GOVERNMENT ADVANCES TO SETTLERS OFFICE (REPORT BY THE SUPERINTENDENT OF THE) FOR THE YEAR ENDING 31st MARCH, 1909.

Appendix to the Journals of the House of Representatives, 1909 Session II, B-13

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1909.

NEW ZEALAND.

GOVERNMENT ADVANCES TO SETTLERS OFFICE (REPORT BY THE SUPERINTENDENT OF THE) FOR THE YEAR ENDING 31st MARCH, 1909.

['resented to bot/i Houses of the General Assembly by Command of His Excellency.

FIFTEENTH ANNUAL REPORT AND BALANCE-SHEET. A further record has been established this year in the amount of business transacted, the applications numbering 4,471, amounting to £2,050,252, as against 3,183 applications, amounting to £1,668,135, for the previous year —an increase of 1,288 applications for £382,117. The advances actually granted during the year numbered 3,043, amounting to £1,493,835 125., which exceeds those of the previous year by 672, amounting to £296,419 2s. lid. The Board had up to the 31st March, 1909, authorised 25,534 advances, amounting to £9,206,925. Applicants to the number of 2,794 declined the grants offered them, amounting to £1,139,810, so that the net advances authorised to the 31st March, 1909, numbered 22,740, and amounted to £8,067,115. The total amount of advances actually paid over during the year for both the Advances to Settlers and Advances to Workers Departments was £1,792,019 18s. sterling. Classified according to provincial districts, the total advances authorised to date are : — Provincial Number of Amount of Advances District. Applications. authorised. Auckland .. .. .. 6,435 2,011,663 Taranaki .. .. .. .. .. 3,649 1,636,409 Hawke's Bay .. .. .. .. .. 1,236 367,135 Wellington .. .. .. .. .. 6,567 2,475,478 Marlborough .. .. .. .. .. 781 321,305 Nelson .. .. .. .. .. .. 348 110,620 Westland .. .. .. .. . . 534 127,530 Canterbury .. .. .. .. .. 2,191 716,000 Otago .. ~ .. .. .. .. 1,690 673,455 , Southland .. .. 2,103 767,330 Total .. .. .. .. 25,534 £9,206,925 Classified according to provincial districts, the advances authorised during the year ended 31st March, 1909, are :— ■ • i Number of Amount of Advances rtovmcial Applications. authorised. District. * 1 £ Auckland 953 304,380 Taranaki .. .. 348 185,860 Hawke's Bay 123 46,860 Wellington 908 389,800 Marlborough .. .. .. .. .. 105 41,445 Nelson .. .. .. .. .. .. 64 20,205 Westland .. .. -. 66 12,250 Canterbury .. .. . . 280 112,845 Otago .. .. .. .. .. •• HI 45,395 Southland .. .. .. 120 43,955 Total .. .. .. . . 3,078 £1,202,995 The advances outstanding are as follows : —■ Number. ■ Not exceeding £500 .. .. .. .. 10,059 2,049,807 12 6 Exceeding £500 but not exceeding £1,000 .. 2,017 1,476,684 3 2 Exceeding £1,000 but not exceeding £2,000 .. 892 1,225,370 6 9 Exceeding £2,000 but not exceeding £3,000 .. 142 366,179 111 Total .. .. .. 13,110 £5,118,041 4 4

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The average amount of the advances now outstanding is £390. Number. £ On freeholds .. .. .. ~ .. 7,886 3,833,595 5 4 On leaseholds .. .. \'. ' .. 5,036 1,170,776 11 8 On freeholds and leaseholds (combined) . , / . . : 188 113,669 7 4 Total .. .. .. 13,110 £5,118,041 4 4 The average freehold advance is £486, the average leasehold advance is £232, and the average freehold and leasehold (combined) is £605. . Number. £ ""T'd On rural land .. ... .. .'.', 8,240 . .3,422,028 111 On urban and suburban land .. .. .. 4,870 ' ■ 1,696;013 2 5 Total .. .. .. 13,110 £5,118,041 4 4 The average rural advance is £415, and the average urban and suburban advance is £348. The advances granted during the year ended 31st March, 1909, are as follows : — Number. Amount d Not exceeding £500 '.-. .. '..' :. .. ' 2,147 617,010:12 0 Exceeding £500 but not exceeding £1,000 .. ,637. 478,255 0 0 Exceeding £1,000 but not exceeding £2,000 .. 229 322,775 0 0 : Exceeding £2,000 but not exceeding £3,000 .. 30 ' 75,795 0 0 Total .. ~ ~.,.: 3,043 £1,493,835 12 0 The average amount of the advances granted for the year is £491. Number. ■ i Amount. ■ . £ s. d. On freeholds .. .. '.. ~ .. 1,9.16 979,050 12, 0 On leaseholds .. .. .. .. 1,108 493,625 0 0 On freeholds and leaseholds (combined) . . , .... 19 21,160 00 . Total .. .. .. 3,043 £1,493,835 12 0 For the year the average freehold advance is £511, the average leasehold advance is £446, and the average freehold and leasehold (combined) is £1,114. Eighty-five per cent, of the advances made during the year was for loans not exceeding £500. The total sum raised by the Government on debentures for investment on mortgage is £5,158,800 out of £6,000,000 authorised under the Act. Thirteen thousand one hundred and ten mortgagors are now indebted to the Department to the extent of £5,118,041 4s. 4d. in respect of principal moneys, an increase during the year of 1,397 mortgagors, amounting to £932,021 Is. Bd. The gross profits for the year ended 31st March, 1909, were £74,679 18s. Bd., and the cost of management and expenses of the Department £9,969 11s. 7d., being 0-19 per cent., or 3s. 10d. per £100 on capital employed (the cost of the previous year was 0-18 per cent., or 3s. 7d. per £100). The net profits amounted to £63,835 19s. 3d., an increase on the previous year of £12,450 16s. lid., notwithstanding the large concessions granted to the mortgagors. A sum of £20,530 18s. Bd. has been added to the sinking fund established under section 27 of " The Government Advances to Settlers Act, 1908," bringing the total amount standing to the credit of that account to £44,189 18s. Bd. appropriated out of profits. , Mortgages under " The Land Transfer Act, 1908," and further charge mortgages are prepared and completed in the office at the nominal cost, including disbursements, of ss. About 3,249 mortgages have been so completed. This effects a large annual saving to mortgagors, and avoids a very considerable loss of valuable time for settler's, owing to the money being paid over at the nearest moneyorder post-office free of exchange. Seventeen freehold and eleven leasehold securities have for various reasons been realised by the Department up to the present time. In most cases fairly good surpluses over and above the advances owing to the Department have been obtained and refunded. In one case this year a loss of £92 has been made. It is the first since the inception of the Department. There are, however, on the Department's hands two securities which are not satisfactory and may ultimately prove a small loss, but it is not possible yet to predict what may be the final result. Mortgagors continue to meet their half-yearly payments of interest and principal in a manner creditable to themselves and highly satisfactory to the Department, the stringency in the moneymarket apparently not affecting their ability to meet their payments to any noticeable extent. The total amount of interest collected for the year amounted to £206,388 Is. 10d., an increase on the previous year of £34,327 14s. lid. The total amount of interest collected to the 31st March, 1909, amounted to the sum of £1,422,319, in addition to the repayments of principal £3,130,498, making a grand total of £4,552,817, besides a large sum for insurance premiums, fees, &c, only a very trifling loss having been incurred ;at the same time the amounts collected average.only abo.ut £12 of principal and interest combined per annum from each mortgagor., - The volume of business transacted during the year, including the Workers Branch, has, like the preceding few years.been very large, and a word of praise is due to the staff and to the ; Valuers for the care and attention given by them to their work, which has contributed largely to the very satisfactory results of the operations of the year. P. Heybs, F.S.A.A.Eng., Superintendent, Government Advances to Settlers Office, Wellington, 26th May, 1909.

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ADVANCES TO WORKERS BRANCH. Second Annual Report and Balance-sheet. The Government Advances to Workers Act was passed on the 29th October, 1906. Applications for loans were first considered by the Board at its meeting on the Bth January, 1907, and for the year ended 31st March, 1909, the applications dealt with numbered 1,784, and amounted to £472.989, as against 1,310 applications, amounting to £351,610, for the previous year, an increase of 474 applications, for £121,379. The advances actually granted during the year numbered 1,116, for £298,184 65., which exceeds those of the previous year by 336 for £94,206 3s. 10d. Up to the 31st March the Board had authorised 2,399 advances, amounting to £603,800. Applicants to the number of 142 declined the grants offered them, amounting to £32,590, so that the net advances authorised to the 31st March, 1909, numbered 2,257, and amounted to £571,210. Classified according to provincial districts, the advances authorised are as under :— Provincial Number of Amount ° f Ad ™ n «* District. Applications. authorised. Auckland .. .. ' .. .. .. ..610 144,965 Taranaki .. .. .. .. '.. .. 67 15,600 Hawke's Bay .. .. .. .. .. 123 31,615 Wellington .. .. .. .. .. ..549 145,155 Marlborough .. .. .. .. .. .. 80 19,525 Nelson .. .. .. .. .. .. 75 16,680 Westland .. .. .. .. .. .. 96 20,285 Canterbury .. .. .. .. .. 522 142,735 Otago .. .. .. .. .. ..196 50,265 Southland .. .. .. .. .. .. 81 16,975 ; Total .. : .. 2,399 £603,800 Classified according 'to provincial districts, the advances authorised during the year ended 31st March, 1909, are :— . t, . • i - at i. c Amount of Advances Provincial Number of ~ . j District. Applications. authorised. Auckland .. .. .. .. .. ..321 73,695 Taranaki .. .. .. .. .. .. 31 7,030 Hawke's Bay .. .. .. .. .. .. 54 14.180 Wellington .. .. .. .. .. ..281 75,875 Marlborough .. .. .. .. .. ..41 10,625 Nelson .. .. .. .. .. .. 53 11,895 Westland .. .. .. .. 25 5,705 Canterbury ~ ~ ~ .. .. ..264 71,575 Otago .. .. .. .. .. 106 26,905 Southland .... .. .."... .. 44 10,010 Total .. ' .. .. .. 1,220 £307,495 The advances outstanding are as follows : — Number. f & On freeholds .. .. .. ... .. 1,681 463,053 2 8 On leaseholds .. ... ..118 19,495 0 0 Total .. .. .. .. 1,799 £482,548 2 8 The average freehold advance is £275, and the average leasehold advance is £165. The advances granted during the year ended 31st March, 1909, are as follows : — Number. mou g nt d On freeholds 1,022 282,259 6 0 On leaseholds .. .. .. .. .. 94 15,925 0 0 Total .. .. .. .. 1,116 £298,184 6 0 For the year the average freehold advance is £276, and the average leasehold advance is £169. The total sum raised by the Government on debentures for investment on mortgage is £473,500. One thousand seven hundred and ninety-nine mortgagors are now indebted to the Department to the extent of £482,548 2s. Bd. in respect of principal moneys, an increase during the year of 1,042 mortgagors, amounting to £279,392 7s. It was predicted in last year's report that the result of this year's operations would produce profits sufficient to cover the deficiency arising from preliminary expenses, and leave a surplus. These anticipations have been realised, so that there is a credit balance to carry forward amounting to £1,542 4s. 6d., after making the necessary provision for sinking fund.

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The gross profits for the year ended 31st March, 1909, were £4,394 7s. Bd., and the cost of management and expenses of the Department £637 7s. 5d., being 0-18 per cent., or 2s. Bd. per £100 on the capital employed. The net profits amounted to £3,757 os. 3d. A sum of £1,552 17s. has been appropriated out of profits to the establishment of a sinking fund as required by section 56, (1), of " The Government Advances to Settlers Act, 1908." Under the provisions of the Act, all mortgages are prepared in the office free of cost to mortgagors, and the work has been done in a most satisfactory manner and without difficulty. P. Heybs, F.S.A.A.Eng., Superintendent. Government Advances to Settlers Office, Wellington, 26th May, 1909.

BALANCE-SHEET. Statement of Liabilities and Assets at 31st March, 1909.

Government Advances to Settlers Office, Wellington, 21st May, 1909. P. Heyes, F.S.A.A.Eng., Superintendent. W. N. Hinohliffe, Accountant. Examined and found correct, subject to the remark that the Sinking Fund shown as a liability has not been established by being set apart from the moneys of the Advances to Settlers Account and accounted for as a separate fund, the moneys required for such Sinking Fund not having been paid out of the Advances to Settlers Account, as directed by section 22 (c) of the Act. J. K. Wabbubton, Controller and Auditor-General. [The simple explanation of this is that the Sinking Fund is clearly accounted for in the books and balance-sheet of the Department as a separate fund, and that a transfer cf an amount from one account to another account in the books is equivalent to a transfer of cash. It is, moreover, impossible to transfer the cash for the amount to be paid according to the Act out of Interest Account into Sinking Fund Account within the year, because the amount, being 10 per cent, of the total interest received, cannot be ascertained until after the year has closed. —P. Heyes, F.S.A.A. Eng., Superintendent.]

Statement of Profit and Loss Account for the Year ended 31st March, 1909.

Liabilities. £ s. d. £ s. d. Assets. £ s. d. £ s. d. 3-per-cent. loans, redeemable 1st April, 1945,"A"and"B" 2,000,000 0 0 Sundry loans ..2,223,800 0 0 Advances on aocount of loans .. .. 935,000 0 0 Investment Account— Advances on mortgage .. .. 8,248,540 0 0 Less repayments .. 3,134,239 16 6 5,114,300 3 6 5,158,800 0 0 Accrued interest payable on deposits .. 19 16 11 Accrued interest payable on aocount of loans .. .. .. .. 15,743 6 8 Reserve Fund .. .. .. 50,000 0 0 Sinking Fund .. .. .. . 44,189 18 8 Suspense Account .. .. .. 2,221 i 1 Advances Suspense Account .. .. 24,798 18 5 Fire Loss Suspense Account .. .. 2,190 7 2 Profit and Loss Account .. .. 50,742 15 5 Mortgage instalments receivable—overdue .. .. .. .. 3,741 0 10 Interest receivable—overdue .. .. 14,325 1 8 Interest receivable —accrued .. .. 42,860 8 11 Bills receivable .. .. .. 128 10 7 Office Furniture Account .. .. 156 19 8 Insurance Premiums Accoum .. 106 13 8 Amounts transferred to Workers Branch 145,000 0 0 Gash in hand and in bank .. .. 29,834 19 1 Less unpresented cheques .. .. 1,747 10 7 28,087 8 6 £5,348,706 7 4 £5,348,706 7 4

Dk. 'o Management Expenses Account Loan-flotation charges for the year ended 31et March, 1909, written off Loss on realisation of security Balance —net profits for the year ended 31st Match, 1909 £ a. d. 9,969 11 7 782 7 5 92 0 5 63,835 19 3 Cβ. By Interest Account—gross profits Insurance premiums to 31st March, 1908, recovered Premium on Bale of debentures £ s. d. 71,574 15 7 91 8 1 3,013 15 0 £74,679 18 8 £74,679 18 8 Transfer to Sinking Fund.. Balance—net profits carried forward 20,530 18 8 50,742 15 5 Balance as at 31st March, 1908 Net profits for the year 7,437 14 10 63,835 19 3 £71,273 14 1 £71,273 14 1

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Statement of Interest Account for the Year ended 31st March, 1909.

Statement of Management Expenses Account for the Year ended 31st March, 1909.

Statement of Receipts and Expenditure for the Year ended 31st March, 1909.

Dβ. £ s. d. £ s. d. ?o Interest paid on loans 134,784 3 2 Less accrued interest at 31st March, 1908 .. .11,210 1 8 '■ 123,574 1 6 Cβ. £ s. d. £ s. d. By Interest received on mortgages .. 205,309 6 7 Interest reoeived on bank balances .. 275 4 3 Interest received on amounts transferred to Workers Branch .. .. 803 11 0 Interest paid on deposits 43 0 10 Less accrued interest at 31st Maroh, 1908 .. 20 3 8 22 17 2 Accrued interest payable on deposits at 31st March, 1909 .. .. 19 16 11 Accrued interest payable on loans at 31st March, 1909 .. .. .. 15,743 6 8 Balance of interest gross profits transferred to Profit and Loss Account .. 71,574 15 7 206,388 1 10 Less interest overdue and accrued at 31st March, 1908 .. .. 52,638 14 7 153,749 7 3 Interest receivable — £ s. d. Overdue at 31st March, 1909 .. 14,325 1 8 Accrued at 31st March, 1909 .. 42,860 8 11 —,—. 57,185 10 7 £210,934 17 10 £210,934 17 10

Dβ. £ s. d. 'o Audit Department .. .. .. 200 0 0 Court costs .. .. .. .. 39 5 5 Petty general expenses .. .. 11 0 0 Postages and telegrams .. .. 751 18 0 Post Office services .. .. .. 500 0 0 Printing and stationery .. .. 475 13 7 Registration and search fees.. .. 860 3 6 Salaries .. .. .. .. 6,945 5 4 Sundries .. .. .. .. 19 10 5 Telephones .. .. .. .. 18 5 11 Travelling-expenses .. .. .. 50 7 0 Valuation Department—Agency work .. 1,000 0 0 £10,871 9 2 Cβ. £ s. d. By Consent fees .. .. .. 20 10 6 Mortgage fees .. .. .. 288 10 0 Production fees .. .. .. 314 15 3 Release fees .. .. .. 278 1 10 Balance transferred to Profit and Loss Account 9,969 11 7 £10,871 9 2

Dβ. Receipts. £ ad. Oβ. Expenditure. £ s. d. 'o Cash in hand and in bank at 31st By Advances on mortgage .. .. 1,493,835 12 0 March, 1908 .. .. .. 1,126 9 7 Advances Suspense Account .. 27,574 19 7 Advances Suspense Account .. 200 0 0 Audit Department .. .. 200 0 0 Bills Eeceivable Account .. .. 105 18 6 Court costs .. .. .. 81 16 2 Consent fees .. .. .. 20 10 6 Fire Loss Suspense Account .. 3,261 17 0 Court costs .. .. .. 42 10 9 Insurance Premiums Account—prePire Loss Suspense Acoount .. 4,029 9 0 miums paid .. .. .. 604 7 0 Insurance Premiums Account—pre- Interest on loans.. .. .. 134,784 3 2 miums refunded .. .. 497 13 4 Interest on deposits .. .. 43 0 10 Interest on bank balances.. .. 275 4 3 Loan-flotatation Charges Account .. 782 7 5 Interest on mortgages .. .. 205,309 6 7 Mortgage fee refunded .. .. 0 5 0 Interest. on amounts transferred to Office Furniture Account .. .. 89 15 4 Workers Branoh .. .. 803 11 0 Petty general expenses .. .. 11 0 0 Mortgages and instalments repaid .. 559,163 9 11 Postages and telegrams .. .. 854 0 0 Mortgage fees .. .. .. 288 15 0 Post Office services .. .. 500 0 0 Production fees .. .. .. 316 19 3 Printing and stationery .. .. 475 13 7 Postages refunded .. .. 2 2 0 Profit and Loss Account—loss on Registration and search fees .. •• 730 8 6 realisation of seourity .. 92 0 5 Profit and Loss Account—insurance Production fees refunded .. .. 2 4 0 premiums, as at 31st March, 1908, Release fees refunded .. .. 0 10 0 transferred .. .. .. 91 8 1 Registration and search fees .. 1,590 12 0 Profit and Loss Account —premium Salaries .. .. .. .. 7,445 5 4 on sale of debentures .. .. 3,013 15 0 Suspense Acoount .. .. 50,032 9 5 Release fees .. .. .. 278 11 10 Telephones .. .. .. 18 5 11 Sundries .. .. .. 54 6 3 Sundries .. .. .. 73 16 8 Suspense Account .. .. 70,741 7 0 Temporary advances to Workers Temporary advances on account of Branch .. .. .. 145,000 0 0 loan .. .. .. .. 1,048,800 0 0 Travelling-expenses .. .. 50 7 0 Valuation fees .. .. .. 6,987 7 10 Valuation Department— £ s. d. Workers Branch refunds .. .. 600 0 0 Fees .. .. 4,887 18 8 Agency work .. 1,000 0 0 5,887 18 8 Valuation fees refunded and transferred .. .. .. 2,099 9 2 Cash in hand and in Bank at 31st March, 1909 ., .. 28,087 8 6 £1,903,479 4 2 £1,903,479 4 2 Government Advances to Settlers Office, Wellington, 21st May, 1909. P. Hekes, F.S.A.A.Eng., Superintendent. W. N. HiNCHLiFFB, Accountant. Examined and found correct.— J. K. Wabbueton, Controller and Auditor-General.

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WORKERS BRANCH.—BALANCE-SHEET. Statement of Liabilities and Assets at 31st March, 1909.

Statement of Profit and Loss Account for the Year ended 31st March, 1909.

Statement of Interest Account for the Year ended 31st March, 1909.

Statement of Management Expenses Account for the Year ended 31st March, 1909.

Liabilities. £ s. d. Assets. Advances on account of loan .. .. 328,500 0 0 Investment Account — £ s. d. £ s. d. Advances from Settlers Branch.. .. 145,000 0 0 Advances on mortgage .. 507,652 8 2 Accrued interest payable on aooount of Less repayments .. 25,216 0 8 advances .. .. .. .. 2,682 1 8 482,436 7 6 Suspense Account .. .. .. 77 14 9 Mortgage instalments receivable—overdue 111 15 2 Advances Suspense Aocount .. .. 7,015 17 8 Interest receivable—overdue .. .. 537 11 10 Fire Loss Suspense Account .. .. 250 0 0 Interest receivable—accrued .. .. 2,934 15 11 Sinking Fund Account .. .. 1,552 17 0 Insuranoe Premiums Aocount .. .. 4 1 10 Profit and Loss Account .. .. 1,542 4 6 Cash in hand and in bank 746 3 £ Less cheques not presented 150 0 0 596 3 4 £486,620 15 7 £486,620 15 7 Government Advances to Settlers Office, Wellington, 21st May, 1909. P. Hbybs, F.S.A.A.Eng., Superintendent. W. N. HiNCHLiFFB, Accountant. Examined and found correct.— J. K. Wabbukton, Controller and Auditor-General.

Dβ. Co Management Expenses Account Balanoe net profits for the year £ s. d. 637 7 5 3,757 0 3 Cβ. By Interest Aocount gross profits £ s. d. 4,394 7 8 £4,394 7 8 £4,394 7 8 Balance at 31st March, 1908 .. Transfer to sinking fund Balance net profits carried forward 661 18 9 1,552 17 0 1,542 4 6 Net profits for the year 3,757 0 3 £3,757 0 3 £3,757 0 3

Dβ. £ s. d. £ s. d. 'o Interest paid on loans .. 8,902 4 11 Less acorued interest at 31st , March, 1908 .. .. 1,524 13 2 7,377 11 9 Accrued interest payable on loans at 31st March, 1909 .. .. .. 2,682 1 8 Interest paid on amounts transferred from Settlers Branoh .. .. 803 11 0 Balance Interest Aocouct—gross profits transferred to Profit and Loss Account 4, 394 7 8 Or. £ s. d. £ s. d. By Interest on mortgages .. 13,152 17 4 Interest on bank balanoes 74 16 11 13,227 14 3 Less interest overdue and accrued at 31st March, 1908 .. .. 1,442 9 11 ■ 11,785 4 4 Interest receivableOverdue at31stMaroh, 1909 .. .. 537 11 10 Accrued at 31st March, 1909 .. .. 2,934 15 11 £15,257 12 1 3,472 7 9 £15,257 12 1

Dβ. !o Court oosts .. Postages and telegrams Printing and stationery Salaries Solicitors' oosts Sundries £ s. d. 0 6 0 .. 100 0 0 .. 26 7 0 .. 500 0 0 28 15 6 0 5 8 Oβ. £ s. d. By Consent fees .. .. .. 0 10 0 Production fees .. .. .. 11 1 9 Release fees .. .. .. 6 15 0 Balance transferred to Profit and Loss Account .. .. .. .. 637 7 5 £655 14 2 £655 14 2

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Statement of Receipts and Expenditure for the Year ended 31st March, 1909.

Approximate Cost of Paper. —Preparation, not given; printing (2,000 copies), £5 6s 6d.

By Authority : John Mackay, Government Printer, Wellington.—l9o9.

Price 6d,]

Dβ. Receipts. £, s. d. Or. Expenditure. £ s. d. !o oash in hand and in bank 31st Maroh, By Advances on mortgage .. .. 298,184 6 0 1908 .. .. .. .. 10,007 9 5 Court costs .. .. .. 110 Consent fees .. .. .. 0 10 0 Insurance premiums paid .. .. 15 0 5 Court costs .. .. .. 0 15 0 Interest on loans .. .. .. 8,902 4 11 Insuranoe premiums refunded .. 10 18 7 Interest on amount transferred from Interest on bank balances .. .. 74 16 11 Settlers Branoh .. .. .. 803 11 0 Interest on mortgages .. .. 13,152 17 4 Postages and telegrams .. .. 100 0 0 Mortgages and instalments of principal Printing and stationery .. .. 26 7 0 repaid .. .. .. .. 18,791 19 0 Registration and searoh fees, new New titles .. .. .. .. 6 0 0 titles, and stamp duty paid .. 444 18 9 Production fees .. .. .. 11 1 9 Salaries .. .. .. .. 500 0 0 Registration and search fees .. 427 11 3 Solicitors' oosts .. .. .. 28 15 6 Release fees .. .. .. 6 15 0 Sundries .. .. .. .. 0 10 0 Stamp duty .. .. .. 11 7 6 Suspense Aocount .. .. .. 22,727 3 10 Sundries.. .. .. .. 0 4 4 Advances Suspense Aocount .. 29,119 10 2 Suspense Account .. .. .. 49,945 1 5 Pire Loss Suspense Account .. 247 6 11 Advances Suspense Account.. .. 1 10 0 Valuation Department fees .. .. 887 12 6 Fire Loss Suspense Account .. 748 1 4 Valuation fees refunded and transferred 214 1 7 Temporary advances on account of loan 123,500 0 0 Cash in hand and in bank 31st March, Temporary advanoes from Settlers 1909 .. .. .. .. 596 3 4 IBranch .. .. .. .. 145,000 0 0 Valuation fees .. .. .. 1,101 14 1 £362,798 12 11 £362,798 12 11 i-overnment Advances to Settlers Office, Wellington, 21st May, 1909. P. Hbybs, P.S.A.A.Eng., Superintendent. W. N. Hinchliffb, Accountant. Examined and found correct.— J. K. Warburton, Controller and Auditor-General.