ADVANCES. TO SETTLERS.

Dominion, Volume 3, Issue 637, 14 October 1909, Page 11

ADVANCES. TO SETTLERS.

. A RECORD YEAR. Tho fifteenth annual report and balance- . sheet of the Advanoes to Settlers' Office states thht a'further record'has been established this 'yea): in the amount of business transacted,' the applications numbering 4471, amounting to >62,050,252,- as • against' 3183..- applications, amounting to £1,668,135, for tho previous year increase of 1288 applications for .£382,117. The advances actually granted during the year numbered. 2043, amounting to JC1,493,835 125., which exceeds thosa of the previous yenr by 672, amounting to' 2s. lid. The board had up to March 81, 1809,-authorised 25,531 advances, amounting to ,£1),200,925, Applicants to tho. number of 2794 declined 'the . gralits offered thoni, amounting 1 to i 11,139,810, so that tjio net;advances authorised to March 31, 1009, numbered,'22,74o, and amounted to £8,067,115. The 1 total . amount of advances laotuolly paid over during th'o year for both tho Advances to Settlers and-Advances to Workers Departments was jei,792,010 183; Classified according to _ provincial . districts, 'the total advanoes authorised.to dato'are: -r ■ '• i . \ Aifcomit Of Number of ■'• Advanoes ■ applications, authorised. \ . .» ..£ ' 'Auckland : 6,435 2,011,663 Taranaki . :... 3,640 . 1,630,409 , V: : Hawke'a JBay; 1,236 ' ' 367,135 . , Wellington 6,507 2,475,478 .. Marlborough -. 781 . 321,305 Nelson ; 348 : ; 110,620 : Wcstland . ' 53-i ; ; 127,530. / Canterbury. 2,191 ■ ■ 716,000 Otagoi 1,690 - . 673,455 Southland 2,103 767,330 . ..Totals' 25,534 . X 9,200,925 .' Classified, according ,to provincial districts, tha advances authorised during the year ended March' 31, 1903, are:—" , i - ■ Amount of • • 1 Number of Advances ... ; . applications.' .authorised. Auckland ' 053 - -304,380 .Taranaki 348 155,860 - 7' .Hawko's.Bay ......... 123 . .. .. 46,800 7. '. Wellington' * 908' -389,500 . ;V' Marlborough 105 ; . 41,445 i: ■■ Nelson . 04 .. 20,205 . >* Wcstland, -66 "'12,250 -. " Canterbury .. ' 280 " .112,845 .. Otago 11l ■ 45,395 ', ■'"Southland 120 • - <-3,955 . Totals 3,078 i 1,202,995 Tho advances Outstanding are as follow ..., Number. ; * Amount. : : Not exceeding JC50010,059 ■ 2,040,807 '12 6 Exceeding .£SOO • but' . : ' : not- exceeding ifilOOO .2,017 , .1,476,684 3.2 Exceeding X'IOGO. but , ' not .exceeding >£2000' . 892 ' 1,225,370 6'9 Exceeding .£2OOO but • V. not/exceeding :;142 / .. .366,179 111 Totals WM JC5,118,011 4 4 . Advances to Workers. The Government Advances'to Workers ; Act ■was 'passed,'on October 20, 1906. ',I'or tho year ended March 31,1900, the";a'pplicati6na dealt with numbered 1781, -and- amounted 'to £472,989,: as': against. 1310 applications,.''.-amounting to .£351,610 for'the' prOviousVyear, .'an -increase : of 474 applications/j for £121,379. , Tho advances -actually granted during 'the'year.' numbered. •4116,•• for : £295,181 -Os., : which' : exceeds those of tho ;previuos- : year 'by 356 for £94,200 3s. lOd. Up to March 31 tho board had authorised 2399 auvofcocs,. amounting.- to £603,800.0. Applicants to tho number of, 142 declined the grants of-.: .fered.theoj,.amounting,to £32,590,'50 that, the' not advances authorised to-If arch 31, .1909, r.umbered'22.s7, and "amounted to £571,210.. , Classified" according .to provincial districts, the advances authonscd are .as. under!— . ?> . i.; ! Amount '>,': - . of Advances. Number or authorised. .Applications. Auckitind .610- ; .-' •Taranaki ■: 67 .15,(300 Hawke's'Bay ...123. : . 31,615 Wellington' .' 540 145,10 a. Marlborough . ................ 80 . '~.-19,525, . Canterbury .523 , , 142,735'.' ,Gtago ,-■ ....196,' . i 50,205 Southland ?.r>,' '81' 10,975. , ■, ■ /Total > i ;i is;39o' ; ■' xeo3,Boa': . ■ Classified according to. provincial : districts, th'o. advances authorised during l tho year ended Maich 3l;"1909/ «r«r- - v. i'- Amount. ~ of Advances ',Number of authorised, . . .'. 'Applications. £ ' Auckland .' 321 , ■ • 73,695. Taraftaki 31 '\:Y 7,030 Hawko'ayßay- • 54 14,180 Wellingon - 281 ,V.-.' 75,875 Ilarlhorough: > 41 .'.10,025 Nelson 53 '. , 11,895 , Wcstland v :..:.. ': 55 .a 5,705 Canterbury-'■ ;2GV. 1 ' .71,575. otago:: 103 , ;.. 26,905 . Southland '4-1 v.. 10,010 ... ;: Total :.. 1,220 , £307,495 V-' Tho advances outstanding• aro .as follow:— : . - .Amount. ' Number.' £ s. di On .freeholds: ...............'1,681 . T ,,. 403,053 2 8 On .ileaSeholds '.: 118 : .19,493 0 0 ... !'Total • 1,799„/- £482,548 2' 8 ' Tho : average freehold- advance is £275, and 'tho average leasehold .ftdvanCfi is. £165; >; ! The'advanccslgranted during the year'ended March 31; 1909, aro as follow:—.: '■ -V Amount. IV' Number. • « • s. d. bn: frcehblds . 1,022 , 282,259 '6 .0 On leaseholds, 94 . 15,925 0.0 - Total : 1,110 ... £290,18* .6 0 ■ Eor tha. year the-'averago'freehold,advance is £270, and tho average' leasehold.- advance is £169. - Tho total sum- raised by the ! Government 1 'on ' debentures ■ for : investment on mortgase ,is .' £473,500. Qne thousand.' seven hundred and ninety-niiie : mortgagors:are now indebted the '.Department to the extent of £432,518 2s. Bd. in respect of. prihcipal: moneys,,:an- increase : during the year of IU-12 mortgagors,'amounting to £279,892 Js."lt was ptedicted in last year's report that tho result 'of this year's operations would produce /profits sufficient to' cover-the deficiency arising from preliminary expenses, and leave a surplus, 'i'hoso • anticipations have, been real* isotf,"so that there:is a credit balance to.carry.fonvard amounting to £IM2 4s. od., after , mak: ing' tho necessary provision for/sinking fund. The gross profits for ended .llarch 31, 1900, Were £4394 75.. Sd.Wond the cost of management and expenses of the Department £037 7S. 5d., being 0.18 per cent., or 2s, Bd. per £100 lon the cdpital'employed'. ;. Tho • net profits • amounted to £3757. Os. 3d., A sum of. £1552 17s. has bfceu appropriated out of profits to the bs- ' tablishmeut'of a.sinking.fund as required by Section's 6 <1) of the Government Advances to Settlers Act, 1?08. : Under the provision* of th« Act, all'mortgages, are propnred in the offico free of cost to mortgagors, and the work has been done in a most satisfactory manner 4nd - without difficulty.; .' r :