a—2

6

decrease of 15,814 tons. A comparative statement for the two years is shown below : —

Note. —The difference between the gross and net output is the allowance made for mine consumption and waste. The disposal, inclusive of stock on hand at beginning of year, was as follows :—

The total sales of State coal from the mine for the year amounted to 130,733 tons, value £222,819, as compared with 148,335 tons, value £222,127, for last year, a decrease of 17,602 tons, but an increase in value of £692. The average price realized by the mine on the total sales for the year was £l 14s. 1*05 d., an increase of 4s. l-65d. on last year's average. The sales of coal, &c, through the medium of the depots totalled 87,871 tons, value £213,860, as against 60,912 tons, value £137,910, for last year. The profit at the mines was £13,831, and at the depots, &c, £7,935, making a total of £21,766, out of which £4,552 was applied to Sinking Fund Account, leaving £17,214 to be carried forward. Items from Balance-sheet. 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 amount written oft' for depreciation for the year was . . .. 15,075 The payments for interest totalled .. .. .. .. 9,177 The payments for sea carriage of coal amounted to . . .. 69,112 The cost of railway haulage amounted to . . .. 21,064 The total wages paid for coal-winning was . . . . . . 77,793 The amount paid for management and ..office salaries (Head Office and mines) totalled . . . . . . . . .. 4,786 The gross capital expenditure on the whole undertaking to the 31st March last was .. .. .. .. .. .. 514,078 The total depreciation written off to date (equal to 51 per cent, on the gross capital expenditure) amounts to . . . . 262,231 The debenture and loan.capital stands at .. .. .. 227,601 The net profits of the State Coal-mines Account from inception to the 31st March, 1922 .. .. .. .. .. ..93,762 The net profit for the year ended 31st March, 1922, was . . .. 21,766 The sinking fund is in credit . . . . . . .. . . 24,580 General reserve stands at . . . . . . . . . . 51,467 The amount at credit of Profit and Loss is .. . . . . 17,214 The cash in hand and in the Public Account at the 31st March last was (last year £18,293) .. .. .. .. .. 32,971 The present net book value of permanent or fixed assets is . . 243,984 TABLES AND REPORTS. The usual statistical tables and departmental reports are appended.

Mine. Output in Tons, 1921-22. Gross. Net. Output in Tons, 1920-21. Gross. Not. Liverpool 137,908 133,636 153,722 149,054

Supplied to Soreened. Unscreened. Small. Totals. Tons. 3,254 i Depots ... Railways Other Government Departments Shipping companies Gas companies Other consumers ... Tons. 9,563 607 2,817 234 1,308 2,379 Tons. 5,354 8,874 1,742 30,874 38,231 5,308 311 2,742 17,135 Tons. 18,171 9,481 4,870 33,850 56,674 7,687 Totals ... 16,908 90,383 23,442 130,733