B.—lB.

Interest Account foe the Year ended 31st March, 1927. Dr. £ s. d. £ s. d. Cr. £ s. d. £ s. d. To Interest on loans .. .. 836,179 111 By Interest on mortgages .. 757,007 11 7 Less accrued at 31st March, Less overdue and accrued at 1926 .. .. 163,984 2 7 31st March, 1926 .. 253,078 17 8 672,194 19 4 503,928 13 11 Interest on loans accrued but not due .. 176,996 19 10 Interest on outstanding payments .. .. 56 0 1 Interest on amounts temporarily transferred Interest on bank balances .. .. 772 16 6 from other branches .. .. .. 33,271 1 2 Interest on temporary advances to other Balance—Gross profits transferred to Profit and branches .. .. .. .. 88,187 10 0 Loss Account .. .. .. .. 94,434 19 6 Interest on temporary invest- £ s. d. ments .. .. .. 54,206 5 1 Less accrued at 31st March, 1926 .. .. .. 32,810 13 8 21,395 11 5 Interest on temporary investments accrued at 31st March, 1927 .. .. .. 7,995 16 11 Interest on mortgages — £ s. d. Overdue at 31st March, 1927 139,732 6 9 Accrued but not due at 31st March, 1927 .. .. 214,829 4 3 354,561 11 0 £976,897 19 10 £976,897 19 10 ! , Management Expenses Account for the Year ended 31st March, 1927. Dr. £ s. d. Cr. £ s. d. To Advertising, newspapers, &c. .. .. 16 18 2 By Consent fees .. .. .. .. 25 10 0 Audit Office services .. .. .. 300 0 0 Production fees .. .. . . .. 856 13 9 pieaning, lighting, heating, and messenger Release fees .. .. .. .. 307 8 6 services .. .. .. .. 460 0 0 Sundry fees .. .. .. .. 8 18 6 Compassionate allowance to Mrs. Foote .. 190 0 0 Balance transferred to Profit and Loss Account 30,426 4 11 Fees paid for special service in respect of securities .. .. .. .. .. 63 18 6 Management charges on New Zealand stock and bonds .. .. .. .. 999 0 9 Meal allowances and overtime .. .. 562 1 0 Office maintenance .. .. .. 137 13 6 Postages and telegrams .. .. .. 906 17 2 Post Office services .. .. .. 1,586 8 6 Printing and stationery .. .. .. 1,729 16 11 Public Service Superannuation Fund contribution .. .. .. . . 298 5 7 Rent .. .. .. .. .. 2,474 8 9 Salaries .. .. .. . . . . 20,273 4 3 Solicitors costs and Court costs . . .. 23 15 5 Telephones .. .. .. . . 154 1 6 Travelling-expenses .. .. . . 722 5 0 Typewriters and adding-machines—Repairs .. 75 19 II Valuation Department—Agency work . . 650 0 0 £31,624 15 8 £31,624 15 8 A. A. Prichard, Deputy Superintendent. State Advances Office, Wellington, 30th June, 1927. R. Robertson, Accountant. I hereby certify that the Balance-sheet and accompanying accounts have been duly examined and compared with the books and documents submitted for audit, and correctly state the position as disclosed thereby.—J. H. Fowler, Deputy Controller and Auditor-General. ADVANCES TO WORKERS BRANCH. Statement of Liabilities and Assets as at 31st March, 1927. Liabilities. £ s. d. Assets. Sundry loans .. .. .. .. 8,058,022 19 II Investment Account —Principal owing by mort- £ s. d. Temporary advances from Settlers Branch .. 1,585,000 0 0 gagors .. .. .. .. 9,454,207 15 7 Interest on loans accrued but not due .. 69,833 7 8 Sinking Fund investments held by Advances Advances Suspense Account .. .. 189,496 12 1 Office Sinking Fund Account .. .. *84,751 8 8 Fire Loss Suspense Account .. .. 1,355 0 0 Interest on mortgages — £ s. d. Suspense Account .. .. .. 4,416 10 7 Overdue.. .. .. 42,159 2 5 Income-tax Suspense Account .. .. 1,529 1 6 Accrued.. .. .. 109,543 10 9 Sundry creditors .. .. .. .. 976 5 6 151,702 13 2 Reserve for bad debts .. .. .. 188 9 9 Interest on temporary investments accrued .. 1,416 0 6 Sinking Fund .. .. .. .. 63,660 0 9 Sundry debtors .. .. .. .. 513 0 4 Loan Charges Account .. .. .. 246,834 11 3 Profit and Loss Account .. .. .. 32,97509 Cash in hand and in bank at 31st March, 1927 2,077 17 6 £9,974,478 7 9 £9,974,478 7 9 * This amount includes the sum of £21,091 7s. lid. capital paid into the Sinking Fund under the provisions of the State Advances Act.

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