81

B.—l [Pt. IV].

STATE ADVANCES OFFlCll— continued. ADVANCES TO SETTLERS BRANCH— continued. Statement of Interest Account for the Year ended 31st March, 1923. Dr. £ s. d. £ s. cl. Cr. £ s. d. £ s. d. To Interest on loans .. .. 340,799 14 0 By Interest on mortgages ".. 312,801 10 8 Less accrued at 31st March, Loss overdue and accrued at 1922 .. .. 75,494 7 0 31st March, 1922 .. .. 114,289 19 5 271,305 7 0 198,571 17 3 Interest on loans accrued but not due .. 75,055 9 3 Interest on outstanding payments .. .. 6 13 7 Interest on amounts temporarily transferred Interest on bank balances .. .. .. 113 2 0 from other branches .. .. .. 14,881 2 11 Interest on temporary advances to othor Balance) —Gross profits transferred to Profit branches .. .. .. .. 32,009 4 1 and Loss Account .. .. .. 51,579 5 9 Interest on temporary investments.. .. .. 64,874 3 5 Less accrued at 31st March, 1922 .. .. .. 19,368 2 5 45,506 1 0 Interest on temporary investments accrued at 31st March, 1923 .. .. .. 18,413 8 3 Interest on mortgages — Overdue at 31st March, 1923 40,737 12 6 Accrued but not due at 31st March, 1923 .. .. 76,803 5 9 117,540 18 3 £412,821 4 11 £412,821 4 11 Statement of Management Expenses Account for the Year ended 31st March, 1923. Dr. £ s. d. Cr. £ s. d. To Advertising, newspapers, &c. .. .. 14 13 0 By Consent foes .. .. .. .. 19 2 6 Audit Office services .. .. .. 300 0 0 Cost of preparation of mortgages ... .. 10 18 6 Cleaning, lighting, heating, and mossengcr Production foos .. .. .. .. 507 9 0 services- .. .. .. .. 592 1 10 Reloaso fees .. .. .. .. 238 15 2 Contingencies .. .. .. .. 18 18 3 Balance transferred to Profit and Loss Account 19,880 9 0 Foes paid for special services in respect of securities .. .. .. .. 78 18 9 Management charges on Now Zealand stock and bonds .. ... .. .. 1,044 8 7 Meal allowances when working overtime .. 200 12 6 Postages and telegrams .. .. .. 1,188 3' 0 Post Office services .. .. .. 1,201 8 1 Printing and stationery .. .. .. 711 18 3 Rent .. .. .. .. .. 590 0 0 Salaries .. .. . . .. .. 12,865 110 Solicitors' costs and Court costs .. .. 7 13 5 Telephones .. .. .. .. 32 12 10 Travelling-expenses .. .. .. 504 17 5 Typewriters and adding-maehines—Repairs .. 61 0 11 Valuation Department—Agency work .. 650 0 0 £20,662 14 8 £20,662 14 8 Wm. Waddel, Superintendent. R. Robertson, 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.

11— B. 1 [Pt. IV].