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Statement of Profit and Loss Account for the Year ended 31st March, 1923. Dr. £ s. d. Cr. £ s. d. To Balance —Interest Aooount .. .. 3,119 3 4 By Balance—Loss for the year .. .. 4,423 211 Management Expenses Account .. .. 1,303 19g[7 £4,423 2 11 £4,423 2 11 £ s. d. £ s. d. To Balance as at 31st March, 1922 .. .. 76,968 3 4 By Balance .. .. .. .. 82,192 (i 3 Loan-flotation charges written down .. 801 0 0 Loss for the year.. .. .. .. 4,423 211 £82,192 6 3 £82,192 6 3 Statement of Interest Account for the Yf.ar. ended 31st March, 1923. Dr. £ s. d. £ s. (J Or. £ s. d. £ s. d. To Interest on loans .. .. 1(13.195 12 9 By Interest on debentures .. 103,045 14 2 Less accrued at 31st March, Less overdue and accrued at 1922.. .. .. 36,385 6 7 31st March. 1922 .. 30,074 19 7 66,810 ti 2 — 72,970 14 7 Interest on amounts temporarily transferred interest on bank balances .. .. II 15 0 from other branches .. .. .. 12,868 13 8 Interest on temporary investInterest on loans accrued but not due .. 36,385 Hi 7 ments ..' .. 21,979 0 9 Less accrued at 31st March, 1922 .. .. .. 9,351 3 5 12,627 17 4 Interest on temporary investments accrued but not due at 31st Maroh, 1923 . . .. 898 7 3 Interest on debentures — £ s. d. Overdue at 31st March, 1923 5,421 4 3 Accrued but not due at 31st March, 1923 .. .. 21,015 14 S 26,436 IS II Balance transferred to Profit and Loss Acoount 3,119 3 4 £116,064 16 5 £116,064 l(i 5 Statement of Management EJxpenses Account for, the Year ended 31st March, 1923. Dr. £ s. d. Or. £ s. d. To Audit Office services .. .. .. 50 0 0 By Balance transferred to Profit and Loss Account 1,303 19 7 Cleaning, lighting, and messenger services, &c. .. 25 0 0 Management charges, New Zealand stock and bonds .. .. .. .. .. 305 19 7 Post Office services .. .. . . .. 125 0 0 Postages and telegrams .. .. .. 150 0 0 Printing and stationery .. .. .. 125 0 0 Rent .. .. .. .. .. 25 0 0 Salaries .. .. .. . . . . 498 0 0 £1,303 19 7 £1,303 19 7 Wm. Waddel, Superintendent. State Advances Office, Wellington, sth June, 1923. R. Robertson, 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. G. F. C. CAMPBELL, Controller and Auditor-General.

public debt sinking pun!) branch. Statement of Liabilities and Assets as at 31st March, 1923. Liabilities. £ s. d. Assets. £ s. d, Sinking fund created under the provisions of the Investment Aooount—Principal Public Debt Extinction Act, 1910 — owing on loans to— £ s. d. £ s. d. Settlers .. .. .. 462,014 311 Total fund as at 31st March, Workers.. .. .. 67,950 4 7 1922.. .. .. 2,313,330 7 11 Local bodies .. .. 1,875,696 3 1 Prinoipal reeeived from 2,405,660 11 7 Treasury during the year 216,913 0 0 Temporary advances to Settlers Branch . . 194,000 0 0 Interest earned for the year Insuranoc Premium Aocount .. ./ 15 2 0 ended 31st Maroh, 1923 103,142 10 7 Interest overdue on loans to—- £ s. <l. 2,633,385 18 6 Settlers .. .. .. 1,726 0 10 Advances Suspense Account .. .. 17,110 0 0 Workers .. .. .. 49 9 6 Suspense Aooount .. .. .. .. 806 4 4 Local bodies .. .. 4,911 13 1. 6,687 3 5 Interest acorued on loans to— Settlers .. .. .. 4,773 9 10 Workers .. .. .. 730 13 8 Local bodies . . .. 19,058 4 5 24,562 7 11 Cash in hand and in bank at 31st Maroh, 1923. . 20,376 17 11 £2,651,302 2 10 £2,651,302 2 10

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