C.—lβ.

12

Value of Stock, Improvements, &c. £ s. d. £ s. d. £ s. d. Amount at 31st March, 1908 ... ... 14,170 3 3 Less value of trees at 31st March, 1908 ... ... ...6,738 19 9 Less horse-feed in stock at 31st March, 1908 ... ... 102 5 0 Less tools written off during year 5 2 6 6,846 7 3 7,323 16 0 Trees, as per Schedule 1 ... ... ... ... ... 2,590 10 0 2 ... ... ... 3,871 16 6 3 ... ... ... ... ... 1,907 0 6 Tools and implements ... ... ... ... ... 78 1 6 Nursery-formation ... ... ... ... ... 82 19 10 Fencing... ... ... ... ... ... ... 9 2 1 Buildings ... ... ... ... ... ... 118 17 9 Improved value ... ... ... ... ... ... 174 6 8 Horse-feed in stock ... ... ... ... ... 103 9 7 Value of young horses bred, or increased value, during year ... 25 0 0 £16,285 0 5 Summary. £ s d Value of present stock and general improvements ... ... 16,285 0 5 Value of trees sent out since initiation of nursery ... ... 26,268 1 4 42,553 1 9 Expenditure to date ... ... ... ... ...17,270 4 11 Credit balance ... ... ... ...£25.282 16 10

Stock in Hand. Schedule 1.—Details of One-year-old Trees, grown 1908-9. (Twelfth Crop.)

Schedule 2.—Two-year-old Trees, grown 1907-8. (Eleventh Crop.)

Name of Tree. ■SnEh H Tnfhes in iSeedsown. ™T Seed-beds. Inches. Thousand, Total Value. Remarks. Larix Europsea Pinus Laricio ponderosa „ Benthamiana Pseudo-tsuga taxifolia .. Picea sitchensis Fraxinus excelsior Betula alba Alnus glutinosa Quercus pedunculata .. Thuja gigantea 1,500,000 400,000 300,000 100,000 30,000 75,000 50,000 1,000 11,000 30,000 30,000 2-5 14 H 14 3 1 3 2 4 6 1 Lb. 308 112 36 14 10 5 3 sacks 3 1h. 31b. 1J sacks I lb. £ s. d. 10 0 10 0 10 0 15 0 15 0 15 0 10 0 1 0 0 0 15 0 10 0 1 10 0 £ s. d. 1,500 0 0 400 0 0 300 0 0 125 0 0 37 10 0 93 15 0 50 0 0 10 0 8 5 0 30 0 0 45 0 0 Excellent crop. Pine strong plants. Well-grown plants. Fair crop. Germinated unevenly. Germinated poorly. Strong plants. Well-grown plants. Germinated splendidly. Totals.. 2,527,000 2,590 10 0

Name of Tree. Number in Seed-beds. Number in I Nursery Lines. height in Inches. Value per Thousand. Total Value. Remarks. £ s. d. 15 0) 2 0 0{ 1 5 0) 2 5 0) 1 5 01 2 5 0} 1 5 0 2 10 0 2 10 0 15 0 1 10 0 2 5 0 2 0 0 2 5 0 2 10 0 6 0 0 3 0 0 2 10 0 £ s. d. iarix Europsea 50,000 1,243,000 9-18 | ' ! ' ! 2,548 10 0 Unusually fine trees. Grub destroyed many. Satisfactory. 'inus Laricio 643,000 26,000 862 5 0 „ ponderosa 7,000 44,000 107 15 0 „ Benthamiana 'seudo-tsuga taxifolia .. 'icea sitchensis.. fraxinus excelsior ioer pseudo-platanus ietula alba dnus glutinosa .. Juercus pedunoulata 'agus sylvatica lequoia sempervirens Ihuja gigantea .. r arious trees and shrubs 41,000 16|500 1,500 6 8 7 14 18 15 16 10 11 7 5 12 51 5 0 41 5 0 3 15 0 8 15 0 60 0 0 27 0 0 59 0 0 84 7 6 8 15 0 3 12 0 0 12 0 5 0 0 7,000 Strong growth. 40,000 12,000 29,500 37,500 3,500 600 200 2,000 Very fine. Good progress. Uneven growth. Totals 748,000 1,456,300 3,871 16 6 2,204