5

8.—13

MISCELLANEOUS BUSINESS BRANCH. Fishing Industry Promotion Account. Pursuant to legislation passed last year, a statement of the accounts relating to advances under the Fishing Industry Promotion Act, 1919, as at 31st October, 1922, was received from the Marine Department, and the accounts have been incorporated in the books of the Advances Office. A statement of the account as at 31st March, 1923, is attached. Housing Account; Fruit-preserving Industry Advances Account; (-'old Storage Advances Account. With respect to the above classes of business, the necessary certificates'showing the position of the respective accounts as at the date of the passing of the State Advances Amendment Act of last year namely, the 31st October, 1922— have not yet been supplied ; consequently the Department is unable to include in the present balance-sheet statements of the separate accounts. Wm. Waddel, Superintendent. State Advances Office, Wellington, sth June, 1923.

STATE ADVANCES OFFICE. ADVANCES TO SETTLERS BRANCH. Statement of Liabilities and Assets as at 31st March, 1923. Liabilities. t s. d. Assets. £ s. d. Sundry loans .. .. .. .. 9,238,195 15 10 Investment Account —Principal owing by mortTemporary advances from Advances Office gagors .. .. .. .. .. 6,990,292 5 10 Sinking Fund Account .. .. .. 445,500 0 0 Temporary investments .. .. .. 1,160,000 0 <• Temporary advanoes from Public Debt Sinking Temporary advances to Workers Branch .. 845,000 0 0 Pond Branch .. .. .. .. 194,000 0 0 Temporary advanoes to Local Authorities Branch 145,500 0 0 Advances Suspense Account .. .. 17,950 0 0 Sinking Fund investments Fire Loss .Suspense Account. . .. .. 1,779 10 5 held by— Susponse Account .. .. .. .. 3,312 511 Advances Office Sinking £ s. d. Income-tax Suspense Account .. .. 16,033 16 4 Fund Account .. 1,387,119 6 8 Sundry creditors .. .. .. .. 2,252 19 8 Public Debt Sinking Fund Interest on loans accrued but not due .. 75,055 i) 3 Branch .. .. 16,058 3 6 Sinking Fund .. .. .. .. 962,812 8 3 *1,403,177 10 2 Reserve Fund .. .. .. 25,000 0 0 Interest on mortgages — Overdue .. .. 40,737 12 6 Accrued .. .. 76,803 5 9 117,540 IS 3 Interest on temporary investments accrued .. 18,413 8 3 Office Furniture and Equipment Account .. 2,212 12 11 Insurance Premium Account .. .. 479 (i 2 Sundry debtors .. .. .. .. 210 0 Realization Account .. .. .. 2,451 7 3 (.'ash in hand and in bank at 31st March, 1923 296,803 16 10 £10,981,892 5 8 £10,981,892 5 8 • This amount includes the sum of £440,365 Is. ltd. capital paid into the sinking funds under the provisions of the State Advances Act. Statement of Profit and Loss Account fob the Yuar ended - 31st March, 1923. Dr. £ s. d. Or. £ s. d. To Management Expenses Account .. .. 19,886 9 0 By Interest Account—Gross profits .. .. 51,579 5 9 Losses on realization of securities and doubtful securities written down .. .. .. 2,321 2 1 Office Furniture and Equipment Account written down .. .. .. .. 116 9 0 Balance —Net protits for the year .. .. 29,255 5 8 £51,579 5 9 £51,579 5 9 £ s. d. £ s. d. To Loan-flotation charges written down .. 214 0 By Net profits for the year .. .. .. 29,255 5 8 Sinking fund invested in Public Debt Branoh 2,860 13 2 Income-tax .. •• •• •■ 1,500 0 0 Balance —Net profits invested in Advances Office Sinking Fund Account .. .. 24,89118 6 £29,255 5 8 £29,256 5 8