- 43 -
 
fully 0.4 billion HN return on capital and administrative
 
receipts, and also 0.9 billion BE grants.
 
     In the calendar year 1939, the payments and also the
 
receipts of the Industrial Insurance Fund have also risen.
 
Including Austria and the Sudetenland, the total disbursements
 
probably amounted to 5.2 billion RM, of which 4.8 billion RM
 
were payments. The receipts probably reached the amount of
 
6.6 billion RE, so that a surplus of about 1.4 billion RM
 
was probably available for the formation of capital. It is
 
not likely that Austria and the Sudetenland participated
 
in this formation of capital. Among the receipts, contri-
 
butions probably amounted to a scant 5 billion RM, return
 
on capital and administrative income some 0.5 to 0.6 billion
 
RM and grants to about 1.1 billion RM.
 
     In the calendar year 1940 the increase in disburse-
 
ments of the Industrial Insurance Fund will probably con-
 
tinue. This is explained partly by the continued increase
 
in payments for annuity insurance, which is to be counted
 
on at present in view of the progressing increase in the
 
proportion of the working population that reaches retire-
 
ment age.   The payments for sick and accident insurance will
 
also probably have increased, in connection with the inten-
 
 
sive employment. Austria and the Sudetenland being included,
 
expenditures of the Industrial Insurance Fund for the fiscal
 
                                        year