s. d. To Wages .. .. .. '.. .. .. .. 583 15 5 Bv Balance of Trading Account .. .. .. .. .. .. 2,082 15 7 Salaries .. .. .. .. .. .. .. 395 16 11 Balance: Loss .. .. ' .. .. .. .. •• •• 373 1 7 Rents .. .. .. .. .. .. 200 0 0 Rates .. .. .. .. .. .. .. 26 1 9 Interest .. .. .. .. .. .. .. 50 8 2 Repairs and maintenance .. .. .. .. .. 25 11 10 Telegrams and postages ..........916 Printing and stationery .. .. .. .. .. 34 2 9 Insurances .. .. .. .. .. .. 2 6 10 Travelling-expense? .. .. .. .. .. 106 6 6 Cartage .. .. .. .. .. .. .. 836 6 8 Freights, &c. .. .. .. .. .. .. 33 13 11 General expenses .. .. .. .. .. .. 22 19 7 Sacks .. .. .. .. .. .. .. 21 9 0 Audit fees .. .. .. .. .. .. 21 0 0 War bonuses .. .. .. .. .. .. 676 Depreciation .. .. .. .. .. .. 85 8 10 2,460 17 2 £2,460 17 2 £2,460 17 2

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16

Statement of the Receipts and Expenditure of the New Zealand State Coal-mines for the Year ended 31st March, 1918. Receipts. Expenditure. To Cash in hand and in Public Account at 31st £ s. d. £ s. d. B y Point Elizabeth CoUiery— £ s. d. £ s. d. March, 1917 .. .. .. .. 68.01S 110 Property and development .. .. .. 120 4 2 Proceeds of sale of ooal .. .. .. 313,859 53" Stores and materials .. .. .. .. .. .. .. 11,993 111 Recoveries 7,026 14 4* Wages .. .. .. .. .. .. .. .. 37,961 2 11 Refunds, &c 172 19 5 ™~> Timber 113 9 11 321.058 19 0 Special rate .. .. .. .. .. .. .. .. 965 1 0 Royalty .. .. .. .. .. .. .. .. 1,028 3 0 Liverpool Colliery— 52,181 2 11 Property and development .. .. .. .. .. .. 2,480 2 10 Machinery, plant, and rolling-stock .. .. .. .. .. 3,169 4 0 Buildings .. .. .. .. .. .. .. .. 127 1 8 Cottages .. .. .. .. .. .. .. .. 837 7 5 Stores and materials .. .. .. .. .. .. ... 2,723 17 6 Wages '.. .. .. .. .. .. .. .. 45,357 4 6 Timber .. .. .. .. .. .. .. .. 15 4 7 • Special rate .. .. .. .. .. .. .. .. 1,232 1 6 55,942 4 0 Seddonville Account .. .. .. .. .. .. .. 730 Charming Creek Account .. .. .. .. .. .. 1,399 14 7 Hulks, working .. .. .. .. .. .. .. 960 611 Wellington Depot, working .. .. .. .. .. .. 16,462 15 3 Christchurch Depot, working .. .. .. .. .. .. 11,508 14 0 Wanganui Depot, working .. .. .. .. .. .. 5,602 4 4 Dunedin Depot, working.. .. .. .. .. .. .. 3,278 711 39,219 6 0 Management and office salaries .. .. .. .. .. .. 2.949 11 11 Rents .. .. .. .. .. .. .. .. .. 156 0 0 Interest and exchange .. .. .. .. .. .. .. 8,714 9 2 Marine freights .. .. .. .. .. .. .. .. 81,471 5 8 Travelling-expenses .. .. .. .. .. .. .. 217 16 10 Printing and stationery .. .. .. .. .. .. .. 161 10 4 Telegrams and postages .. .. .. .. .. .. .. 140 11 o Repairs and maintenance .. .. .. .. .. .. 2,511 10 7 Railway haulage .. .. .. .. .. .. .. 26,902 3 6 Insurances .. .. .. .. .. .. .. .. 301 0 1 Compensation for accidents and fund .. .. .. .. .. 1,709 610 General expenses .. .. .. .. .. .. .. 131 15 4 Terminal charges .. .. .. .. .. .. .. 4,140 3 5 Cargo adjustments .. .. .. .. .. .. .. 16 7 7 Refunds .. .. .. .. .. .. .. ... 23 17 0 Audit fees .. .. .. .. .. .. .. .. 28 3 4 Head Office alterations .. .. .. .. .. .. .. 96 14 5 Warbonus .. .. .. ~ .. .. .. .. 9,238 15 8 23g mi 2 S Cash in hand and in Public Account at 31st Maroh, 1918 .. .. .. 113,217 17 9 Less vouchers passed .. .. .. .. .. .. .. 10,394 12 6 —- 102,823 5 3 £389,077 0 10 £389,077 0 10 State Coal-mines Office, Wellington, Bth June, 1918. W . D . S . MacDonald. Minister of Mines. Louis H. Eileks, F.8.A.,iN.Z., Accountant.

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Table showing the Position of the State Coal-mines Account from Inception to 31st March, 1918.

Name of Works. Total Capital Expenditure. Total -Amount of Depreciation written off. Assets: Net Capital as per Balance-sheet, 1918. Net Profits. Net Losses. Liabilities as per Balance-sheet, 1918. Point Elizabeth Colliery Less loss by fire and sales £ e. 97,779 11 904 8 d. 5 5 £ s. d. £ s. d. £ s. d. £ s. d. f s. d. 96,875 3 0 95,488 4 6 1,386 18 6 116,560 10 11 Point Elizabeth (Liverpool Colliery) Seddonville Colliery Less sales Briquette-works property Less sales of plant Charming Creek prospecting 178.952 7 38.187 6 548 11 37,638 15 16,135 2 2,066 5 14,068 17 5,956 18 0 8 0 8 6 0 6 6 44,286 16 8 37,638 15 8 14,068 17 6 5,956 18 6 134,665 10 4 19,632 5 8 39,380 17 7 22,663 1 11 5,956 18 6 Wellington Depot property Less sales Christchureh Depot property .. Less loss on horses Wanganui Depot property Less loss on horses Dunedin Depot property Less sale of plant 5,884 0 323 5 5,560 14 7.654 17 40 0 7,614 17 2,948 12 40 0 2,908 12 2,007 17 300 0 1.707 17 3 6 9 2 0 2 0 0 0 7 0 7 - 2,882 8 5 3.672 16 4 1,042 19 0 1.164 17 7 2,678 6 4 3,942 0 10 1,865 13 0 543 0 0 ; 3,071 6 11 1,211 12 11 90 6 3 3,160 7 3 I I

C.-~2a.

Table showing the Position of the State Coal-mines Account from Inception to 31st March, 1918— continued.

Approximate Cost of Paper. —Preparation, not given; printing (1,200 copies), £2(1

I'y Authority : Marcus |>\ Marks, Government Printer, Wellington.—l9lB.

Price 9d.]

18

Name of Works. Total Capital Expenditure. Total .Amount of Depreciation written off. Assets: Net Capital as per Balance-sheet, 1918. Net Profits. Net Losses. Liabilities as per Balance-sheet, 1918. £ s. 33 15 d. i 5 d. £ s. d. £ s. d. i £ s. d. £ s. d. £ s. d. Hulks property Less sales -I 4.033 15 1,650 0 5 0 2.383 15 2.383 15 83 15 • 5 5 5 2.025 6 8 358 8 9 Offioe furniture Less sales 189 1.3 17 5 189 13 17 5 89 1.3 i 9 9 0 9 0 17 S 11 o 172 72 8 g . 9 9 172 8 9 172 8 9 Grand total Less losses and sales i 359,730 2 5.889 14 : 353. 840 7 359,730 2 3 5.889 14 11 30 2 3 1 1 3 11 4 89 14 40 7 : 11 4 208.400 9 7 145,439 17 9 353.840 7 4 208.400 9 7 Discounts OOO. OtV I 13 2 9 Totals, profits and losses Balance, profits over losses Stocks on hand Loan-flotation charges (balance) Suspense and Deposits Accounts Sundry debtors Cash on hand Debentures and Loan Account Sundry creditors Accrued interest Sinking Fund Account Reserve Fund Account Bad Debts Reserve Account .. General Profit and Loss Account 7.736 17 500 0 261 2 11.686 6 102.823 5 7 0 6 5 3 _i_ 11.9,645 0 7 92.267 18 10 27,377 1 9 227.601 0 9.112 2 4.357 4 13.200 0 5.884 11 250 0 8.042 10 7 8 6 0 9 0 7 268.447 9 6 j 119,645 0 0 7 119,645 0 7 268.447 9 6 7 119,645 0 7 Lours H. EixERS, P.R.A.,N.Z., Accountant.