8.— 13.

RURAL ADVANCES BRANCH. Statement of Liabilities and Assets as at 31st March, 1935. Liabilities. £ s. d. Assets. £ s. d. £ g. d -Bonds issued .. .. .. .. 4,213,050 0 0 Investment AccountTemporary advances from Settlers Branch .. 695,000 0 0 Advances not due .. 4 405 382 12 0 Advances Suspense Account .. .. 172 0 0 Instalments of principal Fire Loss Suspense Account .. .. .. 3,393 0 0 overdue .. .. 61,534 13 2 Income-tax Suspense Account .. .. 3,618 3 1 Principal owing by Sundry creditors .. 17 2 4 mortgagors .. 4,466,917 5 2 Weekly rental and instalment collections held Interest on mortgages pending allocation .. .. .. 18,965 6 8 Overdue .. .. 270,682 14 9 Interest on loans accrued but not due .. 7,513 4 0 Accrued .. 17 6 Reserve for bad debts .. .. .. 54,299 2 1: __! 32(j 022 12 3 Stamp duty due under section 47 (2) of the National Expenditure Adjustment Act, 1932.. 4,172 10 0 I Sundry debtors .. .. .. 018 1 i Half-yearly instalments postponed— £ s. d. Interest .. .. 10,401 16 1 I Principal .. .. 3,451 7 8 13,853 3 9 Securities Protection Suspense Account 596 1 7 : Realization Suspense Account .. .. 15,102 1 5 Loan Charges Account .. .. .. 151,981 13 3 ; Cash in hand and in bank at 31st March, 1935 .. 17,381 12 8 £4,996,027 18 j £4,996,027 18 2 Promt and Loss Account foe the Yeae ended 31st March, 1935. Dr. £ s. dj Of, £ s d To Management Expenses Account .. .. 10,680 10 3 By Interest Account: Gross profits .. ..23 432 911 Loan-flotation charges written down .. 12,665 2 g Balance: Loss for the year 3531 6 1 Income-tax .. .. .. .. 3,618 3 1 £26,963 16 0 £26,963 16 0 :....• ' :■', ■} , i £ s. d. £ s d To Loss for the year .. .. .. .. 3,531 6 1 By Income-tax refunded .. .. .. 7,007 0 4 Balance transferred to Reserve for bad debts .. 3,475 14 3 £7,007 0 4 £77007 ol Interest Account foe the Year ended 31st March, 1935. Dr. £ s. d. £ s. d. Cr. £ s . d. £ s d To Interest on bonds .. 170,895 12 6 By Interest on mortgages .. 241,590 9 7 Less accrued at 31st Interest on mortgages— March, 1934 .. 7,471 4 11 Overdue at 31st March, 163,424 7 7 1935 .. .. 270,682 14 9 Interest on bonds accrued but not due .. 7,513 4 0 Accrued but not due at Interest on amounts temporarily transferred 31st March, 1935 .. 55 339 17 6 from Settlers Branch . . .. .. 27,233 6 8 Balance : Gross profits transferred to Profit 5g7 gj3 j jy and Loss Account .. .. .. 23,432 911 Less overdue and accrued at 31st March, 1934 .. .. 346,083 710 221,529 14 0 Interest on bank balances .. 48 12 9 Interest on outstanding payments .. .. 25 1 5 £221,603 8 2 £221,603 8 2 Management Expenses Account foe the Year ended 31st March, 1935. Dr. £ s. d. Or. £ s d To Audit Office services .. .. .. 145 0 0 By Consent fees .. .. .. 1 15 6 Cleaning, lighting, heating, and messenger ser- Cost of preparation of mortgages '.'. 313 6 vices .. .. .. .. .. 120 0 0 Production fees .. .. 41 17 0 Exchange on and cost of remittances .. .. 7 14 10 Release fees . . 6 15 0 Postages and telegrams .. .. .. 169 11 8 Balance transferred to Profit and Loss Account" 10,680 10 3 Post Office services .. .. .. 205 0 0 Printing and stationery .. .. .. 150 0 0 Public Service Superannuation Fund contribution 65 0 0 Rent .. .. .. .. .. 170 0 0 Salaries .. .. .. .. .. 7,399 0 0 Solicitors' costs and Court costs .. .. 753 4 3 Travelling-expenses .. .. .. 50 0 0 Valuation Department: Agency work .. 1,500 0 0 £1 0>734 10 9 £10,734 10 9 G. E. Miller, Superintendent. State Advances Office, Wellington, 17th June, 1935. R. Eobertson, Accountant. I hereby certify that the Balance-sheet and the accompanying accounts have been duly examined and compared with the books and documents submitted for audit, and correctly state the position as disclosed thereby, except that the amount of exchange paid in respect of the interest which has been paid in London on the loans of this account has not been charged to the account, but has been borne by the Consolidated Fund.— J. H. Fowler, Deputy Controller and Auditor-General.

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