B.—l [Pt. IV].

80

STATE ADVANCES OFFICE. ADVANCES TO SETTLERS BRANCH. Statement of Liabilities and Assets as at 31st March, 1923. Liabilities. £ s. d. Assets. £ s. cl. Sundry loans .. .. .. .. 9,238,195 15 10 Investment Account—Principal owing by mortTomporary advances from Advances Offico gagors .. .. .. .. .. 0,990,292 5 10 Sinking Fund Account .. .. .. 445,500 0 0 Temporary investments .. .. .. 1,160,000 0 0 Tomporary advances from Public Dobt Sinking Temporary advances to Workers Branch .. 845,000 0 0 Fund Branch .. .. ~ .. 194,000 0 0 Temporary advances to Local Authorities Branch 145,500 0 0 Advances Suspense Account .. .. 17,950 0 0 Sinking Fund investments Firo Loss Suspense Account.. .. .. 1,779 10 5 held by— Suspense Account .. .. .. .. 3,312 511 Advances Offico Sinking £ s. d. Income-tax Suspense Account .. .. 16,033 16 4 Fund Account .. 1,387,119 0 8 Sundry creditors .. .. .. .. 2,252 19 8 Public Debt Sinking Fund Interest on loans accruod but not due .. 75,055 9 3 Branch .. .. 16,058 3 0 Sinking Fund .. .. .. .. 962,812 8 3 *1,403,177 10 2 Reserve Fund .. .. .. 25,000 0 0 Interest on mortgages— Overdue .. .. 40,737 12 0 Accrued. .. .. 76,803 5 9 117,540 18 3 Interest on temporary investments accrued .. 18,413 8 3 Office Furniture and Equipment Account .. 2,212 12 11 Insurance Premium Account .. .. 479 6 2 Sundry debtors - .. .. .. .. 21 0 0 Realization Account .. .. .. 2,451 7 3 Cash in hand and in bank at 31st March, 1923 290,803 10 10 £10,981,892 5 8 £10,981,892 5 8 • This amount includes the sum of £440,365 Is. lid. capital paid into the sinking funds under the provisions of the State Advances Act. Statement of Profit and Loss Account for the Year ended 31st March, 1923. Dr £ s. d. Cr. £ s. d. To Management Expenses"Account .. .. 19,886 9 0 By Interest Account—Gross profits .. .. 51,579 5 9 Losses on realization of securities and doubtful securities written down .. -. •• 2,321 2 1 Office Furniture and Equipment Account written down .. .. •• •• 116 9 0 Balance—Net profits for the year .. .. 29,255 5 8 £51,579 5 9 £51,579 5 9 £ s. d. £ s. d. To Loan-flotation charges written down .. 214 0 By Net profits for the year .. .. •• 29,255 5 8 Sinking fund invested in Public Debt Branch 2,860 13 2 Inoomo-tax .. .. •• •• 1,500 0 0 Balanco—Net profits invested in Advancos Offico Sinking Fund Account .. .. 24,89118 6 £29,255"~5~1 £29,255 5 8