B.—l [PT. IY, SUP.] .

STATE ADVANCES OFFICE. ADVANCES TO SETTLERS BRANCH. Statement of Liabilities and Assets as at 31st March, 1925. Liabilities. £ s. d. Assets. £ s. d. Sundry loans .. .. .. .. 13,268,959 11 4 Investment Account—Principal owing by Temporary advances from— £ s. d. mortgagors .. .. .. .. 12,016,001 14 6 Public Debt Sinking Fund Temporary investments .. .. .. 197,500 0 0 Branch .. .. 349,000 0 0 Temporary advances to— £ s. d. Advances Office Sinking Fund Workers Branch .. 655,000 0 0 Account .. .. 249,500 0 0 Local Authorities Branch 361,500 0 0 Miscellaneous Business Branch 39,165 0 0 1,010,500 0 0 637,665 0 0 Sinking Fund investments Amount held for investment on behalf of the held by — Housing Insurance Fund .. .. 2,090 0 0 Advances Office Sinking Advances Suspense Account .. .. 36,690 0 0 Fund Account .. 1,555,086 17 4 Fire Loss Suspense Account .. .. 7,927 14 3 Public Debt Sinking Fund Suspense Account .. .. .. 8,240 11 2 Branch .. .. 22,914 2 1 Income-tax Suspense Account .. .. 7,173 8 9 1,578,000 19 5* Sundry creditors .. .. .. .. 2,445 210 Interest on mortgages — Interest on loans accrued but not due .. 121,281 8 3 Overdue .. .. 61,176 1 5 Reserve for bad debts .. .. .. 10,369 411 Accrued .. .. 136,809 12 4 Sinking Fund .. .. .. .. 1,139,335 17 6 197,985 13 9 Reserve Fund .. .. .. .. 25,000 0 0 Interest on temporary investments accrued 6,719 3 5 Office furniture and equipment .. .. 5,967 15 2 Sundry debtors .. .. .. .. 9,761 2 6 Loan Charges Account .. .. .. 108,154 19 10 Realization Account .. .. .. 495 11 9 Cash in hand and in bank at 31st March, 1925 130,090 18 8 £15,267,177 19 0 £15,267,177 19 0 * This amount includes £438,665 Is. lid. capital paid into the sinking fund under the provisions of the State Advances Act. Statement of Profit and Loss Account for the Year ended 31st March, 1925. Dr. £ s. d. Cr. £ s. d. To Management Expenses Account .. .. 27,151 8 3 By Interest Account—Gross profits . .. 66,604 0 4 Loss on realization of securities, and doubtful securities written down .. .. 11,073 7 1 Office furniture and equipment written down.. 314 1 9 Balance —Net profits for the year .. .. 28,155 3 3 £66,694 0 4 £66,694 0 4 £ s. d. £ s. d. To Loan-flotation charges written down .. 5,714 6 7 By Net profits for the year .. .. .. 28,155 3 3 Income-tax .. .. .. .. 4,757 6 J1 Balance of net profits invested in— £ s. d. Public Debt Sinking Fund Branch.. .. .. 3,798 18 2 Advances Office Sinking Fund Account .. .. 13,884 11 7 17,683 9 9 £28,155 3 3 £28,155 3 3 Statement of Interest Account for the Year ended 31st March, 1925. Dr. £ s. d. £ s. d. I Cr. £ s. d. £ s. d. To Interest on loans .. .. 462,962 13 1 By Interest on mortgages .. 460,477 5 9 Less accrued at 31st March, Less overdue and accrued at 1924 .. .. .. 104,243 17 4 31st March, 1924 .. 151,929 7 7 358,718 15 9 308,547 18 2 Interest on loans accrued but not due .. 121,281 8 3 Interest on outstanding payments .. .. 23 15 4 Interest on amounts temporarily transferred Interest on bank balances .. .. .. 888 7 0 from other branches .. .. .. 20,315 14 10 Interest on temporary advances to other Balance —Gross profits transferred to Profit branches .. .. .. 52,845 1 6 and Loss Account .. .. 66,694 0 4 Interest on temporary investments accrued at 31st March, 1925 .. .. .. 6,719 3 5 Interest on mortgages— Overdue at 31st March, 1925 61,176 1 5 Accrued but not r]ue at 31st March, 1925 . . .. 136,809 12 4 — 197,985 13 9 £567,009 19 2 £567,009 19 2

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