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B.—l [Pt. 11l 1.

STATE ADVANCES OFFICE.—ADVANCES TO SETTLERS BRANCH— continued. Statement of Liabilities and Assets as at 31st March, 1922. Liabilities. £ s. cl. Assets, £ s. d. Sundry loans .. .. .. .. 9,283,193 1 10 Investment Account — Principal owing by Temporary advances from Advances Office mortgagors at 31st March, 1922 .. 0,944,622 1 10 Sinking Fund Account .. .. 219,000 0 0 Interest overdue .. .. .. 37,42112 9 Temporary advances from Public Debt Interest on mortgagos, accrued but not duo 76,808 6 8 Sinking Fund Branch .. .. 300,902 0 0 Temporary advances to Local Authorities Advances Suspense Account .. .. 10,205 0 0 Branch .. .. .. .. 409,000 0 0 Fire Loss Suspense Account .. .. 2,647 3 7 Temporary advances to Workers Branch .. 492,000 0 0 income-tax Suspense Account .. .. 31,007 16 5 Temporary investments .. .. 1,424,773 7 9 Suspense Account .. .. .. 2,244 3 4 Interest on temporary investments, accrued Interest on loans accrued but not due .. 75,494 7 0 but not due.. ... .. .. 19,368 2 5 Sinking Fund .. .. .. .. 849,423 18 0 Insurance Premium Account . . .. 344 810 Reserve Fund.. .. .. .. 52,378 13 5 Office Furniture and Equipment Account. . 2,224 3 10 Realization Account .. .. .. 2,32121 Sinking Fund investments — £ s. d. Held by Public Trustee 302,904 13 9 Advances Office Sinking Fund Account .. 1,019,250 1 9 Public Debt Sinking Fund Branch .. 12,634 4 5 *1,334,788 19 11 Cash in hand and in bank at 31st March, 1922 .. .. .. .. 83,423 17 0 £10,827,156 3 7 £10,827,156 3 7 * This amount includes the sum of £485,305 la. lid. capital paid into the sinking funds under the provisions of the State Advances Act, Wm. Waddel, Superintendent. State Advances Office, Wellington, 6tli June, 1922. W. N. Hinchliffe, Accountant. The Audit Office, having examined the balance-sheet and accompanying accounts, and compared them with the relative books, documents, and securities, hereby certifies them to be in accordance therewith.— G. F. C. Campbell, Controller and Auditor-General. ADVANCES TO WORKERS BRANCH. Statement of Profit and Loss Account for the Year ended 31st March, 1922. Dr. £ s. d. ! Or. £ s. d. To Management Expenses Account .. 3,921 6 2; By Interest Account —Gross profits .. 13,477 2 4 Loss on realization of securities .. 724 18 10 Balance—Net profits for the year .. 8,830 17 4 £13,477 2 4 £13,477 2 4 £ s. d. I £ s. d. To Loan-flotation charges written down .. 500 0 0I By Not profits for the year .. .. 8,830 17 4 Income-tax payable for year ended 31st March, 1921 .. .. .. 3,535 9 9 Approximate amount of iucomo-tax payable for year ended 31st March, 1922 '.. 3,607 7 8 Amount paid to Public Debt Sinking Fund Branch .. . . .. .. 597 5 4 Balance —Net profits transferred to Reserve Fund .. .. .. 590 14 7 £8,830 17 4 £8,830 17 4 Statement of Interest Account for the Year ended 31st March, 1922. Dr. £ s. d. E s. d. Or. £ s. d. £ s. d. To Interest on loans .. 95,979 7 6 By Interest on mortgages .. 124,160 17 II Less accrued at 31st March, Less overdue and accrued at 1921 .. .. 24,903 13 7 31st March, 1921 .. 39,369 5 3 71,015 13 11 84,791 12 8 Interest on amounts temporarily transferred Interest on bank balances .. .. 9 10 0 from Sottlcrs Branch. . .. .. 16,257 12 5 I Interest on mortgages— Interest on loans, accruod but not due .. 25,262 9 !)! Overdue at 31st March, Balance—Gross profits transferred to Profit, 1922 .. .. 9,007 710 and Loss Account .. .. .. 13,477 2 4 Accrued but not due at 31st March, 1922 .. 32,144 7 11 41,21115 9 £126,012 18 5 £126,012 18 5

s—B. 1 [Pt. hi; .