THE AUSTRALIAN MUTUAL PROVIDENT SOCIETY.

New Zealand Times, Volume XXXII, Issue 4980, 9 March 1877, Page 7

THE AUSTRALIAN MUTUAL PROVIDENT SOCIETY.

We doubt.if there is any commercial coi|poration’ Which better illustrates the progress of Australasia than the Australian Mutual Provident Society; Thirty, years ago Jfchb importance,of the colonies was, small, and the association was then.unthbught of. A year later it was started, and since then it has, to use a somewhat hackneyed phrase,. progressed apace with the colonies, growing with their growth and strengthening with their strength, until, in 1877, there are but three associations in the British. Empire which stand ,m a better position than it does. Recently . the memorialstone of new head offices in Sydney was laid, and the chairman, the Hon. Professor Smith, took the' opportunity of reviewing the past operations lof the . society. The story of the foundation of the society is an apt illustration of how enterprises of great pith and moment;sometimes spring from small, events. It was told by-Mr, T. S. Mort, one, of the directors, ’as,ifollows :—“ The" original promoters of sthe'-Mutual .Provident Society were Mr. Holt, . Rev. Canon Walsh, and my-, self ; my interest in Mr. Walsh and his cloth generally, having led'onto it. If occurred in, thiswise. Mr. Walsh was out of health frorp overwork,;and I invited him to accompany Mrfj. Mort and'.myself to Camden for a few days. On our way we visited Mr. Holt, fat Sophienjberg, near Liverpool. During the luncheon I mentioned, the necessity which existed for somje means of providing for .clergymen: and theirfamilies in- case of old age.or death overtaking the head. Mr. Holt at-once suggested thq .establishment of sa; Mutual: Provident Society which should embrace . these i objects. Mj. Holt was very earnest, add so wasT, for I saw at once how goed the idea was, and on our return to. town we agreed to put .the tliiug.before our mutual friend, Mr. Perry, then an ( official assignee of very good.status,., j. Yqu anay: sum up’ all in a.-few words—My. Walsh was the iustrumEnt, Mr. Holt the performer, I the bollows-blower,’ and every man wje .met at the time singing: chorus to ' Mr.f Holtjs •solo.’’,. ..The-Chairman said,.business was',by no. means lively ;at present. ■, -“Proposals camje int:very: slowly,, and the directors .were: verjycautious in accepting them. They also seemed • to’be,'getting’/to] some (extent apathetic,- for a. number; of ;meetings, lapsed ;for want of |a quorum. The office waft an/uppemoom/in GeorgOrßtrefetgOneaKyHuntetf,street* over ja grocer’s shoji/above-i'the-sdoof -of.'.which -there that the/ office-b6y, finding the- time ffieaVy op ,his- hands, .used .to extract some, amusement in (various Wways-ii outmof "that; i.safiiei 'gilded .'presentment.; :/iTheoil first," ahfiukLHgeherpU ‘ meetingfi-was.-iheldinin JanUafy.vSO,* :1850, It _.'was<i attendddb'.-lby .threfel yidirectors and the secretary, /Together with one other iihebabetv-making fivelin(alkf.nThe::ireport:.twas apdlbgetic .in its t6ffe;.andwa3 .mhinly.'au essay on -the nature.ahd’aims.bf/the society, and ain •apjfeal/to’thepublic eforr supports-] Thirty life policies had been issued duringtthe :y6ar,-assur-dng '£9450,' arid twelve policies had! been;issued for .annuitiea and endowraents; " The /income; ■for, the'year .we® £26B; : aud.the available,-cash .balance .waV therefore £42.’,’ -e "At i- the/ spresent time there are about 27,000i'ppliciesih;forcp, :assuring;nearly premium revenuers*fiearly ! £360,000,- and • the inyepted funds well on two millions. f I/I W A >( h :■< M..A j ■