8.—13,

.Statement of Profit and Loss Account for the Year ended 31st March, 1925. Dr. £ s. (1. Cr. £ s. d. To Balance— Interest Account .. .. .. 120 4 9 By Sale of land and dwellings .. .. .. 548 5 7 Management Expenses Account .. .. 3,337 3 4 Balance—Loss for the year .. .. .. 5,232 2 4 Dwellings maintenance .. .. .. 1,185 3 3 Expenses of realization of assets .. .. 1,13716 7 £5,780 7 11 £5,780 7 11 £ s. d. To Balance as at 31st March, 1924 .. .. 52,818 14 1 By Principal moneys written off—Freed from lia- £s. d. Loss for the year .. .. .. .. 5,232 2 4 bility .. .. .. .. .. 10,748 2 7 Balance .. .. .. .. 41,302 13 10 £58,050 10 5 £58,050 16 5 Statement of Interest Account for the Year ended 31st March, 1925. Dr. £ s. d. £ s. d. Or. £ s. d. £ s. d. To Interest on loans .. .. 30,830 6 2 By Interest on dwellings and land .. 32,390 9 9 Less accrued at 31st March, Less overdue and accrued at 1924 .. .. .. 4,525 2 0 31st March, 1924 .. 4,372 19 6 — 26,305 4 2 28,017 10 3 Interest on amounts temporarily transferred Interest on bank balances .. .. 13 10 0 from Settlers Branch .. .. 2, S6O 010 Interest on dwellings and land— Interest on loans accrued but not due .. 4,201 0 5 Overdue at 31st March, 1925 5,103 7 7 Accrued but not due at 31st March, 1925 .. .. 117 12 10 5,221 0 5 Balance transferred to Profit and Loss Account 120 4 9 £33,372 5 5 £33,372 5 5 , . Statement of Management Expenses Account for the Year ended 31st March, 1925. Dr. £ s. d. I Cr. ' £ s. dTo Advertising .. .. .. .. 16 16 6 By Administration expenses .. .. .. 87 13 10 Audit Office services .. .. .. 225 0 0 Transfer fees .. .. .. .. 47 10 0 Cleaning, lighting, heating, and messenger Balance transferred to Profit and Loss Account 3,337 3 4 services .. .. .. .. 30 0 0 Contingencies .. .. .. .. 10 19 2 Fees paid for special services in respect of securities .. .. .. .. 114 8 0 Labour Department services .. .. 500 0 0 [ Postages and telegrams .. . . .. 25 0 0 Post Office services .. .. .. 225 0 0 I Printing and stationery .. .. .. 250 0 0 Public Service Superannuation Fund contribution .. .. .. .. .. 39 0 0 Rates .. .. .. .. .. 9 7 3 Rent .. .. .. .. .. 100 0 0 Salaries .. .. .. .. ..1,71400 Solicitors' costs .. .. .. .. 30 4 0 Survey fees .. .. .. 57 12 3 | Valuation Department—Agency work .. 125 0 0 | £3,472 7 2 £3,472 7 2 Wm. Waddel, Superintendent. State Advances Office, Wellington, 11th June, 1925. It. 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.

LOANS TO EMPLOYERS FOR WORKERS' DWELLINGS ACCOUNT. Statement of Liabilities and Assets as at 31st March, 1925. Liabilities. £ s. d. I Assets. £ s. d. Sundry loans .. .. .. .. 3,975 0 0 ! Investment Account—Principal owing by mortInterest on loans accrued but not; due .. .. 43 12 3 gagors .. .. .. .. .. 3,287 4 8 Sinking Fund .. .. .. *. 2 (> 7 Temporary advances to Settlers Branch .. 510 0 0 i Sinking Fund investments held by Public Debt Sinking Fund Branch .. .. .. 35 14 6* i Interest on mortgages— £ s. d. Overdue .. .. .. 153 13 0 Accrued .. .. .. 4 0 3 157 13 3 j Profit and Loss Account .. .. .. 5 5 0 | Cash in hand and in bank at 31st March, 1925 .. 25 1 5 £4,020 18 10 £4,020 18 10 * This amount includes the sum of 7s. lid., capital paid into the sinking fund in accordance witli tjic Public Debt Extinction Act, 1910

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