£.—1 |PT. IV, SUP. B;.

50

STATE ADVANCES OFFICE. ADVANCES TO SETTLERS BRANCH. Statement of Liabilities and Assets as at 31st Maech, 1926. Liabilities. £ s. d. Assets. £ s. d. Sundry loans .. .. .. .. 18,009,929 19 4 Investment Account—Principal owing by Temporary advances from — mortgagors .. .. .. .. 14,708,826 8 3 Public Debt Sinking Fund £ s. d. Temporary investments .. .. .. 2,158,060 1 5 Branch .. .. 205,000 0 0 Temporary advances to— £ s. d. Advances Office Sinking Fund Workers Branch .. .. 680,000 0 0 Account .. .. 375,000 0 0 Local Authorities Branch .. 441,500 0 0 Miscellaneous Business Branch 93,775 0 0 1,121,500 0 0 673,775 0 0 Sinking Fund investments held by— Amount held for investment on behalf of the Advances Office Sinking Fund Account .. *1,594,103 13 4 Housing Insurance Fund .. .. 3,984 1 0 Interest on mortgages— £ s. d. Advances Suspense Account .. ... 54,914 5 0 Overdue .. 83,916 2 1 Fire Loss Suspense Account .. .. 8,736 7 9 Accrued .. .. 169,162 15 7 Suspense Account .. .. .. 2,374 10 6 253,078 17 8 Income-tax Suspense Account .. .. 4,906 2 6 Interest on temporary investments accrued .. 32,810 13 8 Sundry Creditors .. .. .. .. 2,157 10 1 Office furniture and equipment .. .. 6,156 2 5 Interest on loans accrued but not due .. 163,984 2 7 Sundry debtors .. .. .. .. 22,894 8 7 Reserve for bad debts .. .. .. 22,290 9 7 Loan Charges Account .. .. .. 196,859 14 5 Sinking Fund .. .. .. .. 1,235,438 11 5 Cash in hand and in bank at 31st March, 1926 113,201 0 0 Reserve Fund .. .. .. .. 25,000 0 0 £20,207,490 19 9 £20,207,490 19 9 * This amount includes £358,665 Is. lid., capital paid into the Sinking Fund under the provisions of the State Advances Act. Statement of Profit and Loss Account foe the Year ended 31st Maech, 1926. Dr. £ s. d. Cr. £ s. d. To Management Expenses Account .. .. 28,527 5 6 By Interest Account—Gross profits .. .. 78,536 010 Loss on realization of securities, and doubtful securities written down .. .. .. 12,384 7 3 Office furniture and equipment written down.. 324 3 0 Balance —net profits for the year .. .. 37,300 5 1 £78,536 0 10 £78,536 0 10 £ s. d. £ s. d. To Loan-flotation charges written down .. 11,080 17 9 By Net profits for the year .. .. .. 37,300 5 1 Balance of net profits invested in Advances Income-tax provided for 31st March, 1925 (not Office Sinking Fund Account .. .. 26,443 0 1 now required) .. .. .. .. 223129 £37,523 17 10 £37,523 17 10 Statement of Interest Account for the Yeae ended 31st March, 1926. Dr. £ s. d. £ s. d. Gr. £ s. d. £ s. d. To Interest on loans .. .. 612,046 12 11 By Interest on mortgages .. 603,338 15 3 Less accrued at 31st March, Less overdue and accrued at 1925 .. .. .. 121,281 8 3 31st March, 1925 .. 197,985 13 9 490,765 4 8 405,353 1 6 Interest on loans accrued but not due .. 163,984 2 7 Interest on outstanding payments .. .. 35 17 7 Interest on amounts temporarily transferred Interest on bank balances .. .. .. 1,11168 from other branches .. .. .. 25,490 4 10 Interest on temporary advances to other Balance—Gross profits transferred to Profit branches .. .. .. .. 42,770 0 8 and Loss Account .. .. .. 78,536 0 10 Interest on temporary invest- £ s. d. ments .. .. 30,334 18 7 Less accrued at 31st March, 1925 .. .. .. 6,719 3 5 23,615 15 2 Interest on temporary investments accrued at 31st March, 1926 .. .. .. 32,810 13 8 Interest on mortgages — £ s. d. Overdue at 31st March, 1926 83,916 2 1 Accrued but not due at 31st March, 1926 .. .. 169,162 15 7 253,078 17 8 £758,775 12 11 £758,775 12 11