8.—13

2

5. The advances current, classified according to the tenure of the securities, are as follows : — ■m T , Amount. Number. s d On freeholds .. 17,568 14,026,976 4 5 On leaseholds .. .. .. .. 8,578 3,412,529 10 8 On freeholds and leaseholds combined .. .. 309 296,061 3 9 Totals .. .. .. .. 26,458 £17,735,566 18 10 6. The advances current on rural and urban and suburban land are as follows : — , T , Amount. JN umber. £ s cl On rural land .. .. .. .. 15,820 11,253,913 8 6 On urban and suburban land .. .. .. 10,638 6,481,653 10 4 Totals .. .. .. .. 26,458 £17,735,566 18 10 7. The commitments in respect of loans granted and not paid over in whole or in part at the 31st March, 1930, amounted to £377,295. 8. The net profits for the year amounted to £32,741 17s. lid. 9. The cost of management was £34,897 15s. 4d., being 0-149 per cent., or 2s. lid. per £100, of the capital employed. 10. Notwithstanding the lower prices ruling during the season for the primary products of the Dominion, settlers generally have continued to pay their instalments in a satisfactory manner, the percentage of arrears to the funds outstanding at the close of the year being only 0-908 per cent. 11. Mortgages and instalments of principal repaid for the year amounted to £1,106,692 lis. lOd. 12. The amount of interest collected was £1,092,802 ss. Id. 13. Twenty-nine leasehold and ninety freehold securities were realized by the Department during the year. 14. On chattel securities thirty-nine advances, amounting to £11,415 were authorized for the year, and the amount paid over to twenty-eight borrowers was £8445. 15. The sinking fund, after redemption of loans totalling £485,365 Is lid., amounted to £1,643,914 6s. Id. at the close of the year. 16. Since its inception in .1894 the Department has advanced to settlers £40,221,615. During that period the losses made were £198,539 195., or 9s. lOd. in every £100 of the amount advanced. The remarkably low loss-rate recorded last year has been well maintained. RURAL ADVANCES BRANCH. 17. During the year the State Advances Board lias authorized 999 advances amounting to £1,841,055, and the following statement shows the amount authorized in each provincial district: — r> • ■ , , T , r Amount of Advances .Provincial dumber oi District. Applications. au °^, 17je Auckland .. .. .. .. .. 397 650,320 Taranaki .. .. .. .. .. 87 164,745 Hawke's Bay .. .. .. .. .. 37 62,155 Wellington .. .. .. .. .. 108 226,020 Marlborough .. .. .. .. .. 22 44,010 Nelson .. .. .. .. .. 24 27,855 Westland .. .. .. .. .. 7 7,150 Canterbury .. .. .. .. 116 266,975 Otago .. .. .. .. .. .. 63 116,615 Southland .. .. .. .. .. 138 275,210 Totals .. .. .. .. 999 £1,841,055 18. The advances paid over during the year aie as follows : — AT , Amount. A'umber. £ Not exceeding £500 .. .. .. .. 88 31,425 Exceeding £500 but not exceeding £1,000 .. .. 171 124,120 Exceeding £1,000 but not exceeding £2,000. . .. 266 405,515 Exceeding £2,000 but not exceeding £3,500.. .. 165 464,165 Exceeding £3,500 but not exceeding £5,500.. .. 89 381,635 Totals .. .. .. .. 779 £1,406,860