The Daily News TUESDAY, JULY 30. FRIENDLY SOCIETIES.

Taranaki Daily News, Volume L, Issue 60, 30 July 1907, Page 2

The Daily News TUESDAY, JULY 30. FRIENDLY SOCIETIES.

Intci'.sting ini'onmition with regard to the Friendly Societies of tie' colony is eontaiued ill tae annua' report of .he UegUrar presented to Parliament. Th" lotjl number ol during he v.-ar was :ili--.\i.l J.U.0.F.. V, 1.u.1).!-'. -j.. "v.O.F. i L.A.U.U. li, 1.0-Jl. i, U.A.C.H.S. 4, P.A.F.S.A. 2, 1.1-'.S. 2. ihe C.U.O. iodges which i'lirnislied renin.r, lor liiOli are shown to have a i:,,iu'oevship of 0;i,7.")!>, and the total funds amounted to C1,i1.".7.2M, or an average cn|,L.-,l Jier nieiiiber of CHI Lis (.1. fables are also given showing that the Fii-ndly Societies' mi'iiieursliip has during tile twenty years increased at a considerably greilei' ratio than the population, and it is inlerestiug to note that the ainouiV- insnr d in life companies, the Friendly Societies' meuib»rship, and the Friendly Societies' contributions have all increased at almost exactly the same ratio. The report adds that the greater rate of increase ill life insurance premiums as compared with Friendly Societies' contributions is probably due to the appointments of paid canvassers. The tables for this show that although there is now a much langer population th:,n in 1807, each, member of the population now carries (1) greater insurance, (2) pays more in premiums, (i!) more in Friendly .'->-

cieties' contribution;!, (4) ami every Hit) of the present larger population contributes more Friendly Societies' members than w.* the case in 1S(I7. The result as a whole, «ij-s ilie report, discloses a vcmarkabV' increase in tlirift during '.ho period miikr review, of which Friendly Societies' business has had its share. The amount of sickness benefit p.'.iil was £52,003 in lOOli, equal to U-"> Ms til per member sick, or 14s 2d p''r week. The funeral benefit paid amounted lo .C'.USIG, or .'!s Sd per member. The practice of borrowing ibeiiefit funds for lliaingoment expenses, says tile report, shows a | tendency i» increase, and must V e cheeked' as the use of I lie funds for the purpose is depriving the benefit fund of the earning; pouvr necessary to maintain ihe prole, rate which will insure the solvency of the Societies' finances as busfjil on contributions. The funds of the Societies can only be invested in .those fonns of securities specified by the Act and th" rules, and it is the duty of the Registrar to closely scrutinise any investment outside these forms. The borrowing of funds by trustees, no matter on what security, cannot be too strongly condemned, and Societies should in every way discourage the practice. An examination made by the Actuary shows that the mortality of New Zealand Friendly Soeb ty m-mlters is somewhat lower than that of the general population, a result that might have; he n expeetl'd s'eing that, to nioir'.ion only one reason, Friendly Society members fire in n. sense selected lives, who have to pass a medical test before admittance. Further, Friendly Societies' liv's show a lower rate of mortality thnn the population of New Zealand, but a, higher rate than that of Now Zealand assur d lives. Referring to the cases of embezzlement of Societies' funds recently 1 efore £1:0 courts, the report says it i's to lie hoped these cases will hive the ofiVt of bringing home to those responsible for the safogirinllig of lion fit funds til" desirability of providing for a thoroughly efficient audit. " Uegardinu unelas-i----fied societies, their number is given as 404, sports 170. musical 71, social otf, various K!l. There is every indie d ion, .-.ays the report, tint (he number of unclassified Societies will increase, ■and as some of these organisations have considerable funds and property, thp question of imposing in the interest of "ne public some stridor supervision ov"r their business will very shortly require consideration. Section 10 of the Act of 18!1."> authorises the cancellation of the certificate of incorporation should it be found that the. Society is other than an unHassSfied Society, Lift the Act provides no means of acertniriing whether or nut a Society is conducting it operations in conformity with its registered objects.