NATIONAL MUTUAL LIFE ASSOCIATION.

Evening Post, Volume LXIV, Issue 149, 20 December 1902, Page 5

NATIONAL MUTUAL LIFE ASSOCIATION.

<D, ANNUAL MEETING.' [VRES3 ASSOCIATION .1 (Received .December 20, 9 a.m.) MELBOURNE, This Day. At the annual meeting of the National Mutual Life Association, the highly sati&.'actory report of the directors was adopted. The principal features of the year's transactions wero increase of new business, the increase of funds, the saving of exponces, and tho continued high rate of interest in investments. The retiring directors were re-elected. The following cable message has been received by the local Secretary: —"The annual meeting of the Association was held at Melbourne yesterday, Colonel Tcmplcton, C.M.G., managing director, pre&ided. In moving the adoption of the report and brlanc6-sheet the Chairman congratulated the members on the remarkable increase in new business, which amounted to no less than £1,717,552, being £350,000 more than last year. The total funds now amount to over £3,500,000, all safely and profitably invested, yielding interest at an average rate of 4$ per cent. The. annual income is now over £530,000. The saving hi expenses for the year, notwithstanding the large volume of new business, was over £3000, and the indications for the future <n*e- particularly bright. Tho report was unanimously adopted, and the directors and mamtgtimeiifc heartily congratulated." The local directors for the Association are Messrs. A. E. Pearce (Chairman), N. R«id, and W. Fraser, M.H:R. Mr. Orton Stevens is the Resident Secretary for the colony.