H.—l

6

The endowments of Auckland College and Grammar School were granted by Sir George Grey in 1850, but the school did not commence operations till 1869, the funds in the meantime having been allowed to accumulate. The endowment now yields an annual revenue of £1,759 175., with a " probable income from renewed tenancy "of £1,979 2s. For the last nine years the school has been carried on in temporary premises ; but buildings have now been erected at a cost of £7,4*24 55., which was defrayed mainly by a grant of £5,000 from the Colonial Government, the remainder being taken from the accumulated funds of the college, which at the time amounted to about £7,500. It was proposed to draw to a larger extent on this fund in order to provide accommodation for boarders ; but, this intention having been for the present abandoned, the balance remains, and affords revenue to the institution. Exclusive of arrears both at the beginning and end of the year, and on both sides of the account, and omitting money received and spent for building purposes, and a sum of £105 13s. 4d. received from the School Commissioners, the income and expenditure for 1879 was as follows : — Income — £ s. d. Bents ... ... ... ... ... 1,678 13 0 Interest on investments ... ... ... ... 529 10 0 Fees— school ... ... £1,642 4 0 „ evening classes ... ... 97 15 0 ■ 1,739 19 0 Total ... ... ... ... £3,948 2 0 Expenditure —■ £ s. d. Salaries ... ... ... ... ... 3,059 0 8 Repairs to buildings ... ... ... ... 70 3 10 Contingencies ... ... ... ... ' 599 17 5 Total ... ... ... ... £3,729 111 The number of pupils on the roll for 1879 was 210 ; and the regular staff of the school consists of seven masters, besides the masters for French and drawing. Wellington College has been for several years past in financial difficulties, owing, according to the evidence taken, to the unproductive nature of the reserves with which it is endowed, to a heavy debt incurred for the building of a boarding establishment, and to the small number of pupils in proportion to the population. The endowments consist of certain town sections, which were the original grant to the Grammar School, and which now bring in £1,080 Bs. 3d. per annum; with a "probable income from renewed tenancy" of £2,442; the suburban reserve of 69 acres on which the College is built, 19 acres of which the governors are empowered to let on building leases, an arrangement which it is estimated will eventually add £400 or £500 to the annual revenue; and a large area of rural land, valued at £9,357, but which is not likely to bring in any revenue as a leasehold within a reasonable time, unless it can be leased with a purchasing clause. The original College building was erected, at a cost of £4,000, from a fund raised by private donations and grants from the Provincial Government. The portion of the building afterwards erected to serve as a master's residence and for boarders cost £5,000, which sum was borrowed, and now occasions an annual charge on the revenue of £500. The small attendance at the school is attributed to several causes, all of which are of a temporary nature; and a recent rearrangement of the school has been followed by a rapid increase in the number of pupils. The revenue and working expenses of the school for the year 1880 are estimated as follows: — Income — £ s. d. Rents of reserves ... ... ... ... 1,080 8 3 Tuition fees ... y . ... ... 980 0 0 Total ... ... ... ... £2,060 8 3 Expenditure — £ s. d. Salaries ... ... ... ... 2,225 0 0 Contingencies ~, ' ... ... ... 497 0 0 Interest on debt ... ... ' ... ... 500 0 U Total ... ... ... ... £3,222 0 0

Auckland College gcho?i rammar int. Rep.—Min. a Px°'' P325; Appx.'to Journals iB7°9 c'-3 esB Ir>

Wellington College. • of Pro°,Pp. lEtf Appx.,p. 36.

Appx. to Journals 9 f^>_g ess-n >

int. Rep., Evid., 5iG2■ibid., 5460.