Gr.—3

1938. NEW ZEALAND.

EAST COAST NATIVE TRUST LANDS. BALANCE-SHEET AND STATEMENT OF ACCOUNTS FOR THE PERIOD 1st JULY, 1937, TO 30th JUNE, 1938.

Presented to both Houses of the General Assembly in pursuance of Section 40 of the Native Purposes Act, 1931.

EAST COAST NATIVE TRUST LANDS. Balance-sheet as at 30th June, 1938. Liabilities. Assets. Public Trustee — £ s. d. £ s. d. s - • Mortgages .. .. •• 78,200 0 0 Freehold lands .. .. .. •• 360,413 15 4 Interest . . .. .. 1,449 5 0 Mangatu No. 1 .. 3, 10 79,649 5 0 Live-stock on stations .. .. .. 71,180 19 0 Bank of New South Wales— Advances to Natives on account of 0 ~ on 1K « Mortgage .. .. •• 8,108 7 3 rent, farm profits, &c. .. .. .. 8,587 it. 0 Interest accrued .. .. 205 15 0 £ s - 8,314 2 3 Sundry debtors on open account .. 2,940 0 1 Tairawhiti District Maori Land Rent due and accrued .. .. 4,644 310 Board— J 11 Mortgage .. .. •• 8,000 0 0 InvestmentsInterest accrued .. .. 70 0 0 Gisborne Sheep - farmers' Frozen 8,070 0 0 Meat and Mercantile Co., Ltd., State Advances Corporation of New Zealand shares .. .. .. 1, 458 0 0 mortgage.. .. 3,012 3 3 Hawke's Bay Farmers, Ltd., Rates accrued .. •• •• •• 585 19 8 shares .. .. •• 17 10 0 Sundry creditors on open account .. .. 3,255 17 4 Williams and Kettle, Ltd., shares 262 10 0 Amount due to Natives on account of purchase- Common, Shelton, and Co., Ltd., monev, rents, &c 804 2 4 shares 2 8 b Rent due and accrued 4,644 310 G. H. Scales, shares .. .. 15 0 i nAI R Amount at credit of blocks on account of purchase- „ ''' money, &c 6,426 12 8 Inscribed stock .. .. 6,520 19 9 Bad Debts Reserve Account 27,845 2 3 Interest accrued >112 4 ]q i Amount at credit of Posts Suspense Account ..1,785 161 <a,oi4 Balance •• •• •• 338,271 14 11 Office premises— Section .. .. • • 600 16 0 Building .. .. 3, 262 2 7 3,862 18 7 Less depreciation .. . . 67 18 8 3,794 19 11 Office furniture and fittings .. • . 204 0 0 Travelling plant .. .. •• 1,272 0 0 Wool unrealized .. .. •• 4,619 0 0 Produce, &c., unrealized .. .. .. 3,756 19 2 Timber-mill Suspense .. .. .. 4,635 310 Maori housing: Preliminary expenses .. 75 13 6 £482,664 19 7 £482,664 19 7 Auditors' Certificate. We have audited the accounts of the East Coast Native Trust Lands for the year ended 30th June, _ 1938, and our report on the audit of the accounts is contained in letter of even date to the Hon. the Minister of Native Affairs. Clarke, Menzies, Griffin, and Co., Wellington, 20th September, 1938. Public Accountants, Auditors,