B.—l [PT. IV, SUP.].

KAURI-GUM INDUSTRY ACCOUNT. Receipts and Payments Account for Year ended 31st March, 1928. Payments. £ s. d. Receipts. £ s. d. By Wages .. .. .. .. .. 617 1 5 To Cash in Public Account, Ist April, 1927 .. 2,365 2 6 Rent .. .. .. .. .. 625 0 0 Sales of gum .. .. . •• 3,161 11 7 Insurance .. .. .. .. 161 15 4 Repayment of advances on consignments of gum 114 15' 5 Freight .. .. .. .. .. 18 19 2 Miscellaneous .. .. .. .. 0 3 1 General expenses .. .. .. .. 53 14 4 Interest on investments .. .. .. 106 14 6 Repayment of portion of advances from Consolidated Fund .. .. .. .. 4,200 0 0 Cash in Public Account at 31st March, 1928 .. 71 16 10 £5,748 7 1 £5,748 7 1 Trading Account for Year ended 31st March, 1928. £ s. d. £ s. d. To Gum on hand, Ist April, 1927 .. .. 53,152 17 0 By Sales of gum .. .. .. .. 3,161 11 7 GuA on hand, 31st March, 1928, at valuation.. 29,362 6 8 Balance —Gross loss to Profit and Loss Account 20,628 18 9 £53,152 17 0 £53,152 17 0 Profit and Loss Account for Year ended 31st March, 1928. £ s. d. j £ s. d. To Trading Account—Gross loss for year .. 20,628 18 9 By Interest on investments .. .. .. 106 14 6 Wages .... .. .. .. 447 3 3 ; Interest on investments in Public Debt RedempRent .. .. .. .. .. 500 0 0 tion Account .. .. .. .. 28 7 7 Insurance .. .. .. .. 161 15 4 ' Miscellaneous .. .. .. .. 0 3 0 Freight .. .. .. .. .. 15 10 0 I Balance —Net loss for year carried forward .. 24,783 15 8 General expenses .. .. .. .. 48 0 4 Depreciation .. .. .. .. 45 3 1 Interest on debentures .. .. .. 3,072 10 0 £24,919 0 9 £24,919 0 9 £ s. d. £ s. d. To Balance forward from previous year .. .. 23,237 12 1 By Adjustment previous year's loss .. .. 91 15 7 Balance brought down .. .. .. 24,783 15 8 Balance —Accumulated loss to 31st March, 1928 47,929 12 2 £48,021 7 9 £48,021 7 9 Balance-sheet as at 31st March, 1928. Liabilities. £ s. d. Assets. £ s. d. Loan Account—Debentures issued .. .. 75,000 0 0 Land at face-works, &c. ; buildings, &c. .. .. 5,029 0 1 Crown Lands Account .. .. .. 500 0 0 Vacuum-tank, &c. .. .. .. .. 2,900 610 Consolidated Fund — Plant and store fittings .. .. .. 135 11 11 For advances towards purchase of £ s. d. Tools at Auckland and depots .. .. .. 26 0 6 gum .. .. .. 800 0 0 Live and dead stock .. .. .. .. 312 9 For interest paid on debentures .. 9,495 7 8 Furniture and office fittings .. .. .. 71 6 9 10,295 7 8 Gum on hand .. .. .. .. 29,362 6 8 Interest accrued but not due on debentures .. 1,262 13 5 Sacks and gum-cases on hand .. .. .. 283 13 6 Sundry creditors for — £ s. d. Gum on consignment .. .. .. .. 782 17 2 Rent .. .. .. .. 125 0 0 Advances on gum .. .. .. .. 222 0 0 Gum-purchases.. .. .. 18 5 2 Sundry debtors — £ s. d. Orders issued to sundry consignors 30 12 0 Miscellaneous .. .. .. 64 2 8 Miscellaneous .. .. .. 185 1 5 Kauri-gum Control Board .. 299 15 3 358 18 7 — 363 17 11 Reserve Account .. .. .. . . 617 13 10 Insurance premiums paid in advance .. .. 87 3 5 Investment in Public Debt Redemption Fund .. 737 17 0 Profit and Loss Account .. .. .. 47,929 12 2 Cash in Public Account .. .. .. 71 16 10 £88,034 13 6 £88,034 13 6 J. B. Thompson, Under-Secretary for Lands. J. H. O'Donnell, Controller of Accounts. I hereby certify that the statements of Receipts and Payments, Trading, and Profit and Loss Accounts, 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. The following comments are appended : — 1. The value of stocks on hand has been accepted on the certificate of the Secretary of the Kauri-gum Control Board. 2. Interest on the investment in the Public Debt Redemption Fund has been compounded whereas there is no statutory provision therefor. G. F. C. Campbell, Controller and Auditor-General.

7 —B. 1 [PT. IV, SUP.].

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