MANGATU BLOCKS 1, 3, AND 4 (STATEMENT OF ACCOUNTS OF THE) AS AT 31st MARCH, 1922.

Appendix to the Journals of the House of Representatives, 1923 Session I-II, G-04

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Session 11. 1923. NEW ZEALAND.

MANGATU BLOCKS 1, 3, AND 4 (STATEMENT OF ACCOUNTS OF THE) AS AT 31st MARCH, 1922.

Presented to the House of Representatives in pursuance of the Mangatu No. 7 Empoioering Art, 1S!)3

MANGATU No. I. Balance-sheet as at 31st March, 1922. Liabilities. Assets. £ s. d. E s. d. £ s. d. £ s. d. Public Trustee .. .. 40,151 12 9 Freehold property .. .. 195,237 0 0 Less amount on hand on Improvements .. .. 2,83(i 14 11 account of rents .. 3,070 17 0 Roads .. .. 2,092 5 I 37,080 15 9 Survey expenses .. 287 8 6 Rank of Australasia — 5,210 8 0 Mortgage Account . . 10,000 0 0 Advances— Interest accrued .. 329 17 3 Mangatu No. 3 and No. 4 10,329 17 3 Block .. .. 3,408 12 5 Current Account .. 19,089 9 4 WaingaromcaandßangiInterest accrued .. 072 10 10 tira .. .. 10,492 18 7 20,302 0 2 W. L. Rees .. .. 1,024 1 1 Sundry creditors on open account .. 404 9 2 Sundry block advances 300 110 Accrued rates .. .. .. 375 5 8 Owners in Mangatu No. 1 4,339 8 11 Suspense Account —Amount recovered Distribution Account 304 0 0 from T. P. Tait (deceased) and held Owners appeal on account pending decision re capitalization of of Blocks 1 and 4 .. 492 12 0 losses .. .. .. .. 712 1.3 2 Owners on account of Capital Account .. .. .. 105,083 9 10 Royal Commission .. 780 13 4 Sundry expenses re renewal of leases .. 410 10 0 22,105 4 2 Live-stock— Sheep .. .. 3,005 10 0 Cattle .. .. 098 0 o Horses .. .. 30 0 0 3,733 10 0 Stores on hand .. .. .. 20 0 0 Sundry debtors — On Open Account .. 190 8 1 Outstanding rents .. 757 4 3 953 12 4 Investments — Poverty Bay P.M. Company (Limited) .. 375 0 0 Williams and Kettle (Limited) .. . . 35 0 0 410 0 0 Plant . . .. .. 432 0 4 Less depreciation .. 54 0 0 378 0 4 Furniture .. .. 107 17 3 Less depreciation .. 11 10 0 96 7 3 Produce unrealized — Wool .. .. 080 0 0 Beef .. .. 190 0 0 870 0 0 Insurance paid in advance .. 20 19 3 W. N. Park's imprest account .. 50 0 0 Income Account .. .. 5,251 15 2 £234,408 17 0 £234,408 17 0

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Farming Account for the Year ended 31st March, 1922. £ s. d. £ ■'■ <*• To Wages and shearing .. .. 492 18 7 By Wool sold.. .. .. .. 33 12 6 Salary- Station manager .. .. 300 (I 0 Bonus on stock .. .. .. 9 7 4 Stores .. .. .. .. 243 4 6 Bonus on goods .. .. .. 7 16 11 Cartage .. .. .. .. 58 18 6 Balance to Income Account .. 3,538 15 0 Repairs .. .. .. .. 40 9 8 Telephones .. .. .. 13 18 9 Fire insurance .. £13 12 0 Accident insurance 8 6 5 21 18 5 Rates .. .. .. .. 444 8 6 General expenses .. .. .. 0 8 0 Depreciation— Farming plant .. £54 0 0 Station furniture.. 11 10 0 65 10 0 Loss from Cattle Account .. .. 778 3 7 Loss from Sheep Account .. .. 1,104 15 6 Loss from Horses Account .. . . 24 17 9 £3,589 11 9 £3,589 11 9 Income Account for the Year ended 31st March, 1922. £ s. d. £ s. d. To Balance .. .. .. .. 6,245 7 1 By Rentals .. .. .. .. 9,313 7 0 Transfer from Farm Account .. 3,538 15 0 Dividend —Williams and Kettle (LiGeneral expenses .. .. .. 55 17 9 raited) .. .. . ■ • • 2 2 0 Travelling-expenses .. .. 68 15 4 Balance .. .. .. .. 5,251 15 2 Legal expenses .. .. .. 6 6 0 Salaries .. .. .. .. 207 14 9 Commission —Public Trustee .. 383 16 11 Interest .. .. .. .. 4,000 11 4 £14,567 4 2 £14,567 4 2 Sheep, Cattle, Horses, and Wool Accounts for the Year ended 31st March, 1922. Sheep Account. £ s. d. I £ s. d. To 1,200 W. lambs at 14s. .. .. 840 0 0 j By Nicoll Bros., 187 wethers and 64 ewes 171 5 3 2,000 4-, 6-, and 8-tooth ewes at 20s. .. 2,000 0 0 . Nelson Bros., 250 sheep .. .. 184 2 3 650 2-tooth ewes at 20s. .. .. 650 0 0 | Dalgety and Co., 258 5-year ewes .. 177 12 9 580 2- and 4-tooth wethers at 23b. .. 667 0 0 , Williams and Kettle— 150 2- and 4-tooth wethers at 20s. .. 150 0 0 160 skins .. .. .. 6 4 6 540 cull ewes at 14s. .. .. 378 0 0 419 ewes .. .. .. 208 9 9 80 rams at £6 (is. .. .. 504 0 0 C. S. and Co., 633 ewes .. .. 425 2 7 E.C.C.—265 lambs at 9s. .. .. 119 5 0 5,200 5,189 0 0 j Stocks on farm at 31st March, 1922 .. 3,005 10 0 Advance against produce (572 sheep) .. 187 7 0 Railage eight trucks sheep to Kaiti Farm Account .. .. .. 1,104 15 0 works .. .. .. .. 16 4 10 Expenses trucking sheep .. .. 18 6 G.S.F. M. Co.—185 ewes at 14s. 9d. .. 136 8 9 C.S. and Co.—395 ewes at 12s. (id. .. 246 17 6 £5,589 14 7 £5,589 14 7 Cattle Account. £ s. d. £ s. d. To 70 3-year bullocks at £10 .. .. 700 0 0 By 51 hides .. .. .. .. 61 6 6 40 cows and calves at £6 10s. .. 260 0 0 ' 5 hides .. .. .. .. 3 3 9 6 cows at £12 .. .. .. 72 0 0 E.C.C.—43 bullocks .. .. 215 0 0 40 yearlings at £2 10s. .. .. 100 0 0 Cattle on farm at 31st March, 1922 .. 098 0 0 1 Hereford bull .. .. .. 15 0 0 196 quarters beef unrealized .. 196 0 0 -— Farm Account .. .. .. 778 3 7 157 Produce unrealized at 31st March, 1921 (beef) .. .. .. .. 487 2 10 H. Twistleton—dairy cow .. .. 12 1 0 E.C.C.—94 steers .. .. .. 305 10 0 £1,951 13 10 £1,951 13 10 Horses Account, To Horses on station — £ s. d. £ s. d. 10 horses at £7 .. .. .. 70 0 0 By Horse sold to Roadman .. .. 4 0 0 Sledge horse x Caulton .. .. 10 0 0 Horse sold to Park .. .. 5 0 0 Grey gelding x Dalgety .. .. 15 0 0 3 horses sold to W. and K. .. .. 31 2 3 Horses on farm .. .. .. 30 0 0 Farm Account, .. .. .. 24 17 9 £95 0 0 £95 0 0

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Wool Account. £ s. d. I £ s. d. To 90 bales wool unrealized, 31st March, By Bank of Australasia,—Advance against 1921 .. .. .. .. 900 0 0 (Hi bales wool, " Ruapehu" less Insurance on wool .. .. .. 719 6 charges £51 125.) .. .. 234 8 0 Farm Account .. .. .. 33 12 0 112 bales wool unrealized .. .. 080 0 0 Insurance on wool refunded .. 2 0 0 Advance against Produce Account (8 bales wool) .. .. .. 25 4 0 £941 12 0 i £941 12 0 Live-stock on Farm at, ■list. March, 1922. £ s. d. Sheep, 4,530, valued at .. .. .. 3,005 10 0 Cattle, 180, valued at .. .. .. 098 0 0 Horses, 6, valued at .. . . .. 3(1 0 0 £3,733 10 0 Auditor's Certificate. I have audited the accounts of Mangatu No. .1 Block, East Coast Native Trust lands, for the year ended 31st March, 1922, and my report on the audit of the accounts is contained in my lottor of even date, to the Minister of Native Affairs. Arthur T. Clarke, A.C.A., Auditor. Wellington, 21st August, 1922. MANGATU Nos. 3 AND 4. Balance-sheet as at 31st March, 1922. Liabilities. Assets. £ s. d. Freeholds— £ s. d. £ s. d. Mortgage Account—Foster's trustees .. 1,000 0 0 Mangatu No. 3 .. 21,640 0 0 Mangatu No. 1 .. .. .. 3,408 12 5 Mangatu No. 4 .. 18,000 0 0 Accrued rates and interest .. .. 207 17 2 39,040 0 0 Capital Account .. .. .. 39,04(1 0 0 Improvements— Fencing .. .. 1018 7 Survey charges .. 541. .1.7 0 703 5 7 Revenue Account .. 4,175 1 0 Add Income Account (3 1 st March, 1922) .. 338 2 0 4,513 4 0 £44,850 9 7 £44,856 9 7 Income Account for the Year ended 31st March, 1922. £ s. d. i £ s. d. To Land-tax .. .. .. .. 40 4 2j By Rent .. .. .. .. 163 11 2 Rates .. .. .. .. 107 18 0 ' Balance .. .. .. .. 338 2 0 Interest .. .. .. ..293 10 0 £501 13 8 j £50.1. 13 8 Auditor's Certificate. I have audited the Accounts of Mangatu Blocks 3 and 4, East Coast Native Trust lands, for the year ended 31 st March, 1922, and my report on the audit of the accounts is contained in my letter of even date, to the Minister of Native Affairs. Arthur T. Clarke, A.C.A., Auditor. Wellington, .21st August, 1922. Wellington, 21st August, 1922. The Hon. the, Minister of Native Affairs, Wellington. Sir, — I have the honour to report that I have completed the audit of the accounts of Mangatu Block No. 1, East Coast Native Trust lands, for the year ended 31st March, 1922, also the, accounts of Mangatu Blocks 3 and 4 for a similar period, and now have jileasure in enclosing copies of same. I would make the following comments in connection with these accounts. The balance of principal due by Mangatu Block No. 1 to the Public Trustee has been reduced to £41,151 12s. 9d. as at 31st March, 1922. There is also on account of rents in hand a sum of £3,070 17s. which was to be further applied in reduction of the principal in April last. Land-tax for the years 1920-21 and 1921-22 is not included in the accounts, and the matter is still in abeyance. You will notice there is an amount of £712 13s. 2d. under the heading of " Suspense Account." This amount was recovered from the estate, of the late T. P. Tait, and it is expected that within the present twelve months a further amount will be received. This amount is being held in suspense pending a decision as to the treatment in the accounts of certain capital charges.

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Stock.- This year a supplementary account has been prepared showing the position of the Sheep, Cattle, Horses, and Wool Accounts. In regard to the stock at the 31st March, 1922, I have accepted without reservation the figures as certified to by Mr. Park, the farm-manager, and by Mr. H. Syme, the farm-supervisor, and Mr. Harvey, as agent for the Native Trustee at Gisborne. You will notice the stock lias been taken at a very low figure, and in a great measure accounts for the loss shown in each of the statements. No notice has been taken of the stock which is in the bush. Some of the wandering stock may be recovered, and if so it will go to the credit of the year's working. It is intended to adopt standard values for live-stock in future years. Woo! Account. —The small profit shown on wool appears to be due to the fact that there were ninety bales unrealized at the 31st March, 1921 ; these were valued at £10 per bale, but only a portion of these have been realized, and at a much reduced price. At the 31st March, 1922, the value of the balance of the unrealized wool of the 1920 and 1921 clips was reduced to about £5 per bale. On the assets side of tho balance-sheet you will notice an amount of £410 16s.- sundry expenses re renewal of leases. This amount has been placed there temporarily until the question of the renewal, or otherwise, of the remaining leases has been decided upon. Mangatu Nos. 3 and 4 Blocks- -These accounts are incorporated in the accounts of Mangatu No. 1 Block, but a, separate balance-sheet and Income Account has been prepared, which, is enclosed herewith. You will observe; that the rent is insufficient to pay rates and taxes, &c, let alone interest on advances from Mangatu No. 1. Subject to the foregoing remarks, 1 certify that tho accounts, as signed by me, are in my opinion correct. I have, &c.,| Arthur T. Clarke.

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