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11th October, 1948. The Right Hon. the Minister for Maori Affairs, Wellington. Sir, — We report that we have completed the audit of the accounts of the East Coast Maori Trust lands for the year ended 30th June, 1948, and attach a set of the accounts. We have the following comments to make : Freehold Property.—We have not inspected the title deeds relative to the properties of the Trust, but have accepted certificates from the mortgagees —namely, the State Advances Corporation—that they are holding certain documents as security for advances. The solicitors to the Trust and the Bank of New South Wales, G-isborne, have certified that they are holding on behalf of the East Coast Commissioner the documents relating to the properties of the Trust which are not subject to mortgage. The value of the freehold property has been reduced by £420 10s. owing to the sale of land on Maraetaha 2, Sections 3 and 6, for the purpose of a waterworks, and on Maraetaha 2a, Section 3, for a roadman's cottage. Live-stock on Stations.—We have accepted the numbers and values of live-stock on stations as at 30th June, 1948, as certified by the Farm-managers and Mr. H. Symes, the Farm Supervisor. We would point out, however, that in connection with Pohaturoa Station the Farm Supervisor has not certified the return, owing to the shortages disclosed, but intends to make a physical check in the near future. Station Improvements.—ln order that the stations will be on a uniform basis, we again express the opinion that a valuation of the improvements on all stations should be made and the necessary adjustments recorded in the accounts. Distributions.—We have verified all payments made to beneficiaries during the year ended 30th June, 1948. The following amounts have been credited to the various Block Distribution Accounts during the year under review : £ s. d. Pakowhai .. .. .. .. .. 374 0 0 Maraetaha No. 2, Sections 3 and 6.. .. .. 2,349 0 0 Kopua .. .. .. .. .. 1,151 10 0 Tahora 2f 2 .. .. .. .. .. 1,400 3 3 Whaitiri No. 2 .. .. .. .. 319 10 0 £5,594 3 3 In addition to the above allocation for distributions, the following amounts have been charged to the various blocks concerned:— £ s. d. Donations .. .. .. .. .. 1,413 0 8 Committee fees and expenses .. .. .. 303 5 0

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