2

8.—13

Number and amounts of current advances on rural and urban and suburban land — Number. £ Amount. On rural land 11,937 5,025,495 10 1 On urban and suburban land .. .. .. 7,104 2,705,073 3 6 Totals .. .. .. .. 19,041 £7,730,568 13 7 The average rural advance is £421, and the average urban and suburban advance is £380. The amounts of the advances actually paid over to settlers during the year ended 31st March, 1914, are as follows :— Number. Amount. Not exceeding £500 .. .. 1,713 602,995 Exceeding £500 but not exceeding £1,000 .. ... 272 191,355 Exceeding £1,000 but not exceeding £2,000 .. .. 98 142,070 Exceeding £2,000 but not exceeding £3,000 .. .. 15 36,585 Totals .. .. .. .. .. 2,098 £973,005 The average amount of the advances granted for the year is £463, and the tenure of the securities IS,_ Number. Amo £ unt - On freeholds .. .. .. .. ~ .. 1,082 487,080 On leaseholds .. .. .. .. .. 985 466,260 On freeholds and leaseholds combined .. .. .. 31 19,665 Totals .. .. .. .. .. 2,098 £973,005 For the year the average freehold advance was £450, the average leasehold advance £473, and the average secured on freehold and leasehold combined £634. The total sum raised by the Government for investment on mortgage since the Department was started is £8,408,950 Is. 7d. Nineteen thousand and forty-one mortgagors are now indebted to the Department to the extent of £7,730,568 13s. 7d. in respect of principal moneys, an increase during the year of 644 mortgagors, owing £272,751 2s. 6d. The gross profits for the year ended 31st March, 1914, were £93,483 16s. 5d., and the cost of management and expenses of the Department £11,264 9s. Bd., being 0-13 per cent., or 2s. 7d. per £100 on capital employed (the cost of the previous year was 0-14 per cent, or 2s. 10d. per £100). The net profits amounted to £81,894 ss. 10d., of which the sum of £32,976 3s. 6d. has been applied in writing down loan-charges. A sum of £84,089 10s. has been added to the sinking fund, under section 26 of the State Advances Act, 1913, which, with £14,001 2s. 2d. interest earned and added to the fund, brings the total amount, including the amount held by the Public Trustee (£322,904 13s. 9d.), standing to the credit of that account to £450,995 ss. lid. Three freehold and two leasehold securities were realized by the Department during the year. Losses debited and unpaid instalments in respect of mortgaged properties written off amount to £325 os. lid. G. F. C. Campbell, Superintendent. State Advances Offices, Wellington, 29th June, 1914.

ADVANCES TO WORKERS BRANCH. Seventh Annual Report and Balance-sheet. The advances actually paid over to workers during the year numbered 879, and amounted to £272,860. Classified according to provincial districts, the advances authorized during the year ended 31st March, 1-914, were, — Provincial Number of Amount of Advances District. Applications. authorized. . Auckland .. .. .. .. .. 407 118,210 Taranaki .. .. .. .. .. 41 11,275 Hawke's Bay .. .. .. .. .. 61 16,785 Wellington .. .. .. .. ..232 66,855 Marlborough .. .. .. .. .. 40 10,435 Nelson .. .. .. .. .. 15 2,880 Westland .. .. .. .. .. 4 995 _ Canterbury .... .. .. .. 274 79,310 Otago.. .. .. .. .. .. 89 23,270 Southland .. .. .. .. .. 37 9,185 Totals ~ .. ~ ~ 1,200 £339,200