A.M.P. SOCIETY NEW BUSINESS,

Evening Post, Volume CXXXIII, Issue 44, 21 February 1942, Page 5

A.M.P. SOCIETY NEW BUSINESS,

The A.M.P. Society's total new business for the year 1941 was £27,939,047 sum assured— an increase of £4,927,392 sum assured over the previous year's figures. The increase over the previous year's figures for the New Zealand branch alone was nearly £1,000,000. INVESTMENT SOCIETY'S YEAR. The Metropolitan Permanent Building and Investment Society's slst annual report as at February 15 states that the directors recom-. mend a distribution of profits at' the rate of 6 per cent, per annum, together with a bonus of 1 per cent., and that the sum of £500 be added to depreciation of securities reserve. "The society has been fortunate in having recovered a substantial amount of suspense interest. As this is a non-recurring item of profit the directors have transferred the sum of £500 direct to the credit of a dividend equalisation reserve account; The society's securities have been insured against war damage under a global policy." The profits for the^year (including a balance of £2202 11s 6d brought forward from last year) amount to £10,513 7s 4d, less expense account, £2052 2s, leaving £8461 5s 4d, less amount written off War Loan, £150, and leaving a net profit of £8311 5s 4d, less interim dividend on A shares\and amount credited B shares at 3 per cent, for six months ending August 15, 1941, £2175 11s 3d. The balance of £6135 14s Id, the directors propose to appropriate as follows :—To credit holders B investment shares at 3 per cent, for six months ending-February 15, 1942, plus 1 per cent, bonus, £582 12s 8d; to payment of dividend at 3 per cent, for six months ending February 15, 1942, plus 1 per cent, bonus to holders of A shares, £2400; to depreciation of securities reserve, £500; and to carry forward to next year £2653 Is sd. Regret is expressed at the death of Mr. A. Longmore, a member of the board since 1933. Mr. J. R. Bennett was elected to fill tlia vacancy thus caused.