NATIONAL MUTUAL LIFE ASSOCIATION.

Otaki Mail, 4 May 1923, Page 2

NATIONAL MUTUAL LIFE ASSOCIATION.

r j INVESTIGATION. ; At an extraordinary general meeting \ a of policyholders in the National Mutu-j :,] Lit- Association of Australasia, Ltd., j held in Melbourne, the chairman. Mr \ " A. Newcll, -aid that the iccord of the j I past three years surpassed ail previous ■ I records. | Mr Newel] -aid that the income dur- j 1 j ing tiie three years amounK'd to £7,552.- ] : | 7<iS, of which £r,xv.</>-■:, was for prejni- i . urn- or policies, a; ,d was for i \ ;, interest and tee-. The total was £L- < . J 74.45, greater than tl;,- income ~f t Jie I : precious period. The i.-eer.---. was 1 t equal to ,-i returi: of ii", o- 7d per .-en!. ' „ . per annum '•; the total funds duringthe period, and this rate, calculated on J r the amount of the assurance fund a; ' j

I September -ee Hiil-J, represented an an Dual income of more than £2&3,00'0 it eACCSs of the amount which i; was i-.. sumc-d in the valuation the funds would yield. The amount of interest received was nearly te. ice as much as the amount that was required to pay claims underjKilioie.s. The payments to members under their policies amounted to £2,713.643, or £73,113 less than the amount paid from 19)«-lw, and the amount added to th" assurance fund was £4,06.1,200, which was £L6f;6,491 it ,.. r .- than tie corresponding ii«:i shown in..the 1919 report. The income of th- thtee ! year.-: ~;t- equal to the total income of | the association during the first 23 years of it.* hisfory, and the amount added to the fund was equal to the accumulations of th.- first :~j ytar.-. The new policies issued duri.ig the period amounted to £i7."Li.:«~. T}.- : - was £u,ssl,rHiO mor? than w;._ issue*! in a-;y similar period. The valuation balancesheet showed that while the assurance funds at September ?■''. 1922, amou-Hcd i to £46,-587,639, the net -.hl*-_ of the li-! biiities a- that date ra : £14,832,160. I £0 that there wc.j. z surplus af £1.7..- . i Tit report iras adopted. The district agent of the National ! Mutual Life Awotiatioa ii Mr J. B ' Tastin t " " *<