8.—13,

6

STATE ADVANCES OFFICE. ADVANCES TO SETTLERS BRANCH. Statement op Liabilities and Assets as at 31st March, 1929. Liabilities. £ s. d. Assets. £ s. d. Sundry loans .. .. .. .. 20,321,690 3 5 Investment Account — Principal owing by Temporary advances from— mortgagors .. .. .. .. 16,742,324 10 8 Public Debt Sinking Funds £ s. d. Temporary investments .. .. .. 1,578,910 0 0 Branch .. .. 16,000 0 0 Temporary advances to — £ s. d. Advances Office Sinking Workers Branch .. 1,533,000 0 0 Fund Account .. 191,000 0 0 Local Authorities Branch 110,000 0 0 Miscellaneous Business Rural Advances Branch 391,000 0 0 Branch .. .. 311,850 0 0 2,034,000 0 0 518,850 0 0 Sinking Fund investments held by Advances Amount held for investment on behalf of the Office Sinking Fund Account .. . . 1,539,272 14 2 Housing Insurance Fund . . . . 4,612 0 5 Interest on mortgages £ s. d. Advances Suspense Account .. .. 18,290 0 0 Overdue .. .. 164,340 12 3 Fire Loss Suspense Account .. .. 14,455 15 0 Accrued .. .. 213,498 4 5 Suspense Account .. .. 307 0 11 377,838 16 8 Income-tax Suspense Account .. .. 5,201 18 0 Interest on temporary investments accrued .. 2,350 18 11 Sundry creditors .. .. .. .. 2,101 1 5 Office furniture and equipment .. .. 6,130 2 6 Interest on loans accrued but not due .. 169,034 2 0 Sundry debtors .. .. .. .. 1,424 16 7 Reserve for bad debts .. .. 109,610 310 Realization Suspense Account .. .. 125,998 0 3 Sinking Fund .. .. .. .. 1,539,272 14 2 Loan Charges Account .. .. .. 180,499 13 4 Reserve Fund .. .. .. 25,000 0 0 Cash in hand and in bank at 31st March, 1929 139,675 6 1 £22,728,424 19 2 £22,728,424 19 2 Profit and Loss Account for the Year ended 31st March, 1929. Dr. £ S. d. Gr. £ s. d. To Management Expenses Account .. .. 32,519 5 8 By Interest Account—Gross profits .. .. 121,500 4 9 Loss on realization of securities and doubtful securities written down .. .. .. 58,193 0 10 Office furniture and equipment written down 322 12 9 Balance —Net profits for the year .. .. 30,465 5 6 £121,500 4 9 £121,500 4 9 £ s. d. £ s. d. To Loan-flotation charges written down .. 12,430 5 2 By Net profits for the year .. .. .. 30,465 5 6 Income-tax .. .. .. .. 5,201 18 0 Balance of net profits invested in Advances Office Sinking Fund Account .. .. 12,833 2 4 £30,465 5 6 £30,465 5 6 Interest Account for the Year ended 31st March, 1929. Dr. £ s. d. £ s. d. Gr. £ s . d. £ s. d. To Interest on loans .. .. 864,616 11 9 By Interest on mortgages .. 909,741 18 8 Less accrued at 31st March, Less overdue and accrued 1928 .. .. 167,661 7 7 at 31st March, 1928 385,285 4 5 696,955 4 2 — 524,456 14 3 Interest on loans accrued but not due .. 169,034 2 0 Interest on outstanding payments .. 48 15 7 Interest on amounts temporarily trans- Interest on bank balances .. . . 1,10118 4 ferredfrom other branches .. .. 52,803 15 10 Interest on temporary advances to other Balance —Gross profits transferred to Profit branches . . .. .. .. 125,450 16 10 and Loss Account .. .. .. 121,500 4 9 Interest on temporary invest- £ s. d. ments .. .. 9,082 511 Less accrued at 31st March, 1928 .. 36 19 9 — 9,045 6 2 Interest on temporary investments accrued at 31st March, 1929 .. .. .. 2,350 18 11 Interest on mortgages — £ s. d. Overdue at 31st March, 1929 .. .. 164,340 12 3 Accrued but not due at 31st March, 1929.. ..213,498 4 5 377,838 16 8 £1,040,293 6 9 £1,040,293 6 9