GOVERNMENT ADVANCES TO SETTLERS OFFICE (REPORT BY THE SUPERINTENDENT OF THE) FOR THE YEAR ENDING 31st MARCH, 1900.

Appendix to the Journals of the House of Representatives, 1900 Session I, B-13

8.—13.

1900. NEW ZEALAND.

GOVERNMENT ADVANCES TO SETTLERS OFFICE (REPORT BY THE SUPERINTENDENT OF THE) FOR THE YEAR ENDING 31st MARCH, 1900.

Presented to both Houses of the General Assembly by Command of His Excellency.

The transactions of the fifth year of the existence of the office have not been of such a nature as to call for any particular comment. The instalments of interest and principal to the 31st March, 1899, have been collected in full, no sum remaining outstanding on the 31st March, 1900. The department has no securities on its hands; the inspection of securities by District Valuers has been of advantage to the office in enabling attention to be drawn to any property which might from any cause have gone back in value. From the tables attached it will be seen that the Board had, up to the 31st March, 1900, authorised 8,152 advances, amounting to £2,633,440. The total amount asked for by the 8,452 applicants, granted in full and partially, was £3,012,870; 1,004 applicants declined the grants offered them, amounting to £454,000, so that the net advances authorised to the 31st March, 1900, numbered 7,448, and amounted to £2,179,440. The securities for the net authorised advances were valued at £4,359,983, and these are in many instances being enhanced by the expenditure in improvements of part of the money borrowed, and the liability reduced by the periodical repayments of principal in the case of instalment loans. The number of applications received to the 31st March, 1900, was 10,995, for an aggregate amount of £3,711,033. As was anticipated, the indebtedness to the Consolidated Fund was cleared off during the year, and on the 31st March, 1900, the office had sufficient funds available to meet its liability in respect of interest unaided. The manner in which instalments continue to be met by mortgagors is highly satisfactory, and has in no small degree contributed to the result obtained on the year's operations. The 1-per-cent. sinking fund now in the hands of the Public Trustee amounts to £49,678 15s. 3d. £2,199 19s. 10d., the cash balance at credit of Management Account on the 31st March, 1900, was paid to the Public Trustee to the credit of an assurance fund as provided by section 53 of the Act. John McGowan, Superintendent. Advances to Settlers Office, 25th May, 1900.

8.—13.

Purposes for which the Advances appear from the Applications to be required, classified according to Provincial Districts, to 31st March, 1900.

2

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8.—13.

Applications for Loans received to 31st March, 1900, classified according to Provincial Districts.

3

Freeholds. For Loans Leaseholds. For Loans Freehold with lit For Is con iasehi Loan abined olds. cs Totals. Provincial Districts. Not exceeding £500. Over £500. Not exceeding £500. Ovi sr£500. Not exceeding £500. Ovc sr £500. ° , t£ Amount g.3 a of ■§ g| Loans S< a applied 5 u for - No. Amount. No. Amount. No. Amount. No.. .mount. No. Amt. No. .mount. 1 £ £ £ £ £ £ £ .uckland 1488 285,328 256 285,535 580 72,075 28 28,740 23 4,310 3,950 2,380 679,938 'aranaki 513 131,600 161 193,242 502 76,305 27 22,965 11 1,250 7,500 1,220 432,862 lawke's Bay 411 82,030 89 94,985 310 47,590 17 20,450 7 2,520 2 1,475 836 249,050 Vellington .. 844 228,357 383 464,552 1201 165,487 5G 50,385 1,900 12 17,980 2,503 928,661 larlborough .. 153 31,080 48 60,625 99 11,757 2 1,600 2,790 12,400 327 120,252 17 felsou 128 27,560 32 39,425 49 5,425 3,100 i 1,350 2,200 219 79,060 Vestland 158 28,865 23 21,880 19 3,935 600 1,300 1 1,000 207 57,580 Janterbury .. 250 51,105 118 157,413 584 55,398 1,770 1,066 1 2,000 961 268,752 2 )tago and Southland .. 1172 281,546 469 500,724 628 77,508 18 12,900 42 10,780 13 11,420 2,342 894,878 Totals a 59,925 10,995 3,711,033 5117 1,147,471 1579 1,818,381! 3972 515,480 155 142,510 122 27,266

B.—lB.

Advances authorised to 31st March, 1900, classified according to Provincial Districts.

4

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5

8.—13

Advances authorised to 31st March, 1900.

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8.—13

6

Advances authorised on Fixed Loans, classified according to Provincial Districts, to the 31st March, 1900.

Note.—The figures supplied in this return are not to be read as in addition to the preceding tables, being embodied therein.

THE GOVEENMENT ADVANCES TO SETTLEES OFFICE. Statement of Liabilities and Assets at 31st March, 1900.

Dβ. Liabilities. £ a. d. Cβ. Assets. £ s. d. 3-per-oent. loan, redeemable Ist April, Investment Account — 1945, "A" .. .. .. 1,500,000 0 0 Advances on mort-3-per-cent. loan, redeemable Ist April, gage .. .. £2,087,565 0 0 1945, "B" .. .. .. 500,000 0 0 repayments 340,235 10 3 Suspense Account .. .. .. 3,174 19 11 1,747,329 9 9 Aocrued interest payable .. .. 19S 13 3 Temporary investments, Bank of New Profit and Loss Account .. .. 26,394 14 10 Zealand guaranteed stock .. .. 4,836 17 0 Temporary investments, aid to public works .. .. .. .. 50,000 0 0 Sinking Fund Investment Account with Public Trustee .. .. .. 49,678 15 3 Assurance Fund invested with Public Trustee .. .. .. .. 2,199 19 10 Mortgage instalments receivable—overdue .. .. .. .. 828 14 6 Bills receivable (Prior's deficiency) .. 1,190 9 1 Interest receivable —overdue.. .. 3,579 5 6 acorued .. 20,941 9 8 Cash in hand and in bank .. .. 15,144 16 9 Loan-flotation charges, "A" .. .. £105,897 7 5 Loan-flotation charges, "B" .. .. 28,141 3 3 134,038 10 8 £2,029,768 8 0 £2,029,768 8 0

Statement of Profit and Loss Account for the Year ending 31st March, 1900.' Dβ. £ s. d. Gβ. £ s. d. To Management Expenses Account .. 4,455 16 4 By Balance at 31st March, 1899 .. 12,321 16 1 Balance, net profits.. .. .. 26,394 14 10 Management Account, interest, gross profits .. .. .. .. 18,528 15 1 £30,850 11 2 £80,850 11 2 f '. .

exceei ling ixceei ling Provincial Districts. j. Amount of Value Mortgage, of Security. „ Amount of Value °" Mortgage, of Security. jt Amount of Value Mortgage, of Security. Auckland Taranaki Hawke's Bay Wellington Maryborough Nelson ... Westland Canterbury Otago and Southland 28 14 13 24 £ 3,290 3,360 3,650 5,340 £ 9,708 11,067 8,650 16,895 3 14 3 23 £ 2,400 12,550 2,700 25,225 £ 6,391 28,642 5,842 57,751 31 28 16 47 £ 5,690 15,910 6,350 30,565 £ 16,099 39,709 14,492 74,646 2 5 5 44 150 570 1,575 10,410 393 1,757 3,305 25,298 4 16 5,650 22,880 10,584 46,682 2 5 9 60 150 570 7,225 33,290 393 1,757 13,889 71,980 Totals 135 28,345 77,073 ; 63 71,405 155,892 198 99,750 232,965

7

8.—13

Statement of Management Account for the Year ending 31st March, 1900.

Dβ. & a. d. £ s. d. Or. £ s. d. £ s. d. To Advertising .. .. 34 4 0 By Release- and consent-fees 156 12 0 Audit Department .. 200 0 0 Insurance premiums re-Post-Office services .. 700 0 0 funded .. .. 16 5 6 Printing and stationery 293 14 0 Mortgage-forms .. 106 1 6 Registration-fees refunded 3 5 6 Production-fees .. 152 14 0 Registering mortgages 24 15 0 Valuation-fees .. 2,351 15 8 Salaries .. .. 2,950 010 Unauthorised expendiSolicitors' costs .. 336 15 9 ture, 1899-1900, reSundries .. .. 52 13 6 funded .. .. 27 10 8 Telegrams .. .. 180 15 1 2,810 19 i Valuation-fees paid to Balance of management expenses Valuers .. .. 21 0 0 transferred to Profit and Loss AcValuation Department count .. .. .. .. 4,445 16 4 services .. .. 2,469 12 0 — 7,266 15 8 7,266 15 8 Interest. Interest. Interest paid on loans.. 67,500 0 0 Interest received on Interest paid mortgages .. .. 76,565 13 8 on repay- Interest received on temments £421 14 8 poraryinvestments,&o. 6,154 3 3 Less accrued at Mar. 31, 82,719 16 11' 1899 193 7 2 Less overdue and accrued 228 7 6 at 31st March, 1899 .. 20,784 16 3 Interest on repayments accrued at 31st Maroh, 61,935 0 8 1900 .. .. 198 13 3 Interest receivable — 67,927 0 9 overdue .. .. 3,579 5 6 Balance of interest transferred to Profit Interest receivable—acand Loss Account .. .. 18,528 15 1 crued at 31st Maroh, 1900 .. .. 20,941 9 8 86,455 15 10 £93,722 11 6 £93,722 11 6

Statement of the Receipts and Expenditure for the Year ending 31st March, 1900. Dβ. Receipts. £ s. d. Or. Expenditure. & s. d. To Cash in hand and bank at 31st March, By Advertising .. .. .. 34 4 0 1899 .. .. .. .. 73,811 14 2 Advances on mortgages .. .. 448,985 0 0 Consolidated Fund advances .. 16,000 0 0 Assurance Fund .. .. .. 2,199 19 10 Income tax on 4-per-cent. stock re- Audit Department .. .. 200 0 0 funded.. .. .. .. 113 18 2 Consolidated Fund, refunds .. 23,000 0 0 Insurance premiums refunded .. 227 14 10 Interest on loans .. .. .. 67,500 0 0 Interest, Bank of New Zealand .. 416 8 5 „ repayments .. .. 421 14 8 Interest on mortgages .. .. 76,565 13 8 „ Bankof England advances 1,462 13 4 Interest on Sinking Fund, Public Insurance premiums paid .. .. 211 9 4 Trustee .. .. .. 1,221 13 1 Bank of England advances refunded 150,000 0 0 Interest on temporary investments, Law-costs .. .. .. 336 15 9 &c. .. .. .. .. 4,402 3 7 Loan-flotation oharges, "B" loan .. 28,141 3 3 Loan"B" .. .. .. 500,000 0 0 Post-Office services .. .. 700 0 0 Mortgages and instalments repaid .. 136,532 510 Printing and stationery .. .. 293 14 0 Mortgage-forms .. .. .. 106 1 6 Production-fees refunded .. .. 211 6 Production-fees .. .. .. 155 5 6 Registration „ .. .. 3 5 6 Public Trustee, refunds .. .. 118,443 6 8 Registering mortgages .. .. 24 15 0 Release- and consent-fees .. .. 158 14 0 Release- and consent-fees refunded .. 2 2 0 Sundries.. .. .. .. 221 5 0 Salaries .. .. .. .. 2,950 0 10 Suspense Account.. .. .. 8,323 4 0 Sinking Fund investment with Public Temporary investments refunded .. 180,000 0 0 Trustee .. .. .. 136,532 510 Unauthorised expenditure, 1899-1900, Sundries .. .. .. .. 273 18 6 refunded .. .. .. 27 10 8 Suspense Account.. .. .. 6,796 8 6 Valuation-fees .. .. .. 2,498 2 8 Telegrams .. .. .. 180 15 1 Temporary investments .. .. 230,000 0 0 Valuation Department services .. 2,469 12 0 „ . fees paid to Valuers .. 21 0 0 „ refunded .. .. 146 7 0 Prior, John (Studholm's mortgage, deficiency and interest) .. .. 1,190 9 1 Cash in hand and bank at 31st March, 1900 .. .. .. .. 15,144 16 9 £1,119,225 1 9 £1,119,225 1 9

8.—13

Statement of Consolidated Fund Account at 31st March, 1900. Db. Cb. 1899. £ s. d. 1899. £ s. d. May 6. To Cash refunded .. .. 3,500 0 0 March 31. By Balance .. .. 7,000 0 0 June 6. „ .. 3,700 0 0 May 2. Cash advance .. .. 6,000 0 0 July 5. „ .. .. 5,800 0 0 Sept. 27. „ .. .. 10,000 0 0 Nov. 2. „ .. .. 5,500 0 0 Dec. 11. „ .. .. 4,500 0 0 £23,000 0 0 £23,000 0 0 John McGowan, Superintendent. Government Advances to Settlers Office, P. Heyes, f.s.a.a. Eng., Wellington, 31st May, 1900. Accountant. Examined and found correct. J. K. Warburton, Controller and Auditor-General. Approximate Cost of Paper.— Preparation, not given; printing (1,625 copies), £610s. 6d.

Authority: John Mackay, Government Printer, Wellington.—l9oo.

Price 6d.]

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