H.—3o.

PRIMARY PRODUCTS MARKETING DEPARTMENT—continued. DAIRY-PRODUCE EXPORT DlVlSlON—continued. Dairy Industry Account (Income and Expenditure), Period Ist August, 1937, to 31st July, 1938. Dr- £ Cr. £ £ Balance (estimated surplus, Dairy Industry Account, Estimated surplus, Creamery Butter Account .. .. 443,398 1937-38 season) .. .. .. .. 555,185 Estimated surplus, Cheese Account .. .. 100,447 Plus estimated surplus, Whey Butter Account 11,340 Estimated surplus, cheese and whey butter .. 111,787 £555,185 £555,185 Balance-sheet as at 31st July, 1938. Liabilities. Assets. £ £ £ £ Overdraft, Reserve Bank of New Zealand 3,637,525 Sundry debtors for produce and amounts Less balance at Bank of England and accrued due .. .. .. .. 642 868 Bank of New Zealand, London .. 11,186 Stocks— 3,626,339 Produce .. .. .. .. 5,224,126 Sundry creditors for accrued charges and Advertising-material and sundries .. 4,628 sundry credit balances .. .. .. 1,967,656 5,228,754 Dairy Industry Account (estimated surplus, Office and departmental equipment .. .. ' 5,'076 1937-38 season) .. .. .. .. 555,185 Dairy Industry Account (deficit, 1936-37 season) .. .. .. .. .. 272,482 £6,149,180 £6,149,180 (Note.—ln order that the accounts should cover all export butter and cheese manufactured up to and including 31st July, 1938, the quantities in store in New Zealand at that date are included. Ownership of this produce passes to the Crown, in terms of section 18 of the Primary Products Marketing Act, 1936, when it is placed on board ship for export from New Zealand.) G. A. Duncan, Director, Dairy-produce Export Division. I hereby certify that the Purchase and Sale Accounts, the Administration and General Expenses Account, and the Dairy Industry Account (Income and Expenditure), together with the Balance-sheet as at 31st July, 1938, have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby, subject to the departmental note enfaeed thereon. —J. H. Fowler, Controller and Auditor-General.

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