B. —1 [PT. IV

STATE ADVANCES OFFICE —continued. ADVANCES TO WORKERS BRANCH. Statement of Liabilities and Assets as at 31st Maech, 1935. Liabilities. £ s. d. /1 ssets, £ s. d. £ s. d. Sundry loans .. .. ■■ ..12,117,444 10 4 Investment AccountTemporary advances from Settlers Branch .. 2,875,000 0 0 Advances not due ..13,880,427 10 5 Liability to Railway Department (railway Instalments of principal housing) .. .. •• 9.195 0.0 overdue .. .. 328,181 11 1 Advances Suspense Account .. . ■ 7, 195 0 0 Principal owing by Fire Loss Suspense Account .. .. 2,052 15 0 mortgagors . —— — 14,208,609 1 6 Income-tax Suspense 1,036 4 6 Sinking Fund investments held by Advances Sundry creditors .. .. •• 13 3 9 Office Sinking Fund Account .. . . 93,828 311 Weekly rental and instalment collections held Interest on mortgages : £ s. d. pending allocations 120,985 8 2 Overdue .. .. 800,147 6 6 Interest on loans— £ s. d. Accrued .. .. 174,728 5 9 Deferred .. .. 51,704 10 9 — 974,875 12 3 Accrued but not due .. 105,443 12 11 Unregistered Transfers Account (Railway emOverdue on liability to ployees) 9,195 O O Railway Department .. 2,383 13 5 Motor-vehicles .. .. .. 1,469 7 b 159,531 17 1 Sundry debtors .. .. .. .. 66 12 10 Reserve for bad debts .. • • • • 164,930 14 0 Half-yearly instalments postSinking fund 93,828 311 poned— £ s. d 6 Interest .. ~ 578 5 9 Principal .. .. 299 2 1 877 7 10 Securities Protection Suspense Account .. 33,406 16 2 Realization Suspense Account .. .. 6,643 1 9 Loan Charges Account .. .. •• 184,446 8 9 Cash in hand and in bank at 31st March, 1935 37,795 4 4 £15,551,212 16 9 £15,551,212 16 9 Profit and Loss Account fob the Yeae ended 31st Maech, 1935. j) r £ s. d. Cr. £ s - d. To Management Expenses Account .. .. 18,644 18 BBy Interest Account: Gross profits .. .. 94,713 0 0 Loss on realization of securities and doubtful securities written down .. .. 52,830 3 4 Depreciation on motor-vehicles .. .. 552 2 0 Loan-flotation charges written down .. .. 21,649 11 6 Income-tax .. •• •• 1,036 4 6 £94,713 0 0 £94,713 0 0 £ s. d. £ s - To Balance transferred to Reserve for bad debts .. 6,873 10 10 By Income-tax refunded 6,873 10 10 £6,873 10 10 £6,873 10 10 Interest Account foe the Yeae ended 31st Maech, 1935. j) r £ s. d. £ s. d. Cr. £ s. d. £ s. d. To Interest on loans .. 494,491 8 2 By Interest on mortgages .. 597,970 16 3 Less accrued at 31st Interest on mortgages— March, 1934 .. 101,427 19 7 Overdue at 31st March, 393,063 8 7 1935 .. 800,147 6 6 Interest on amounts temporarily transferred Accrued but not due at from Settlers Branch 116,950 0 0 31st March, 1935 .. 174,728 5 9 Interest on railway expenditure (erection of 1,572,846 8 6 dwellings) .. • • • ■ • • -o 0 1 ° , . ■ ' Interest on loans accrued but not due .. 105,443 12 11 Less interest overdue Balance: Gross profits transferred to Profit and accrued at 31st and Loss Account .. .. .. 94,713 0 0 March, 1934 .. 862,832 710 g Interest on bank balances .. • • 87113 Interest on outstanding payments .. .. 323 14 0 £710,425 5 11 £710,425 5 11 Management Expenses Account foe the Yeae ended 31st Maech, 1935. j^ r £ s. d. Cr. £ s * d. To Audit services 225 0 0 By Cost of preparation of mortgages .. .. 23 3 0 leaning, lighting, heating, and messenger ser- q q ■; , Q PnmmissioTi .. •• •• 1,527 17 7 Sundry fees .. .. •• '0 15 0 Exchange on and cost of remittances .. 57 10 4 Balance transferred to Profit and Loss Account 18,644 18 8 Fidelity guarantee bonds .. •. • • 90 0 0 Management charges on New Zealand stock and bonds .. . • ■• • • • • 61' ' ® Motor-vehicle maintenance •• •• 1,000 0 0 Post Office services .. • ■ • • 550 0 0 Postages and telegrams . . • • • • 369 6 7 Printing and stationery .. • • • • 300 0 0 Public Service Superannuation Fund contribution .. • • • • US 0 0 Rent " ' 600 0 0 Salaries " 12,718 0 0 Solicitors' costs and Court costs .. . • 134 1 2 Travelling-expenses .. • • • • 75 0 0 Valuation Department: Agency work .. 350 0 0 £18,954 3 2 £18,954 3 2 G. E. Millee, Superintendent. R. Robeetson, 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, except that the amount of exchange paid in respect of the interest which has been paid m London an the loans of this account has not been charged to the account, but has been borne by the Consolidated Fund.-J. H. Fowlee, Deputy Controller and Auditor-General.

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