5

8.—13

The foregoing is the statutory balance-sheet drawn up as required by the Audit Office under section 50, (l)-(5), of "The Government Advances to Settlers Act, 1894." John McGowan, Superintendent. P. Heyes, f.s.a.a. Eng., Accountant. Balances at 31st March, 1903, being, — Or. £ a. d. By Investment Account .. .. .. .. .. .. 29,486 2 1 Suspense Aocount .. .. .. .. .. .. .. 4,411 17 7 £33,897 19 8 Dβ. » ■ £ a. d. To Cash 33,007 8 1 Bills receivable .. .. .. .. .. .. .. 890 11 7 £33,897 19 8 Examined and found correct. — J. K. Warbubton, Controller and Auditor-General.

Statement of Liabilities and Assets at 31st March, 1903. Liabilities. £ s. d. Assets. £ s. d. 3-per-cent. loan, re- Investment Account — deemable 1st Advances on mortApril, 1945, " A" £1,500,000 0 0 gage.. ..£3,516,285 0 0 3-per-cent. loan, re- Less repayments 925,74119 0 deemable 1st -2,590,543 1 0 April,1945, "B" 500,000 0 0 Temporary investments, Bank of New 3-per-cent. sundry Zealand guaranteed stock .. .. 4,836 17 0 loans .. .. 740,000 0 0 Sinking Fund investment with Public Advances on ac- Trustee .. .. .. .. 125,867 7 10 count of loan .. 200,000 0 0 Assurance Fund investment with — 2,940,000 0 0 Public Trustee .. .. .. 67,911 16 8 Assurance Fund .. .. 67,911 16 8 Mortgage instalments receivable—overSuspense Account .. .. 4,411 17 7 due .. .. .. .. 1,385 8 8 Aoorued interest payable .. .. 49 14 1 Bills receivable .. .. .. 890 11 7 Profit and Loss Account .. .. 3,167 11 1 Interest receivable—overdue.. .. 6,043 17 0 Interest receivable—accrued .. 27,173 8 2 Cash in hand and in bank .. .. 33,007 8 1 Loan-flotation charges .. .. 157,881 3 5 £3,015,540 19 5 £3,015,540 19 5

Statement of Pkopit and Loss Account for the Year ended 31st March, 1903. i Dr. £ s. d. Ck. £ s. d. To Management Expenses Account .. 4,420 1 10 By Balance at 31st March, 1902, brought Balance, net profits to forward .. .. .. .. 46,172 11 7 31st March, 1902 .. £46,172 11 7 Interest Account, gross profits .. 29,326 18 0 Net profits for the year ended 31st March, 1903 .. .. 24,906 16 2 71,079 7 9 £75,499 9 7 £75,499 9 7 I Transfer to Assurance Fund Aooount.. 67,91116 8 Balance down .. .. .. 71,079 7 9 Balanoe, net profits carried forward .. 3,167 11 1 £71,079 7 9 j £71,079 7 9

2—B. 13.