E.—7.

4. CANTERBURY COLLEGE. Visitor. —The Hon. the Minister of Education. Board of Governors. Appointed by His Excellency the Governor-General —-Miss E. A. Chaplin, B.A. ; A. 0. Wilkinson, Esq., B.Com. ; Right Rev. Dr. Campbell West-Watson. Appointed by members of Parliament —E. J. Howard, Esq., M.P.; Colonel the Hon. G. J. Smith, Esq., C.8.E., M.L.C., V.D.; Hon. Sir R. Heaton Rhodes, K.C.V.0., K.8.E., M.L.C. Appointed by graduates—J. H. E. Schroder, Esq., M.A ;J.G. D. Ward, Esq., LL.B.; R. A. Campbell, Esq., B.Se.; A. E, Flower, Esq., M.A., M.Sc.; G. M. L. Lester. Esq., M.A., M.R.C.S., L.R.C.P. ; R. Hepburn, Esq., LL.M., B.Com. Appointed by teachers —C. T. .Aschman, Esq. (Chairman); J. G. Poison, Esq., M.A. ; W. C. Colee, Esq., M.A. Appointed by School Committees —H. 1). Acland, Esq., 8.A.; W. A. Banks, Esq.; W. P. Spencer, Esq. Representatives of the Professorial Board —Professor J. Hight, M.A., Litt.D. (Rector), ex officio; Professor H. G. Denham, M.A., D.Sc. Registrar.—C. C. Kemp, A.R.A.N.Z., F.C.S.N.Z. Staff. Rector. —Professor J. Hight, C.M.G., M.A., Litt.D. Professors. —Classics —L. G. Pocock, M.A. Mathematics —W. Saddler, M.A., D.Sc., 8.A., F.R.S. English Language and Literature —F. Sinclaire, M.A. French and German —C. Malthus, M.A., Litt.D. Chemistry— H. G. Denham, M.A., M.Sc., D.Sc., Ph.D. Engineering—(Electrical) P. H. Powell, M.Sc., M.Eng., M.1.E.E., M.A.I.E.E. ; (Civil) J. E. L. Cull, B.Sc., A.M.1.M.E.; (Mechanical) S. Steele, B.Sc. Biology—E. Percival, B.Sc. History—J. Hight, C.M.G., M.A., Litt.D., F.R.E.S. Physics—C. C. Farr, D.Sc., F.P.S.L., F.N.Z.lnst. Mental and Moral Philosophy—Vacant. Education and Director of Extension Work —J. Shelley, M.A. Economics —A. H. Tocker, M.A. Lecturers, twenty-two.

EXTRACT FROM THE ANNUAL STATEMENT OP THE CHAIRMAN OF THE BOARD OF GOVERNORS. Although to certain of the Council's tenants the year's wool prices brought welcome financial relief and encouragement for the future, others have experienced during the year difficulties that have caused anxiety to them and to the Council. Continued low prices for dairy-produce and unusually adverse climatic conditions, that seriously affected both dairy-farmers and grain-growers, made it impossible for many of them to meet their rent commitments in full. The Council has been compelled, therefore, to give sympathetic consideration to the financial position of a number of its tenants and reductions in rents have been made, payments due have been held over, and relief afforded in other ways. Concessions made, and the large amount of rent outstanding, have greatly reduced the revenue and imposed drastic limitations on expenditure. While it is now possible to make a fairly reliable estimate of the revenue to be derived from endowment lands, the value of outstanding rents remains problematical. As stated in last year's report the significance of the position is evident from the fact that, in 1928, unpaid rents for all endowment lands amounted to £2,460, whereas at the end of 1933 that amount was estimated to have increased to £20,227. This year, however, the amount of rents in arrears has been reduced to £16,580, a decrease due partly to remissions made, and to payments of rents outstanding. Of the total, £16,580, still owing, nearly £12,000 represents the arrears in the College Account as distinct from those on the books of the High Schools, the School of Art, the School of Engineering, the Museum, and the Public Library. No doubt the total amount outstanding will be further reduced, but only undue optimism could hope that the whole will be eventually recovered. The main satisfaction with the present position of the Endowment Income Account is that it has now reached a measure of stability. When many of the present leases were put up to auction competition was so keen because of expanding and profitable markets for primary products that high rentals were offered-—in some cases unduly high —rentals that could be justified only by peak prices. The Council, therefore, has been compelled to readjust rents to bear some relation to the productive capacity of the land and to prices ruling for primary products. Compared with more prosperous times the reductions have meant a considerable decrease in endowment income. During the year the Council was compelled to consider the possibility of retaining the School of Forestry. With great regret the decision was reached that the financial position left no other course open than to suspend the work of the School. When the Minister of Education decided that, for the Dominion, only one School of Forestry was warranted, and that it should be at Canterbury College, the outlook of its success was very encouraging. In addition to an annual Government grant of £1,000 there was a promise of an equal amount that had been allotted to the Auckland School of Forestry would be also available. That expected additional amount was not paid, and eventually official information was received that the annual grant of £1,000 that had been paid for the maintenance of the School at Canterbury College would no longer be made. Had this grant been continued, the School of Forestry could have been carried on, although its scope would have been necessarily restricted. In the circumstances the Council had no option but to suspend the operations of the School, hoping that at some time in the future the value of such an institution would be recognized by the Government and provision made for the resumption of the work that had been so effectively carried out. No reference to the School of Forestry at Canterbury College would be complete without an expression of the Council's appreciation of the unabated zeal and boundless enthusiasm shown by Mr. C. E. Foweraker, Lecturer in Charge, and by Mr. F. E. Hutchinson, Lecturer in Forest Utilization. The success achieved during the School's brief career —and no one can dispute that success —was due entirely to their efforts.

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