R—l3

6

Statement of Intkhkst Account for the Yfau ended 31st March, 192:!. Dr. £ s. d. £ s. d. Cr. £ s. d. £ s. d. To Interest on loans .. .. 346,79!) 14 0 By Interest on mortgages .. 312,861 16 8 Bess accrued at 31st March, Less overdue and accrued at 1922 .. .. 75,494 7 0 31st March, 1922 .. .. 114,289 19 5 271,305 7 0 198,571 17 3 Interest on loans accrued but not due .. 75,058 i) 3 [ Interest on outstanding payments .. .. 6 13 7 Interest on amounts temporarily transferred Interest on bank balances .. .. .. 113 2 6 from other branches .. .. .. 14,881 2 11 Interest on temporary advances to other Balance 0 loss profits transferred to Profit branches .. .. .. .. 32,669 4 1 and Loss Account .. .. .. 51,579 5 9 Interest on temporary investments. . .. . . 64,874 .3 5 Less accrued at 31 si March, 1922 .. .. .. 19,368 2 5 45,506 1 0 Interest on temporary investments accrued at :;isl March, 1923 ' .. .. . . 18,413 S 3 Interest on mortgages — Overdue at 31st March, 1923 40,737 12 li Accrued but not due at 31st March, 1923 .. .. 76,803 5 9 117,540 18 3 £412,821 4 11 j £412,821 4 11 Statement of Management Expenses Account foe the Yeah ended 31st March, 1923. Dr. £ s. (i. | Cr. £ s. d. To Advertising, newspapers, &c. .. .. 14 13 0J By Consent fees .. .. .. .. 19 2 6 Audit Office services .. .. .. 300 0 0 Cost of preparation of mortgages .. .. 10 18 (i Cleaning, lighting, heating, and messenger Production lees .. .. .. .. 507 9 6 services .. .. .. .. 592 I 10 Release fees .. .. .. .. 238 15 2 Contingencies .. .. .. .. 18 18 3 Balance transferred to Profit and Loss Aooount I9,ss(i 9 o Fees paid for special services in respect of securities . . . . . . . . 78 18 9 .Management charges on New Zealand stuck ami bonds .. .. .. .. 1,644 8 7 Meal allowances when working overtime .. 200 12 (i Postages and telegrams .. •• •• 1,188 3 0 i Post Office services .. .. .. 1.201 S ] Printing and stationery .. •■ .. 711 18 3 Rent .. .. .. .. •. 590 0 0 Salaries .. .. .. .. .. 12,865 1 10 Solicitors' costs and Court costs .. . . 7 13 5 Telephones .. .. .. .. 32 12 10 Travelling-expenses .. .. .. 504 17 5 Typewriters and addiiig-niacliincs -Repairs .. fil 6 11 Valuation Department —Agency work .. 650 o o 120,662 .14 8 £20,662 14 8 Wm. Waddel, Superintendent. State Advances Office, Wellington, sth June, 1923. 11. Robeetson, Accountant. The Audit Office having examined the balance-sheet and accompanying accounts and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith. (1. P. ('. Campbell, Controller and Auditor-General.

ADVANCES TO WORKEES BRANCH. Statement of Liabilities and Assets as at 31st March, 1923. Liabilities. £ s. d. Assets. I s, d. Sundry loans .. .. .. .. 2,407,346 11 1 Investment Aooount —Principal owing by mortTemporary advances from Settlers Branch 845,000 0 0 gagors .. .. .. .. .. 3,253,025 19 I Interest oil loans accrued but not due .. 25,074 17 5 Sinking Fund investments held by— Advances Suspense Account .. .. 42,805 10 6 Advances Office Sinking Fund £ s. d. Susponse Account .. .. .. .. 368 12 0 Account .. .. 61,487 19 2 Income-tax Suspense Account .. .. 5,107 7 8 Public! Debt Sinking Fund Sundry creditors .. •■ •• •• 326 4 9 Branch .. .. 6,464 14 7 Sinking Fund .. .. •■ ■■ 49,727 18 0 *67,952 13 9 Reserve; Fund ■• •• •• •• 8,754 18 6 Interest on mortgages— Overdue .. .. 11,768 13 5 Accrued .. .. 35,975 9 8 47,744 3 I Insurance Premium Aooount .. .. 12s 12 o Sundry debtors .. .. .. .. 513 1 Loan Charges Account .. .. .. 10,999 .17 0 Realization Acoouni .. .. .. ti2 3 9 Cash in hand and in bank at 31st March, 1923.. 1,592 18 2 £3,384,511 19 11 63,384,511 19 11

* This amount includes the sum of £18,224 15s. ltd. capital paid into the sinking funds under the provisions of the State Advances Act.