3

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Summary of Operations as at 31st March, 1928. Applications for Revaluation. Number of applications for revaluation received .. .. .. .. .. 5,347 Number of cases dealt with and determinations issued by the Dominion Revaluation Board 5,284 Number of cases not dealt with due to forfeiture or abandonment .. .. .. 63 The above result is very satisfactory, as showing so few settlers having to drop out during practically twelve months subsequent to lodging applications. Total capital invested (comprising capital values of Crown leaseholds and advances under £ section 2, Discharged Soldiers Settlement Amendment Act, 1917) .. .. 17,238,237 Capital dealt with by Dominion Revaluation Board .. .. .. .. 12,528,835 Reduction in capital by Dominion Revaluation Board .. .. .. .. 2,678,078 Reduction in Land and Crown Mortgage Values. £ Reduction in capital value of leaseholds .. .. .. .. .. .. 1,876,366 Reduction in Crown's mortgage (under section 2) .. .. : .. .. .. 801,712 Total ... .. .. .. .. .. .. £2,678,078 Private Mortgages and Debts. Mortgages and debts of various descriptions owing by soldier settlers to persons other £ than the Crown .. .. .. .. .. .. .. .. 162,365 Reduction obtained in the above by efforts of Dominion Board .. .. .. 122,909 Percentage of reduction to original debt .. .. .. .. .. .. 75-7 percent. Private Mortgages and Debts purchased. £ Original value of mortgages and debts purchased by the Crown .. .. .. 71,761 Price paid by Crown after negotiation .. .. .. .. .. .. 33,936 Discount obtained and which is credited to settlers.. .. .. .. .. 29,560 Percentage of discount .. ... .. .. .. .. .. .. 41-2 per cent. The difference represents the amount paid by the settlers themselves to successfully complete the negotiations. Remission of Instalment Interest and Rent. £ Granted, by Dominion Revaluation Board in respect of arrears at 30th June, 1923 .. 178,335 Granted by Land Boards on recommendation of Dominion Revaluation Board with respect to payments accruing subsequent to 30th June, 1923 .. .. .. 225,423 Total remissions .. .. .. .. .. .. £403,758 Mortgage instalments, rents, &c, automatically written off, due to reduction being retrospective to Ist July, 1921, or date of title, &o. .. .. .. .. £431,273 Postponements of Arrears as at 30th June, 1923, granted by Dominion Revaluation Board. £ Rent, principal, and instalment interest for periods up to ten years . . . . ~ 320,481 Instalments to end of mortgage term .. .. .. .. .. .. 126,856 Total postponements granted by Dominion Revaluation Board .. £447,337 Postponements of payments accruing subsequent to 30th June, 1923, granted by Land Boards on recommendation of Dominion Revaluation Board .. .. .. £148,364 An extended schedule gives particulars for each land district under all headings. Investigation of Current Accounts under the Discharged Soldiers Settlement Amendment Act, 1924. Number of accounts subject to investigation (approximate) .. .. .. .. 4,909 Current Accounts sustained .. .. .. .. .. .. .. 3,995 Reductions in Current Accounts (in some of these cases transfers were also made to Suspense Account) .. .. .. .. .. .. .. .. .. 829 Transfers to Suspense Account (apart from those cases where reductions were also made) 85 4,909