8.—13 a
ADDENDUM TO CHAIRMAN'S REPORT. In the attached report particulars have been supplied as to the number of applications and the amount applied for up to the 31st March, 1936. In view of the fact that the members of the Board of Management shall be deemed to have vacated their offices on the Ist July, 1936, I think it desirable to give a short statement of the business dealt with by the Board up to the 30th instant. The following classified statement shows the numbers of applications and the amount applied for from September, 1935, to the 30th June, 1936. Total loans applied for: — Number. Amount. Residential — £ £ Refinancing .. .. .. 1,823 1,571,435 New dwellings .. .. .. 715 532,145 Other purposes .. .. .. 435 244,915 2,973 2,348,495 Farm— Refinancing .. .. ..2,205 5,189,250 Other purposes .. .. .. 481 609,200 2,686 5,798,450 Total applications received .. 5,659 £8,146,945 The following summary sets out the manner in which the above applications have been disposed of. (A) Loans authorized by the Board of Management:— Number. Amount. Residential — £ £ Erection of dwellings .. .. .. 580 357,025 Refinancing .. .. .. ..1,087 778,330 Farm — Refinancing .. .. .. .. 1,226 2,782,000 3,917,355 Total authorizations.. .. .. 2,893 (B) Applications declined by the Board :— Residential.. .. .. .. .. 279 169,605 Farms .. .. .. .. .. 398 838,705 — 1,008,310 Total declined .. .. .. .. 677 (C) Applications declined as unsuitable —principally on account of inadequate security. (As explained in my report above, a large number of applications are received by the Corporation which are obviously unsuitable, and in these cases the expense of a detailed report and valuation is avoided, applicants being notified that the securities offered are not considered suitable): — Residential.. .. .. .. .. 695 675,965 Farms .. .. .. .. .. 870 1,549,589 2,225,554 1,565 (D) Applications in course of investigation as at 30th June, 1936, which will require to be dealt with by the new Board (approximately) .. .. .. .. .. .. 995 s 726 Total .. .. .. .. .. .. £8,146,945
10