THE KAITANGATA BELIEF FUND.

Evening Star, Issue 9965, 27 March 1896, Page 2

THE KAITANGATA BELIEF FUND.

Mr F. H. Morice, the district agent for Otago for the Public Trust Office and secretary to the Kaitangata Relief Fund Board, supplies us with the following facts concerning the position of the Kaitangata relief fund : At the 31st March, 1895, the fund was set forth in the balance-sheet as follows :

Total ... £9,96015 7 With reference to mortgage No. 1, it should be explained that since the 31st March last the amount has been paid off.: The rate of interest was 7 per cent. From the time the money was paid off it has probably been earning interest at. from 4to 5 per cent; No. 2 mortgage is in default; but interest at- 6J per cent, has been paid up to the 31st December, 1895. No. 3 is an Invercargill mortgage at 6 per cent. No. 4, although shown as ■' in default," is brineing in a rental of £9O per annum. No. 5, also in default, has been realised at £270. The next item, "Invested in common fund of Public 'Trust Office," is probably correct; the head office handles the money, also the £2,000 paid off on mortgage No. 1. The estimated income from the investments for the year ending 31st March next is about £546, but owing to the difficulty in obtaining re-investments for moneys and the low ratesut cannot at the present time be stated definitely., There are twenty-one beneficiaries receiving weekly allowances from the fund for themselves and their children. The allowances are in excess of the income, so that a portion of the capital will "have to be used to make up the difference'. The expenditure for the year ended March 31,1895, was £847 9s 4d, and for the year ending on the 31st March next the amount of the allowances will be somewhat higher. In the income-for last year (ended 31st March, 1895) it should be noted that the balance from the previous year showed a credit of £282, and this is included in income.

The Mayor of Dunedin has convened a meeting of citizens in the Council Chambers on Monday afternoon, to- consider what measures should be devised for the relief of those left unprovided for by the catastrophe.

Mortgage No. 1 £2,000 0 0 No. 2 4,375 0 0 No. 3 550, 0 0 „ No. 4(in default)... 1,600 0 0 „ No. 5 (in default)... 350 0 0 Invested in common fund of Public Trust Office' 1,000 0 0 Balance in hand ... 85 15 7