PUBLIC TRUST OFFICE FUNDS.

Press, Volume LX, Issue 18186, 24 September 1924, Page 10

PUBLIC TRUST OFFICE FUNDS.

TEMPORARY CURTAILMENT OF LOANS. (SPECIAL TO "THE THESS.") • WELLINGTON, September 23. The past mouth, August, has been a busy one in-the settlement of loaii3 previously granted, and a sum of £301,885 has been paid out, £220,025 to private mortgagors and £BI,BOO to local bodies. During the same period further loans were granted, representing a total sum of £220,750 —private mortgagors £212,500 and local bodies £8250. The following statement shows the amount to which tho office is at present committed:— £ Loans granted (but not yet paid) .. .. 837,531 Loans offered (but not yet accepted) .. .. 199,850 Total ...•■■' .p £1,037,381 Of this total, £596,501 represents loans on mortgage, while the balance of £440,880 represents loans to local bodies. In addition to the above commitments, applications for advances on mortgage totalling £203,415, and for advances, to local bodies totalling £29,500 are on hand, a total of £232,915. lii view of the heavy commitments abovementioned, it has been necessary to curtail for the present the entertainment of further loans. . ". The total amount paid out by way Of loans from April. Ist to August 31st is £1,349,297 —private mortgagors £970,421, and local bodies £378,876. The total loans programme of the office for this year will be: £ Loans paid .. .. 1,349,297 .Offers made .. .. 1,037,381 Applications on hand .. 203,415 Total .. . ..£2,590,093