WRITTEN OFF

Hokitika Guardian, 9 August 1929, Page 2

WRITTEN OFF

HEAVY ITEAIS IRRECOVERABLE

WELLINGTON, Aug. 7

Taking as the most notable example the case of discharged soldier settlement losses totalling £7,026,284, the Controller and Auditor-General suggests in his report to the House of Representatives that such writings-off should be annually reported to the House, not merely deducted under the provisions of a statute. The details of the seven millions written off have beeri , published previously, and now appear in the annual schedule of sums written off as irrecoverable.

Recent slump conditions are reflected in losses on realisations of securities, the Government Insurance Department showing a loss of £3411; the Lands Department, in respect of rents, £30,866; the Native Trust Office, interest on mortgage to save security and avoid mortgagor abandoning the property, £480; the Public Trust Office in respect of securities realised at a loss and concessions to mortgagors, enabling them to remain on the property, £31,348; State Advances to Settlers, March losses on realisations, £12,558, and in respect to securities in the workers’ branch £447, while £654 in rent was remitted to clients deceased or in poor circumstances. The Prisons’ Department writes off £2485 loss on realisation of Waikuna sawmill; the Mines Department £7189, comprising advances to unsuccessful companies; the Public Works Department, loss on realisation of Waikaremoana sawmill, £1279.