League Lost £5568

Press, Volume CVI, Issue 31109, 12 July 1966, Page 6

League Lost £5568

(N.Z. Press Association) WELLINGTON, July 11. The Disabled Servicemen’s i Re ■ establishment League ' showed a loss of £5568 last ■ year, the Dominion president (Mr D. W. Russell) said at < the league’s annual meeting i in Wellington. The Minister of Rehabilitation (Mr Kinsella) said that! he and the Minister of Fin-j ance (Mr Lake) had agreed to sign an advance payment of! £2OOO on an administration grant. This would be part of a final payment to the league, still to be decided by the Cabinet

“The over-all loss for the;; year is £5568, compared with ; a profit for the previous year!: of £9272, a drop altogether of £14,840,” said Mr Russell. p “The league’s cash resour- ’ ces have fallen during the i

year from £48,937 to £29,713, a drop of £19,000,” Mr Russell said. “The Wellington branch | after many years of good returns has sustained a substantial loss. "In this regard it must be borne in mind that the Wellington branch has pioneered the occupational workshop pilot scheme and the net loss amounted to £2167 for the year.” The league began the year with a credit balance of £7200 but ended with a £7OO overdraft.