A MARGIN OF PROFIT

Wanganui Chronicle, Volume LXXXIII, Issue 19914, 9 August 1927, Page 7

A MARGIN OF PROFIT

BOARD’S ANNUAL REPORT. INTERESTING FIGURES. [ Special “ Chronicle ” Service. ] WELLINGTON, Aug. 7. Notwithstanding the decline in the prices of farm products, excluding wool, which has been experienced during the past year, the report upon discharged soldiers settlement states that it is considered that in most cases the values determined upon by the Revaluation Board leave a sufficient margin that will enable settlers, with economy, to overcome the temporary setback due to the deflation in prices. “Unfortunately, the report remarks, “it is evident that areas which a few years ago were considered large enough to make a living upon are now, through altered economic conditions, too small for that purpose, and in such cases the Department must grant some measure of relief until it is possible to enlarge the holdings. “During the past year the Dominion Revaluation Board dealt with 5284 applications for revaluation. The capital dealt with by the Board amounted to £12,528,835, and the reduction in capital effected was £2,584.290. The capital value of leaseholds was reduced by £1,808,812 and Crown mortgages were reduced by £775,484. Through the Board’s efforts reductions amounting to £120,702 were obtained in private mortgages and debts of various descriptions owing by soldier settlers. Remissions in instalment interest and rent were

granted to the sum of £364,317, arid ! postponements of arrears were granted > involving £453,563. “Advances from the Discharged Soldiers’ Account during the year totalled ' £137,561 in 102 loans. Of the total, £37,972 was for the erection of houses and £7222 for tho purchase of farms, etc., and the discharge of mortgages“Receipts were £1,653,684, constituting a record. Of this amount £934,* 374 represents re payments of principal • by mortgagors and capital derived from the sale of abandoned properties and sales of stock, while £719,310 represents receipts on account of interest and sundries. ‘ 1 The net result of the operations fop 1 the year is a loss of £407,689 on the revenue account, while the total loss from the inception of the Act on thu revenue account is £1,190.337.” I