430
$652,236.11, but any direct comparison between
the figures thus furnished cannot be made for
the reason that the Statement of Assets and Liabilities for 1906 contained, as in provicus years, certain items, which, in accordance with the Colonial Regulations (Rule 344) as recently revised, should not be so included. The inclusion of these items, which represented sums which were due to the Colony, or, on the other hand, sums for which the Colony was liable within the year but which remained out- standing when the accounts were closed, had the effect on 31st December 1906 of understat-
ing the balance of Assets on that date by $44,862.66.
5. A Statement of the Railway Loan Account is appended to the Statement of Assets and Lia-
bilities:
the amounts of $883,271.40 appearing
en each side of this account should be
$863,271.40 and the totals should be corres- pondingly roduced to $2,900,822.42.
The total Expenditure, as shown by the Railway Construction Books, to 31st December 1907 was $2,878,806.54 and the Local Auditor reports that the difference between this amount and that recorded in the Treasury Books is "owing to certain transfers in the Treasury "Books which are not shown in the Railway Books, "and also to the aifference in the rates of "exchange in connection with the Crown Agents' "Accounts, 1906, the Railway accepting the "debits at the monthly rates of exchange given
by
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