C—2a

14

Remarks on the State Coal-mines Accounts foe the Year ended 31st March, 1916. The total capital expenditure on State Coal-mines Account to the 31st March last was £344,664 16s. Of this amount £175,568 18s. 6d. has been written off in depreciation, equal to 5093 per cent. The railway has cost to date under review £255,056, making a grand total expenditure in connection with the mines of £599,721. The payments to the Railway Department from the State Coalmines, Greymouth, for haulage inception totalled £201,126 to the 31st March last. This represents 78-85 per cent, on the cost of the railway.* The amount expended on the Liverpool Colliery to the above date was £168,220, the additional amount for the year being £8,218, as against £16,400 for previous year. The total tonnage and value of sales from the mines and depots to the 31st March last are as follows :— Tons. £ s. d. Point Elizabeth Colliery .. .. .. 1,957,756 1,609,400J17 11 Liverpool Colliery .. .. .. .. 216,535 187,885 14 7 Beddonville Colliery .. .. .. 520,848 366,380 9 7 Grand total output sales .. .. 2,695,139 £2,163,667 2 1 Wellington Depot .. .. .. .. 290,948 371,090 2 5 Christchurch Depot .. .. .. 255,103 313,900 8 2 Wanganui Depot .. .. .. .. 61,048 98,398 13 11 Dunedin Depot .. .. .. .. 55,923 72,759 6 1 Grand total depot sales .. .. 663,022 £856,148 10 7 Point Elizabeth Qolliery. —The sales increased at this mine by 8,916 tons, with a value of £7,144. The cost of production, including royalty and special rate, was 7s. 0-06 d., or Is. 0-55 d. per ton less than last year. The cost of trading was Bs. 3-74 d. per ton, 8-79 d. lower than last year. Of this amount interest and depreciation account for Is. 7-62 d. per ton. The sales averaged 16s. 7-88 d., or 0-58 d. per ton less than in the previous year. Liverpool Colliery.- —A substantial increase in sales took place here —viz., 31,386 tons, with a value of £10,877. This mine is in full working-order now, and a further increase may be looked for in the coming year. The cost of production was, including special rate, 7s. 5'54d., or 4-13 d. per ton less than last year. The cost of trading was 11s. 0-78 d. ,or Is. 6-24 d. per ton lower than last year, and of this amount depreciation, interest, and loan charge account for 2s. 7-01 d., less by 7-23 d. per ton than in the previous year. The average price obtained was 16s. 9-60 d. per ton, Is. 3-66 d. lower than' last year. The loss equals Is. 9-02 d. per ton. Wellington Depot.- -The sales at this place increased by 14,882 tons, valued at £10,487. The total cost of trading was 4s. 9-73d.,0r 11-04 d. per ton less than last 3 r ear, due to larger quantities being p handled. The average price realized was 21s. 9-69 d., short by 2s. 9-40 d. per ton on last year's figures : this is due to increased small-coal trade. Chrislchurch Depotr —There was an increase in sales here on the past year of 5,638 tons, and value £7,308, mainly due to contracts. The cost of trading was 6s. 5-06 d., or l-56d. per ton in excess of previous year. The average price obtained was 255. 6-69 d., 0-74 d. more per ton than last year. Wanganui Depot. —A decrease in sales resulted at this depot of 112 tons and a value of £830. The difference between tonnage and value appears peculiar on the face of it, but is explained by the heavy falling-ofi in household coal as against increased sales of small coal. The cost of trading was Bs. 9'27d., less by 6-36 d. per ton than last year, and the average price obtained 31s. 11-24 d. per ton, Is. 9-06 d. short of previous year. The loss amounts to 11-81 d. per ton. Dunedin Depot. —An increase of 1,032 tons, with a value of £782, took place here. The cost of trading was 6s. l-35d. per ton, being 8-92 d. less than last year; and the average price obtained was 245. l-44d. per ton, or 11-95 d. less than previous year. 3rd July, 1916. L. H. Eilkrs, Accountant.