B.—l [PT. IV]

LAND FOR SETTLEMENTS ACCOUNT Revenue Account for the Year ended 31st Mabch, 1942 Dr. Cr. Expenses of a general nature— f Revenue of a general nature : Interest on investments— £ Interest on capital— In Public Debt Redemption Fund .. .. 64,724 Loans .. .. .. .. .. 400,169 In Public Account .. .. .. .. 24,260 Capital, proceeds sale of Crown lands " .. . . 111, 425 Revenue derived from estates—Value of Crown land in estates .. .. .. 8,478 Rents .. .. .. .. .. 378,253 Accumulated funds of Cheviot Estate .. .. 11,062 Interest on sales— Sundry expenses re loans capital— Land .. .. .. .. .. 26,203 Management of securities, &c. .. .. .. 3,043 Buildings .. .. .. .. .. 4,051 Proportion of premium on loan conversions .. 10,363 Royalties .. .. .. .. .. 185 Interest payable under section 208, Land Act, 1924 .. 462 Miscellaneous interest, &c. .. .. .. 89 Audit fee .. .. .. .. .. 250 Land-development revenue— Expenses referring to estates— .. .. Rents .. .. .. .. .. 5,566 Capital losses on revaluation, reallotment, &c. .. 167,060 Interest on sales, &c. .. .. .. .. 1,073 Administration charges : Salaries, &c. .. .. 1,046 Interest on advances .. .. .. .. 10,941 Administration expenses .. .. .. .. 9,566 Profits from blocks developed .. .. .. 48 Rebates .. .. .. .. .. 32,381 Interest earned on sundry blocks farmed by .Department 32,625 Remissions of rent, &c. .. .. .. .. 16,745 Miscellaneous .. .. .. .. .. 67 Rents, &c., written off .. .. .. .. 3,811 Revenue derived under the Deteriorated Land Act, 1925 : Protection of securities: Repairs, &c. .. .. 1,257 Interest on advances .. .. .. .. 236 Expenses chargeable to land-development revenue— Balance: Loss for year carried down .. .. 233,217 Administration expenses .. .. .. .. 446 Rebates .. .. .. .. .. 936 Remissions of rent, &c. .. .. . . .. 126 Rents, &c., written off .. .. .. .. 628 Compensation for injuries to workmen .. .. 399 Miscellaneous .. .. .. .. .. 57 Expenses chargeable on revenue derived under the Deteriorated Land Act, 1925— Administration expenses .. .. .. 5 Rebates .. .. .. .. . . 13 Remission of interest .. .. .. .. 10 £781,538 £781,538 ~~1 £ Balance — Balance carried forward : Loss to 31st March, 1942 .. 671,311 Brought forward .. .. .. .. 438,094 Brought down .. .. .. .. 233,217 £671,311 £671,311 Balance-sheet as at 31st March, 1942 Liabilities Assets General General Capital — £ £ Cash— £ £ Loans — ' In separate account .. .. 135,121 3 per cent. .. .. .. 215,029 In investments .. .. .. 2,136,365 3J per cent. .. .. .. 291,370 In deposits, miscellaneous.. .. 3 3£ per cent. .. .. .. 6,179,282 2,271,489 3| per cent. .. .. .. 70,000 Investment in Public Debt Redemption 4 per cent. .. .. .. 4,124,924 Fund .. .. .. .. .. 1,667,825 4| per cent. .. .. .. 22,740 Consolidated Fund: For interest on— 5 per cent. .. .. .. 110,000 Investments in Public Account .. 3,181 Funded debt, £4195. 5-88 d. per cent. 33,446 Proportion of loan capital .. 191,069 Unconverted, 4 per cent. .. 200 194,250 Unrecouped expenditure, Hutt Valley 11,046,991 Land Settlement Account .. .. 13 Crown land inchided in estates .. 211,940 Premium on loan conversion : Balance Cheviot Estate Account (see subsidiary not yet written off .. .. .. 18,163 accounts attached) .. .. 303,065 Losses in Suspense.. .. . . .. 5,640 Sales of Crown land, &c. (inclusive of Revenue Account: Loss to 31st March, assets and liabilities shown under 1942 .. .. .. .. .. 671,311 " Sales, section 20, Land Act, 1924 ") 3,591,715 Capital transferred from Discharged Soldiers Settlement Account . . 4,789 Estates — Land— 15,158,500 Leased ... .. .. .. 9,027,730 Less amount expended in opening Unleased .. .. .. 79,789 up Crown lands .. .. 194,235 9,107,519 14,964,265 Provisional State forest .. .. .. 3,158 Deposits by lessees (section 208, Land Buildings and improvements (unsold) .. 11,335 Act, 1924) .. .. .. .. 22,508 Advances on mortgage (section 35, Consolidated Fund: For interest due on— Finance Act, 1940) .. .. .. 172 Loans .. .. .. .. 539,087 Sales debtors — Capital proceeds sale of Crown lands 549,627 Buildings, &c. .. .. .. 83,7.09 1,088,714 Land .. .. .. 500,621 Interest on loans accrued but not due .. 93,757 584,330 Reserve for transfer from Discharged Plant and machinery .. .. 3,835 Soldiers Settlement Account .. .. 8,191 Less depreciation .. .. 3,451 Writings off in Suspense .. .. .. 5,640 384 Carried forward ~ ~ .. £16,183,075 Carried forward ~ ~ £14,535,589

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