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The number and amounts actually paid over, classified according to tenure of the securities, are as follows:— Number. Am ° unt - On freeholds .. .. .. .. .. .. 471 187,650 On leaseholds .. ... .. .. .. 260 107,190 On freeholds and leaseholds combined .. .. .. 8 3,890 Totals .. .. .. .. .. 739 £298,730 The, gross profits for the year ended 31st March, 1918, were £61,671, and the cost of management and expenses of the branch £9,920, being 0-107 per cent., or 2s. 2d. per £100 of the capital employed. The net profits amounted to £51,112. The sinking fund established under section 26 of the State Advances Act, 191.3, amounts to £759,000. inclusive of the amount held by the Public Trustee (£302,904). Seven leasehold and three freehold securities were realized by the Department during the year. Losses debited, and unpaid instalments in respect of mortgaged properties written off, amount to £639. G. F. C. Campbell, Superintendent. State Advances Offices, Wellington, 26th July, 1918.

ADVANCES TO WORKERS BRANCH. Eleventh Annual Report and Balance-sheet. The following is a statement showing the advances to workers authorized by the Board during the year, and classified according to provincial districts: — Provincial Number of Amount of Advances District. Applications. autnorized. Auckland .. .. .. .. ..109 35,660 Taranaki .. .. .. .. .. 15 4,265 llawke's Bay .. .. .. .. .. 23 a 7 -510 Wellington .. .. .. .. ..144 46,125 Marlborough .. .. .. .. .. 11 3,150 Nelson .. .. .. .. .. 4 1,135 Westland .. .. .. .. ..1 100 Canterbury .. .. .. .. ..85 27,120 Otago .. .. .. .. .. .. 15 3,515 Southland .. .. .. .. .. 4 1,130 Totals .. .. .. ..411 £129,710 The total of advances to workers now current and the tenure of the securities are as follows :— Number. Amount, On freeholds .. .. .. .. ..8,933 2,530,736 1 5 On leaseholds .. .. .. .. 578 106,053 10 3 Totals .. .. .. ..9,511 £2,636,789 11 8 The advances to workers actually paid over during the year ended 31st March, 1918, on freehold and leasehold are as follows :— .Number. Amount. On freeholds .. .. .. .. .. ..362 122,760 On leaseholds .. .. .. .. .. ..16 3,095 Totals .. .. .. .. ..378 £125,855 The gross profits for the year ended 31st March, 1918, were £13,205, and the cost of management and expenses of the branch £2,837, being 0-11.7 per cent., or 2s. 4d. per £100 of the capital employed. The net profits amounted to £9,755, of which the sum of £7,832 has been applied in writing down loan charges. The sinking fund established under section 26 of the State Advances Act, 1913, amounts to £27,647, inclusive of the amount held by the Public Trustee (£2,715). Three freehold securities were realized by the Department during the year. Losses debited, and unpaid instalments in respect of mortgaged properties written off, amount to £613. G. F. C. Campbell, Superintendent. State Advances Office, Wellington, 26th July, 1916.