Page 3 Advertisements Column 1

Evening Post, Volume XXII, Issue 131, 3 December 1881, Page 3

AUSTRAI IAN MUTUAL PROVIDENT SOCIETY. Head Office-89, Pitt-street, Sydney. THE C LDEST MUTUAL LIFE OFVTOt: IN AUSTRALIA. In the report of the proceedings at the Twelfth Annnal Mepting of the National Mutual Life Association (Victoria), printed a^ an advertisement in the S. M Herald of the 23rd November, the fallowing occurs with respect to the (application of the principle that a policy could not lapse while it had a surrender value :—": — " He (the Chairman) conten led that . . . the idea now carried out by Mr. Black waß tbat the policy would bo kept alive so long aa it hod a cash or aurronder value AFTER IT HAD BEEN ENDORSED. . . . They could see at once the difference between the two officeß." The Direotors of the Mutual Provident Society wish to announce, for the information of the members, that THIS STATEMENT IS UNTRUE; no endorsement ia or ever has been required to entitle a member to the benefit of this liberal provision. As to the originator of this scheme, the following disinterested artiole from tho Commercial World (London, of Ist September, 1881, will probably be doomed conclusive : — " It will be seen from the report «f the speech of the chairman of the National Mutual of Victoria, given elsewhere, that the question is debated as to with whom the p rinciple originated of applying the surrender value of a policy to keep it in force till the valne is exhausted — in plaoe of the ordinary method of allowing the policy to drop ou the assured failing to pay the premium due at any given quarterly, halfyearly, or annual period, as the oaae may be. The question is whether the idea was first started by Mr. Black, the well - known actuary of tho Australian Mutual Provident Society, or by Mr. Templeton, of the National Mutual. The matter is debated with muoh tenacity by Mr. Alderman Moubray, the chairman of the National Mutual, who, with great chivalry, champions Mr. Templeton' b claim to be regarded as the originator of the idea. Bnt, unfortunately for his case, he quotes from a prospeotus of the I ondon and Yorkshire, entered at Stationers' Hall in 1861, of which Mr. Black waa then the actnary, and the passage quoted ia as follows :—: — " ' Polioyholdera will not be in flanger of having their policies forfeited from accidental omission, or inability to pay the premium, as tho company undertake to keep the assured protooted as long as they have a cash or surrender value in hand.' " Now. as Mr Templeton was not connected with any insurance company till 186-<, when he started the society of whioh he is the actuary and secretary, in whose prospeotus the principle of keeping policies alive by moans of the surrender value is embodied, it follows that ho was seven yeirs later in tho field than Mr. Black with the principle or idoa, and cannot therefore maintain hia claim as the originator. The contention of Mr. Alderman Moubray to the effect that because the London and Yorkshire was transferred to the Whittington, and hence ceased to exist, that therefore it never had a prospeotus or any special principle embodied therein, is a kind of reasoning whioh we shall content ourselves by Baying we decline to accept. The dates given are conclus ye on the point against Mr. Moubray's contention It is admitted that Mr. Templeton was the first to introduce tho principle in eoaneotion with an Australian sooiety, and with that he might well be content. But it was shortly afterwards, that is to say, in 1873, applied by the Australian Mutnal Provident Sooiety, and in connection therewith I has been made known not only throughout the Australian colonies, bnt also in Great Britain and America. THIS GIVES Mr. BLACK A DODBLE CLAIM; FIttST, AS THE ORIGINATOR OF THE IDEA, AND SECONDLY, AS IT-! POPULARISER. We have, however, to admit, that popular as the principle is in the Auatra'ian colonies, it has as yet, bo far as we a^e aware, no plaoe in the proapeotußes or deeds of our home companies, whioh we oannot help thinking is muoh to be regretted." PRIMITIVE METHODIST CHURCH, Stdnet- strxet. ANNIVERSARY SERVICES Will be held SUNDAY NEXT, thb 4th DECEMBER. SBRMONS : Morning, at 11, by Rev. D. Dutton. p:vening, at 6.80, by Rev. J. Paterson. TEA MEETING ON TUESDAY, 6th DECEMBER. Tea on tables at 6 p.m. Tickets, 1b Cd. Public Meeting at 7.30 ; Chairman, Mr. J. ¦ Kitchen. Addresses by Ministers. Anthems by Choir. PREACHING SERVICES Bt Mr. EDWARD LEWIS, TO-MORKOW (Sunday) EVENING, at PRINCESS THEATRE, Tory-street, Subject— " This Good Confession." On Tuesday Evening— Kaiwarra Schoolroom, at 7.30. On Thursday Evening — Karori (old Sohoolroom) at 7.30. ORESTERS' HALL, TORY-STREET. Mr. SANDEMAN will (D.V.) Preach the Gospel TC-MORROW EVENING, At 7 o'clock. Seats free. No oollection. THE PAROCHIAL ASSOCIATION OI ST. PAUL'S, WELLINGTON. T AST CONCERT OF THE COURSE JLJ (In aid of tke Library Fund), ON THURSDAY NIGHT, Ith DECEMBEB At 8 o'clook. ST. PAUL'S CHURCHROOM, Tinakori-road. The Programme, consisting of Part 1 S&cred, Part 11. Secular, will be duly adv«i tistd. Ticket, Is ; the course ticket is available Note. — Tickets for this Concert oan be ha from Messrs. Lyon and Blair'B, Reiohardt'i Wobley's, D. Anderson's, and Barraud's aho fr»m members of the Association. L. HALLIWELL, Hon. Sao.