B.—13.

Interest Account for the Year ended 31st March, 1927. Dr. . £ s. d. £ s. d. | £ s. d. £ s. d To Interest on loans .. .. 2,601 3 0 Cr. Less accrued at 31st March, 1926 1,295 1 4 By Interest on mortgages .. 1,945 13 2 1,306 1 8 | Less overdue and accrued at Interest on loans accrued but not due .. 1,271 6 8 31st March, 1926 .. 1,934 4 8 Balance—Gross profits transferred to Profit and 11 8 6 Loss Account .. .. .. . . 39 16 4 Interest on bank balances .. .. 15 0 0 Interest on temporary advances to Settlers Branch .. . . 566 10 10 Interest on mortgages— Overdue at 31st March, 1927 1,666 6 9 Accrued but not due at 31st March, 1927 . . .. 357 18 7 2,024 5 4 £2,617 4 8 £2,617 4 8 Management Expenses Account for the Year ended 31st March, 1927. Dr. £ s. d. Or. £ s. d. To Administration expenses .. .. .. 95 0 0 By Balance transferred to Profit and Loss Account . . 100 0 0 Audit Office services .. . . .. . . 5 0 0 £100 0 0 £100 0 0 A. A. Prichard, Deputy Superintendent. State Advances Office, Wellington, 30th June, 1927. R. Robertson, Accountant. I hereby certify that the Balance-sheet and accompanying accounts have been duly examined and compared with the hooks 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. H. Fowler, Deputy Controller and Auditor-General. The Profit and Loss Account set out above reveals a loss for the year of £110 Is. lid., hence no provision by the account could be made for redemption of loan liability.—A. A. Prichard, Deputy Superintendent.

COLD-STORAGE ADVANCES ACCOUNT. Statement of Liabilities and Assets as at 31st March, 1927. Liabilities. £ s. d. £ s. d. Assets. £ s. d. Sundry loans .. .. .. 82,750 0 0 Investment Account—Principal owing by mortLess loan liability redeemed and gagors .. . . .. . . .. 41,760 5 0 discharged from Consolidated Temporary advances to Settlers Branch .. .. 30,920 0 0 Fund .. .. 7,500 0 0 Interest on mortgages — £ s. d. Overdue .. .. .. 863 19 5 75,250 0 0 Accrued .. .. .. 742 7 4 Less loan liability redeemed by 1,606 6 9 Public Debt Repayment Ac- Sundry debtors .. .. .. .. 547 10 0 count .. .. .. 980 0 0 Profit and Loss Account .. .. . . 698 12 9 74,270 0 0 , Cash in hand and in bank at 31st March, 1927 .. 3 17 4 Liability to Consolidated Fund in terms of section 22, Finance Act, 1926 .. .. .. 980 0 0 Less Sinking Fund recouped to Consolidated Fund .. .. 926 2 8 53 17 4 Interest on loans — Overdue .. .. •. 417 16 6 Accrued .. .. • . 247 8 0 665 4 6 Reserve for losses on realization and bad debts.. 547 10 0 £75,536 II 10 £75,536 II 10 Profit and Loss Account for the Year ended 31st March, 1927. Dr. £ s. d. Gr. £ s. d. To Management Expenses Account .. .. 115 0 0 By Interest Account—Gross profits .. .. 607 17 6 Losses on realization of securities .. .. 547 10 0 Balance—Loss for the year .. .. .. 54 12 6 £662 10 0 £662 10 0 - £ s.: d. £ s. d. To Balance as at 31st March, 1926 .. .. 1,020 5 3 By Sinking Fund invested in Public Debt RedempLoss for the year .. .. .. .. 54 12 6 tion Fund (refunded) .. .. .. 376 5 0 Balance .. .. .. .. .. 698 12 9 £1,074 17 9 £1,074 17 9

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