FRIENDLY AND OTHER SOCIETIES

Dominion, Volume 1, Issue 303, 16 September 1908, Page 7

FRIENDLY AND OTHER SOCIETIES

THE REGISTRAR'S REPORT,

The thirty-first annua] report of the Registrar of Friendly Societies states that the total number of registrations during tho year was 23.

The number of members of the 516 lodges in the Dominion is 56,817. The total funds amount to £1,118,216. The average capital per member is now £19 13s. 7d'.

A comparison with the Australian States is greatly in favour of New Zealand. The number of members sick during 1907 was 10,896, equal to 21.29 per hundred members at risk. There was an increase in tho death rate.

In his last report tho Registrar drew attention to the importance of tho close investment of funds, and he now says:— "An improvement might readily be effected by reducing amounts held on current account. in some districts and lodges tho sums so beld aro out of all proportion, to requirements, and, seeing that the Post Office Savings Bank is available ou special terms for societies, it does not reflect much credit oil the part of those responsible that the funds should bo deprived of the interest earnings, so necessary to insure future benefits to members. I cannot," adds tho Registrar, "but reiterate tho desirability of establiphing 'centralised investment fluids, tho benefits of which in those dictricts where they have been set up aro constantly coming under tho notice of the Department." The report makes special reference to the important condition of sound financo, which is now engaging the attention of all who are interested in the future of friendly societies. "It is interesting to note," says the Registrar, " that compared with New Zealand several of the Commonwealth States have in force much more drastic legislation, not only applying to future registrations, but to societies already registered. It is doubtful, however, he' adds, whether the, desired effect is attained by at' once adopting extreme compulsory measures, and the recent disclosures in a. Stato which has more stringent laws than New Zealand on this subject aro not encouraging to_ those who expect complete reform by passing an Act of Parliament. Tho societies in New Zealand have in recent years improved in this respect, and there is now an almost general desire in the leading orders to take up tho question in earnest, a result largely due to the lesson of actuarial valuation and its undertaking by the Government free of charge. Those societies tbat have improved their position and adopted sound scales of contributions are now entitled to such protection as the State can give them from competitors who, without regard to the financial liabilities they are incurring, offer benefits for which adequate provision has not been made. Tliero appears to be a disposition in some of the Dominion friondly socioties to adopt tho uniform death lovy or assessment for nigh funeral benefits, and a note of warning is sounded on the unfinaueial character of the system." A report by tho actuary is appended. From this it appoars that several old lodges in Now Zealand have already arrived at the stage wliero tho outgo for benefits is in oxcess of tho contribution incomo. Two instances aro mentioned ( but in each caso tho lodgo is solvent, showing tho wisdom of accumulating a fund in tlieir_ earlier years. Tho actuary says that ill-advised investment of benefit fund money in halls has been a stumbling-block to many lodges.