WAR FUNDS

Evening Star, Issue 19019, 14 August 1925, Page 11

WAR FUNDS

WHERE THE HONEY IS HELD MAHY LOANS WBITTEH OFF [Fho« Ora Paeuamenxaet EEPonxtn.] WELLINGTON, August 18. In furtherance of the policy which has been maintained since shortly after the conclusion of the war four patriotic societies were closed by transfer of funds to provincial centres; closed by disbursement of funds, and two funds are being returned. The Soldiers’ Club building funds were brought within the provisions of the Act. It is hoped to make further progress in carrying out the policy of amalgamation of smaller funds with provincial centres, which will eventually enable a unifora basis for the administration of relief and assistance to bo formulated. Excluding funds held by the National War Funds Council the sum of £1,238,180, as shown by the latest returns, is held by the eighty-four societies operating under the provisions of the Act—thirty-three incorporated societies £947,177, eleven Reel Cross organisations £184,790, three blind soldiers’ or veterans’ homes fund £89,603, sixteen administering societies £5,472, five memorial funds £5,292, two Navy League funds £5,756, ten returned soldiers’ clubs and building funds £47,896, four social funds £2,171; total, £1,238,160. Although the funds held by various incorporated > societies and the Red Cross organisations are a relatively large sum, if should be noted that a large proportion of the assets are represented by loans to soldiers, disabled soldiers’ homes (Red Cross), farm property (sheep owners’ fund), and other fixed assets. Through soldiers breaking down in health, having bad luck, or through their reduced ability it will be easily understood that a proportion of the loans will eventually require to he written off.