8.—13.

STATE ADVANCES OFFICE. ADVANCES TO SETTLERS BRANCH. Statement of Liabilities and Assets as at 31st March, 1936. Liabilities. £ s. d. Assets. £ g. d. Sundry loans • • •• .. .. 19,344,170 3 1 Investment Account: Advances not due .. 13,030 0 0 Amount held for investment on behalf of the Mortgage Corporation Stock issued in accordance Housing Insurance Fund .. .. 8,079 13 11 with section 38 (1) of the Mortgage CorpoAdvances Suspense Account .. .. 750 0 0 ration of New Zealand Act, 1934-35 .. 17 092 425 0 0 Sundry creditors .. .. .. .. 2,089 16 9 Contingent liability of Mortgage Corporation Interest on loans £ s. d. under section 38 (2) of the Mortgage CorpoDeferred .. .. 356,931 16 6 ration of New Zealand Act, 1934-35 .. 2,027,684 22 Overdue .. .. 53,654 510 Properties acquired .. .. .. 2,498 19 6 Accrued .. .. 135,150 19 5 Temporary investment .. .. .. 300'000 0 0 545,737 1 9 Interest on mortgages accrued .. .. 69 14 3 Reserve for bad debts .. .. .. 235,663 16 2 Interest on temporary investment accrued .. 1,849 6 3 Reserve Fund .. .. .. .. 25,000 0 0 Interest on Mortgage Corporation stock accrued sinking iund .. .. .. .. 2,088,114 13 5 but not due at 31st March, 1936 .. .. 91,666 18 2 Sundry debtors .. .. .. .. 1,180 8 3 Balance of profits of Mortgage Corporation for the year ended 31st March, 1936, payable in accordance with section 42 of the Mortgage Corporation of New Zealand Act, 1934-35 .. 52,868 2 0 Lodgment in Transit Account .. .. 453 9 l Realization Suspense Account .. .. 59,606 19 2 Loan Charges Account .. .. .. 232,930 8 3 Profit and Loss Account .. .. .. 110,580 17 4 Cash in hand and in bank at 31st March, 1936 174,646 7 3 Sinking Fund Investments held by Advances Office Sinking Fund .. .. .. 2,088,114 13 5 £22,249,605 5 1 £22,249,605 5 1 - Promt and Loss Account for the Year ended 31st March, 1936. r ' £ s. d. Cr £ s d Interest Account: Gross loss for the year .. 152,986 19 11 Profits from Mortgage Corporation of New Zealand ' Management Expenses Account .. .. 18,648 18 0 under section 42 of the Mortgage Corporation Depreciation on furniture .. .. .. 120 17 2 of New Zealand Act, 1934-35 .. 80 601 3 5 Depreciation on motor-vehicles .. .. 70 17 3 Profits from sale of assets .. '1213 11 Expenses on properties acquired .. .. 28 14 0 Balance : Loss for the year .. .. " 117 193 19 7 Loan flotation charges written down .. .. 25,951 10 7 £197,807 16 11 £197,807 16 11 £ s. d. £ s. d. Income-tax reserve .. .. .. .. 6 613 2 3 Loss for the year .. .. .. 117,193 19 7 Balance .. .. .. .. .. 110'580 17 4 £117,193 19 7 £117,193 19 7 Balance .. .. .. .. .. £110,580 17 4 Interest Account for the Year ended 31st March, 1936. T i £ s " £ s - Gr. £ 8. d. £ s d Interest on loans .. .. 752,635 16 9 Interest on mortgages .. 1,175 009 1 1 Less accrued at 31st March, 1935 139,369 1 8 Interest on mortgages: T , , 613,266 15 1 Accrued but not due at Interest on loans overdue and accrued .. .. 176,685 14 1 31st March, 1936 .. 69 14 3 Interest on Housing Insurance Fund .. .. 235 6 7 '' 1,175,078 15 4 Less overdue and accrued at 31st March, 1935 .. 927,304 111 247,774 13 5 Interest on Mortgage Corporation stock .. .. 286,875 0 0 Accrued but not due at 31st March, 1936 .. .. 91,666 18 2 378,541 18 2 Interest on temporary investments .. .. .. 11,151 2 6 Accrued but not due at 31st March, 1936 .. .. 733 11 3 11,884 13 9 Less accrued at 31st March, 1935 .. 1,175 7 5 10,709 6 4 Interest on current account advances .. .. 148 15 1 Interest on outstanding payments .. .. 26 2 10 Balance : Gross loss transferred to Profit and Loss Account., ~ ~ .. .. 152,986 19 11 £790,187 15 9 £790,187 15 9

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