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Statement of Interest Account for the Year ended 31 st March, 1925.* Dr. £ s. d. £ s. d. Cr. £ s. d. £ s. d. To Interest on loans .. .. 2,982 3 1 By Interest on mortgages.. .. 2,243 11 10 Less accrued at 31st March, Less overdue and accrued at 1924 .. .. .. 1,403 10 9 31st March, 1924 .. .. 1,746 17 3 1,578 12 4 496 14 7 Interest on loans accrued but not due .. 1,387 2 11 Interest on bank balances .. .. .. 4 9 9 Balance—Gross profits transferred to Profit and Interest on temporary advances to Settlers Loss Account .. .. .. 67 0 8 Branch .. .. .. .. .. 319 13 5 Interest on mortgages— Overdue at 31st March, 1925.. 1,782 19 5 Accrued but not due at 31st March, 1925 .. .. 428 18 9 2,211 18 2 £3,032 15 11 £3,032 15 11 Statement of Management Expenses Account for the Year ended 31st March, 1925. Dr. £ s. d. I Or. £ s. d. To Administration expenses .. .. 80 16 9 By Balance transferred to Profit and Loss Account .. 86 16 9 £86 16 9 £86 10 9 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.

COLD-STORAGE ADVANCES ACCOUNT. Statement of Liabilities and Assets as at 31st March, 1925. Liabilities. £ s. d. £ s. d. Assets. £ s. d. Sundry loans .. .. .. 82,750 0 0 Investment Aceount —Principal owing by mortLess loan-moneys written off .. 7,500 0 0 gagors .. .. .. .. .. 43,742 12 5 —-— 75,250 0 0 Temporary advances to Settlers Branch .. 28,090 0 0 Interest on loans accrued but not due .. .. 269 5 7 Sinking Fund investments held by Public Debt Sinking Fund .. .. .. .. 75 15 8 Sinking Fund Branch .. .. .. 1,001 18 4* Interest on mortgages— £ s, d. Overdue .. . . .. 757 14 1 Accrued .. .. .. 736 13 11 1,494 8 0 Profit and Loss Account .. .. .. 1,212 17 4 Cash in hand and in bank at 31st March, 1925 .. 53 5 2 £75,595 1 3 £75,595 1 3 * This amount includes the sum ol £926 2s. Bd. capital paid into the sinking fund in accordance with the Public Debt Extinction Act, 1910. Statement of Profit and Loss Account for the Year ended 31st March, 1925. Dr. ' £ s. d. Cr. £ s. d. To Management Expenses"Account .. .. 115 0 0 By Interest Account—Gross profits .. .. 321 10 8 Balance —Net profits for the year .. .. 206 10 8 £321 10 8 £321 10 8 £ s. d. £ s. d. To Balance as at 31st March, 1924 .. .. 8,919 8 0 By Net profits for the year .. .. .. 206 10 8 Principal moneys written off —Freed from liability .. .. .. .. .. 7,s<fc 0 0 Balance .. .. .. .. .. 1,212 17 4 £8,919 8 0 £3,919 8 0

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