CANTEEN FUNDS IN TRUST

Taranaki Daily News, 18 February 1933, Page 9

CANTEEN FUNDS IN TRUST

HUSBANDRY BY THE BOARD

necessity in future years.

RET JEF OF PRESENT DISTRESS.

GRANTS MADE DURING THE YEAR.

By Telegraph.—Press Association. Wellington, Last Night. The annual report and balance-sheet of the N.Z.E.F. Canteen and Regimental Funds Trust Board shows the total funds at February 1, 1933, to be £198,214 16s. 3d., of which £193,071 is invested at the average interest rate of 5 per cent, after allowing for interest reductions and stamp duty imposed by the National Expenditure Adjustment Act, 1932. During the past year grants totalling £13,000 were made through the New Zealand Returned Soldiers’ Association tor the relief of distress caused by unemployment among returned soldiers, making a total to date of £40,085 expended for this purpose. This relief is to be continued in grants of £l5OO a month. A grant of £lOOO was made during the last year to the Trentham scholarship fund towards the education of children of deceased and disabled soldiers, and the board at its meeting to-day approved of a final grant of £5OO for the current year, making a grand total of £12,979 10s. for this purpose. Other compassionate grants totalling £47 12s. were made to cases which could not be assisted from other relief funds. Relief expenditure during the year exceeded the interest earnings by £449 14s. 2d., thus reducing the capital funds by that amount. Having in mind funds which are still available for relief purposes in the hands of various patriotic associations throughout the Dominion the Canteen Board reaffirmed its policy of preserving its funds as far as possible for future relief when these other funds become exhausted in the near future, as experience of previous wars has shown the necessity of such a fund many years after the war. is over. In view, however, of the pressing needs of unemployed men under the present economic conditions the board felt bound to do its utmost to meet the circumstances by continuing its grants of £l5OO a month (£lB,OOO per annum) for distribution through the headquarters executive of the New Zealand Returned Soldiers’ Association in relief of distress caused by unemployment. In connection therewith the following resolution was passed by the board at its meeting to-day: “That the New Zealand Returned Soldiers’ Association be informed that the board does not approve of any part of the allocations made under its grants being used for the payment of. administrative expenses or for subsidising clubs, medical or otherwise. The board reaffirms its desire and intention that the grants should be made available to the call of ex-N.Z.E.F. returned men, irrespective of whether thfey are members of the Returned Soldiers’ Association, or “The reason actuating the board in its decision • to make these grants through the medium of the New Zealand Returned Soldiers’ Association was the-fact that that body is recognised as a representative organisation of returned soldiers with branches in all parts of the Dominion. which are. in touch with and have local knowledge of cases in their respective districts, and as a general rule are working in co-operation with the local bodies and other organisations in the matter of relieving unemployment. The board feels confident that the letter and spirit of its intentions will be faithfully observed by the Returned Soldiers Association.”