Evening star. [volume] (Washington, D.C.) 1854-1972, 1892-09-01
THE POLICE PENSION FUND.
II Is in a Worse Condition Now Than Ever
BEFORE

1t Is in Worse Condition Now Than Ever
Before.
Again the condition OF the police relief fund
has been called to public notice, and while the
fund is fast decreasing there ia no reason why
the present bsneficiaries should be deprived of
their pension in the very near future. When
reqUisition was received yesterday for 81. AS to
pay the beneiciaries for the month of August
Treasurer Nebcker discovered that the small
amount OF cash on hand made it necessary to
sell some of the bonds which form the principal
of the fund. This action viii result in dimin-
ishing The present fund. and unless something
is done toward increasing it a few years will
wipe out the entire sum. Treasurer Nebeker
in his report on the matter saws:
THE payments for the relief OF policemen are
largely IN excess of the receiDts. and il will be
noted that the securities held for account of
this fund have greatly decreased during the past
two years.
for the benefit OF retired and disabled police
men. some means should be devised to increase
the income, for under the present condition of
affairs the whole fund will be dissipated in
short time.
1t is said By the treasury officials that the
fund is in worse condition now than it ever
was before. there being practically cash on
hand with which TO pay the monthly checks.
Last year It was necessary to sell bonds amount
ing 10 $3.50.
Mai. Moore has on several occasions called
the attention Of Congress 20 the necessity of
increasing the fund, but with the same result
as in other cases where small appropriations
were asked.
Under an act of Congress 81 per month is
deducted from the salaries of the members of
the force and Maj. Moore asked that Congress
appropriate an amount equal to this assessment
adding, las the fund, as at present constituted,
will not admit of the retirement of men, who,
from long and faithful service, have become
disabled and are entitled to be pensioned.'
In the report o; Maj. Moore for las; year he
said:
No provision has been made or plan adopted
for The augmentation Of the police fund e.
tablished by the act approved February 25
1856. II will be seen by the following state
ment Of its condition that serious depletion of
the principal has already begun. In other
words. since the last annual renort the fund has
the force becomes disabled ''by injury received
or disease contracted in line Of duty ne is dis
charged from service with an allowance rot to
exceed $50 Ter month. and n case Of his death
from sgch iEj jury = disease. leaving widow or
children under sixteen Yeas. for their relief
At this riE.e the credits 70 this fund from the
per capita assessment Of II per month and
from the interest on the principal, fines, re-
wards. &c. are insufficient 20 meet the ex-
peESe7. Eventually the fund viii become eX-
haustod and Congress. unless measures shall be
taken to make it selfsustaining. will be called
upon. by yearly appropriations, to make good
the deficit
According to the books of the auditor Of the
District of Columbia on the 30tn day of June,
1891. there balance of SOL. 81 in cash on
hand aud -27 600 invested in District of Column
bia 81 5 bonds