8.—13

5

MISCELLANEOUS BUSINESS BRANCH. Repatriation. During the year the sum of £145,075 15s. 9d., principal moneys, was repaid by borrowers. In respect of business loans 2,441 borrowers are now indebted to the extent of £321,233 lis. 10d., and 10,759 borrowers in respect of furniture loans £258,509 3s. sd.—a total of £579,742 15s. 3d. in respect of principal moneys. Housing Account. The following is a statement showing the amount expended for the year ended 31st March, 1924, in '.£ s. d. Acquiring land .. .. .. .. .. 1,422 0 0 Preparing land for dwellings .. .. .. .. 322 14 11 Erecting dwellings .. .. .. .. .. 7,135 5 0 Tota] .. £8,879 19 11 During the year 14 dwellings were erected and 55 disposed of. The payments received for the year ended 31st March, 1924, amounted to £61,435. Loans to Employers for Workers' Dwellings Account ; Fishing Industry Promotion Account ; Fruit - preserving Industry Account ; Cold - storage Advances Account. A statement in respect of each of the above accounts to the 31st March, 1924, is attached. Wm. Waddel, Superintendent. State Advances Office, Wellington, I.lth Juno, 1924.

STATE ADVANCES OFFICE. ADVANCES TO SETTLERS BRANCH. Statement op Liabilities and Assets as at 31st March, 1924. Liabilities. £ s. d. Assets. £ s. d. Sundry Joans .. .. .. . . 10,640,604 13 3 Investment Account —Principal owing by mortTemporary advances from Advances Office gagors .. .. .. .. .. 9,501,194 5 3 Sinking Fund Account .. .. .. 160,500 0 0 Temporary advances to Workers Branch .. 775,000 0 0 Temporary advances from Public Debt Sinking Temporary advances to Local Authorities Branch 256,500 0 0 Fund Branch .. .. .. .. 304,000 0 0 Temporary advances to Miscellaneous Business Advances Suspense Account .. .. 67,420 0 0 Branch.. .. .. .. .. 82,700 0 0 Fire Loss Suspense Account .. .. 3,870 3 3 Sinking Fund investments Suspense Account .. .. .. .. 10,314 7 10 held by— Income-tax Suspense Account .. .. 8,292 10 9 Advances Office Sinking £ s. d. Sundry creditors .. .. .. .. 2,813 18 2 Fund Account .. 1,474,789 14 8 Interest on loans accrued but not due .. 104,243 17 4 Public Debt Sinking Fund Sinking Fund .. .. .. .. 1,054,415 0 10 Branch .. .. 18,290 8 1 Reserve Fund .. .. .. .. 25,000 0 0 * 1,493,080 2 9 Interest on mortgages— Overdue 1". .. 45,861 8 3 Accrued .. .. 100,067 19 4 151,929 7 7 Interest on temporary investments accrued .. 0,829 2 4 Office furniture and equipment .. .. 3,122 1 11 Insurance Premium Account .. .. 502 3 3 Sundry debtors .. .. .. .. 45 8 5 Loan Charges Account .. .. .. 3,903 17 5 Realization Account .. .. .. 3,241 16 9 Cash in hand and in bank at 31st March, 1924 3,420 5 9 £12,281,474 11 5 ' £12,281,474 11 5 * This amount includes £438,665 Is. lid. capital paid into the linking funds under the provisions of the State Advances Act. Statement op Profit and Loss Account for the Year ended 31st March, 1924. Dr. £ s. d. Cr. £ 8. d. To Management Expenses Account .. .. 21,934 8 0 By Interest Account —Cross profits .. .. 61,305 14 7 Loses on realization of securities and doubtful securities written down .. .. .. 2,451 7 3 Office Furniture and Equipment Account written down .. .. .. .. 164 (i 5 Balance —Net profits for the year .. .. 36,755 12 11 £61,305 14 7 £61,305 14 7 £ s. d. £ s. d. To Loan-flotation charges written down .. 205 0 0 By Net profits for the year .. .. .. 36,755 12 11 Sinking fund invested in Public Debt Branch 1,515 14 11 Income-tax .. .. .. .. 7,210 18 0 Balance —Net profits invested in Advances , Office Sinking Fund Account .. .. 27,824 0 0 £36,755 12 11 £36,755 12 11