B.—l TPT. IYI.

PUBLIC WORKS DEPARTMENT—continued. TIMBER-SUPPLY AND SAWMILLS (PUBLIC WORKS FUND): MAKOMAKO SAWMILL. Trading and Profit and Loss Account for the Year ended 31st March, 1926. Dr. £ s. d. Or. £ s. d. To Timber on hand, Ist April, 1925 .. .. 264 3 8 By Sales of timber .. .. .. .. 4,576 12 3 Milling and cartage .. .. .. 2,850 4 1 Royalty on sleepers, &c. .. .. .. 103 7 2 Wages .. .. .. .. .. 224 2 0 Timber on hand, 31st March, 1926 .. .. 516 16 8 Royalty (value of bush written off) .. .. 533 2 10 Tramway.. .. .. .. .. 50 0 0 Gross profit, carried down .. .. .. 1,275 3 6 £5,196 16 1 £5,196 16 1 £ s. d. £ s. d. To Salaries .. .. .. .. .. 104 18 4 By Gross profit .. .. .. .. 1,275 3 6 Interest on capital at 4J per cent. .. .. 234 011 Net profit for year .. .. .. 936 4 3 £1,275 3 6 £1,275 3 6 £ s. d. £ s. d. To Balance from previous year .. .. 323 5 2 By Net profit for 1925-26 .. .. .. 936 4 3 Accumulated profit .. .. .. 612 19 1 £936 4 3 £936 4 3 Note. —A temporary charge for interest on capital, for which no parliamentary appropriation is held, has been included. TIMBER-SUPPLY AND SAWMILLS (PUBLIC WORKS BUND): WHATORO SAWMILL. Trading and Profit and Loss Account for the Year ended 31st March, 1926. Trading Account. £ s. d. £ s. d. £ s. d. £ s. d. To Stocks, Ist April, 1925 — By Sales of timberRunning stores .. .. 302 4 10 Transfers to Government Logs and timber .. .. 4,407 1 3 works .. .. .. 11,590 18 7 — 4,709 6 1 Cash sales .. .. 2,306 1 0 Milling-expenses .. .. .. .. 3,213 15 4 13,896 ]9 7 Operating stores and supplies .. .. 41 14 2 Timber purchased and delivered .. .. 682 3 3 Logging royalties .. .. .. 2,127 3 8 Cross profit, transferred to Profit and Loss Account .. .. .. .. 3,122 17 .1 £13,896 19 7 £13,896 19 7 Profit and Loss Account. £ s. d. £ s. d. To Salaries .. .. .. •• 404 6 8 By Gross profit brought down .. .. 3,122 17 1 Travelling-expenses, &c. .. .. .. 55 2 9 Interest on capital .. .. ■. 141 5 0 Depreciation on plant and buildings, &c. .. 896 7 1 Net profit for year after providing for interest on capital .. .. .. 1,625 15 7 £3,122 17 1 j £3,122 17 1 Note. —The following charges have been included for which no parliamentary appropriation is held : (a) Interest at 4J per cent, has been temporarily charged on excess of cash advances over recoveries ; (It) depreciation of plant and buildings at Ist April, 1925, has been allowed for.

TIMBER-SUPPLY AND SAWMILLS (PUBLIC WORKS FUND). General Balance-sheet as at 31st March, 1926.

135

Kattkati. Makomako. Whatoro. Total. Liabilities. £ s. d. £ s. d. £ s, d. £ s. d. Treasury Capital Account .. .. 3,965 5 1 3,795 5 3 3,598 2 0 11,358 12 4 Treasury Adjustment Account .. .. •• •• 3,086 17 4 1,262 0 9 .. 4,348 IS 1 Sundry creditors 0 10 0 91 6 5 79 0 0 171 1 5 Accumulated profit .. .. ■ • •• • ■ •• 612 19 1 6,709 16 7 7,322 15 8 7,052 12 5 5,761 11 6 10,387 3 7 23,201 7 6 A ssets. Plant, machinery, and equipment .. .. .. • • 20 8 0 .. 2,963 2 0 2,983 10 0 Buildings and accommodation .. .. .. • • • • • ■ ■ • 635 0 0 635 0 0 Timber rights • • • ■ * • * • • • • • 3,650 0 0 .3,795 5 3 .. 7,445 5 3 Survey and acquisition expenses.. .. . • •• 294 17 1 .. .. 294 17 1 Timber on hand .. •• •• 500 0 0 516 16 8 .. 1,016 16 8 Sundry debtors .. • • • • • • • • • - • ■ 1,449 9 7 37 0 0 1,486 9 7 Rent in advance .. •• •• •• 7 13 5 .. .. 7 13 5 Accumulated loss .. •• •• •• ■■ 2,579 13 11 .. .. 2,579 13 11 Treasury Adjustment Account .. .. .. •• •• •• 6,752 1 7 6,752 1 7 7,052 12 5 5,761 11 6 10,387 3 7 23,201 7 6