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Loan-moneys amounting to £1,082,315 14s. lOd. were received during the year. Mortgages and instalments of principal repaid for the year amounted to £415,978 15s. 2d. The total amount of interest collected for the year was £372,615 Is. Two leasehold and four freehold securities were realized by the Department during the year. The cost of management and expenses of the branch were £5,449, being 0-063 per cent., or Is. 3d. per £100 of the capital employed. The sinking fund, after redemption of loans totalling £187,000, amounts to £84,751 Bs. Bd. A. A. Prichard, Deputy Superintendent. State Advances Office, Wellington, 30th June, 1927.

ADVANCES TO LOCAL AUTHORITIES BRANCH. The following is a statement showing the advances under this branch authorized during the year ended 31st March, 1927, classified according to provincial districts : — Provincial Number of Amount of Advances District. Applications. au £ r,ze • Auckland .. . . .. . . . . 29 23,415 Taranaki .. .. .. .. .. 4 970 Wellington .. .. .. . . .. 14 4,555 Nelson .. .. .. .. .. .. 2 3,000 Canterbury .. .. .. .. .. ..3 11,500 Southland .. .. . . .. .. 1 1,250 Totals .. .. .. .. ..53 £44,690 Loan-moneys amounting to £4,764 2s. 3d. were received during the year. The amount actually paid over to 71 local bodies during the year was £55,800. Loans to the number of 1,922 have been made to local bodies. They are now indebted to the extent of £2,849,519 6s. 3d. in respect of principal moneys. Mortgages and instalments of principal repaid for the year amounted to £71,199 15s. 4d. The total amount of interest collected for the year was £118,305 9s. lOd. The sinking fund amounts to £358,188. A. A. Prichard, Deputy Superintendent. State Advances Offices, Wellington, 30th June, 1927.

PUBLIC DEBT SINKING FUNDS BRANCH. The following is a statement showing the advances under this branch authorized during the year ended 31st March, 1927, classified according to provincial districts :— p_, • • , Number of Amount of Advances j- rovmciai » ■. , • ,« . tv- . . , . Applications. authorized. Dlstrlct - Advances to Settlers. £ Auckland .. .. .. .. .. ..73 85,025 Taranaki .. .. .. .. .. ..6 11,145 Hawke's Bay .. .. . . . . 5 6,200 Wellington .. .. .. .. .. ..23 23,425 Canterbury .... .. .. .. 7 8,475 Otago .. .. .. .. .. ..7 5,575 Southland .. .. .. .. .. 10 12,755 Totals .. .. .. .. .. 131 £152,600 Advances to Workers. Auckland .. .. .. .. .. ..3 2,790 Canterbury .. .. .. .. .. ..5 4,140 Otago .. .. .. . . .. 1 550 Totals .. .. .. .. ..9 £7,480 Advances to Local Bodies. Auckland .. .. .. .. .. 1 600

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