DOMINION NEWS

Grey River Argus, 15 June 1931, Page 7

DOMINION NEWS

(P-er Press Association). AUCKLAND, June 13. Hairdressers in the city have reduced the price of a haircut from eighteen pence to fifteen pence. No reduction has been made in the price of a shave, ninepence, which is declared to be unprofitable now, nor in the price of women’s haircutting. (Per Press Association.) AUCKLAND, June 13. The serious position of the Teachers’ Superannuation Fund was referred to bv Mr F. A. Garry, a member of the Teachers’ Superannuation Board, at a meeting of Auckland members of the New Zealand Federation of Teachers last evening. It was known that the state of the fund had been growing worse within recent years, but members of the board refrained from making the position public. At the last meeting, however, an alarming statement was submitted by the secretary, said Mr Garry. For the first time in the history of the fund the capital had been eaten into to moef commitments. “The state of the fund is going from bad to worse,” he said. “Tf the present position continues, in fifteen years, when the peak of the payments is reached, there will bo no more capital, and the fund will practically cease to exist.”

T'c was decided to set up a commite to investigate the position of the fund and report to a later meeting.