DEPARTMENT OF LANDS AND SURVEY. DISCHARGED SOLDIERS SETTLEMENT. REPORT FOR THE YEAR ENDED 31st MARCH, 1932.

Appendix to the Journals of the House of Representatives, 1932 Session I-II, C-09

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1932. NEW ZEALAND.

DEPARTMENT OF LANDS AND SURVEY. DISCHARGED SOLDIERS SETTLEMENT. REPORT FOR THE YEAR ENDED 31st MARCH, 1932.

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

CONTENTS. General Report— page General Review .. .. .. .. .. .. 2 Lands proclaimed .. .. .. .. .. .. 3 Applications received and Lands allotted .. .. .. 3 Dominion Revaluation Board (Report of) .. .. .. 3 Appendix :— Reports of Commissioners of Crown Lands .. .. .. 5 Tables — Table I. —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 August, 1932. 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, 1932. I have, &c., W. Robertson, The Hon. E. A. Ransom, Minister of Lands, Under-Secretary.

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GENERAL REVIEW. Dischakged Soldieks Settlement Account. Loans authorized during the year numbered 817, involving a total amount of £134,183, as follows :—

The accounts published at the end of this report reflect the troublous times the Dominion has been passing through, and a great part of the administration has centred round problems connected with keeping settlers on their farms. The prevailing unemployment and reduction in incomes has in many cases raised difficulties in the matter of payment of instalments by those mortgagors holding residential properties, but where the circumstances have justified relief the Department has endeavoured to ease the burden as much as possible by suspending for a time the payment of the principal part of instalments falling due or by readjusting mortgages in the direction of extending the term for repayment on a lower instalment basis. As might be expected, the amounts outstanding on sundry debtors and postponement accounts have increased, having risen from £447,271 at 31st March, 1931, to £661,651 at 31st March, 1932. Cash receipts for the year have also fallen by £158,246 below those of the previous year. The comparative figures of cash receipts on Capital and Revenue Accounts for the last five years are : — 1927-28. 1928-29. 1929-30. 1930-31. 1931-32. £ £ £ £ £ Capital .. 1,067,392 1,205,892 1,054,123 749,090 668,396 Revenue .. 755,586 757,761 727,703 604,988 527,436 Total .. 1,822,978 1,963,653 1,781,826 1,354,078 1,195,832 The reports received from the various land districts show that our soldier settlers are meeting the difficulties of the times with an admirable spirit, and are as a rule doing their best with their land in an endeavour to meet their obligations and to better their own position. It may be thought by some that the administration of discharged soldier settlement should now be more or less a routine matter. This is, however, very far from being the case, and the Department holds the opinion that soldier settlement is as yet a long way removed from the stage where the role to be played by the controlling authority becomes principally that of a collector of rent and interest. It would seem, indeed, that the State's obligation to many of these men and their families has not been met by placing them on the land and by carrying on up to the present point. Sympathetic guidance and control will be needed for years yet in a great many cases if the great work which was begun by the passing of the Discharged Soldiers Settlement Act of 1915 is to be completed in a fitting manner. The Department has gained an intimate knowledge of the special problems of soldier settlers through long and close association with their affairs, and is endeavouring to use that knowledge in the best interests of the settlers and the State. The administration of soldier current accounts still presents considerable difficulties. Where advances have been made for improvements and chattels, transfers have been made to table mortgage of sucli part of the account as has been considered advisable in order to provide for the gradual repayment of advances. The current account has, however, still been retained against security of stock and chattels for the balance of the advances not so transferred to table mortgages. The operation of current accounts in general is fairly well known, but there is considerable difference between those operated by a firm which is fundamentally interested in trading in stock and produce, and those dealt with bv the Department on behalf of discharged soldiers. The Department has assisted these men from the commencement; has helped them to develop their farms ; to build up their flocks and herds ; and to cultivate their land for crops. This has been done not with any idea of profit, but with the primary purpose of establishing returned men in homes on the land. The Department's interest (financial and otherwise) extends further than that ordinarily obtained from farm trading. Its field officers are available to help and to report on all aspects relating to the farm, its maintenance, possible development, &c. Being in the position to control farm revenues, and, through its local officers, to view the situation as a whole from the standpoint of landlord or land and stock mortgagee, the Department is able to decide to what extent each of the accounts of any settler may be improved without impairing the efficiency of the farm, and with the least interference and worry to the settler. Advances have been, made in most cases without any great margin of security. Many of the accounts are not yet too sound, and many others cover one-man farms where there is in ordinary times little more than a bare living, so that a constant and close watch over them and the farming methods adopted is necessary.

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New Loans. Additional Loans. Number. Amount. Number. 1 Amount. I L I £ £ Advances on current account .. .. .. 60 24,040 534 83,819 Advances on farms, &c. .. .. . . . . 2 580 22 7,434 Advances on dwellings .. .. .. .. 7 2,374 192 15,936 69 26,994 748 107,189

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LANDS PROCLAIMED. The lands set apart for selection by discharged soldiers during the year totalled 1,346 acres, making a grand total of 1,442,964 acres proclaimed since the inception of the scheme. This large area is made up as follows : — Class of Land. Area. Acres. Ordinary Crown lands .. .. .. .. 606,331 Land-for-settlement.s land .. .. . . • 401,844 National-endowment land .. .. .. .. 431,433 Cheviot Estate land .. .. . . .. .. 3,356 1,442,964 Proclamations have been issued revoking the setting-apart of 233,493 acres of Crown and national-endowment land and 101,804 acres of land-for-settlements land. APPLICATIONS FOR LAND. Applications for land under the Discharged Soldiers Settlement Act, 1915, to the number o" twenty-two 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 :—

The figures given, above with, respect to the allotments of land made to soldiers under the Discharged Soldiers Settlement Act, 1915, are very instructive, as showing clearly the incidence of repatriation. Prior to 1918 soldier settlement was comparatively modest in extent, and consisted chiefly in the placing' on the land of men who had been returned wounded or otherwise unfit. But it had all along been recognized that the crucial test would be experienced when the main body of New Zealand troops overseas returned home in rapidly increasing numbers, and preparations were made accordingly. Busy years were experienced in 1918 and 1919 ; but the scheme of allotting Crown lands realised its climax during the twelve months ending the 31st March, 1921, when over one thousand men were placed on holdings of Crown and settlement land, exclusive of those who purchased land by means of Government advances. Since that time the number of allotments made has naturally shown a steady decline, which has, however, been accompanied by an increase in the work of administering the financial side of the soldier-settlement scheme. DOMINION REVALUATION BOARD. Summary of Operations as at 31st March, 1932. Application 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 2of the Discharged Soldiers Settlement Amendment Act, 1917) .. .. 17,244,237 Capital value dealt with by the Dominion Revaluation Board. .. .. .. 12,528,835 Reduction in capital by the Dominion Revaluation Board .. .. .. .. 2,871,159

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a Allotments made. Year ending Applications ; receive . Number. | Area (Acres). 31st March, 1916 . . . . . . . 272 2 629 1917 .. ., . .. j 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 ;j 1929 .. .. .. . . 90 77 13,275 1930 .. .. .. .. 63 53 16,665 1931 .. .. .. .. 41 31 8,495 1932 .. .. .. .. 22 16 4,215 Totals for seventeen years .. .. 15,123 1 4,065 ' | 1,428,557

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Reduction in Land and Crown Mortgages. £ Reduction in capital value of leaseholds .. .. .. .. . ■ •• 2,008,506 Reduction in Crown mortgages (under section 2) .. .. . ■ • • 862,653 Total .. £2,871,159 Remission of Instalment Interest and Rent. £ Granted by Dominion Revaluation Board in respect of arrears as at 30th June, 1923 .. 192,447 Granted by Land Boards on recommendation of Dominion Revaluation Board with respect to payments accruing subsequent to 30th June, 1923 .. .. •• 273,200 Total remissions .. .. .. .. .. • • • • £465,647 Mortgages, instalments, rents, &c., automatically written off, due to reduction being retrospective to the Ist July, 1921, or date of the title, &c. . . . . • • £438,498 Postponements of Arrears as at 30th June, 1923, granted by Dominion Revaluation Board. £ Rent, principal, and instalment interest for periods up to ten years .. .. .. 316,475 Instalments to end of mortgage term .. . . .. . • • • • • 127,411 £443,886 Postponements of payments accruing subsequent to the 30th June, 1923, granted by Land Boards on the recommendation of Dominion Revaluation Board .. .. .. £149,188 Investigations of Current Accounts under the Discharged Soldiers Settlement Amendment Act, 1924. Number of accounts subject to investigation (approximate) .. .. .. 4,917 Current accounts sustained . . . . . . ■ . • • • ■ • • 3,925 Reductions in current accounts (in some of these cases transfers were also made to Suspense Account) .. .. .. . ■ ■ • ■ • • ■ 909 Transfers to Suspense Accounts (apart from those cases where reductions were also made) 83 £ Total capital invested .. .. .. .. .. • • • • .. 3,222,649 Reduction of capital .. .. .. .. .. ■■ 199,470 Transferred to Suspense Account . . . . . ■ • ■ • • • • 23,257 Adjustments in Buildings under Land for Settlements Act. £ Original value ~ . . .. • • • ■ ■ ■ • ■ ■ ■ 131,560 Amount of reduction .. .. .. .. .. . . •• ■ 19,579

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APPENDIX.

EXTRACTS FROM REPORTS OF COMMISSIONERS OF CROWN LANDS. NORTH AUCKLAND. (0. N. Campbell, Commissioner of Crown Lands.) Soldier settlers in this district, in common with other Crown tenants, are experiencing the difficulties of the times, but all holdings under this scheme are now in an advanced stage of development, and settlers are doing their utmost to meet the lower produce prices by increasing production. There is very little inclination shown to dispose of farms, and all are meeting their obligations to the greatest possible extent. Where reduced revenue has made it impossible for settlers to meet their obligations in full, the Land Board has met the settler with postponements and in some cases with remissions. Advances for development - works are naturally decreasing, and this year shows a greatly diminished expenditure under this heading as compared with previous years. Those holding houses mortgaged under the Discharged Soldier's Settlement Act have not remained unaffected by the prevailing conditions. Workers who have had their wages and salaries reduced are finding it difficult to meet interest and sinking-fund payments. The position is being met in most cases by varying the mortgages, and reducing the payments in keeping with the general fall in wages. Rents in Auckland have fallen very considerably during the year, and there has been considerable movement amongst the population in the search for cheaper rentals. A number of soldiers have abandoned their homes, and these have been let on weekly tenancies at current rental values. AUCKLAND. (K. M. Graham, Commissioner of Crown Lands.) Prices for butterfat showed a further drop as compared with those for last season. The majority of soldier settlers in the district are dairying, and many have found it rather difficult to make ends meet. The necessity for increased production being evident, most settlers endeavoured to effect an increase, but a drv spell in the autumn nullified their efforts to a great extent. Various concessions had to be given to meet the position. Sheep-farmers have had a very bad time. Wool prices fell away alarmingly, and in some instances were well below the cost of production. The Land Board has had to help numbers of these men by giving concessions in the matter of rent and interest. Many of them hardly made enough to even meet living expenses. Owners of house properties have also had to be assisted by adjusting mortgages in numerous instances. Many men failed to pay their instalments for the first time on record, owing to loss of work, cuts in wages, &c. Power of sale had to be exercised in a few hopeless cases, mostly house properties. Taken all through, the spirit shown by soldier settlers has been excellent, despite a particularly trying time. GISBORNE. (H. L. Primrose, Commissioner of Crown Lands.) There has been a considerable falling-ofl of revenue under this heading for the past year,_ and the outstanding rents and interest present a big problem for urgent consideration during the ensuing year. What the outcome will be it is hard to say, but the main consideration will be to keep up production and keep the men on the land. A lot will depend on future prices, for, with the present low level for practically all our products, it will be impossible for those with a load of arrears to pay them. Much writing-off will have to be faced before financial stability can be attained. Fresh advances have to be declined for new accounts, and present authorities are being conserved as much as possible for absolute necessities. Where the Department controls the stock accounts and the revenue, assistance has to be made for ordinary living and running expenses, but a firm hand is being retained. No farm properties came back on our hands during the year, but three house properties had to be taken over, owing to bankruptcy in one case, and the death of the mortgagor in the other two. Many holders of house property are able to pay only the interest portion of their instalments.

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HAWKE'I BAY. (J. F. Quinn, Commissioner of Crown Lands.) Like the ordinary lessees, the soldier settlers have been badly hit by the prevailing depression, which in this district was aggravated by the earthquake and the drought conditions. This phase is dealt with more particularly in the report on the settlement of Crown lands. There have been a few revaluations during the year, and the effect of these should be to put the lessees concerned into a sound position under normal circumstances, A few applications for reductions are still being received, but it is considered that in most cases no revaluation can be given, as the position is due primarily to the general slump and would be met by a concession in rent or interest. Numerous applications for postponements and remissions of rent and interest are being received, and where it is clear that the lessee cannot pay owing to poor returns he is being treated generously by the Department. House Properties.—Over one hundred applications for advances to repair earthquake damages were received, mostly in connection with houses in Napier. Reports on these were obtained and in sixty cases the cost of repairs was advanced by the Department. In most other cases the mortgagors had their repairs effected out of funds provided by the Earthquake Committee. In many cases mortgagors have been unable to pay owing to being out of work, and the Department has treated these in a very lenient manner. In a number of cases where present charges are considered rather high, causing arrears to mount up, relief has been given by capitalization of arrears and extension of the term of mortgage, thus making the monthly payment easier. Hunter Soldiers Assistance Trust Board. —The Board held four meetings during the year and approved of advances totalling £1,110. Two applications by widows for grants to their orphan children were received, but it was found that the regulations did not permit of grants being made owing to the applicants being in receipt of pensions. Representations to amend the regulations have been made by the Board. The trust funds should prove of assistance to discharged soldiers requiring small amounts for improvements, &c., in cases where, owing to various reasons, it is not possible for further advances under the Discharged Soldiers Settlement Acts to be made. TARANAKĪ. (W. D. Armit, Commissioner of Crown Lands.) The general condition of soldier settlement cannot be regarded as satisfactory, owing to causes outside the control of the farmer or the Department. In common with all primary producers, the soldier settler has experienced a severe set-back, particularly so in grazing districts. Dairy-farmers have made strenuous efforts to meet obligations by curtailing personal expenditure, and the Department has assisted in every possible manner to carry the settler on and maintain production. Small-holding farmers have not been able to meet their obligations so well as the farm with butterfat production of 10,000 lb. or over. The smaller farm is required to provide the same overhead charges of living-costs, interest on buildings, &c., as the larger farm, leaving a much smaller margin for interest or rents, when compared with the property maintaining larger production. Top-dressing has been assisted in many cases at the expense of interest on mortgages, and a great amount of careful farm costing and detail is required of the staff to provide that only reasonable allocations of revenue are provided for out of milk moneys accruing to the soldier accounts. Sheep-farmers have experienced another unfortunate year, with particularly low prices for wool, sheep, and cattle. It is unfortunate that carefully built up margins of formers years have been lost, and the fullest assistance must be given in all cases where soldier settlers are dependent on these sources of revenue. Temporary concessions are being granted and a careful check maintained on all expenditure. Essential living-expenses are provided, and in numerous instances this item absorbs the major portion of any revenue from wool, surplus sheep, and cattle. The Department is carrying on farming operations on seven soldier properties pending a favourable market for realization of securities. In two cases these operations will cease by the end of June, in view of other arrangements having been made. During the year ten properties reverted to the Department and fourteen were disposed of. Dairying areas are in great demand. House property mortgages are being reviewed by way of recapitalization or relief under Regulation 28a, wherever this action is required. A number of mortgagors who have never missed earning rebates now find it difficult to carry on through loss of employment or reductions in wages. House properties are not readily saleable, except at a considerable sacrifice, and tenancies have been arranged for fourteen dwellings now on hand for sale. During the year the exercise of power of sale was acted upon in ten cases of house properties, and five resales were effected. WELLINGTON. (H. W. C. Mackintosh, Commissioner of Crown Lands.) Soldier settlers are feeling the effects of the present depression in common with all other members of the farming community. The poor prices obtained for stock and farm-produce have had the effect of forcing settlers to approach the Department for refunds or advances against existing securities to pay for living-expenses and to meet obligations. It is gratifying to note that, with all their troubles, settlers are not giving way to despair, but are determined to battle through. In many cases by dint of more skilful farming they have increased their production by large percentages, but the full recompense for their work has been marred by poor markets.

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A considerable number of mortgagors of dwelling properties who have been affected by reductions of wages or salary have obtained relief by having their mortgages adjusted. This form of relief will no doubt be availed of more largely during the coming year. In cases where soldier settlers' current account mortgages have run the full seven years (the term of the mortgage) the position of the account has been reviewed with the object of transferring the whole or portion of sums advanced for permanent improvements to a table mortgage. In this way, as the settler makes his payments he acquires an interest in the improvements effected out of advances. A good average-weight clip of wool was secured by pastoralists, but the prices for this commodity have not been enough to pay overhead charges. The settler who follows dairying for a living will be better off than the wool-grower, but he also, although his production may be greater than in former seasons, is handicapped by low prices ; and after paying his way as far as possible he will have nothing left for improvement of pastures. There are a considerable number of soldier settlers in the areas affected by the severe drought now being experienced, and at time of writing the Department is taking steps to meet the position by supplying hay. This is of course a temporary measure only, as these men are facing the winter with a shortage of feed. NELSON. (A. F. Waters, Commissioner of Crown Lands.) Soldier settlers in common with civilian farmers are feeling the effect of present slump conditions. Although farm revenue is so small at present, the settlers prefer to stick to their holdings rather than face certain unemployment 011 an overcrowded labour-market. Quite a number whose situation enables them to exploit tobacco-growing are doing fairly well out of this profitable crop. Sheep-farming at the present prices shows hardly sufficient revenue to cover working-expenses. Dairy-farmers are in rather better position, but few are sufficiently well established to meet their charges in full. MARLBOROUGH. (P. R. Wilkinson, Commissioner of Crown Lands.) In common with the rest of the farming community, the soldier settlers have had a very hard year ; but most of them have faced the position in a commendable manner, and have made an effort to not only cut down expenses, but also to increase their production to offset the prevailing low prices. Unfortunately, the season has been against them, and production generally has not shown the increase that was expected, a.nd unless more rain comes before the frosts set in it is likely that many of the dairy and sheep farmers will face the coming winter with a shortage of feed. Objections to the continuation of the Department's milk orders during the depression were evident in one locality, as the soldier settlers considered that they were being unfavourably treated in comparison with other settlers who had State Advances loans and who handled all their proceeds themselves. The position was discussed with a deputation from the settlers concerned, and the trouble was settled in a manner satisfactory to all concerned. The dwelling properties are being kept in a fairly good state of repair, but on account of the increase in unemployment the arrears on these accounts have more than doubled during the year. WESTLAND. (T, Cagney, Commissioner of Crown Lands.) Soldier settlers throughout the district have shown commendable enterprise in taking advantage of the favourable weather conditions experienced during the season to carry out further landimprovement and generally increase their output of produce. Low prices have, however, considerably militated against a successful year from a financial aspect, and arrears have shown a substantial increase. The state of the market to-day and. the future outlook has practically eliminated the prospects of recovering postponements of charges given in the past; and further cases will have to be considered by the Land Board unless there is some improvement in present prices of farm-produce. One satisfactory feature of the position lies in the fact that the large majority of soldier settlers in this district are engaged in dairy-farming, which probably may be regarded as the most attractive phase of the farming industry at the present time, and ensures a more immediate and reliable return than from any other class of farming. CANTERBURY. (W. Stewakt, Commissioner of Crown 'Lands.) These accounts have also reflected the disastrous year ; and many who were well on their way towards a sound position, following on the Dominion Board's readjustments, have had again to seek further relief. The drought upset all budget calculations, so that we are now compelled to review most of these on a new basis and increased limits for the coming year.

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OTAGO. (N. C. Kensington, Commissioner of Crown Lands.) There is little to report as regards soldier settlement, and in spite of the trying conditions the soldier settler is carrying out his obligations to the best of his ability. In most cases where the finance of the farm is controlled by a stock company, the settler has not been in a position to meet his obligations to the Crown. The firm generally is supplying the necessary seeds and manures and living-expenses to enable the settler to carry on, but the position so far as the Crown is concerned as lessor or mortgagee is far from satisfactory. I can say definitely that the soldier settler is not at all satisfied with the position, and is anxious to meet his obligations to the Crown ; but, in view of the fact that his proceeds from sales are in the hands of a firm, he can do nothing in the matter. Unfortunately, the position of his current account with the firm is such that even if it was desired to take over the account the security offering would not permit of this being done. Those whose accounts are controlled by the Department have carried on steadily, and in most cases the account is in about the same condition as last year, and the settler does not appear to be downhearted in spite of the small return received for produce. Speaking generally, I think it can be said that soldier settlers recognize that economy must be practised, and are now adapting themselves to the difficult position, and are prepared to carry on. SOUTHLAND. (B. C. McCabe,. Commissioner of Crown Lands.) The soldier settlers in the district have come through a difficult year exceedingly well. Generally speaking, they have faced the position cheerfully and have done their best to pay their way. At the same time, the maintenance of pastures has not been neglected, and progress has been made in the improvement of dairy herds. A number of the settlers have taken advantage of the subsidized unemployed labour in developing their holdings by bringing in more bush lands and by improving areas already partially developed. Some concern is felt with regard to the purchase of fertilizers for the coming year, and some adjustments may be necessary in order to provide money for that purpose. As is to be expected, the position of those settlers whose holdings even in better times were on the small side is now desperate, and patient and liberal administration will be necessary in order to enable them to carry on.

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TABLE 1. Total Lands acquired from the Crown by Discharged Soldiers and held at the 31st March, 1932.

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Sale (including Deferred Payment). Lease and License. Grand Totals. Number of _ T , Land District. Discharged- Number dumber Purchaser 0 HoIdingg . ' ' Holdings. Renta1 ' Holdings. Licensees. Under the Discharged Soldiers Settlement Act, 1915, and Amendments. * Acres. £ j Acres, g. £ i !'. North Auckland .. 15 14 2,625 3,435 300 298 54,738 9,778 315 312 Auckland .. 45 45 1,330 15,690 539 532 87,833 25,260 584 577 89 163 Gsborne 1 1 29 15 116 114 58,201 13,603 117 115 58,230 Hawkes Bav " i .... 223 232 87,580 29,531 223 232 87,580 Taranaki " "l "l 2 310 98 96 24; 5 38 6,515 99 97 24.540 Wellington I'. 16 16 417 5,873 728 705 168,574 75,403 744 721 168,991 Nelson .. .. 3 3 1,216 1,292 21 21 13,119 1,515 24 24 14,335 Marlborough •• •• 52 50 19,951 4,117 52 50 19,951 Westland " "l 1 148 150 17 17 19,645 193 18 18 19,793 Canterbury .. 26 26 319 8,953 366 358 217,446 39,298 392 384 217,765 Otan-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 .. 122 122 9,684 48,188 2,661 2,625 966,695 j222,640 j 2,783 ! 2,747 976,379 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 3,506 118 115 271 Auckland .. 49 47 22,754 20,503 339 310 145,646 7,261 388 357 Gisborne . .. 3 3 167 4,795 45 41 38,094 4,256 48 44 38 > 2 61 Hawke's Bav . .. .. 49 50 16,847 4,641 49 50 16,847 Taranaki .. 6 6 1,898 12,078 149 140 63,510 3,655 155 146 65,408 Wellington 3 3 221 1,081 163 158 57,190 34,686 166 161 57,411 Nelson 3 3 1,099 586 95 87 49,081 1,072 98 90 50,180 Marlborough .. 116 106 266,410 6,657 116 106 266,410 Westland .. 1 1 200 168 66 62 16,992 358 67 63 17,192 Canterbury .3 3 56 386 209 215 150,754 21,714 212 218 150,810 Canterbury 2 g fi6 232 225 915>864 2 3,317 234 227 915,920 Southland .. 1 1 127 40 39 40 72,922 2,123 40 41 73,049 Totals .. j 82 80 27,756 41,278 1,609 1,538 1,817,403 113,246 1,691 1,618 1,845,159 Grand totals .. 204 202 137,440 89,466 4,270 4,163 2,784,098 335,886, 4,474 4,365 2,821,538

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TABLE 2. Statement of Mortgage Transactions, Financial Year ended 31st March, 1932.

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Principal. Interest. District. Balance at : Trir.fera Balance on Mortgage Balance at Losses, -Rebates, Balance at 31st March, 1931. I Advances Repayments o".," £" °,, at 31st March, 1932, 31st March, 1931, Charges j Receipts Remissions, 81st March, 1932, including daring Year. j during Year. fxr,T™™?. i including Post- including Post- during Year. ! during Year. and Transfers to i including | Postponements. | j acixiuiid.. , ponements. ponements. I other Accounts, j Postponements. ' S j '. : ..;. ■ ■; | gg . ! I T ~ T j j , North Auckland — £ s. d. £ s. <£. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. £ s. d. Current account .. .. 366,228 0 0 39,476 9 1 24,095 18 10 14,755 15 11 366,852 14 4 15,346 16 7 18,582 15 4 13,806 10 0 882 12 10 19,240 9 1 Farms, orchards, &c. .. .. 1,226,172 2 3 3,731 17 4 13,202 17 9 Dr. 2,859 17 10 1,219,560 19 8 47,126 11 7 62,612 9 3:42,319 0 7 8,721 16 9 58,698 3 6 Dwellings, business premises, &c. .. 1,644,157 18 0 2,182 10 6 60,320 3 9 34,486 18 4 1,551,533 6 5 6,645 18 7 81,927 6 6 168,331 14 8 7,968 5 9 12,273 4 8 Totals.. .. .. 3,236,558 0 3 45,390 16 11 97,619 0 4 46,382 16 5 3,137,947 0 5 69,119 6 9 163,122 11 1 124,457 5 3 17,572 15 4 90,211 17 3 Auckland — Current account .. .. 394,077 4 7 61.056 19 9 41.092 16 1 23,867 6 10 390,174 1 5 11,109 0 5 20,981 13 4 16,318 3 8 910 5 11 14,862 4 2 Farms, orchards, &c. .. .. 1,042,412 14 11 700 0 0 15,707 2 10 Dr. 7,356 14 4 1.034,762 6 5 24,447 8 7 53,660 4 5 38,625 5 6 5,038 1 10 34,444 5 8 Dwellings, business premises, &c. . 360,854 17 4 501 18 5 13,208 6 4 653 4 6 347,495 4 11 1,309 16 3 18,165 4 6 15,383 5 4 1,290 16 0 2,800 19 5 Totals.. .. .. 1,797,344 16 10 62,258 18 2 70,008 5 3 17,163 17 0 1,772,431 12 9 36,866 5 3 92,807 2 3 70,326 14 6 7,239 3 9 52,107 9 3 Gisborne — Current account .. .. 40,281 10 1 7,116 19 10 5,460 1 4 874 11 11 41,063 16 8 1,074 6 3 2,101 1 7 i 1,049 17 11 94 5 1 2,031 4 10 Farms, orchards, &e. .. .. 167.026 1 1 .. 3,171 18 7 106 11 4 163,747 11 2 3,557 5 4 8,671 17 1 j 5,146 6 9 659 14 5 6,423 1 3 Dwellings, business premises, &c. .. 136,124 19 11 30 0 0 5,285 19 0 769 2 3 : 130,099 18 8 344 5 4 6,939 5 3 5,823 17 9 513 7 7 946 5 3 Totals.. .. .. 343,432 11 1 7,146 19 10 13,917 18 11 1,750 5 6 j 334,911 6 6 4,975 16 11 ' 17,712 3 11 j 12,020 2 5 1,267 7 1 9,400 11 4 Hawke's Bay — Current account .. .. 161.905 10 2 35,419 3 8 30.090 3 10 7,777 1 0 159,457 9 0 8,739 5 4 8,222 12 4 4.909 18 10 361 12 9 11,690 6 1 Farms, orchards, &c. .. .. 329,032 11 2 40 0 0 4,408 9 6 Dr. 3,100 17 10 327,764 19 6 9,778 5 6:17,039 5 6 10.638 1 6 1,365 7 7 14,814 111 Dwellings, business premises, &c. .. 320,507 6 3 5,051 1 9 11,059 3 6 208 17 0 314,290 7 6 2,194 8 10 j 16,285 4 8 j 14,353 14 9 961 16 3 3,164 2 6 Totals.. .. .. 811,445 7 7 40,510 5 5 45,557 16 10 4,885 0 2 801,512 16 0 20,711 19 8 41,547 2 6 29,901 15 1 2,688 16 7 29,668 10 6 Taranaki — • j I Current account .. .. 153,348 16 0 45,580 10 0 46,470 18 2 8,876 4 9 ! 143,582 3 1 4,571 16 11 8,365 6 2 7,256 11 7 359 18 6 5,320 13 0 Farms, orchards, &c. .. .. 703,231 10 10 326 12 9 8,204 15 4 3,735 8 8! 691,617 19 7 16,302 7 6 35,494 9 7 22,293 17 6 3,530 18 10 25,972 0 9 Dwellings, business premises, &c. .. 283,564 3 1 293 2 9 11.481 9 8 4,658 18 7 267,716 17 7 422 1 9 | 14,217 10 8 12.567 3 9 1,014 15 0 1,057 13 8 Totals.. .. .. 1,140,144 9 11 46,200 5 6 66,157 3 2 17,270 12 0 1,102,917 0 3 21,296 6 2 58,077 6 5 : 42,117 12 10 4,905 12 4 32,350 7 5 Wellington — Current account .. .. 372,132 5 2 62,744 6 9 56,281 12 9 29,829 11 9 348,765 7 5 13.494 7 5 18,376 19 9 11,808 13 4 770 9 9 19,292 4 1 Farms, orchards, &c. .. .. 841,114 4 11 102 0 6 11,849 10 4 Dr. 11.006 9 2 840,373 4 3 23,340 5 0 43,520 4 8 26,785 1 8 5,740 19 8 34,334 8 4 Dwellings, business premises, &c. .. 1,207,007 16 4 10,275 12 4 49,607 3 1 12,328 14 11 1,155,347 10 8 2,196 2 3 61,612 19 8 53,312 0 5 5,502 9 2 4,994 12 4 Totals.. .. .. 2,420,254 6 5 73,121 19 7 117,738 6 2 31,151 17 6 2,344,486 2 4 39,030 14 8 |123,510 4 1 91,905 15 5 12,013 18 7 58,621 4 9

c.—9.

11

31,105 19 5 5,216 1 5 : 3,902 11 4 1,260 4 11 31,159 4 7 2,021 6 6 1,634 9 2 592 2 7 251 2 2 2,812 10 11 Farms orchards &c " " 204,061 14 2 0 2 3 1,364 6 7 5,664 12 8 197,032 17 2 7,731 9 8 j 10,149 2 11 4.120 5 1 2,238 3 10 11,522 3 8 premises, &c. !! 77,'o55 2 2 .. 2,890 13 10 159 9 1 74,004 19 3 147 16 10, 3,916 19 1 3.390 11 5 330 18 1 343 6 5 Totalg ~ 312,222 15 9 5,216 3 8 8,157 11 9 7,084 6 8 302,197 1 0 9,900 13 0 15,700 11 2 8,102 19 1 2,820 4 1 14,678 1 0 Current account .. 62,718 13 3 6,348 10 11 7,690 8 5 3,093 5 6 58,283 10 3 2,872 6 4 3,106 6 10 1,899 1 7 442 15 0 3,636 16 7 Farms orchards &c 305 224 2 10 1,132 17 5 3,634 7 2 19,816 0 10 282,906 12 3 7,402 5 1 15,056 9 9 8,071 12 10 2,727 4 2 11,659 17 10 Dw™lings, premises, &c. .. 61, 6 3 .. 2,076 18 0 320 6 6 48.966 1 9 134 15 9 2,574 19 2 2,256 8 7 226 4 8 227 1 8 Totals.. .. .. 419,306 2 4 7,481 8 4 13,401 13 7 23,229 12 10 390,156 4 3 10,409 7 2 20,737 15 9 12,227 3 0 3,396 3 10 15,523 16 1 VV .. .. 20,898 15 11 2,797 10 0 2,752 10 8 992 15 3 19,951 0 0 950 19 4 1,026 3 3 640 5 7 156 14 2 1,180 2 10 Farms orchards &c 71 439 6 6 .. 735 14 1 Dr. 1,748 15 1 72,452 7 6 2,600 11 9 3,637 19 9 1,746 19 1 1,583 1 0 2,908 11 5 Dwellings, business premises, &c. .. 17.764 9 4 125 17 11 757 2 3 Dr. 377 2 9 17,510 7 9 114 15 3 890 19 10 820 7 9 55 16 11 129 10 5 Totals.. .. .. 110,102 11 9 2,923 7 11 4,245 7 0 Dr. 1,133 2 7 109,913 15 3 3,666 6 4 5,555 2 10 3,207 12 5 1,795 12 1 4,218 4 8 Ca Gurrent y .. .. 156,111 0 11 69,300 13 11 71,984 14 9 8,736 2 8 144,690 17 5 7,213 0 1 7,695 16 7 3,463 19 1 1,317 7 0 10,127 10 7 Farms orchards &c 905,348 4 3 790 12 10 10,120 9 4 18,897 13 7 877,120 14 2 23,665 15 3 46,631 8 3 21,416 1 5 9,823 11 7 39,057 10 6 Dwellings, business premises, &c. .. 903,632 13 1 1,034 1 2 40,005 0 3 5,793 10 7 858,868 3 5 2,771 12 9 45,604 2 2 38,001 5 7 3,884 3 8 6,490 5 8 Totals.. .. .. 1,965,091 18 3 71,125 7 11 122,110 4 4 33,427 6 10 1,880,679 15 0 33,650 8 1 99,931 7 0 62,881 6 1 15,025 2 3 55,675 6 9 0 Current account . .. 56.395 0 5 16,076 3 3 12,324 11 11 1,382 7 3 58,764 4 6 2,363 13 3 3,125 14 3 1,121 1 10 107 1 8 4,261 4 0 Farms orchards, &c 312,155 12 9 .. 3,499 8 9 3,661 12 2 304,994 11 10 8,760 2 10 15,776 1 7 7.098 17 11 1.647 2 4 15,790 4 2 Dwellings, business premises, &o. .. 301! 646 15 0 2,288 19 6 15,986 2 6 Dr. 23 15 2 287,973 7 2 442 1 3 15,126 9 8 13,571 9 0 1,058 15 2 938 6 9 Totals 670,197 8 2 18,365 2 9 31,810 3 2 5,020 4 3 651,732 3 6 11,565 17 4 34,028 5 6 21,791 8 9 2,812 19 2 20,989 14 11 b °CuCTentTccount .. .. 100,084 14 9 20,259 13 1 17,873 13 0 10,707 6 3 91,763 8 7 4.749 18 10 4,706 4 4 2,607 18 4 45 7 2 6,802 17 8 Farms orchards &c . .. 355,313 18 7 20 0 0 2,797 0 9 -Dr. 10,148 10 2 362,685 8 0 13,110 11 7 18,637 13 0 9,122 4 4 947 8 4 21,678 11 11 Dwellings, business premises, &c. .. 116,427 10 8 25 0 0 5,221 13 5 223 6 0 111,007 11 3 204 9 7 5,823 3 0 5,015 19 6 419 19 10 591 13 3 Totals.. .. .. 571,826 4 0 20,304 13 1 25,892 7 2 782 2 1 565,456 7 10 18,065 0 0 29,167 0 4 16,746 2 2 1,412 15 4 29,073 2 10 SUMMARY. IVCLYHP OT '±CGO' 1 l7lt Current account _ 1,915,287 10 8 371,393 1 8 1320,020 1 1 112.152 14 0 1,854,507 17 3 74.506 17 3 97,925 2 11 65,474 4 4 5,699 12 0 101,258 3 10 Farms orchards &c . 6,462,532 4 3 6,844 3 1 78,696 1 0 15,660 14 10 6,375.019 11 6 187,822 19 8 330,887 5 9 197.383 14 2 44,023 10 4 277,303 0 11 Dwellings, business premises, &c. .. 5,420,106 17 5 21,808 4 4 217,899 15 7 59,201 9 10 5,164,813 16 4 16,928 4 5 273,084 4 2 232,827 18 6 23,227 8 1 33,957 2 0 Grand totals .. .. 13,797,926 12 4 400,045 9 1 616,615 17 8 187,014 18 8 13,394,341 5 1 279,258 1 4 701,896 12 10 495,685 17 0 72,950 10 5 412,518 6 9

C.—9.

DISCHARGED SOLDIERS SETTLEMENT ACCOUNT. Receipts and Payments Account eok Yea» ended 31st March, 1932. Receipts. Payments. Balance as at Ist April, 1931— £ s. d. £ s. d. Annual appropriation'—Vote, Expenses of Man- £ s. d. Cash .. .. .. 199,766 11 1 agement .. .. .. .. 37,000 0 0 Imprests outstanding .. 7 ,624 10 6 Expenditure under section 9, Discharged Soldiers Investment Account .. 52,140 17 0 Settlement Act, 1915— 259,531 18 7 Miscellaneous expenditure on £ s. d. Credits in reduction of expenditure under see- properties acquired by Crown 1,472 3 3 tion 9, Discharged Soldiers Settlement Act, Printing and stationery .. 229 17 0 1915 — £ s. d. Travelling-expenses of InspecTransfer and production fees .. 359 14 0 tor of Securities .. .. 180 16 10 Valuation fees .. .. 129 10 1 Valuation expenses.. .. 51 7 6 Miscellaneous recoveries on ac- Valuation fees refunded .. 26 15 6 count properties acquired by Fees refunded .. .. 25 17 0 Crown .. .. .. 132 17 3 Audit fees.. .. .. 700 0 0 Sundries .. .. .. 107 9 7 Payments on account of Mc729 10 11 Gregor Block .. .. 436 6 2 Repayments in respect of advances under sec- Sundries .. .. .. 324 0 0 tions 6 and 9, Discharged Soldiers Settlement 3,447 3 3 Act, 1915— £ s. d. Advances under sections 6 and 9, Discharged Current account .. .. 320,020 1 1 Soldiers Settlement Act, 1915 — Farms, orchards, &c. .. 79,313 1 11 Advances — £ s. d. Dwellings, business premises, Current account .. .. 371,393 1 8 &c. .. .. .. 218,092 19 1 Farms, orchards, &c. .. 7,461 4 0 Buildings Account .. .. 552 15 7 Dwellings, business preSale of live and dead stock .. 1,709 12 9 mises, &c. .. .. 22,001 710 Miscellaneous advances .. 2,321 5 4 Miscellaneous advances .. 3,104 19 3 Receipts on account properties Capital expenditure on proacquired by Crown— | perties acquired by Crown — £ s. d. £ s. d. Freehold .. 3,140 6 2 Freehold .. 2,445 16 4 Leasehold .. 2,027 13 1 I Leasehold .. 38 14 II 5,167 19 3 i 2,484 11 3 Receipts on account of pro- Expenditure in connection with perties in course of realiza- properties in course of reaction .. .. .. 9,076 4 0 zation .. .. .. 5,971 711 Profit on sales .. .. 37 3 2 Payments of instalments on Receipts from working pro- State Advances Department perties acquired by the mortgages .. .. 34 12 3 Crown .. .. .. 957 2 4 Purchase of live and dead stock 403 17 9 ■ Recovery of loss previously Expenses of working properties written off .. .. 8 15 acquired by Crown .. 429 9 8 Sundries .. .. .. 19 1 5 Sundries .. .. .. 242 18 0 637,275 7 4 413,527 9 7 Interest in respect of Advances under sections 6 Interest on transfers from Consolidated Fund .. 144,666 13 4 and 9, Discharged Soldiers Settlement Act, Interest on loans recouped to the Consolidated 1915— £ s. d. ! Fund .. .. .. .. .. 247,549 7 6 Current account .. .. 65,474 4 4 ! Stamp duty on transfers of consolidated stock .. 85 14 11 Farms Account .. .. 1.97,383 14 2 Management charges of consolidated stock .. 78 11 11 Dwellings Account .. .. 232,827 18 6 j Suspense Account —Amounts allocated — Buildings Account .. .. 972 3 3 £ s. d. Miscellaneous .. .. 139 18 8 : Fire Loss Suspense Account.. 17,322 4 7 496,797 18 11 Suspense Account .. .. 11,117 4 4 Discharged Soldiers Settlement Amendment Act, 28,439 8 11 1921-22, sections 4, 11, and 13 — Securities redeemed .. .. .. 35,660 0 0 Sundry debtors— £ s. d. Repayment of capital transferred from ConsoliRents .. .. .. 16,722 011 dated Fund (part £13,500,000) .. .. 350,000 0 0 McGregor Block .. .. 93 10 7 Balance as at 31st March, 1932 — £ s. d. 16,815 11 6 Cash .. .. .. 107,056 2 4 Merged transactions under section 20, Discharged Imprests outstanding .. 5,755 15 10 Soldiers Settlement Amendment Act, 1923— Investment Account .. 82,097 13 9 Section 20 (3)— £ s. d. 194,909 11 11 Principal instalments .. 286 16 5 Interest instalments .. 705 4 10 Section 20 (4) —Property freehold .. .. * .. 805 0 0 Section 20 (5) — Principal instalments .. 6 0 0 Property, freehold .. 828 0 0 2,631 1 3 Interest on investments .. .. 12,387 196 Suspense Account—Receipts awaiting allocation— £ s. d. Fire Loss Suspense .. 17,964 1 9 Suspense Account .. .. 11,230 0 1 Properties in course of realization .. .. .. 0 116 29,194 13 4 £1,455,364 1 4 £1,455,364 1 4

12

a—9.

DISCHARGED SOLDIERS SETTLEMENT ACCOUNT —continued. Revenue Account for Year ended 31st March, 1932. Dr. £ S. d. £ s. d. I Or. To Interest and sundry charges re jßy Interest on advances— i s. d. i s. a. J oans ; Current account .. .. 97,925 -IX Interest on debentures .. 24«,546 410 | Farms 330,887 5 9 Interest on amount transferred i Dwellings .. 273,084 4 2 from Consolidated Fund ..434,000 0 0 j Merged interests .. .. 1,498 1J 10 Management expenses of stock 78 11 11 Buildings .. •• Stamp duty on transfers .. 85 14 11 j Sales .. .. , — 680,710 11 8 i Miscellaneous .. .. 64 12 11 ' 704 741 Q 4 Expenses of management — , . ■ . , ' Costs recouped to vote, Rents and royalties from properties acquired T irirU and Snrvev 37 000 0 0 by Crown .. .. •• 31,«50 10 0 Rebates 32,229 3 5 Interest on surplus funds temporarily invested 11,812 13 9 Miscellaneous expenditure on Interest on investment in Public Debt ReCrown properties .. 1,541 5 7 demption Fund .. •• •• > Audit fees . 700 0 0 Profit on disposal of properties .. . ■ » ' Printing and stationery .. 220 5 4 Transfer and production fees .. .. 409 1 10 Travelling-expenses .. 179 410 Valuation fees .. .. • • • • q 2 o Valuation exnenses 84 6 0 Miscellaneous .. .. •• » o d Commission . . .. 12 2 8 Balance —Loss for year, carried down .. 199,307 0 5 Depreciation .. .. 0 10 8 71,966 18 6 Remissions— Land Board recommendations 12,398 15 2 Dominion Revaluation Board recommendations 5,883 12 9 Under Deteriorated Land Act, 1925 .. .. ■ 381 12 4 , 18,664 0 3 Reduction in value of securitiesLosses on realization —Writ-ings-off in Suspense .. 116,406 0 3 Losses on properties acquired by Crown .. 37,510 16 6 Reductions of mortgages, &c., by Dominion Revaluation Board .. 20,275 1 5 Reduction in capital value of leases under section 216, Land Act, 1924, &c. .... 5,047 11 9 179,239 9 11 £950,581 0 4 £950,581 0 4 £ s. d. £ s. d. To Balance—Loss for year, brought down .. 199,307 65 By Adjustment qn account previous year .. 795 7 5 Balance forward from previous year .. 168,417 9 5 Balance Accumulated loss to 31st March, £367,724 9 10 £367,724 9 10

13

C— 9.

DISCHARGED SOLDIERS SETTLEMENT ACCOUNT—continued. Balance-sheet as at 31st March, 1932. Liabilities. Assets. Capital— £ s. d. £ s. d. Advances on mortgage— £ s. d. £ s. d. Transfer from Consoli- Current account .. 1,854,507 17 3 dated Fund at 4 per Farms, orchards, &c. .. 6,232,386 1 7 cent. .. .. 13,500,000 0 0 Dwellings, business preReduction under section mises, &c. .. .. 5,098,705 16 3 22, Finance Act, 1927 13,185,599 15 1 (No. 2) .. .. 2,650,000 0 0 Land leased under sections 4 and 5, Discharged Soldiers Settlement Act, 1921-22 .. .. 457,232 14 11 10,850,000 0 0 Buildings—Unpaid purchase price (not yet Less repaid as per payable) of buildings on Crown properties .. 23,563 111 Finance Act, 1931 Sundry advances merged with value of Crown (No. 4) .. .. 350,000 0 0 lands—Section 20, Discharged Soldiers Settlement Amendment Act, 1923 .. .. 37,642 8 5 10,500,000 0 0 Deferred payment sales under section 9, DisDepreciation Fund .. 46,160 0 0 charged Soldiers Settlement Amendment Debentures issued (at 3f Act, 1921-22 .. .. .. .. 1,513 13 4 per cent., £125,000 ; Realization Account —Properties in course of at 4 per cent., £96,200; realization .. .. .. .. 193,356 11 11 at 5 per cent., £255,995 Properties acquired by Crown — £ s. d. 16s. Bd.; at 5J per Freehold .. .. 329,534 1 3 cent., £4,114,630) .. 4,591,825 16 8 Leasehold .. .. 65,878 17 11 Total capital .. 15,137,985 16 8 395,412 19 2 Sundry creditors for interest— Live and dead stock .. .. .. 5,862 15 7 Interest due and unpaid Current Advances Suspense—Section 3 (3) (6), on debentures .. 1,320 19 2 Discharged Soldiers Settlement Amendment Interest due and unpaid Act, 1924 .. .. .. .. 730 0 0 on amount transferred £ s. d. from Consolidated Fund 434,000 0 0 Office requisites, &c... .. 5 12 7 Interest accrued on deben- Less Depreciation Reserve .. 4 10 9 tures .. .. 50,319 10 8 1 1 10 Interest accrued on Sundry debtors for principal amount transferred instalments — from Consolidated Fund 35,671 4 8 Farms Account .. .. 107,112 2 5 Total interest on Dwellings Account .. 65,485 16 0 capital owing .. 521,311 14 6 Merged transactions .. 1,126 6 1 Sundry creditors — Miscel- Buildings Account .. 738 4 10 laneous services— Deferred-payment sales .. 010 9 Miscellaneous .. .. 5,770 15 7 1 174,463 0 1 Departmental .. .. 0 8 0 Sundry debtors for interest— 5,771 3 7 Current account .. .. 96,374 17 8 State Advances Office —Mortgages taken over 545 18 3 Farms Account .. .. 202,003 14 3 Miscellaneous credit balances on Dwellings Account .. 33,717 5 6 debtors accounts — £ s. d. Merged transactions .. 4,222 2 1 Advances— Buildings Account .. 830 10 4 Current account .. 545 12 7 Deferred-payment sales .. 10 19 10 Dwellings Account .. 3 2 4 Sundries .. .. 45 4 8 Principal instalments— 337,204 14 4 Farms Account .. .. 708 3 2 Sundry debtors for — Dwellings Account .. 495 8 3 Rents of properties .. 27, 670 4 5 Buildings Account .. 12 710 Miscellaneous advances .. 1,624 6 9 Miscellaneous advances .. 190 6 0 Sale of live and dead stock 45 0 0 Interest — Sundries .. .. 1 14 5 Current account .. .. 103 11 11 29,341 5 7 Farms Account .. .. 1,747 5 3 Postponements — Dwellings Account .. 729 16 3 Instalments of principal— Buildings Account .. 7 14 11 Farms Account .. 35,521 7 6 Sales Debtors Account .. 0 0 2 Dwellings Account .. 622 4 1 Sundry Debtors for Rent Buildings Account .. 159 18 1 Account .. .. 335 16 1 Interest — Total credit balances on Current account .. 4,883 6 2 debtors'accounts .. 4,879 4 9 Farms Account .. .. 75,299 6 8 Rents charged in advance .. .. .. 5,615 14 4 Dwellings Account 239 16 6 Suspense Account — Buildings Account .. 166 5 0 Receipts not yet allocated .. .. 639 7 0 Rent .. .. .. 3,750 811 Fire Loss Account .. .. .. 6,764 17 7 Total postponements .. 120,642 12 11 Realization Suspense —Surpluses on realization Interest on advances accrued but not due .. 111,301 10 9 of property not yet allocated .. .. 578 13 11 Interest on debentures accrued but not due .. 39 1 0 Writings-off in Suspense .. .. .. 69,705 16 8 Interest on investments in Public Account Liabilities discharged under section 22, Finance accrued but not due .. .. .. 355 7 6 Act, 1927 (No. 2), to write off accumulated Suspense Account—Difference in books, Napier losses, as per contra .. .. .. 3,969,759 10 II Office .. .. .. .. .. 74 3 10 Losses carried forward on properties worked by Department .. .. .. .. 198 12 7 Losses in Suspense .. .. ,« 69,705 16 8 Investments — £ s. d. In Public Debt Redemption Fund .. .. .. 46,718 5 6 Debenture securities .. 1,000 0 0 47,718 5 6 Carried forward .. .. .. 19,723,557 18 2 Carried forward .. .. 15,191,959 12 II

14

C.—9.

DISCHARGED SOLDIERS SETTLEMENT ACCOUNT —continued. Ba l lan ce - she e t as at 31st March, 1932 —continued. £ s. d. £ s. d. £ s. d. Brought forward .. .. 19,723,557 18 2 Brought forward .. .. 15,191,959 12 11 Cash balance — In Public Account .. 107,056 2 4 Imprests outstanding .. 5,755 15 10 Investment account .. 82,097 13 9 104,909 11 11 Revenue Account—Accumulated loss .. 366,929 2 5 Accumulated losses written off under section 22, Finance Act, 1927 (No. 2) .. .. 3,969,759 10 11 £19,723,557 18 2 £19,723,557 18 2 W. Robertson, Under-Secretary for Lands. W. E. Shaw, Accountant. I hereby certify that the Statement of Receipts and Payments, 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. H. Fowler, Deputy Controller and Auditor-General. Approximate Cost of Paper.—-Preparation, not given; printing (790 copies), £20.

By Authority : W. A. G. Skinnek, Government Printer, Wellington.—l 932.

Price 6d.]

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