AUSTRALIAN MUTUAL PROVIDENT SOCIETY.

Greymouth Evening Star, Volume XXXI, 15 May 1901, Page 2

AUSTRALIAN MUTUAL PROVIDENT SOCIETY.

The Fifty-Second Annual Report.

The Annual Report of tins Society is to hand, and discloses again a most successful year's business. The new business (1(5,820 policies assuring £'1,224,106) exceeds that of any previous year in the history of the Society. The Accumulated Fund has been increased by £955,101 (almost a million pounds) and now amounts to the great total of £17,029,845. The surplus of funds over Liabilities is £624,894 19 <i.

The amount of Cash Profit to be di videel amongst participating policyholders is £537,894 1!) 0. This is the largest amount of surplus which has over been allotted by (he Society in a single year and it will provide Reversionary Bonuses amounting lo one million pounds. Receipts from interest above amounted to £742,921, which sum is £;i0,187 Is 4d more than the Sccicty has been called on to pay in death claims (including bonus addiiions) and working expenses, whilst the receipts from premiums amounted to £2,364,210 2s 3d.

The expenses of management show a decrease on those of the previous year, and now stand at 8 per cent on the total receipts for the year. The valuation of policy liabilities has been valued by an even more severe standard than that of the past year. Tho position of the society as disclosrd in the report cannot fail to give tho greatest satisfaction to members of this popular institution, and we congratulate those oflicers whose efforts have brought forth such capital results.