D—s

5

Table C.—Progress of the Fund

Table D.—Statement of Investments

1946. 1945. Per Cent. Per Cent. Average rate of interest on securities held at 31st March . . 4-201 4-133 Average rate of interest earned on the mean funds, including reimbursements made by the Treasury in respect of reduction of interest . . .. .. .. 4-772 5-043

Balance forward. Allowances granted, £ s. d. £ s. d. 1903 to 1935 658,575 16 5 1936 1,246,984 7 11 14,637 7 0 1937 1,250,860 10 2 13,863 2 0 1937 (increased allowances, section 27, Statutes Amendment Act, 1936) 3,553 8 0 1938 1,272,724 7 5 24,622 14 0 1939 1,282,354 0 2 36,872 9 0 1940 1,279,836 2 8 51,808 12 0 1941 1,248,383 2 2 58,157 10 0 1942 1,187,537 1 10 47,033 1 0 1943 1,164,045 0 0 27,466 4 0 1944 1,151,546 6 9 66,188 14 0 1945 1,130,936 6 0 71,088 16 0 1946 1,080,778 12 11 70,410 13 0 1946 (increased allowances, Superannuation Amendment Act, 1945) 36,408 19 0 1,180,687 5 5 Less members died, &c. 469,566 15 0 Less liability of Working Railways Account 57,936 11 0 527,503 6 0 Annual liability at 31st March, 1946 £653,183 19 5

Funds invested at 31st March. 1946. 1945. £ s. d. £ s. d. At 3 per cent. 46,425 0 0 46,425 0 0 „ 3-25 „ 1,700 0 0 i,700 0 0 „ 3-375 „ 25,000 0 0 25,000 0 0 „ 3-5 „ 152,646 14 4 158,936 18 9 „ 4 „ 212,070 10 0 212,070 10 0 „ 4-25 „ 400,753 13 5 332,193 18 5 „ 4-4 „ 335 0 0 335 0 0 „ 4-5 111,992 10 11 216,321 12 8 „ 4-75 „ .... 869 5 9 1,008 18 11 „ 5 „ 76,752 8 10 93,099 13 2 „ 6 „ 1,316 8 4 1,389 11 8 Cash in hand 9,119 2 1 14,870 11 11 1,038,980 13 8 1,103,351 15 6