ADVANCES BY THE STATE

Taranaki Daily News, 26 August 1930, Page 11

ADVANCES BY THE STATE

TOTALS FOR THE YEAR. : ■LARGE SUM FOR WORKERS. Advances totalling 2332 and valued at £2,181,410, were-made under-the .settlers branch of the State Advances Office last year, according to the annual report of the superintendent of the department presented to Parliament on Friday last. The net profits for the year were £32,74l?’and the cost of was £34,897, being 2s Hd per £lOO of the capital employed. In the rural advances branch, the advances totalled 999, involving £1,481,053. The net profits were £5668, and the cost of management was £2742, or Is 7d per £lOO of the capital employed? , Under the workers’ branch, the advances authorised totalled 4239, senting £3,555,220. '■ The het profits were £9587, and the 1 cost of management was , £9324, being Is 3d per £lOO of the capital employed. ] Advances to local authorities totalled eight, representing £5590. The net profit was £648.

In the public debt arid sinking funds branch, the advances totalled. 117, involving £122,305. ' • . 1 The total number of advances auth* orised was 7095, the aggregate value bef ing £7,335,570. • 1