8.—13

2

Number and amounts of current advances on rural and urban and suburban land :— Number. Amount. On rural land .. .. .. .. ..12,401 5.264,373 2 5 On urban and suburban land .. .. .. 7,221 2,725,758 I I Totals .. .. .. ..19,622 £7,990,131 3 6 The average rural advance is £425, and the average urban and suburban advance is £377. The amounts of the advances actually paid over to settlers during the year ended 31st March, 1915, are as follows :— Number. A,n ™ nt ' Not exceeding £500 .. .. .. .. .. 1,453 452.925 Exceeding £500 but not exceeding £1,000 .. .. 493 358,195 Exceeding £1,000 but not exceeding £2,000 , 125 181,620 Exceeding £2,000 but not exceeding £3,000 .. ' . .. 2 . 4,300 Totals .. .. .. .. .. 2,073 £997,040 The average amount of the advances granted for the year is £481, and the tenure of the securities Number. Am ™" k - On freeholds .. .. .. .. .. ..1.050 445,450 On leaseholds .. .. .. .. .. 1,008 543,005 On freeholds and leaseholds combined .. .. .. L 5 8,585 Totals .. .. .. .. ..2.073 £997.040 For the year the average freehold advance was £424, the average leasehold advance £539, and the average secured on freehold and leasehold combined £572. The total sum raised by the Government for investment on mortgage to settlers is £8,990,273 Is. 7d. Nineteen thousand six hundred and twenty-two mortgagors are now indebted to the Department to the extent of £7,990,131 3s. 6d. in respect of principal moneys, an increase during the year of 581 mortgagors, owing £259,562 9s. 1 Id. The gross profits for the year ended 3.lst March, 1915, were £68,512 ss. 3d., and the cost of management and expenses of the branch £10,621 15s. 1 Id., being 0-12 per cent., or 2s. 4d. per £100 on capital employed. The net profits amounted to £57,434 19s. Id., of which the sum of £31,325 4s. has been applied in writing down loan charges. The sinking fund established under section 26 of the State Advances Act, 1913, amounts to £485,653 ss. 1 Id., inclusive of the amount held by the Public Trustee (£302,904 13s. 9d.). One leasehold Jand four freehold securities were realized by the Department during the year. Losses debited and unpaid instalments in respect of mortgaged properties written off amount to £455 10s. 3d. G. F. C. Campbell, Superintendent. State Advances Offices, Wellington, 23rd June, 1915.

ADVANCES TO WORKERS BRANCH. Eighth Annual Report and Balance-sheet. The advances actually paid over to workers during the year numbered 948, and amounted to £313,025. Classified according to provincial, districts, the advances authorized during the year ended 31st March, 1915, were — Provincial Number of 0 " District. Applications. autiiorlzea. Auckland .. .. .. .. .. 396 122,070 Taranaki .. .. .. .. .. 30 9,270 Hawke's Bay .. .. .. .. .. 77 23,835 Wellington .. .. .. .. .. 236 71.785 Marlborough .. .. .. .. .. 25 6,885 Nelson .. .. .. .. .. 9 2,140 Westland .. .. .. .. .. 3 700 Canterbury ~ .. .. .. .. 241 69,600 Otago .. .. .. .. .. .. 83 22,630 Southland .. .. .. .. .. 29 8.775 Totals 1,129 £337,690