8.—13 a

MORTGAGE CORPORATION OF NEW ZEALAND. Revenue Accounts foe the Eight Months ended 31st March, 1936. Interest Account. £ s * d- £ s. d. Interest on stock and debentures .. .. 673,382 11 9 Interest on mortgages .. .. .. 1,155,297 13 10 Gross income carried forward to Profit and Loss Interest on Government and £ s. d. Account .. .. .. .. 491,878 11 2 local-body securities .. 83,656 10 6 Less transferred to General Reserve Fund .. 82,909 16 7 746 13 11 Interest on current accounts, temporary investments, and sundries .. .. .. 9,216 15 2 £1,165,261 2 11 £1,165,261 2 11 Profit and Loss Account. £ s. d. £ s . d. Management expenses .. .. .. 72,921 14 7 Gross income brought forward from Interest Contribution to Staff Superannuation Fund .. 15,000 0 0 Account .. .. .. .. .. 491 878 11 2 Reserve for losses .. .. .. .. 5,000 0 0 Discount on redemption of stock .. .. 39 10 4 Contingent Liability Account —Amount transferred under section 3, Mortgage Corporation of New Zealand Amendment Act, 1935 .. 57,000 0 0 Net income carried forward to Appropriation Account .. .. .. .. 341,996 611 £491,918 1 6 £491,918 1 6 Appropriation Account. £ s. d. £ s. d. Income-tax Reserve .. .. .. 105,000 0 0 Net income.. .. .. .. .. 341,996 6 11 Dividends Reserve .. .. .. .. 9,000 0 0 Investment Fluctuation Reserve .. .. 10,000 0 0 Balance payable to the Crown .. .. 217,996 6 11 £341,996 6 11 £341,996 6 11 Balance-sheet as at 31st March, 1936. Liabilities. Assets. £ s. d. Share capital— £ s. d. £ s. d. Mortgages and accrued interest .. .. 39,062,498 5 10 Authorized capital .. 1,000,000 0 0 Advances on Current Account and accrued Less uncalled .. .. 750,000 0 0 interest .. .. .. 12,742 510 Government and local-body securities and Capital paid up .. .. 250,000 0 0 accrued interest .. .. .. 3,038,227 5 4 Calls paid in advance .. 171,644 12 6 Pixed assets, at cost, less provision for deprecia421,644 12 6 tion—Office furniture and motor-vehicles .. 10,351 17 8 Stock and debentures and Current assets — £ s. d. accrued interest .. .. 30,600,004 13 5 Sundry debtors .. .. 5,182 18 4 Contingent liability to the Pixed deposits with trading Crown .. .. .. 8,927,521 11 8 banks and accrued interest 954,187 17 0 Reserves— Lodgments in transit and General Reserve ..2,956,472 16 5 cash in bank and on hand.. 75,102 4 6 Reserves for losses on in- j Q34 472 19 10 vestments .. .. 5,000 0 0 Realization Suspense Account—Losses chargeInvestment Fluctuation able to Contingent Liability Account when Reserve .. .. 10,000 0 0 defined .. .. .. .. 59 697 13 8 2,971,472 16 5 Staff Superannuation Fund.. .. 25,392 18 11 Sundry creditors .. .. .. 122,136 6 4 Liability to the Crown— Balance of net income .. 217,996 611 Less interim payment .. 75,000 0 0 142,996 6 11 Balance of interest on contribution to General Reserve .. .. 6,821 2 0 149,817 8 11 £43,217,990 8 2 £43,217,990 8 2 A. D. Park, F.R.A.N.Z., F.1.A.N.Z.l Joint T. N. Smallwood, J Directors! K. Caverhill, A.R.A.N.Z., Chief Accountant. In accordance with the provisions of the Mortgage Corporation Act, 1934-35, we report that we have obtained all the information and explanations we have required in respect of the accounts of the Corporation examined by us, and in 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. L. H. Heslop, Public Accountant, Government Auditor. Wellington, 9th June, 1936. R. C. Burgess, Public Accountant, Shareholders' Auditor. Approximate Cost of Paper.—Preparation, not given ; printing (574 copies), £11.

By Authority: G. H. Loney, Government Printer, Wellington.—l 936.

Price 6d."\

11