8.—13

3

.ADVANCES TO LOCAL AUTHORITIES BRANCH. The amount actually paid over to local bodies during the year was £4,795. Local bodies are now indebted to the extent of £2,109,642 in respect of principal moneys. The net loss amounted to £1,017. Next year the operations of this branch should show a profit instead of a loss. The sinking fund established under section 26 of the State Advances Act, 1913, amounts to £180,396, inclusive of the amount held by the Public Trustee (£48,461). G. F. C. Campbell, Superintendent. State Advances Office, Wellington, 10th July, 1919. PUBLIC DEBT SINKING FUNDS BRANCH. The following is a statement showing the advances under this branch authorized during the year ended 31st March, 1919, classified according to provincial districts: — Advances to Local Bodies. ... w««.u*«. c Amount of Advances Provincial Number of ,nHinrl»rl District. Applications. autnorized. Auckland .. .. .. .. .. ..36 .. 69,815 Taranaki .. .. .. .. .. ..7 8,740 Hawke's Bay .. .. .. .. .. ..1 500 Wellington .. .. .. .. .. ..10 8,780 Marlborough .. .. .. .. .. ..I 2,000 Canterbury .. .. .. .. .. .. 1 950 Otago.. .. .. .. .. .. ..2 2,500 Totals.. .. .. .. .. ..59 £93,285 ... Advances to Settlers. ... , Amount of Advances Provincial Number of authorized. Distriot. Applications. £ Hawke's Bay .. .. .. .. .. .. 2 770 Wellington .. .. .. .. .. 1 600 Canterbury . . .. .. .. .. 1 300 Totals.. .. .. .. .. ..'4 £1,670 The amount actually paid over to local bodies during the year was £99,740. Local bodies are now indebted to the extent of £651,757. and settlers £118,813 : a total of £800,570 in respect of principal moneys. The profit earned for the year amounted to £53,114, or £4 I6s. 3d. per £100 of the funds invested. The cost of management and expenses was nil. G. F. C. Campbell, Superintendent. State Advances Office, Wellington. 10th July, 1919. ADVANCES OFFICE SINKING FUND. The following is a statement showing the advances under this branch authorized during the year ended 31st March, 1919, classified according to provincial districts: — Provincial Advances to Settlers. Amount ot Advances District. Applications. authorized. Auckland .. .. .. .. .. ..50 29,455 Taranaki .. .. .. .. .. ..8 7,195 Wellington .. .. .. .. .. ..11 4,855 Marlborough .. .. .. .. .. .. 1 450 Nelson .. .. .. .. .. ..2 1,305 Canterbury .. .. .. .. .. .. 1 250 Otago.. .. .. .. .. .. ..4 2,810 Southland .. .. .. .. .. ..1 1,050 Totals.. .. .. .. .. ..78 £47,370 provincial Advances to Local Bodies. ( A tf Ad e8 District. Applications. authorized. Auckland .. .. .. .. .. ..13 20,890 Taranaki .. .. .. .. .. ..3 11,300 Hawke's Bay .. .. .. . . .. .. 1 350 Wellington .. .. .. .. .... 3 2,500 Totals .. .. .. .. ..20 £35,040 The amount actually paid over to settlers during the year was £50,735, and to local bodies £26,040: a total of £76,825. Settlers are now indebted to the extent of £446,321, and local bodies £85,437: a total of £531,758 in respect of principal moneys. The profits for the year ended 31st March, 1919, amounted to £45,682. The cost of management and expenses was nil. G. b. C. Campbell, Superintendent. State Advances Office, Wellington, 10th July, 1919.