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The total of advances to workers now current and the tenure of the securities are as follows :— Number. Amount. £ s. d. On freeholds .. .. .. .. .. 12,632 5,134,414 010 On leaseholds .. .. .. .. .. 1,006 479,061 1 6 Totals .. .. .. .. .. 13,638 £5,613,475 2 4 The advances to workers actually paid over during the year ended 31st March, 1925, on freehold and leasehold are as follows :— Number. Amount. On freeholds .. .. .. .. .. 1,541 1,260,659 On leaseholds .. .. .. .. .. 122 85,421 Totals .. .. .. .. .. 1,663 £1,346,080 Loan-moneys amounting to £1,607,303 19s. 3d. were received during the year. Mortgages and instalments of principal repaid for the year amounted to £324,094 7s. lOd. The total amount of interest collected for the year was £211,187 7s. 4d. The loss for the year ended 31st March, 1925, was £4,666 Bs. ] Id. The cost of management and expenses'of the branch were £4,769, being 0-078 per cent., or Is. 7d. per £100 of the capital employed. The sinking fund, after redemption of loans totalling £187,000, amounts to £77,629. Wm. Waddel, Superintendent. State Advances Office, Wellington, 11th June, 1925.

ADVANCES TO LOCAL AUTHORITIES BRANCH. The following is a statement showing the advances under this branch authorized during the year ended 31st March, 1925, classified according to provincial districts : — Provincial Number of Amount of Advances District. Applications. au lze • Auckland .. .. .. .. .. .. 31 64,525 Taranaki .. .. .. .. .. ..13 13,500 Hawke's Bay .. .. .. .. 4 3,300 Wellington .. .. .. .. .. ..25 34,335 Nelson .. .. .. .. .. 1 500 Canterbury .. .. .. .. .. 5 8,435 Otago .. .. .. .. .. 1 2,000 Southland .. .. .. .. .. 2 9,900 Totals .. .. .. .. ..82 £136,495 The amount actually paid over to 139 local bodies during the year was £164,540. Loans to the number of 1,761 have been made to local bodies. They are now indebted to the extent of £2,778,759 15s. sd. in respect of principal moneys. Mortgages and instalments of principal repaid for the year amounted to £55,919 os. 4d. The total amount of interest collected for the year was £105,432 12s. sd. The net loss amounted to £9,121 Is. The sinking fund amounts to £327,741 6s. Bd. VYm. Waddel, Superintendent. State Advances Office, Wellington, 11th June, 1925.

PUBLIC DEBT SINKING FUNDS BRANCH. The following is a statement showing the advances under this branch authorized during the year ended 31st March, 1925, classified according to provincial districts : — Provincial Number of Amount of Advances District. Advances to Settlers. Applications. a " ' ° nzu ' Auckland .. .. .. .. .. ..95 76,200 Taranaki .. .. .. .. .. ..14 19,145 Hawke's Bay .. .. .. .. ..10 14,160 Wellington .. .. .. .. .. .. 45 51,660 Marlborough .. .. .. .. 2 2,050 Nelson .. .. .. .. .. 1 925 Canterbury .. .. .. .. .. ..48 52,190 Otago .. .. .. .. .. ..19 23,515 Southland .. .. .. .. .. ..11 14,655 Totals .. .. .. .. ..245 £254,500

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