ADVANCES TO SETTLERS DEPARTMENT.
ANNUAL REPORT
(Special to “Times. ’) . WELLINGTON, Oct. 12
The loth annual report of the Government Advances to Settlors Department, presented to the House this afternoon, states that a further record of business has been established as to the amount of business transacted. The applications numbered 4471, amounting to £2,050.250, as against 3183 applicants for loans amounting to £1.668,135 for the previous year.' Advances were actually granted’during the year to 3043 persons amounting.to £1.493,835, which exceeded those of the previous year by 672, amounting to £269,(419. The Board had up to the 31st March 1909, authorised 25,534 advances, amounting to £9,206,925. The total amount advanced and actually paid over during the year for both the Advances to Settlers and the Advances to Workers Departments was £1,792,019. i . The advances granted during the past financial year are as follows: Not exceeding £SOO, 2147, £61 1. 010; from £SOO to £IOOO, 637, £278,255; from £IOOO to £2OOO. £322,775: from £2OOO to £3OOO. £75,795. Eighty-five per cent, of the advances made during Jibe year was for loans not exceeding £SOO. 'The gross profits for the year were £74,679 and the cost- of management and expenses of the Department £9969. The net pi-ofits amounted to £63,835. Mortgagors are reported to continue to meet their payments of the interest and principal in a manner creditable to themselves and highly satisfactorily to the Department. The stringency in money is apparently not affecting their ability to meet their payments to any noticeable extent. As to advances to workers the advances actually granted during the year numbered 1116 for £298,184. Up to the 31st March the Board had authorised 2399 advances amounting to £603,809. There are now 1799 mortgagors indebted to the Department to the extent of £482,548. There is a credit- balance to carry forward of £1542 after making the necessary provision for sinking fund.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/GIST19091013.2.29
Bibliographic details
Ngā taipitopito pukapuka
Gisborne Times, Volume XXVII, Issue 2631, 13 October 1909, Page 5
Word count
Tapeke kupu
311ADVANCES TO SETTLERS DEPARTMENT. Gisborne Times, Volume XXVII, Issue 2631, 13 October 1909, Page 5
Using this item
Te whakamahi i tēnei tūemi
The Gisborne Herald Company is the copyright owner for the Gisborne Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Gisborne Herald Company. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in