8.—13

6

Statement op Interest Account for the Year ended 31st March, 1924. Dr. £ a. d. £ s| d. Or. £ s, d. £ s. d. To Interest on loans .. .. 358,941 3 9 By Interest on mortgages .. 338,632 5 10 Less accrued at 31st March, Less overdue and accrued at 1923 .. .. 75,055 9 3 31st March, 1923 .. 117,540 18 3 283,885 14 0 221,091 7 7 Interest on loans accrued but not due • .. 104,243 17 4 Interest on outstanding payments .. .. 1 12 3 Interest on amounts temporarily transferred Interest on bank balances . . .. .. 401 1 3 from other branches .. .. .. 19,268 10 9 Interest on temporary advances to other Balance —Cross profits transferred to Profit branches .. .. .. .. 03,897 8 9 and Loss Account .. .. .. 61,305 14 7 Interest on temporary investments .. .. 42,907 5 8 Less accrued at 31st March, 1923 .. .. 18,413 8 3 24,553 17 5 Interest on temporary investments accrued at 3lst March, 1924 " .. .. .. 0,829 2 4 Interest on mortgages— Overdue at 3.lst March, 1924 45,861 8 3 Accrued but not due at 31st March, 1924 .. .. 106,007 19 4 151,929 7 7 £468,703 17 2 £468,703 17 2 Statement of Management Expenses Account for the Year ended 31st March, 1924. Dr. £ a. d. Or. £ s. d. To Advertising, newspapers, &c. .. .. 28 0 4 By Consent fees .. .. .. .. 22 5 0 Allowances in respect of increased work .. 239 18 4 Cost of preparation of mortgages .. .. 8 3 6 Audit Office services .. .. .. 250 0 0 Production fees .. .. .. .. 565 18 9 Cleaning, lighting, heating, and messenger Release fees .. .. .. .. 406 4 5 services .. .. .. .. 296 16 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 .. .. 1,31111 8 Office maintenance .. .. .. 205 15 7 Postages and telegrams .. .. .. 960 7 5 Post Office services .. .. .. 1,420 2 4 Printing and stationery .. .. .. 896 0 4 Rent .. .. .. .. .. 1,011 7 1 Salaries .. .. .. .. .. 14,999 18 11 Solicitors' costs and Court costs .. .. 4 15 7 Telephones .. .. .. .. 48 0 9 Travelling-expenses .. .. .. 397 1 8 Typewriters and adding-machines—Repairs .. 73 17 10 Valuation Department—Agency work .. 650 0 0 £22,936 19 8 £22,936 19 8 Wm. Waddel, Superintendent. State Advances Office, Wellington, I.lth June, 1924. R. Robertson, Accountant. The Audit Office, having examined the balance-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 BBANCH. Statement op 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 investments held by—• Advances Suspense Account .. .. 102,470 0 0 Advances Office Sinking Fund £ s. d. Fire Loss Suspense Account .. .. 251 10 7 Account .. .. 04,224 13 1 Suspense Account .. .. .. .. 290 19 8 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 0 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 02,205 18 0 Insurance Premium Account .. .. 169 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 £4,814,628 6 11 , £4,814,028 0 11 * This amount includes £18,224 15s. Od. capital paid into the sinking funds under the provisions of the State Advances Act.