MUTUAL ASSURANCE SOCIETY OF VICTORIA, LIMITED.

Lyell Times and Central Buller Gazette, Volume VI, Issue 295, 16 October 1886, Page 3

MUTUAL ASSURANCE SOCIETY OF VICTORIA, LIMITED.

[Daily Telegraph, August 24th.] An extraordinary general meeting of the members of the Mutual' Assurance Society of Victoria Limited, was held at the offices of the Society yesterday afternoon, when the third quinquennial investigation report of the directors was presented. The Hon. Thomas Leader (chairman) presided, and there was a large attendance of members. The manager having read the report of the directors and the report of the consulting actuary. The chairman said it would have been gratifying to the directors if a much larger sum than £26,477 -[had been available for distribution among the members of the society, but owing to the fact that the last five years had spent in extending the business of the society in the other colonies, considerable expense had been involved. This unavoidable expenditure would not recur, and a large business was now established. The business had made great strides since quinquennial period, and the society had now excellent pros-, pects. The bonuses in some other assurance societies were larger than theirs, but the rate of premium paid by the policy-holders of the Mutual was much lower. It was quite easy to pay a large bonus when a large premium was charged. The directors had appointed Mr. J. B. Gillison, P. F. A., general manager, in addition to the position of actuary, which he had held since 1884. The directors had every confidence in his youth, energy, and ambitiou, as well as his scientific knowledge, to advance the in- \ terests of the society. (Hear, hear), they had also good managers in the other Colonies. He moved the adoption of the report and balance-sheet. Mr. H. Schlam seconded the motion, which was carried unanimously. A vote of thanks was passed to the chairman and directors, and the meeting terminated.