B.—l [PT. IV, Sup.] .

STATE ADVANCES OFFlCE—continued. Statement of Management Expenses Account for the Year ended 31st March, 1925. Dr. £ s. d. Or. £ s. d. To Advertising, newspapers, &c. .. .. 20 0 4 By Consent fees .. .. .. .. 38 18 0 Audit Office services .... .. .. 300 0 0 Production fees .. .. .. .. 701 7 10 Cleaning, lighting, heating, and messenger Release fees .. .. .. .. 342 12 0 services .. .. .. .. 359 2 4 Sundry fees .. .. .. .. 1 8 10 Fees paid for special services in respect of Balance transferred to Profit and Loss Account 27,151 8 3 securities .. .. .. .. 356 9 2 Management charges on .New Zealand stock and bonds .. .. .. .. 1,539 9 0 Meal allowances and overtime .. .. 263 12 9 Office maintenance .. .. .. 701 3 0 . Postages and telegrams .. .. .. 534 6 5 Post Office services .. .. .. 1,205 19 2 Printing and stationery .. .. .. 297 4 5 Public Service Superannuation Fund contribution .. .. .. .. 481 8 3 Rent .. .. .. .. .. 2,784 3 9 Salaries.. .. .. .. .. 18,224 14 3 Solicitors' costs and Court costs .. .. 18 6 0 Telephones .. .. .. .. 90 11 7 Travelling-expenses .. .. .. 325 15 5 Typewriters and adding-machines—Repairs .. 83 9 1 Valuation Department—Agency work .. 650 0 0 £28,235 14 11 £28,235 14 11 Wm. Waddel, Superintendent. State Advances Office, Wellington, 11th June, 1925. 11. Kobertson, Accountant. The Audit Office, having examined the balance-sheet and accompanying accounts and compared them with the relative books and documents and securities, hereby certifies them to be in accordance therewith.—G. P. C. Campbell, Controller and Auditor-General. ADVANCES TO WORKERS BRANCH. Statement of Liabilities and Assets as at 31st March, 1925. Liabilities. £ s. d. Assets. £ s. d. Sundry loans .. .. .. .. 5,391,691 17 1 Investment Account —Principal owing by mortTemporary advances from Settlers Branch .. 655,000 0 0 gagors .. .. .. ..5,613,475 2 4 Interest on loaiis accrued but not due .. 53,165 16 2 Sinking Fund investments held Advances Suspense Account .. .. 67,475 0 0 by— Fire Loss Suspense Account .. .. 1,525 10 0 Advances Office Sinking Fund £ s. d. Suspense Account .. .. .. 87 17 4 Account .. .. 67,116 16 4 Sundry creditors .. .. .. .. 258 2 8 Public Debt Sinking Fund Sinking Fund .. .. .. .. 56,537 12 7 Branch .. .. 10,512 4 2 77,629 0 6* Temporary investments ~ .. .. 147,500 0 0 Interest on mortgages— Overdue .. .. 19,219 7 3 Accrued .. .. 60,617 3 9 79,836 11 0 Interest on temporary investments accrued .. 8,085 13 3 Sundry debtors .. .. .. .. 462 13 1 Loan Charges Account .. .. .. 181,596 17 3 Profit and Loss Account .. .. .. 6,507 0 9 Cash in hand and in bank at 31st March, 1925 110,648 17 8 £6,225,741 15 10 £6,225,741 15 10 * This amount includes the sum of £21,091 7s. 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. Or. £ s. d. To Management Expenses Account .. .. 4,769 1 3 By Interest Account—Gross profits .. .. 193 12 0 Loss on realization of securities .. .. 90 19 8 Balance —Loss for the year .. .. .. 4,666 8 11 £4,860 0 11 £4,860 0 11 £ s. d. By Income-tax provided for, 31st March, 1924 —Not £ s. d. To Loan-flotation charges written down .. .. 9,564 10 1 now required .. .. .. .. 191 8 4 Loss for the year .. .. .. .. 4,666 8 11 Transfer from Reserve Fund .. .. 7,532 9 11 Balance .. .. .. .. .. 6,507 0 9 £14,230 19 0 £14,230 19 0 Statement of Interest Account for the Year ended 31st March, 1925. Dr. £ s. d. £ s. d. Or. £ s. d. £ s. d. To Interest on loans .. .. 176,376 15 11 By Interest on mortgages .. 211,056 7 1 Less accrued at 31st March, Less interest overdue and 1924 .. .. 29,338 0 7 accrued at 31st March, 1924 62,205 18 6 — — 147,038 15 4 148,850 8 7 Interest on amounts temporarily transferred Interest on bank balances .. .. .. 131 0 3 from Settlers Branch .. .. .. 36,505 9 7 Interest on temporary investments accrued at Interest on loans accrued but not due .. 53,165 16 2 31st March, 1925 .. .. .. 8,085 13 3 Balance — Gross profits transferred to Profit Interest on mortgages-— and Loss Account .. .. .-. 193 12 0 Overdue at 31st March, 1925 19,219 7 3 Accrued but not due at 31st March, 1925 .. .. 60,617 3 9 79,836 11 0 £236,903 13 1 £236,903 13 1

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