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STATEMENT No. I— continued General Balance-sheet as at 31st March, 1948 Liabilities £ Assets £ Sundry creditors : General (including unpaid wages) .. 1,262,389 Sawmills, bush areas, and stocks of timber .. .. 89,439 Collections for refund .. .. .. .. 93,618 Stores and materials on hand—• £ Items to be written off on receipt of parliamentary authority 5,833 Stores Branch .. .. .. .. 3,855,103 Renewals, Depreciation and Equalization Reserve Accounts Subsidiary services .. .. .. 54,633 as per Statement No. 13 .. .. .. .. 5,766,825 3,909,736 Sick Benefit Fund .. .. .. .. .. 634 Advance to capital .. .. .. .. .. 38,013 Sundry assets: Subsidiary services .. .. 55,212 Work in progress, sundry debtors, and debit balances .. 218,901 Accrued interest on investments .. .. .. 7,185 Outstanding at stations .. .. .. .. 850, 296 Working Railways investments .. .. .. 800,000 Cash in Working Railways Account .. .. .. 1,160 ,517 £7,129,299 £7,129,299 F. H. McAuley, A.R.A.N.Z., Chief Accountant. I hereby certify that the Balance-sheet and accompanying accounts have been duly examined and compared with the relative books and documents submitted for audit, and correctly set out the position as disclosed thereby, subject to the above departmental note.—J. P. Rutherford, Controller and Auditor-General.

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