C—3,

28

has been £40, making the total value of free water given £1,094 12s. Bd. The average number of men employed in claims in which water from this race was used was 108. The approximate quantity of gold obtained by the miners who are using water from this supply for the past year is 6,9610z., representing a value of £27,147 18s. Deducting the value of the sales of water from the value of the gold obtained, it leaves an average of £208 6s. 10d. a man per annum, or £4 os. Id. a man per week—about ss. sd. a man per week less than last year. The total cost of the construction of this work up to the end of March last was £41,359 15s. 6d.; and, taking the profits on the working last year to be £2,670 2s. 2d., it gives nearly 6i per cent, on the capital invested. Waimea-Kumara Watee-races. Taking these water-races as one work, as they are under one management, and the Kumara. Eace being dependent, to a certain extent, on its supply from the Waimea Eace —or, at least, from the Kawhaka Creek, from which the supply of the Waimea Eace is derived. In ordinary weather the whole of the water from the Kawhaka would be required for supplying the Waimea Eace if it belonged to any private person ; but the water from the latter race is allowed to flow at different points, when required, into the Kawhaka supply-race, which fills the reservoir at the Loopline Eoad, and consequently keeps up the supply for the Kumara field. Taking these water-races conjointly, the following statement will show the result of working during the last year:—

It will be seen from the above statement that the value of the sales of water last year was £5,635 os. 4d., as against £6,411 os. 3d. for the previous year, thus showing a decrease on the sales of water last year of £775 19s. lid. The expenditure on maintenance was £3,038 6s. lid.,, as against £2,836 17s. 9d. for the former year, thus showing an increase on the cost of maintenance last year of £201 9s. 2d. Deducting the value of the sales of water from the value of the approximate value of gold obtained last year from the claims in which water from this sunply was used, which is set down as 9,4360z., representing a value of £36,800 Bs., this leaves, after deducting the value of the sales of water, £177 Bs. 6d. a man per annum, or £3 Bs. Id. a man per week. The next profit on the working of these races last year was £2,596 13s. sd. The total cost of construction up to the end of March last was £194,893 16s. 10d.; so that the percentage of profit on the total outlay has been very small. It may, however, be interesting to show at a glance the working of these races separately for the ten years ending 31st March last: —

This table shows that there has been a net profit derived from the working of the Waimea Eace during the last ten years of £3,590 12s. 10d., and £47,705 4s. Id. from the Kumara Eace for the same period; but in connection with the working of the latter race there was a considerable loss on maintaining the sludge-channel, which is now maintained by the miners on consideration of the Government granting money for the reconstruction of a portion of the channel at a higher level, so as to enable them to have sufficient dump for tailings.

Month. Sales of Water. Cash received for Sales of Water. Expenditure. Outstanding Number ' Moneys at of , the End of Men emeacli Month. ployed. mate Quantity of Gold obtained Value of Qolrt obtained. 1894. Ipril >tay une uly Uigust .■. • September )ctober November December £ s. d. 558 18 1 550 19 5 597 12 6 584 17 6 611 17 6 ; 493 3 4 285 10 5 473 0 10 488 19 2 £ s. d. 521 8 2 641 10 2 604 3 3 547 18 3 621 0 5 425 2 4 275 16 0 434 2 6 508 9 0 £ s. d. 282 12 0 278 18 11 266 7 10 236 15 7 233 4 8 237 5 5 297 14 9 246 3 1 253 10 2 £ s. d. 199 11 5 170 191 5 8 172 189 8 4 178 177 12 8 180 167 17 9 181 200 17 4 182 j 217 8 6 181 232 10 11 , 180 196 13 1 i 174 Oz. 915 935 990 970 1,005 820 495 800 840 £ s. a. 3,568 10 0 3,646 10 0 3,861 0 0 3,783 0 0 3,919 10 0 3,198 0 0 1,930 10 0 3,120 0 0 3,276 0 0 1895. 365 14 6 247 12 11 376 14 2 401 19 8 153 12 10 414 7 1 295 7 7 192 7 8 217 19 8 616 420 630 armary .. February.. ilarch 183 4 6 182 188 0 2 173 113 11 10 ' 152 2,402 8 0 1,638 0 0 2,457 0 0 -L-l-U J.-1. J-\y J-CiJ Totals and average .. 5,635 0 4 i 5,549 9 8 i 3,038 6 11 17G (average) 9,436 36,800 8 0

Waimea Eace. Kumara Race. Year. Sales of Water. Expenditure on Maintenance. Net Profit. Sales of Water. Expenditure on Maintenance. Net Profit. 1886 1887 1888 1889 1890 1891 1892 1893 1894 1895 £ s. d. 1,790 16 0 1,675 19 i 1,612 11 8 1,416 6 8 1,240 9 7 1,388 17 5 1,121 16 2 1,015 12 3 828 15 8 988 0 7 £ s. a. 1,131 18 1 1,116 10 0 1,027 17 11 860 2 5 795 7 7 933 3 3 784 13 10 858 0 4 919 9 4 1,061 9 4 £ s. d. + 658 17 11 + 559 9 4 + 584 13 4 +556 4 3 + 445 2 0 + 455 14 2 +337 2 4 + 157 11 11 - 90 13 8 - 73 8 9 £ s. a. 9.788 16 8 6,470 14 4 7,169 10 3 6,716 6 10 3,550 4 8 6,665 12 8 6.645 11 0 5.789 0 9 5,582 4 7 4.646 19 9 £ s. a. 1,459 19 5 1,398 18 10 982 12 0 1,024 1 9 1,424 13 3 1,760 4 8 1,584 10 11 1,782 11 0 1,919 8 5 1,976 17 7 £ s. a. 8,328 17 3 5,071 15 6 6,186 18 3 5,692 5 1 2,125 11 5 4,899 8 5 5,061 0 1 4,006 9 9 3,662 16 2 2,670 2 2 Totals 13,079 4 11 9,488 12 1 3,590 12 10 63,025 1 6 15,319 17 5 47,705 4 1