P.—s.

Table D. —Statement of Investments.

Per Cent. Per Cent. Average rate of interest on securities held at 31st March .. 4-415 4-577 Average rate of interest earned on the mean funds, including reimbursement? made by the Treasury in respect of reduction of interest .. .. .. .. .. 5-259 5-484-Statement of Accounts in accordance with Section 123, Government Railways Act, 1926. Receipts and Payments Account for the Year ended 31st March, 1937. Receipts. Payments. Dr. £ s. d. 'Or. £ s. d. Balance in hands of Public Trustee on 31st March, Retiring-allowances paid to members .. .. 419,552 14 0 1936 .. .. .. .. .. 30,785 14 6 Allowances to widows and children .. .. 28,558 11 8 Contributions by staff .. .. .. 155,798 8 6 Contributions refunded to members who have Contributions by contingent contributors . . 5,463 11 6 loft the Service .. .. .. .. 14,273 13 9 Pines .. .. .. .. .. 11l 15 0 Contributions refunded to contingent members Working Railways Account — who have left the Service .. .. .. 1,614 2 6 Subsidy .. .. .. .. .. 170,000 0 0 Rebates of contributions .. .. .. 218 4 10 Increased allowances to widows and children . . 12,748 16 9 Refund to legal representatives of deceased bene-Cost-of-living bonus to annuitants .. .. 1,802 14 9 ficiaries under section 120 (c) of Government Subsidies from — Railways Act, 1926 .. .. .. 1,041 7 3 New Zealand Railway Officers' Institute . . 26 8 4 Contributions transferred to other funds .. 245 5 2 Railway Tradesmen's Association .. .. 21 910 Travelling-expenses of Board members .. 74 2 6 New Zealand Engine-drivers, Firemen, and Public Trust charges (legal costs) .. .. 20 13 7 Cleaners' Association .. .. .. 31 15 3 Public Trust commission .. .. .. 1,583 5 0 Consolidated Fund .. .. .. 65,000 0 0 Audit Office fee .. .. .. .. 50 0 0 Interest— £ s. d. Insurance premiums (recoverable) . . .. 2 3 6 Investments .. .. 56,997 7 6 Salaries .. .. ... .. .. 1,290 15 5 Treasury Department .. 11,362 0 0 Postage .. .. .. .. .. 197 11 Q 68,359 7 6 Printing and stationery .. .. .. 37 9 2 Rates and fees (recovered) .. .. .. 130 0 8 Cost-of-living bonus to annuitants .. .. 1,791 4 5 Commission on collection of Government Life Investments .. .. .. .. 10,842 2 1 Insurance premiums .. .. 46 18 10 Balance in hands of Public Trustee at 31st March, 1937 .. . . . . .. .. 28,933 15 7 £510,327 1 5 £510,327 1 5

4

Funds invested at 31st March. ! 1937. 1936. £ s. d. £ s. d. At per cent. .. . . .. .. .. .. „3-375 „ .. .. .. .. .. 25.000 0 0 25,000 0 0 .,3-5 „ .. .. .. .. .. 81,838 2 5 13,121 7 6 „4 „ .. .. .. .. .. 227,145 10 0! 232.145 10 0 „4-25 „ .. .. .. .. .. 290,457 10 11 188,120 1 3 „4-4 „ . . .. .. .. .. 335 0 0 335 0 0 „4-5 „ .. .. .. .. .. 189,255 19 9 117,354 11 2 „5-0 „ .. .. .. .. .. 382,989 3 11 576.038 7 10 ,.5-2 „ .. .. .. .. .. .. 90 0 0 „6-0 „ .. .. .. .. .. 1,842 5 0 3,255 5 0 Gash in hand .. .. .. .. .. .. 35,711 5 4 68,272 12 6 1,234,574 17 4 1,223,732 15 3