BRIGHTER OUTLOOK

Rotorua Morning Post, Volume 2, Issue 365, 29 October 1932, Page 4

BRIGHTER OUTLOOK

\ f" '■■■; % . i v jf CONFIDENCE REVll PORMINENT LIFE INSUR M MAN HAS FAITH ™ IN FUTURE § THE A.M.P. ORGANISAI^ I was greatly struck by tliejjffi ,ty of the country in the couflS| my journey he^e. . Beautv Jwj beauty met the eye until I fe]|S surely no further charm cou'^ revealed. I was also impress^ the air of prosperity which vtJ parent everywhere. It is iJB sible to think that a country,® able of such wonderful prodjl cannot fail to overcome th(w pression. ( -• , Here we have briefly the sub; pf the opinion expressed b,y M. Loenthall, of Sydney, presid; the Field 'Officers' Association j Australian Mutual Provident S: in the course of an interviewy "Morning Post" representative terday. It is 30 years sinct Loenthall first visited Rotorua, naturally, he (has been confs with cHange ' in many dir« Nevertheless, he was able to j nise a lot of the attrac'tions se; the occasion of his early visit. Government Grounds had been; ly extended and he saw with plfi the splendid baths -provided. h terday he renewed acquaintanctB Whakarewarewa, and during hi.B here will probably visit other ■ of interest -in the_ distriet. p Personal Contact H But Mr. Loenthall is prese: New Zealand primarily for bo purposes. It is his intention t into touch with all the field oi of the company in the Dominioi by personal contact ascertain outlook on business in New Ze; He believes that by this me will be possible to establish al understanding of the insurance fits which the A.M.P. has to "Our company has traditions," Mr. Loenthall, and he pointed that it had been founded as far as 1849. Its objectthen was,k to provide old age pensions and benefits for clergymen and pa for their widows. The first j (a deferred annuity), was issm January 24, 1849, and the firassurance policy, for £300, o: life of the original secretary(JI Perry) in Fehruary of the same During that year 30 life polices issued assuring £9450, as well 11 policies for annuities and ments. The income for the ye» £268, and the halance at the ea the year, £96. ® Remarkable Growth ^ The astonishing progress ofB purely mutual company mayl guaged flom the position tg From the modest beginning infi the company has developed uiiijl accumulated funds amount tog 000,000; the income amount® £1,00,000 a month, or £12,000® year. These figures showed tio® A.M.P. was the greatest mututP iety in the' Empire. Every holder was' an owner in the 0% Their operations were confi:.'_-j Great Britain, Australia andljd Zealand, and the society was igj al in character and constitution,® it not only encouraged indl^ thrift, but invested only in &:|| securities. No other organtS existed with so much money in Commonwealth stocks. In tem society's investments in such throughout the Empire amount® no less than £43,882,923. Tht* sufficient money invested in 1 body securities in New Zealandt j§ all claims in this country in otu 1 currency — an amount of fU | 000. f; Possibilities of Endowmen'M It is a pity that the GoverS does not introduce more of t!H surance principle into its ptffl commented Mr. Loenthall, andgj I'illustration of what could he dt» mentioned that for the purptw making bequests he had takeffi policies of £100 each on his litfl behalf of a group of ek/|| philanthropic and charitable i® tions in Australia, so that insttB bequeathing a fixed suni the igj tions would receive the sums afl including the accumulated hc:B and his depenldents would hH prived of no portion of their tance. He had also invested i|| tain sum in Commonwealth the interest on which was sufM to pay the premiums on all tw policies. As another illustratB may be pointed out that Mr. S tliall gives an annual prize •■ Sydney Grammar School afldj|| proceeds of the policy he has*| out on behalf of that institutiB invested would be enough to F:|| the prize in perpetuity. ^ An Optimistic Outlook |j| Mr. Loenthall has no tifflij| croakers and has no hesitation® pressing the opinion that theB ing depression will pass. heen through such periods befjjB declared. They have left sc.ars, hut countries h'ave and we shall do so again. political situation had not h-M that could be desired in h-m I that phase was hehind thenu men now in charge realised ^ had a tough job but they weri ling it. The Commonwealth ^ perienced a splendid winter spring and there was every PIl( of . a good summer. Stock e® lists would show that there w bargains going now and was selling at par. New Zeala/ Australia had plenty of cr/ credit boiled down was confiRecovery would come vhen dence was restored.