8.—13,

REPATRIATION. Statement of Liabilities and Assets as at 31st March, 1928. Liabilities. £ s. d. Assets. £ s. d. £ s. d. Liability to Redemption Account as at Ist April, Investment Account —Principal 1925 .. .. .. .. 1,290,182 2 1 owing by mortgagors .. 331,518 16 0 Less repayments to 31st March, 1928 .. 119,324 17 6 Less Suspense adjustments .. 162 12 4 331,356 3 8 1,170,857 4 7 Buildings and farm assets .. .. .. 1,379 1 0 Less expenditure irrecoverable £ s. d. Losses in Suspense.. .. .. .. 4,272 17 10 to 31st March, 1927 .. 824,275 14 3 Interest on bills of sale, overdue .. .. 8,072 3 9 Losses on realization for the ! Cash in hand and in bank at 31st March, 1928 6,185 3 11 year ended 31st March,l92B 10,100 15 6 Management expenses for the year ended 31st March, 1928 3.745 10 2 838,121 19 II 332.735 4 8 Sundry creditors —Treasury— Interest .. .. .. 1,130 17 8 Principal . . . . .. 4,682 3 4 5,813 1 0 Suspense Account . . . . . . . . 372 2 11 Writings-off Suspense .. .. .. 4,272 17 10 Interest on advances from War Expenses Account, overdue .. .. .. 8,072 3 9 £351,265 10 2 j £351,265 10 2 Interest Account for the Year ended 31st March, 1928. Dr. £ s. d. Cr. £ s. d. £ s. d. To Interest paid to Treasury .. .. .. 2,906 4 2 By Interest on bills of sale .. 4,232 19 0 Interest in hand due to Treasury, 31st March. Interest on bills of sale, overdue 1928 .. .. .. .. . . 1,130 17 8 at 3lst March, 1928 .. 8,072 3 9 Interest due to Treasury, overdue at 31st March, 1928 .. .. .. .. 8,072 3 9 12,305 2 9 Less overdue at 31st March, 1927 9,830 3 3 12,109 5 7 Less interest due to Treasury, overdue at 31st 2,474 19 6 March, 1927 .. .. .. .. 9,830 3 3 Less realizations—lnterest .. 311 2 6 2,163 17 0 Interest on temporary loans to Settlers Branch 54 3 4 Interest on bank balances .. .. .. 61 2 0 £2,279 2 4 £2,279 2 4 Management Expenses Account for the Year ended 31st March, 1928. Dr. £ s. d. Or. £ s. d. To Audit Office services .. .. .. 125 0 0 By Sundry fees .. .. .. .. 12 0 Cleaning and messenger services .. .. 50 0 0 Balance recouped in accordance u ith section Commission .. .. .. .. 22 12 6 13 (3), State Advances Amendment Act, 1922 3,745 10 2 Postages and telegrams . . .. .. 330 0 0 Post Office services . . .. . . 420 0 0 Printing and stationery . . .. . . 225 0 0 Rent .. .. . . . . .. 215 0 0 Salaries .. . . . . . . 2,295 0 0 Solicitors' costs . . . . .. . . 51 1 5 Training-expenses . . . . . . . . 12 18 3 £3,746 12 2 £3,746 12 2 Wm. Waddel, Superintendent. State Advances Office, Wellington, 23rd August, 1928. E. 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. —(!. F. C. Campbell, Controller and Auditor-General.

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