A.M.P. SOCIETY.

Press, Volume LXIV, Issue 13098, 24 April 1908, Page 7

A.M.P. SOCIETY.

ANNUAL REPORT

Unitod Prow As.-ociaticn—By Electric Telegraph— K opyri gii t.

SYDNEY, April 23.

The fifty-ninth annual report of tbe A.M.P. Society for presentation at the annual meeting on May Ist has been issued.

The amount of the new business transacted during the year again constitutes a record, being in excess of last year's total by no less than £278,000. Policies to the rumber of 17,797 wore issued, assuring £4,863,553, and yielding annual premiums amounting to £162,183 17s 6d, tho net gain in volume of business in force being as muoh as £2,508,000. In the Industrial department, 16,618 policies were issued, assuring £506,629, with annual premiums of £31,103 12s. Claims by death amounted to £763.991, including £231,253 for bonus additions, the experience in this respect being again exceedingly favourable. The usual searching investigation was made into mortgage securities, and the sum of £5537 has been written off the value of foreclosed properties, eto., the value of offioo premises being afoo reduced to the extent of £21.181. Reference is also mad© to the suit brought by Mr G. R. Campbell to restrain the Board! of Management from proceeding with th© extension of the Society's operations to the Unitod Kingdom. Mr Campbell having appealed to tlie Privy Council, tho caso was heard on February 20th, but at tine date of the report, judgment hnd not been delivered. From tlie report of the actuary. Mr Richard Teece. it appears that all participating policies issued prior to 1903 havo been vahied as heretofore, at 3 J pea- court., while those l issued since that date have been valued at 3 per coat. Tlie amount of cash surplus available for division is £700,812, which will provide a reversionary bonus amounting to about £1,365,000. The rate of expense is again exceedingly moderate, being under 9 poo* cent, on tho total receipts of the year. Tho effective rate of interetrt, realised on investments, shows an increase over the previous year, and now stands at £4 9s lid per cent., a figure admitted to be highly satisfactory. The report contains voluminous returns required by various local Acts of Parliament, and embodies a large mass of valuable and interestins information.