Page 4 Advertisements Column 2

Auckland Star, Volume XXII, Issue 91, 21 April 1891, Page 4

-m/rUTUAL T IFE ASSOCIATION OF (Established 1869, and incorporated by Act of Parliament). Report of the Directors; for presentation at the Twenty-second Yearly General Meeting-, called for MONDAY, the 20th April, 1891. The chief features of the past year's operations are a large increase in the Revenue, satisfactory Retention of Businoss, and a remarkably favourable Mortality experience. New Business has accrued as follows :— The Proposals numbered 3,421 for Bums amounting to .. .. .. .. •• £858,730 7 Of these. 969 were doclined, not taken up, or aro in course of n n completion for ____^______ Leaving __ 2,452 Proposals accepted and completed for .. .. 596,335 7 0 To which adding .'. .. 157 accepted prior to 3lßt December. 1889, and Since completed, for 36 - 175 ° ° Givesa total ot 2,609 Policies issued during tho year, for £632.510 7 0 Tho classification of these Policies under the usual headings is :_Assurances 2,4231 for £599,420. and Endowments 134 for £32,934. The new Annual Premiums accruing "I°™/™™ amount to £21,402 19s. aud the other two Policies are Immediate Annuities amounting to *iao .8 per annum. Tho Policies of tho Association in forceon3lst December, 1890, were :— 15,791 Assurances, amounting to .. .. £4,144.007 11 2 979 Endowments 145,654 0 0 22 Annuities 593 3 0 Total .. 16,792 Policies, amounting to.. .. .. £4,290,254 14 2 Producing an Annual Premium Income of '.. .. £147,100 14 9 Tho Annual Intore.t on Investments being .. .. £47.909 4 0 Tho Total Yearly Revenue is over £195.000 0 0 The disturbed relations between Labour and Capital, coupled with unusually severe floods in several colonies, rendered this a difficult year in which to extend Life Assurance business; so that the above, being beyond tho average of tho Association s Annual Returns, must bo taken as evidencing continued confidence in tho Association on the part of tho pubhe.as well an zeal on the part, of tho officer, and agents, and also no abatement in the Directors careful selection of lives. The Mortality Statistics record only 96 deaths, involving claims for £30,382 19s undei lio Policies, being very considerably below the-exiectation.'' .... , _,!...», t u av Three Annuities have either by Heath or the expiry of the terms for which they "■.'he New Principal O/llce was opened with considerable ceremony on the 4th September last, and seems likely to fully realise the Board's anticipations in every way The retiring Directors are Samuel Dickenson, Esq.. and the Hon. J. N. Brunker. M.L.A. (who was appointed in July last, in room of the Hon. J. B. Watt. M.L.C., resigned owing to absence in England). Both havo given the requisite notice, and aro the only candidates for elootion. Mr A IC Harper is eligible for re-election as auditor, and has given due notice. The Directors havo to record, with great regret, the death of the Hon. William Reeves, M.L.C., Chairman of the Chrlstchurch Board. m__..iThe Actuarial Investigation, to take placo as at 31st December next, will, it is confidently expected show good results for tho two and a half years ending on that date; and an effort will be made to have tho Bonus Certificates ready for issue at the Yearly General Meeting following iB 'sTdn-y. 9 7th April. 1891. SAM. DICKENSON. Chairman. BALANCE-SHEET OF THE MUTUAL LIFE ASSOCIATION OF AUSTRALASIA ON december 31. 1890. Liabilities. Assets. Total Funds as per Revenue Loans on Mnrtgago .. .. - £ ®5.m l o I Account £797,778 15 4 Loans on Policies of the Association 109.047 8 2 Claims (included in Revenue Ac- (within their Surrender Vulue) count) admitted or announced. Loans on Personal Security .. nil and in course of settlement .. 7,100 0 0 Debentures 3„»2 . V Outstanding Accounts, ditto ditto 4413 0 6 Freehold Property 243,945 3 3 Leasehold Property 6,574 17 10 Cash on Deposit and on Current Account 12.043 7 1 Interest and Rent Accrued.. .. 8,976 19 11 Branch and Agency Balances .. " nil Outstanding Premiums .. nil OfHce Furniture and Fittings (reduced valuation) 4.919 0 0 ..805.626 15 10 £805,626 15 10 J. C. REMINGTON, General Manager and Secretary. We the undersigned hereby cortify that we have examined tho above accounts, and compared them with the boons, vouchers, mortgage deeds, debentures, and other securities of the Mutual Life Association of Australasia, and that we And them all correct; also, that we havo made as usual a regular monthly audit of the books of the Association. A. EDWARD HARPER,! Al . dltor . JOHN D. EWENS, J- Auditors. NEW ZEALAND: Head Office, 30, Queen-street, Auckland.

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