The Joint Meeting of the. Finance and Staff Committees also considered a report from the Treasurer and, Controller in which he referred) o. the impracticability of effecting transfers on request by employees into alternative currency funds at the present time under the conditions set out in the Terms and Conditions of Service. Having regard to the serious fall in exchange, the Treasurer and Controller expressed the opinion that immediate steps be taken to reassure employees in regard to the position of their Superannuation Funds, He recommended that with effect from. June 1, 1938, and until further notice, issue of superannuation moneys on termination of service in respect to all foreign employees who have served for a period of three years or more be assessed at a rate of not less than Is, to the dollar, with similar adjustments in respect of U.S, dollars or yen; funds already subject to exchange compensation. under existing Terms of Service to be excluded from the measure, The Treasurer ard Controller pointed out that under his proposal the calamitous effect of the fall in exchange will be shared to a reasonable extent between the Council and its employees, and the Council's inability to implement the Terms of Service in respect of Superannuation Fund transfers to foreign currencies will be offset by an alternative and reasonable measur After considering the matter the joint meeting unanimously recommended to the Council that the Treasurer and Controller's proposal be approved and at its meeting on June 22 the Council adopted the recommendation.
Relief for Refugees The Yellow River flood was discussed at an informal conference today between Dr. H. Kung, President of the Executive Yuan, Mr. Kung Hsiang-yung, former Chairman of the Yellow River Conservancy Board, and Mr. Ching Feng, former Secretary-General of the National Economic Council.
Text read from the printed page and cleaned; old type leaves the occasional error.