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LAND FOR SETTLEMENTS ACCOUNT (DISCHARGED SOLDIERS SETTLEMENT ACCOUNT)— continual. Balance-sheet as at 31st March, 1928. Inabilities. A ssets. Capital Account— £ s. d. £ s. d. Estates — £ s. d. £ s. d. Debenture Account .. 2,111,050 0 0 Leased .. .. 1,658,349 0 10 Crown lands in estates .. 5,741 0 0 Unleased .. .. 242,737 19 2 2,116,791 0 0 1,901,087 0 0 Sundry creditors — Unpaid purchase price (not yet payable)-— Interest due on loans — Land .. .. .. .. .. 14,565 1 10 Consolidated Fund .. 81,628 0 4 Buildings .. .. .. .. 69.798 14 9 Due and unpaid .. 256 3 4 Mount Pisa Estate Account .. .. 112 16 8 81,884 3 8 Sundry debtors— £ s. d. Interest accrued but not due on loans .. 10,813 9 2 Rents, &o. .. .. 31.680 8 10 Miscellaneous .. .. .. .. 2,161 12 9 Less reserve for irrecoverPaymonts in advance— able rents .. .. 1,500 0 0 Rents .. .. .. .. 1,607 7 11 30,180 8 10 Principal instalments on buildings .. 42 4 8 Principal instalments on buildings .. 998 4 9 Principal instalments on sales of land .. 355 1 8 Principal instalments on sales of land .. 254 11 I Sales of land .. .. .. .. 45 0 0 Interest on sales of land .. .. 261 6 1 Interest on sales of land .. .. 33 15 9 Interest on purchase price, Mataikona Estate 28,149 0 3 Amounts charged in advance— Interest on investments . . .. .. 260 5 3 Rents .. .. .. .. 20,015 1.7 4 Miscellaneous .. .. .. .. 84 13 2 Interest .. .. .. .. 40 0 0 Bills receivable—Glencoe Settlement Drains Writings-off in Suspense .. .. .. 5,858 10 5 Account .. .. .. .. 240 0 0 Reserve for losses on revaluation of properties .150,000 0 0 Postponements outstanding— Reserve .. .. .. .. 90,930 8 2 Rent .. .. .. .. .. 42,2.88 9 4 Accumulated losses written off under section 22 Principal instalments on buildings .. 800 7 7 of the Finance Act, 1927 (No. 2)— Interest on sales .. .. .. 129 2 10 Remission of interest due £ s. d. Interest accrued but not due on— to Consolidated Fund .. 466,229 7 6 Sales of land ".. .. .. .. 144 6 3 Reduction of Capital Ac- Investments .. .. .. .. 799 9 0 count .. ..1,011,000 0 0 Losses in Suspense Account . . .. 5,858 10 5 Against Reserve Account 26,975 7 0 Depreciation in land-values, &c. .. .. 60,513 13 6 Revaluation Board determinations, &o. — As per contra .. .. .. .. 1,504,204 14 (i Reduction in value of £ s. cl. land .. .. 11,002 7 8 Reduction in value of buildings .. .. 162 18 5 Rents written off .. 523 15 7 Remissions .. .. 4,113 19 7 15,803 1 3 Accumulated losses written off under section 22 of the Finance Act, 1927 (No. 2)— Revenue Account—Loss to £ s. d. 31st March, 1927 .. 289,35117 1 Depreciation of land-values 115,362 14 11 Revaluation Board reductions .. .. 1,099,490 2 (i As per contra .. ■■ .. .. 1,504,204 14 6 Revenue Account .. .. .. 223,797 6 8 Investment in Public Debt Redemption Fund 32,532 12 11 Cash in Public Account . . 6,889 18 3 Investment Account .. 45,000 0 0 51,889 18 3 £3,984,783 6 0 £3,984,783 6 0 J. B. Thompson, Under-Secretary for Lands. J. H. O'Donnell, Controller of Accounts. I hereby certify that the Receipts and Payments, Revenue 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 thereb} 7 . The following comment is appended : Interest on the amount held in the Public Debt Redemption Fund has been compounded, whereas there is no statutory provision therefor.- G. F. C. Campbell, Controller and Auditor-General.

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