0.—2

8

NEW JAMES COLLIERY. Development works have been carried out during the year, and the Public Works Department has for some time past been carrying out railway-formation works. If the construction of the railway is completed within eighteen months the Mines Department will then be in a position to win coal from this colliery. MacDONALD STATE MINE. Arrangements have been made to purchase the plant required for running this colliery. Roadworks have also been, and are still being, carried out to give access thereto. The railway-line has been finally located, and the Public Works Department will at the earliest possible date make a commencement with the construction works. [TE MS FE() M BA LANCE-8118 ET. The following items taken from the balance-sheet will prove of interest as indicating the more important items of expenditure, and for reference in respect to the position of Capital Account, reserve funds, and other accounts shown therein :— £ The total amount paid as war bonus was .. .. .. .. 15,574 The amount written off for depreciation for the year was .. .. 11,472 The payments for interest totalled .. .. .. .. .. 8,933 The payments for sea carriage of coal amounted to .. .. .. 54.844 The cost of railway haulage amounted to .. .. .. 16.862 The total wages paid for coal-winning was .. .. .. .. 72.162 The amount paid for management and office salaries (Head Office and mines) totalled .. .. .. .. .. .. 3.588 The gross capital expenditure on the whole undertaking to 31 si March last was .. .. .. .. .. .. .. 446.700 The total depreciation written oft' to date (equal to 51-78 per cent, on the gross capital expenditure) amounts to .. .. .. .. 231,340 The debenture and loan capital stands at .. .. .. .. 227,601 The sinking fund is in credit .. .. .. .. .. 13,200 The reserve fund stands at .. .. .. 5,884 The amount at credit of Profit and Loss is (last year £38,650) .. .. 38,670 The cash in hand and in the Public Account at 31st March last was (last year £119,843) .. .. .. .. .. .. 18,000 The present net book value of permanent or fixed assets is .. .. 209.106 TABLES AND REPOBTS. The usual statistical tables and departmental reports are appended.