8.—14.

Eobert J. Collins, The Treasury, lOfch June, 1908. Secretary to the Treasury. No/tes.—The contingent liabilities are as under:— Money liable to be advanced t) local bodies as required, when the provisions of the Act are complied with, .£183,203. Applications from Lands and Survey Department tor which the necessary steps are not yet completed, £36,739. The total amount borrowed up to the 31st March, 1908, was £2.928.100. The total amount repaid to Public Works Fund up to the 31st March, 1908, was £89,800. The total amount advanced to local bodies up to the 3Lst March, 1908, was £2,344,944 17s. 5d.; less refunds, £30,172 lis. 7d. = £2,314,772 ss. lOd. The total amount advanced under " The Government Loans to Local Bodies Act Amendment Act, 1891," and " The Local Bodies' Loans Act, 1901," up to the 31st March, 1908, was £5L2,b87 13s. 9d.; less refund of £L3l = £512,256 13s. 9d. * £1,421,800 of this amount has been converted into consolidated-stock debentures under " The Consolidated Stock Act, 1884." t Including second year's grants, for which all formalities have been completed. t These amounts represent the debt as inscribed up to the Ist February, IUOB. They include the inscribed stock exchanged for debentures under " The Koads and Bridges Construction Act, 1882," amounting to £89,878 Bs. 9d. (See 8.-13,1891.)

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£ a. d. £ s. d. Cash balance, 1st April, 1907 .. .. ., .. .. .. .. .. 397 0 8 Money borrowed to make advances to local bodies .. .. .. .. .. 185,000 0 0 185,397 0 8 Money advanced to local bodies .. .. .. .. .. .. .. .. 136,420 0 0 Money advanced under section 73 of. " The Local Bodies' Loans Act, 1901 " .. .. .. 38,524 2 6 174,944 2 6 Less refunds by— £ s. d. Clutha County Counoil .. .. .. .. .. 71 12 3 Wairarapa South County Counoil .. .. .. .. 91 7 7 Manganui Road Board .. .. .. .. .. 324 5 1 Clifton County Council .. .. .. .. .. 178 11 7 Whangarei Borough Counoil .. .. .. .. .. 152 5 9 818 2 3 174,126 0 3 Cash balance, 31st March, 1908 .. .. .. .. .. .. .. .. £11,271 0 5 Statement of Liabilities. Outstanding liabilities, — £ s. d. £ s. d. £ s. d. Debentures issued under the Government Loans to Local Bodies Acts*.. .. 2,928,100 0 0 Under " The Government Loans to Local Bodies Act, 1886," and " The Local Bodies' Loans Act, 1901 " — Money promised to local authorities which have complied with the provisions of the Actf .. .. .. .. .. 165,396 0 0 Under " The Government Loans to Local Bodies Act Amendment Aot, 1891," and section 73 of " The Local Bodies' Loans Act, 1901 " — Unpaid balance of loans .. .. .. .. .. 82,452 0 7 247,848 0 7 £3,175,948. 0 7' Statement op Assets. Assets, — £ s. d. £ s. d. £ a. d. Payments for twentv-six years of i l per cent, per annum on amount of inscribed debts of local bodies (£1,043,603 14s. 4d.{) .. .. 1,221,016 6 10 Payments for thirty-two years of 4 per cent, per annum on amount of ins-cribed debts of local bod'ies (£54,079 12s. 6d.J) .. .. .. 69,22118 4 Payments for forty-one years of 3J per cent, per annum on amount of inscribed debts of local bodies (£1,301,333 4s.{) .. .. .. 1,867,413 2 10 3,157,651 8 0 Less amount paid in respect of the annual repayments .. 920,314 0 3 2,237,337 7 9 Inscribed debt under " The Government Loans to Local Bodies Aot Amendment Act, 1891 " .. .. .. .. .. 512,256 13 9 Less amount refunded on disposal of lands .. .. .. 280,308 16 1 231,947 17 8 Sinking fund created under section 96 of "The Local Bodies' Loans Act, 1901" .. .. .. .. .. .. .. .. 600,183 9 3 Cash balance, 31st March, 1908 .. .. .. .. .. .. 11,271 0 5 £3,080,739 15 1