The Widows' Fund Society.

Cromwell Argus, 13 March 1905, Page 5

The Widows' Fund Society.

That well-known and popular Life Insurance Society, the Australian "Widows' Fund has lately entered into possession of a new building in Wellington, where the N.Z. headquarters of the association are situated. Last Friday the buildings were officially opened, a large gathering of leading men in mercantile circles being present at the function. Mr Aitken, M.H.R., chairman of the N.Z. directorate presided. Sir Joseph Ward proposed the toast of the day, namely, " Success to the Australian Widows' Fund," in a happy and complimentary speech, stating inter alia that the society was run on co-operative principle*. The Hon J. M. Pratt replied at length, quoting figures to show the wonderful progress made by the society. The following figures give some idea of its growth and present position : £ s .1 Premium revenue for the year . . 175,195 13 9 Revenue from interest 72,134 IB 1 Revenue from all other .sources . . 8,541 15 9 Total .. 255.872 5 7 The amount of the funds as per balance sheet is 1,685,082 The amount required to provide for the society's liabilities is . . 1,603,824 Showing a surplus of .. X 81,258 Add Prospective bonuses already paid on policies which terminated during the three years by death or by the maturity of policies .. 4,211 And the amount standing at the credit of the realisation account . . 10,949 In all .. .. .£96,418 This is the surplus of the three years. The following comparison will illustrate the position :--- Annual Date Period Surplus Av'r'ge Oct 31, 1899 3vrs 63,367 21,122 Oct 31, 1901 syrs 106,586 21,317 Oct 31, 1904 3yrs 96,418 32,139 Apart from prospective bonuses and surplus on the realisation of securities, the figures are as follows : Annual Date Period Surplus Av'r'ge £ £ Oct 31, 1899 3yrs 56,962 18,987 Oct 31, 1901 syrs 90,724 18,145 Oct 31, 1904 3yrs 81,258 27,086