C—9

5

Adjustments by Dominion Revaluation Board in Terms of the Discharged Soldiers Settlement Amendment Act, 1924, as at 31st March, 1930.

FINANCIAL REVIEW. Discharged Soldiers Settlement Account. Loan Capital. —The loan capital of the account has been reduced during the year on account of the redemption of debentures totalling £425,770, and now stands at £15,680,995 16s. Bd. Advances authorized. — The policy of confining new loans for the purchase of individual farms and dwellings to severely disabled discharged soldiers has been continued, but applications for loans by discharged soldiers in need of financial accommodation on current account for the purposes of development and stocking their farms are still being entertained. The following table sets out the extent of loans authorized for the year : —

The total authorizations show an increase over last year's figures to the extent of £73,813, which is almost totally comprised of additional loans on current account made to settlers who are continuing the development of their farms and increasing the stocking capacity. Current Account Advances. —The advances outstanding on current account (£1,965,055 7s. lOd.) are less than those of last year by £285,496 6s. lid. Although a certain number of loans have been repaid during the year, the bulk of the reduction has been brought about as a result of the conversion of suitable proportions of expiring loans to the security of instalment mortgages, repayable on longterm tables. This procedure, which will be continued, tends to consolidate securities, and should reflect to the benefit of both the settlers and the State. The following comparative statement shows receipts on Capital and Revenue Accounts for the last five years : — 1925-26. 1926-27. 1927-28. 1928-29. 1929-30. £ £ £ £ £ Capital .. 954,441 945,293 1,067,392 1,205,892 1,054,123 Revenue .. 686,546 708,391 755,586 757,761 727,703 Total 1,640,987 1,653,684 1,822,918 1,963,653 1,781,826 Properties disposed of. —The following abandoned freehold and leasehold properties were disposed of during the year: Number, 161 ; area, 46,158 acres; value, £180,711. Properties on Hand aivaiting Selection at the End of the Year. —Farms, on which advances to purchase under section 2 of the Discharged Soldiers Settlement Amendment Act, 1917, had been made, available for disposal at 31st March, 1930 : Number, 90 ; area, 56,709 acres ; value, £85,944. Leasehold farms, previously held by discharged soldiers, available for disposal at 31st March, 1930 : Number, 100 ; area, 56,116 acres ; value, £80,066.

Adjustments in Current Account. [ Districts. T tieS al K ™ n90 ' Original Value. I deduced by North Auckland .. .. 500,072 0 0 46,073 9 8 2,570 0 6 14,210 6 0 2,173 2 2 Auckland .. .. .. 802,751 6 1 43,296 1 0 13,830 0 0 16,959 0 0 1,406 17 I Gisborne .. .. 116,010 0 0 850 0 0 .. 7,114 0 0 114 0 9 Hawke'sBay .. .. .. 184,383 1 4 6,008 7 11 380 0 0 9,990 0 0 1,507 11 2 Taranaki .. .. .. 297,530 12 9 25,936 2 5 850 0 0 5,030 0 0 1,941 10 2 Wellington .. .. .. 633,405 0 0 49,302 0 0 2,040 0 0 17,375 0 0 8,130 0 0 Marlborough .. .. .. 58,280 0 0 2,269 15 1 200 0 0 400 0 0 114 .16 1 Nelson .. .. .. 106,184 13 3 3,148 18 1 762 0 0 4,610 0 0 Westland .. .. .. 34,176 9 8 1,735 0 0 Canterbury .. .. .. ! 250,967 8 6 4,462 6 2 2,035 0 0 38,712 8 10 1,931 5 10 Otago .. .. .. 127,808 8 2 3,509 10 90 0 0 11,080 2 1 828 0 7 Southland .. .. .. 11.1,080 8 10 2,783 16 10 .. 6,080 0 0 689 0 7 Totals .. .. 3,222,649 8 7 189,374 18 2 22,757 0 0 131,560 10 11 18,836 4 5

New Loans. Additional Loans. Number. ! Amount. Number. I Amount. . I Discharged Soldiers Settlement Act, 1915, section 6 — £ £ Advances on current account .. .. 45 21,234 64-2 121,571 Discharged Soldiers Settlement Amendment Act, 1917, section 2 —Advances on farms, &c. .. .. 8 7,097 19 10,970 Advances on dwellings .. .. .. .. 26 17,508 136 25,979 79 | 45,839 797 j 158,520