8.—13

2

The number and amounts actually paid over, classified according to tenure of the securities, are as follows :— Amount. Number. £ On freeholds .. .. .. .. 706 365,985 On leaseholds .. .. .. 242 156,805 On freeholds and leaseholds combined .. .. .. 8 7,195 Totals .. .. .. .. .. 956 £529,985 The gross profits for the year ended 31st March, 1922, were £54,586, and the cost of management and expenses of the branch £18,308, being 0*197 per cent., or 3s. lid. per £100 of the capital employed. £ s. a. The net profits for the year amounted to .. .. .. .. .. 35,595 18 8 The following are the appropriations from the profits for the year:— £ s. (1. Amount paid to the Public Debt Sinking Fund Branch .. 1,609 8 10 Income-tax payable for the year ended 31st March, 1921 .. 17,074 0 1 Approximate amount of income-tax payable for the year ended 31st March, 1922 .. .. .. .. 14,533 16 4 33,217 5 3 Leaving a balance of .. .. .. .. .. £2,378 13 5 which has been transferred to the Reserve Fund. The sinking fund amounts to £1,3,34,789, inclusive of the amount held by the Public Trustee (£302,904). Six leasehold and two freehold securities were realized by the Department during the year. Losses debited, and unpaid instalments in respect of mortgaged properties written off, amount to £2 321 Wm. Waddel, Superintendent. State Advances Offices, Wellington, 21st June , 1922. *

ADVANCES TO WORKERS BRANCH, Fifteenth 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. authorized. Auckland .. .. .. .. ..279 127,460 Taranaki .. .. .. .. .. 31 11,705 Hawke's]jßay .. .. .. .. .. 106 46,835 Wellington .. .. .. .. .. 166 70,225 Marlborough .. .. .. .. .. 11 3,900 Nelson .. .. .. .. .. 5 1,675 Canterbury .. .. .. .. .. 200 90,185 Otago .. .. .. .. .. ..31 12,120 Southland .. .. .. .. ..23 9,820 Totals .. .. .. ..852 £373,925 The total of advances to workers now current and the tenure of the securities are as follows :— Number. Amount. On freeholds .. .. .. .. .. 9,158 2,741,264 1 5 On leaseholds ..' .. .. .. 569 114,120 1 8 Totals .. .. .. .. 9,727 £2,855,384 3 1 The advances to workers actually paid over during the year ended 31 st March, 1922, on freehold and leasehold are as follows : — Number. Amount. On freeholds .. .. .. .. .. .. 701 344,725 On leaseholds .. .. .. .. .. 29 13,145 Totals .. .. .. .. 730 £357,870