8.—13

2

Number and amounts advanced on rural and urban and suburban land — •v, . Amount. Number. „ , £ s. d. On rural land .. .. .. .. .. 11,589 4,873,592 2 4 On urban and suburban land .. .. .. 6,808 . 2,584,225 8 9 Totals .. .. .. .. 18,397 £7,457,817 11 1 The average rural advance is £421, and the average urban and suburban advance is £380. The amounts of the advances actually paid over to settlers during the year ended 31st March" 1913. are as follows: — „ , Amount. Number. „ , £ s. d. Not exceeding £500 .. .. .. ..1.654 502,010 0 0 Exceeding £500 but not exceeding £1,000 . . ' .. 258 182,640 0 0 Exceeding £1,000 but not exceeding £2,000 .. 94 134,110 0 0 Exceeding £2,000 but not exceeding £3,000 .. 13 31,540 0 0 Totals.. .. ... .. .. 2,019 £850,300 0 0 The average amount of the advances granted for the year is £421, and the tenure of the securities is >— Number. Amount. £ s. d. On freeholds .. .. .. .. .. 1,033 407,800 0 0 On leaseholds .. .. .. .. .. 960 426,010 0 0 On freeholds and leaseholds combined .. .. 26 16,490 0 0 Totals.. .: ..,._.. .. .. 2,019 £850,300 0 0 For the year the average freehold advance was £395, the average leasehold advance £444, and the average secured on freehold and leasehold combined £634. The total sum raised by the Government for investment on mortgage since the Department was started is £8,085,644 Is. 7d. Eighteen thousand three hundred and ninety-seven mortgagors are now indebted to the Department to the extent of £7,457,817 lis. Id. in respect of principal moneys, an increase during the year of 500 mortgagors, owing £156,789 6s. sd. The gross profits for the year ended 31st March, 1913, were £85,502 2s. 6d., and the cost of management and expenses of the Department £11,385 155., being 0-14 per cent., or 2s. 10d. per £100 on capital employed (the cost of the previous year being the same). The net profits amounted to £73,864 Is. 9d., of which the sum of £44,958 15s. 6d. has been applied in writing down loan-charges. A sum of £80,856 Bs. lOd. has been added to the sinking fund established under section 30 of the State-guaranteed Advances Act, 1909, which, with £10,463 Bs. interest earned and added to the fund held by the Public Trustee, brings the total amount standing to the credit of that account to £352,904 13s. 9d. No securities were realized by the Department during the year. Losses debited .amount to £6 Is. 6d. Two securities which are unsatisfactory still remain on the Department's hands. They are leased at a nominal rental, awaiting a favourable opportunity to quit. Mortgagors continue to meet their half-yearly payments of interest and principal in a manner creditable to themselves and satisfactory to the Department. G. F. C. Campbell, Superintendent. State-guaranteed Advances Office, Wellington, 26th June, 1913.

ADVANCES TO WORKERS BRANCH. Sixth Annual Report and Balance-sheet. The advances actually paid over to workers during the year numbered 1,321, and amounted to £449,260. Classified according to provincial districts, the advances authorized during the year ended 31st March, 1913, were — Provincial Number of Amount of Advances District. Applications. authorized. Auckland .. .. .. .. .. 416 136,515 Taranaki .. .. .. .. ... 48 13,530 Hawke's Bay .. .'. .. .. .. 63 18,370 Wellington ' .. .. .. .. .. 262 85,185 Marlborough .. .. .. .. .. 32 10,510 Nelson .. .. .. .. .. 17 4,420 Westland .. .. .. .. .. 8 1,680 Canterbury .. .. .. .. ..266 85,025 Otago .. .. .. .. .. 92 27,785 Southland .. .. .. .. .. 50 14,155 ' Totals .. ~ ~ ~ .. 1,254 £397,175