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EARTHQUAKE AND WAR DAMAGE FUND (Under Earthquake and War Damage Act, 1944.) Income and Expenditure Account for the Year ended 31st March, 1948 £ s. d. £ s. d. £ s. d. Net premiums .. .. .. .. .. 494,938 4 3 Claims paid and outstanding .. .. .. 7,916 11 0 Interest .. .. .. .. 142,741 19 9 Salaries and overtime .. .. .. .. 2,493 9 10 Less premium and costs incurred in Fees of Members of Commission .. .. .. 299 17 6 purchase of Imperial stock .. 12,785 7 9 Expenses of management .. .. .. .. 1,109 13 7 129,956 12 0 Discount allowed insurance offices .. .. .. 11,843 3 0 Balance transferred to Earthquake and War Damage Fund .. .. .. .. .. 601,232 1 4 £624,894 16 3 £624,894 16 3 Balance-sheet as at 31st March, 1948 Liabilities Assets £ s. d. £ s. d. £ s. d. Balance of Earthquake and War New Zealand Government stock .. .. .. 4,270,000 0 0 Damage Fund as at3lstMarch, 1947 5,328,081 4 9 Imperial stock .. .. .. .. .. 1,500,000 0 0 Net income for year ended 31st March, Cash in Public Account to credit of Earthquake and 1948 .. .. .. .. 601,232 I 4 War Damage Fund .. .. .. .. 52,833 13 8 5,929,313 6 1 Interest accrued but not due .. .. .. 31,741 15 7 Claims outstanding .. .. .. .. 3,500 0 0 Premiums accrued but not due .. .. .. 85,77000 Discount due or accrued premiums .. .. 2,146 1 4 Sundry debtors .. .. .. .. .. 2113 6 Premium and other deposits .. .. .. 5,407 15 4 £5,940,367 2 9 £5,940,367 2 9 Note.—In the balance-sheet, New Zealand Government stock has been included at par value and Imperial stock has been included at par value converted to New Zealand currency. 11th June, 1948. T. L. Seator, Secretary. I hereby certify that the Income and Expenditure Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.— J. P. Rutherford, Controller and Auditor-General.

By Authority: E. V. Paul, Government Printer, Wellington. —1948.

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Approximate Cost of Paper.—Preparation, not given ; printing (1,238 copies), £B, 10s.

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