B.—l [PT. IV], SUP. TO 1941.

LAND FOR SETTLEMENTS ACCOUNT. Revenue Account fob the Year ended 31st March, 1941. Dr. Cr. Expenses of a general nature— £ Revenue of a general nature— £ Interest on capital— Interest on investments— Loans .. .. .. .. .. 401,477 In Public Debt Redemption Fund .. .. 62,235 Capital from proceeds sale of Crown lands.. .. 102,156 In Public Account .. .. .. .. 18,008 Value of Crown lands in estates .. .. .. 8,478 Interest on capital involved in purchases for small-farm Accumulated funds of Cheviot Estate .. .. 11,699 purposes .. .. .. .. .. 1,675 Sundry expenses re loan capital— Revenue derived from estates— Management of securities, &c. .. .. .. 817 Rents .. .. .. .. .. 393,808 Proportion of premium on loan conversions .. 7,423 Interest on sales — Interest payable under seotion 208, Land Act, 1924 .. 453 Land .. .. .. .. .. 21,657 Audit fee .. .. .. .. .. 250 Buildings .. .. .. .. .. 3,379 Expenses referring to estates— Royalties .. .. .. .. .. 202 Capital losses on revaluation, reallotment, &c. .. 176,884 Miscellaneous interest, &c. ~ .. .. 159 Administration charges: Salaries, &c. .. .. 1,107 Land-development revenue— Administration expenses .. .. .. .. 9,566 Rents .. .. .. .. .. 5,670 Rebates .. .. .. .. .. 32,173 Interest on sales, &c. .. .. .. .. 1,017 Remissions of rent, &c. .. .. .. .. 24,403 Interest on advances— Rents, &c., written off .. .. .. .. 3,414 Crown lands .. .. .. .. 9,376 Protection of securities: Repairs, &c. .. .. 519 Settlement lands .. .. .. .. 2,072 Miscellaneous expenses .. .. .. .. 127 Interest earned on sundry blocks farmed by Department 3,480 Expenses chargeable to land-development revenue— Miscellaneous .. .. .. .. .. 45 Administration expenses .. .. .. .. 479 Revenue derived under the Deteriorated Land Act, 1925 : Rebates .. .. .. .. .. 926 Interest on advances .. .. .. .. 269 Remissions of rent, &c. .. .. .. .. 180 Balance: Loss for year carried down .. .. 260,543 Rents, &c., written off .. .. .. .. 411 Compensation for injuries to workmen .. .. 133 Losses on winding up of development operations .. 469 Miscellaneous .. .. .. .. .. 8 Expenses chargeable on revenue derived under the Deteriorated Land Act, 1925— Administration expenses . . .. .. 6 Rebates .......... 14 Remissions of interest .. .. .. .. 19 Interest, &c., written off .. .. .. .. 4 £783,595 £783,595 Balance— £ Brought forward .. .. .. .. 177,551 £ Brought down .. .. .. .. .. 260,543 Balance carried forward : Loss to 31st March, 1941 .. 438,094 £438,094 £438,094 Balance-sheet as at 31st March, 1941. Capital— Liabilities. Assets. Loans— General. £ £ Genebal. £ £ 3 per cent. .. .. .. 215,029 Cash in Public Accounts .. .. 47,235 H per cent. .. .. .. 6,179,282 Investments .. .. .. 1,711,365 3} per cent. .. .. .. 364,150 1,758,600 4 per cent. .. .. .. 4,124,924 Investment in Public Dobt Redemption 4Jpercent. .. .. .. 37,740 Fund .. .. .. .. .. 1,618,101 5 per cent. .. .. .. 110,000 Consolidated Fund : For interest— Funded debt, £4 19s. 5-88 d. per cent. 33,446 On investments in Public Account .. 1,119 Unconverted, 4 per cent. .. 200 On proportion of loan capital .. .183,912 7~Z7 185,031 11,064,771 Unrecouped expenditure, Hutt Valley Crown land included in estates .. 211,940 Land Settlement Account .. .. .. 2 Cheviot Estate Account (see subsidiary Premium on loan conversions : Balance accounts attached) .. .. 299,056 not yet written off .. .. .. 19,706 Sales of Crown land, &c. (inclusive of Losses in Suspense .. .. .. .. 8,709 assets and liabilities shown under Revenue Account: Loss to 31st March, (" Sales, section 20, Land Act, 1924") 3,461,385 _ __ 438,094 Capital transferred from Discharged Soldiers Settlement Account .. 4,789 Land— Estates. Leased .. .. .. .. 9,274,940 15,041,941 Unleased .. .. .. 327,163 Less amount expended in opening up 9,602,103 Crown lands .. .. 194,235 Provisional State forest .. .. .. 3,158 .14,847,706 Buildings and improvements (unsold) .. .. 9,271 Deposits by lessees (section 208, Land Advances on mortgage (section 35, Act, 1924) .. .. .. .. 23,558 Finance Act, 1940) .. .. .. 177 Consolidated Fund : for interest due on— Sales debtors— Loans .. .. .. .. 120,923 Buildings, &c. .. .. .. 85,312 Capital from proceeds sale of Crown Land .. .. .. .. 482,635 land .. .. .. .. 438,202 567,947 Value of Crown land in estate .. 8,478 Plant and machinery .. .. 3,835 Cheviot Estate: Accumulated funds Less depreciation .. .. .. 3,451 transferred .. .. .. 18,567 384 586,170 Loading on Otago University endowment Interest on loans accrued but not due .. .. 98,963 leases — Reserve for transfer from Discharged Capital outstanding .. .. 1,428 Soldiers Settlement Account .. .. 8,191 Interest .. .. .. .. 44 Writings off in Suspense .. .. .. 8,709 — 1,472 Hutt Valley Land Settlement Account (see subsidiary accounts attached) .. .. 20,345 Debtors v . Principal instalments— Estates. Buildings 1,942 Rents and interest charged in advance.. .. 96,797 Sales of land .. .. .. 3,866 Payments in advance: Rents and instal- Section 35, Finance Act, 1940 .. 3 mcnts .. .. .. .. .. 7,857 InterestSundry suspense accounts .. .. .. 524 Buildings .. .. .. 2,162 Sundry creditors: Departmental .. .. 5,174 Sales of land .. .. .. 6,041 Land Development. Section 35, Finance Act, 1940 .. 4 Land set aside (section 8, Land Laws Rent .. ■•, .. •• 99,061 Amendment Act, 1929)— Royalty .. .. .. 89 Crown lands .. .. .. 44,048 Insurances .. .. .. 17 Primary education endowments .. 178 Sundry debtors: Departmental .. 655 —— 44,226 113,840 Carried forward .. .. £15,748,220 Carried forward .. ~ £14,323,595

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