B—l3

Increasing pressure of work is resulting from the gradual replacement of long-standing well-secured mortgage accounts, which present few, if any, administrative problems, by loans with a very slender margin of security which are placed on a monthly or quarterly repayment basis. The following statistics show the number of loans approved during the year. Corresponding figures for the preceding year are given in parentheses.

Statistics for Year Ended 31st March, 1950

It will be observed that although there is still a large volume of business transacted, in the form of rehabilitation business and furniture loans, lending on the security of farm and residential property continues to represent the major portion of the Corporation's business. The table following shows the operations in this respect for the year under review, together with the aggregate of such loans authorized since the establishment of the Corporation in 1935.

4

Classification. Loans Authorized. Number. 1 Amount. Farms Stock Houses Industrial Business Furniture Tools of trade Miscellaneous Totals 1,013 (1,031) 104 (49) 5,088 (5,590) 8 (7) 1,414 (1,373) 7,283 (8,039) 62 (134) 109 (45) £ £ 5,115,801 (4,567,640) 105,362 (54,118) 6,020,694 (6,642,354) 1,034,090 (418,000) 910,091 (933,151) 678,292 (746,101) 1,838 (4,848) 17,434 (7,848) 15,081 (16,268) 13,883,602 (13,374,060)

Period. Applications Received. Loans Authorized. Number. Amount. Number. 1 Amount. During year ended 31st March, 1950 — Farms and stock Residential Totals During period 1935 to 1950 — Farms Residential Totals .. .. ■ .. 1,655 6,794 | £ 6,043,255 8,555,533 1 1,117 5,088 i £ | '5,221,000 6,021,000 8,449 14,598,788 6,205 11,242,000 20,457 63,576 58,807,000 67,676,000 11,995 48,008 37,701,000 50,297,000 84,033 126,483,000 60,003 87,998,000.