STATE LOAN DEPARTMENT.

Otago Witness, Issue 3097, 23 July 1913, Page 3

STATE LOAN DEPARTMENT.

LAST YEARS OPERATIONS, (From Our Own Correspondent.) WELLINGTON, July 15. The nineteenth annual report of the State-guaranteed Advances Offices, which was presented to Parliament to-day, states that during tho year ended March 31 advances were made to 2019 settlers, tho total loans being £850,300. The total amount, of the advances paid over during the year for both advances to settlers and advances to workers was £1,299,580. The advances to settlers authorised during the year totalled 2114, the total amount authorised being £749,590. The advances now current total 18,397, representing £7,457,817. Of this amount £2,807,485 i* loaned in sums not ox'cccding £SCO- - in sums from £SOO to £1000; £1,913,311 in sums from £IOOO to £2000: and £531,034 in sums from £2OOO to £3OOO. The sum of £5.583,222 is advanced on freeholds; £1,909.063 on leaseholds; and £165,531 on freeholds and leaseholds combined.. The amount advanced on rural lands is £4,873,592, and that on urban and suburban lands is £2,584,225. The amount paid over during tho ;aet financial year was £85p.300. The gross profit for the year was £85)502, and tho net profit £73,264. Tho losses on securities debitc-d during the year amounted to only £6. Tho district with tho highest amount of advances authorised during the year was Auckland, with £354,235, Wellington coming next with £144.110. During the year the sum of £397.175 was advanced to 1254 workers, of whom 416 (£136,515) were in tho Auckland district, 262 (£85,185) in the Wellington dif-trict, and 266 (£25,025) in tho Canterbury district. Tho total amount now advanced to workers :s £2,007,917. 'l'iie sum paid over during tho year was £449,260, £437,835 being advanced on freehold and £11,425 on leasehold. Tho gross profits for the year were £13,835, and tho not profits £11,262. Two freehold securities were realised during the year, tho losses debited amounting to £179. The amount of advances to local bodies provisionally apm'oved during the year amounted to £136,573, Auckland accounting for £57,583. New applications finally approved amounted io £181,795. The amount paid over to local bodies was £547,295. Tha net loss for the year amounted to £6/5, us against £10,578 for the previous vear—a decrease of £9943.