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ADVANCES TO WORKERS BRANCH. Statement of Liabilities and Assets as at 31st March, 1936. Liabilities. £ s. d. Assets. £ s. d. Sundry loans .. .. .. .. 12,097,946 8 1 Mortgage Corporation stock issued in accordSundry creditors .. .. .. 910 17 10 ance with section 38 (1) of the Mortgage Interest on loans— £ s. d. Corporation of New Zealand Act, 1934-35 .. 9,037,380 0 0 Deferred .. .. 66,477 5 3 Contingent Liability of Mortgage Corporation Overdue .. .. 54,783 3 4 under section 38 (2) of the Mortgage Accrued .. .. 105,274 13 8 Corporation of New Zealand Act, 1934-35 .. 3,138,763 11 4 226,535 2 3 Balance of profits of Mortgage Corporation Reserve for bad debts .. .. .. 198,609 4 5 for the year ended. 31st March, 1936, payable Sinking Fund .. .. .. .. 94,402 9 3 in accordance with section 42 of the Mortgage Corporation of New Zealand Act, 1934-35 .. 62,658 18 11 Interest on Mortgage Corporation stock— £ s. d. Overdue at 31st March, 1936 134 16 6 Accrued but not due at 31et March, 1936 .. .. 48,467 11 10 48,602 8 4 Sundry debtors .. .. .. .. 1 16 9 Realization Suspense Account .. .. 5,005 12 2 Loan Charges Account .. .. .. 162,796 17 3 Cash in hand and in bank at 31st March, 1936 68,792 7 10 Sinking Fund Investments held by Advances Office Sinking Fund .. .. .. 94,402 9 3 £12,618,404 1 10 £12,618,404 1 10 Profit and Loss Account for the Year ended 31st March, 1936. Dr. £ s. d. Gr. £ s. d. Interest Account: Gross loss for the year .. 64,002 9 1 Profits from Mortgage Corporation of New Zealand Management Expenses Account .. .. 4,930 4 9 under section 42 of the Mortgage Corporation of Depreciation: Motor-vehicles .. .. 184 0 3 New Zealand Act, 1934-35 .. .. .. 95,519 9 1 Loan-flotation charges written down .. .. 22,134 2 4 Balance: Profit for the year .. .. .. 4,268 12 8 £95,519 9 1 £95,519 9 1 £ s. d. £ s. d. Bad Debts Reserve .. .. .. 4,446 4 4 Income-tax Reserve .. .. .. .. 177 11 8 Profits for the year .. .. .. .. 4,268 12 8 £4,446 4 4 £4,446 4 4 Interest Account for the Year ended 31st March, 1936. Dr. £ s. d. £ s. d. Gr. £ s. d. £ s. d. Interest on loans .. .. 439,047 17 10 Interest on mortgages .. 1,203,497 011 Less accrued at 31st March, Less overdue and accrued at 1935 .. .. .. 105,443 12 11 31st March, 1935 .. 974,875 12 3 333,604 4 11 228,621 8 8 Interest on loans overdue and accrued at 31st Interest op temporary investments .. .. 715 8 11 March, 1936 .. .. .. ... 160,057 17 0 Interest on Mortgage CorporaInterest on Railway expenditure (erection of tion stock .. .. 151,875 0 0 dwellings) .. .. .. .. 222 6 0 Overdue and accrued but not due at 31st March, 1936 .. 48,602 8 4 200,477 8 4 Interest on outstanding payments .. .. 67 12 11 Balance : Gross loss transferred to Profit and Loss Account .. .. .. .. 64,002 9 1 £493,884 7 11 £493,884 7 11

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