FRIENDLY SOCIETIES.

Evening Star, Issue 7197, 27 April 1887, Page 3

FRIENDLY SOCIETIES.

IFROM CUB PABUAMBN*ABY RSTOBTKB.J

WBLLINGTON, April 27.

The RegistrariGeneral's annual report of the Friendly Societies haa been laid before Parliament. The Registrar says inter alia ; Reference has been repeatedly made in the pfßcia] reports of past year* to the insufficient rates of contributions which are oharged by Some aooietiea, bat so long as the valuation summary for the year continues to exhibit so conspicuously aa the prevailing cause of defloienoy, "inadequate contributions," the repetition of former warnings is rendered necessary, To all who are about to join a friendly society the advloe is given that they should make their selection from Smong those whioh are sound in prefflrenoe a one that Is oheap. It is possible that many persons are under the impression that registration implies an offloial oertifloate of assurance as to a society's financial position. It may be well, therefore, to state that suoh exclusive registration is not provided for in the Aot, nor indeed, although desirable under certain conditions, would it be generally advantageous under S resent circumstances. The amount paid uring the year to secretaries for furnishing statistical returns was Llf4 10s, and the cost of the valuations was L9OO lss. The Registrar has much pleasure in testifying to the care which secretaries generally have taken in making out the annual returns, and to the promptness and courtesy with which thev have complied with his request for necessary information. The total number of registrations during the year was thirtyseven, vis. :-Manchester Unity, 7 lodges; 1.0.0. F., 4; M.U.T.0.0.F., 1 district and 2 lodges: A.0.P., 6 courts; Druids, 2; Kechabites, 0 tents; H.A.C.8., 6 brauches; P.A.F.5.A.,1 lodge; W.M.C.,lclub; specially authorised Society, 1. There were in 1885 302 lodges in existence of the various Orders, and the total nUmber of member* at the end of the year was 22,791. The following balance-Bluet gives their total funds (including those of the central bodies) as at the 31st December, 1885:-Funds; Sick and funeral funds, L235.61415s 6d; medical and management funds, L 23,806 2s 9d; other funds and property, L 12.843 2s 4d; total, L 322.264 Os 7d. Assots: Investments at interest; L 192.598 18s sd; value of land and building?, L100J72 6s Od; cash not bearing interest, L18.08418s lOd; value of good*, L 9.615 Is; other assets, L1,39i 15s 7d; total, L312,2G4 Os 7d. The total amount en doposit in tho savings hanka and other institutions is set down at L 192.398, the average rato of interest being 7 per cent, frpeaking on the question of valuations, the Registrar-General says:—"lt would appear that in some societies tho majority of tho members are utterly indifferent to tho fact that their liabilities are considerably in excess of their assets. In 'the days of statistical darkness,' that societies should drift lgnorantly into insolvency was a misfortune; bin that societies in full view of their danger should make no effort to avert it is a crime. If, therefore, two consecutivo valuations of a society shall have been made, and a deficiency shall have resulted on each occasion, and if the valuer in each of his reports shall have stated that the rates of contribution are inadequate to meet the promised benefits, and the society shall have neglected to take any stops to reduce the deficiency shown, tho Registrar o .mhlch that it will be Mb duty to recommend that the Government wi. hdrawjche undertaking to defray tho expense of any subsequent valuation of such society duo under the Act until the valuer s advice shall have been adopted. In providing for the cost of valuation, the Legislature has retognised the importance of letting in the light upon friendly society finance in the interests not only of members, but also of the community at large; and it certainly is not intended that valuers' reports should be treated as so much waste paper, or that societies whose liabilities exceed their assets should continue to promise benefits which there is no reasonable expectation that they will be ab!o to pay, without some strong protest being entered againßt the dishonesty of such a course, as well as against the wilful disregard of the actuarial advice placed gratuitously at their disposal.