C—lb

74

Schedule IV. — Property Account. « (1 Land (2,568 acres) ; Crown land, not charged to Forestry Ac-count Buildings .. .. .. .. .. .. .. 722 0 t> Stock Improvements .. .. .. .. .. .. 2.051 (I li Fencing .. .. .. .. .. .. .. 1,021 13 11 Stores in hand .. .. .. .. .. .. 123 18 7 £3,918 13 9 Balance sheet. y. c. d. Total expenditure .. .. .. .. .. .. 13,130 l."> I Less Property Account .. • .. .. .. .. 3,91H L 3 9 Cost of operations (1,451$ acres planted; average age, six pears) .. £H. 212 I 7 Estimated value of plantation per acre .. .. .. .. £10 lo 0 A. J. BOYDELL, Plantation Foreman. \V. G. Morrison. Nurseryman in Charge

A/,f,,v., In 11,- Co.-1 vi Paper.— Preparation not given; printing [1,600 copies, Including Illustrations and maps), £124.

Sv Authority: John MaCkay. Government 1 Printer. Wellington. 1911.

Price Us. 3d.}