QUAKE FUNDS

Grey River Argus, 15 June 1931, Page 3

QUAKE FUNDS

£2,000,000 COMMITMENTS. £376.330 RECEIPTS. WELLINGTON, June 13. Various matters of policy in connection with the administration of the . Hawke’s Bay Earthquake Relief Fund] were considered at a meeting of the Sub-Committee of the Central Committee of the Fund. Relieving the work of the meeting, the Prime Minister stated to-day that the Committee had confirmed the existing arrangement whereby, in the meantime, all assistance for the rehabilitation of the houses affected bv the earthquake is by way of loan, withoui interest, the loans being repayable by monthly instalments over a period not exceeding twelve months. Financial assistance of this nature was also extended by the Committee to those persons who paid for their own repairs, and to persons who were tradesmen and carried out their own work. A report on the financial position of the fund shows the gross receipts to be £376,236, whilst payments and commitments against the fund amount to considerably over £2,000,000. Claims still to be received, however, will amount f.o a very large sum, and it is certain that the whole of the amount in hand will be required to meet the heavy demands that are likely to be made. Notification is tn be made that all claims must be submitted before July 31. It was decided to request those in charge of funds not under the control of the Central Committee to nay over any unexpended balances to the credit of the central fund, where they will immediately earn interest at 5-1 per cent. Tn. the event of fa’lure to comply 't is proposed to bring down regulations requiring thp payment of such funds to the central fund.