8.—6

26

Table No. 19. Statement showing how Accumulated Surpluses have been applied. To Accumulated surpluses at £ By Transfers to — £ £ 31st March, 1920 ..17,538,976 Discharged Soldiers Settlement Surplus for financial year Account — 1920-21 .. .. 6,132,233 1920-21 .. .. 13,330,000 Surplus for financial year 1921-22 .. .. 170,000 1922-23 .. .. 1,315,683 -13,500,000 Surplus for financial year Discharged Soldiers Settlement 1923-24 .. .. 1,812,365 Depreciation Fund Account — 1920-21 .. .. 50,000 1921-22 .. .. 50,000 1922-23 .. .. 50,000 1923-24 .. .. 50,000 200,000 Public Works Fund. 1920-21 500,000 Public Works Fund, 1923-24 1,000,000 1,500,000 Reserve Fund Securities Account — For purchase of securities, 1920-21 .. .. 1,200,000 For redemption of loan, 1922-23 .. .. 800,000 2,000,000 Loans redemption, 1921-22. . 560,011 Loans redemption, 1922-23.. 2,359,960 Loans redemption, 1923-24.. 1,367,341 4,287,312 Less amount transferred in 1922-23 recovered from Native Land Settlement Account in 1923-24 .. 22,600 . 4,264,712 Education Loans Account, 1923-24 .. 100,000 Ordinary revenue — To balance revenue and expenditure, 1921-22 .. .. .. 279,831 Investments at 31st March, 1924 — State Advances securities* 2,326,150 Bank of New Zealand shares 375,000 Sundry Treasury securities 373.187 3,074,337 Balance at 31st March, 1924 .. 1,880,377 £26,799,257 £26,799,257

* £2,040,000 for new loan issues 1923-24, and £286,150 for redemptions and charges and expenses of raising loans.

Authority : W. A. G. SKINNBE, Government Printer, Wellington.— l 924.