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Inspections and Rangers' Reports. These* 1,094 inspections by the two Rangers in the east-coast district, of an area of 144,164 acres, being an increase of 238 in number, but|a decrease of 131,639 acres on last year's figures. The value of the improvements required to be effected was £54,487 ; the amount actually spent was £114,995, being £60,508 more than was required to be spent. In the west-coast district 734 inspections were made by the two Rangers, of an area of 147,986 acres, being a decrease of eighty-eight in| number and an increase of 62,755 acres in area from last year's figures. The amount required to be spent on improvements was £80,581, whereas £192,252 was expended, being £111,671 in excess of requirements. The grand totals for both districts are as follows : Number of inspections made, 1,828, over an area of 292,149 acres, being an increase on last year's figures of 150 in number and a'decrease of 68,884 acres in area. Improvements were required to be effected to the value of £135,068, and improvements actually done amounted to the value of £307,247 ; excess, £172,179. Out of 1,828 holdings inspected, only 105 selectors had not complied with requirements. Rebates of Rental. Rebate amounting to £2,497 for prompt payment of rental was granted to 2,314 selectors. These figures show an increase over last year's returns of 127 selectors and £79 in amount. Areeaes of Rental. There are 136 selectors in arrear with two or more payments, amounting to £1,279 165., comprising an area of 16,736 acres, being a decrease on last year's figures of £431 4s. in amount and forty-one in number, the area being lessfby 3,115 acres. The total arrears, inclusive of the current half-year's rents, are 317 in number, £3,027 in amount, for 48,229 acres. These show a substantial decrease on last year's figures. Small Grazing-euns. Eight leases expired by effluxion of time during the year, the annual rent being £243 12s. 9d., and the area 5,652 acres. All these runs have been offered to and accepted by the late lessees at new valuations, in terms of section 209 of " The Land Act, 1885." Forfeitures and Surrenders. There were four forfeitures during the year on ordinary Crown leases, four under the land-for-settlements lease-in-perpetuity tenure, and four Native-township leases, the total area being 989 acres, and the total annual rent £220. Two surrenders, of an area of 14 acres, were accepted, the annual rent being £10. Reserves and Endowments. During the year 2,692 acres was reserved for the following purposes : Scenery, gravel, stock, primary education, public buildings, &c. An area of 9,733 acres, set aside as an endowment for the Wanganui River Trust, was disposed of during the year as small grazing-runs. Cash Lands. The area disposed of for cash was 1,744 acres, comprising two selections of 1,672 acres under Part 111 of " The Land Act, 1892," the land purchased without option being 100 lots of town land, aggregating 50 acres, one suburban lot of 3 acres, and two rural lots of 19 acres. Fifty-one lots of Pohangina Township (Wanganui Harbour Board Endowment), aggregating 12 acres 3 roods, were sold for cash, the price realised being £288. Timber Royalties. The revenue received under this heading amounted to £297. Meetings of the Land Board. During the year the Land Board held twenty-five meetings. " Thirds " and " Fourths." The allocation under " The Land Act, 1892," of the proportions of rent from. Crown lands taken up under the various systems of tenure has been made, and the amounts paid to the credit of the respective local authorities, to whom £6,211 os. lid. has been paid for duly approved proposals for roadworks and under hypothecation certificates. There were 249 proposals for expenditure of " thirds " and " fourths " received from the local bodies, and after careful examination 235 of these were submitted to the Land Board for favourable consideration, and were approved. Seven certificates of hypothecation were also approved of by the Land Board and issued under the signature of the Chairman. I regret to have again to report that the proposals for the expenditure of the accrued " thirds " and " fourths " made by. certain of the local bodies have not been adequate or in accordance with the amounts standing to their credit. On the 31st March last, £15,983 os. 2d was in the Receiver of Land Revenue's Deposit Account to the credit of the County Councils and Road Boards, while during the twelve months only £6,211 os. lid., as mentioned above, has been disbursed. lam now having a schedule prepared showing the various amounts standing to the credit of the local authorities of which