THE AUSTRALIAN MUTUAL PROVIDENT SOCIETY.

Nelson Evening Mail, Volume XIV, Issue 222, 30 September 1879, Page 2

THE AUSTRALIAN MUTUAL PROVIDENT SOCIETY.

The members of the Australian Mutual Provident Society must be congratulated on the magnificent Tesult of the quinquennial investigation, which appears in our Sydney telegrams. More than half a million of money is available for distribution in cash bonuses, or, if allowed by the members to be added as reversionary additions to their policies, produces no less a sum than over a million sterling. This result tells a tale of prudence and forethought on the part of its members eminently praiseworthy, and a management that reflects the utmost credit to those engaged in it. It also speaks volumes for the bonus-producing premiums of the society, which, although very considerably lower than those of the oldest largest, and best-managed English offices, are' capable by judicious investment and scrupulous enconomy of producing such a splendid surplus. Each member cannot but be gratified at being connected with such a colonial institution, which— while only 30 years of age— has proved eminently successful, and we think that no participating policy holder will now grudge the almost imperceptible extra premium which has purchased him the right to share in the profits. We hope shortly to have the pleasure of perusing the long-looked-for Quinquennial lieport, when we may, perhaps, refer to the investigation aud its results more in detail. The resident secretary of the society in Wellington, Mr E. W. Lowe, has furnished us with the following extract from a private copy of the report which has ju3fc reached him, in which the accomplished actuary of the society, Mr Morrice A. Black concludes hi 3 report in the following words :— " In conclusion, the Australian Mutual Provident Society, at 30 years of age, stands before the world as a ljfc institution tb,at has achieved unparalleled success. #or stability it is unsurpassed, for the profit it has realised and divided it is unexcelled, and for the liberality of its business arrangements It ia matchless. No other Life Assurance Society in any part of the world has had at the end of 30 years 35 218 policies in force, assuring £1:5,192.121, an accumulated fund of £2,600,053, and au annual reyenue of -£622,000, of which it could be said that the ratio of expenses to premium income has been less, the rate of interest on the fuad higher, the premiums charged lower, the reserves for the liabilities higher, or the bonuses allotted to its members larger than those of this Society. Truly such an institutiou may well be tlie boast of Australasia and tlie special pride of Sydney, the cjty of its foundation."— Eveniny I J ost, 26th Sept.