ADVANCES TO SETTLERS.

Wairarapa Age, Volume XXXI, Issue 9137, 13 July 1908, Page 5

ADVANCES TO SETTLERS.

A RECORD YEnR

The business of the Advances to Settlers Office for the year ended March 31st last was once more a record in volume. The annual report of the office, submitted to Parliament on Friday stated that during the twelve months the number ot appli cations received for loans was 3,183, as against 2,420 in the previous year. The total sum of money for which application was made amounted to £1,668.135, as against 999,461 for the previous year. The advances actually granted during the year numbered 2,371, the sum involved being £1,197,416, as against£767,73o to 1,929 applicants in the previous year. The net total of the advances authorised by the office and accepted by applicants from the inception of the system up to March 31st last was £6,937,950, which was distributed amongst 19,883 persons. The gross number of advances authorised was 22,456, but 2,573 applicants declined the grants offered them.

The applicants, were distributed over the provincial districts as follows Auckland, • 5,482; Taratiaki, 3,301; Hawke's Bay, 1,113; Wellington, 5,659; Marlborough, 676; Nelson, 284; Westland, 468; Canterbury, 1,911; Otago and Southland, 3,562. The proportion was maintained roughly last year. The average amount of the advance granted during the year was £sos,and. the average amount of the advances now outstanding is £357. Sixty-sever, per cent of the advances made during the year were for sums not ex ceeding £SOO. ' 1 The total sum raised by the Government on debentures for investment on mortgages is £4,110,000. The net pro tits for the year amounted to £51,385, an increase on the previous year of £6,413, notwithstanding the concession-* granted to mortgagors. Sixteen freehold and eleven leasehold securities have for various reasons been realised by the Department up to date. 1 In/ no case has a loss been made.