STATE ADVANCES

Ashburton Guardian, Volume XLVI, Issue 10457, 25 July 1925, Page 6

STATE ADVANCES

EXPANSION OF BUSINESS. SETTLERS AND WORKERS. Dealing with tho Advances Depart-i-ont, the Hon, W. Nosworthy stated th at the capital of the State Advances Office at March 31 1925, amounted to £96 776 899, am addition of £i,o\)A,ai * last'vear. This latter sum was to provide "the extra funds for advances required for development purposes, the acquisition of houses, and particularly to assist farmers whose mortgages had become due on the expiration of the moratorium. ~ ~ The advances actually paid over numbered 4,533, and amounted to £5 238 880, thus furnishing continued proof of the assistance rendered to settlers and workers throughout the Dominion ,n respect to their fianancial requirements. - The ue-.v loans were as follows: Number Amount. Settle - 3 > 321 4 > 289 ' 875 Worker ... 1874 1,363,280 S'authorities . *137 227,330

Totals- 5,322 £5,880,485 For the purpose of building houses and acquiring homos .a large had been advanced during the last six yearV The following was a table of the loans authorised from April 1,191 J, to March 31, Am(?unt . For housing purposes— ■' & To settlers ... 6,146 3,454 093 To workers ••• iu,Jii °' TO ' To release mortgages on house properties— To settlers ... 2,002 1,34b,49t0 To erect workers' dwellings— . r o, 14 ~ To local authorities M1 ' 1W

Totals 19,558 £11,920,960 \ considerable sum had been moto £7,345,295. , , M x . n 31, Including the yea* endc advanced a 1914, the Depart^ 1 it * a^ oWS._Setl±flV2% work rs, £6,555,506; tiers £15,27 7,295 , *oi local authorities £4,dW AdviMK * s -Fresh capital J Ol ossi ble be *J auld r/ iiS This would raised in New Z^^ ably dearer mean eligbtly P G oV ermneut has money tbaa the i* loam hitherto been * tm , e nt mr* adln order that the J^ 1 costs, just its .lending. jatw * h& flubmltempowenng v ted to you "\f ue ß ?^l dvM ice S DeIn addition the State. AQ partment granted IJg *. purposes to loe.u *uuw £634,145.