8.—13

2

The number and amounts actually paid over, classified according to tenure of the securities, are as follows:— Number. Am ° unt ' On freeholds 649 242,435 On leaseholds .. .. .. .. .. 418 182,990 On freeholds and leaseholds combined .. .. .. 5 3,430 Totals 1,072 £428,855 The gross profits for the year ended 31st March, 1917, were £51,383, and the cost of management and expenses of the branch £10,276, being 0-111 per cent., or 2s. 3d. per £100 of the capital employed. The net profits amounted to £40,716. The sinking fund established under section 26 of the State Advances Act, 1913, amounts to £707,988, inclusive of the amount held by the Public Trustee (£302,904). Six leasehold and five freehold securities were realized by the Department during the year. Losses debited, and unpaid instalments in respect of mortgaged properties written off, amount to £391. G. P. C. Campbell, Superintendent. State A.dvances Offices, Wellington, 2nd July, 1917.

ADVANCES TO WORKERS BRANCH. Tenth Annual Report and Balance-sheet. The following is a statement showing the advances to workers authorized by the Board during the year, and classified according to provincial districts : — Provincial Number of '""^ASF"' District. Applications. authorized. Auckland .. .. .. .. ..188 • 62,135 Taranaki .. .. .. .. .. 16 4,705 Hawke's Bay .. .. .. .. ..47 13,510 Wellington .. .. .. .. ..198 64,770 Marlborough .. .. .. .. ..14 4,080 Nelson .. .. .. .. .. 9 2,755 Westland .. .. .. .. ..1 175 Canterbury .. .. .. .. ..143 46,325 Otago.. .. .. .. .. .. 32 9,725 Southland .. .. .. .. ..10 2,815 Totals .. .. .. ..658 £210,995 The total of advances to workers now current and the tenure of the securities are as follows :— Number. Amount. On freeholds .. .. .. .. .. 8,902 2,542,115 4 i On leaseholds .. .. .. .. 569 108,304 2 9 Totals .. .. .. .. 9,471 £2,650,419 7 4 The advances to Workers actually paid over during the year ended' 31st March, 1917, on freehold and leasehold are as follows :— Number. Amount. On freeholds .. .. .. .. .. ..594 212,310 On leaseholds .. .. .. .. .. ..11 2,655 Totals .. .. .. .. ..605 £214,965 The gross profits for the year ended 31st March, 1917, were £11,612, and the cost of management and expenses of the branch £3,114, being 0-125 per cent., or 2s. 6d. per £100 of the capital employed. The net profits amounted to £8,315, of which the sum of £6,945 has been applied in writing down loan charges. The sinking fund established under section 26 of the State Advances Act, 1913, amounts to £45,984, inclusive of the amount held by the Public Trustee (£2,715). Seven freehold and four leasehold securities were realized by the Department during the year. Losses debited, and unpaid instalments in respect of mortgaged properties written off, amount to £183. G. P. C. Campbell, Superintendent. State Advances Office, Wellington, 2nd July, 1917.