8.—13 a

6

21. Area reclaimed from swamps, and drained in other respects, and the drainage yet expedient: 22. Area ploughed or cultivated : 23. Area now or lately in crop; and what are the crops, their appearance, and the yield : 24. The crops of the preceding three years, their description, number, and rotation : 25. Area in English grass, how long so, and whether with satisfactory result; and the present appearance of the grass : 26. The length, extent, condition, description, and value of the fencing ; and the number of paddocks: 27. The other improvements, and whether the appearance of the property indicates care and capable management: If a Leasehold Security. 28. Whether the rent is higher or lower than the rent generally brought by land in vicinity of same nature, quality, and value, and leased on same conditions, and the rental at which the land could, if in the same state in which it was at the commencement of the existing lease, be now leased on similar terms and conditions : 29. How the rent compares with the estimated present market rental: Estimate of Value. 30. The total present capital value of — The land without the improvements : The value of the buildings : The value of other improvements : The total present realisable capital value of the whole property :_ The present realisable value of the applicant's estate or interest in such property : 31. The total amount of all rates and taxes chargeable against the applicant's estate or interest .in the property : 32. Whether the applicant's estate or interest in the property is regarded as a satisfactory security for an advance ; and, if so, for what amount : 33. Whether the value of such estate or interest may be expocted to increase or diminish: 34. The purpose of the advance, and whether, if for expenditure on the land, the expenditure may be expected to economically effect a reproductive and judicious improvement of the land or development of its resources : 35. What may be known respecting the character and circumstances of the applicant: Note. Any remarks which would extend beyond the space allotted in this form should be written on additional paper. I attach a sketch of the property. I am, &c, An abstract of the reports on the security is supplied to each member of the General Board, in the following form, in a list accompanying the notice calling the meeting of the Board for the consideration of the applications for advances : — Business for Consideration, The following applications for advances : — Mr. , for £500 on class of land No. 3 (lease in perpetuity), 250 acres 2 roods, Survey District , Section , Block . Valued by Mr. : Land, £1,485; buildings, £220 ; other improvements, £470 : total, £2,175. Applicant's interest, £692. By (Chief Valuer). Good for £300. The application itself, giving the applicant's own statement of the particulars of the property, and of the purposes of the desired loan, is submitted to the Board with the report of the valuer, the remarks of the Eeviewing Valuer, a copy of the land-tax assessment, and the report of the Commissioner of Crown Lands. Sometimes the applicant's own description of the property and statement of the value have shown the security to be insufficient for the amount of the application. Sometimes the report of the Commissioner of Crown Lands respecting a leasehold security discloses large arrears of rent, or that the conditions of the lease have not been complied with, that the penalty of forfeiture has been incurred, or is impending. In every such case a proper consideration for the applicant requires that what would in all probability be the idle expense of valuation should be avoided, in order that the fee may be saved and repaid. As soon as possible after the regulation was made and took effect which authorises the repayment of the fees received for, but not expended in, valuation, every applicant to whom the Board had resolved, without a special valuation of the security having been ordered for the purpose of the application, that the required advance should not be granted, but whose property might form a sufficient security for an advance of a smaller amount, was furnished with an explanation to the foregoing effect, and informed that the fee would, as the applicant might desire, either be repaid or be expended in the special valuation of the property for the purpose of a consideration by the Board whether an advance of any amount could be authorised. A notice to the same effect has, of course, been sent to the applicant in the case of every subsequent resolution by the Board to decline to grant an advance on a security which has not been valued, but which, though regarded as insufficient for the amount for which the application is made, may be expected to prove a satisfactory security for a smaller amount. The following are the forms of letters, in one or the other of which, as the case may require, the resolution of the Board is now conveyed to the applicant:—