a—3.

12

Whakarewarewa Plantation, from 1898 to 31st March, 1920 — twenty-two Tears. Dr. £ s. d. £ s. d. Or. £ s. d. £ s. tl. Actual expenditure .. 75,773 3 5 Actual receipts— Interest, compound, at 4 Sale of forest £ s, d. percent. .. .. 31,576 0 1 material 2,271 7 3 107,349 3 6 Sundries .. 342 5 6 Trees from nursery .. 23,291 9 2 - 2,613 12 9 Interest, compound, at 4 Interest, compound, at 4 percent. .. .. 10,387 14 11 percent. .. .. 216 13 2 33,679 4 1 2,830 5 11 Land rental: Accumulated rental com- Present value of — pounded for twenty-two years at 4 per Buildings, fencing, &o, . . 3,201 I 3 cent, of cost .. .. .. 3,398 17 3 Departmental property . . 112 12 It 3,313 14 2 Balance, being debt on 7,966 acres at average of £17 7s. 2d. per acre .. 138,283 4 9 £144,427 4 10 £144,427 4 10 Waiotapu Plantation, from 1899 to 81st March, 1920 — Twenty-one Years. Dr. £ s. d. £ s. d. j Or. £ s. d. £ s. tl. Actual expenditure .. 09,692 18 4 Actual receipts— Interest, compound, at 4 Sale of forest £ s. d. percent. .. .. 29,162 5 11 material ..497 13 0 98,855 4 3 Sundries .. 39 12 4 Trees from nursery .. 31,698 12 3 537 5 4 Interest, compound, at 4 Interest, compound, at 4 per cent. .. .. 13,046 411 per cent. .. .. 44 6 9 44,744 17 2 581 12 I Land rental : Accumulated rental com- Present value of — pounded for twenty-one years at 4 per Buildings, fencing, &c... 4,865 15 5 cent, of cost. .. .. .. 2,006 17 8 Departmental property 379 5 5 5,245 0 10 Balance, being debt on 9,206 acres at average of £15 ss. per acre .. .. 140,380 0 2 £146,206 19 1 £146,206 19 1 Kaingaroa Plains Plantation, from 1911 to 31st March, 1920~-Niue Years. Dr. £ s. d. £ s. d. Or. £ s. d. £ s. d. Actual expenditure .. 27,951 14 2 Actual receipts—Sundries.. 131 14 0 Interest, compound, at 4 Interest, compound, at 4 per per cent. .. .. 5,287 17 11 cent. .. .. .. 24 18 10 33,239 12 1 — 156 12 10 Trees from nursery .. 20,787 1 6 Present value of— Interest, compound, at 4 Buildings, fencing, &c. . . 5,752 3 2 percent. .. .. 2,438 L 5 5 Departmental property .. 1,128 11 8 23,225 16 II I 6,880 14 10 Land rental : Accumulated rental com- i Balance, being debt on 6,605 acres at pounded for nine years at 4 per cent. average of £7 18s. lid. per acre .. 52,957 19 2 of cost .. .. .. .. 3,529 17 10 £59,995 6 10 £59,995 6 10 Kaingaroa West Plantation, from 1919 to 31st March, 1920 — One Year. Dr. £ s. d. £ s. d. | Or. £ s. d. £ s. d. Actual expenditure .. 1,703 3 8 ' Present value of — Interest, compound, at 4 per Buildings, fencing, &o, .. 587 I 5 cent. .. .. .. 68 2 7 Departmental property .. 241 0 1 1,771 6 3 828 7 0 Balance .. .. 942 18 9 £1,771 0 3 £1,771 0 3 Puhipuhi Plantation, from 190J/. to 81st March, 1920 — Sixteen Years. Dr. £ s. d. £ s. d. Or. £ s. d. £ s. d Actual expenditure .. 15,107 10 1 Actual receipts—Sundries .. 18 0 0 Interest, compound, at 4 Interest, compound, at 4 per per cent. .. .. 0,943 0 3 cent. .. .. .. 19 5 22,050 16 4 I!) 9 5 Trees from nursery .. 3,739 4 8 Present value of — Interest, compound, at 4 Buildings, fencing, &c. .. 278 15 0 per cent. .. .. 1,494 7 7 Departmental property .. 49 14 3 5,233 12 3 328 9 3 Land rental: Accumulated rental com- Balance, being debt on 1,200 acres at pounded for sixteen years at 4 per cent. average of £22 13s. Bd. per acre .. 27,221 10 6 of cost .. .. .. .. 285 0 7 £27,569 9 2 £27,569 9 2 Rotorua Nursery. The trees raised from seed during the year number 8,756,600, thus making a total of 71,790,000 trees raised since the nursery was started. The year's output totalled 2,628,350 trees, while the output to date is 61,949,594. At the 31st March the trees in the nursery totalled 9,840,600. Details of trees are shown in the schedules appended.