B— 6.

Table No. 11. Statement showing how Accumulated Surpluses have been applied. To Accumulated surpluses £ , -By Transfers to — £ £ at 31st March, 1927 30,067,762 Discharged Soldiers Settlement Surplus for financial Account —• year 1927 28 .. 179,076 1920-21 .. .. 13,330,000 1921-22 .. 170,000 13,500,000 Discharged Soldiers Settlement 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 1923-24 .. .. 1,000,000 1924-25 .. .. 1,000,000 1925-26 .. 500,000 1927-28 .. .. 250,000 3,250,000 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 1922-23 .. .. 2,337,360 1923-24 .. .. 1,367,341 1924-25 .. .. 1,052,130 1925-26 .. .. 566,161* 1926-27 .. .. 588,868f 1927-28 .. .. 95,979 6,567,850 Bank of New Zealand Shares Account— 1926-27 .. .. .. .. 808,594 1927-28 .. .. .. .. 117,188 Education Loans Account, 1923-24 . . 100,000 Subsidies for relief of unemployment .. 75,106 Advance to State Forests Account .. 45,000 Charges and expenses of renewing loans.. 1,037 Ordinary revenue— To balance revenue and expenditure, 1921-22 .. .. .. 279,831 Investments at 31st March, 1928 .. 1,207,801 Temporary transfers to other accounts .. 110,000 Balance (cash and imprests) at 31st March, 1928 .. .. 1,984,431 £30.246,838 ! £30,246,838 * Includes £151.824 of reparation-moneys received from Germany. f Includes £73,710 of reparationmoneys received from Germany.

VIII