o.—lb.

Schedule 111. -Trees Account. Number. Trees received during year .. .. .. .. .. 2.647,100 Less, to replace blanks .. .. .. .. 279.285 Planted on new area of 823 acref .. .. .. 2,367,816 Previously planted .. .. .. .. .. 9,640,636 Total number planted on 5,450 acres (average age IJ years) .. 12.005. |.">l Schedule IV. Property Account. £ b. d. Land (9,547 acres) ; Crown land not charged to Forestry Account Buildings .. .. .. .. .. .. 868 10 5 Improvements .. .. .. .. 1.456 211 Fencing .. .. .. .. .. .. 763 3 11 Stoves in hand . . .. . . . . . . 284 15 3 £3,372 12 6 Balance-sheet. £ „. ,i. Total expenditure .. .. .. .. .. .. 36,544 0 (i Less Property Aocount .. .. .. .. .. 3.372 12 6 Cost of operations .. .. .. .. .. .. £33,17] 8 0 5,450 acres planted (average age, \\ years); cost per acre .. .. £6 1 9 Estimated value of plantation per acre .. .. .. .. £10 .", 2 Schedule V.—Statement showing Cos/ oj Operations. Kor Year. To Dan-. C s. ,1. t s. ,1. Total expenditure.. .. .. -"...".IT II 7 29.921 I II Deduct cost oi fencing, buildings, and roailformation, Ac. .. .. .. 106 15 8 3,522 15 10 3.240 18 II '26.398 9 I Add proportion of total expenditure on fencing. buildings, road-formation, &c. .. .. 207 "> I 1.072 I I Cost of planting 823 acres, and maintenance of 5,450 acres' .. .. .. £3.418 2 3 Cost of planting and maintaining 5,450 acres .. .. £27.170 10 2 Average cost of planting and maintenance Per acre .. .. .. £4 3 9 £5 0 9 Per 1.000 tices .. .. .. I '.) 2 2 5 9 Statement showing Cost oj Operations (with Value oj Work done by Prison Labour treated as on Expenditure). During Year. To Date £ s. ,1. £ s. ,1. Total expenditure.. .. .. * .. .".317 11 7 29,921 111 Prison labour .. .. .. .. 031 Id '.) 6.622 15 7 1.282 II I .'1(5.51 I o li Deduct cost of fencing, buildings, &c. .. 106 15 8 1,721 2 6 1.175 18 8 31.822 18 0 Add proportion of fencing, buildings, Ac. .. 267 1 7 I..'lis |o o Cost of planting 82:; acres, and maintaining 5. 150 acres .. .. .. .. £4,443 0 3 Cost of planting and maintaining 5,450 acres .. .. £33,171 8 o Average cost of planting and maintaining— Per acre .. .. .. .. 15 7 11 £6 1 9 Per 1.000 trees . . . . .. 117 7 2 15

18