THE A.M.P. SOCIETY.

Wairarapa Age, Volume XXX, Issue 8440, 11 May 1907, Page 6

THE A.M.P. SOCIETY.

United Press Association—By Electric Telegraph—Copyright. SYDNEY, May 9. The 58th annual report of the A.M.P. Society for presentation at the annual meeting of members on May 17th has just been ids-ued. The amount of new business was extremely satisfactory, being in excess of any previous year in the society's history. Policies to the number of 17,122 were issued during I [ the year, assuring £4,585,436, and I yielding annual premiums amounting j to £158,331 17s 4d; the net gain in the volume of business in force being no less than £2,340,193. In the industrial Department 15,3(55 policies were issued, assuring £405,957 with annual premiums of £24,295 9s Bd. The claims by death amounted to £729,971, including £220,711 for bonus additions, the experience in this respect being once more remarkably favourable. The usual searching investigation was made into the mortgage securities, and a sum of £7,997 has been written off the value of foreclosed properties, the value of office premises being also reduced to the extent of £17,350., Reference is made to the suit brought in the Equity Court of New South Wales by Mr G. R. Campbell to restrain the Board from proceeding with the - , extension of the society's operations to the United Kingdom, and to the fact that the case is still sub judice, Mr Campbell having appealed to the Pi-ivy Council against the decision of the Court, which was in the society's favour. From the report of the actuary, Mr Richard Teece, it appears that all participating policies issued prior to 1903 have been valued as heretofore at 3£ per cent., while those issued since that date have been valued at 3 per cent. The amount of cash surplus available for division is £664,693, which will provide reversionary bonuses aggregating about £1,200,000. The rate of expenses is as usual on a moderate scale, being under 9 per cent, on the total receipts of the year. The effective rate of interest has been well maintained, and stands at the highly satisfactory figure of £4 9s 7d (per cent. Ine report as a whole is one of the most satisfactory ever issued by the society.