5

8.—13

The foregoing is the statutory balance-sheet drawn up as required by the Audit Office under section 50, (1) to (5), of "The Government Advances to Settlers Act, 1894." John McGowan, Superintendent. P. Heyes, f.s.a.a. Eng., Accountant. Examined and found correct. —J. K. Warburton, Controller and Auditor-General. Balances at 31st March, 1904, being,— Cb. £ s. d. By Investment Account .. .. .. ~ .. .. 11,344 13 11 Suspense Account .. .. .. .. .. .. .. 4,424 2 7 £15,768 16 6 Db. £ s. d. To Cash .. .. .. .. .. .. .. .. 14,978 4 11 Bills receivable .. .. .. .. .. .. .. 790 11 7 £15,768 16 6

Statement of Liabilities and Assets at 31st March, 1904. Liabilities. £ R. d. | Assets. £ b. d. 3-per-cent. loan, redeemable Ist April, Investment Account— 1945, "A" .. .. .. 1,500,000 0 0 Advances on mort-3-per-cent. loan, redeemable Ist April, gage .. .. £3,980,100 0, 0 1945, "B" .. .. .. 500,000 0 0 Less repayments 1,184,251 6 5 Sundry loans .. .. .. 990,000 0 0 2,795,848 18 7 Advances on account of loans .. 200,000 0 0 Temporary investments, Bank of New Assurance Fund .. .. 91,418 10 3 Zealand.. .. .. .. 4,836 17 0 Suspense Account .. .. 4,424 2 7 Temporary investments, 3-per-cent. Aoorued interest payable .. .. 32 12 6 stock .. .. .. .. 9,393 15 7 Profit and Loss Account .. .. 6,221 10 0 Sinking Fund investment with Public Trustee .. .. .. .. 158,520 4 9 Assurance Fund investment with Public Trustee .. .. .. 91,418 10 3 Mortgage instalments receivable—overdue .. .. .. .. 1,589 12 2 Bills receivable .. .. .. 790 11 7 Interest receivable—overdue.. .. 6,502 1 5 Interest receivable—accrued.. .. 29,752 1 1 Loan-flotation oharges .. .. 178,466 3 0 Cash in hand and in bank .. .. 14,978 411 £3,292,096 15 4 £3,292,096 15 4 Statement of Profit and Loss Account for the Year ended 31st March, 1904. Db. £ s. d. Cb. £ g. d. To Management Expenses Account .. 4,891 11 3 By Balance at 31st Maroh, 1903, brought Balance, net profits to forward .. .. .. .. 3,167 11 1 31st March, 1903 .. £3,167 11 1 Interest Account, gross profits .. 31,452 3 9 Net profits for the year ended 31st March, 1904 .. .. 26,560 12 6 29,728 3 7 £34,619 14 10 £34,619 14 10 Transfer to Assurance Fund Aooount.. 23,506 13 7 Balanoe down, net profits .. .. 29,728 3 7 Balanoe, net profits oarried forward .. 6,221 10 0 £29,728 3 7 £29,728 3 7

2—B. 13.