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high educational value to the students, and at the same time are most interesting and instructive to visitors to the College. The farm slock has maintained its high level of merit : as an evidence of this 1 append a list of the prizes gained by the College stock at the Canterbury Agricultural and Pastoral Association's November Show: 1 championship, 1 reserve championship, 12 first prizes, 16 second prizes, ••5 third prizes, 12 V.H.C. and H.C. tickets. The farm, with its crops and stock, was inspected by a large gathering of Canterbury farmers, invited to the College in the middle of December, and the opinion was generally expressed that the College was fulfilling its object, in that it was teaching the students the principles of scientific agriculture, and showing how these could be applied to a farm on a commercial basis. I have, &c., R. E. Alexander, Director. The Hon. the Minister of Education, Wellington. ACCOUNTS AND BALANCE-SHEET. Statement of Receipts and Expenditure for the Year ending 31st December, 1909. General Account. Receipts. £ s. d. Expenditure. £ s. d. Balance, 31st December, 1908 .. .. 624 211 Salaries of staff .. .. .. 1,596 11 8 Interest on oapital .. .. .. 1,203 10 3 Maintenance of students and staff .. 1,812 12 0 Rent of reserves .. .. .. 2,151 4 1 Farm wages (including £250, part of Sales of farm-produce— Director's salary) .. .. .. 1,023 13 3 Wool .. .. .. 1,009 19 11 Purchases of live-stock— Dairy .. .. .. .. 140 2 9 Sheep .. .. .. 1,280 1 4 Wheat • .. .. .. .. 1,029 5 2 Horses .. .. .. .. 332 11 3 Peas .. .. .. .. 3 11 0 Cattle .. .. .. .. 175 7 10 Oats, &c. .. .. .. .. 38 13 10 Pigs .. .. .. .. 3 15 2 Sales of live-stock— Trade accounts (including freights, sacks, Sheep .. .. .. 1,486 4 6 binder-twine, paint, oil, &o.) .. .. 405 12 6 Cattle .. .. .. .. 230 14 0 Manures .. .. .. 407 13 9 Pigs .. .. .. 155 7 2 Seeds .. .. .. .. 250 17 3 Students'fees .. .. .. .. 1,763 14 6 Implements—Purchases and repairs .. 414 14 7 Maintenance of students and staff (includ- Laboratories—Chemicals and drugs, &o. .. 107 15 2 ing refunds for board of farm employees) 79 0 4 Contingencies (College) — Expenses of Trade accounts—Sales of sacks, poultry, &c. 49 16 9 Director and Staff, &c. .. .. 176 7 8 Laboratories—Refunds and veterinary fees 42 6 0 Orohard, grounds, and plantations—Wages, Contingencies (farm) —Show prizes .. 39 9 9 &o. .. .. .. .. .. 136 12 9 Stationery, exchange on cheques, telephone Buildings—Repairs .. .. .. 249 14 8 charges, &c. .. .. .. .. 4011 Rates —Local and water .. .. 94 15 4 Students' books-Sales to students .. 29 13 10 Insurance (College) — Buildings, and acContingenciea (College)— Refunds .. 3 910 countant's guarantee .. .. .. 27 4 8 Poultry competition—Sales of eggs .. 11l 11 3 Insuranoe (farm) — Buildings, maohinery, Seeds—Refund.. .. .. .. 2 8 6 &c, and employers'liability .. .. 28 15 2 Prizes and certificates—Donation .. 5 5 0 Contingencies (farm) —Farmers' luncheon, Permanent improvements — Refund on oxpenses at shows, sales, &c. .. .. 68 11 2 pump .. .. .. .. 35 0 0 Farm fuel—Coal for engine .. .. 31 0 9 Printing and advertising—Refund .. 0 10 0 Permanent improvements — Labour and material for baths, implement-shed, &o. 319 5 0 Stationery, stamps, telegrams, rent, mailbag and telephone, &o. .. .. 84 4 2 Library—Books and periodicals .. .. 40 3 4 Students' books —Purohases of books, &c. 39 0 11 Workshops—Wages and material .. 151 2 9 Students' travelling-expenses .. .. 64 3 3 Travelling-expenses of Board of Governors 32 0 0 Printing and advertising .. .. 24 15 3 Contributions to churches and sports .. 15 0 0 Prizes and certificates .. .. .. 24 4 3 Saddlery—Wages and material .. .. 89 19 3 Egg-laying competitions—Wages and feed 110 9 1 Examiners' fees .. .. .. 10 10 0 Scholarships .. .. .. .. 80 0 0 Subdivision of Hakataramea .. .. 516 7 5 Grain (oats) —Railage .. .. .. 0 3 7 Credit balance, 31st December, 1909 .. 13 6 1 £10,239 2 3 £10,239 2 3 Capital Account. £ s. d. i £ s. d. Balance, Ist January, 1909 .. ..25,500 3 8 Payment for McLean's land at Burnham 3,544 4 0 Payment by D. O'Brien for excess acreage 21 12 6 Payment;to McCrostiefor land at Burnham 8,267 8 9 Refund for overcharge on Hakataramea .. 15 16 0 ' Balance, 31st December, 1909 .. .. 13,700 7 5 i £25,527 16 2 j £25,527 16 2 Investment Account. £ s. d. I £ s. d. Refund of deposit ~ .. .. 2,500 00 | Balance, Ist January, 1909 .. .. 2,500 0 0

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