C—3

3

Under section 32 of the Finance Act, 1918, authority was provided for raising £200,000 for forestry purposes, and during the year £65,000 was raised and placed to the credit of the State Forests Account. The revenue from indigenous forests amounted to only £6,058 13s. 7d., and the revenue from plantations and nurseries to £2,455 2s. 3d. State Forests Account— Receipts and Payments, 1919-20. , Or. Dr. £ s. d. £ s. d. £ s. d. To Cash in hand, Ist April, 1919 .. 2,399 5 6 By Interest on debentures .. 3,577 0 3 Loan Account- Debentures issued .. 65,000 0 0 Nurseries and plantaRevcnuo from State forests, rents, tions— royalties, &c. .. .. .. 6,058 13 7 Material, buildings, Revenue from nurseries and planta- planting, pittions— £ a. d. ting, &c. .. 43,794 18 3 Trees .. .. 572 14 9 Extension of nurFirewood and polos .. 685 11 1 series .. .. 145 0 2 Seeds .. .. 114 17 11 Expenses of surveys 123 4 8 Grazing .. .. 163 4 9 Dog Creok Bridge.. 50 0 0 Rentals .. .. 77 17 3 44,113 9 1 Sheep, wool, and skins 631 5 7 State forestsRoyalty on sulphur .. 16 14 11 Additions to State Sundries .. .. 192 16 0 forests.. .. 7,293 19 8 2,455 2 3 Management expenses.. .. 1,562 111 Kauri-g v m —■ E x - penses of collection 120 11 9 Collection of treeseeds .. .. 27 13 5 9,004 6 9 Sundry expenditure— Salaries .. .. 9,047 18 5 War bonus .. 1,803 10 10 Temporary clerical assistance .. 300 15 0 Travelling-expenses 1,524 10 4 Books, stationery, &c. .. .. 513 17 1 O ffi c c furniture, technical instruments, &a. .. 222 13 6 Specimens of New Zealand timber 15 11 6 Cost of printing Sir D. Hutehins's report .. .. 172 10 0 Grant to Sir D. Ilutchins .. 100 0 0 Cash in hand, 31st March, 1920 .. 5,516 18 7 19,218 5 3 £75,913 1 4 £75,913 1 4 State Forests Account.—Loan Account as at 31st March, 1920, Dr. Cr. To Loan authority— £ By Debentures issued — £ Section 50, Finance Act, 1916 .. .. 50,000 1916-17—Section 50, Finance Act, 1916 10,000 Section 32, Finance Act, 1918 .. .. 200,000 1917-18—Section 50, Finance Act, 1916 28,100 Section 7, State Forests Act, 1908 .. 10,000 1918-19— £ Section 50, Finance Act, 1916 11,900 Section 32, Finance Act, 1918 15,000 26,900 1919-20— Section 50, Finance Act, 1916 ") ~r nnn Section 32, Finance Act, 1918 j " 0d > uuu Balance of authority at 31st March, 1920 130,000 £260,000 £260,000 Trade. General. During the year there was a strong revival of building and construction works, and it is to be regretted that a shortage of coastwise shipping prevented this demand being satisfied. Increased cost of production has caused a corresponding rise in the selling-price of timber. The only party which has not participated in the increased prices is the State, as royalties have remained the same. Some advantages have, however, resulted from increased timber-values : for example, a less wasteful utilization of the forest is now fairly general, and beech (birch) is now being used far more than before; in fact, the many uses to which this timber is now being put makes valuable large areas of forest which heretofore have been considered almost worthless commercially.