8.—13.

The advances outstanding are as follows : — .. . Amount. Number. £ s d Not exceeding £500 ... ... ... 11,261 2,280,512 16 1 Exceeding £500, but not exceeding £1,000 ... 2,136 1,643,694 3 2 Exceeding £1,000, but not exceeding £2.(MX) ... 955 1,326,670 (i 9 Exceeding £2,000, but not exceeding £3,000 ... 156 416,756 111 Total ... ... ... ... 14,508 £5,667,633 7 11 The average amount of the advances now outstanding is £391. Number and amounts advanced on freehold and leasehold :— .. i Amount. Number. £ g d On freeholds ... ... ... ... 8,686 4,160,187 0 11 On leaseholds ... ... ... ... 5,616 1,383,776 17 8 On freeholds and leaseholds (combined) 206 123,669 9 4 Total ... ... ... ... 14,508 £5,667,633 7 11 The average freehold advance is £+79, the average leasehold advance is £ - 24(i. and the average freehold and leasehold (combined) is £600. Number and amounts advanced on rural and urban and suburban land : — .. , Amount. Number. £ _ (| On rural land ... ... ... ... 9.172 3,786,717 6 6 On urban and suburban land ... ... 5,336 1,880,916 1 5 Total ... ... ... ... 14,508 £5,6(17,633 7 11 The average rural advance is £413, and the average urban and suburban advance is £352. The amounts of the advances granted during the rear ended 31st March, 1910, are as follows :— ~ , Amount. Number. £ 8 d Not exceeding £500 ... ... ... 2,302 675,120 0 0 Exceeding £500, but not exceeding £1,000 ... 319 227,010 0 0 Exceeding £1,000, but not exoeeding £2,000 ... 103 141,300 0 0 Exceeding £2,000, but not exceeding £3,000 ... 21 51,690 0 0 Total ... ... ... ... 2,745 £1,095,120 0 0 The average amount of the advances granted for the year is £399, and the tenure of the securities is— XT , Amount. Number. £ 8 d On freeholds 1,548 637,430 0 0 On leaseholds ... ... ••■ ■■■ 1,175 437,315 0 0 On freeholds and leaseholds (combined) ... 22 20,375 0 0 Total ... .. 2,745 £1,095,120 0 0

For the year the aveiage freehold advance was £4 12. tin- average leasehold advance £372, and the average freehold and leasehold (combined) £926. The total sum raised by the Government on debentures For investment on mortgage since the Department was started is ' £5.748,51 id. Fourteen thousand live hundred and eight mortgagors are now indebted to the Department to the extent of £5,007,033 7s. lid. in respect of principal moneys, an increase during the year of 1,398 mortgagors, owing £510.502 Bs. 7d. The gross profits for the year ended 81st March, 1910, were E50.684 12s. 10d., and the cost of management and expenses'of the Department £S.S4O ss. 2d., being 015 per cent., or 3s. per £100, on capital employed (the cost of the previous year was 010 per cent., or 3s. lOd. per £100). The net profits amounted to £41,833 6s. lOd. A sum of £57,438 has been added to the sinking fund established under section 30 of the Slate-guaranteed Advances Act, 1909, bringing the total amount standing to the credit of that account to £101,627 18s. Bd. . Seventeen freehold and thirteen leasehold securities have for various reasons been realized by the Department up to the present time. In one case this year a loss of £5 Os. lOd. has been niade. There are, however, on the Department's hands two securities which are not satisfacto'rv. At present they are leased at a nominal rental, awaiting a favourable opportunity for realization. . ..... 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 to'anv noticeable extent their ability to meet their payments. The total amount of interest collected for the year amounted to £241,405 Is. lid., an increase on the previous year of £35,077 os. Id. The total amount of interest collected from the time

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