Page 3 Advertisements Column 7

Oamaru Mail, Volume IV, Issue 805, 9 November 1878, Page 3

£ <-''••' '•-' »" Zj-JA£A>"l>. REPORT. . (Rep;.-uited_from ins "Australasian Insurance and 'Banking Record" for Sentember IS7S.) T-T affords uspleasui.i to direct attention to". • the Annual Report and Balance-sheet of wie Mutual Life Association of Australasia, whose Head Office is in Sydney. The busi- ■ ness shows a steady growth, which will be best displayed by placing the corresponding figures of the year preceding in brackets, thus: " Proposals—2o42 (1C06), amounting to L 743/275 (L 564,220) ; of these 027 (00(5) were declined, not taken up, or are in course of 52,375 (L 225.900), leaving 1415 (1030) accepted and completed for L 490.900 (L335,2G5), to which adding 37 (30) accepted prior to 30th June for L 10,400 (L 10,250), give s a total of 1452 (1066) Policies issued for L 501,300 (L 345.510), producing New Annual Premiums amounting to L 17.005 17s Id (L 12.314 3s lid). The New Busiuess is more than 40 per cent, in excess of that obtained in the year preceding. The Policies in force, embracing assurances, endowments, and annuities, are 119.5 (3113), amounting to L 1,375.323 (L9fC,flS?), producing an annual pi'emium income of L 47,261 (L 34.451). The total yearly revenue, including interest on investments, exceeds L 52.000. "It will be seen, by reference to the detailed accounts of revenue and of assets and liabilities, that this Sydney company furnishes them in conformity with the Victorian ' Life Assurance Companies' ,Aet, 1873.' That Act has, of course, no force in New South Wales, but the adoption of its schedules shows an honorable resolve to comply with the strictest possible test that can be applied to them. In passing, we must express our sincere regret that some, of our Melbourne offices deliberately ignore the Act, as we pointed out in an article in our issue of August, 1877. We must compliment the Mutual Life Association of Australasia on the clear way iu, which its expenditure and assets are set put. 'Genei-al expenses,' which in many offices' accounts covers a multitude of sins, figures for only LS7. Again, though the report shows considerable extension of agencies during the year, the cost of same is not set down as one item, but is included under the various proper heads of expenditure, nor is any portion of it taken credit for as an asset. In one of the Insurance Agent's leaflets good assets of a life company are thus described : ! ' They must be of a fairly realisable nature— Government funds, colonial stocks, deben-. tures, mortgages, loans on policies, and the like. I should not care to see too much cash locked up in the buildings of offices, or in furniture, or in any permanent items for "good-will," or any dubious items, which; might mean anything.' "To this description of assets the Mutual ; of Australasia clearly conforms." Tlie above gratifying critique bears out the .. assertion that this Association is able to rest its claims to support on published documents, and in particular on its Annual Returns. MESSRS. J. & W. BOOTH Have been appointed AGENTS for the Oamaru District, and from them any ■:. information on the subject of LIFE ASSURANCE can be obtained. BONUS YEAR—IS7B-9. The Second Quinquennium will close o ' . ....._ June.. 1579. av.d ALL POLICIES IX FORi™ At that date will be then divide!. ST. ANDREWS COAL PIT, PAP^ /p<o AL FOR THE PEOI V-' delivered in Oamaru at 225. per tor 3 - Price at Pit, 12s 6d per ton. ', ?"^ An inexhaustible supply of the fin*.** Lignite in the Country. \ 342 JOSEPH SMITH, Proprietor. OAMARU WOOLLEN FACTORY CO. A PPLICATIONS for SHARES in the -*-•*- above Company must be to the undersigned on or before NOVEMBER, as the Lists will be r,r * at that date. GEORGE SUMPi 324 I OAMARU MUTUAL BENEFI ING SOCIETY. SHAREHOLDERS in above f-'oeisty . WITHDRAW at a EON US of SEVKn POUNDS TEN SHILLINGS per Share and parties desirous of at once paying offtheir Mortgages can do so on very advantageous terms. For further information apply to GEORGE SUMPTER, Secretary." CONSULTATION, on the OAMARU GRAND HANDICAP, to be Run 11th DECEMBER, 1878. 500 Members, at £1 each. First Prize ... Second Prize Third Prize Starters (divided) ... Non-starters (divided) The Drawing will take place under the supervision of a Committee of responsible Subscribers present immediately on Subsfiription List being closed. CHARLES DANSEY, ?" Tobacconist, 286 Tbames-Etreet, Oamaru. qpHE NEW ZEALAND LO. - MERCANTILE AGENCI