B.—l [Pt. IV, Sup. B].

45

STATE ADVANCES OFFlCE— continued. ADVANCES TO SETTLERS BRANCH— continued. Statement of Management Expenses Account for the Year ended 31st March, 1924. Dr. £ s. d. Or. £ s. d. To Advertising, newspapers, &c. .. .. 28 6 4 By Consent fees .. .. .. .. 22 5 0 Allowances in respect of increased work .. 239 18 4 Cost of preparation of mortgages .. . . 8 3 0 Audit Office services .. .. .. 250 0 0 Production fees .. .. .. .. 565 18 9 Cleaning, lighting, heating, and messenger Release fees .. .. .. .. 406 4 5 services .. .. .. .. 296 10 5 Balance transferred to Profit and Loss Account 21,934 8 0 Contingencies .. .. .. .. 13 4 Fees paid for special services in respect of securities .. .. .. .. 81 10 1 Meal allowances and overtime .. .. 1,311 11 8 Office maintenance . . .. .. 265 15 7 Postages and telegrams .. . . . . 960 7 5 Post Office services .. .. .. 1,420 2 4 Printing and stationery .. .. .. 896 6 4 Rent .. .. .. .. .. 1,011 7 1 Salaries .. .. .. .. .. 14,999 18 11 Solicitors' costs and Court costs .. .. 415 7 Telephones .. .. .. .. 48 0 9 Travelling-expenses . . .. .. 397 1 8 Typewriters and adding-maohines—Repairs . . 73 17 10 Valuation Department—Agency work .. 650 0 0 £22,936 19 8 £22,936 19 8 Wm. Waddel, Superintendent. R. Robertson, Accountant. The Audit Office, having examined the balanco-sheet and accompanying accounts and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith.—G. F. C. Campbell, Controller and Auditor-General. ADVANCES TO WORKERS BRANCH. Statement of Liabilities and Assets as at 31st March, 1924. Liabilities. £ s. d. Assets. £ s. d. Sundry loans .. .. .. .. 3,784,387 17 10 Investment Account—Principal owing by mortTemporary advances from Settlers Branch .. 775,000 0 0 gagors .. .. .. .. .. 4,591,489 10 2 Interest on loans accrued but not due .. 29,338 0 7 Sinking fund in vestments held by— Advances Suspense Account .. .. 162,470 0 0 Advances Office Sinking Fund £ s. d. Fire Loss Suspense Account .. .. 251 10 7 Account .. .. 64,224 1.3 I Suspense Account .. .. ~ .. 290 19 S Public Debt Sinking Fund Income-tax Suspense Account .. .. 1,041 7 0 Branch .. .. 7,315 13 8 Sundry creditors '.. .. .. .. 1,000 4 4 *71,540 6 9 Sinking Fund .. .. .. .. 53,315 11 0 Interest on mortgages — Reserve Fund .. .. .. .. 7,532 9 11. Overdue .. .. 13,728 7 3 Accrued .. .. 48,477 11 3 62,205 18 6 Insurance Premium Account .. .. 1.69 15 9 Loan Charges Account .. .. .. 83,689 3 9 Realization Account .. .. .. 90 19 8 Cash in hand and in bank at 31st March, 1924 .. 5,442 12 4 £4,8.14,628 0 11. £4,814,628 6 11 * This amount Includes £18,224 15s. OJ. capital paid into the sinking funds under the provisions of tlio State Advances Act. Statement of Profit and Loss Account for the Year ended 31st March, 1924. Dr. £ s. d. Or. £ s. d. To Management Expenses Account .. .. 4,336 1 7 By Interest Account—Gross profits .. .. 8,980 13 9 Loss on realization of securities and tloubtful securities written down .. .. .. 62 3 9 Balance—Net profits for the year .. .. 4,582 8 5 £8,980 13 9 £8,980 13 9 £ s. d. . £ s. d. To Income-tax .. .. .. '.. 890 7 1 By Net profits for the year .. .. .. 4,582 8 5 Loan-flotation charges written down .. 4,352 0 0 Balance from Reserve Fluid .. .. -1,222 8 7 Sinking fund invested in Public Debt Branch .. 562 9 11 £5,804 17 0 £5,804 17 0