GOVERNMENT ADVANCES TO SETTLERS OFFICE (REPORT BY THE SUPERINTENDENT OF THE), FOR THE YEAR ENDING 31st MARCH, 1904.

Appendix to the Journals of the House of Representatives, 1904 Session I, B-13

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1904. NEW ZEALAND.

GOVERNMENT ADVANCES TO SETTLERS OFFICE (REPORT BY THE SUPERINTENDENT OF THE), FOR THE YEAR ENDING 31st MARCH, 1904.

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

The number of applications received to the 31st March, 1904, was 18,285, for an aggregate amount of £6,630,981. The Board had, up to the 31st March, 1904, authorised 14,413 advances, amounting to £4,854,040. The total amount asked for by the 14,413 applicants, granted in full and partially, was £5,478,020; 1,877 applicants declined the grants offered them, amounting to £844,520, so that the net advances authorised to the 31st March, 1904, numbered 12,536 and amounted to £4,009,520. The securities for the net authorised advances were valued at £8,704,640, 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 1-per-cent. sinking fund now in the hands of the Public Trustee amounts to £158,520 4s. 9d. £21,114 15s. lid., the cash balance at credit of Management Account on the 31st March, 1904, 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, 1904, at credit of the fund now amounts to £91,418 10s. 3d. John McGowan, Superintendent. Advances to Settlers Office, 22nd May, 1904.

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Advances authorised to 31st March, 1904.

Total amount granted on 12,536 applications, £4,009,520. Total value of securities, £8,704,640.

Freehold Securii Leasehold Security. Free shold and Leasehol d combined. •:>■■ No. Amount of Advance. Value of Security. No. Amount of Advance. Value of Security. No. Amount of Advance. Value of Security. £ £ £ £ £ £ £ £ £ £ £ 159,518 433,482 204,532 560.290 48 3,755 10,912 Advances not exceeding £100 2,095 3,055 Less declined 241 20,485 I 54,063 220 14,980 48,904 4 345 983 1,854 139,033 379,419 2,835 189,552 511,386 I 44 3,410 9,925 Advances exceeding £100 but not exceeding £300 3,231 666,905 1,625,026 1,239 241,229 535,100 88 17,630 44,243 Less declined 481 103,799 235,381 115 22,775 63,667 12 2,360 7,247 2,750 563,106 1,389,645 1,124 218,454 471,433 76 15,270 36,99( Advances exceeding £300 but not exceeding £500 1,666 687,749 1,492,807 225 88,515 225,483 40 14,265 38,882 I Less declined 250 104,745 213,635 33 13,660 33,591 3 1,365 2,785 Advances exceeding £500 but not exceeding £750 1,416 583,004 ] 1,279,172 192; j 74,855 191,892 37 12,900 36,09^ 898 592,955 1,117,718 88 49,019 116,027 29 18,685 39,716 Less declined 176 112,640 225,649 6 3,920 9,349 4 2,700 7,367 Advances exceeding £750 but not exceeding £1,000 722' 480,315 892,069 83 106,678 25 j 15,985 : 32,34! ■ *j,uaa 679 562,585 1,133,446 53 41,250 94,692 24 21,270 51,101 Less declined 127 113,105 237,672 * 3,700 10,772 3,650 7,060 Advances exceeding £1,000 but not exceeding £3,000 552 449,480 895,774 49 : 37,550 63,920 ! 20 ! 17,620 J 44,04: 881 1,396,992 2,749,031 36 31,001 79,232 37 56,185 114,447 Less declined 188 306,671 571,640 ' 4 5,335 12,564 • 8,285 14,666 693 : 1,090,321 2,177,391 : 32 ; 25,666 I 66,668 32 J 47,900 99,78:

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Advances authorised to 31st March, 1904, classified according to Provincial Districts.

Advances authorised on Fixed Loans, classified according to Provincial Districts, to 31st March, 1904.

Authorised on Freehold Securities on Applications. Authorised on Leasehold Securities on Applications. Authorised on combined Freehold and Leasehold Securities on Applications. Totals. Provincial Districts. Not exceeding £300. Exceeding £500. Not exceeding £500. Exceeding £500. ~ Amount A Wn Amount A ™° °- required. ™£l No - required. <£'; Not exceeding £500. Exceeding h"T 1 £500. Number Amount Applica- ■*?£<>* tions. lor ' Amount ol Advances authorised. No. Amount required. Amount authorised. No. Amount required. Amount authorised. No. Amount required. Amount authorised. No. Amount Amognt required. «*» vr Amount required. Amount authorised. Auckland Taranaki Hawke's Bay .. Wellington Marlborough Nelson Westland Canterbury Otago and Southland 1878 941 486 1304 201 150 154 356 1522 £ 374,811 229,484 101,810 318,992 42,382 31,570 33,090 74,952 360,208 £ 359,755 226,414 97,515 309,363 41,100 29,280 28,915 69,995 351,835 390 432 114 609 73 25 14 169 632 £ 468,325 549,743 122,855 728,210 96,190 29,050 12,650 217,350 719,948 £ 395,660 467,945 109,730 648,480 86,145 25,275 10,800 192,865 615,632 584 642 283 1623 151 18 17 604 597 £ 90,925 100,970 44,230 246,580 24,645 2,200 2,850 62,772 69,090 £ 74,363 91,545 36,310 201,200 20,000 1,745 2,410 49,755 56,948 38 43 12 68 3 £ 36,745 39,195 9,865 69,5£5 2,900 £ 27,045 27,895 8,300 48,080 1,625 33 9 9 28 27 5 4 12 49 £ 7,085 3,135 2,620 5,790 5,715 1,150 1,150 2,003 12,710 £ 5,540 2,945 2,270 4,445 5,040 1,010 845 1,685 11,870 10 19 2 19 19 £ 10,605 24,645 1,700 26,425 24,050 £ 8,070 21,345 1,575 21,910 22,040 2,933 2,086 906 3,651 474 198 190 1,146 2,829 988,496 947,172 283,080 1,395,552 195,882 63,970 50,740 361,737 1,191,391 £ 870,433 838,089 255,700 1,233,478 175,950 57,310 43,620 317,925 1,061,535 1 4 9 1,000 2,760 6,550 650 2,125 5,550 1 20 1,900 22,885 1,500 19,700 Totals 6992 4,854,040 1,567,299 1,514,172 2458 2,944,321 2,552,532 ;4519 644,262 534,276 178 168,570 |121,270 176 ! 41,358 35,650 90 112,210 96,140 14,413 5,478,020

Not exceeding £500. Exceeding £500. Totals. Provincial Districts. No. Amount of Mortgage. Value of Security. No. Amount, of Mortgage. Value of Security. No. Amount of Mortgage. Value of Security. Auckland Taranaki Hawke's Bay Wellington Marlborough Nelson Westland Canterbury Otago and Southland 47 29 18 44 £ 6,965 7,535 5,070 11,465 £ 21,720 23,693 12,222 • 32,603 9 40 3 50 1 £ 11,350 43,250 2,700 54,025 1,200 £ 25,047 97,890 5,842 121,488 2,005 56 69 21 94 1 3 6 21 97 18,315 50,785 7,770 65,490 1,200 250 670 18,730 82,145 £ 46,767 121,583 18,064 154,091 2,005 963 2,113 41,791 172,831 3 6 9 62 250 670 3,080 38,455 963 2,113 7,260 82,116 12 35 15,'650 43,690 90,715 Totals 182,690 150 368 218 73,490 171,865 377,518 245,355 560,208

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Statutory Balance-sheet at 31st March, 1904 (as required by the Audit Office in pursuance of Subsections (1) to (5) of Section 50 "Government Advances to Settlers Act, 1894"). Advances to Settlers Office Account — Section 50, (1). Receipts. £ s. d. Expenditure. £ s. d. To Cash in hand and in bank at 31st By Advances on mortgage .. .. 463,815 0 0 March, 1903 .. .. .. 33,007 8 1 Assurance Fund investment with Bills receivable .. .. .. 100 0 0 Public Trustee .. .. .. 23,506 13 7 Consent fees .. .. .. 20 5 6 Audit Department .. .. 200 0 0 Insurance premiums refunded .. 658 17 6 Insurance premiums paid .. .. 645 18 3 Interest on Assurance Fund, Public Interest on deposits .. .. 101 18 10 Trustee .. .. .. 2,391 17 8 Interest on loans .. .. .. 100,366 13 10 Interest on Bank of New Zealand Interest refunded .. .. .. 4 16 current account .. .. .. 517 8 9 Loan charges .. .. .. 20,584 19 7 Interest on loans recalled .. .. 3 17 8 Post Office .. .. .. 800 0 0 Interest on mortgages .. .. 120,731 9 0 Printing and stationery .. .. 137 1 9 Interest on Sinking Fund, Public Release fees, &c, refunded.. .. 6 12 0 Trustee .. .. .. 4,666 10 11 Salaries .. .. .. .. 3,810 18 7 Interest on temporary investments .. 559 15 0 Sinking Fund investment with Public Loans Account .. .. .. 250,000 0 0 Trustee .. .. .. 258,305 3 11 Mortgages and instalments repaid .. 258,305 3 11 Sundries .. .. .. .. 295 14 10 Mortgage-forms .. .. .. 151 0 0 Suspense Account.. .. .. 14,296 14 8 Production fees .. .. .. 217 6 3 Telegrams .. .. .. 10 7 6 Public Trustee, refunds .. .. 225,652 7 0 Temporary investments .. .. 9,393 15 7 Release fees .. .. .. 214 15 6 Valuation Department .. .. 2,500 0 0 Sundries .. .. .. .. 248 11 11 Valuation fees refunded .. .. 225 16 0 Refund of salary .. .. .. 66 13 4 Cash in hand and in bank at Slst Suspense Account.. .. .. 14,308 19 8 March, 1904 .. .. .. 14,978 4 11 Valuation fees .. .. .. 2,163 7 8 £913,985 15 4 £913,985 15 4 Statutory Management Account — Section 50, (2). Receipts. £ s. d. Expenditure. £ s. d. To Bills receivable .. .. .. 100 0 0 By Assurance Fund with Publio Trustee 23,506 13 7 Consent fees .. .. .. 20 5 6 Audit Department .. .. 200 0 0 Insurance premiums refunded .. 658 17 6 Insurance premiums paid .. .. 645 18 3 Interest on Assurance Fund .. 2,391 17 8 Interest on deposits .. .. 101 18 10 Interest on Bank of New Zealand Interest on loans .. .. .. 100,366 13 10 current account.. .. .. 517 8 9 Interest refunded .. .. .. 4 16 Interest on loans recalled .. .. 3 17 8 Post Office .. .. ' .. 800 0 0 Interest on mortgages .. .. 120,731 9 0 Printing and stationery .. .. 137 1 9 Interest on Sinking Fund, Public Release fees, &c, refunded.. .. 6 12 0 Trustee .. .. .. 4,666 10 11 Salaries .. .. .. .. 3,810 18 7 Interest on temporary investments .. 559 15 0 Sundries .. .. .. .. 295 14 10 Mortgage-forms .. .. .. 151 0 0 Telegrams .. .. .. 10 7 6 Production fees .. .. .. 217 6 3 Valuation Department .. .. 2,500 0 0 Refund of salary .. .. .. 66 13 4 Valuation fees refunded .. .. 225 16 0 Release fees .. .. .. 214 15 6 Sundries .. .. .. .. 248 11 11 Valuation fees .. .. .. 2,163 7 8 £132,711 16 8 £132,611 16 8

Statutory Investment Account, showing Moneys invested under the Act — Section 50, (3).

From passing of Act to i For the Vear ended 31st March, 1004. 31st March, 1904. Receipts. £ s. d. £ s. d. 29,486 2 1 229,415 0 5 120,000 0 0 258,305 3 11 225,652 7 0 Balanoe brought forward ttoneys reoeived from Colonial Treasurer, being proceeds of Loans advances Mncipal moneys received, being repayments by mortgagors Sinking Fund moneys received from Public Trustee .. Joneys withdrawn from temporary investment 2,781,533 17 0 625,000 0 0 1,182,661 14 3 1,024,141 9 6 843,333 2 0 Totals £6,456,670 2 9 £862,858 13 5 Payments. Refunds of temporary advances investments on mortgage transfer to Public Trustee of principal moneys repaid by mortgagors .. tloneys temporarily invested Balances 425,000 0 0 3,980,100 0 0 1,182,661 14 3 857,563 14 7 11,344 13 11 120,000 0 0 463,815 0 0 258,305 3 11 9,393 15 7 11,344 13 11 Totals £6,456,670 2 9 £862,858 13 5 Moneys invested under the Act on Slst March, 1904. Advances on mortgage temporary investments, Bank of New Zealand guaranteed stock Pemporary investments, 3 per cent, stock 2,797,438 5 9 4,836 17 0 9,393 15 7 Total £2,811,668 18 4 Statement of Arrears — Section SO, (4), Amount of arrears of prinoipal Amount of arrears of interest 1,589 12 2 6,502 1 5 Total £8,091 13 7

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The foregoing is the statutory balance-sheet drawn up as required by the Audit Office under section 50, (1) to (5), of "The Government Advances to Settlers Act, 1894." John McGowan, Superintendent. P. Heyes, f.s.a.a. Eng., Accountant. Examined and found correct. —J. K. Warburton, Controller and Auditor-General. Balances at 31st March, 1904, being,— Cb. £ s. d. By Investment Account .. .. .. ~ .. .. 11,344 13 11 Suspense Account .. .. .. .. .. .. .. 4,424 2 7 £15,768 16 6 Db. £ s. d. To Cash .. .. .. .. .. .. .. .. 14,978 4 11 Bills receivable .. .. .. .. .. .. .. 790 11 7 £15,768 16 6

Statement of Liabilities and Assets at 31st March, 1904. Liabilities. £ R. d. | Assets. £ b. d. 3-per-cent. loan, redeemable Ist April, Investment Account— 1945, "A" .. .. .. 1,500,000 0 0 Advances on mort-3-per-cent. loan, redeemable Ist April, gage .. .. £3,980,100 0, 0 1945, "B" .. .. .. 500,000 0 0 Less repayments 1,184,251 6 5 Sundry loans .. .. .. 990,000 0 0 2,795,848 18 7 Advances on account of loans .. 200,000 0 0 Temporary investments, Bank of New Assurance Fund .. .. 91,418 10 3 Zealand.. .. .. .. 4,836 17 0 Suspense Account .. .. 4,424 2 7 Temporary investments, 3-per-cent. Aoorued interest payable .. .. 32 12 6 stock .. .. .. .. 9,393 15 7 Profit and Loss Account .. .. 6,221 10 0 Sinking Fund investment with Public Trustee .. .. .. .. 158,520 4 9 Assurance Fund investment with Public Trustee .. .. .. 91,418 10 3 Mortgage instalments receivable—overdue .. .. .. .. 1,589 12 2 Bills receivable .. .. .. 790 11 7 Interest receivable—overdue.. .. 6,502 1 5 Interest receivable—accrued.. .. 29,752 1 1 Loan-flotation oharges .. .. 178,466 3 0 Cash in hand and in bank .. .. 14,978 411 £3,292,096 15 4 £3,292,096 15 4 Statement of Profit and Loss Account for the Year ended 31st March, 1904. Db. £ s. d. Cb. £ g. d. To Management Expenses Account .. 4,891 11 3 By Balance at 31st Maroh, 1903, brought Balance, net profits to forward .. .. .. .. 3,167 11 1 31st March, 1903 .. £3,167 11 1 Interest Account, gross profits .. 31,452 3 9 Net profits for the year ended 31st March, 1904 .. .. 26,560 12 6 29,728 3 7 £34,619 14 10 £34,619 14 10 Transfer to Assurance Fund Aooount.. 23,506 13 7 Balanoe down, net profits .. .. 29,728 3 7 Balanoe, net profits oarried forward .. 6,221 10 0 £29,728 3 7 £29,728 3 7

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Statement of Management Expenses Account for the Year ended 31st March, 1904. Dr. £ s. d. | Cb. £ s. d. To Audit Department .. .. 200 00j By Consent fees .. .. .. .. 20 5 6 Post Office services .. .. .. 800 0 0 Insurance premiums refunded.. .. 12 19 3 Printing and stationery .. 137 1 9 Mortgage forms .. .. .. 151 0 0 Salaries .. :.• .. 3,744 5 3 Production fees .. .. .. 217 6 3 Sundries .. .. .. .. 47 211 Release fees .. .. .. 208 3 6 Telegrams .. 10 7 6 Valuation fees .. .. .. 1,937 11 8 Valuation Department services .. 2,500 0 0i Balance of management expenses transferred to Profit and Loss Account .. 4,891 11 3 £7,438 17 5 £7,438 17 5

Statement of Interest Account for the Year ended 31st March, 1904. Dr. £ s. .d. £ s. d. Cb. £ s. d. To Interest paid on loans .. .. 100,366 13 10 By Interest received on mortgages .. 120,731 9 0 Interest paid on deposits .. 101 18 10 Interest received on temporary investLess accrued interest at 31st ments, etc. .. .. .. 8,139 10 0 March, 1903 .. .. 49 14 1 52 4 9 " 128,870 19 0 Interest on deposits accrued at 31st Less interest overdue and accrued at March, 1904 .. .. .. 32 12 6 31st March, 1903 .. .. 33,217 5 2 Interest refunded .. .. 4 16 Balance of interest transferred to Profit 95,653 13 10 and Loss Account .. .. 31,452 3 9 Interest receivable — overdue at 31st March, 1904 .. .. £6,502 1 5 Interest receivable —accrued at 31st March, 1904 .. .. 29,752 1 1 36,254 2 6 £131,907 16 4 £131,907 16 4 Statement of the Receipts and Expenditure for the Year ended 31st March, 1904. Db. Receipts. £ s. d. ■ Cb. Expenditure. £ s. d. To Cash in hand and in bank at 31st By Advances on mortgage .. .. 463,815 0 0 March, 1903 .. .. .. 33,007 8 1 ' Assurance Fund investment with 23,506 13 7 Bills receivable ... .. .. 100 0 0 Public Trustee Consent fees .. .. .. 20 5 6 j Audit Department.. .. .. 200 0 0 Insurance premiums refunded .. 658 17 6 Insurance premiums paid .. .. 645 18 3 Interest on Assurance Fund, Public Interest on deposits .. .. 101 18 10 Trustee ... 2,391 17 8 Interest on loans .. .. .. 100,366 13 10 Interest on Bank of New Zealand Interest refunded .. .. .. 4 16 current account .. ... 517 8 9 Loan oharges .. .. .. 20,584 19 7 Interest on loans recalled .. .. 317 8 Post Office .. .. .. 800 0 0 Interest on mortgages .. .. 120,731 9 0 Printing and stationery .. .. 137 1 9 Interest on Sinking Fund, Public Release fees, &c, refunded .. .. 6 12 0 Trustee .. .. .. 4,666 10 11 Salaries .. .. .. .. 3,810 18 7 Interest on temporary investments .. 559 15 0 Sinking Fund investment with Public Loans Account .. .. .. 250,000 0 0 Trustee .. .. .. 258,305 311 Mortgages and instalments repaid .. 258,305 3 11 Sundries .. .. .. .. 295 14 10 Mortgage forms .. .. .. 151 0 0 Suspense Account.. .. .. 14,296 14 8 Production fees .. .. .. 217 6 3 Telegrams .. .. .. 10 7 6 Publio Trustee, refunds .. 225,652 7 0 Temporary investments .. .. 9,393 15 7 Release fees .. .. .. 214 15 6 Valuation Department services .. 2,500 0 0 Sundries .. .. .« 248 11 11 Valuation fees refunded .. .. 225 16 0 Refund of salary .. .. .. 66 13 4 Cash in hand and in bank at 31st Suspense Account.. .. .. 14,308 19 8 March, 1904 .. .. .. 14,978 411 Valuation fees .. .. .. 2,163 7 8 £913,985 18 4 £913,985 15 4 John McGowan, Superintendent. Government Advances to Settlers Office, P. Heyes, f.s.a a. Eng., Accountant. Wellington, 31st May, 1904.

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