STATE LENDING ACTIVITIES
REPORT OF ADVANCES OFFICE,
[Fuoit Odr Pari.iamentarv Reporter.]
WELLINGTON, July 18,
The State Advances Office report, presented to Parliament, showed that tho advances actually paid over to settlers during the year totalled £580,010, the number of advances under this head being 1,122. Tho net profits of this branch amounted to £29,254, and £1,600 was paid in income tax. A balance of £24,891 was transferred to sinking fund, which, after redemption of loans totalling £55,000, amounted to £1,403,177.
Advances to 1,585 workers during the year totalled £783,820, bringing the total to £3,253,025. During the year the not profits amounted to £11,228, and £1,500 was paid in income tax. A sum of £8,164 was transferred to the Reserve Fund, and, after redemption of loans totalling £18,700, the sinking fund amounted to £67,952, To 145 local bodies £191,565 was paid over, and local bodies were now indebted to llte extent of £257,071 in respect to principal moneys. The net loss in respect to local authorities amounted to £4,425, which would 1 in course of time disappear, tho sinking fund being no longer a charge on caul I al.
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Bibliographic details
Evening Star, Issue 18331, 19 July 1923, Page 10
Word Count
188STATE LENDING ACTIVITIES Evening Star, Issue 18331, 19 July 1923, Page 10
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