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In the following table is shown the total number of loan accounts under all headings being administered at 31st March, 1947, with the number of loans repaid and new accounts opened during the year, the resulting balance being the number under administration as at 31st March, 1948 Number of loan accounts as at 31st March, 1947 .. .. 80,245 Less repaid during the year .. .. .. 8,237 72,008 Add new loan accounts opened during the year .. .. 16,771 Number of loans accounts as at 31st March, 1948 .. .. 88,779 We also place on record herewith the details of investments and other assets (including the Housing Account assets referred to later in this report) being administered by the Corporation at the end of the year : Assets Administered by Corporation Number of Principal Accounts. Investment. Mortgage investments— £ Urban .. ... .. .. .. 40,780 31,395,829 Rural .. .. .. .. .. 19,307 31,109,415 Loans to local authorities .. .. .. 1,600 4,407,066 Housing Account — Dwellings let .. .. .. .. 25,721 37,985,322 Dwellings sold .. .. .. .. 189 105,800 Loans to local authorities .. .. .. 91 974,052 Loans to employers .. .. .. 6 15,195 Rural Housing Act: Loans to local authorities .. 41 134,376 Advances under Rehabilitation Act, 1941 Furniture, tools of trade, business, and miscellaneous .. .. .. .. 26,946 3,224,270 Interest-free supplementary loans .. .. .. 1,291,345 Other principal agencies— Agriculture Emergency Powers Act, 1934 .. 8 22,179 Farmers' Loans Emergency Regulations 1940 .. 172 64,834 Public Works Department hutments rented to farmers .. .. .. .. 281 65,317 Rural Housing Emergency Scheme, 1944 .. 259 28,057 Total .. .. 115,401 £110,823,057 It will be noted that, for the first time in the history of the Corporation, the total capital investment in respect of mortgages and other accounts under administration is in excess of £110,000,000, and there seems to be little question but that the Corporation is the largest institution of its type in the British Commonwealth, and it will play an ever-increasing part in the economic structure of the Dominion. Its responsibilities are correspondingly great and may be classed as twofold —firstly, it is responsible to the Government for the administration and control of assets which represent very substantial public funds, and, secondly, it has a responsibility to its borrowers and other clients who look to a national institution such as the Corporation for a measure of advice and guidance not only in the matter of their initial borrowing project, but also in their day-to-day problems of finance while they continue to be clients of the institution.

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