2

8.—15 a.

Statutoby Payments by Bank of New Zealand. The statutory payments of £50,000 have been duly received, the amount accrued due at Slst M_2h 1905 having been paid on the Ist April, 1905, together with a further £152,910 as ti!Z™ tVw, 16th June 1905 The £50,000 due on the 31st March last was paid on the 2ndTprit and a further £170,847 has 'since been received. The total payments by the bank to date are £996,360. Debentuke Intekest. Debenture interest, amounting to £42,176, has been paid, and provided for from revenue as under: — _ £ From surplus 1905-6 ... ... ••• ■■■ ••• sn'nnn Statutory payment by Bank of New Zealand 1905 -,^'qin Add additional payment by Bank of New Zealand ... ••• 10Z - alu 227,139 , • i „ f . ... 184,963 leaving a surplus of ... ... _ ••• ■•• ••• which is to be carried to Realisation Adjustment Account to provide for deficiencies on realisations. Add bank payment for 1906 of 5U ' UUU to carry forward. Realisations. Sales to the extent of £183,785 have been made during the year, as compared with £113,787 the previous year, viz.:— igo4 _ g 19056 Country lands . - 83?657 177?8M Town lands 2 - 695 6 4 31 86,252 183,785 Stock, implements, k, sold on properties finally realised 27,5d5 - £113,787 £183,785 The proportion of sales to book cost (£2,731,706) is 56-65 per cent., and to land-tax valuation, plus 10 per cent, for sundry properties and my valuation for station properties, which together pcSd P rB9s- n i9o6 (mcluding stock) total £1,547,600, as follows :- Deficiency on Book Cost (including Book Cost. Realisation Expenses, &c). Sales of properties finally realised £ £ £ 1895-1906 (includingstock) ... 740,294 337,888 1,078,182 Properties partially realised, 1895--1906 ... 807,306 £1,547,600 The localities of the sales made are as follows :— „ „ Town Suburban Estates. Farms. Sections. Properties. £ ££&- ::: " 3 S 7 S *S ::: S?:SS ! a « » ... %X Malborough- ... 1 9 65 6 ... 66,883 Wellington 2 18 37 1 ... 173,839 1,431,048 Proceeds realisation of sundry assets ... ... im'ftn? Stock sales on properties finally closed ... ... • ll>'.»u< £1,547,600 Station Pbopeeties. Comparison of Actual Profits for Eleven Years, Stations sold during that Period being omitted. v Q „,.»-n,Un<* Actual Profit. Percentage Percentage J. c "3 £ on Book Cost. on my Valuation. IRQfT •••' 16 . 195 1-51 4 2 9 ISO 7 ... 30,852 2-90 8-17 iqqq '" . ... 22,423 2-10 5-94 Ihqo '" 36,031 3-40 9-54 Iqoo 32,956 3-25 8-73 iqoi 44,390 4-33 11-76 jqOQ " 17,053 1-86 4-51 Toaq " 33,891 3-82 897 !qO4 "" ' 20,741 2-54 5-49 Tqos 17,598 2-30 4*66 __ ;:: ... 15,174 2-37 Average £2~671i~9 2-76 7-10