8.—15 a

6

The sales for the period 1895-1901 (including stock) total £685,282, as follows :— Deficiency on Book-cost (including Book cost. Realisation Expenses, &c). bales of properties finally realised £ £ £ 1895-1901 (includingstock) ... 387,163 180,502 567,665 Properties partially realised, 1895--1901 ... 298,119 £685,282 The localities of the sales are as follows :— Estates. Farms. _ Town Suburban , . , . Sections. Sections. £ Auckland ... ... 5 128 571 216 . 216 848 Canterbury ... ... 3 66 18 63 ... 222,064 Hawke's Bay ... 1 ... 9 26 022 Otago 2 9 565 112 '.'.] 67463 Marlborough ... 1 4 64 6 20 014 Wellington ... 17 30 1 ... 88.981 _ __»•._■ , -, 631,092 Proceeds: Beahsation of sundry assets ... ... ... 7 g6B Stock sales on properties finally realised ... ... ... 46*322 £685,282 (5.) Station Properties. I have pleasure in recording further good results for the year, notwithstanding that, in consequence of the serious fall m the wool-market, they have had to provide for reclamations on drafts to the extent of £20,868 against clips unrealised at 31st March, 1900. As a guide to our estimates for March last, I arranged for valuation by our London brokers by cable, hence this season's sales should fully cover drafts. It is especially satisfactory to note that the Waikato properties have since 1895 provided a considerable steadily increasing proportion of the station profits. Comparison of Actual Profits for Six Years, Stations sold during that Period being omitted. flsY March Actual Profit. Percentage Percentage aia. marcn, on Book-oost. on my Valuation. 1896 32,719 .... 2-19 ... 2-51 1897 46,400 ... 3*ll ... 3-92 1898 25,857 ... 1-73 ... 2-24 1899 54,812 ... 3-71 ... 5-02 1900 49,598 ... 3-49 ... 503 1901 81,710 ... 5-70 ... 8-47 48,516 3-32 453 The estates sold during the year comprise :— The whole of Awamate ... ... ... ... ... 2 365 acres. Horahora ... ... ... ... ... 8.680 „ The balance of Manawaru ... ... ... Ig9 „ Eskbank ... ... ... ... ... 1 457 „ Kakare ... ... ... ... ... 2,148 Parts of Lockerbie ... ... ..,'. ... ' „ Matamata ... ... ... ... 3 263 Bangiuru ... ... ... ... [" 2*853 "„ „ Waihaorunga ... ... ... ... \ 206 „ Fencourt Estates ... ... ... ... 9 919 32,100 acres.

(6.) Comparison of Operations, 1900 with 1901.

Grassing. Oats. Oaten Hay. Year. Rape. Turnips. With Plough. Surfacesown. Bushels j Tons Acres. per Acres. per Acre. : Acre. a a '3 Q be a CD CO 3 pq ab .9 cS 8 O 1st Time.! Eenew " mg. Acres. 2,243 2,941 Acres. 8,895 8,308 Acres. 2,959 1,377 Acres. 111,432 8,901 Acres. 1,677 1,575 ! Chains. Acres. 669 736 1,137 ... 468 ... ~ 736 t 900 .901 762 731 24 19 1,912 i,30i: [ 1* 1* Acres. 1,235 4,430 .ncrease decrease 698 587 1,582 2',531 102 31 5 611 "i 3,195