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LOANS TO EMPLOYERS FOR WORKERS' DWELLINGS ACCOUNT. Statement op Liabilities and Assets as at 31st March, 1932. Liabilities. £ s. d. Assets. £ s. d. Sundry loans .. .. .. .. 3,975 0 0 Investment Account—Principal owing by mortgagors 2,145 15 8 Income-tax Suspense Account .. .. .. 5 112 Temporary advances to Settlers Branch . . ..1,660 0 0 Interest on loans — £ s. d. Sinking Fund investments held by Public Debt Overdue .. .. .. 119 15 1 Redemption Fund .. .. .. . . 44 13 5 Accrued .. . . .. 38 15 5 Interest on mortgages— 158 10 6 Overdue .. .. .. .. .. 292 16 0 Sinking Fund .. .. .. . . 44 13 5 Cash in hand and in bank at 31st March, 1932 .. 88 17 10 Profit and Loss Account .. .. .. 48 7 10 £4,232 2 11 £4,232 2 11 Profit and Loss Account for the Year ended 31st March, 1932. Dr. £ s. d. Cr. £ s. d. To Administration expenses .. . . .. 10 0 0 By Interest Account —Gross profits .. .. 29 4 3 Income-tax .. .. .. .. .. 5112 Balance —Net profits for the year .. 13 13 1 £29 4 3 £29 4 3 £ s. d. £ s. d. To Balance —Net profits carried forward .. .. 48 710 By Balance as at 31st March, 1931 .. .. 34 14 9 Net profits for the year .. .. 13 13 1 £48 7 10 £48 7 10 Interest Account for the Year ended 31st March, 1932. Dr. £ s. d. £ s. d. Or. £ s. d. £ s. d. To Interest on loans .. .. 159 0 0 By Interest on mortgages .. 129 5 0 Less accrued at 31st March, 1931 38 15 5 Interest on mortgages overdue at 31st 120 4 7 March, 1932 .. .. 292 16 0 Interest on loans accrued but not due .. .. 38 15 5 Balance —Gross profits transferred to Profit and 422 1 0 Loss Account .. .. .. .. 29 4 3 Less overdue and accrued at 31st March, 1931 .. .. 308 11 9 113 9 3 Interest on bank balances .. .. .. 0 15 0 Interest on temporary advances to Settlers Branch 74 0 0 £188 4 3 £188 4 3 Management Expenses Account for the Year ended 31st March, 1932. Dr. £ s. d. Cr. £ s . d. To Administration expenses .. .. .. 10 0 0 By Balance transferred to Profit and Loss Account .. 10 0 0 £10 0 0 £10 0 0 E. O. Hales, Superintendent. State Advances Office, Wellington, 23rd June, 1932. R. 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. — J. H. Fowler, Deputy Controller and Auditor-General.

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