GOVERNMENT ADVANCES TO SETTLERS OFFICE (REPORT BY THE SUPERINTENDENT OF THE) FOR THE YEAR ENDING 31st MARCH, 1901.

Appendix to the Journals of the House of Representatives, 1901 Session I, B-13

8.—13

1901. NEW ZEALAND.

GOVERNMENT ADVANCES TO SETTLERS OFFICE (REPORT BY THE SUPERINTENDENT OF THE) FOR THE YEAR ENDING 31st MARCH, 1901.

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

The transactions of the sixth 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 3lst March, 1900, have been collected in full, no sum remaining outstanding on the 31st March, 1901. . 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 or is not being well looked after. From the tables attached it will be seen that the Board had, up to the 31st March, 1901, authorised 9,931 advances, amounting to £3,244,900. The total amount asked for by the 9,931 applicants, granted in full and partially, was £3,691,005; 1,230 applicants declined the grants offered them, amounting to £565,380, so that the net advances authorised to the 31st March, 1901, numbered 8,701, and amounted to £2,679,520. The securities for the net authorised advances were valued at £5,859,039, 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 m the case of instalment loans. The number of applications received to the 31st March, 1901, was 12,999, for an aggregate amount of £4,540,828. 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 £70,839 16s. sd. £17,839 19s. 9d., the cash balance at credit of Management Account on the 31st March, 1901, was paid to the Public Trustee to the credit of the assurance fund as provided by section 53 of the Act. The balance, including interest to the 31st March, 1901, at credit of the account now amounts to £20,127 19s. 7d. John McGowan, Superintendent. Advances to Settlers Office, 25th May, 1901. i

I—B. 13.

B.—lB

Advances authorised to 31st March, 1901, classified according to Provincial Districts.

2

Authorised on Freehold Securities ou Applications. Authorised on Leasehold Securities on Applications. Authorised on combined Freehold and Leasehold Securities on Applications. Totals. Provincial Districts. n< it exeeedii ig £500. Exceeding £500. Not exceeding £500. Exceeding £500. Not exceeding £600. Exceeding £500. Number! Amount AppLa-l « tlons. i Amount of Advance* authorised. I Amount !„,„„„, Amoun autho- No. £???% autho rised. lequired. rised at I. Hsaa)g t - N. to. Aniotml A ™° required. r "^ No. Amount required.! Amount autho- No. rised. Amount required. Amount , .. , Amount authorised. ho. da h Amount A ™™ 4 required. *?™° £ £ £, 203 204,825, 347: 50,305 2261 302,123 247,580 435 65,360 92 94,445 83,670 217 : 34,365 £ £ £ £ £ 15 3,120 2,165 5 £ £ 3,585 3,150 £ £ 1,863 : 581,716 508,798 1,361 563,802! 497,105 725 223,410 199,270 2,478 989,007 869,193 288 109,727 99,755 157 51,380' 45,330 112 28,845 25,435 Auckland Taranaki Hawke's Bay .. Wellington Marlborough Nelson Westland Canterbury Otago and Southland .. 1270 .. 65T| .. 396| .. *928 .. 155 .. i 117 .. 89 .. 250 .. 1179 £ £ 246,116! 237,695 43,693 23 i 22,470 : 17,270 158,094 156,400 60,880 26 ! 23,720 18,880 26,930 11 ' 9,350 8,050 7 J 2,235 : 2,045 10 7 1,970 1,670 2 12,270 '11,320 1,700 1,575 20,575 16,810 14,650 13,350 81,580] 77.375J 229,547 33,242 223,033 32,3251 426 528,315; 459.8051049 157,615 38 47,180 42,690 70 10,215 22 24,750 20,975 : 15 1,900 10 8,600 7,350 io! 1,520 115 151,805! 130,480 441 1 44,877 446 522,288; 439, 617. 449 57,075 132,570' 43 48,120 , 33,385 8,000! 2 1,900 I 1,250 1,560 .. .. 18 4,835 3,590 14 13 2,540 2,140 10 3 750 750 J .. 23,980 22,045 I 17,82a 16,060 1,280; .. ! .. .. 3 i 900 745 .. 53,417 50,715 35,095 2 1,525 j 1,525 45,392 9 6,550 '■ 4,025 10 1,163 1,085 .. 818 252,787 218,900 277,6781 269,055 30 9,365 7,435 16 17,380 15,590 2,129 890,331 781,114 Totals .. S041 11,121,474 1,084,703 1578 1,935,626 1,636,992 3033 423,232 355,400116 113,635 j 84,385 106 ; 26,878 I 21,625 57 70,160 61,795 i 9,931 ; 3,691, 005 3,244,901 i j

8.—13.

Total amount granted on 8,701 applications, £2,679,520. Total value of securities, £5,859,039.

Advances authorised to 31st March, 1901.

3

Freehold Security. Leasehold Security. Freehold and Leasehold combined. No. Amount of Advance. Value of Security. No. Amount of Advance. I Value of Security. No. Amount of Advance. Value of Security. Advances not exceeding £100 Less declined Advances exceeding £100 but not exceeding £300 Less deolined Advances exceeding £300 but not exceeding £500 Less deolined Advances exceeding £500 but not exceeding £750 Less declined Advances exceeding £750 but not exceeding £1,000 Less declined Advances exceeding £1,000 but not exceeding £3,000 Less declined & £ £ £ £ £ £ £ £ £ £ £ .. 1,526 117,643 318,402 J2.209 144,851 388,537 27 2,320 6,256 •• 153 ! 13 . 305 \ 35,827 ,134 9,225 ] 31,023 2 165 530 J - 1 ' 373 ! 104,338 i 282,575 : 2,075 135,626 ' 357,514 — 25 j 2,155 '' 5,726 .. J 2,312 484,354 |l,174,708 726 1146,620 348,495 59 | 11,910 29,787 "I 322 j 7O > 57 * 164,648 I 60 11,470 ; 34,623 8 \ 1,560 j 5,300 _l,990: 413,780 1,010,060 I 666| 135,150 I 313,872 51 | 10,350 : ■ 24 487 ..j 1,158 1485,700 1,049,479 142 59,625 146,764 ! 21 8,705 20,427 •■ 189 : 79 > 010 164,126 20 J 8,350 ; 22,184 2 915 i l',889 J 969| 406,690 885,353 ; 122 51,275 ! 124,580 19 7,790 ' 18,538 588 J 369,690 | 747,300 \ 42 | 25,249 63,226 21 12,590 29,029 112 I 72 ' 325 14 9.782 a I 1,300 3,492 \ 3 1,950 ! 5,687 J 476; 297,365 597,518 | ! 40 : 23,949 j 59,734 — 18 10,640 ! 1_ 23,342 .. 417 360,020 1750,970 : 30 26,300 66,842 17 15,175 | 37,392 90 I 80 ' 505 ; 171,705 3 2,800 8,970 1 900 ! 1,530 327; 279,515 : 579,265 \ 27 23,500 57,872 _ 16 i 14,275 i ' 35 862 • 598 J 923,108 1,781,557 • 16 16,220 : 39,655 22 34,820 67,425 •• 123 J 201,241 385,723 1 i 2,000 6,080 5 7,785 14,093 475J 721, S67 i 1,395,834 i 15 14,220 | 33,575 17 | 27,035 ■ 53,332

8.—13.

4

Advances authorised on Fixed Loans, classified according to Provincial Districts, to the 31st March, 1901.

Statement of Liabilities and Assets at 31st March, 1901.

Statement of Profit and Loss Account for the Year ending 31st March, 1901.

'ot exceeding £500. Exceeding £500. Total. Provincial Districts. Amount of Value Mortgage;. ; of Security. „ Amount of JNo - Mortgage. No. Value of Security. No. Amount of I Value Mortgage. ] of Security. Auckland ... Taranaki Hawke's Bay Wellington Marlborough ... Nelson ... Westland Canterbury Otago and Southland 32 20 14 29 £ £ 4,140 11,766 5,585 I 18,173 3,800 i 9,210 7,040 I 21,699 250 963 570 1,757 1,975 I 4,950 12,565 ; 31,215 35,925 J 99,733 4 27 3 86 £ 4,600 30,150 2,700 38,580 £ 10,061 63,534 5,842 85,281 36 47 17 65 £ 8,740 35,735 6,500 45,620 ' £ 21,827 81,707 15,052 106,980 3 5 6 52 5 28 6,450 32,880 12,249 65,762 3 5 11 75 250 570 8,425 45,445 963 1,757 17,199 96,977 Totals 161 98 115,360 242,729 259 151,285 342,462

Dr. Liabilities. £ s. d. 3-per-eent. loan, redeemable 1st April, 1945, "A" .. .. .. 1,500,000 0 0 3-per-cent. loan, redeemable 1st April, 1945, "B" .. .. .. 500,000 0 0 Temporary advances .. .. 380,000 0 0 Suspense Account .. .. .. 2,835 11 8 Accrued interest payable .. .. 99 2 3 Profit and Loss Account .. .. 46,720 6 2 Cr. Assets. £ s. d. Investment Account — Advances on mortgage .. .. £2,626,785 0 0 Less repayments 495,684 11 5 2,131,100 8 7 Temporary investments, Bank of New Zealand guaranteed stock .. .. 4,836 17 0 Sinking Fund Investment Account with Public Trustee .. .. .. 70,839 16 5 Assurance Fund Investment Acoount with Public Trustee .. .. 20,127 19 7 Mortgage instalments receivable—overdue .. .. .. .. 1,040 6 2 Bills receivable (Prior's deficiency) .'. 1,090 11 7 Interest receivable —overdue.. .. 4,734 6 7 Interest receivable—accrued ... 22,084 9 2 Cash in hand and in bank .. .. 29,872 3 4 Loan-flotation charges .. .. 143,928 1 8 £2,429,655 0 1 £2,429,655 0 1

Dr. £ s. d. 'o Management Expenses Account .. 3,933 14 5 Balance, net profits to 31st March, 1900 26,394 14 10 Net profits for year ending 31st March, 1901 .. " .. .. .. 20,325 11 4 Cβ. , £ s. d. By Balance at 31st March, 1900 .. 26,394 14 10 Management Account, interest, gross profits .. i. .. .. 24,259 5 9 £50,654 0 7 £50,654 0 7 £60,664 0 7

5

8.—13

Statement of Management Account for the Year ending 31st March, 1901.

Statement of the Receipts and Expenditure for the Year ending 31st March, 1901.

John McGowan, Superintendent. Government Advances to Settlers Office, P. Heyes, f.s.a.a. Eng., Wellington, 31st May, 1901. Accountant. Examined and found correct. J. K. Waebubton, Controller and Auditor General. Approximate Cost of Paper, —Preparation, not given ; printing (1,575 copiee), i>s 16s. 6d.

By Authority: John Mackay, Government Printer, Wellington.—l9ol. Price tid.] • 2—B. 13.

Dr. £ s. d. £ s. d. 'o Advertising .. .. 16 5 0 Audit Department .. 200 0 0 Post-Office services .. 700 0 0 Printing and stationery 189 6 3 Premiums (insurance) paid by department.. 15 18 3 Registration - fees refunded .. .. 5 0 0 Salaries .. .. 3,178 9 4 Solicitors' costs .. 3 13 0 Telegrams .. .. 60 5 9 Valuation Department services .. .. 2,500 0 0 Cr. £ 8. d. £ s. d. By Consent-fees .. .. 16 5 0 Mortgage-forms .. 139 2 0 Production-fees .. 170 4 6 Release-fees .. .. 175 16 0 Sundries .. .. 35 4 8 Valuation-fees .. 2,398 11 0 2,935 3 2 Balance of management expenses transferred to Profit and Loss Aocount .. .. ... .. 3,933 14 5 6,868 17 7 6,868 17 7 Interest. Interest. Interest paid on loans.. 66,007 3 9 Interest paid on deposits £308 19 7 Less accrued at Mar. 31, 1900 198 13 3 Interest received on mortgages .. .. 84,454 10 4 Interest received on temporary investments,&c. 3,727 14 3 88,182 4 7 Less overdue and accrued at 31st March, 1900 .. 24,520 15 2 110 6 4 Interest on deposits accrued at 31st March, 1901 .. .. 99 2 3 Interest refunded .. 4 7 1 63,661 9 5 Interest receivable — overdue .. .. 4,734 6 7 Interest receivable—accrued at 31st March, 1901 .. .. 22,084 9 2 66,220 19 5 Balance of interest transferred to Profit and Loss Account .. .. 24,259 5 9 90,480 5 2 £97.349 2 9 £97,349 2 9 £97,349 2

Dr. Receipts. £ s. d. 'o Cash in hand and bank at 31st March, 1900 .. .. .. .. 15,144 16 9 Bills receivable .. .. .. 99 17 6 Consent-fees .. .. .. 16 15 0 Insurance premiums refunded .. 232 17 7 Interest on mortgages .. .. 84,454 10 4 Interest on temporary investments, &c. .. .. .. .. 1,189 3 7 Interest on Sinking Fund, Public Trustee .. .. .. 1,911 2 8 Interest on Bank of New Zealand .. 523 13 3 Interest on Assurance Fund .. 88 0 0 Loan Account-, temporary advances.. 380,000 0 0 Mortgages and instalments repaid .. 155,237 9 6 Mortgage-forms .. .. .. 139 2 0 Public Trustee, refunds .. .. 134,076 8 4 Production-fees .. .. .. 173 4 6 Release-fees .. .. .. 175 16 0 Refund of loan charges .. .. 5 9 0 Sundries .. .. .. .. 313 9 5 Suspense Account.. .. .. 10,510 5 2 Temporary investments refunded .. 50,000 0 0 Income-tax on 3-per-oent. stock refunded .. .. .. .. 15 14 9 Valuation-fees .. .. .. 2,548 15 0 Cβ. Expenditure. £ s. d. By Advertising .. .. .. 16 5 0 Advances on mortgages .. .. 539,220 0 0 Assurance Fund investment with Public Trustee .. .. .. 17,927 19 9 Audit Department .. .. 200 0 0 Insurance premiums paid .. .. 248 15 10 Interest on deposits .. .. 308 19 7 Interest on loans .. .. .. 66,007 3 9 Interest refunded .. .. .. 4 7 1 Loan-flotation oharges .. .. 9,895 0 0-Post-Office servioes .. .. 700 0 0 Printing and stationery .. .. 189 6 3 Production-fees refunded .. .. 3 0 0 Registration-fees refunded .. .. 5 0 0 Consent-fee refunded .. .. 0 10 0 Sinking Fund investment with Publio Trustee .. .. .. 155,237 9 6 Salaries .. .. .. .. 3,178 9 4 Solicitor's costs .. .. .. 3 13 0 Sundries .. .. .. .. 278 4 9 Suspense Account.. .. .. 10,849 13 5 Telegrams .. .. .. 60 5 9 Valuation Department services .. 2,500 0 0 Valuation fees refunded .. .. 150 4 0 Cash in hand and bank at 31st March, 1901 .. .. .. .. 29,872 3 4 £836,856 10 4 £336,856 10 4