B—l3

The loan [authorizations for 1950 as shown above are classified hereunder to indicate the nature and purpose of the loans—i.e., whether within or in excess of the normal two-thirds lending basis, whether for purchase or erection of dwellings, or for the refinancing of existing mortgage liabilities :

Authorizations for Year Ended 31st March, 1950, Classified Under Purpose

It will be noted that of the total number of residential loans authorized in 1950, over 43 per cent, were for the erection of new dwellings. New loan accounts opened during the year totalled 15,601, whilst 9,487 were repaid in the same period. The total number of loan accounts under all headings being administered at 31st March, 1950, is given in the following table Number of loan accounts as at 31st March, 1949 .. 1 .. 98,790 Less repaid during the year .. .. .. 9,487 89,303 Add new loan accounts opened during the year .. 15,601 Number of loan accounts as at 31st March, 1950 .. .. 104,904 representing a net increase of 6,114. The figures quoted in the table do not include the large number of housing and other agency accounts under administration by the Corporation. There are over 34,000 housing accounts alone, practically all of which are on a fortnightly payment basis, resulting in accounting operations of considerable magnitude. Some idea of the volume of transactions involved will be gained from the following statement, which shows the number of accounts and the book value of assets at the 31st March for each year since 1935 :

5

Farms. Residential. Purpose. Civilian. Rehabilitation. Civilian. Rehabilitation. Number. Amount. Number. Amount. Number. Amount. Number. Amount. Erection — Normal Special £ £ 100 216 £ 119,310 313,920 1^886 £ 2,590,187 Purchase— Normal Special 24 10 74,465 26,190 931 4,712,372 142 133 117,125 142,150 2^439 2,292j 502 Refinance— Normal Special 11 1 50,990 4,080 17 57 ° 055 52 2 46,890 3,425 30 32 j 995 Other Purposes— Normal Special 5 68,649 2,545 14 117 965 20 1 O O r-H (M "67 51*490 Supplementary (interest free) R.I.C., Part III (stock and chattels loans) Totals 17 18,825 (5) 87 1,490 86,537 (1,918) 265,270 68 245,744 1,049 4,975,419 666 788,250 4,422 5,232,444 Note. —Special loans are those granted in excess of the normal two-thirds basis.