DRAFT.
412
Land Sales on the one side, and extraordinary Expenditure on the other side, there was a surplus of about $130,000 which however only just sufficed to wipe off the debit balance existing between the Liabilities and Assets at the beginning of 1896. It follows therefore that the item mentioned in paragraph 7(1) of your despatch under acknowledgment, viz: the sum obtained by the sale of Marine Lot 278, which took place in 1896, has already been used to clear off existing liabilities, and cannot be regarded as available towards any future expenditure.
4.
I shall be glad to be informed (1), as regards the revenue side of the question; what is the estimate of the premia to be derived from the sale of