H—lB

51. In 1943 the Education Committee of the Board, in collaboration with the Veterinary Services Council, selected three ex-servicemen for veterinary science studies at the Sydney University, and since then several applications have been approved annually. Up to the present time a total of 37 New Zealand ex-servicemen have received varying amounts of educational assistance towards their studies in this profession. 52. Apart from the usual benefits included under a normal overseas bursary, the Board allows these bursars certain travelling expenses and allowances for necessary practical studies away from Sydney, and loan facilities are granted towards the cost of necessary text-books and instruments In addition, the New Zealand Government pays any Commonwealth taxation charges levied on rehabilitation subsistence allowances in order to place these bursars on the same basis as full-time rehabilitation students in New Zealand, where subsistence allowance is exempt from taxation. Since 1949 an annual subsidy of £1,500 (Aust.) has been paid to the Sydney University towards the cost of training ex-servicemen in the Veterinary Faculty. 53. In addition to the veterinary science students trained in Sydney, a few New Zealand ex-servicemen upon discharge in the United Kingdom were also granted assistance to qualify at such well-known veterinary institutions as the Royal (Dick) Veterinary College, Edinburgh, and the London Veterinary College. 54. At this stage it is not anticipated that any new applications for full overseas assistance will be received, but the number of ex-servicemen who have already been assisted in veterinary science should later play a prominent part in the different fields ef primary production such as the dairying and pig-breeding industries. SECTION VIII—DEPARTMENTAL AND LOAN EXPENDITURE 55. Departmental expenditure and loan authorizations for rehabilitation purposes for the year ended 31st March, 1950, totalled £17,047,610, representing a decrease of £2,279,064 by comparison with the total of £19,326,674 for the previous year. 56. Details of departmental expenditure are summarized in Table V of the Appendix, while details of loan authorizations appear in Table 11. SECTION IX—LOAN FACILITIES 57. Table II of the Appendix details the totals of loan authorizations under various headings from the commencement of operations to 31st March 1950. Although the loan figures for the year ended 31st March, 1950, show a slight decrease it will be noted that the year has been one of considerable activity. The successful handling of such a large volume of loan business is due in no small measure to the Board's policy of decentralization and the efficient functioning of the nine District Loans Committees under the general direction of the Rehabilitation Loans Committee. Mention must also be made of the assistance received from the administrative and field staffs of the State Advances Corporation, who are largely responsible for the executive and administrative action on these loans. 58. The satisfactory employment position has enabled borrowers to meet their obligations under their housing loans, and the favourable farming conditions over the past few seasons is reflected in the satisfactory manner in which farm loans are being repaid. The general position regarding business loans is also satisfactory, but there are a considerable number of furniture and tools-of-trade loans in arrears. It does

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