D.—s

Table D. —Statement of Investments.

Per Cent. Per Cent. Average rate of interest on securities held at 31st March 4-315 4-4-15 Average rate of interest earned on the mean funds, including reimbursements made by the Treasury in respect of reduction of interest .. .. .. 5 • 213 5 • 259 Statement of Accounts in accordance with Section 123, Government Railways Act, 1926. Receipts and Payments Account for the Year ended 31st March, 1938. Receipts. Payments. Dr. £ s. d. Or. £ s. d. Balance in hands of Public Trustee on 31st March, Retiring-allowances paid to members .. .. 424,977 4 9 1937 .. .. .. .. .. 28,933 15 7 Allowances to widows and children .. .. 28,397 12 3 Contributions by staff .. .. .. 179,255 11 6 Contributions refunded to members who have Contributions by contingent contributors .. 8,717 17 11 left the Service .. .. .. .. 23,917 210 .Fines .. . . .. .. .. 149 12 6 Contributions refunded to contingent members Working Railways Account — who have left the Service .. .. .. 1,584 3 9 Subsidy .. .. .. .. .. 170,000 0 0 Rebates of contributions .. .. .. 194 12 4 Increased allowances to annuitants as provided Refund to legal representatives of deceased benefor by Statutes Amendment Act, 1936 .. 3,211 2 8 ficiaries under section 120 (c) of Government Increased allowances to widows and children .. 12,569 2 8 Railways Act, 1926 .. .. .. 1,273 4 3 Cost-of-living bonus to annuitants .. .. 1,594 12 0 Contributions transferred to other funds .. 427 8 11 Subsidies from— Travelling-expenses of Board members.. .. 72 15 0 New Zealand Railways Officers' Institute .. 14 1 6 Public Trust charges (legal costs) .. . . 145 16 0 Railway Tradesmen's Association .. .. 17 111 Public Trust commission .. .. .. 1,416 17 7 New Zealand Engine-drivers, Firemen, and Audit Office fee .. .. .. .. 50 0 0 Cleaners' Association .. .. .. 25 12 9 Salaries .. .. .. .. .. 1,373 12 1 Consolidated Fund . . .. .. 45,000 0 0 Postages .. . . . . .. .. 154 4 7 Interest— £ s. d. Printing and stationery .. .. .. 181 18 5 Investments .. .. 54,732 2 1 Cost-of-living bonus to annuitants .. .. 1,574 6 5 Treasury Department .. 11,119 0 0 Investments .. .. .. .. 18,820 5 3 — 65,851 2 1 Cost of actuarial investigation of the fund .. 380 0 0 Rates and fees (recovered) .. .. .. 385 1 4 Balance in hands of Public Trustee at 31st March, Insurance premium (recovered) .. .. 4 711 1938 .. .. .. .. .. 10,966 15 1 Commission on collection of Government Life Insurance premiums .. .. .. 46 7 2 | Contributions recovered (in Suspense) .. .. 132 10 0 £315,907 19 6 £515,907 19 6 __ V a

4

* ~ ' ■ I * j " * - Funds invested at 31st March. : 1938. 1937. ____ ; I I ■- £ s. d. £ s. d. At per cent. ,,3-375 „ .. .. .. .. .. 25,000 0 0 25,000 0 0 „ 3-5 „ .. .. .. .. .. 143,940 15 2 81,838 2 5 „ 4 „ .. .. .. .. .. 227,145 10 0 227,145 10 0 ,,4-125 „ .. .. .. .. .. 1,725 0 0; ,,4-25 „ .. .. .. .. .. 317,886 17 6 290,457 10 11 „ 4-4 „ .. .. .. ., .. 335 0 0 335 0 0 „ 4-5 „ .. .. .. .. .. 269,064 8 10 189.255 19 9 ,,4-75 „ .. .. .. .. .. 1,510 18 6 „ 5-0 „ .. .. .. .. .. 262,87.3 0 5 382,989 3 11 „ 6-0 „ .. .. .. .. .. 1,796 11 8 1,842 5 0 Cash in hand .. .. .. .. .. .. 1,708 15 8 35,711 5 4 1,252.986 17 9 : 1,234,574 17 4 ' j i