8.—13

HOUSING ACCOUNT —continued. Factories and Plant Capital Account as at 31st March, 1939. Factories. £s. d. £ s. d. £ s. d. J . , 8 ' ( '" Auckland .. 13,467 8 2 Balance .. .. .. •• •• 44,931 18 4 Less depreciation 668 16 4 12,798 11 10 Wellington .. 15,103 15 4 Less depreciation 750 3 9 14,353 11 7 27,152 3 5 Plant— Auckland .. 10,115 8 1 Less depreciation 1,011 10 10 9,103 17 3 Wellington .. . 9,639 17 5 Less depreciation 963 19 9 8,675 17 8 17,779 14 11 _ £44,931 18 4 £44,931 18 4 £ s. d. Balance .. .. .. .. •• 44,931 18 4

Construction Branch : Construction Expenses Account as at 31st March, 1939. £ s. d. £ s - d. Interest during construction .. .. 14,871 14 3 Transfer to factories a,nd plant— Interest on land purchased .. .. 6,210 12 9 Capital Account (31st March, 1937) .. ■ Advertising 1,642 10 11 Balance 163,966 8 5 Audit fees .. .. • • ■ • • • 1 > 00® 0 0 Depreciation (furniture and motor-cars) .. 804 2 5 Light, heating, and cleaning . . .. • • 940 4 8 Plans and schedules .. .. ■■ 15,512 4 11 Quantity surveying .. .. •• •• 1,378 12 1 Valuation fees .. .. • ■ • • 229 14 0 Postages and telegrams .. .. ■ ■ 884 13 1 Printing and stationery .. •• 3,048 13 11 Office maintenance .. .. .. • ■ 649 9 7 Motor-vehicle maintenance .. .. • • 1 > 027 14 6 Pent 3,462 18 5 Salaries .. . • • • ■ • .. 90, 820 4 3 Telephones .. .. •• •• •• 78757 Travelling-expenses .. .. . • .. 7,010 8 3 Workers' compensation insurance .. .. 1,407 19 0 Administration costs pavable to State Advances Corporation .. .. •• •• 12,447 12 10 Contingencies .. .. • • • • 575 13 0 £164,712 8 5 £164,712 8 5 £ s. d. Balance .. .. •• •• •• 163,966 8 o

Revenue Account fob Year ended 31st March, 1939. Dr £ s. a. Gr. £ S. d. £ s. d. Interest on'loan liability 69,590 15 10 Interest and rentals on investments 151,730 8 4 Gross profit, transferred to Profit and Loss Account 13,501 2 5 Less reserves for depreciation, r maintenance, rates, vacant tenancies, and insurance .. 84,563 15 7 67,166 12 9 Interest capitalized— Land .. .. • • 4,648 0 0 Dwellings in course of erection .. 10,665 0 0 Preliminary expenses .. .. 23 0 0 15,336 0 0 Factory and Plant Revenue Account .. .. 589 5 6 £83,091 18 3 £83,091 18 3

3—B. 13.

17