B.—l [PT. IV].

STATE ADVANCES OFFICE. ADVANCES TO SETTLERS BRANCH. Statement op Liabilities and Assets as at 31st March, 1936. Liabilities. £ S. d. Assets. s ' d ' Sunrlrv loans 19,344,170 3 1 Investment Account: Advances not due .. 13,030 0 0 Amount held for investment on behalf of the Mortgage Corporation Stock issued m accordance Housing Insurance Fund .. .. 8,079 13 11 with section 38 () of the Mortgage Cor PO- - SusDense Account . . 750 0 0 ration of New Zealand Act, 1934-35 .. 17,092,425 0 0 Sundrv creditors •• 2,089 16 9 Contingent liability of Mortgage Corporation Interest on loans - " £ s. d. under section 38 (2) of the Mortgage CorpoDeferred .. .. 356,931 16 6 ration of New Zealand Act, 1934-35 .. 2,027,684 2 - Overdue .. .. 53,654 510 Properties acquired ,00 000 0 0 Accrued 135,150 19 5 Temporary investment . . .. •• 300,000 V 0 545,737 I 9 Interest on mortgages accrued . . . . by 14 a Rpsprve fnr bad debts .. •• •• 235,663 16 2 Interest on temporary investment accrued 1,849 6 3 t,tfiinH 25,000 0 0 Interest on Mortgage Corporation stock accrued SS :: :: .. m»:™» . _***>*. .. .. » Balance of profits of Mortgage Corporation for the year ended 31st March, 1936, payable in accordance with section 42 of the Mortgage Corporation of New Zealand Act, 1934—35 .. 52,868 2 0 Lodgment in Transit Account . . • • 453 9 1 Reafization Suspense Account .. .. 59,606 19 2 Loan Charges Account .. .. •• 232,93083 Profit and Loss Aocount .. .. •• 110,580 17 4 Cash in hand and in bank at 31st March, 1936 174,646 7 3 Sinking Fund Investments held by Advances Office Sinking Fund .. ■■ •• 2,088,114 13 5 £22,249,605 5 1 £22,249,605 5 1 Profit and Loss Account for the Year ended 31st March, 1936. Dr £ s - d - Gr - , £ s ' d " Interest Account: Gross loss for the year .. 152,986 19 11 Profits from Mortgage Corporation of New Zealand sssssesrr - :: s :: :: .SB I SSSXttSZ :: :: " ■■■•■!!'■ Loan flotation charges written down .. .. 25,951 10 7 £197,807 16 II £197,807 16 11 , ====== £ s - d- £ s. d. Income-tax reserve .. .. ~ •• 6,613 2 3 Loss for the year 117,193 19 7 Balance 110 ' 58 ° 17 4 £117,193 19 7 £117,193 19 7 Balance "10,580 17 4 Interest Account for the Year ended 31st March, 1936. Dr £ s. d. £ s. d. Or. £ s. d. £ s. d. Interest on loans .. ..752,635 16 9 Interest on mortgages ..1,175,009 1 1 Less accrued at 31st March, 1935 139,369 1 8 Interest on mortgages: 613,266 15 1 Accrued but not due at Interest on loans overdue and accrued . . .. 176,685 14 1 31st March, 1936 .. 69 14 3 Interest on Housing Insurance Fund .... 235 6 7 Less overdue and accrued at 31st March, 1935 .. 927,304 111 247,774 13 5 Interest on Mortgage Corporation stock .. •• 286,875 0 0 Accrued but not due at 31st March, 1936 .. .. 91,666 18 2 378,541 18 2 Interest on temporary investments .. .. ■■ 11,151 2 6 Accrued but not due at 31st March, 1936 .. .. 733 11 3 11,884 13 9 Less accrued at 31st March, 1935 .. 1,175 7 5 10,709 6 4 Interest on current account advances . . . . 148 15 1 Interest on outstanding payments .. .. 26 2 10 Balance : Gross loss transferred to Profit and Loss Aocount .. .. •• •• 152,986 19 11 £790,187 15 9 £790,187 15 9

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