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respective accounts. J anticipate the Boys' High School will l>l , able to repay its debit, but the claims on the College Account are so pressing that I cannot sec any prospect of its share of the above liability for buildings being repaid from the Maintenance Account. Summary of Proposals. 1. That, in order to give greater fixity of tenure and encourage tenants to improve their holdings, the Board's endowments be let for twenty-one years instead of fourteen. 2. That the Finance and Estates Committee inquire into the desirability of subdividing the farm lands and pastoral runs which will come up for re-lease in 1910 and 1911. 3. That a chair of physics be established, and the Professor appointed report on the building and equipment necessary for the laboratory. 4. That the Government be asked to provide a sum of £20,000 (to be spread over five years) for the purposes of providing increased lecture-rooms, a physical laboratory, and a College library, and that if they accede to the request . t he works be undertaken at once. 5. That the Board consider how far and in what ways it is possible to provide for a greater measure, of benefit to the people of ( Ihristchurch from the endowments of the Boys' High School. 6. That a hostel be established for the Boys' High School. 7. That a section relating to the early colonists *be established at the Museum, also a manuscript collection relating to notable men in the history of the Dominion. 8. That a school of music be established which shall have power, under this Board, of granting diplomas in music. In conclusion I have to thank the Board for the sympathetic way in which it has received the proposals which I have made from time to time in the direction of reorganizing and strengthening the finances of the institutions under its control. The work that is transacted by this Board is far larger than that laid upon any other educational authority in the Dominion, and it may be a matter of satisfaction to the members to know that the finances of the College are sound, that during the last few years several thousands of pounds of debts have been extinguished, that we have no overdraft, that our capital is intact, and that we can look forward to the future with confidence and hope. Summary op Receipts and Expenditure for Years 1907 and 1908. Receipts. 1907. 1908. £ s. d. £ 8. d. Balance at Ist January .. .. .. .. I2,ti(l!) 5 5 15,297 7 1 Routs from reserves .. .. .. .. .. 14,445 3 0 19,648 10 il* Interest on mortgages and debentures .. .. .. 1,036 310 617 1 1 House-rent .. .. .. .. .. .. 32 6 8 53 17 <> Fees (including capitation for free places) .. .. 7,870 7 I 8,271 17 4 <Mivernment grants and subsidies (exclusive of capitation for free places) .. .. .. .. .. 7,740 lti li 4,448 11 If Public library subscriptions, lines, *0. .. .. .. I.OOH 17 5 867 4 1(1 Voluntary contribution—Hoys' High School gymnasium .. .. 80] 8 li Voluntary contributions—Whale-skeleton .. .. .. 201 10 <> Kiuciiue from bequests and donation .. .. .. 561 17 7 212 10 0 Miscellaneous . . .. .. .. .. . . 357 2 4 84 13 7 Repayment of loans .. .. .. .. .. 8,450 0 0 £54,110 0 1 £50,389 12 3 • Includes £4,567 13b. Kid. accumulated rente of Coldstreani Reserve. t Includes £601 8». 6d. pound-for-pound subsidy oil contributions Boys' High School Gymnasium. Expenditure. 1907. 1908. £ s. d. £ 8. d. Buildings (including repairs) .. .. .. .. 3,620 19 6 3,023 14 10 Apparatus, plant, material, and equipment (including fittings) 1,629 Iβ 9 2.7C52 9 10 Salaries (exclusive of office staff). . .. .. .. 18,160 9 4- 19,626 2 2 Sal .lies of office staff .. .. .. .. .. 1,104 1 8 1,216 14 11 Inspection of reserves .. .. .. .. .. 340 0 11 .">(I2 0 3 Maintenance and improvement of reserves .. .. 237 8 9 168 11 1 \ihertising, printing, and stationery .. .. .. 6W 9 8 b'2s 9 5 Fuel and lighting .. .. .. .. .. 612 16 0 653 16 7 Rates and insurance .. .. .. .. .. 247 3 0 308 12 5 Exhibitions and scholarships .. ... .. .. 370 0 0 396 13 4 Books, binding, newspapers, &c, at public library .. .. 536 16 10 ;>44 !l !l Interest .. .. -. .. .. .. 329 5 1(1 180 0 0 Part payment Supreme Court award .. .. .. 3,500 0 0 Students'club .. .. .. .. .. 177 6 11 19 3 B I'incliaso of tramway debentures • . . .. . . 5,700 0 0 Purchase of town sections in Collego block .. .. .. 3,450 0 0 Purchase of Okarito whale-skeleton .. .. .. .. 400 0 0 Fixed deposite .. .. • .. -. .. .. 5,142 13 10 Miscellaneous .. .. .. .. .. .. 1,551 17 In 1,031 10 8 Balance at 31st December .. .. . . .. 15,297 7 1 10,638 9 9 £54,110 0 1 £50,389 12 3