27

E.—7.

One of the students in residence at the College was granted an agricultural bursary under ilic scheme announced by the Minister of Education early in the year. This student was given permission to hold the bursary at this College. Towards the end of the year the Director of Education approached the Board in regard to our taking more bursary students under the above scheme. A temporary arrangement was arrived at whereby this Board agreed, to admit bursary students, approved of and sent by the Education Department, so long as war conditions last or room is available, after which a conference between the two bodies will be necessary. In making Ihis offer the Board felt that: it was contributing liberally towards the education of these bursary students, as the bursaries do not cover the cost of maintenance, which is provided by the College iis well as instruction. Satisfactory progress is being made in the improvement of cereals by selection. This class of work is necessarily slow; bad seasons have further hindered the work, but we hope lo add considerably to our selections this season. The College and farm buildings are in good repair, and over £1,000 out of revenue has been spent in replacing obsolete buildings at the Ashley Dene and College farms. The farm has also been maintained at. its high state of fertility. The season of 1917 was much better than 1916, but the rainfall was not sufficient to make up for the shortage of the two previous years, .iiid the early crops were seriously affected by a very dry November, in conjunction with an abnormally early and severe attack of rust, which reduced the prospective value of all cereals by nearly 50 per cent. In May last a block of land of 1-10 acres which intersected the College paddocks was offered to tho Board, and they decided to purchase it, It makes the farm more complete, and, as it is better cropping-land than a large portion of the College lands, it was considered inadvisable to miss the opportunity of acquiring it. All classes of stock have been kept at their former high standard. This is best demonstrated by the number of prizes obtained by the stud stock at the two principal shows at which they were exhibited. College stud rams also made the highest average at the Christchurch Ham Fair held in March. 1 have, Ac, R. E. Alexander, Director. To the Hon. the Minister of Education, Wellington. ACCOUNTS AND BALANCE-SHEETS. Statement of Receipts and Expeottiture for the Year endeb 31st December, 1917. Receipts. £ s. d. I Expenditure. £ s. <!■ Balance, 1st January, 1917 .. .. 1,991 J> 9 Salaries of staff .. .. .. 1,596 17 3 Students'books—Sales .. .. 34 18 2 Students'.maintenance .. .. 2,717 12 I College contingencies .. .. .. 106 13 2 Farm wages.. .. .. .. 1,482 0 4 Farm contingencies .. .. .. 83 9 2 Live-stock .. .. ., .. 1,757 3 10 Sales of dairy-produce and wool .. 2,313 4 3 Students' books .. .. .. 57 13 5 Students'fees .. .. •■ I,(i33 8 4 Buildings—Ropairs, &o. ,. .. 189 8 1(1 (train sales .. .. .. .. 610 10 5 College contingencies . . . . .. 754 11 I Insurance of collogo—Rebate .. . . 118 3 Churches and sports —Donations .. 25 5 0 Interest on deposit .. .. .. 32 5 0 I Students' fee-,—Rebate .. .. 26 13 4 Interest on investments .. .. 742 15 0 College insurance .. .. .. 78 2 I Live-stock sales .. .. .. 4,002 11 1 Laboratory .. .. .. .. 165 13 8 Laboratory . . .. .. . • 5 7 10 Henley farm —Deposit . . .. • 1,200 0 0 Library ' .. .. .. . • 114 Library .. .. .. .. 27 15 8 Permanent Improvements Account—Sale Orchard and grounds .. .. .. 181 0 (i of plant .. .. .. •■ 450 0 0 Permanent improvements .. .. 1,328 1 0 Rates—Refund .. ■■ ■• 0 1,8 0 Prizes and certificates.. .. .. 28 8 (I Rents .. •• •• •• 2,850 7 1.0 Printing and advertising .. .. 32 4 (i Students'maintenance —Rebates .. 118 2 10 : Rates .. .. .. .. 157 5 li Stationery and exchange .. .. 3 12 0 I Scholarships.. .. .. .. 100 0 0 Saddlery fees . . . . . • 5 13 0 Stationery, telephone, exchange, &c. . . 68 15 8 Farm trades . . .. .. .. 87 4 0 Students' travelling-expenses . . . . 65 19 I Farm wages —Refund .. .. 8 2 2 Board travelling-expenses .. .. 38 1(1 (I Farm contingencies .. . . .. 403 10 4 Dairy sundries . . .. , . 43 3 7 Farm fuel .. .. .. .. 52 8 3 Farm insurance . . .. . . 29 17 8 Implements .. .. .. .. 65 1 0 Manures .. .. .. .. 320 0 I Seeds ... .. .. .. 278 17 0 Saddlery—Instruction and material .. 71 (i 11 Farm trades . . .. .. .. 234 17 4 Workshops—Material and wages .. 135 2 4 Balance, 31st Decombor, 1917 .. .. 1,389 12 0 ,—, — £15,102 17 7 £15,102 17 7 Investment Account. £ s. d. £ s. d. Balance, 1st January, 1917 .. .. 41 5 7 Mortgage .. .. .. .. 13,500 0 0 Invested on mortgage .. .. .. 13,500 0 0 Balance, 31st December, 1917 .. .. 41 5 7 £13,541 5 7 £13,541 5 7