B.—l [Pt. IV].

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NAURU AND OCEAN ISLANDS ACCOUNT. Trading Account for the Year ended 31st March, 1923. Dr. £ s. d. Or. £ s. d. To Purchase of phosphate .. .. 78,678 18 5 By Sales of phosphate .. .. 147,567 15 8 Freight .. .. .. 63,045 11 1 Brokerage .. .. .. 422 1 8 Agent's commission .. .. 2,213 9 4 Administration charges .. .. 1,475 13 5 Insuranco .. .. .. 641 5 0 General expenses.. .. .. 550 9 11 Landing charges .. .. 177 16 6 Net profit on Trading Account .. 1,206 13 8 £147,989 17 4 £147,989 17 4 Interest Account for the Year ended 31st March, 1923. Dr. £ s. d. Cr. £ s. d. To Interest on debentures .. .. 30,000 0 0 By Interest —British Phosphate CommisBalance of interest .. .. 4,763 1 8 sion .. .. .. ... .84,041 0 1 Interest on sundry debts .. .. 722 1 7 £34,763 1 8 £34,763 1 8 Capital Receipts and Payments Account for the Year ended 31st March, 1923. Receipts. £ s. d. Payments. £ s. d. To Balance at Ist April, 1922 .. .. 26,802 19 7 By British Phosphate Commission, as part Legal expenses .. .. .. 157 0 5 working capital.. .. .. 8,000 0 0 Working capital .. .. .. 16,000 0 0 Balance at 31st March, 1923 .. 34,960 0 0 £42,960 OXO £42,960 0 0 Balance-sheet as at 31st March, 1923. Liabilities. Assets. £ s. d. Capital—Debentures Ito 12, issued Ist £ s. d. Share (16 per cent.) Nauru and Ocean December, 1920, under the Finance Islands phosphate rights .. .. 565,040 0 0 Act, 1920, maturing Ist December, Sundry debtors— £ s. d. 1925. Interest 5 per cent., payable On account of interest 27,107 15 6 Ist June and Ist December.. .. 600,000 0 0 On account of trading 26,438 3 2 Sundry creditors .. .. .. 3,533 19 5 53,545 18 8 Interest accrued on debentures .. 9,863 0 0 Cash in Public Account .. .. 16,394 10 1 Trading Account balance at £ s. d. Ist April, 1922 ..1,082 0 1 Add net profit for year .. 1,206 13 8 2,888 13 9 Interest Account balance at Ist April, 1922 .. 9,922 12 3 Add accumulation during year.. .. .. 4,763 1 8 14,685 13 11 Sinking Fund Account .. .. 4,009 1. 8 £634,980 8 9 £634,980 8 9 A. R. Stone, for Director-General, Department of Agriculture. I hereby certify that the Capital Receipts and Payments Account, Trading and Interest Account, and balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.—G. F. C. Campbell, Controller and Auditor-General.