7

E.—6

and finally to £1750. The run is now surrendered altogether by Mr Pogson, though the Council has refused to accept. It is impossible to say what rent may be obtainable in the future , let it be assumed at £1,200.* 2. Burwood and Mararoa This remains at the original rental—£l,3oo —till 1904. 3. Benmore Originally let to Messrs. Campbell for £3,600 a year, relet this year at £3,000 for a fresh lease for eighteen years. 4. Museum Eeserve: Originally let at £916 13s. 4d. per annum, then reduced to £766 13s. 4d. Eelet to Mr Brown this year for ten years at £616 9s. 2d. 5. House in Castle Street Formerly let at £72 a year , now let at £52. Taking these figures it will be seen that the reductions in revenue are as follows Barewood Original rental, £2,925 , reduced to £1,750, difference, £1,175. Benmore Original rental, £3,600; reduced to £3,000, difference, £600. Burwood and Mararoa Original rental, £1,300. Museum Eeserve Original rental, £766 13s. 4d., reduced to £616 9s. 2d.; difference, £150. House in Castle Street Original rental, £72 , reduced to £52 , difference, £20. In all, £1,945. The immediate falling-off during the past year lies in Barewood (unlet), probably £550—that is, assuming it can be relet at £1,200, Benmore, £600, Museum Eeserve, £150 total, £1,300. Against this must be set the margin of income over expenditure last year of about £300, leaving a present deficiency to be provided for of about £1,000, and it is on this estimate that your committee have proceeded, merely noting the fact that the decrease in revenue corresponds somewhat exactly to the decreased price of wool, the income of the University being derived exclusively from pastoral properties. It is quite imperative, as a condition of the continued existence of the University in the present form, that the expenditure be reduced to a point within the limits of the income. Your committee are unable to suggest any means of adding to the income, except by increasing the College fee from £1 Is. to £2 25., which will produce about £200 a year additional income. Expenditure. —The administration of the financial affairs of the University has been in the past economical and careful, and in some respects during later years even parsimonious, and your committee proceed to deal with the question of expenditure on the general principle that, in reorganizing the distribution of the funds, it is desired to cause as little disturbance as possible in the practical teaching work of the University If it were possible to avoid altogether the ceasing to teach subjects which have hitherto been taught, such a result would be most desirable, but, at any rate, your committee think that changes of a radical character should be as far as possible avoided, and where this is impossible the changes should be minimised. The main items of expenditure may be grouped as follows Professors' salaries, £5,400, lecturers' salaries, £1,400, Eegistrar, £250; attendants' salaries, £699, apparatus, £150, miscellaneous, £856 , interest on loans, £900. First, as regards professors' salaries, these come under different groups : — First Group Professors Sale, Shand, Black, Scott, Parker, and Ulrich have life engagements with the University, Professor Shand's salary being paid by the Church Property Trustees, the other professors being paid by the Council. Professors Shand, Black, Sale, and Scott have been provided with houses, and this is in no way part of the original agreement. It is recommended that the sum of £60 should be charged to each of these four professors by way of house-rent, and that sum should be deducted from the salaries paid by agreement. The reduction under this head will amount to £240 per annum. Second Group Professors Gilray and Salmond are paid by the Church Property Trustees, and your committee have no recommendation to make with regard to them, as their salaries do not come within their scope. The most recently appointed professor, Professor F B de M. Gibbons, has no engagement for life with the University, nor does he have any residence provided. Your committee recommend the reduction of his salary by £100. The reductions under the head of " Professors' Salaries " will therefore be £340. Lecturers Your committee recommend that the services of Messrs. Dallas and Williams, as paid lecturers on French and German respectively, be dispensed with. The reduction under this head will be £100.+ Medical Lecturers It is in contemplation to reduce the salaries of the lecturers in the Medical School, as the necessity for making fresh appointments arises. Beductions have already been made, and it is thought that other changes must be effected. There are at present four lecturers at £150 and two at £100 a year J Attendants Your committee recommend the following changes ;— Present Salary. Future Salary. Eeduofcion. £ s. d. £ s. d. £ b. d. Janitor 75 00 70 00 500 Anatomical porter 128 10 0 115 0 0 13 10 0 Physics laboratory assistant 65 00 60 00 500 Chemist's assistant .. 82 00 75 00 700 Taxidermist 198 0 0 175 0 0 23 0 0 Museum janitor . 96 00 88 00 800 Biological laboratory boy 10 0 0 10 0 0 Assistant School Mines 45 00 40 00 500 £699 10 0 £633 0 0 £66 10 0 The reduction under this head will amount to £66 10s.

* The rent actually obtained was £900 per annum for fourteen years from Ist January, 1895. f It was after* wards found that this could not be carried out at the present time. J This has since been done—to £125 and £75 respectively.