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THE A.M.P. SOCIETY.

TO THE EDITOR.

Sir, —The paragraph in the Star of the 24th inst. respecting the above-named society is interesting to many of your readers. One thing occurs to me in connection with the magnitude of its accumulated funds (over eight millions sterling)—viz., the smallness of the number of directors at the head office, who have the principal control of this very large sum of money. I do not know what the original number of directors in Sydney was, but at present it is, I believe, only six. Now, although six directors might be ample at first to deal with the society’s funds, it certainly does seem unreasonable to expect any six men, of whatsoever capacity or experience, to manage the enormous amount now belonging to the society in a manner thoroughly satisfactory to themselves and the policy-holders. I do not wish to say one word implying distrust of the directors, either as a body or individually. They are, no doubt, wellknown men, or they would not hold such a position of trust; but I do not think it will be found on inquiry that any other six men, either in these colonies or at Home, have such a tremendous responsibility upon their shoulders. Besides, I presume that the directors have their own Business to superintend, and that only a small portion of their time can be devoted to the society for the L2OO a year each one receives. This gives additional point to the matter j and as

the society is rich, and can very well afford to pay for any number of directors, I would suggest that the question of having an increased number should be raised. If the old proverb “ In the multitude of counsellors there is wisdom ” still holds in these enlightened days, surely the policyholders in the A.M.P. Society have not recently taken the lesson to heart. Is it not time to do so ?—I am, etc., Vox,

Dunedin, May 27.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/ESD18890530.2.23.3

Bibliographic details

THE A.M.P. SOCIETY., Issue 7920, 30 May 1889

Word Count
328

THE A.M.P. SOCIETY. Issue 7920, 30 May 1889

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