B.—l [Pt. IV].

DEPARTMENT OF AGRICULTURE. NAURU AND OCEAN ISLANDS ACCOUNT. Revenue Account for the Yeab ended 31st March, 1931. Dr. £ s. d. Cr. £ e. d. To Interest on debentures .. .. .. 24,732 16 2 By Annual payment from British Phosphate Administration charge .. .. .. 500 t> i> Commission .. .. .. •• 35,848 11 2 Audit charge .. .. .. .. f> 0 0 Interest on investments .. .. .. 341 18 3 Cost of exchange on remittances .. .. 31 18 (I Balance to Appropriation Account . . .. 10,920 15 3 £36,190 9 5 I £36,190 9 5 Appropriation Account for the Year ended 31st March, 1931. Dr. £ s. d. Cr. £ s.. d. To Sinking Fund Reserve Account .. .. 11,115 15 0 By Balance, let April, 1930 .. .. •• 15,937 511 Balance, 31st March, l<l3l .. .. 15,742 6 2 " Revenue Account .. .. .. 10,920 15 3 £26,858 1 2 £26,858 1 2 Balance-sheet as at 31st March, 1931. Liabilities. Assets. £ s. d. Capital— £ s. d. £ s. d. Share (Iβ per cent.). Nauru and Ocean Islands Debentures at 5 per cent. .. 600,000 0 0 phosphate rights (at oost) .. .. .. 565,040 0 0 Less debentures redeemed .. 109,200 0 0 Proportion of annual payment from British 490,8(11) (i ii Phosphate Commission and other interest aoorued Interest accrued .. .. .. .. 8,067 18 II but not due .. .. .. ■■ 26,935 19 7 Reserve Account .. .. .. .. 74,240 0 0 Investments—Nauru and Ocean Islands Account.. 50 0 0 Sinking Fund Reserve Account .. .. 6,2:j0 7 ;i Cash— t s. d. Appropriation Account .. .. .. 15,742 6 2 Nauru and Ocean [elands Account li.noa 15 :{ Nauru and Ocean Islands Sinking Fund Aooount .. .. 48 17 ti 3,064 12 9 £595,080 12 4 £595,080 12 4 Notio. (I) New Zealand's share of the profits earned by the Commission has been used for capital developments, but is not included in these accounts. (2) The accounts of the British Phosphate Commission for the year ended 30th June, 1930, are published herewith. A. S. Houston, Accountant, Department of Agriculture, Wellington. I hereby certify that the 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 thereby, subject to the above departmental notes. The following comment is appended : New Zealand's share of profits earned by the Commission has been used for capital developments, but is not included in the accounts. —G. F. C. Campbell, Controller and Auditor-General.

THE BRITISH PHOSPHATE COMMISSIONERS. Trading Account for the Year ended 30th June, 1930. Dr. £ s. d. Cr. £ s. d. F.o.b. cost of phosphate, including interest on Phosphate sales and sundry credits, less freight capital, contribution to a sinking fund for the and insurance, &c. .. .. .. 648,164 19 6 redemption of capital, and other charges in accordance with Article 11 of agreement of the 2nd July, 1919 .. .. .. .. 645,987 611 Government Appropriation Aooount .. .. 2,177 12 7 £648,164 19 6 £648,164 19 6 Balance sheet as at 30th June, 1930. Liabilities. £ s. d. Assets. £ s. d. United Kingdom Government .. .. 1,415,893 12 0 Nauru and Ocean Islands phosphate rights, buildCommonwealth Government .. .. 1,415,898 12 0 ings and plant, and steamer "Nauru Chief," New Zealand Government .. .. .. 539,1(88 1 8 less reserves for depreciation and other charges in accordance with Article 11 of agreement of 3,371,176 r> 8 the 2nd July, 1919 .. .. .. 2,770,115 6 10 Sinking fund for redemption of capital .. 160,324 14 4 Sundry debtors and bills receivable .. .. 354,786 5 2 Sundry creditors and outstandings .. .. 186.057 15 0 Voyages in progress .. .. .. 13,468 5 5 Government Appropriation Account .. .. 4:i.t1l li ."j Phosphate and goods in transit .. .. 149,380 11 3 Stocks at Nauru and Ocean Islands, and elsewhere .. .. .. .. .. 299,029 1 9 Cash at banks and in hand .. .. .. 174,189 11 0 £3,760,969 1 6 £3,760,9611 I 6 We have examined the foregoing balance-sl i with the books and vouchers of the British Phosphate Commissioners and the audited accounts from London. We have accepted the certificates of officers of the Commissioners for the valuation of the stocks. We have obtained all the information and explanations we have required. In our opinion the balance-sheet is properly drawn up so as to exhibil a true and correct view of the state of the Commissioners' affairs according to the best of our information and the explanations given to us and as shown by the books of the Commissioners. KENT, Brierlev, AND SULLY, Chartered Accountants (Aust.), Auditors.

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