8.—13.

Statement of Management Expenses Account for the Year ended 31st March, 1922. Dr. £ s. d. Or. £ s. d. To Advertising, newspapers, &c. .. . . 9 14 6 By Consent fees .. .. .. . . 22 5 6 Audit Office services .. .. .. 300 0 0 Cost of preparation of mortgages .. 7 11 0 Commission fees .. .. .. 58 10 0 Production fees .. .. .. 009 19 11 Inspection fees . . . . .. 18 18 0 Release fees .. .. .. .. 243 0 0 Management charges on New Zealand stock Sundries .. .. .. .. 10 9 and bonds .. .. .. .. 929 8 5 Balance transferred to Profit and Loss Office maintenance .. .. .. 113 15 3 Account. .. .. .. .. 18,308 2 9 Petty general expenses . . . . 41 14 0 Post Office services .. . . . . 735 16 1 Postagos and telegrams . . .. 984 5 9 Printing and stationery . . . . 575 18 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-maehines —Repairs 53 5 9 Valuation Department—Agency work .. 650 0 0 £19,191 19 11 £19,191 19 11 Wm. Waddel, Superintendent. State Advances Office, Wellington, 6th 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 WORKUPS BRANCH. Statement of Liabilities and Assets as at 31st March, 1922. Liabilities. £ s. d. Assets. £ s, d. Sundry loans .. .. .. .. 2,419,346 14 1 Investment Account—Principal owing by Temporary advances from Settlers Branch 492,000 0 0 mortgagors as at 31st March, 1922 .. 2,855,384 3 1 Interest on loans accrued but not due .. 25,262 9 9 Interest overdue .. .. .. 9,067 . 7 10 Advances Suspense Account .. .. 13,710 0 0 Interest on mortgages accrued but not due 32,144 7 11 Fire Loss Suspense Account .. .. 8 0 0 Loan Charges Account .. .. .. 11,500 0 0 Income-tax Suspense Account .. .. 7,142 17 5 Insurance Premiums Account .. .. 139 14 3 Suspense Account .. .. . . 539 1,9 8 Realization Account .. .. .. 500 13 1 Sinking Fund .. .. .. .. 45,307 5 4 Sinking Fund-investments — Reserve Fund.. .. .. .. 590 14 7 Held by Public Trustee .. 2,715 17 9 Advances Office Sinking Fund Account ..67,645 19 9 Public Debt Sinking Fund Branch .. ' .. 5,170 3 7 75,532 1 I* Cash in hand and in bank at 31st March, 1922 * .. .. .. .. 19,639 13 7 £3,003,908 0 10 £3,003,908 0 10 * This amount includes the sum of £30,224 15s. i)d. capital paid into tin; sinking funds under the provisions of the State Advances Act. 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 0 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. £ s. d. To Loan-flotation charges written down .. 500 0 0 By Net profits for the year ... .. 8,830 17 4 Income-tax payable for year ended 31st March, 1921 .. .. .. 3,535 9 9 Approximate amount of income-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

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