H—4s

The main item of expenditure is salaries, and this shows an increase of £l4, from £3,226 in 1947-48 to £3,240 in 1948-49. All supervising foremen are engaged on a fulltime salaried basis, and as they are directly concerned in the operation of the co-operative contracts scheme at their respective ports the Commission makes additional quarterly profit distribution grants to them, related to the level of profit distribution attained by waterside workers under the contracts scheme. This year the distribution amounted to £389, as compared with £3BO in 1947-48, leaving a balance of £916 transferred to Accumulated Funds Account and increasing the balance of this account to £1,523, after a transfer back to Appropriation Account of £147, being the balance of surplus distribution (Auckland) paid out during 1948-49. A. E. Bockett, Chairman. L. F. Malcourionne "1 , T , R. J. O'Donnell

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