ADVANCES TO SETTLERS.

Gisborne Times, Volume XXVI, Issue 2241, 13 July 1908, Page 2

ADVANCES TO SETTLERS.

INCREASE OF BUSINESS. OVER ONE MILLION LENT OUT. - [Special to “Times.”] WELLINGTON, July 11. The fourteenth annual report and h Ila nee-sheet of the Advances to Settlers Department was presented to Parliament on Friday. Tho record of business i» greatly in excess of that lor any previous year’. There were 3183 applications, amounting to £l,608,135. The advances actually granted during the year numbered 2371. for £1,197,416. This is an increase on tlie previous year’s advance# of £429,686. Up to 31st .March last the Hoard hud authorised 22,456 advances, the net advances being £6,937,950. Tho advances authorised show that (lie Wellington provincial district has been by far tho largest borrower. with a total of £2,085,678. Auckland £1,707,283, Taranaki £l,450,519, and Otago and Southland £1,351,435, come next on tlfo list. The advances authorised last year were: Auckland £321,510, Taranaki £221,930, Hawke’s Bay £24,960, Wellington £424,600, ALirlborough £53,255, Nelson £19,215, Westland £35,705, Canterbury £135,770, Otago and Southland £118.505; total £1,355,450. Tho advances outstanding amount to £4,156,020. Of tin’s sum £3,154,510 is lent on freeholds, £938.151 on freeholds and leaseholds combined. Alortgagors to the number of 11,713 are now indebted to the Department, In no case has, a. loss been mado l>v tlie Department, and fho Department at the end of tlie year had 110 securities 011 its hands. The total amount of interest collected for the year amounted to £172,060. In tlie workers’ branch, the advances authorised so far are: Auckland £71,270, Taranaki £8,570, Hawke’s ißav £17,435. Wellington £69,280, Marlborough £8,900, Nelson £4,785. Westland £1.4,580, Canterbury £71,160, Otago and Southland £30,325; total £296,305.