ADVANCES TO SETTLERS.

Daily Telegraph (Napier), Issue 9292, 20 July 1901, Page 5

ADVANCES TO SETTLERS.

{FROM OUR PARLIAMXNIaRY

REPORT* 11.)

f.BY TELEGRAPH.]

Wellington, last night,

The report of the superintendent of the Advances to Settlers Office for the year ending 31st March last was presented to Parliament yesterday. The instalments of interest and principal to the 31st March, 19U0, have, he states, been collected in full. The department have no securities on their hands. Up to the 31st March, 1901, the Board had authorised 9931 advances, amounting to £3,224,900. The total amount asked for by the 9931 applicants was £3,691,005.- A total of 1230 applicants declined the grants offered them, amounting to £565,380, so that the net advances authorised numbered 8701,. and amounted to £2,679,520. The securities for the net authorised advances were valued at £5,859,039, and these were" in many instances being enhanced by.the expenditure- on improvements oi part of the money borrowed and the liability reduced by fche periodical repayment of principal. In the ,ca'ee\ of instalment loans, the number of applica!ions received to the 31st March, 1901, was 12,999, for an aggregate amount of £4,540,818. The manner in which instalments continue to be met by mortgagors is, says the superintendent, highly satisfactory, and has in no small degree contributed lo the result obtained on the year's operations. The one per cent, sinking fund now in the hands of the Public Trustee amounts to £70,839, The balance at credit of the aicount, including interest to 31st March, amounts to £20,127 17a 7d. The details attached to the report show that during the year ending 3lst March last the number of applications for advances from Hawke's Bay was 725. The amount applied for was £223,410, and the amount authorised was £199,270.