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nance of such a school. It appears from the evidence that there is not sufficient revenue to defray the annual expenditure of the present high school for boys, and therefore for the maintenance of a girls' high school aid must for the present be obtained from other sources. It is anticipated that the rent of some of the endowment reserves will at an early date increase considerably; that the interest on loan of £3,500 will be reduced; that there will be a larger attendance at the boys' high school, and consequently additional revenue from school fees, while there will be no corresponding increase of cost for teaching. If these expectations be realised, and strict economy be practised, there should be an annual surplus, which the Governors could devote in aid of the maintenance of the girls' high school, but such surplus will not be available for that purpose immediately. (b.s.) Joseph Shepherd. January, 1887. ■ (1.5.) Wm. Montgombey. [Approximate Cost of Paper —Preparation, nil; printing (1,500 copies), £1 11s. 6d.]

Authority : Geoege Didsbuby, Government Printer, Wellington.—lBB7.