8.-13

3

The total of advances to workers now current and the tenure of the securities are as follows :— t„ , Amount. Number. ~ ad On freeholds .'. .. .. .. 11,616 4,255,927 3 6 On leaseholds .. .. .. .. 801 335,562 6 8 Totals .. .. .. ..12,417 £4,591,489 10 2 The advances to workers actually paid over during the year ended 31st March, 1924, on freehold and leasehold are as follows :— AT , Amount. Number. „ On freeholds .. .. .. .. ..2,319 1,666,920 On leaseholds .. .. .. .. 235 116,030 Totals .. .. .. ..2,554 £1,782,950 The gross profits for the year ended 31st March, 1924, were £8,980, and the cost of management and expenses of the branch £4,336, being 0-095 per cent., or Is. lid. per £100 of the capital employed. £ s. d. The net profits for the year amounted to .. .. .. .. 4,582 8 5 The following are the appropriations from profits for the year : — £ s. d. Loan-flotation charges written down .. .. .. 4,352 0 0 Amount paid to Public Debt Sinking Fund Branch .. .. 562 911 Income-tax .. .. .. .. .. .. 890 7 1 Balance transferred from Reserve Fund. . .. .. 1,222 8 7 £5,804 17 0 £5,804 17 0 The sinking fund, after redemption of loans totalling £187,000, amounts to £71,540. Losses debited, and unpaid instalments in respect of mortgaged properties written off, amount to £91. Wm. Waddel, Superintendent. State Advances Office, Wellington, 11th June, 1924.

ADVANCES TO LOCAL AUTHORITIES BRANCH. The following is a statement showing the advances under this branch authorized during the year ended 31st March, 1924, classified according to provincial districts : — „ . . , v, _r,-_ . Amount of Advances Provincial Number 01 ~ . , District. Applications. authorized. Auckland.. .. .. .. .. ..59 110,835 Taranaki .. .. .. .. .. ..13 11,605 Hawke'sßay .. .. .. .. .. 4 12,365 Wellington ' .. .. .. .. .. 19 27,150 Nelson .. .. .. .. .. .. 1 2,500 Canterbury .. .. .. .. .. 6 20,960 Otago .. .. .. .. .. .. 2 8,500 Southland .. .. .. .. ..2 6,250 Totals .. .. .. .. ..106 £200,1.65 The amount actually paid over to 130 local bodies during the year was £153,445. Loans to the number of 1,634 have been made to local bodies. They are now indebted to the extent of £2,670,138 15s. 9d. in respect of principal moneys. The net loss amounted to £8,919 os. 7d. The sinking fund amounts to £312,394. Wm. Waddel, Superintendent. State Advances Office, Wellington, 11th June, 1924.

PUBLIC DEBT SINKING FUNDS BRANCH. The following is a statement showing the advances under this branch authorized during the year ended 31st March, 1924, classified according to provincial districts : —■ Provincial Number of o ™^ n^ noeß District. Advances to Settlers. Applications. £ Auckland .. 13 2,350 Taranaki .. .. .. .. .. ■■ 2 400 Hawke'sßay .. .. .. .. ..2 650 Wellington .. .. .. ... .. ..17 4,075 Marlborough .. .. .. .. .. 1 500 Nelson .. .. .'. .. •• .-1 3,500 Canterbury .. .. .. .. .. ..7 1,170 Otago .. .. .. .. .. -.1 100 Totals .. .. .. .. ..44 £12,745