8.—6.

Table No. 11. Statement showing how Accumulated Surpluses have been applied. £ £ By Transfers to— £ £ To Accumulated surpluses at 31st March, 1932 .. 30,395,817 Discharged Soldiers Settlement Account— Less— 1920-21 .. .. .. .. 13,330,000 Ordinary revenue— 1921-22 .. .. .. .. 170,000 To balance revenue and expenditure— £ 13,500,000 1921-22 .. .. 279,831 Less— 1928-29 .. .. 577,252 Written off on account £ 1930-31 .. .. 1,639,111 of revaluations .. 2,650,000 1931-32 .. .. 278,601* Transferred to Ordinary 2,774,795 Revenue Account, Written off or retransferred to Ordinary 1931-32 .. 350,000 Revenue Account, as per contra— 3 000 000 Discharged Soldiers Settle- 10 500 000 ment Loans Act 1920 De- £ Discharged Soldiers Settlement Loans Act preciation Fund Account 200,000 1920 Depreciation Fund Account— Discharged Soldiers Settle- 1920-21 .. .. .. .. 50,000 ment Account.. .. 3,000,000 1921-22 .. .. .. .. 50^000 Reserve Fund Account .. 636,076 1922-23 .. .. .. 50 000 3.836,076 1923-24 .. .. .. .. 50^000 6,610,871 200,000 Less— Transferred to Ordinary Revenue Account, 1931-32 .. .. 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 Account— For purchase of securities, 1920-21 .. 1,200,000 For redemption of loan, 1922-23 .. 800,000 2,000,000 Less— Transferred to Ordinary Revenue Account, £ 1931-32 .. .. 550,000 Net loss on realization of securities .. 86,076 636,076 1,363,924 Loans redemption— 1921-22 .. .. . . . . 560,011 1922-23 .. .. .. .. 2,337,360 1923-24 .. .. .. .. 1,367.341 1924-25 .. .. .. .. 1,052,130 1925-26 .. .. .. .. 566,161f 1926-27 .. .. .. .. 588,868{ 1927-28 .... .. .. 95,980 1928-29 .. .. .. .. 50 6,567,901 Bank of New Zealand Shares Account — . 1926-27 .. .. .. .. 808,594 1927-28 .. .. .. .. 117,187 1928-29 .. .. .. .. 58,594 984,375 Education Loans Account, 1923-24 .. .. 100,000 Subsidies for relief of unemployment .. .. 531,415 Assistance towards earthquake services .. .. 33,226 Advance to State Forests Account .. .. 45,000 Advance to Rural Intermediate Credit Board .. .. .. .. .. 400,000 Advance to Westport Harbour Account .. .. 5,000 Charges and expenses of renewing loans .. .. 4,105 £23,784,946 £23,784,946

* Total deficit £2,140,819, balance of £1,862,218 met out of proceeds of part of £3,030,000 Revenue Treasury Hills outstanding at 31st March, 1932. f Includes £151,824 of reparation-moneys received from Germany. t Includes £73,710 reparation-moneys received from Germany.

ii—B. 6.

IX