8.—13

9

ADVANCES TO WORKERS BRANCH. Statement of Liabilities and Assets as at 31st March, 1930. Liabilities. £ s. d. Assets. £ a. d. Sundry loans .. .. .. .. 11,866,549 10 4 Investment Account—Principal owiug by mortTemporary advances from Settlers Branch .. 2,700,000 0 0 gagors .. .. .. .. 14,220,774 3 5 Liability to Railway Department (Railway Sinking Fund Investments held by Advances housing) .. .. .. .. 16,880 0 0 Office Sinking Fund Account .. 75,030 10 0 Advances Suspense Account .. .. 143,111 18 6 Interest on mortgages — £ s. d. Fire Loss Suspense Account .. .. 2,790 10 0 Overdue .. .. 109,690 11 1 Suspense Account .. .. .. 4,991 2 0 Accrued .. .. 181,953 3 9 Income-tax Suspense Account .. .. 6,300 0 6 — 291,643 14 10 Sundry creditors .. .. .. .. 1,161 15 5 Unregistered Transfers Account (Railway emInterest on loans accrued but not due .. 101,262 5 2 ployees) .. .. .. .. 16,880 0 0 Reserve for bad debts .. .. .. 4,072 12 11 Sundry debtors .. .. .. .. 1,235 10 11 Sinking Fund .. .. .. .. 75,030 10 0 Realization Suspense Account .. .. 7,967 15 10 Loan Charges Account .. .. .. 206,812 5 7 Profit and Loss Account .. .. .. 42,009 2 8 Cash in hand and in bank at 31st March, 1930 59,797 1 7 £14,922,150 4 10 £14,922,150 4 10 Profit and Loss Account for the Year ended 31st March, 1930. Dr. £ s. d. Cr. £ s. d. To Management Expenses Account .. .. 9,324 0 0 By Interest Account—Gross profits .. .. 43,778 14 3 Loss on realization of securities .. .. 3,170 310 Loan-flotation charges written down .. 15,396 15 7 Income-tax .. .. .. .. 6,300 0 6 Balance —Net profits for the year .. .. 9,587 14 4 £43,778 14 3 £43,778 14 3 Dr. £ s. d. Cr. £ s. d. To Balance as at 31st March, 1929 .. .. 51,596 17 0 By Net profits for the year .. .. .. 9,587 14 4 Balance .. .. .. .. 42,009 2 8 £51,596 17 0 £51,596 17 0 Interest Account for the Year ended 31st March, 1930. Dr. £ s. d. £ s. d. Cr. £ s. d. £ s. d. To Interest on loans .. .. 525,893 0 5 By Interest on mortgages .. 601,849 1 5 Less accrued at 31st March, Less interest overdue and 1929 .. .. 81,946 14 11 accrued at 31st March, 443,946 5 6 1929 .. .. 225,165 2 8 Interest on amounts temporarily transferred 376,683 18 9 from other branches .. .. .. 86,886 1 8 Interest on bank balances .. .. 315 0 2 Interest on Railway expenditure (erection of Interest on outstanding payments .. .. 71 9 10 dwellings) .. .. .. .. 584 18 6 Interest on temporary investments .. 7,744 1 6 Interest on loans accrued but not due .. 101,262 5 2 Interest on mortgages — £ s. d. Balance—Gross profits transferred to Profit Overdue at 31st March, 1930 109,690 11 I and Loss Account .. .. .. 43,778 14 3 Accrued but not due at 31st March, 1930 .. .. 181,953 3 9 — 291,643 14 10 £676,458 5 I £676,458 5 1 Management Expenses Account for the Year ended 31st March, 1930. Dr. £ S. d. Cr. £ s. d. To Audit services .. .. .. . ■ 200 0 0 By Consent fees .. .. .. .. 2 0 0 Cleaning, lighting, heating, and messenger Cost of preparation of mortgages .. .. 96 14 0 services .. . ■ .. • • 175 0 0 Inspection fees .. .. .. .. 43 1 2 Contingencies .. .. .. • • 3 3 0 Production fees .. .. .. .. 397 14 0 Court costs and solicitors'costs .. .. 16 8 0 Release fees .. .. .. -• 110 19 5 Management charges on New Zealand stock and Sundry fees .. .. .. •• 1600 bonds .. .. •• •• 1,877 17 0 Balance transferred to Profit and Loss Account 9,324 0 0 Post Office services .. .. . • 550 0 0 Postages and telegrams .. .. .. 272 18 1 Printing and stationery .. .. .. 100 0 0 Public Service Superannuation Fund contribution .. .. .. .. • • 40 0 0 Rent .. .. .. • • • ■ 600 0 0 Salaries .. .. .. .. •• 5,754 0 0 Travelling-expenses .. .. .. 51 2 6 Valuation Department —Agency work .. 350 0 0 £9,990 8 7 £9,990 8 7 Wm. Waddel, Superintendent. State Advances Office, Wellington, 23rd June, 1930. R. Robertson, Accountant. I hereby certify that the balance-sheet and accompanying accounts have been duly examined and compared witli the books and documents submitted for audit, and correctly state the position as disclosed thereby.— 6. F. C. Campbell, Controller and Auditor-General.

2—B. 13.