G.—lo.

The following is a summary of lands brought under development schemes in the Waikato area proper

1. Waikato (proper).—Summary of Lands under Development.

The details of expenditure are set out in tlie schedules to this statement. The following comments may be made on each scheme :— (a) Waipipi (Te Hakona). At the 31st March, 1932, the development of this block may be said to have been completed, and the milking or trading account to be in full operation. The assets were valued for the purposes of the balance-sheet as follow :— £ s. d. Permanent pasture (272 acres) .. ... .. . . .. 1 849 18 0 Roading .. .. .. .. .. .. '' '16 0 0 Fencing (555 chains) .. .. .. .. . . _ _ 572 io 5 ' Water-supply .. .. .. .. .. ] ] 218 18 11 Buildings : 1 five-roomed house, 4 three-roomed houses, 5 milkingsheds, and 1 implement-shed and outbuildings .. .. 1,309 11 5 Installing electricity for houses and sheds .. .. ~ 111 8 10 3 milking-machines and dairy utensils .. .. .. .. 341 ig j Implements and harness .. .. .. .. . _ 134 16 5 Tools •• •• •• .. .. .. 527 Working-horses (3) .. .. . . .. ~ _ 57 2 6 Stock : 105 cows and heifers, 2 bulls, and 25 heifer calves .. .. 1,122 14 0 • 5,739 19 8 -Less value of calves .. .. .. ~ .. 31 5 0 £5,708 14 8 The trading account from the Ist August, 1930, when milking commenced, to the 31 st March, 1932 showed a production of £1,358 17s. lOd. for butterfat, £56 10s. 3d. for calves and heifers sold, and' £11 19s. 6d. for hay sold. Jhe value of hay and calves in hand was £196 ss. The farm account paid Board interest £537 10s. 4d. from the Ist October, 1930, to March, 1932, and all rates. The excess of income over expenditure was £208 9s. Bd., which went to reduce the capital account. This farm has been placed for the current year on a reduction basis ; it is required after meeting running-expenses to reduce the capital account by £250. Reporting on the position of the scheme at the end of last financial year, the officer in charge of development said, " The Waipipi scheme has now reached the stage when it should be relied upon to procure its own requirements in the maintenance of pastures, fences, buildings, drains, water-supply, and stock." (b) Kaihau (Tahuna). Work in this area was commenced early in February, 1930, when preliminary development work on the Waipipi (Te Hakona) scheme allowed of the release of workers and implements. The same methods were adopted on the latter scheme in regard to the main or Tahuna area as in the case of Waipipi. Gorse and blackberry were rapidly cleared and the ground ploughed, and a cottage was erected for Te Puea and her household. The expenditure up to the 31st March, 1931, was £1,830 13s. 6d., and up to the 31st March, 1932, £4,357 os. 5d., details of which are set out in the schedules to this statement.

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Scheme Arpa Expenditure to Expenditure to ' 31st March, 1931. 31st March, 1932. ... _. A. B. P. £ s. d. i £ s. d. (x) .financed by Maori Land Board — Waipipi (Te Hakona) .. .. .. 282 0 0 4,883 13 4 5,708 14 8 Kaihau (Tahuna) .. .. .. .. 457 1 37 1,830 13 6 4,357 0 5 (11) Financed from the Native Land Settlement Account— Onewhero .. .. .. .. 4,739 312 566 0 0 5,106 4 9 Waahi (Huntly) .. .. .. .. 671 1 32 .. 1,370 0 7 Total ■■ •• 6,150 3 01 7,280 6 10 16,542 0 5