JD. —5

Table D. —Statement of Investments.

1939. 1938. Per Cent. Per Cent. Average rate of interest on securities held at 31st March 4-254 4-315 Average rate of interest earned on the mean funds, including reimbursements made by the Treasury in respect of reduction of interest .. .. .. 5-123 5-213 Statement of Accounts in accordance with Section 123, Government Eailways Act, 1926. Receipts and Payments Account for Year ended 31st March, 1939. Receipts. Payments. Dr. £ a. d. Or. £ s. d. Balance in hands of Public Trustee on 31st March, Retiring-allowances paid to members .. .. 432,862 9 5 1938 .. .. .. .. .. 10,966 15 1 Allowances to widows and children .. .. 29,600 15 10 Contributions by staff .. .. .. 203,695 13 11 Contributions refunded to members who have left Contributions by contingent contributors .. 9,070 6 8 the Service .. .. .. .. 33,031 8 1 Fines .. .. . . .. .. 233 15 0 Contributions refunded to contingent members Working Railways Account — who have left the Service .. .. .. 1,913 6 7 Subsidy .. .. .. .. .. 170,000 0 0 Rebates of contributions .. .. .. 288 9 9 Increased allowances to annuitants as provided Refund to legal representatives of deceased benefor by Statutes Amendment Act, 1936 .. 3,313 6 7 ficiaries under section 120 (c) of Government Increased allowances to widows and children .. 13,153 I 0 Railways Act, 1926 .. .. .. 1,152 0 2 Cost-of-living bonus to annuitants .. .. 1,471 3 6 Contributions transferred to other funds .. 1,016 3 4 Subsidies from— Travelling-expenses of Board members .. 79 15 0 Consolidated Fund .. .. .. 52,000 0 0 Public Trust charges (legal costs) .. .. 178 9 8 New Zealand Railway Officers' Institute .. 14 6 4 Public Trust Commission .. .. .. 1,439 9 3 Railway Tradesmen's Association . . .. 15 16 3 Audit Office fee .. .. . . .. 50 0 0 New Zealand Engine-drivers', Firemen and Salaries .. .. .. .. .. 1,415 0 8 Cleaners' Association .. .. .. 23 14 5 Postages .. .. .. .. .. 204 13 5 Amalgamated Society of Railway Servants .. 15 3 11 Printing and stationery .. .. .. 160 3 7 Interest — £ s. d. Cost-of-living bonus to annuitants .. .. 1,462 12 6 Investments .. .. 57,077 2 7 Investments .. .. .. .. 14,726 15 4 Treasury Department .. 10,876 I 7 Contributions paid (in suspense) .. .. 75 0 0 67,953 4 2 Balance in hands of Public Trustee at 31st March, Rates and fees (recovered) .. .. .. 174 0 4 1939 .. .. .. .. .. 12,490 14 5 Commission on collection of Government Life Insurance premiums .. .. .. 46 19 10 £532,147 7 0 £532,147 7

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Funds invested at 31st Maroh. 1939. . 1938. £ s. d. £ s. d. At 3 percent. .. .. .. .. .. 3,198 0 0 „ 3-375 „ .. .. .. .. .. 25,000 0 0 25,000 0 0 „ 3-5 „ .. .. .. .. .. 172,08116 1 143,940 15 2 „4 „ .. .. .. .. .. 229,145 10 0 227,145 10 0 „ 4-125 „ .. .. .. .. .. 1,704 7 2 1,725 0 0 „ 4-25 „ .. .. .. .. .. 341,483 6 10 317,886 17 6 „ 4-4 „ .. .. .. .. .. 335 0 0 335 0 0 „ 4-5 „ .. .. .. .. .. 293.946 15 8 269,064 8 10 ,,4-75 „ .. .. .. .. .. 3,379 16 11 1,510 18 6 „5 „ .. .. .. .. .. 185,403 0 5 262,873 0 5 „ 6 „ .. .. .. .. .. 1,748 5 0 1,796 11 8 Cash in hand .. . .■ .. .. .. ... 3,991 3 7 1,708 15 8 1,261,417 1 8 1,252,986 17 9