C.—9

2

It is again pleasing to place on record the assistance rendered by the various District Land Offices in supplying necessary reports and other information to enable the Board to give the fullest possible consideration to the various matters requiring its attention. The schedules here following show the operations of the Board 011 the various accounts as at the 31st March, 1929. J. B. Thompson, Chairman. Summary of Operations as at 31st March, 1929. Applications for Revaluation. Number of applications for revaluation received . . . . . . .. . . 5,347 Number of cases dealt with and determinations issued by the Dominion Revaluation Board 5,284 Number of cases not dealt with due to forfeiture or abandonment .. . . .. 63 The above result is very satisfactory, as showing so few settlers having to drop out during practically twelve months subsequent to lodging applications. Total capital invested (comprising capital values of Crown leaseholds and advances under £ section 2, Discharged Soldiers Settlement Amendment Act, 1917) .. .. 17,241,736 Capital dealt with by Dominion Revaluation Board .. .. . . 12,528,835 Reduction in capital by Dominion Revaluation Board .. .. .. .. 2,745,244 Reduction in Land and Crown Mortgage Values. £ Reduction in capital value of leaseholds .. .. .. .. .. .. 1,920,562 Reduction in Crown's mortgage (under section 2) . . . . .. . . , . 824,682 Total .. .. .. .. .. .. .. £2,745,244 Private Mortgages and Debts. Mortgages and debts of various descriptions owing by soldier settlers to persons other £ than the Crown .. .. .. .. .. .. .. .. 164,365 Reduction obtained in the above by efforts of Dominion Board .. .. .. 123,409 Percentage of reduction to original debt .. .. .. . . . . . . 75 per cent. Private Mortgages and Debts purchased. £ Original value of mortgages and debts purchased by the Crown .. .. .. 71,761 Price paid by Crown after negotiation . . . . . . . . . . . . 33,936 Discount obtained and which is credited to settlers.. .. . . .. . . 29,560 Percentage of discount .. .. . . .. .. .. .. . . 41 per cent. The difference represents the amount paid by the settlers themselves to successfully complete the negotiations. Remission of Instalment Interest and Rent. £ Granted by Dominion Revaluation Board in respect of arrears at 30th June, 1923 . . 186,193 Granted by Land Boards on recommendation of Dominion Revaluation Board with respect to payments accruing subsequent to 30th June, 1923 . . . . .. .. 241,840 Total remissions .. .. .. .. .. .. £428,033 Mortgage instalments, rents, &c., automatically written off, due to reduction being retrospective to Ist July, 1921, or date of title, &c. .. ~ .. .. £434,046 Postponements of Arrears as at 30th June, 1923, granted by Dominion Revaluation Board. £ Rent, principal, and instalment interest for periods up to ten years .. .. .. 318,930 Instalments to end of mortgage term .. .. .. .. .. .. 127,303 Total postponements granted by Dominion Revaluation Board . . £446,233 Postponements of payments accruing subsequent to 30th June, 1923, granted by Land Boards on recommendation of Dominion Revaluation Board .. .. .. £148,477 An extended schedule gives particulars for each land district under all headings. Investigation of Current Accounts under the Discharged Soldiers Settlement Amendment Act, 1924. Number of accounts subject to investigation (approximate) .. .. .. .. 4,915 Current Accounts sustained .. . . .. .. .. .. . . 3,968 Reductions in Current Accounts (in some of these cases transfers were also made to Suspense Account) . . .. . . .. .. .. . . . . . . 863 Transfers to Suspense Account (apart from those cases where reductions were also made) 84 4,915