DEPARTMENT OF LANDS AND SURVEY. DISCHARGED SOLDIERS SETTLEMENT. REPORT FOR THE YEAR ENDED 31st MARCH, 1931.

Appendix to the Journals of the House of Representatives, 1931 Session I-II, C-09

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1931. NEW ZEALAND.

DEPARTMENT OF LANDS AND SURVEY. DISCHARGED SOLDIERS SETTLEMENT. REPORT FOR THE YEAR ENDED 31st MARCH, 1931.

Presented to both Houses of the General Assembly pursuant to Section 14 of the Discharged Soldiers Settlement Act, 1915.

CONTENTS. General Report— page Financial Review .. .. .. .. .. .. 2 Lands proclaimed .. .. .. .. .. .. 3 Applications received and Lands allotted .. .. .. .. 3 Dominion Revaluation Board (Report of) .. .. .. .. 4 Appendix : — Reports of Commissioners of Crown Lands .. .. .. 6 Tables — Table 1. —Total Lands acquired by Discharged Soldiers .. .. 9 Table 2.—Statement of Mortgage Transactions .. .. .. 10 Discharged Soldiers Settlement Account— Transactions for Year .. .. .. .. .. . .12 Balance-sheet , . .. .. .. .. .. 14

Sir, — Department of Lands and Survey, Wellington, Ist July, 1931. In accordance with the provisions of the Discharged Soldiers Settlement Act, 1915, I have the honour to submit herewith the report of the operations under the Act for the year ended 31st March, 1931. I have, &c., W. Robertson, The Hon. E. A. Ransom, Minister of Lands. Under-Secretary.

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FINANCIAL REVIEW. Dischabged Soldiebs Settlement Account. Advances authorized.-—Financial assistance by way of new loans or additional advances has been granted in 790 cases, the total amount authorized, being £202,767. These authorities have been distributed as follows :—

Loan Capital.—The amount of loan capital now stands at £15,523,645 16s. Bd., the amount outstanding against debentures having been reduced by £157,350. It will be seen from the balancesheet published at the end of the report that, while the interest rate to the State on the greater part of the debenture capital is 5| per cent., the rate varies from per cent, to 6 per cent. The Consolidated Fund capital of £10,850,000 bears interest at the rate of 4 per cent. Cash Receipts.—As might be expected, owing to the fall in market prices and unemployment, the receipts for the year have fallen considerably, showing a reduction of £421,316 on the figures for the previous season. The comparative figures for the last five years are :— 1926-27. 1927-28. 1928-29 a 1929-30. 1930-31. £ £ £ £ £ Capital .. 945,293 1,067,392 1,205,892 1,054,123 749,090 Revenue .. 708,391 755,586 757,761 727,703 604,988 Total .. 1,653,684 1,822,918 1,963,653 1,781,826 1,354,078* * Excludes £6,432, Hawke's Bay receipts, not allocated at 31st March on account of earthquake. While the drop is to some extent accounted for by the fall in receipts for payments due, the greater part is represented by the lack of movement in the property market generally, so that the amount received by way of repayments of advances which usually occur in connection with the transfer of properties has been below the average. Sundry Debtors.—Coincident with the fall in cash receipts the outstandings on debtors' accounts for current payments and postponements have increased from £355,547 to £447,271, a net increase of £91,724 for the year. The Department has endeavoured to meet the circumstances of individual mortgagors who have found themselves unable to meet their engagements in full on account of decreased revenue, and farmers are not being displaced at the present time merely because of inability to pay rent, instalments, or interest. It is expected, however, that while many people may not be in the position to meet their payments in full, they should do so to the best of their ability, recognizing that where one falls short an increased burden is thrown upon the general taxpayer. Properties on hand awaiting Selection.—At the end of the year there were 101 leasehold farms previously held by discharged soldiers available for disposal, while 100 farms against which advances had been made to purchase were also awaiting selection. The total area covered by these properties represented 114,890 acres, priced at £175,908. The Department will be pleased to receive offers for any of these farms, about which particulars can be obtained from the Commissioner of Crown Lands for the district, and in some cases loans for development purposes may be considered. In regard to residential properties, there were 189 unsold at the close of the year, valued at £124,625. Of these, 118 were let at a total weekly rental of £111. These houses are available for sale on very easy terms. Revenue Account.—The result of the year's working shows an adverse balance of £234,007, of which some £200,681 represented losses on realization and reductions in value under statutory provisions.

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New Loans. Additional Loans. Number. Amount. Number. Amount. ; i Discharged Soldiers Settlement Act, 1915, section 6— £ £ Advances on current account.. .. .. 68 30,580 600 131,698 Discharged Soldiers Settlement Amendment Act, 1917, section 2 —Advances on farms, &c. .. .. 6 5,360 17 8,742 Advances on dwellings .. .. .. .. 19 11,425 80 14,962 93 47,365 697 155,402

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LANDS PROCLAIMED. The lands set apart for selection by discharged soldiers during the year totalled 1,828 acres, making a grand total of 1,441,618 acres proclaimed since the inception of the scheme. This large area is made up as follows: — , Area. Class of Land. Acres. Ordinary Crown land .. .. .. .. •• 605,611 Land-for-settlements land .. . . .. .. 401,218 National-endowment land .. .. .. •• 431,433 Cheviot Estate land .. .. .. .. • • 3,356 1,441,618 Proclamations have been issued revoking the setting-apart of 230,906 acres of Crown and national-endowment land and 100,710 acres of land-for-settlements land. APPLICATIONS FOR LAND. Applications for land under the Discharged Soldiers Settlement Act, 1915, to the number of forty-one were received during the year. The following table gives the number of applications and the area allotted for each year from the inception of the soldier-settlement scheme : —

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. ,. Allotments made. Applications Year ending "• , — received. Number. Area (Acres). 31st March, 1916 .. .. .. .. 272 2, 629 1917 .. .. .. .. 522 319 143,524 1918 .. .. .. .. 513 313 103,362 1919 .. .. .. .. 1,379 348 117,018 1920 .. .. .. .. 5,041 932 403,891 1921 .. .. .. .. 5,396 1,087 414,867 1922 .. .. .. .. 878 403 97,972 1923 .. .. .. .. 284 146 25,113 1924 .. .. .. .. 216 79 16,910 „ 1925 .. .. .. .. 123 47 9,014 1926 .. .. .. .. 109 86 20,500 ,' 1927 .. .. .. .. 78 66 17,412 1928 .. .. .. .. 96 60 15,695 1929 90 77 13,275 1930 63 53 16,665 1931 .. .. .. .. 41 31 8,495 Totals for sixteen years .. .. 15,101 4,049 1,424,342

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REPORT OF THE DOMINION REVALUATION BOARD.

THE DISCHARGED SOLDIERS SETTLEMENT AMENDMENT ACTS, 1923 AND 1924. Revaluation of Soldier Settlers' Farms and Investigation op Current Account Advances. Further consideration was given during the year to cases which had previously been dealt with by the Board, but in respect of which it was found that additional assistance was required to enable the soldier settlers concerned to continue in successful occupation of their holdings. Many settlers have applied for revaluations, the main reasons advanced being concerned with the low prices that are ruling for primary products. In the opinion of the Board, however, the conditions now obtaining do not warrant any general revaluation, and it is considered that in cases where some relief is necessary the position can as a rule be met by way of postponement or remission of rental or interest charges. The operations of the Board 011 the various accounts as at the 31st March, 1931, are summarized below:— Summary of Operations as at 31st March, 1931. Applications for Revaluation. Number of applications for revaluation received .. .. .. .. .. 5,347 Number of cases dealt with and determinations issued by the Dominion Revaluation Board 5,284 Number of cases not dealt with due to forfeiture or abandonment .. .. .. 63 Total capital invested (comprising capital values of Crown leaseholds and advances under £ section 2, Discharged Soldiers Settlement Amendment Act, 1917) .. .. 17,244,236 Capital dealt with by Dominion Revaluation Board .. .. .. .. 12,528,835 Reduction in capital by Dominion Revaluation Board .. .. .. .. 2,829,718 Reduction in Land and Crown Mortgage Values. £ s. d. Reduction in capital value of leaseholds .. .. .. .. .. 1,983,046 9 6 Reduction in Crown's mortgage (under section 2) .. .. .. .. 846,671 13 2 Total .. .. .. .. .. .. £2,829,718 2 8 % Private Mortgages and Debts. Mortgages and debts- of various descriptions owing by soldier settlers to persons other £ than the Crown .. .. .. .. .. .. .. .. 171,357 Reduction obtained in the above by efforts of Dominion Board .. .. .. 124,859 Percentage of reduction to original debt .. .. .. .. .. .. 72-8 per cent. Private Mortgages and. Debts purchased. £ Original value of mortgages and debts purchased by Crown .. .. .. .. 74,338 Price paid by Crown after negotiation .. .. .. .. .. .. 36,936 Discount obtained and which is credited to settlers.. .. .. .. .. 30,735 Percentage of discount .. .. .. .. .. .. .. .. 41-3 per cent. The difference represents the amount paid by the settlers themselves to successfully complete the negotiations. Remission of Instalment Interest and Rent. £ Granted by Dominion Revaluation Board in respect of arrears as at 30th June, 1923 .. 190,976 Granted by Land Boards on recommendation of Dominion Revaluation Board with respect to payments accruing subsequent to 30th June, 1923 .. .. .. .. 260,816 Total remissions .. .. .. .. .. .. £451,792 Mortgage instalments, rents, &c., automatically written off, due to reduction being retrospective to the Ist July, 1921, or date of title, &c. .. .. .. .. £437,830

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Postponements of Arrears as at 30th June, 1923, granted by Dominion Revaluation Board. £ Rent, principal, and instalment interest for periods up to ten years .. .. .. 316,465 Instalments to end of mortgage term .. .. .. .. .. .. 127,411 Total postponements granted by Dominion Revaluation Board .. .. £443,876 Postponements of payments accruing subsequent to 30th June, 1923, granted by Land Boards on recommendation of Dominion Revaluation Board .. .. .. £149,023 Investigation of Current Accounts under the Discharged Soldiers Settlement Amendment Act, 1924. Number of accounts subject to investigation (approximate) .. .. .. .. 4,915 Current accoiints sustained .. . . .. .. . . .. .. 3,936 Reductions in current accounts (in some of these cases transfers were also made to Suspense Account) .. .. .. .. .. .. .. .. .. 897 Transfers to Suspense Account (apart from those cases where reductions were also made) 82 £ Total capital invested .. .. .. .. .. .. .. 3,222,649 Reduction of capital .. .. .. .. .. .. .. .. 194,607 Transferred to Suspense Account .. .. .. .. .. .. 22,757 Adjustments in Buildings under Land for Settlements Act. £ Original value .. .. .. .. .. .. .. .. 131,560 Amount of reduction .. .. .. .. .. .. .. .. 18,873

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APPENDIX.

REPORTS OF COMMISSIONERS OF CROWN LANDS. NORTH AUCKLAND. (0. N. Campbell, Commissioner of Crown Lands.) Soldier settlers during the past year have, in common with all farmers, felt the effects of restricted incomes, and have consequently had less money available for expenditure in carrying out further development work. The tendency has therefore been to approach the Department for additional assistance to pursue a consistent policy of development both in respect to top-dressing and improvements. Throughout the year the general policy of securing orders for a percentage of settlers' cream cheques sufficient to meet annual charges and gradually reduce the arrears has been consistently followed. Despite the financial difficulties that have prevailed throughout the period, it is pleasing to note that there is a distinct tendency for all mortgagors to face the position, and not readily abandon their holdings as was the case in the depression of 1921. The few rural properties which have reverted to the Crown have been readily disposed of. Transfers of farm properties were not numerous during the earlier portion of the year, but later the demand quickened, and several properties have been transferred in many cases to civilian purchasers. House property has not been greatly in demand. Pending redisposal of the securities, many of the Department's houses are at present let to better types of tenants. Unemployment, wage reductions, and the uncertainty of future conditions have all had a drastic effect on the market for property. Investors are nervous. The average home-seeker is unwilling to incur fresh obligations of a permanent nature, and prefers to rent on weekly or monthly tenancies. Applications for readjustment of mortgage charges are being dealt with as expeditiously as possible, and there will be a tendency for these requests to increase in keeping with wage or salary reductions, &c. AUCKLAND. (K. M. Graham, Commissioner of Crown Lands.) As the majority of soldier settlers in this district are engaged in dairying, the uniformly low prices rilling for butterfat throughout the season has resulted in greatly reduced returns, and though in some of the more favoured localities increased production will to some degree compensate for the low payout by factories, there are a number of cases where it is already apparent that the exceptionally dry spell of weather in mid-summer has caused a fall in production, which cannot be made up by the end of the production year. The exceptionally low average prices for butterfat and wool, combined with the general fall in value of stock in all classes, constitute the chief characteristics of the present season, and in recognition of the extremely critical period through which soldier settlers are passing the Land Board has given close attention and the utmost consideration to all applications for relief by way of postponements of current charges, and to requests for further advances or financial assistance to cover the purchase of manure, and to meet pressing commitments in connection with farm expenditure entered into by settlers prior to the commencement of the season, and which would have been met in the ordinary course out of revenue, but for the slump and continued downward trend of export prices. GISBORNE. (E. H. Farnie, Commissioner of Crown Lands.) A considerable number of cases of postponements of rent are under consideration due to diminished revenue this year, with a few due to the destruction of wool by fire following the earthquake in Napier. Other soldier settlers lost heavily through the destruction of the Wairoa Freezingworks. As far as house properties are concerned, the market has been dead, although no difficulty is experienced in finding tenants. Fortunately, we have only four unlet houses on hand at present, and of these, all but one are sure to be disposed of by way of sale or lease. As a sign of the hard times through which we are passing, it may be mentioned that a number of mortgagors have, for the first time on record, been unable to pay their last instalments on the due date. HAWKE'S BAY. (J. D. Thomson, Commissioner of Crown Lands.) In a few cases the Dominion Revaluation Board further reduced values of sections, but it is apparent that revaluation work is now about finished, and if settlers are anxious to have the value of their holdings reviewed it will be necessary to apply under the provisions of the Land Act. The majority of settlers are now quite satisfied that under normal conditions their values are correct.

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Particulars of the disastrous earthquake which visited the district are given in the report on the settlement of Crown lands. Soldier settlers were badly affected, and in numerous cases their houses were badly damaged, fences down, and land badly opened up with fissures and cracks. The soldier houses in Napier were considerably damaged, in practically every case the chimneys were wrecked, and in a large number of cases serious damage was caused to the structure. In a few cases the houses were wrecked beyond repair. Applications for assistance have been received from upwards of seventy owners, the damage ranging from about £10 to £200. A number of these are applying to the local authorities for assistance. In Hastings and Waipawa the damage was not so serious, being mostly collapsed chimneys. TARANAKI. (W. D. Armit, Commissioner of Crown Lands.) The soldier settlers in this district have faced a very difficult year with courage and patience, and assistance has been granted wherever possible. In nearly every case production has been well maintained and one difficulty existing is to provide the necessary fertilizers for next season. The drop in cash returns is markedly shown in the dairy orders held by the Department, particularly in those cases where cheese-factories are supplied. A great disparity exists between various factories, due to a variety of reasons. In one case heavy reclamations added to low price returns has placed a group of soldier settlers in a most difficult position, and one which calls for special consideration. The fall in wool and stock prices is well known and requires no elaboration. A fair amount of wool is being held in store by various soldier settlers and conservative advances have been made on current account to assist in tiding over a lean period. During the past year nine soldier farm properties have reverted to the Crown through abandonment, forfeiture, or foreclosure, five of which are being farmed temporarily by the Department pending a more favourable market for disposal of stock. Inquiry for dairy farms is fairly constant, but only five properties have been sold, as there is not a great demand for small grazing lots which the farms now on hand mostly comprise. Of properties acquired under the Discharged Soldiers Settlement Act, 353 farms are now held by soldiers and 132 by civilians. House properties held under mortgage number 481. In six cases power of sale was exercised over house properties, whilst four re-sales resulted. The demand for houses is not great, and there are nine dwellings still available for disposal. WELLINGTON. (H. W. C. Mackintosh, Commissioner of Crown Lands.) The farms acquired by discharged soldier settlers both on leasehold under the Discharged Soldiers Settlement Act, 1915, and on freehold under section 2 of the Discharged Soldiers Settlement Act, 1917, are to be found right throughout the district, and the conditions of settlement outlined in the report on ordinary Crown lands apply with equal force to these settlers. A large number of the soldier settlers are on dairy farms, and, while they have not obtained prices up to last season's pay-out, they should still account for round about Is. per pound butterfat, and, at this figure, are in a considerably better position than the wool-grower. The latter farmer has had a very poor year, his wool and stock sales having yielded very little over working-costs. The depression came at an unfortunate time, as most of the soldier settlers were beginning to feel the benefits of the liberal treatment meted out to them by the Dominion Revaluation Board. Some of the postponements granted by that Board are now coming to charge, but many settlers will not be able to meet them, and each case will require to be reviewed by the Land Board. Considerable improvements to their farms have been effected by soldier settlers, and those who have systematically top - dressed have derived considerable benefit in feedsupplies and increased returns. NELSON. (A. F. Waters, Commissioner of Crown Lands.) The prevailing slump in market prices is affecting soldier settlement equally with ordinary settlement. Weather conditions throughout the year have been unsatisfactory and between diminished output and low prices, soldier settlers have had a difficult struggle. The majority view the position cheerfully and are doing their best to make ends meet by the exercise of thrift and economy. There are comparatively few soldier settlers left who are not determined to make a success of their holdings, and, generally speaking, they compare very favourably in farming ability with civilian farmers. A few cases have been reviewed by the Dominion Revaluation Board during the year where the settler's position showed that he was unable to meet the existing liability. The generous treatment afforded by the Board is greatly appreciated by the recipients, and they have all expressed their gratitude at the concessions made them. MARLBOROUGH. (P. R. Wilkinson, Commissioner of Crown Lands.) The dry seasonal conditions, together with the low prices prevailing for dairy and other produce, has hit the soldier settler just as severely as other farmers. Prior to the depression it was thought that most of them would now be on their feet, but quite a lot of adjustment will be necessary to carry them over. It is feared that quite a number of settlers will not be sufficiently financial to continue the good work of top-dressing, and in consequence the returns cannot be expected to be quite as good as formerly.

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The sheep-farmer has suffered a good deal. In some cases the previous year's clip had been carried over with the hope of an increase in value, but did not realize the prices anticipated. However, at the end of the season there was a distinctly better tone in the wool-market, with a more cheerful outlook for the settler. Surplus store sheep Lave been practically unsaleable and the plough has been put to use in an endeavour to carry over the winter. The dry season retarded fattening, but in most cases this class of sheep was disposed of under the reduced prices prevailing. The dwelling properties continue in a satisfactory condition, although unemployment has increased the arrears slightly. Three houses are on hand for disposal. WESTLAND. (T. Cagney, Commissioner of Crown Lands.) Owing mainly to low prices of produce prevailing, particularly throughout the latter part of the period, a number of soldier settlers hitherto regarded as being in a sound position are to-day applying to the Department for concessions. It is evident that, in common with other classes of the community, too much reliance has been placed on the assumption that the hitherto satisfactory prices of farm-produce would be maintained. Soldier settlers engaged in sheep-farming to any extent have been particularly hard hit, with lamb prices showing a deciine of up to 50 per cent, on the previous year's figures, with wool in much the same position. Butterfat-producers, though seriously affected, have not been so hard hit, prices recorded to date showing a drop of approximately one-third on last year's figures. One farm was abandoned during the early part of the year. This could not be attributed to low prices, but to the fact that the settler left to take up lucrative employment elsewhere ; the farm has since been disposed of. In at least two cases the prospects of ultimate success by the settlers are extremely doubtful. Generally, however, soldier settlers are working their farms to the best advantage, and, gaining by experience of present low prices, may, with a reasonable improvement in this item, be expected to recover. CANTERBURY. (W. Stewart, Commissioner of Crown Lands.) Soldier settlers, in common with other farmers, have had a hard year, and it is doubtful whether some of the weaker cases can make arrangements for carrying on any further. The scheme proposed by the Chamber of Commerce should enable those who are in trouble only because of the present reduced value of securities, to weather it; but those who were in difficulties before the present slump will hardly be able to secure credit to carry on through another season. Where the Department is providing finance on current account it seems that in some cases we will be faced with the necessity to increase authorizations in order to keep the farms fully productive, or we will be prejudicing our settlers' prospects for the coming season as well. We have a few current accounts where this additional capital outlay does not appear to be warranted, and in these I see nothing for it but to close the accounts. We have one soldier's section in our light dry plains area where the settler has reached the end of his resources and here it has been suggested that an experiment in irrigation be undertaken, as we have interests in large areas of similar land, where production can be greatly improved if such an experiment proves a success. At the present stage we have not yet been able to get the consent of the local body to increase the supply of water to this section in order to enable the experiment to proceed, but it is hoped this consent will soon be available. OTAGO. (N. C. Kensington, Commissioner of Crown Lands.) There is little to report as regards the soldier settlers. The majority are carrying out their obligations as well as the present financial position will allow, and those who have retained their current accounts for stock transactions with the Crown now recognize the wisdom, as the present position calls for every consideration. The revenue received in many cases is barely enough to meet cost of living and farm expenses, and leaves no room for the reduction of the account. With the Crown as mortgagee or landlord, and holder of the bill of sale over his stock, the soldier settler can regard himself as in an enviable position when he sees the many financial difficulties facing his civilian neighbour. SOUTHLAND. (J. Macdonald, Commissioner of Crown Lands.) With very few exceptions, discharged soldiers' holdings in Southland compare very favourably with those of the older settlers. The returned men have proved themselves to be "capable and progressive, and have been in the forefront of any movement having for its object the improvement of farming methods. Some have taken advantage of the low prices ruling for stock to cull out their flocks and herds, and replace the discarded stock with younger and better animals. It is pleasing to be able to state that not a single soldier's farm has come back into the hands of the Department during the past year.

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TABLE 1. Total Lands acquired from the Crown by Discharged Soldiers and held at the 31st March, 1931.

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Sale (including Deferred Payment). Lease and License. Grand Totals. Number of Land District. Di ™£»se<l- Number il U ,w~S f dumber , er Number soldier f , p . Discharged- t . Annual ot Dis- , , Purchasers Hol Sj n „ a soldier Holdings Rental. charged Hol 5 in „ s and Holdings. Tenants. Uolam = s - Soldiers. Holam 8 s - Licensees. Under the Discharged Soldiers Settlement Act, 1915, and Amendments. Acres. £ Acres. £ Acres. North Auckland .. 15 14 2,625 3,435 291 289 53,171 9,501 306 303 55,796 Auckland .. .. 45 45 1,330 15,690 539 532 87,833 25,260 584 577 89,163 Gisborne .. .. ] 1 29 15 118 116 58,487 13,848 119 117 58,516 Havke's Bay .. .. .. .. .. 226 235 89,790 29,747 226 235 89,790 Taranaki .. .. ] 1 2 310 102 100 25,800 6,936 103 101 25,802 Wellington .. 15 15 87 5,543 727 704 166,773 75,397 742 719 166,860 Nelson .. .. 3 3 1,216 1,292 23 23 14,279 1,615 26 26 15,495 Marlborough .. .. .. .. • ■ 52 51 20.500 4,282 52 51 20,500 Westland .. .. 1 1 148 150 17 17 19,645 193 18 18 19,793 Canterbury .. 26 26 319 8,953 367 361 217,399 39,887 393 387 217,718 Ot a °-o .. .. 6 7 2,156 5,630 128 121 203,613 13,486 134 128 205,769 Southland .. 8 8 1,442 6,840 73 81 11,457 3,941 81 89 12,899 Totals .. 121 121 9,354 47,858 2,663 2,630 968,747 224,093 2,784 2,751 978,101 Under other Acts. (This includes Lands selected at ordinary ballots, leases and licenses purchased at auction, and holdings acquired by transfer or otherwise.) North Auckland .. 11 11 1,168 1,304 107 104 24,103 3,506 118 115 25,271 Auckland.. .. 49 47 22,754 20,503 339 310 145,646 7,261 388 357 168,400 Gisborne .. .. 2 2 76 2,545 45 42 36,007 4,439 47 44 36,083 Hawke's Bay .. .. .. -■ •• 43 44 14,733 3,694 43 44 14,733 Taranaki .. .. 6 6 1,898 12,077 154 145 65,453 3,739 160 151 67,351 Wellington .. .. .. .. 156 151 54,726 34,437 156 151 54,726 Nelson .. .. 3 3 1,099 586 95 90 51,512 1,491 98 93 52,611 Marlboroxiah .. .. .. .. .. 118 109 268,837 6,807 118 109 268,837 Westiand 7. .. 1 1 200 168 66 62 16,992 358 67 63 17,192 Canterbury .. 3 3 56 386 213 221 151,752 22,161 216 224 151,808 Otago .. .. 2 2 66 337 232 225 915,854 23,317 234 227 915,920 Southland.. .. 1 1 127 40 39 40 72,922 2,123 40 41 73,049 Totals .. 78 76 27,444 | 37,946 1,607 1,543 1,818,537 113,333 1,685 1,619 1,845,981 Grand totals 199 197 36,798 j 85,804 4,270 4,173 2,787,284 337,426 4,469 4,370 2,824,082

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TABLE 2. Statement of Mortgage Transactions, Financial Year ended 31st March, 1931.

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Principal. Interest. District Balance at ! Tmnfprq Balance on Mortgage Balance at Losses, Rebates, ! Balance at 31st March, 1930, Advances j Repayments Realization and at 31st March, 1931, 31st March, 1930, Charges Receipts Remissions, 31st March, 1931, including during Year. j during Year. other Accounts including Post- including Post- during Year. during Year. and Transfers to including Postponements. I ' ponements. ponements. ] other Accounts. Postponements. North Auckland — £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. ! £ s. d. £ s. d. £ s. d. Current Account. .. .. 374,149 16 6 62,591 7 10 32,299 18 1 38,213 6 3 366,228 0 0 13,140 0 11 18,328 0 4 15,150 3 6 971 1 2 15,346 16 7 Farms, orchards, &c. .. .. 1,203,341 15 4 6,930 0 0 17,723 2 7 Dr.33,623 9 6 1,226,172 2 3 43,278 17 3 62,062 18 0 47.143 14 1 11,071 9 7 47,126 11 7 Dwellings, business premises, &c. .. 1,728,813 16 3 1,390 4 11 66,376 0 6 19,670 2 8 1,644,157 18 0 6,765 17 2 86,660 6 0 j 78,575 13 2 8,204 11 5 6,645 18 7 Totals.. .. .. 3,306,305 8 1 70,911 12 9 116,399 1 2 24,259 19 5 3,236,558 0 3 6.3,184 15 4 167,051 4 4 140,869 10 9 20,247 2 2 69,119 6 9 Auckland — Current Account .. .. 408,227 1 4 I 90,673 7 8 46,785 6 11 58,037 17 6 394,077 4 7 10,144 6 2 20,463 10 7 18,185 4 5 1,313 11 11 11,109 0 5 Farms, orchards, &c. .. .. 1,006,936 7 5 j 5,207 16 6 19,716 11 2 Dr.49,985 2 2 1,042,412 14 11 I 19,389 1 5 53,695 7 10 25,850 8 4 22,786 12 4 24,447 8 7 Dwellings, business premises, &c. .. 368,529 7 5 j 1,120 0 4 14,895 15 8 Dr. 6,101 5 3 360,854 17 4 1,318 6 6 18,728 8 10 34,349 17 4 Dr.15,612 18 3 1,309 16 3 Totals.. .. .. 1,783,692 16 2 j 97,001 4 6 81,397 13 9 1,951 10 1 1,797,344 16 10 30,851 14 1 92,887 7 3 78,385 10 1 8,487 6 0 36,866 5 3 Hawke's Bay — ; i Current Account .. .. 178,323 19 9 32,105 19 3 24,375 16 6 24,148 12 4 161,905 10 2 4,694 14 9 8,382 16 1 4,113 2 7 225 2 11 8,739 5 4 Farms, orchards, &c. .. .. 313,365 1 8 .. 5,294 19 1 ZV.20,962 8 7 329,032 11 2 4,661 8 0 17,128 11 6 9,317 9 2 2,694 4 10 9,778 5 6 Dwellings, business premises, &c. .. ! 332,407 18 10 1,663 12 6 14,157 10 8 Dr. 593 5 7 320,507 6 3 785 2 0 16,974 16 8 14,141 1 11 1,424 7 11 2.194 8 10 Totals.. .. .. 824,097 0 3 33,769 11 9 | 43,828 6 3 2,592 18 2 811,445 7 7 10,141 4 9 42,486 4 3 27,571 13 8 4,343 15 8 20,711 19 8 Gisborne — Current Account .. " " .. 36,548 4 5 11,819 0 4 4,911 6 3 3,174 8 5 40,281 10 1 580 17 5 1,991 13 5 1,500 13 3 Dr. 2 8 8 1,074 6 3 Farms, orchards, &e. .. " .. 168,007 12 2 .. 3,410 11 8 Dr. 2,429 0 7 167,026 1 1 1,929 9 7 8,888 14 1 6,487 5 0 773 13 4 3,557 5 4 Dwellings, business premises, &c. .. 141,935 7 0 300 0 0 5,126 0 8 984 6 5 136,124 19 11 331 2 5 7,241 14 8 6,505 5 10 723 5 11 344 5 4 Totals.. .. .. 346,491 3 7 12,119 0 4 13,447 18 7 1,729 14 3 343,432 11 1 2,841 9 5 18,122 2 2 14,493 4 1 1,494 10 7 4,975 16 11 Taranaki — Current Account .. .. 155,445 11 6 68,176 13 3 51,173 9 6 19,099 19 3 153,348 16 0 3,522 7 5 8,307 0 3 6,720 4 9 537 6 0 4,571 16 11 Farms, orchards, &c. .. .. 696,392 14 10 723 1 1 12,616 5 9 Dr. 18,732 0 8 703,231 10 10 11,254 8 1 35,716 5 3 j 27,299 3 10 3,369 2 0 16,302 7 6 Dwellings, business premises, &c. .. 296,687 6 7 341 3 4 12,386 8 5 1,077 18 5 283,564 3 1 259 15 1 15,060 6 0 j 13,845 14 4 1,052 5 0 422 1 9 Totals.. .. .. 1,148,525 12 11 69,240 17 8 76,176 3 8 1,445 17 0 1,140,144 9 11 15,036 10 7 59,083 11 6 47,865 2 11 4,958 13 0 21,296 6 2 Wellington — Current Account .. .. 380,076 14 9 80,096 12 7 55,591 11 1 S 32,449 11 1 372,132 5 2 12,119 10 8 18,726 8 2 15,507 0 8 1,844 10 9 13,494 7 5 Farms, orchards, &c. .. .. 863,934 18 10 1,537 11 0 17,759 7 5 6,598 17 6 841,114 4 11 14,852 3 6 42,092 11 11 29,406 5 9 4,198 4 8 23,340 5 0 Dwellings, business premises, &c. .. 1,233,620 16 11 12,430 19 11 60,813 4 9 i>.21,769 4 3 1,207,007 16 4 1,177 16 7 64,217 8 1 57,815 19 5 5,383 3 0 2,196 2 3 Totals.. .. .. 2,477,632 10 6 94,065 3 6 134,164 3 3 17,279 4 4 2,420,254 6 5 28,149 10 9 125,036 8 2 102,729 5 10 11,425 18 5 39,030 14 8

C.—9.

11

Marlborough — Current Account .. .. 34,607 6 6 5,563 9 2 4,783 9 0 4,281 7 3 31,105 19 5 1,740 17 4j 1,652 0 2 964 17 1 406 13 11 2,021 b U Farms orchards. &c. ... .. 213,266 5 7 200 0 0 2,325 2 6 7,079 8 11 204,061 14 2 6,605 17 11 ; 10,735 14 11 5,683 6 1 3,926 17 1 7,731 9 8 Dwellings, business premises, &c. .. 81,405 4 2 10 0 0 4,039 11 10 320 10 2 77,055 2 2 125 12 10 | 4,095 8 0 3,747 7 2 325 .16 10 147 16 .10 Totals.. .. .. 329,278 16 3 5,773 9 2 11,148 3 4 11,681 6 4 312,222 15 9 8,472 8 1 16,483 3 1 10,395 10 4 4,659 7 10 9,900 13 0 Nelson — Current Account .. .. 66,008 13 7 9,335 5 7 6,971 16 4 5,653 9 7 62,718 13 3 1,740 14 7 3,244 8 2 2,292 19 10 \Dr. 180 3 5 2,872 6 4 Farms, orchards, &c. .. .. 322,785 2 6 150 0 0 5,992 12 11 11,718 6 9 305,224 2 10 6,246 17 4 15,857 18 11 12,046 9 9 2,656 1 5 7,402 5 1 Dwellings, business premises, &c. .. 54,956 0 3 300 0 0 3,442 2 1 450 11 11 51,363 6 3 114 17 8 2,662 0 1 2,505 3 3 ; 136 18 9] 134 15 9 Totals.. .. .. 443,749 16 4 9,785 5 7 16,406 11 4 17,822 8 3 419,306 2 4 8,102 9 7 j 21,764 7 2 16,844 12 10 2,612 16 9 10,409 7 2 Westland — Current Account .. .. 20,910 9 10 4,066 10 0 2,868 18 6 1,209 5 5 20,898 15 11 652 3 10 1,024 7 1 766 0 7 Dr. 40 9 0 950 19 4 Farms, orchards, &c. .. .. 72,574 7 4 .. 1,580 17 7 Dr. 445 16 9 71,439 6 6 1,788 13 0 ; 3,639 3 11 2,336 19 2 490 6 0 2,600 11 9 Dwellings, business premises, &c. .. 17,659 7 10 900 0 0 786 12 0 8 6 6 17,764 9 4 62 18 10 917 19 2 790 .10 9 75 12 0 1.14 15 3 Totals.. .. .. 111,144 5 0 4,966 10 0 5,236 8 1 771 15 2 110,102 11 9 2,503 15 8j 5,581 10 2 3,893 10 6 525 9 0 3,666 6 4 Canterbury — Current Account .. .. 153,510 12 0 91,593 2 6 77,010 12 1 11,982 1 6 156,111 0 11 4,553 10 10 7,411 14 4 4,844 6 11 Dr. 92 1 10 7,213 0 1 Farms, orchards, &c. .. .. 904,710 14 10 7,092 1 10 16,545 2 9 Dr.10,090 10 4 905,348 4 3 17,204 0 4 47,100 11 3 33,320 8 1 7,318 8 3 23,665 15 3 Dwellings, business premises, &c. .. 944,866 4 7 3,224 7 9 42,910 18 11 1,547 0 4 903,632 13 1 1,888 4 9 47,528 13 4 42,713 14 6 3,931 10 10 2,771 12 9 Totals.. .. .. 2,003,087 11 5 101,909 12 1 136,466 13 9 3,438 11 6 1,965,09118 3 23,645 15 11 102,040 18 11 80,878 9 6 11,157 17 3 33,650 8 1 Otago — ! ! Current Account .. .. 54,030 3 11 17,262 16 1 8,973 8 9 ! 5,924 10 10 56,395 0 5 1,798 11 4 2,747 10 8 1,868 4 2 314 4 7 2,363 13 3 Farms, orchards, &c. .. .. 313,478 14 9 2,645 0 0 7,597 8 4 Dr. 3,629 6 4 312,155 12 9 4,632 2 4 16,142 3 0 10,595 10 0 1,418 12 6 8,760 2 10 Dwellings, business premises, &c. .. 318,618 5 5 2,930 0 0 19,964 1 6 Dr. 62 11 1 301,646 15 0 396 0 5 ! 15,802 1 3 14,586 16 7 1,169 3 10 442 1 3 Totals.. .. .. 686,127 4 1 22,837 16 1 36,534 18 7 2,232 13 5 670,197 8 2j 6,826 14 1 34,69114 11 27,050 10 g| 2,902 0 11 11,565 17 4 Southland — Current Account .. .. 99,836 11 9 28,924 19 6 18,674 13 9 10,002 2 9 100,084 14 9 3,201 11 1 4,939 3 2 3,344 18 11 45 16 6 4,749 18 10 Farms, orchards, &c. .. .. 351,175 9 10 .. 5,349 5 1 'Dr. 9,487 .13 10 355,313 18 7 9,594 3 10 ! 17,842 15 7 12,987 9 3 1,338 18 7 13,110 11 7 Dwellings, business premises, &c. .. 123,534 1 3 260 0 0 6,799 18 9 ; 566 11 10 116,427 10 8 170 8 7 6,185 2 2 5,664 0 7 487 0 7 204 9 7 Totals .. .. .. 574,546 2 10 29,184 19 6 30,823 17 7 1,081 0 9 571,826 4 0 12,966 3 6 | 28,967 0 11 j 21,996 8 9 1,87115 8 18,065 0 0 Name of Account. Summary. Current Account .. .. .. 1,961,675 5 10 502,209 3 9 334,420 6 9 214,176 12 2 1,915,287 10 8 57,889 6 4 97,218 12 5 ! 75,257 16 8' 5,343 4 10 74,506 17 3 Farms, orchards, &c. .. .. 6,429,969 5 1 24,485 10 5 115,911 6 10 ;X>r.l23,988 15 7 6,462,532 4 3 141,437 2 7 330,902 16 2 222,474 8 6, 62,042 10 7187,822 19 8 Dwellings, business premises, &c. .. 5,643,033 16 6 | 24,870 8 9 251,698 5 9 Dr. 3,900 17 11 5,420,106 17 5 13,396 2 10 286,074 4 3 |275,241 4 10 | 7,300 17 10 16,928 4 5 Grand totals .. .. 14,034,678 7 5 551,565 2 11.702,029 19 4 86,286 18 8 13,797,926 12 4 212.722 11 9 714,195 12 10 J572, 973 10 0 74,686 13 3279,258 1 4 I ! ! |

c.—9

DISCHARGED SOLDIERS SETTLEMENT ACCOUNT. Receipts and Payments Account foe Year ended 31st March, 1931. Receipts. Payments. Balance at Ist April, 1930— £ s. d. £ s. d. Annual appropriation—Vote, Expenses of manage- £ s. d. Cash .. .. .. 211,859 7 0 ment .. .. .. .. .. 39,956 9 9 Imprests outstanding .. 3,722 12 3 Expenditure under section 9 of the Discharged Investment Account .. 24,640 17 0 Soldiers Settlement Act, 1915 — . 240,222 16 3 Miscellaneous expenditure on Credits in reduction of expenditure under sec- properties acquired by £ s. d. tion 9, Discharged Soldiers Settlement Act, Crown .. .. .. 1,858 6 4 1915— £ s. d. Printing and stationery .. 249 18 2 Transfer and production fees 440 13 7 Travelling-expenses of InspeeValuation fees .. .. 113 9 0 tors of Securities .. 269 14 5 Miscellaneous recoveries on Valuation expenses .. 128 4 I properties acqui re d by Pees refunded .. .. 19 16 0 Crown .. .. .. 308 0 7 Audit fees .. .. 700 0 0 Sale of plant .. .. 36 8 8 ' Miscellaneous .. .. 0 2 9 Receipts during year on ac- Payments to Land for Settlecount, Mataikona Estate .. 125 0 0 ments Account of moneys Sundries .. .. .. 1.174 4 2 received from Ist April, 2,197 16 0 1930, to 31st March, 1931, Repayments in respect of advances under sec- on account Mataikona tions 6 and 9, Discharged Soldiers Settlement Estate .. .. .. 125 0 0 Act, 1915— £ s. d. 3,351 1 9 Current Account .. .. 334,618 4 8 Advances under sections 6 and 9of the Discharged Farms, orchards, &c. .. 115,561 12 1 Soldiers Settlement Act, 1915 — Dwellings, business premises, Advances— £ s. d. &c. .. .. .. 251,701 2 7 Current Account .. 498,379 5 2 Buildings Account.. .. 573 4 3 Farms, orchards, &c. .. 24,485 10 5 Sale of live and dead stock .. 390 10 5 Dwellings, business preMiscellaneous advances .. 1,963 19 I mises, &e. .. .. 24,970 8 9 Receipts on account of pro- Miscellaneous advances .. 2,368 7 7 perties acquired by Crown Capital expenditure on profreehold, £8,259 7s. lid.; perties acquired by leasehold, £1,208 Bs. Bd.) .. 9,467 16 7 Crown— Receipts on account of pro- Freehold .. .. 3,937 17 6 perties in course of realiza- Leasehold .. .. 92 4 1 tion .. .. .. 6,871 14 0 Expenditure in respect of proRecovery of loss previously perties in course of realizawritten off .. .. 74 13 4 tion .. .. .. 6,196 111 Miscellaneous .. .. 184 13 10 Expenditure to provide waterSundry debtors —Miscellaneous 128 9 5 supply for McGregor Block 915 0 8 721,536 0 3 Payments of instalments on Interest in respect of advances under sections 6 State Advances Department and 9, Discharged Soldiers Settlement Act, mortgages .. .. 18 0 8 1915— £ s. d. Purchase of live-stock .. 15 0 0 Current Account .. .. 75,205 15 7 Sundries .. .. .. 1,176 0 1 Farms Account .. .. 222,437 14 0 562,554 6 0 Dwellings Account .. 275,227 4 10 Interest on transfers from the Consolidated Fund 289,333 6 8 Buildings Account .. 820 19 8 Interest on loans recouped to Consolidated Fund 258,226 18 6 Miscellaneous .. .. 15 18 8 Stamp duty on transfers of consolidated stock .. 103 10 5 573,707 12 9 Management charges of consolidated stock .. 78 13 5 Discharged Soldiers Settlement Amendment Act, Suspense Account — Amounts 1921-22, sections 4,11, and 13 —Sundry debtors allocated — £ s. d. for rent .. .. .. .. .. 17,606 5 7 Fire Loss Suspense Account.. 18,230 14 3 Merged transactions under section 20, Discharged Suspense Account .. .. 4,545 7 7 Soldiers Settlement Amendment Act, 1923 — 22,776 1 10 Section 20 (3) — £ s. d. Securities redeemed .. .. .. .. 157,350 0 0 Principal instalments .. 479 11 0 Recoupment to Consolidated Fund of cost of Interest instalments .. 1,561 0 8 exchange on cash remitted to London for Section 20 (4) —Properties in investment .. .. .. .. 1,038 16 9 course of realization .. 3,118 0 0 Balance at 31st March, 1931— £ s. d. Section 20 (5) —Principal in- Cash .. .. .. 199,766 11 1 stalments, &c. .. .. 1,399 16 9 * Imprests outstanding .. 7,624 10 6 6,558 8 5 Investment Account .. 52,140 17 0 Interest on investments .. .. .. 10,055 11 9 259,531 18 7 Interest on temporary transfers to other accounts 20 16 5 Suspense Account —Receipts awaiting allocation — £ s. d. Fire Loss Suspense Account 17,815 17 3 Suspense Account .. .. 4,579 19 0 22,395 16 3 £1,594,301 3 8 £1,594,301 3 8

12

C.—9

DISCHARGED SOLDIERS SETTLEMENT ACCOUNT —continued. Revenue Account for Year ended 31st March, 1931. Dr. £ s. d. Cr. To Interest accrued, on transfer from Consolidated By Interest on advances— £ s. d. £ s. d. Fund .. .. .. .. 434,000 0 0 Current account .. 97,218 12 5 Interest accrued on debentures .. .. 254,275 16 9 Farms, orchards, &c. .. 330,902 16 2 Rebates .. .. .. .. 42,176 13 5 Dwellings,business premises, Management expenses .. .. .. 39,950 0 0 &e. .. .. .. 286,074 4 3 Remissions of rent and interest— £ s. d. Miscellaneous .. .. 2,933 6 0 Land Board recommenda- • — 717,128 18 10 tions .. .. 10,142 4 7 Rents and royalties from properties acquired Remissions under Deterior- by Crown .. .. .. .. 28,543 12 0 ated Land Act, 1925 .. 687 1 5 Interest on surplus funds temporarily invested 7,706 8 8 Dominion Revaluation Interest on investment in Public Debt ReBoard remissions .. 5,185 4 4 demption Fund .. .. .. 1,727 15 0 16,014 10 4 Profit on disposal of properties .. .. 592 10 3 Reductions in value of se- Profit on disposal of plant .. .. 12 12 10 curities — Recoveries of losses previously written off .. 1,058 0 0 Losses written off —Writ- Transfer and production fees .. .. 422 3 7 ings-off in Suspense .. 174,988 11 9 Valuation fees .. .. .. .. 109 15 6 Losses written off under sec- Balance —Loss for year, carried down .. 234,007 15 6 tion 4, Discharged Soldiers Settlement Amendment Act, 1924 .. .. 227 0 2 Amount written off capital value of leases under sections 4 and 5, Discharged Soldiers Settlement Amendment Act, 1921-22 430 0 0 Reduction by Dominion Revaluation Board under section 9, Discharged Soldiers Settlement Amendment Act, 1923 .. 16,238 16 8 Reductions by Dominion Revaluation Board under section 3 (5), Discharged Soldiers Settlement Amendment Act, 1924 .. 6,600 0 0 Reductions under section 216, Land Act, 1924 .. 2,196 7 5 — 200,680 16 0 Miscellaneous expenses, &c.— Audit fees .. .. .. .. 700 0 0 Commission on sale of properties 13 15 7 Depreciation on plant, &c. .... 77 4 5 Incidental expenditure in connection with properties acquired .. .. .. 1,570 18 5 Printing and stationery .. .. 272 12 4 Recoupment to Consolidated Fund of cost of exchange on cash remitted to London for investment.. .. .. .. 1,038 16 9 Stamp duty and management expenses in connection with consolidated stock .. 182 3 10 Travelling-expenses of Inspectors of Securities .. .. .. .. 238 0 7 Valuation expenses .. .. .. 118 3 9 £991,309 12 2 £991,309 12 2 £ s. d. £ s. d. To Balance —Loss for year, brought down .. 234,007 15 6 By Transfer from Reserve for losses on abandoned Balance forward from previous year .. 42,453 211 holdings .. .. .. .. 81,202 3 0 Adjustment Account, previous year's .. 714 9 Transfer from General Reserve .. .. 26,849 0 9 Balance—Accumulated loss to 31st March, 1931 .. .. .. .. 168,417 9 5 £276,468 13 2 £276,468 13 2

13

C.—9

DISCHARGED SOLDIERS SETTLEMENT ACCOUNT—continued. Balance-sheet as at 31st March, 1931. Liabilities. Assets. Capital — £ s. d. £ s. d. Advances on mortgages — £ s. d. £ s. d. Transfer from Consoli- Current account .. 1,915,287 10 8 dated Fund at 4 per Current Advances Suspense cent. .. .. 13,500,000 0 0 —Section 3 (3) (6) DisReduction under section charged Soldiers Settle--22, Finance Act, 1927 ment Amendment Act, (No. 2) .. .. 2,650,000 0 0 1924 .. .. 230 0 0 Farms, orchards, &c. .. 6,363,913 0 9 10,850,000 0 0 Dwellings, business preDepreciation Fund .. 46,160 0 0 mises, &e. .. .. 5,378,559 16 6 Debentures issued (at 13,657,990 7 11 2 A per cent., £200,000 ; Land leased under sections 4 and 5, Discharged 4 per cent., £21,200; Soldiers Settlement Amendment Act, 1921-22 448,728 18 9 5 per cent., £255,495 Buildings —Unpaid purchase-price (not yet 16s. Bd. ; 5i per cent., payable) of buildings on Crown properties .. 24,019 16 10 £4,117,790; 6 per cent., Sundry advances merged with value of Crown £33,000) .. 4,627,485 16 8 lands (section 20, Discharged Soldiers 15,523,645 16 8 Settlement Amendment Act, 1923) .. 39,530 10 4 Sundry creditors for Deferred payment sales under section 9, Disinterest— charged Soldiers Settlement Amendment Interest due and unpaid Act, 1921-22 .. .. .. .. 1,530 0 0 on debentures .. 2,607 13 1 Water-supply, McGregor Block—Cost to be Interest due and unpaid allocated to settlers .. .. .. 915 0 8 on amount transferred Realization Account —Properties in course of from Consolidated Fund 144,666 13 4 realization .. .. .. .. 197,487 16 6 Interest accrued on de- Properties acquired by Crown £ s. d. bentures at 31st March, Freehold .. .. 270,532 19 0 1931 .. .. 50,035 19 5 Leasehold .. .. 104,182 17 3 Interest accrued on o amount transferred Live and dead stock .. .. 378 J 3 from Consolidated Machinery and plant .. 202 2 6 Fund 35,671 4 8 Less Depreciation Reserve 103 10 0 232,981 10 6 98 12 6 Sundry creditors—Miscel- Office requisites :. .. 4 10 1 laneous services— Less Depreciation Reserve 3 o 2 Imprests outstanding .. 7,624 10 6 1 4 11 Departmental .. 22 14 2 Sundry debtors for principal Sundries .. . • 408 4 5 • instalments — 8,055 9 1 Farms Account .. 67,635 19 9 State Advances Office —Mortgages taken over 1,332 0 0 Dwellings Account .. 41,373 6 0 Miscellaneous credit balances — £ s. d. Section 20 (3), Discharged Advances on current ac- Soldiers Settlement count .. .. 907 14 9 Amendment Act, 1923J, 4 10 Interest on current ac- Buildings Account .. 527 8 0 count .. 333 0 7 110,307 18 7 Principal instalments, Sundry debtors for interestFarms Account .. 561 7 5 Current Account .. 70,578 8 7 Interest instalments, Farms Account .. 117,181 4 5 Farms Account .. 2,562 13 1 Dwellings Account .. 16,722 9 7 Principal instalments, Section 20 (3), Discharged Dwellings Account .. 518 12 0 Soldiers Settlement Interest instalments, Amendment Act, 1923.. 3,548 1 1 Dwellings Account .. 662 5 5 Buildings Account .. 614 11 6 Principal instalments, Interest due on deferred Buildings Account .. 35 4 0 payment sales .. 27 14 1 Sundry Debtors for Rent Miscellaneous .. .. 35 0 b Account .. .. 338 711 208,707 9 9 Miscellaneous.. .. 8 14 9 Sundry debtors for— 5,927 19 11 Rent of properties .. 17,713 17 10 Rents charged in advance .. .. .. 5,456 16 2 Miscellaneous advances .. 980 10 6 Suspense Account —Receipts not yet allocated 4,274 12 2 Sale of stock and impleFire Loss Suspense Account .. •• 6,022 9 0 ments .. .. 102 10 0 Realization Suspense Account —Surpluses on Sundries .. .. -78 14 realization of properties not yet allocated .. 102 9 1 J9,0/o 1- o Writings-off in Suspense .. •• 111,877 19 8 Postponements— Liabilities discharged under section 22 of the Instalments of principal Finance Act, 1927 (No. 2), to write off Farms Account .. 30,983 3 9 accumulated losses, as per contra .. .. 3,969,759 10 11 Dwellings Account .. 173 14 11 Buildings Account .. 61119 Interest — Current account .. 3,928 8 8 Farms Account .. 70,641 15 3 Dwellings Account .. 205 14 10 Buildings Account .. 166 4 7 Debtors for Rent Account 3,019 15 2 109,180 8 11 Carried forward .. .. 19,869,436 13 2 Carried forward .. 15,192,668 3 7

14

0.—9.

DISCHARGED SOLDIERS SETTLEMENT ACCOUNT—continued. Balance-sheet as at 31st March, 1931 —continued. Liabilities. £ s. d. Assets. £ s. d. Brought forward .. .. 19,869,436 13 2 Brought forward .. .. 15,192,668 3 7 Interest due and unpaid on surplus funds temporarily invested .. .. .. 490 110 Interest, &c., on advances accrued but not due 113,858 11 5 Interest on investments accrued but not due.. 479 12 5 Losses in Suspense Account .. .. 111,877 19 8 Investment in Public Debt Redemption Fund 44,921 8 6 Debentures securities .. .. .. 1,000 0 0 Cash in deposits—Miscellaneous (cash received at Napier during earthquake period) .. 6,431 16 10 Cash balance— £ s. d. In Public Account .. 199,766 11 1 Imprests outstanding .. 7,624 10 6 Investment Account .. 52,140 17 0 259,531 18 7 Revenue Account —Accumulated loss .. 168,417 9 5 Accumulated losses written off under section 22 of the Finance Act, 1927 (No. 2) .. .. 3,969,759 10 11 £19,869,436 13 2 £19,869,436 13 2 W. Robertson, Under-Secretary for Lands. W. E. Shaw, Accountant. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.— G-. F. C. Campbell, Controller and Auditor-General.

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