THE COLONIAL MUTUAL.

Evening Star, Issue 14931, 18 July 1912, Page 4

THE COLONIAL MUTUAL.

OFFICIAL STATEMENT. [Peb United PaKSS Association.] WELLINGTON, July 18. With reference to yesterday's cablegram giving particulars of questions asked in the House of Commons in regard to the Colonial Mutual Life Assurance Society, the secretary for New Zealand, Mr P. D. Leslie, states that the Colonial Mutual Society have never yet failed to keep their engagements. Such a suggestion, he says, is ridiculous in the face of the figures disclosed in the last annual report for 1911. The report of the actuary, Mr James Pullar, F.F.A., verifies the total net liability to be £3,208,051, and the amount of the life assurance fund at the close of the year to be £3,357,783, thus disclosing a surplus of assets over liabilities of £149,731. Mr Leslie further states that the society's affairs are in a most prosperous condition, and in proof of that the volume of business transacted last year was veiy considerably giea.er than that of any previous year in the society's history. The amount added to the accumulated fund during the year was £138,961- The society have never lent money to theix local directors in New Zealand, nor have the New Zealand branch any knowledge of such a cou.se having been adopted by the society any where.