G.—B

2

dated. The interest paid amounts to a large sum —£1,685 11s. Bd.; but the blocks for the benefit of which the mortgage advances were obtained all show a surplus for the year after payment of interest and expenses, and their redemption is only a matter of time. The estimated net surplus at date is £175,811. We have, &c, J. Macfahlane, Chairman. W. Shrimp ton ).., , J. A. Harding, (Members. The Hon. the Minister of Native Affairs, Wellington.

Schedule of Lands held by the East Coast Native Trust Lands Board as at 25th August, 1906.

Remarks. Maraetaha No. 2, Sections S and 6, is distant about twenty miles from Gisborne. Unimproved. Good pastoral country. Will be available for lease or for occupation by Natives on adjustment of interests as between the.various blocks in the estate. Mangapoike No. 2. —-A portion of the 4,424 acres reserved for Natives is partly improved and in the occupation of Natives. The 5,079 acres held for disposal are unimproved, and in the meantime are reserved for lease at a future date or for occupation by Natives. All lessees are rapidly effecting first-class improvements and stocking their holdings. Mangaokura.— Unimproved. Adjoining Crown timber reserve. At present chiefly valuable for its timber. Mangatu Nos. 5 and 6. —-Unimproved heavy bush pastoral country of average quality. At present inaccessible for want of road access. Unsuitable for settlement in small areas, but as settlement is rapidly advancing in the direction of these blocks it may be possible in the near future to bring them into profitable pastoral occupation. Maungawaru Nos. 2 and 3. —Unimproved. Very broken, mixed quality. Only suitable for pastoral occupation in large areas. At present entirely without road access. Mangaheia 2d. —Improved pastoral and agricultural land, mostly of excellent quality. All leased. Lessees are effecting further improvements. After payment of interest and other outgoings, part of the rent is paid over to the beneficiaries ; the balance is applied towards a sinking fund in redemption of mortgage for £11,000 raised by the Board to pay off the old debt to the bank, and for the expenses of subdivision. Paremata. —Mostly well-improved pastoral country. Rents are applied in payment of interest and towards a sinking fund for redemption of mortgage for £3,000 raised by Board to assist in paying off the bank's claim on the block. Pakowhai. —Improved agricultural land, let on a quarterly tenancy. Te Kuri and Tangotete Nos, J and 2, —-Valuable agricultural land, partly improved by and in the occupation of Natives,

Areas. Lands held. Held for Future Disposal. Capital Value. Present Annual Rental. Total. Reserved for Natives. Leased. Maraetaha No. 2, Section 3.. ,, 6.. Mangapoike No. 2.. Mangaokura No. 1.. Mangatu No. 5 .. „ No. 6 .. Maungawaru No. 2 No. 3 Mangaheia No. 2d Paremata Pakowhai Te Kuri Tangotete No. 1 .. No. 2 .. Taliora No. 2 Tawapata South No. 1 Whangawehi Lα .. K - J ,, Iβ and lc 32g .. Acres. 2,050 2,648 37,721 2,027 20,075 20,075 14,802 18,720 5,997 2,498 374 400 5 75 51,104 4,376 £980 1,204 [J 10 Acres. 4,424 f. . 50 Acres. 28,218 5,997 2,448 374 Acres. 2,050 2,648 5,079 2,027 20,075 20,075 14,802 18,720 £ 3,100 7,300 34,000 2,000 10,000 10,000 5,500 7,000 35,000 7,800 1,600 6,000 75 1,125 43,000 12,000 2,500 3,000 450 £ 1,224 1,759 405 60 400 5 75 22,045 18,259 4,376 980 1,204 10,800 560 600 60 60 10 185,141] 26,999 61,856 96,286 191,450 4,728