FRIENDLY SOCIETIES.

Temuka Leader, Issue 1389, 8 September 1885, Page 3

FRIENDLY SOCIETIES.

The eighth annual report of the Registrar of Friendly Societies has been presented to Parliament. The Registrar remarks : “ Each complete valuation shows a deficiency, and the causes assigned by (be valuers as productive of this unfortunate state of affairs are the same as they have staled previously from time to time in their reports, the principal being insufficiency of contributions and negligence in regard to the investment of funds. Whatever advantages are possessed by friendly societies in this Colony, in respect of the health and longevity of members as well as in respect of high rates of interest obtainable, it would appear that far too high an estimate of these advantages was taken when societies were first established in New Zealand ; and although many societies have since raised their scale of contributions, a long lime must elapse before a sound position can be regained, even under favorable circumstances and with the most careful management. But when the valuation reports from year to year still continue in many instances to show negligence in regard to investment of funds, as well as inadequate contributions for the benefits promised, the deficiency which results is not only to be woudered at, but must be looked for as the natural consequence of the position.”