DEBT TO SEAMEN

Waikato Times, Volume 127, Issue 21222, 19 September 1940, Page 9

DEBT TO SEAMEN

NEW USE FOR FUNDS NEED IN PRESENT WAR TRANSFER OF £20,000 PROPOSED The trustees of the New Zealand Sheepowners’ Acknowledgment of Debt to British Seamen Fund are pursuing plans for extending their activities to the present war. The trustees estimate that after all their commitments for the last war have been met, at least £20,000 will remain in the fund. It has also been decided to link up the organisation with the National Patriotic Fund Board as collecting and sole expending agent for the Common Fund for the purpose named, and proposals for a national campaign to raise further money are being considered. Copies of the annual report, which is to be presented at the annual meeting in Wellington on September 26, are being forwarded to all surviving subscribers whose addresses are known, with a request that they express their approval or otherwise of the proposed transfer of £20,000 or more. If necessary, the sanction of the Supreme Court will be sought. 19 Years’ Expenditure The report shows that since the commencement of the fund in 1921, a total of £74,304 has been expended in cash grants to beneficiaries in New Zealand and overseas, and £94,658 in immigration, training, after-care and settlement of boy and girl dependants through the two Flock Houses, making a total of £168,963. Subscriptions to the fund totalled £201,835, and accretions by way of interest and otherwise amount to £108,242. The total sum held at June 30 last was £141,115. These assets are more than sufficient to care for the incapacitated men and widows who are now on, or may be added to, the fund’s pension list, and to fulfil all obligations to the orphaned sons and daughters. The report mentions that 635 boys and 128 girls were trained and established in New Zealand. After one year of the present war over 160 of the boys, or more than 25 per cent, are overseas in the Navy, Army and Air Force, and one has laid down his life. Many more are in camp.