The Australian Mutual Provident Society.

Manawatu Herald, 16 May 1893, Page 2

The Australian Mutual Provident Society.

The forty-fourth annual report of the Australian Mutual Provident Society was issued at Sydney on May 9th. The report is somewhat bulky as it contains an appendix of 16 pages supplying certain schedules and returns required every three < years by the Governments of the various colonies . On this occasion these sohedules are prepared in each case in conformity with the legiela' tion of the colony in which the report circulates. The new business of the year 1892 is represented by 12,585 policies, assuring £8,791,221 and yielding an annual premium value of £126,013 19s 6d. Claims by death amount to £429,470, being much less than the amount paid for the previous year. The total annual revenue is £2,960,128 5s Id and accumulated funds, which have been increased during the year by £796,-----41118s lid, now amount to £11,-----328,448 18s lid. The report of the actuary gives most complete information respecting the society's busk ness. The policy liabilities have beeen valued on the same Btringent basis as was employed last year. Special extra reserves amounting to £58,011 have been made. The values of office premises have been written down by £19,880 19s 2d,

and a sum of £61,500 has been set Aside as an additional reserve fur possible depreciation of mortgage securities. Notwithstanding these precautionary measures, however, the cash surplus available for r divi -sion among members amounts to £504,861 5s lid, which will provide reversionary bonuses amounting to about £ 1,080,6pp.