8.—13

2

The number and amounts actually paid over, classified according to tenure of the securities, are as follows:—■ Number. Amo £ unt - On freeholds .. .. .. .. .. .. 589 215,990 On leaseholds .. .. .. .. .. 181 79,285 On freeholds and leaseholds combined .. .. .. 9 4,080 Totals .. .. .. .. .. 779 £299,355 The gross profits for the year ended 31st March, 1919, were £67,047, and the cost of management and expenses of the branch £9,725, being 0-105 per cent., or 2s. Id. per £100 of the. capital employed. The net profits amounted to £55,765. The sinking fund established under section 26 of the State Advances Act, 1913, amounts to £844,868, inclusive of the amount held by the Publio Trustee (£302,904). Three leasehold and four freehold securities were realized by the Department during the year. Losses debited, and unpaid instalments in respect of mortgaged properties written off, amount to £1,557. G. P. C. Campbell, Superintendent. State Advanoes Offices, Wellington, 10th July, 1919. ADVANCES TO WORKERS BRANCH Twelfth Annual Report and Balanoe-sheet. The following is a statement showing the advances to workers authorized by the Board during the year, and classified according to provincial districts: — Provincial Number of District. Applications. autiiorizoa. Auckland .. .. .. .. .. 97 37,220 Taranaki .. .. .. .. ..10 2,100 Hawke's Bay .. .. .. .. .. 11 3,770 Wellington .. ... .. .. ..128 37,860 Marlborough .. .. .. .. .. 9 2,500 Nelson .. .. .. .. .. 5 1,365 Canterbury .. .. .. .. ..85 26,725 Otago .. .. .. .. .. .. 23 7,085 Southland .. .. .. .. ..4 930 Totals .. .. .. .. 372 £119,555 The total of advances to workers now current and the tenure of the securities are as follows :— Number. Amount. On freeholds .. .. ".. .. .. 9,093 2,474,766 8 3 On leaseholds .. .. .. .. 582 101,812 3 9 Totals .. .. .. .. 9,675 £2,576,578 12 0 The advances to workers actually paid over during the year ended 31st March, 1919, on freehold and leasehold are as follows :— Number. Am ° unt - On freeholds .. .. .. .. .. ..256 86,150 On leaseholds .. .. .. .. .. .. 4 1,440 Totals .. .. .. .. ..260 £87,590 The gross profits for the year ended 31st March, 1919, were £13,387, and the cost of management and expenses of the branoh £2,967, being 0T23 per cent., or 2s. sd. per £100 of the capital employed. The net profits amounted to £10,145, of which the sum of £8,000 has been applied in writing down loan charges. The sinking fund established under section 26 of the State Advances Act, 1913, amounts to £49,257, inclusive of the amount held by the Public Trustee (£2,715). Seven freehold and one leasehold securities were realized by the Department during the year. Losses debited, and unpaid instalments in respect of mortgaged properties written off, amount to £274. Gr. P. C. Campbell, Superintendent. State Advances Office, Wellington, 10th .July, 1919.