A, M. P. SOCIETY.

Dominion, Volume 3, Issue 810, 6 May 1910, Page 8

A, M. P. SOCIETY.

THE 61st ANNUAL REPORT. (Bj. Telecrapn.— Press Association.! Sydney, May 5. According to tho sixty-first annual renort of tiic Australian Mutual Provident' Sooicty, which has. just been issued, the amount of new business transacted during the past year in t.ho ordinary deDartment again constitutes a, record, bcinx in 'excess of the previous year by no iess than £124,302. Policies to the number of 19.789 were issued in this department, assuring £5,166,653. and yielding annual premiums amounting to £168.730; the net sain in the volume of business in force beinir as much as £2,673,692. In the industrial department 20,193 policies were issued, assurinK £690,411, with annual nremiums of £13,077. ThrS claims by death in tho ordinary department amounted to £819.653, including £2«,100 for bonus additions. th<, .experience "in' this respect being once more extremely favourable. The usual searching investigation was made into the mortgage securities, and a. sum of £7960 was written off the va'.uo of foreclosed nronerties, the value of office pi-etnises being, also reduced by £21.935. Reference is'made to tuo oponinuSof a new "district , office at Cairns (Queensland), and to' the erection of new promises at Shepparton (Victoria), ana Gisborni. (Neo Ze&i&rirf). Kegrot is expressed at the death of Mr. R. B. Ca-i<.. Ron, tho late' secretary o! the society, affor a lorn: and devoted service.

The report of the actuary, Mr. Kichard Tr»ir.e. F.1.A.. F.F.A.. indicates that the stringency of the valuation standard has been -farther increased, while -at' tho. saint 'irao the contingency reserve has" also boon" increased,, and. the: rate'of bonus fully maintained. The amount of cash surplus available for division in the ordinary denartment is £771.492. which will provide reversionary bonuses amounting to about .€1,370,000. The rate of expense shows a rtecrenEO virion the previous year, being at the exceedingly moderate figure of less ■Jan... 9 per cent, of thn year's .receipts. The rate of-interest earned shows a , slieht Increase, and sow stands at the satisfactory . amount of £4 9s. 9d. per cent. In the industrial department a. valuation of 'lie.policy liabilities is submitted for tho ""st time, disclosing a, surplus of £8 12s. sd. . The report, as a. whole, reveals a. condition of continued prosperity, which must be extremely gratifying to the numerous members of the society throughout the world.