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1925. NEW ZEALAND.

FRIENDLY SOCIETIES AND TRADE-UNIONS, FORTY-EIGHTH ANNUAL REPORT BY THE REGISTRAR OF FRIENDLY SOCIETIES FOR THE YEAR ENDED 31st DECEMBER, 1924.

Presented to both Houses of the General Assembly pursuant to the Friendly Societies Act, 1909, Section 9, and the Trade-unions Act, 1908, Section 16.

The Registrar of Friendly Societies to the Hon. the Minister. Sir, — Wellington, Ist July, 1924. I have the honour to submit herewith, in accordance with the Act, the annual report of this Office for the year ended 31st December, 1924. I have, &c., William M. Wright, Registrar of Friendly Societies. General. That the popularity of the friendly-society movement in New Zealand is increasing is proved by the fact that the net gain in membership during the year was 3,205, or 3-81 per cent., on the figures for the previous year. The total accumulated funds of all registered societies increased by £207,388 during the year, the average capital per member being £33 165., as compared with £32 12s. 6d. for the year 1923. The total interest-earnings of the Sick and Funeral Funds for the year was £138,607, or a rate equal to £5 12s. 7d. per cent., as against £5 10s. lOd. per cent, for the previous year, showing that advantage is being taken of investments at current rates of interest. The mortality-rate declined from 8-29 to 8-09 per thousand members at risk. Sick-pay per member sick increased from £6 10s. Bd. to £7 3s. 9d., whilst contributions and interest earned per member rose from £3 7s. to £3 Bs. Bd., the whole representing a net gain per member of £2 os. 5d., as compared with £1 13s. 2d. for the previous year. Prosecutions. The failure by some societies to render the annual return required by the Act is the cause of considerable additional work being thrown on the Department. Repeated requests and warnings are issued to delinquents before prosecution. Proceedings under the Act were taken against two societies during the year, the maximum fine of £20 being inflicted in one case and £5 in the other case. Complaints have been made of delay in making valuations, but on investigation it is found, almost invariably, that the fault lies in the neglect of societies to supply the information required by the Actuary promptly. This applies especially to consolidated societies.

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