B—l3

The loan authorizations for 1949 included above are classified hereunder to indicate the nature and purpose of the loans—i.e., whether on, or in excess of, the normal twothirds lending basis, for purchase or erection, or for the refinancing of existing mortgage liabilities :

Mortgage Authorizations for Year Ended 31st March, 1949, Classified Under Purpose

Note.—Special loans are those granted in excess of the normal two-thirds basis. It will be noted that of the total number of residential loans authorized in 1949 over 46 per cent, were for the erection of new dwellings. New loan accounts opened during the year totalled 16,623, whilst 6,612 were repaid in the same period. The total number of loan accounts under all headings being administered at 31st March, 1949, is given in the following table : Number of loan accounts as at 31st March, 1948 .. .. 88,779 Less repaid during the year .. .. .. 6,612 82,167 Add new loan accounts opened during the year .. .. .. •■• •• 16,623 Number of loan accounts as at 31st March, 1949 . . .. 98,790 representing a net increase of 10,011. The whole picture is not clear without a reference to the very large number of rental accounts under administration by the Corporation. The total as at the 31st of March, 1949, exceeded 30,000 accounts, and a table is included to illustrate how the number of accounts and value of assets under administration since the Corporation was first constituted have grown over the intervening years.

5

Farms. [Residential. Purpose. Civilian. Rehabilitation. Civilian. Rehabilitation. Number. Amount. Number. Amount. Number. Amount. Number. Amount. Erection— 66$ Special £ £ | 83 161 £ 91,835 218,180 *2,355 £ 3,158^853 Purchase— 66} ■■ Special 41 3 77,640 8,820 934 4,239,220 107 128 82,755 136,980 2 588 2,418^412 Refinance— 66f Special 13 1 38,110 6,635 14 57,595 23 11 20,555 12,285 30 29,405 Other Purposes— 66f Special 10 60,580 3,650 i5 70,900 10 3 41,230 9,505 91 30,388 Supplementary (interest free) (14) 4,490 (2,536) 391,971 Totals 68 195,435 963 4,372,205 526 613,325 5,064 6,029,029