8.--1 [Pt. lII].

32

STATE ADVANCES OFFICE. ADVANCES TO SETTLERS BRANCH. Statement of Management Expenses Account for the Year ended 31st March, 1922. Dr. £ s. d. Or. £ s. d. To Advertising, newspapers, &c. .. .. 914 6 By Consent fees .. ... .. .. 22 5 0 Audit Office services .. .. .. 300 0 0 Cost of preparation of mortgages .. 7 11 0 Commission fees .. .. .. 58 10 0 Production fees .. .. .. 609 19 11 Inspection fees .. .. .. IS 18 o Release fees .. .. .. .. 243 o ti Management charges c m New Zealand stock Sundries .. .. .. .. 10 9 and bonds .. .. .. .. 929 8 5 Balance transferred to Profit and Loss Office, maintenance .. .. .. 113 15 3 Account .. .. .. .. 18,303 2 9 Petty general expenses .. .. 41 11 0 Post Office services .. .. .. 735 10 1 Postages and telegrams . . .. 984 5 9 Printing and stationery .. .. 575 Is 2 Rent .. .. .. .. 180 6 8 Salaries .. .. .. .. 14,098 6 6 Solicitors' costs .. .. .. 40 1 6 Telephones .. .. .. .. 75 13 0 Travelling-expenses .. .. .. 326 6 4 Typewriters and adding-machines—Repairs 53 5' 9 Valuation Department—Agency work .. 650 0 0 - £19,191 19 11 £19,191 19 11 Statement 1 of Profit and Loss Account for the Year, ended 31st March, 1922. Dr. £ s. d. I Or. £ s d. To Management Expenses Aoeount .. 18,308 2 9 By Interest Account—Gross profits .. 54,586 is 2 Office Furniture and Equipment Account written down .. . . .. 117 1 3 Loss on realization of securities.. .. 505 15 6 Balance—Net profits for the year .. 35,595 18 8 £54,586 18 2 £54,586 18 2 £ s. d. £ s. d. To Accumulated profits as at 31st March, 1921, . By Balance as at 31st March, 1921 .. ..791,099 11 4 transferred to Sinking Fund .. ..791,099 11 4 ' Net. profits for the year .. .. 35,595 18 8 Amount paid to Public Debt Sinking Fund Branch .. . . .. .. 1,609 810 Income-tax payable for year ended 31st March, 1921 .. ' .. .. 17,074 0 1 Approximate amount of income-tax payable for year ended 31st March, 1922 .. 14,533 16 4 Balance —Net profits transferred to Reserve Fund .. .. .. 2,378 13 5 £820,095 10 0 £826,695 10 0 m Statement of Interest Account for tub Year ended 31st March, 1922. Dr. £ s. d. £ s. d. Or. £ s. d. £ s. d. r l.'o Interest on loans .. 340,064 4 6 By Interest on mortgages .. 308,128 010 Less accrued at 31st March, Less overdue: and accrued 1921 .. .. 75,114 12 1 at 31st March, 1921 .. 104,059 8 2 - 271,549 12 5 201,068 12 8 Interest on loans, accrued but not due .. 75,494 7 0 Interest on bank balances .. .. 85 13 3 Interest on amounts temporarily trans- Interest on temporary advances to other ferred from other branches .. .. 20,768 10 3 branches .. .. .. .. 27,884 12 8 Balance—Gross profits transferred to Interest on temporary inProfit and Loss Account .. .. 54,580 18 2 vestments .. .. 97,005 5 4 I .ess accrued at 31st March, 1921 .. .. 34,302 11 II 62,702 13 5 Interest on temporary investments, accrued at 31st March, 1922 .. .. 19,368 2 5 Interest on mortgages — Overdue at 31st March, 1922 .. .. 37,421 12 9 Accrued but not duo at 31st March, 1922 .. 76,868 6 8 114,289 19 5 ■ £428,399 13 10 £428,399 13 10