Newark Pension Fund

Newark Pension Fund

In the annual report of the trustees of the Newark, N. J., Paid Fire Department Pension Fund, presented to Director Brennan of the Department of Public Safety, it is shown that while the receipts for the year totaled $94,742.64, only $12,592.60 of this amount was made up of pension assessments, the remainder coming from various other sources. At the beginning of 1918 the fund had in hand $12,980.60. Donations received were Mrs. Robert H. Ballantine, $100; Driver-1 larris Company, $100; United Advertising Corporation, $50; William }. Dolan, $25; American Oil & Supply Co., $100. Disbursements were as follows: Pensions paid in 1918, $66,943.01; premiums on Liberty bonds, $2,500; repairs on property, etc., $1,097.40; printing, stationery, etc., $55; insurance premiums advanced, $63.05; surety bonds, $13.50; clerical expense for fifteen months, $625. The disbursements totaled $71,296.96, leaving a balance in bank of $23,445.68. The fund’s assets, totaling $112,445.68, are detailed as follows : Bonds and mortgages, $88,950; personal property, safe, $50, and the cash in bank.

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