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RURAL ADVANCES BRANCH. Statement of Liabilities and Assets as at 31st March, 1936. Liabilities. £ s. d. £ s. d. Bonds issued .. .. .. .. 4,213,050 0 0 Investment Account: Advances not due .. 5,000 0 0 Interest on loans — £ s. d. Mortgage Corporation stock issued in accordance Overdue .. .. 39,068 5 3 with section 38 (1) of the Mortgage CorporaAccrued .. .. .. 9,234 I 8 tion of New Zealand Act, 1934-35 .. .. 3,810,195 0 0 48,302 6 11 Contingent Liability of Mortgage Corporation Reserve for bad debts .. .. .. 38,791 11 3 under section 38 (2) of Mortgage Corporation of New Zealand Act, 1934-35 .. .. 254,663 3 1 Interest on Mortgage Corporation stock accrued but not due at 31st March, 1936 .. .. 20,434 2 6 Interest on mortgages accrued .. .. 19 3 7 Interest tax due in accordance with sections 6 and 7of the Finance Act, 1932-33 .. . . 4,481 5 0 Realization Suspense Account .. .. 3,572 1 1 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 .. 4,066 16 0 Loan Charges Account .. .. 139,316 10 7 Profit and Loss Account .. .. .. 20,554 17 9 Cash in hand and at bank at 31st March, 1936 .. 37,840 18 7 £4,300,143 18 2 £4,300,143 18 2 Profit and Loss Account for the Year ended 31st March, 1936. Dr. £ S. d. Gr. £ 8 . d. Interest Account : Gross loss for year .. .. 12,668 13 10 Profits from Mortgage Corporation of New Zealand Loan-flotation charges written down .. .. 12,665 2 8 under section 42 of the Mortgage Corporation of Management Expenses Account .. .. 4,559 6 6 New Zealand Act, 1934-35 .. .. .. 6,199 15 9 Recovery of loss on realization .. .. .. 2 19 4 £29,893 3 0 Balance : Net loss for year .. .. .. 23,690 7 11 £ s. d. £29,893 3 0 Loss for the year .. .. .. .. 23,690 7 11 £ s. d. Income-tax reserve .. .. .. .. 3,135 10 2 Balance .. .. .. .. .. 20,554 17 9 £23,690 7 11 £23,690 7 11 Interest Account for the Year ended 31st March, 1936. Dr. £ s. d. £ S. d. Gr. £ s. d. £ s. d. Interest on bonds .. .. 131,215 4 9 Interest on mortgages .. .. 400,684 18 10 Less accrued at 31st March, 1935.. 7,513 4 0 Accrued at 31st March, 1936 .. 19 3 7 123,702 0 9 - Interest on bonds— 400 704 2 5 Overdue .. .. .. 39,068 5 3 Less overdue and accrued at 31st Accrued .. .. .. 9,234 1 8 March, 1935 .. .. 326,022 12 3 48,302 6 11 74,681 10 2 Interest on Mortgage Corporation stock.. .. 64,125 0 0 Interest on Mortgage Corporation stock accrued but not due at 31st March, 1936 .. .. 20,434 2 6 Interest on temporary investment .. .. 80 2 9 Interest on outstanding payments .. .. 14 18 5 Balance : Gross loss transferred to Profit and Loss Account .. .. .. .. .. 12,668 13 10 £172,004 7 8 £172,004 7 8

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