Page 4 Advertisements Column 3

Dominion, Volume 1, Issue 92, 11 January 1908, Page 4

RATIONAL MUTUAL' LIFE ASSOCIATION. ANNUAL MEETING OF SHAREHOLDERS. — : ' I The thirty-eighth' annual mooting of the shareholders in the National Mutual Lile Association of> Australasia was held yesterday, at the offices in Collins Street. Mr. A. Newell, J Vice-Chairman, presided, in the absence - through illness of the Chairman, Colonel Teinplcton. In moving tho adoption of the report and - balance-sheet, tho Vice-Chairman congratula- f ted tho shareholders oh tho magnificent results shown.in tho statement of nccountfl, winch had I been presented to them. In explaining tho ) financial position of the Company, ho said:— .] "1 Jiave, the ploasing duty of announcing that ( this year' fcstablishes a new record, as for the first time in tho history or the Association the amount of comploted new business exceeds .£3,000,000, while tho, total' income for the year was ,£893,258, an increase over that . xof the preceding one of £74,465, n the amount added to tho funds was .£365,93.., ; or ■£82,713 more than last year. If you,will refer to the statement of accounts before, you ' you will 'nbte that the income, from premiums has been 4G49,407, and from interest and rents . ,£217,142, respectively iE69,051 and .£12,100 more j than last year. The amount wo have received from our investments represents .£4 16s. Gd; per cent, of the mean funds for.the year, ■ or deducting tho rates and taxes paid, .CibJV or «£952 more than in 1006, the net ainount.t9. ,£4.133. 2d. per cent, of the mean funds. Now, taking the other side of the < account the amount paid to members or their 'representatives aggregates .£374,668. This amount is . less than last year by <£20,924, due P ar My a more than usually favourable, mortality amongst: the lives assured. . The expenses, as compared with last year, are a lower percentage of the premium; income. A 1 large proportion of tho expenses, more tnanvnait, are incurred directly in obtaining-new business. This expenditure is much of the nature of an 'investment. It is spent . with the object of extending thG Business of the Association, and of lnci-easmg- its revenue. Once the business is obtainecl tue expense does not recur. It is paid entirely out of the first year's premium. Our new . .premises are moro than 1G per cent, of the total premiums received during the year. inis 1 is an unusually large percentage, and is, ot , couj'so, due to tho very large amount of new business we-have transacted. If we take the ] hew business as costing ten .times as much as the old, then the ordinary fxpenses of manage- j mcut are - only a little more th{in 9j per cent, of the- renowal premiums received. Both new . business and' management, expenses are lower ] in proportion to the business done, than tliey , wore in 1906. The assurance fund amounted, at the end' of; the year, to ,£4,844,002, or ] ,£305,932 more than it was a year ago, and . ■£3,000,000 moro than it was ten year's ago. In , tho balance-sheet you will note the investment J fluctuation fund, which now stands at £84,414. i This is a, fund that Was put aside more than ; ten years ago to provide for possible fluctuu- -' tions in investments of the Association. .Some ] of it was appropriated. to' specific investments, ; many of which have since been realised, and . the realisation litis been so favourable that it was nbt necessary ,to draw oil the fund to I any extent, and it is still jiractically intact. , I, wish to draw your attention to the liquid assets held in the form of Government and municipal securities, .amounting,, as shown in the first throe items, to ~£378,323, as compared with ,£237,151 last -year. With regard to properties acquired by foreclosure now standing at .£110,639, I may remark that tea years ago this item amounted to .£148,000, and it'was ,£6OOO more a year ago than it now appears. The realisations havo, in most cases, been very favourable, and most of tho [properties now held are returning good interest. The year's figures now before us are evidence of a; remarkable growth, but to realiso the wonderful development of our business we must look further back. Ten years ago our new business was little moro than third of what it now is, and during that ten years ive have increased our \annual incomo by over .£IOO,OOO. Wc liavo paid'to our. members or their representatives over nnd wo havo added to the ( invested funds of tlio Association ovor £2,00(1,000 during that time; • Mr. W ; H. Irvine, M.P., seconded the motion, which wan-carried unanimously. Mr. A. Newell "(director); and Messrs; •A. M. Talontino and W. G. Tulloch (auditors), ; wcro re-elected unopposed.—Melboiirno "Age." .December 20. ' , . ' ' • . - G6SI i - - • ■ ' MONEY TO LEND. ■ •"O OBERT COOK, „ Solicitor, 113 Lambton Quay, has MONEY TO LEND, from sums of £100 and upwards,; at Current Rates. , C64S " S' MONEY TO LEND. ' TO H. P U T N A M, 1 . SOLICITOR, ' Routh's Buildings (First Floor), : FEATHERSTON' STREET, WELLINGTON. •■■■-• 'cm ' C. 11. HOW ARTE, (PIVIL ENGINEER AND LICENSED SURVEYOR, Union Bank Buildings, Hunter Street. . 5513 gULKLEY. AND DIDSBURY, Dontal Surgeons. , 91 WILLIS STREET, WELLINGTON. . Telephone.No. 216. , C 603 RICHMOND AND NEWTON, HARCOURT'S BUILDINGS, WELLINGTON. SURVEYS of all kinds effected with. Accur--1 ncy, Promptness, and Lowest Cost. SURVEYORS AND ENGINEERS. 625' LEGAL. MB; D. M. FIND LA Y, BARRISTER & SOLICITOR (lately of the firm of Findlay, Dab.iell and Co.), Has Commenced Practico oh his own account at Offices in W. IT. Turnbull and Co.'s New Buildings, opposite D.1.C.; No. 5 Panama Street, Wellington. - C 720 JJOGGARD AND PROU SE, ARCHITECTS, * UNION BANK OF AUSTRALIA BUILDINGS, HUNTER STREET. • 637 HAMERTON, ' ANDREW, AND WEBB, ■ Barristers and Solicitors, 6 Lambton Qliay, Wellington (nexli Batik of New Zealand), havo MONEY TO LEND on Freehold Security at Lowest Current • Rates of interest. Right of repayment during term can bo arranged. Note.—Mr. Webb visits Upper Hutt every sale day and court dav. ' . C 596 NEW ZEALAND BIBLE, TRACT, AND BOOK SOCIETY, 63 WILLIS STREET, WELLINGTON. Now Arrivals. New Editions. Palestinian Bible in great varioties, full of Coloured Pictures. Common Prayer and Hymns, several hundreds. Annuals. Annuals. Reward Books (5000), como in from 6d. to 55., 65., etc. ,V Christmas Cards and Presentation Books. 6248 : ' " THE DOMINION.'^ TO ADVERTISERS.' I ' "8"T is necessary that ALTERATIONS for Standing Advertisements should be received at the Office, 29 Willis Strcot, before ' 12 noon, to ensure change, being made in the | following day's issue. Alterations for Monday's issue must bo received on Friduy. Address all •communications to THE MANAGER. Temporary Offices: 29 Willis Street. Telephone: 2G44. 5239 im The empire hotel (LIMITED). o THE LEADING AND MOST CENTRAL , HOTEL IN WELLINGTON. 8 E. W. SOFIELD (Lato of Coker's Hotel, Christcliurch), Manager.