8.—13.

The amounts of the advances actually paid over to settlers during the year ended 31st March, 1925, are as follows : — ti T , Amount. JN umber. £ Not exceeding £500 .. .. .. .. 436 157,080 Exceeding £500 but not exceeding £1,000 .. .. 768 583,815 Exceeding £1,000 but not exceeding £2,000.. .. 636 973,695 Exceeding £2,000 but not exceeding £3,500.. .. 528 1,527,360 Totals .. .. .. .. 2,368 £3,241,950 The number and amounts actually paid over, classified according to tenure of the securities, are as follows : — \t i Amount. JN umber. On freeholds .. .. *.. .. .. 1,912 2,651,185 On leaseholds .. .. .. .. .. 396 497,135 On freeholds and leaseholds combined .. .. 60 93,630 Totals .. .. .. .. 2,368 £3,241,950 The gross profits for the year ended 31st March, 1925, were £66,694, and the cost of management and expenses of the branch £27,151, being 0-187 per cent., or 3s. Bd. per £100 of the capital employed. £ s. d. The net profits for the year amounted to .. .. .. .. 28,155 3 3 The following are the appropriations from the profits for the year : — £ s . d. Amount paid to the Public Debt Sinking Fund Branch .. 3,798 18 2 Income-tax .. .. .. .. .. .. 4,757 611 Loan-flotation charges written down .. .. .. 5,714 6 7 — 14,270 11 8 Leaving a balance of .. .. .. .. £13,884 11 7 which has been transferred to sinking fund. Loan-moneys amounting to £2,728,354 18s. Id. were received during the year. Mortgages and instalments of principal repaid for the year amounted to £727,142 10s. 9d. The total amount of interest collected for the year was £514,234 9s. 7d. The sinking fund, after redemption of loans totalling £46,700, amounts to £1,578,000. Eight leasehold and eleven freehold securities were realized by the Department during the year. Losses debited, and unpaid instalments in respect of mortgaged properties provided for, amount to £7,832. For the year ended 31st March, 1925, 59 advances, amounting to £13,935, were authorized on chattel securities. The amount actually paid over during the year to 55 borrowers was £16,645. With regard to the redemption of mortgages, the advances authorized for the year ended 31st March, 1925, numbered 2,557, and amounted to £3,761,090. The amount actually paid over during the year to 1,807 borrowers was £2,713,255. Wm. Waddel, Superintendent. State Advances Office, Wellington, 11th June, 1925.

ADVANCES TO WORKERS BRANCH. Eighteenth Annual Report and Balance-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 Amount of Advances District. Applications. authorized. Auckland .. .. .. .. .. 812 614,985 Taranaki .. .. .. .. .. 47 35,300 Hawke's Bay .. .. .. .. 82 60,180 Wellington .. .. .. .. .. 351 258,470 Marlborough .. .. .. .. .. 16 11,270 Nelson .. .. .. .. .. 11 8,145 Westland .. .. .. .. .. 17 10,170 Canterbury .. .. .. .. .. 361 252,085 Otago .. .. .. .. .. 98 61,505 Southland .. .. .. .. .. 76 49,560 Totals .. .. .. .. 1,871 £1,361,670

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