8.—13.

Statement of Interest Account for the Year ended 31st March, 1925. Dr. £ s. d. j <V. £ s. d. £ s. d. To Interest on investments —Transferred to the By Interest on loans to — Sinking Fund Account .. .. .. 82,019 2 0 Settlers .. .. 52,369 9 0 Workers .. .. 3,582 2 6 Local bodies .. .. 16,509 10 8 72,461 2 2 Less overdue and accrued at 31st March, 1924 .. 23,458 14 10 49,002 7 4 Interest on bank balances .. .. .. 8 0 0 Interest on outstanding payments .. .. 3 4 10 Interest on temporary advances to Settlers Branch .. .. .. .. 8,457 19 3 Interest overdue at 31st March, 1925, on loans to — Settlers .. .. 5,616 4 2 Workers .. .. 296 3 11 Local bodies .. .. 2,245 13 6 8,158 1 7 Interest accrued at 31st March, 1925, on loans to — Settlers .. .. 12,664 11 11 Workers .. .. 833 14 2 Local bodies .. .. 3,491 2 11 16,989 9 0 £82,619 2 0 £82,619 2 0 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, documents, and securities, hereby certifies them to be in accordance therewith. —G. F. C. Campbell, Controller and Auditor-General.

STATE ADVANCES OFFICE. MISCELLANEOUS BUSINESS BRANCH. HOUSING ACCOUNT. Statement of Liabilities and Assets as at 31st March, 1925. Liabilities. Assets. Sundry loans — £ s. d. £ s. d. Investment Account: Principal Debentures .. .. 412,398 2 7 owing on— £ s. d. £ s. d. Expenditure from Public Works ' Dwellings purchased .. 602,163 13 9 Fund .. .. .. 319,918 1 7 ( Sections purchased .. 6,316 18 5 ! Advances .. .. 573 12 3 732,316 4 2 Loans on mortgage .. 1,066 15 5 Less loan-moneys written-off 16,748 2 7 —— 610,120 19 10 715,568 1 7 Completed dwellings .. .. .. 8,544 7 3 Sundry creditors .. . .. .. 35,346 8 1 Dwellings let .. .. .. .. 29,621 18 9 Suspense Account .. .. .. .. 4,944 19 0 Freehold land .. .. .. .. 54,315 1 8 Interest on loans accrued but not due .. .. 4,201 0 5 Properties acquired .. .. .. 2,944 6 0 Insurance Fund .. .. .. .. 2,090 0 0 Sinking Fund investments held by Public Debt Sinking Fund .. .. .. .. 230 15 0 Sinking Fund Branch .. .. .. 3,585 14 10* Reserve for losses on realization and bad debts .. 9,321 410 | Insurance Fund Investment held by Settlers Branch .. .. .. .. 2,090 0 0 Sundry debtors .. .. .. .. 193 9 5 Interest on d wellings and '.and — ! Overdue.. .. .. 5,103 7 7 Accrued.. .. .. 117 12 10 5,221 0 5 Rent —Overdue .. .. .. . 823 8 2 Insurance premiums—Overdue.. .. .. 426 13 9 Paid in advance .. .. 621 0 6 1,047 14 3 Realization Account .. .. .. 421 1 1 I Profit and Loss Account .. .. .. 41,302 13 10 J Cash in hand and in bank at 31st March, 1925 .. 11,470 13 5 £771,702 8 11 j £771,702 8 11 * This amount includes the sum of £3,354 19s. 10d., capital paid into the sinking fund in accordance with the Public Debt Extinction Act, 1910.

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