NATIONAL MUTUAL LIFE.

Dominion, Volume 1, Issue 74, 20 December 1907, Page 7

NATIONAL MUTUAL LIFE.

ANNUAL MEETING. . BY TELEQRAPn—PEESS ASSOCIATION—COPIBIGHT. (Roc. Dec. 19, lti.lo p.m.) Melbourne, December 19. At tho Annual meeting of the National Mutual Life Association, the Chairman, 'in moving tho adoption of .'the report and bal-'ance-sheot,,. stated that' the:.new. business amounted to over throe million sterling. For the first time iu tho history, of. tho Association, the interest rate reached £4 10s. 6d. per cent., or, deducting taxes, £4 13s. 2d. per cont. on the mean funds.. Tho mortality, the Chairman added, was unusually favourable, while there had been a reduction in the expense rate. A considerable purchase of Government securities at favourable prices had : been effected. .The funds and incomc had nearly doubled in tho last ten years. The report was adopted. Mr. Orton Stovons, manager for Now Zealand for tho National Mutual _ Lifo Association, has recoivod tho following cable, message 1 from Melbourne:—"The thirtyoighth annual meeting of tho Association is being hold at Melbourne to-day.. Annual report 1 shows that tho new businoss for the year exceeded throo millions, being two. hundred and thirty thousand more than last yjar, arid a record year for tho Association. The total income is nine hundred thousand pounds, and tho expenditure five hundred and thirty thousand pounds. Tho amount added to the assurance fund as tho rosult of tlip year's working is three hundred and seventy thousand pounds, tho total fundß being nearly five millions. Tho triennial investigation is now being made, and members may anticipate a good bonus early in the now year." Tho local directors areMossrs. A. 15. Pcarco (chairman), Wm. Feasor, M.l'., and Nicholas Reid. I "''