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PUBLIC RECORD OFFICE
Reference :-
885/26
PUBLIC RECORD OFFICE, LONDON
ALLY WITHOUT PERMISSION OF THE BE REPRODUCED PHOTOGRAPHIC- COPYRIGHT PHOTOGRAPH-NOT TO
112
The
publications would eventually cover the printing bill for the Bulletins. accounts were adopted. The Committee then proceeded to discuss the further proposals contained in a letter* addressed by the Crown Agents for the Colonies Sir Herbert Read to the Secretary in regard to the Director's pension scheme. referred to the misunderstanding which had taken place at the last meeting of the Committee as to the precise nature of the Crown Agents' proposals, and expressed the view that the proposals as now put forward would provide a suitable method He added that he con- of providing a pension for the Director on his retirement. sidered that it would certainly be preferable for the matter to be dealt with by the Crown Agents rather than by an Insurance Company.
Dr. Bagshawe expressed himself as fully satisfied with the proposals now made. Dr. Balfour stated that, since the difficulty referred to in the minutes of the 37th Meeting in regard to the extent to which Dr. Bagshawe's dependents would benefit in the event of his early decease under the Crown Agents' proposals had now been satisfactorily cleared up, he considered the scheme as quite satisfactory. Committee accordingly decided to approve the scheme and to adopt the procedure suggested in the concluding paragraphs of the letter from Mr. Davis to the Secretary of the 24th of July,
The
Dr. Balfour enquired whether in the event of the possible amalgamation of the Tropical Diseases Bureau with the School of Hygiene and Tropical Medicine the scheme for the provision of the Director's pension through the Crown Agents could continue, and Sir Herbert Read stated that he thought it unlikely that the amal- gamation would necessitate any change in this respect.
At the conclusion of the meeting Dr. Balfour referred to the fact that, in view of Sir H. Read's appointment as Governor of Mauritius, it was the last occasion on which the Managing Committee would meet under his chairmanship, and recorded on behalf of the members of the Committee their appreciation of his valuable Dr. services to the Committee, and their thanks for his work on its behalf. Bagshawe referred to the Chairman's connexion with the Bureau from the time when it came into being and the loss which it would sustain owing to Sir H. Read's departure.
Enclosure 1 in No. 33. TROPICAL DISeases Bureau.
Statement of Receipts and Expenditure in the Year ended 31st March, 1924.
Government Granta
Tropical Diseases Bulletin and Sanitation Sup-
plements
King's "Vaccination in the Tropics
Tropical Veterinary Bulletin
Interest on Deposit
Superannuation Fund (retrospective).
Superannuation Fund (current)
Salaries
General Office Expenses
Library
Stationery
Postage (excluding Bulletin postage)
Reviews
Translations
Indexing
Refund to Crown Agents of receipts from
sales of King's "Vaccination in the Tropics
369
38
-702
Receipts.
£
8. d.
Balance on 1st April, 1923 . 564 18 10 Parliamentary Grant
Colonial Contributions
..1,000 0 0
2,931 5 11
2500 0 300 0 0
113
Expenditure.
55 1 0
TROPICAL DISEASES BUREAU.
Account of Receipts and Expenditure for the Year ended 31st March, 1924.
Salaries Purchase of books and bind-
ing
Printing and Postage of pub-
lications Superannuation Payments
Superannuation Payments
Miscellaneous
£ 8. d 3,677 14 11
1,481 6 6
Balance on 31st March, 1924 814 0
India Contribution
Sudan Contribution. Egyptian Government's Con-
tribution
Sales of publications and
advertisements Transfers from Provident
Fund
Staff Contributions to Super-
annuation Scheme Interest on deposit
102 11 3
369 0 0
114 7 189 0 0
6
5
(retrospective)
1,144 4 6
(current)
369 0 0
38 2 6 7 4
-£6,700 10 4
Provident Fund Account.
Balance on 31st March, 1923 1,327 1 Interest
18 6 8
£ 8. d.
4
£ 8. d.
£1,345 8 0
Transfers to Current Account 369 Balance at 31st March, 1924 976
£1,345 8
0 0
8
0
0
Enclosure 2 in No. 33.
£6,700 10 4
The Crown Agents for the Colonies,
4, Millbank, Westminster, London, S.W.1.
24th July, 1924.
With reference to our telephone conversation regarding Dr. Bagshawe's Pension Scheme, I enclose a statement which shows how the investment of £498 188. per annum through the Crown Agents, yielding interest at the estimated rate of 41 per cent. per annum, would compare with the payment of a similar annual sum to the Equitable Assurance Company.
If there is any point which requires elucidation or if you want any more information please let me know.
Received.
Expended.
£ 8. d.
2 4,583 17
£ s. d.
DEAR SIDEBOTHAM,
1,003 14 4
139 12 8
1,277 5 0† 204 1 6‡
17 6
4
0
369
0
6
114
6
3,487 4
2
75
0
55
0
57 18 8
49 12
6
62 11 0
74 5 0
53 14 9
•
6 0 10
£6,135 11
6
£5,886 9 11
0748-8244
OONOO∞.........σ
† Covers printing of 12 Numbers, 2 Supplements and 2 Indexes; and Postages. Also payment of £64 88. 5d, in respect of undercharges arising from errors in Stationery Office Accounts between March, 1920, and March, 1921.
+ Covers printing of 5 Numbers and 1 Index; and Postages.
The balance remaining at 31st March, 1924 (exclusive of Provident Fund Account) was £814 08. 5d.
Assets not shown in the above Statement-£976 88. Od.-placed to Provident Fund Account on deposit at Westminster Bank, Ltd.
Dr. Balfour's letter of 8th July seems to call for no special observations. We agree, entirely with the concluding paragraph of his letter.
I suggest, if the Committee decide to proceed with the investment through this office, that you should instruct us to open a special account, which we would call "Dr. Bagshawe's Pension Fund," and give us instructions (1) to invest the sum of £971 Ils. 3d. (or whatever it is now with a view to meeting the payment of a lump sum to Dr. Bagahawe, and (2) to invest the sum of £498 188. per annum to produce funds to provide the annual payment required on his retirement.
A copy of the account would be sent to the Secretary of the Bureau quarterly, half-yearly or annually as desired, and in addition, a statement certified by the Exchequer and Audit Department would be sent to the Colonial Office annually. The accounts and the audited statement together will enable the Committee to see that the fund is being properly kept.
Yours, &c.,
F. DAVIS,
J. B. Sidebotham, Esq.
Colonial Office.
I
*
* Epclosure 2.
Page 420Page 421
336
114
Dr. Bagshawe's Pension Fund.
Figures taken from Annexure 1 (paragraph 5) of proposals placed before 36th meeting of T.D. Bureau, as being amounts which might be provided on the principle of pensions in the Home Civil Bervice.
Estimated amount accumulated by the end of each year which would be available for payment to Dr. Bagshawe's dependenta in the ovent of his death, on the basis of an annual provision of £488 18.
If invested by Crown Agents at estimated rate of 41 per cent. per annum.
I paid to Insurance Co. and accumulated
at rate of 34 per cent. per annum.
The sum of £971 11. 3d.
now available, if
invested at an
estimated rate of
4 per cent, per annum
would produce
(1)
In
(2) Annual
(3)
(4)
(5)
(6)
£
Pension.
d.
Lump Sum.
8.
£
8.
d
£
8.
d.
£
8.
d.
£
8. d.
1924 280 0 0
933 6 8
1925
292 10 0
966 13 4
520 0 0
515 0
0
1,013 0
0
1926
305 0 0
1,000 0 0
1927
317 10 0
1028
330 0
1,033 6 8 1,066 13 4
1929
342 10 0
1,100 0 0
1930
355 0 0
1931
367 10 0
1,133 6 8 4 1,166 13
1,062 Q 0 1,627 0 2,217 0 0 2,831 0 0 3,471 0 0
1,047 0
0
1,056 0 0
1,596 0 2,163 0 0 2,748 0 0 3,352 0 0
*
1,102 0 0 1,149 0 0 1,199 0 0 0 1,250 0 1,304 0 0
* It would not be necessary to make a full payment of £498 189. in 1931. † No figure is shown for 1931, as first part of policy would be complete when Dr. Bagshawe reaches the age of 60 and the Insurance Company would then have to provide an annuity of £367 10s.
£ 8. d.
The estimated cost of an annuity in 1931, of £367 10s. per annum (see
Annexe 2 of proposals placed before 35th Meeting of Committee) is 3,991 0 0 When the 7th annual payment falls due in 1931, there will have been
accumulated (as above column (4)).
3,471 0 0
£520 0 0
147 0 0
£373 0 0
The income during 1931 on the £3,471 already accumulated by 1930
would be, on a 41 per cent. basis, say
Deduct further the excess of accumulations from investment of £971 11s. 3d, by 1931 (column (6) above) viz... Less the lump sum payable in that year (column (3)
above)
£1,304 0 0
1,166 13 4
137 6 8
Estimated net amount required to be paid to Crown Agents
in 1931
£235 13 4
The estimated total payments (excluding the surplus from the investment of £971 118. 3d.) made to the Crown Agents would therefore be about £125 less than the seven annual payments which would have to be made to the Insurance Company.
54526
115
No. 34.
MINUTES OF THE THIRTY-NINTH MEETING OF THE MANAGING COMMITTEE OF THE TROPICAL DIEASES BUREAU, HELD ON WEDNESDAY, THE 12TH OF NOVEMBER, 1924.
Present:
MR. A. FIDDIAN, Chairman.
DR. A. BALFOUR.
SIR HAVELOCK CHARLES.
SIR WILLIAM Fletcher.
DR. A. E. HORN.
SIR WILLIAM LEISHMAN.
MR. P. B. B. NICHOLS.
MR. J. B. SIDEBOTRAM, Secretary.
DR. A. G. BAGSHAWE, Director of the Bureau,
also attended.
1. MINUTES of the 38th Meeting of the Committee were confirmed. The Committee had before them a statement of Dr. Bagshawe's Pension Fund Account for the period 1st September to 30th September, 1924, which had been received from the Crown Agents for the Colonies.
2. The Director of the Bureau then presented a statement of accounts for the half-year, April to September, 1924. No criticisms were made by the Committee on this statement.
3. The Committee then proceeded to consider the question of the renewal of the Treasury grant-in-aid to the funds of the Bureau, and the renewal of other grants expiring with the current financial year.. Dr. Bagshawe explained that fresh application would have to be made for the grants from the Soudan, South Africa, North Borneo and Ceylon. The Committee had before them a memorandum § by the Director of the Bureau on the subject of the renewal of the Treasury grant- in-aid. Dr. Balfour expressed the view that a refusal on the part of the Treasury to renew the Parliamentary grant would afford a pretext for the Colonies to with- draw their grants, and inquired whether there was any danger of the Treasury refusing to do so. The Chairman stated that there was always a danger that the Treasury might be inclined to take a strictly economical view of a matter of this kind, especially as funds were not plentiful at present. Sir William Leishman concurred in the view expressed by Dr. Balfour, and remarked that the Treasury got very good value for their contribution, as would be seen by reference to the fifth paragraph of the Director's memorandum. Sir Havelock Charles stated that he was hopeful that the new Secretary of State for India might be able to persuade the Government of India to restore their contribution to its former figure. After further discussion, it was agreed by the Committee that the Treasury should be approached with a view to a renewal of the grant-in-aid, and that the Director's memorandum should form the basis of the reference to the Treasury.
4. The Committee then considered a proposal|| by Dr. Bagshawe for a change of grading in the staff of the Bureau. Dr. Bagshawe said that he was anxious to engage a Junior Assistant Secretary, at a commencing salary of £130 per annum, in place of the Second Assistant Secretary, who had left the Bureau at the end of October. A saving of £75 per annum would result from this arrangement, which would be satisfactory so far as the work of the Bureau was concerned, though later it might prove desirable to revert to the original arrangement. In reply to a question by Dr. Horn, Dr. Bagshawe stated that the Junior Assistant Secretary would not at present come under the Federated Superannuation Scheme for the Universities, as her salary would be below the limit necessary for benefits under this scheme. The Committee approved the Director's proposal."
5. Dr. Bagshawe then requested the Committee to approve the following expenditure in connexion with the decoration of further accommodation acquired by the Bureau :—
Distempering of room and decorating ceiling Cost of linoleum and laying same
* No. 88.
Annexure 1. ↑ Annexure 2. § Annexure 3.
£ 6. d.
8 10 0
13 8 61
See Annexure 4.