The Financial Position of Friendly Societies.

Feilding Star, Volume X, Issue 79, 8 January 1889, Page 3

The Financial Position of Friendly Societies.

The financial statements for the past year have just been issued by the Ancient Order of Foresters and the Manchester Unity of Oddfellows, the two great affiliated societies, whose members exceed a million in number. The total accumulated capital of the Foresters on the S Ist of December last was £3,760,114, of which £3,109,992 belonged to court, sick and funeral funds. These figures show an addition of £167,931 to the reserve capital during the year, although £456,798 was paid away for sick benefits and £105,140 for funeral payments on the death of members. The income last year was £701,660 of which £588,746 was from members' subscriptions, and £105 SO2 from interest on invested capital. The members to whom these funds belonged numbered 599,435. The Manchester Unity, which received returns from lodges with 553,352 members on the same date, possessed accumulated funds amounting to £6,806,736. Of this £6,121,395 belonged to the sick and funeral funds of 3,578 lodges, and £176,284 to district funeral funds, and £341,355 to widows' and orphans' funds. The increase during the year was £222,507, and £535,989 was paid during 1887 for sick benefits, and £208,723 as funeral and other paymants on the death of members. The income last year was £666,712, of which £650,296 was derived from members' subscriptions, and £231,747 from invested capital. These figures show the two societies paid £1,305,650 last year in benefits, and added to capital another £390,438, and their total reserve capital is £10,477,450.