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STATE ADVANCES OFFlCE—continued. HO US INC ACCOUNT—continued. Profit and Loss Account fob the Year ended 31st March, 1927. Dr. £ s. d. Gr. £ s. d. To Management Expenses Account .. .. 2,576 4 0 By Interest Account—Gross profits .. .. 1,427 13 7 Dwellings maintenance .. .. .. 923 11 11 Sale of land and dwellings .. .. .. 647 10 6 Losses on realization of securities, and doubtful Balance—Loss for the year .. .. 1,992 811 securities written down.. .. .. 567 17 1 £4,067 13 0 £4,067 13 0 £ s. d. To Balance as at 3Lst March, 1926 .. .. 37,871 14 0 By Principal moneys written off —Freed from £ s. d. Loss for the year .. .. .. .. 1,992 811 liability .. .. .. .. 2,720 6 9 Balance .. .. .. .. 37,143 16 2 £39,864 2 11 £30,864 2 II Interest Account for the Year ended 31st March, 1927. Dr. £ s. d. £ s. d. Cr. £ s. d. £ s. d. To Interest on loans .. .. 29,063 15 7 By Interest on land and dwellings .. 25,030 13 1 Less accrued at 31st March, 1926 4,030 8 3 Less overdue and accrued at 25,033 7 4 31st March, 1926 .. .. 6,536 1 10 Interest on loans accrued but not due .. 4,000 9 2 — 18,494 11 3 Balance—Gross profits transferred to Profit and Interest on amounts temporarily transferred to Loss Account .. .. .. 1,427 13 7 Settlers Branch .. .. .. .. 4,722 10 10 Interest on bank balances .. .. .. 77 5 0 Interest on dwellings and land— £ s. d. Overdue at 31st March, 1927 .. 7,085 17 3 Accrued but not due at 31st March, 1927 .. .. 81 5 9 7,167 3 0 £30,461 10 1 i £30,461 10 1 Management Expenses Account for the Year ended 31st March, 1927. Dr. £ s. d. Gr. £ s. d. To Audit Office services .. .. .. 225 0 0 By Administration expenses .. .. .. 3 4 0 Cleaning, lighting, heating, and messenger Transfer fees .. . . .. ~ 9 10 6 services . . .. .. . . 30 0 0 Balance transferred to Profit and Loss Account 2,576 4 0 Fees paid for special services in respect of securities .. .. .. .. .. 169 19 3 Postages and telegrams .. .. .. 25 0 0 Post Office services .. .. .. 225 0 0 Printing and stationery .. .. .. 100 0 0 Public Service Superannuation Fund contribution .. .. .. .. .. 32 0 0 Rates .. . . .. .. .. 7 10 6 Rent .. .. .. .. .. 100 0 0 Salaries .. .. .. .. 1,400 0 0 Solicitors' costs .. .. .. .. 24 8 9 Valuation Department—Agency work .. 250 0 0 £2,588 18 6 £2,588 18 0 A. A. Prichard, Deputy Superintendent. State Advances Office, Wellington, 30th June, 1927. K. Robertson, Accountant. I hereby certify that the Balance-sheet and accompanying accounts have been duly examined and compared with the books and documents submitted for audit, and correctly state the position as disclosed thereby. .Note. In the absence of statutory authority no provision has been made during the year by this account for redemption of loan liability.—J. EL Fowler, Deputy Controller and Auditor-General. The Profit and Loss Account set out above reveals a loss for the year of £1,992 Bs. lid., hence no provision by the account could be made for redemption of loan liability.—A. A. Prichard, Deputy Superintendent. LOANS TO EMPLOYERS FOB WORKERS' DWELLINGS ACCOUNT. Statement of Liabilities and Assets as at 31st March, 1927. Liabilities. £ s. d. Assets. Sundry loans .. .. .. .. 3,975 0 0 Investment Account—Principal owing by mort- £ s. d. Interest on loans — £ s. d. gagors .. .. .. .. .. 3,030 14 2 Overdue.. .. .. .. 82 18 0 Temporary advances to Settlers Branch .. .. 750 0 0 Accrued .. .. .. 38 15 4 Sinking Fund recouped to Consolidated Fund (from 121 13 10 capital) .. .. .. .. .. 33 711 Profit and Loss Account .. .. .. 13 0 8 Interest on mortgages— £ s. d. Overdue .. .. .. 260 18 0 Accrued .. .. .. 2 15 7 263 13 7 Cash in hand and in bank at 31st March, 1927 .. 31 18 10 £4,109 14 6 £4,109 14 6

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