EL—l

5

Therefore the annual contribution for— £ s. d. £18 at death of member = (') increased by four-fifths = ... ...058$ £12 at death of member's wife = ( g ) increased by one-fifth = ... 0 2 7 10s. a week for all sickness = ( h ) divided by 2 = ... ... ...18 0$ Total ... ... ... ... ... ... 1 16 4 The four-weekly contribution, not involving fractions of a penny, which a member aged 30 at admission should therefore pay for these benefits is found by dividing the total of the annual contributions by 13, the result being 2s. 10d. In like manner the contribution may be ascertained for any group of similar benefits at any age within the limits of the table. 24. In determining a standard which is derived from the experience of a large number of societies it is not to be expected that henceforth each separate group of members will exhibit uniform rates of sickness and mortality. Indeed, if the lodge is taken as a unit, the membership is generally far too small, even if all other things are equal, to yield average results. Recognising this, societies having affiliated branches have advantageously spread the funeral benefit liability over the wider area of the district. Pew societies, however, have applied a similar method to the sickness benefit. Whatever objections may be offered to the centralisation of sick funds, it should be clearly understood that under the existing system small lodges are exposed to a special and serious danger, and that the greater the ratio of the chronic sickness benefit to the full sick pay the greater is the element of financial instability. 25. Valuations were made as on the 31st December, 1896, of the following societies : — Societies with Branches. M.U.l.O.O.P.—Auckland District, 11 branches; Wellington District, 15 branches; Marlborough District, 2 branches; Motueka District, 4 branches; North Canterbury District, 14 branches. A.O.F.—Wellington District, 27 branches. Societies without Branches. A.O.S.—Sanctuary Sir George Grey. U.A.O.D. —Bud of Hope Lodge, Star of New Zealand Lodge, Ivanhoe Lodge. The Ivanhoe Lodge was valued by Mr. Peter Black. All the other valuations of the year were made in the office of the Begistrar. 26. The total sickness of the societies valued in the office experienced during the quinquennium preceding the valuation date was 15 per cent, in excess of the expectation, the excess in the after-twelve-months sickness being 79 per cent. The total sickness per death was 230 weeks, and the sickness per death of members above forty years of age was 255 weeks. 27. Summarised results of the valuations are given in two tables (Appendix V.). Table A shows— 1. Number of members at the date of valuation ; 2. Present value of benefits ; 3. Present value of contributions to benefit funds; 4. Value of accumulated benefit funds ; 5. Surplus or deficiency ; 6. Average surplus or deficiency per member; 7. Average age of members; 8. Average annual contribution, per member, to benefit funds; 9. Average value, per member, of accumulated benefit funds : 10. Sate of interest, per annum, credited to benefit funds (average for quinquennium); 11. Surplus or deficiency at previous valuation (average per member). Table B shows— 1. Eatio to liabilities of— (a) Present value of contributions to benefit funds; (b) value of accumulated benefit funds ; (c) total assets; (d) surplus or deficiency. 2. Causes of surplus or deficiency. For convenience of publication, the causes assigned for the surplus or deficiency disclosed by valuation are indicated in Table B by means of letters, referring to a list prefixed to the table. 28. Societies, on application to the Eegistrar, may have their valuations made free of cost. The experience of the societies valued in the office as at the end of 1896, for the quinquennium preceding the valuation date, represents 33,071-5 years of life at risk. This experience has been grouped with that published in tabular form in last year's report, and the combined results are exhibited hereunder.

Sickness and Mortality Experience of Societies valued in the Office (Men Members only).

Sickness (Weeks). Number of Deaths. I Age of Members. Number of Years of Life at Bisk. First Six Months. Second Six Months. After Twelve Months. Total. Of Members. Of Wives. Jnder 25 S5-30 50-35 S5-40 10-45 15-50 >0-55 15-60 i0-65 15 70 '0 and upwards .. 16,889-0 17,560-5 17,059-5 15,733-0 12,545-5 9,643-0 7,271-5 3,966-0 1,864-5 660-0 437-5 11,821 11,117 11,524 11,588 10,909 10,850 10,548 6,401 3,663 1,629 1,381 777 752 911 909 1,253 1,427 1,967 1,385 849 407 755 1,041 942 2,180 1,940 3,720 5,616 6,610 7,033 6,086 4,813 7,322 13,639 12,811 14,615 14,437 15,882 17,893 19,125 14,819 10,598 6,849 9,458 80 79 85 73 66 80 106 77 28 24 28 13 37 55 68 69 46 61 31 21 12 10 All ages .. 423 103,630-0 91,431 11,392 47,303 150,126 726