8.—13.

STATE ADVANCES OFFICE. ADVANCES TO SETTLERS BRANCH. Statement of Liabilities and Assets as at 31st March, 1935. Liabilities. £ s. d. Assets. £ s. d. £ s. d. Sundry loans .. .. .. .. 19,586,820 8 5 Investment Account— Temporary advances from— £ s. d. Advances not due .. 15,855,757 1 5 Public Debt Sinking Funds Instalments of principal Branch .. .. 150,000 0 0 overdue .. .. 415,164 18 1 Advances Office Sinking Principal owing by Fund Account .. 1,260,000 0 0 mortgagors .. 16,270,921 19 6 — 1,410,000 0 0 Advances on current account .. 11,684 0 2 Amount held for investment on behalf of the Properties acquired .. .. 2,722 3 0 Housing Insurance Fund .. .. . . 7,844 7 4 Temporary investments .. .. 325,000 0 0 Advances Suspense Account .. . . 6, 859 1 8 Temporary advances to— Fire Loss Suspense Account .. .. .. 11,750 16 8 Workers Branch .. 2,875,000 0 0 Sundry creditors .. .. .. .. 2,711 16 8 Rural Advances Branch.. 695,000 0 0 Weekly rental and instalment collections held Local Authorities Branch 285,000 0 0 pending allocation .. .. .. 84,759 19 6 3,855,000 0 0 Income-tax Suspense Account .. .. 7,702 17 11 Sinking Fund Investments held by Advances Interest on loans— £ s. d Office Sinking Fund Account .. .. 2,076,620 14 5 Deferred .. .. 277,613 12 10 Interest on mortgages — £ s. d. Overdue .. .. 11,872 17 1 Overdue .. .. 727,010 8 5 Accrued but not due .. 139,369 1 8 Accrued .. .. 200,293 13 6 ■ 428,855 II 7 927,304 1 11 Reserve for bad debts .. .. .. 285,310 0 2 Interest on temporary investments accrued .. 1,175 7 5 Sinking Fund .. .. .. .. 2,076,620 14 5 Office furniture and equipment .. .. 7,174 11 8 Reserve Fund .. .. .. .. 25,000 0 0 Motor-vehicles .. .. .. .. 649 4 10 Sundry debtors .. .. .. .. 717 14 7 Half-yearly instalments postponed— £ s. d. Interest .. .. 27,216 17 6 Principal .. .. 14,769 0 3 41,985 17 9 Securities Protection Suspense Account .. 5,080 9 2 Lodgment Transit Account .. .. 8,113 3 2 Realization Suspense Account .. .. 163,273 13 7 Loan Charges Account .. .. .. 159,549 18 9 Cash in hand and in bank at 31st March, 1935.. 77,262 14 5 £23,934,235 14 4 £23,934,235 14 4 Profit and Loss Account for the Year ended 31st March, 1935. Dr. £ s. d. Cr. £ s. d. To Management Expenses Account .. .. 39,100 14 3 By Interest Account: Gross profits .. .. 97,421 11 1 Loss on realization of securities, and doubtful Profit on sale of motor-vehicle .. .. 9 115 securities written down .. .. .. 29,021 18 9 Net revenue on properties acquired .. .. 37 3 5 Depreciation on— £ s. d. Furniture and equipment 377 12 2 Motor-vehicles .. .. 175 2 8 552 14 10 Income-tax .. .. .. .. 7,702 17 11 Loan-flotation charges written down .. 21,090 0 2 £97,468 5 11 £97,468 5 11 £ s. d. £ s. d. To Balance transferred to Reserve for bad debts .. 7,631 910 By Income-tax refunded .. .. .. 7,631 910 £7,631 9 10 £7,631 9 10 Interest Account for the Year ended 31st March, 1935. Dr. £ s. d. £ s. d. Gr. £ s. d. £ s. d. To Interest on loans .. .. 834,061 411 By Interest on mortgages .. 848,437 17 10 Less accrued at 31st March, Interest on mortgages— 1934.. .. .. 157,148 5 1 Overdue at 31st March, 676,912 19 10 1935 .. .. 727,010 8 5 Interest on loans accrued but not due .. 139,369 1 8 Accrued but not due at 31st Interest on amounts temporarily transferred March, 1935 .. .. 200,293 13 6 from other branches .. .. 56,718 1 1 Balance: Gross profits transferred to Profit 1,775,741 19 9 and Loss Account .. .. .. 97,421 II 1 Less overdue and accrued at 31st March, 1934 .. 966,609 12 10 809,132 6 11 Interest on Current Account advances .. .. .. 355 0 5 Interest on temporary investments .. .. 15,912 13 8 Less accrued at 31st March, 1934 .. 1,175 7 5 14,737 6 3 Interest on outstanding payments .. .. 138 6 0 Interest on temporary advances to other branches .. .. .. .. 144,883 6 8 Interest on temporary investments (accrued) .. 1,175 7 5 £970,421 13 8 £970,421 13 8

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