D.—s,

Table D. —Statement of Investments.

1940. 1939. Per Cent. Per Cent. Average rate of interest on securities held at 31st March 4-239 4-254 Average rate of interest earned on the mean funds, including reimbursements made by the Treasury in respect of reduction of interest .. .. 5-08 5-123 Statement of Accounts in accordance with Section 123, Government Railways Act, 1926. Receipts and Payments for Year ended 31st March, 1940. Receipts. Payments. Dr. £ s. d. Cr. £ s. d. Balance in hands of Public Trustee on 31st March, Retiring-allowances paid to members .. .. 460,721 16 8 1939 .. .. .. .. .. 12,490 14 5 Allowances to widows and children .. .. 29,307 13 3 Contributions — Contributions refunded to members who have left Staff .. .. .. .. .. 209,986 6 0 the Service .. .. .. .. 36,354 5 3 Army Department .. .. .. . • 499 13 0 Contributions refunded to contingent members Navy Department .. .. .. .. 34 14 1 who have left the Service .. .. .. 2,560 14 11 Contingent contributors .. .. .. 10,265 711 Rebates of contributions .. .. .. 403 10 7 Fines .. .. .. • • • • 263 10 0 Refund to legal representatives of deceased beneWorking Railways Account— flciaries under section 120 (c) of Government Subsidy .. .. .. .. •• 170,000 0 0 Railways Act, 1926.. .. .. .. 2,200 19 5 Increased allowances to annuitants as provided Contributions transferred to other funds .. 1,217 19 1 for by Statutes Amendment Act, 1936 .. 3,204 1 6 Public Trust charges (legal costs) .. .. 52 14 5 Increased allowances to widows and children .. 13,038 4 2 Travelling-expenses of Board members .. .. 92 15 10 Cost-of-living bonus to annuitants .. .. 484 710 Public Trust commission .. .. .. 1,335 16 5 Subsidies from — Audit Office fee .. .. .. .. 50 0 0 Consolidated Fund .. .. .. .. 71,000 0 0 Part cost of actuarial examination of fund .. 173 0 0 New Zealand Railways Officers' Institute .. 13 14 9 Salaries .. .. .. .. .. 1,455 4 4 Railway Tradesmen's Association .. .. 16 10 5 Postages . . .. .. .. .. 248 1 9 New Zealand Engine-drivers, Firemen, and Printing and stationery .. .. .. 125 1 6 Cleaners' Association .. .. .. 22 17 11 Cost-of-living bonus to annuitants .. .. 392 7 11 Amalgamated Society of Railway Servants .. 8 7 5 Rates and fees paid on account of mortgagors Interest — £ s. d. (recoverable) .. .. .. .. 245 18 5 Investments .. .. 53,697 2 9 Contributions paid (in suspense) .. .. 44 0 0 Treasury Department .. 10,639 13 8 Balance in hands of Public Trustee at 31st March, 64,336 16 5 1940 .. .. .. .. .. 23,188 16 11 Commission on collection of Government Life Insurance premiums .. .. .. 48 0 3 Investments .. .. .. .. 4,457 10 7 £560,170 16 8 £560,170 16 8

4

Funds invested at 31st March. 1940. 1939. £ s. d. £ s. d. At 3 percent. .. .. .. .. .. 3,198 0 0 3,198 0 0 ,,3-375 „ .. .. .. .. .. 25,000 0 0 25,000 0 0 ,,3-5 „ .. .. .. .. .. 169,757 5 0 172,08116 1 ,,4 „ .. .. .. .. .. 259,145 10 0 229,145 10 0 „ 4-125 „ 1,689 16 11 1,704 7 2 ,,4-25 „ .. .. .. .. .. 328,893 16 1 341,483 6 10 ,,4-4 „ .. .. .. .. .. 335 0 0 335 0 0 ,,4-5 „ .. .. .. .. .. 295,431 2 11 293,946 15 8 ,,4-75 „ .. .. .. .. .. 3,294 17 9 3,379 16 11 ,,5 „ .. .. .. .. .. 167,518 18 8 185,403 0 5 „ 6 „ .. .. .. .. .. 1,697 0 0 1,748 5 0 Cash in hand .. .. .. .. .. .. 956 13 6 3,991 3 7 1,256,918 0 10 1,261,417 1 8