8.—13.

Statutory Investment Account — Section 50, (3). From passing of the Act to 31st March, 1902. Dr. Receipts. £ s. d. Ch. Expenditure. £ • s. d. To Proceeds of loans ... .. 2,502,405 5 0 By Temporary advances refunded .. 305,000 0 0 Temporary advances .. .. 305,000 0 0 Investments on mortgage .. .-. 3,035,230 0 0 Repayments by mortgagors .. 666,912 17 6 Sinking Fund investment, Public Public Trustee, refunds .. .. 570,958 10 1 Trustee .. .. ... 666,912 17 6 Temporary investments .. .. 843,333 2 0 Temporary investments .. .. 848,169 19 0 £4,888,609 14 7 £4,855,312 16 6 For the Year ending 31st March, 1902. Dr. Receipts. £ s. d. Cr. Expenditure. £ s. d. To Proceeds of loans .. .. .. 406,333 6 8 By Temporary advances refunded .. 140,000 0 0 Repayments by mortgagors .. 172,268 12 3 Investments on mortgage .. .. 408,445 0 0 Public Trustee, refunds .. .. 147,154 1 3 Sinking Fund investment, Public Trustee.. .. .. .. 172,268 12 3 £725,756 0 2 £720,713 12 3 Investments at 31st March, 1902. £ s. d. By Mortgages .. .. .. 2,368,317 2 6 Temporary investments, Bank of New Zealand Guaranteed Stock .. 4,836 17 0 £2,373,153 19 6 Statement of Arrears—Section 50, (4). £ s. d. | To Amount of arrears of prinoipal .. 1,617 8 7| Amount of arrears of interest .. 7,207 13 5 £8,825 2 0 - I Section 50, (5). Nil. The above is the statutory balance-sheet drawn up as required by the Audit Office under section 50, (l)-(5), of "The Government Advances to Settlers Act, 1894." John McGowan, Superintendent. P. Heyes, f.s.a.a. Eng., Accountant. Examined and found correct, the balances on the 31st March, 1902, being,— Cr. £ s. d. . By Investment Account .. .. .. .. .. .. 33,296 18 1 Suspense Account .. .. .. .. .. .. .. 4,044 2 0 £37,341 0 1 Dr. £ s. d. To Cash .. .. .. .. .. .. .. .. 36,350 8 6 Bills receivable .. .. .. .. .. .. .. 990 11 7 £37,341 0 1 J. K. Waebukton, Controller and Auditor General.

The Superintendent, Government Advances to Settlers Office. Account for Year ending 31st March, 1902. Section 50 of " The Government Advances to Settlers Act, 1894," provides that the accounts for the year shall show the whole receipts and expenditure of the Advances to Settlers Office Account during such year; similarly, the whole receipts and expenditure of the Management Account (including Interest Account). This has not been done, inasmuch as when there have been receipts and expenditure under the same heading the excess of the one side over the other only is shown. Should not the sum voted by Parliament and paid to C. Wagland as compensation be shown as a separate item instead of being included in " Sundries"? The accounts are returned herewith for the necessary alteration. 11th June, 1902 J. H, Fowler, Audit Officer.

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