8.—13

5

ADVANCES OFFICE SINKING FUND. 52. During the year the State Advances Board has authorized twenty-eight advances amounting to £14,170. 53. The advances paid over during the year to twenty-nine borrowers was £12,420. 54. 1,508 settlers are now indebted to the extent of £1,044,474 14s. ; 141 workers, £64,569 18s. 4d.; and local bodies (in respect of 323 loans), £403,141 Bs.; a total of £1,512,186 os. 4d. in respect of principal moneys. 55. Mortgages and instalments of principal repaid for the year amounted to £76,963 7s. Id. 56. The amount of interest collected was £102,687 18s. 2d. 57. The interest earned for the year amounted to £101,898 16s. Id. 58. To date loan-moneys amounting to £921,666 7s. sd. have been redeemed out of sinking funds, and the balance held to the credit of the fund at the close of the year was £1,775,183 2s. 6d. 59. The cost of management expenses was nil. MISCELLANEOUS BUSINESS BRANCH. Repatriation. 60. During the year the sum of £43,994 os. lOd. principal moneys was repaid by borrowers. 61. The present position is that 1,391 borrowers are indebted to the extent of £176,245 18s. 3d. for business loans, and 5,150 borrowers owe £111,278 16s. lid. for furniture loans —a total of £287,524 15s. 2d. in respect of principal moneys. Housing Account. 62. The sum of £4,196 10s. 4d. was expended during the year in preparing land for dwellings. 63. Mortgages and instalments of principal repaid for the year amounted to £40,134 18s. Bd. 64. The total amount of interest collected was £18,898 3s. 7d. Loans to Employers for Workers' Dwellings Account; Fishing Industry Promotion Account ; Fruit-preserving Industry Advances Account ; Cold Storage Advances Account. 65. Mortgages and instalments of principal repaid for the year in respect of the above accounts amounted to £6,193 3s. Id., and the total amount of interest collected was £5,739 9s. 4d. 66. A statement of each account for the year is attached. Wm. Waddel, Superintendent. State Advances Office, Wellington, 29th June, .1929.