LOANS & GRANTS
PATRIOTIC ASSOCIATION ACTIVITIES ADVANCES TO EX-SOLDIERS. REPORT FOR PAST YEAR. “The total receipts from all sources from the inception of the fund in 1915, down to March 31, 1939, amount to £228,492 19s sd, and the total payments to £205,412 17s lid, leaving a net balance of funds in hand at this date, of £23,080 Is 6d, a decrease of £2,593 Os 3d, on the previous year,” states the twenty-third annual report fo the Wairarapa Patriotic Association, to be presented at the annual meeting on Wed-
nesday. “The total cost of administration is £9,856 12s 8d or 4.31 per cent of the total contributions, or 2.27 per cent of the total receipts plus total payments of £433,906,” the report continues. Interest from investments has yielded £39,734 9s 7d gross, and £33,482 4s lOd net. Advances to soldiers totalled £102,364 0s sd; repayments, £65,487 15s 3d; writings off, £26,691 Is 2d; leaving outstanding, £10,185 4s. Loans converted to grants during the year amount to £2423 2s 3d, of which £1,608 3s 2d was compulsorily written off in conformity with decisions of the Mortgagor’s Adjustment Commission. Altogether, the sum of £2,913 15s lOd has been written off by Adjustment Court orders, with the loss of that sum to the association, but a corresponding gain to the soldiers concerned. Loans converted to grants in the usual way, amounted to £Bl4 19s Id during the year.
“Outstanding advances to soldiers are classified as follow: —First mortgages (12), £2,799 12s; second mortgages (26), £3,518 10s 2d; third mortgages (or later) (5), £1,103 4s 8d; guarantees (4), £691 10s; chattels securities (8), £662 6s 8d; agreements (12), £698 13s 2d; sundry (3), £442 Is 3d; unsecured:loans (6), £269 6s Id; total (76), £10,185 4s. “During the year, the board sat on twenty-one occasions, the following business transactions receiving the board’s attention:— Applications for loans, 16; applications for temporary relief, 95; reconsideration of cases, 114; sundry other matters, 50; total, 275. The board extends its thanks to the branch committees for services rendered in supplying reports on various cases, and to all kindred societies for like services.”
The report is signed for and on behalf of the board, by Mr D. McGregor, chairman.
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Wairarapa Times-Age, 12 June 1939, Page 4
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368LOANS & GRANTS Wairarapa Times-Age, 12 June 1939, Page 4
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