CANTEEN TRUST FUND

Otago Daily Times, Issue 22504, 23 February 1935, Page 14

CANTEEN TRUST FUND

ANNUAL BALANCE SHEET GRANTS TO BE CONTINUED (Per United Press Association) WELLINGTON, February 22. The annual balance sheet of the New Zealand Expeditionary Force Canteen and Regimental Funds Trust Board was produced at a meeting of the board and disclosed total funds amounting to £179,080, a reduction 0f_£9758 compared with'the previous year." The income for the year was £8355 and the expenditure £18,175, including £18,006 by way of grants for the relief of distress among returned soliders. During the last four years the capital of the fund had been reduced by £29,672.

The annual report stated: With -the statutory reduction in interest rates, the continuation of relief grants at the present rates will mean the extinction of the fund in approximately 10 years’ time, a fact which is causing the board some concern.

Reports from various Returned Soldiers’ Association centres received by the board indicated generally, that notwith standing a slightly improved economic position, there had been no material reduction in the numbers of unemployed returned soldiers and the future prospects were not bright/ The bpard continue its grants at the present rate of £ISOO per month and in so doing expressed the i desire to strike an even balance between the present and future needs of returned soldiers.