POLITICAL NEWS AND NOTES
STATE LOANS. ANNUAL REPORT OF THE DEPARTMENT. Four thousand one hundred and thirtyone applications for loans, amounting to . £1,539,150, were received last year by the State-guaranteed Advances Department. The advances actually granted during the year amounting to £ 1,095,120. The board had, up to March 31st, 1910, authorised 28,735 advances, 1 amounting to £10,245,205. Applicants to the number of 3013 declined the ' grants offered theim, amounting to' jil,- • 210,990, so that the advances authorised to March 31st, 1910, numbered 25,722, * and amonuted to £0,025,275 net, jAe ' total amonut of advances actually paid over during the year for both the Advances to Settlers and Advances tfc ' Workers (branches was £1,457,472 11a
The average amount of the 8086 fre«hold advances is £479, and the average ' ' olf 3016 loans on leasehold securities is 1 £246.
The gross profits for the year were «' £50,084 12s lOd, and the cost of management and expenses of the department , £8846 6s 2d, being 0.15 per cent, og 3s ■ '' per £ 1,00, on capital employed (the cost ~ of tihe previous year was 0.19 per oeot.. or 3s lOd per £100). The net profits, amounted to £41,833 6s 10d'. ?
A sunn' of £57,438 has been added to the sinking fund established under sec- j tion 30 of the State-guaranteed Ad■mum Act, 1909, bringing the total " amount standing to the credit of that account to £101,(527 18s Bd. *
The Advances to Workers Department has advanced 4105 loans amounting to £1,032,826 during the three years of It* | existence. Last yew's advances were 1854 in number, of a total value of £470.425. The gross profits for the year % ended March :"lst, 1910, were £2353 3s Bd, and the cost of management and ex- " peases of the department £057 0g Od, being 0.12 per cent., or 2s 5d per £IOO, on the capital employed. The net profits amounted to £1396 2s lid. A sum of £5295 has been added to the sinking fund, bringing the total amount stand- ■ mjg to the credit of that account to £7837 17s. i
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Taranaki Daily News, Volume LIII, Issue 96, 1 August 1910, Page 5
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338POLITICAL NEWS AND NOTES Taranaki Daily News, Volume LIII, Issue 96, 1 August 1910, Page 5
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