CANTEEN FUNDS

Bay of Plenty Times, Volume LX, Issue 11046, 21 February 1933, Page 3

CANTEEN FUNDS

TRUST BOARD REVIEWS YEAR’S ACTIVITIES. The annual meeting of the N.Z. E.F. Canteen and Regimental Trust Board was held at Wellington recently. The balance sheet showed the total funds at February 1, 1933, to be £198,214 16s 3d, of which £133,071 was invested at an average interest rate of 5 per cent. During the past year grants 1 totalling £13,000 were made through the N.Z. Returned Soldiers’ Association for relief of distress caused by unemployment among returned, soldiers, making a total to date of £40,685 expended frw;-this purpose, and this relief is to be continued In grants of £ISOO per month. A grant of £IOOO was made during last year to the Trentham Scholarship Fund toward the education of children of deceased and disabled soldiers, and the board has approved of a final grant of £SOO for the current year, making a grand total of £12,979 10s for this purpose. Other compassionate grants totalling £47 12s were made to cases which could not he assisted from other relief funds.

The relief expenditure during the yeaf exceeded the interest earnings by £4449 14s 2d, thus reducing the capital funds by that amount. Having in mind the funds which are still available for relief purposes) in the hands of the various patriotic associations throughout the Dominion, (he Canteen Board reaffirmed its policy of preserving its funds as far as possible for future relief when these other funds become exhausted in the near future, as experience of previous Avars has shown the necessity of such a fund many years after the war is over.

In view, however, of the pressing needs of unemployed men under the present economic conditions, the board felt bound to do its utmost to meet the circumstances by continuing its grants of £ISOO per month (£IB,OOO per annum) for distribution through the headquarters executive of the N.Z. Returned Soldiers’ Association in the relief of distress caused by unemployment. In connection therewith the following resolution was passed by the board at, its meetflig;— “That the New Zealand Returned Soldiers’ Association be informed that the board does not approve of any part of the allocations made, funder its grants being used for. the payment of administrative expenses, dr for subsidising clubs, medical or otherwise. The board reaffirms its desire and intention that the grants should be made available to all exN.Z.E.F. returned men irrespective of whether they are members of the Returned Soldiers’ Association or not.

“The reason actuating the board in its decision to make these grants through the medium of the New Zealand Returned Soldiers’ Association was the fact that that body is the recognised representative organisation of returned soldiers with branches in all parts of the Dominion which are In touch with, and have local knowledge of, the cases in their respective districts, and as a general rule are working in co-op-eration with local bodies and other organisations in the matter of relieving unemployment. “The board feels confident that the letter and spirit of its intentions will be faithfully observed by the New Zealand Returned Soldiers’ Association.”