The A.M.P.Society

Feilding Star, Volume XIV, Issue 27, 20 August 1892, Page 4

The A.M.P.Society

The following paragraph, taken from the Insurance and Banking Record for July, will be of interest to the many members of the Australian j Mutual Providers Society in our i community: — 'The late Hon. T. T. a'Beckett was one of the very first in Victoria to join the Australian Mv- < tual Provident Society, he having . effected policy No. 110 in 1851. When the Victorian branch was established twelve years afterwards (in 1863) he was appointed a director of the first local board He retired in 1865, but was again appointed in 1866. and held the office till he finaly retired in 1887, We are informed that his policy was for LBSO, and that bonuses have been added to the amount of LI7OO 10s, thus increasing the sum issured to L 2550 10s, or to three times the original sum-' With reference to the recent bonus distribution for theyear 1891, as showing the magnitude of the work involved, over one million and a quarter individual calculations were made, several arithmometers or calculating machines being in constant use, and a part of the work of recording and checking* the amount of the year's bonus attached to each policy involved the addition of some 85,000 columns of figures, averaging 50 figures each. The bonus certificates, with the accompanying circular issued for this one year alone, altbough made as economically small as possible to save expense, weighed ju«t about a ton, and a half.