Public Employees' Retirement System of the State of Montana ... Annual Report 1954

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The ratio of administrative cost to assets has been decreased .115% and the ratio of such expense to the total expenses decreased by .070^% indicating that an increased work- load is being handled at a lower cost.
RECAPITULATION OF IIIVESTMIITS MOIJTAirA MUIUCIPAL BOWS: Meagher County Court House Bonds ^ 12,250,00 Ravalli County, General Obligation 40,000.00 Sanders County, Hospital 15,000.00 Silver Bow County, General Obligation .... 23,000.00 Toole County, Kevin Water Bonds 30,000.00 City of ...Columbia Falls, General Obligation . . 45,000.00 City of Cut Bank, General Obligation 41,000.00 City of Poison, Sewer' Bonds • 33,200.00 City of Sidney,. Swimming Pool Bonds 35,000.00 City of V.niite Sulphur Springs, r/ater 14,000.00 Augusta High School. Building Bonds 50,000.00 Blaine County, Turner High School District • ♦ 42,000.00 Chouteau County, High School District #i • • • 37,500.00 Deer Lodge County High School 60,000.00 ^^rgus County, Denton High School District . . 15,000.00 Lincoln County, Libby High School ......

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