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Statement of Interest Account for the Year ended 31st March, 1925. Dr. £ s. d. £ s. d. C'r. £ s. d. £ s. d. To Interest on loans .. .. 462,962 13 1 By Interest on mortgages .. 460,477 5 9 Less accrued at 31st March, Less overdue and accrued at 1924 .. .. .. 104,243 17 4 31st March, 1924 .. 151,929 7 7 358,718 15 9 308,547 18 2 Interest on loans accrued but not due .. 121,281 8 3 Interest on outstanding payments .. .. 23 15 4 Interest on amounts temporarily transferred Interest on bank balances .. .. .. 888 7 0 from other branches .. .. .. 20,315 14 10 Interest on temporary advances to other Balance —Gross profits transferred to Profit branches .. .. .. .. 52,845 1 6 and Loss Account .. .. .. 66,694 0 4 Interest on temporary investments accrued at 31st March, 1925 .. .. .. 6,719 3 5 Interest on mortgages— Overdue at 31st March, 1925 61,176 1 5 Accrued but not due at 31st March, 1925 .. ..136,809 12 4 197,985 13 9 £567,009 19 2 £567,009 19 2 Statement of Management Expenses Account for the Year ended 31st March, 1925. Dr. £ s. d. C'r. £ s, d. To Advertising, newspapers, &c. .. .. 20 0 4 By Consent fees .. .. .. .. 38 18 0 Audit Office services .... .. .. 300 0 0 Production fees .. . . .. .. 701 7 10 Cleaning, lighting, heating, and messenger Release fees .. .. .. .. 342 12 0 services .. .. .. .. 359 2 4 Sundry fees .. .. .. .. 1 8 10 Fees paid for special services in respect of Balance transferred to Profit and Loss Account 27,151 8 3 securities .. .. .. .. 356 9 2 Management charges on New Zealand stock and bonds .. .. .. .. 1,539 9 0 Meal allowances and overtime .. .. 263 12 9 Office maintenance .. .. .. 701 3 0 Postages and telegrams .. .. .. 534 6 5 Post Office services .. .. .. 1,205 19 2 Printing and stationery .. .. .. 297 4 5 Public Service Superannuation Fund contribution .. .. .. .. 481 8 3 Kent .. .. .. .. .. 2,784 3 9 Salaries .. .. .. .. 18,224 14 3 Solicitors' costs and Court costs .. .. 18 6 0 Telephones .. .. ■. •. 90 11 7 Travelling-expenses .. .. .. 325 15 5 Typewriters and adding-maehines—Repairs .. 83 9 1 Valuation Department—Agency work .. 650 0 0 £28,235 14 11 £28,235 14 11 Wm. Waddel, Superintendent. State Advances Office, Wellington, 11th June, 1925. R. Robertson, Accountant. The Audit Office, having examined the balance-sheet and accompanying accounts and compared them with the relative books and documents and securities, hereby certifies them to be in accordance therewith. —O. F. C. Campbell, Controller and Auditor-General. STATE ADVANCES OFFICE. ADVANCES TO WORKERS BRANCH. Statement of Liabilities and Assets as at 31st March, 1925. Liabilities. £ s. d. Assets. £ s. d. Sundry loans .. .. •• 5,391,691 17 1 Investment Account—Principal owing by mortTemporary advances from Settlers Branch .. 655,000 0 0 gagors .. .. .. .. 5,613,475 2 4 Interest on loans accrued but not due .. 53,165 16 2 Sinking Fund investments held Advances Suspense Account .. .. 67,475 0 0 by— Fire Loss Suspense Account .. .. 1,525 10 0 Advances Office Sinking Fund £ s. d. Suspense Account .. .. 87 17 4 Account .. .. 67,116 16 4 Sundry creditors .. .. •• 258 2 8 Public Debt Sinking Fund Sinking Fund .. .. .. .. 56,537 12 7 Branch .. .. 10,512 4 2 -— 77,629 0 6* Temporary investments .. .. .. 147,500 0 0 Interest on mortgages — Overdue .. .. 19,219 7 3 Accrued .. .. 60,617 3 9 79,836 11 0 Interest on temporary investments accrued .. 8,085 13 3 Sundry debtors .. .. .. .. 462 13 1 Loan Charges Account .. .. .. 181,596 17 3 Profit and Loss Account .. .. .. 6,507 0 9 Cash in hand and in bank at 31st March, 1925 110,648 17 8 £6,225,741 15 10 ' £6,225,741 15 10 • This amount includes the sum of £21,091 7s. lid. capital paid into the sinking fund under the provisions ol the State Advances Act.

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