E.—3a.

or £9 per head, making the net cost of each boy £18. The remainder of the wages, amounting to £111 Bs., has been placed to a trust account in the Savings-bank for the benefit of contributing boys and girls ; the total credit of this fund is now £392 14s. 3d. The general charges for rates, taxes, insurance, repairs, &c, and on girls' account, have amounted to £129 17s. Bd. The trustees offered to purchase from the New Zealand Estates Company a triangular piece of land in Richmond Eoad, west of and adjoining their present property, and which they thought would be a convenient addition to their block, but they could not agree as to terms, and have therefore abandoned the idea. The balance-sheet is attached, and shows that the income has exceeded the expenditure by £27 6s. 4d., which being added to the balance of revenue accounts gives that a credit of £1,644 19s. 4d. The total amount of the cash assets of the institution is £10,470 16s. 7d., and the value of the land, building, and furniture is £3,996 6s. 6d. The interest received from investments has been £540 18s. 5d., a smaller sum than in previous years, but this is owing to the general fall in rates and for money uninvested. The trustees have a difficulty in finding good securities that will pay over 4 per cent. W. C. Daldy, Chairman, i

Balance-sheet on 31st December, 1896. Dr. £ s. d. & s. a. Or. & s. d. £ s. i. To Costley bequest .. 12,150 0 0 By Buildings and land .. .. 3,996 6 6 Rebecca Hodge be- Mortgages and interest .. 7,539 1 0 quest .. .. 672 3 9 Fixed deposits '.. .. 1,500 0 0 12,822 3 9 Savings-bank .. .. 392 14 3 Savings-bank Trust Ac- Manager's cash in hand 18 4 3 count .. .. .. 392 14 3 Cash in bank.. .. 1,413 11 4 Revenue Account .. .. 1,644 19 4 — 1,43115 7 £14,859 17 4 £14,859 17 4 Revenue Account, Tivelve Months ending 31st December, 1890. Dr. £ s. d. | Cr. £ s. d. To Maintenance .. .. .. 708 11 2! By Interest .. ..... .. 540 18 5 Boys' allowances .. .. .. 10 13 6 Boys' earnings .. ... .. 251 1 7 General expenses, rates, &c. .. .. 45 9 0 Balance .. .. .. .. 27 6 4 £792 0 0 £792 0 0 £ s. d. By Balance .. .. .. 27 6 4 Dr. 30th December, 1895 .. .. 1,617 13 0 To Balance per balance-sheet .. ..£1,044 19 4 £1,644 19 4 Examined and compared with the books and vouchers, also securities, and found to agree therewith, and I am of opinion the above presents a true state of the affairs of the institute. O. B. Waymouth, Auckland, 14th January, 1897. Public Accountant, Auditor.

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