THE AUSTRALIAN MUTUAL PROVIDENT SOCIETY.

Akaroa Mail and Banks Peninsula Advertiser, Volume 4, Issue 335, 3 October 1879, Page 2

THE AUSTRALIAN MUTUAL PROVIDENT SOCIETY.

The members of the Australian Mutual Provident Society must be congratulated on the magnificent result of, the quinquennial investigation, which appears in our Sydney telegram. More than half a million of money.is available/for'distribution* in cash bonuses, or, if allowed by the members to be added as reversionary additions to their policies, produces, no .a; sum than over a million sterling. This.result tells a tale of prudence and forethought on the part of its members ethinently praiseworthy, and a management chat;reflects the utmost credit tb those engaged in it. : It also speaks volumes for the bonus producing preittiums .of the Society, which, although. CK)nside'rably l lojver than those of the /oldest,, largest, and bestmanaged English offices,.are-capable by judicious •my of" producing -such a splendid surplus. Each ineinber,,,|annot but-be gratified at being connected 1 with such a colonial institution, which—-while" only -30 years of age—has proved eminently-eucceasful,-and wo think that no participating •rpolicyholder will now grudge the ceptible extra premium which has purchased him the right to share We hope shortly to have the pleasure of perusing the long-looked-for Quinquennial Report, when we may, perhaps, refer to the investigation and its, results more in detail. The resident secretary of the society in Wellington, Mr ill. W. Lowe, has furnished us with the following extract from a private copy of the report which has just reached him, in which the accomplished actuary of the society, Mr Morrice A. Black, concludes his report in the following words :—'' In conclusion, the Australian Mutual Provident Society, at 30 years of age, stands before the world as a life institution that has achieved unparalleled success. For stability it is unsurpassed, for the profit it has realised and divided it is unexcelled, and for the liberality of its business arrangements it is matchless. No other Life Assurance Society in any part of the world has had at the end of 30 years 35,218 policies in force, assuring £13,392,121, an 1 accumulated fund of £2,606,053, and an annual revenue of £622,000, of which it could be said that the ratio of expenses to premium income has been less,.tho rate of interest on the funds higher, the premium charged lower, the reserve for the liabilities higher, or the bonuses allotted to its members larger than those of this Societjv Truly such an institution may well be the boast of Australasia, and the special pride of Sydney, the city of its foundation."— Evening. Post,\ 26th September. . ;;