H—3s

Cash on hand and in bank .. . . .. 349,668 18 0 Acquisition of other airlines .. .. .. 36,129 19 9 Acquired Assets Value Adjustment Account .. .. 18,532 1 0 Preliminary development and deferred expenses .. 23,155 6 0 Profit and Loss Appropriation Account .. .. 228,675 11 4 £2,317,264 17 6 £2,317,264 17 6 L. M. Isitt, Chairman. D. E. Foley, Treasurer. Wellington, 18th September, 1950. I hereby certify that the Operating Account and the Profit and Loss Appropriation Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.—J. P. Rutherford, Controller and Auditor-General. Approximate Cost of Paper.—Preparation, not given : printing (2,749 copies), £4l.

By Authority: R. E. Owen, Government Printer, Wellington.— 1950.

Price 6d.]

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