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his lease. So soon as he was released from the asylum a surrender of his lease was obtained, and the reserve relet to a good tenant. _ _ . In my report of last year I prognosticated that upon six reserves which fell m during 1884 being relet, there would be a gain to the rental of about £1,400 per annum ; the actual gain from the reletting of these reserves has been £1,362 19s. lOd. per annum. On Ist May, 1885, the leases of three reserves fall in, which will be re-let, and six reserves run into their second period of seven years on Ist November, 1885, upon which an increased rental becomes payable; from these two sources I expect an increase to the rental of fully £400 per annum. The Hon. the Minister of Education. H. E. Webb, Chairman.

General Statement of Receipts and Expenditure for the Year ending 31st December, 1884. Receipts.

Expenditure.

Assets.

Primary Education" Estate. Total. £ s. d. £ s. d. 166 8 10 'o Balance brought down from 31st December, 1883 Arrears due 1st November, 1883, from last account ... Less written off as irrecoverable (see report) 1,183 7 8 189 10 0 On account of half-year's rent, payable in advance on the 1st May, 1884 Same payable on the 1st November, 1884... Other receipts—■ Bank of New Zealand—Interest on £100 placed on deposit for one year (see Statement of 31st December, 1883) Geraldine Eoad Board, payment for two acres of land, at £7 per acre, taken under statutory powers for gravel pit out of Eeserve No. 1191 993 17 8 5,792 1 7 5,866 17 10 11,658 19 5 6 0 0 14 0 0 Total receipts 12,839 5 11

!y Office expenses and management — Salary of steward Stationery and postage Expenses of leasing— Advertising and printing Christchurch Survey Office, subdivision of reserves... Law costs Special expenditure— Contribution towards bringing water-race through Eeserve No. 1115 ... Payments to Education Boards— North Canterbury South Canterbury £ s. d. & s. 540 6 0 0 4 4 546 4 4 37 11 4 87 18 11 10 12 10 136 3 1 6 0 0 9,672 18 2,327 2 0 0 12,000 0 0 Balance in Bank of New Zealand, 31st December, 1884— At credit of current account... On fixed deposit... 50 18 100 0 6 0 150 18 6 Total expenditure ... 12,839 5 11

iash in bank as above ients payable 1st May, 1884 : proportion uncollected tents payable 1st November, 1884 : proportion uncollected £ s. a. 158 10 9 7 12 3 552 6 8 £ s. d. 718 9 8 Total assets 718 9 8