G.—4

MAX GAT U Nos. 3 AND 4. Balance-sheet as at 30th June, 1937. Liabilities. Assets. £ s. d. Freehold property— £ s. d. £ s. d. MangatuNo. 1 .. .. .. .. 3,234 15 2 Mangatn No. 3 .. .. 21,640 0 0 Capital Account .. .. .. .. 39,640 0 0 Mangatu No. 4 .. .. 18,000 0 0 39,640 0 0 Improvements— £ s. d. Fencing .. 577 18 7 Survey .. 541 17 0 — 1,119 15 7 Revenue Account 1,609 5 3 Add Balance, Income Account 505 14 4 2,114 19 7 3,234 15 2 £42,874 15 2 £42,874 15 2 Auditors' Certificate. We have audited the accounts of Mangatu Blocks 3 and 4, East Coast Native Trust Lands, for the year ended 30th June, 1937, and our report on the audit of the accounts is contained in our letter of even date to the Hon. the Minister of Native Affairs. Clarke, Menzies, Griffin, and Co., Wellington, 15th October, 1937. Public Accountants, Auditors. Income Account as at 30th June, 1937. £ s. d. £ s. d. £ s. d. Interest .. .. .. .. ~ 139 11 11 Rent .. .. .. .. 706 11 2 Rates .. .. .. .. .. 84 18 2 Timber royalty .. .. .. 6 6 8 Land-tax .. .. .. .. .. 13 2 9 712 17 10 Distribution to beneficiaries .. .. .. 920 0 0 Balance .. .. .. .. .. 505 14 4 Expenses re report on bush .. .. .. 25 14 6 Spraying ragwort .. . . .. .. 5 10 Management and office expenses .. .. 30 3 10 £1,218 12 2 £1,218 12 2 MANGATU No. 3. Statement of Accounts for the Year ended 30th June, 1937. £ s. d. Balance at credit at 30th June, 1936 .. .. 9,014 9 7 Credits. £ s. d. Rent collected .. .. .. 706 11 2 Interest .. .. .. .. 391 15 7 1,098 6 9 10,112 16 4 Distribution .. .. .. 920 0 0 Land-tax .. .. .. .. 13 2 9 Management and office expenses .. 17 13 10 950 16 7 Balance at credit at 30th June, 1937 .. .. £9,161 19 9 MANGATU No. 4. Statement of Accounts for the Year ended 30th June, 1937. £ s. d. £ s. d. Balance at debit at 30th June, 1936 .. .. 11,743 10 5 Debits. Rates . . .. .. .. 84 18 2 Interest .. .. .. .. 531 7 6 Report on bush .. .. .. 25 14 6 Cutting ragwort .. .. .. 5 10 Management and office expenses .. 12 10 0 659 II 2 12,403 1 7 Credits. Royalty on timber .. .. .. .. 6 6 8 Balance at debit at 30th June, 1937 .. .. £12,396 14 11

4