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STATE ADVANCES CORPORATION OF NEW ZEALAND. Revenue Accounts foe the Year ended 31st March, 1937. Interest Account. Interest on stock and debentures .. 1,107,990 15 4 Interest on mortgages, current * S ' d * f S- d * Gro=s mcome carried forward to Profit and Loss accounts, aid local-body Account 747,206 9 0 securities .. .. 1,977,450 12 0 Less transferred to General Reserve Fund .. 128,291 8 4 T , ' , 1,849,165 3 8 Interest on temporary investments and sundries 6,032 I 2 £1,855,197 4 10 £1,855,197 4 10 Profit and Loss Account. £ s. d. x . , n ■ i * s « d. A/T i. / ii • i vxross mcome brought forward from lntprp«jt Management expenses (all inclusive) .. .. 129,881 19 1 Account.. 7,179,™ o «• Reserve for losses 10,000 0 0 Sundries .. .. 't, 7 Contingent Liability Account—Amount transferred ' " "" -017 under section 3, State Advances Corporation Amendment Act, 1935 .. .. . . 72 goo y y Net income carried forward to Appropriation Account.. .. .. .. , _ 534,849 12 0 £747,231 11 1 £747,231 11 1 Appropriation Account. Dividends •• 4,558 l' 'l Net income .. .. 554 84Q h asisteas. :: :: a: : :: "SI? S Surplus, including income-tax provision available for distribution to the Crown .. .. 467,020 3 1 £549,598 4 2 £549,598 4 2 Balance-sheet as at 31st March, 1937. Liabilities. d Asgets _ Authorized capital .. 5 '.i ,000,000 0 0 Mortgages and accrued interest 50 859 861 fi !o Stock and debentures ..39,774,500 0 0 Securities in course of realiza- oU, 85 J, 861 510 Accrued interest .. .. 241,975 6 4 _ tion 335,038 9 2 n .. ... , .... , .. _ " 40,016,475 6 4 Realization Suspense Account Contingent liability to the Crown .. .. 11,715,730 5 9 (losses chargeable to Contineserves gent Liability Account when on in- " «.656 11 4 Investment' Fluctuation ° ° Advances on Current Account and accrued in- ° " Reserve 30 000 0 0 r< + a i ii, / * * "' 1?409,808 710 du > uuu u u . Government and local-body securities and acc j ~~~ 3,299,300 11 4 crued interest .. .. q oqn n7 Q iq o Sundry creditors 28,676 3 9 Fixed assets-At cost, less provision for depre- 0 ' 079 13 2 *tss£szzs&. ..... . •'» 529,276 4 1 cash in bank and on hand 656,450 13 10 661,437 0 9 £56,589,458 11 J5 £56,589,458 11 3 R. Robertson, Chief Accountant. A. D. Park, F.1.A.N.Z., F.R.A.N.Z.,1 „ . T. N. Smallwood, jJ- Managing Directors. Auditors' Report. In accordance with the provisions of the State Advances Corporation Acts we report that we have obtained all the information and explanations we have required in respect of the accounts of the Corporation examined b y us and m respect of the above Balance-sheet, and that in our opinion such Balance-sheet is properly drawn up so as to exhibit a true and correct view of the state of the Corporation's affairs according to the best of our information and the explanations given to us, and as shown by the books of the Corporation. Wall; ,rf in+i t i ioq<7 Heslof, Public Accountant. Wellington, lbth July, 1937. R. C. Burgess, Public Accountant.

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