COMMERCIAL.

Lyttelton Times, Volume LXI, Issue 7222, 23 April 1884, Page 4

COMMERCIAL.

Lyttelton Times Office, Tuesday Evening. CUSTOMS EE VENUE. The following was the Customs revenue collected yesterrday : Spirits, £363 6s 7d; wine, £42 2s 8d; tea, £5 Is 6d ; sugar, £4B 15s 9d; cocoa, £7 2s fid; ad valorem, £3O 18s; other duties, £l7 Is 3d; total, £514 Ss 3d. Mr E. (}. Statelet, for the New Zealand Loan and Mercantile Agency Company, Limited, reports on the Ashburton Live Stock Market under date April 22, as follows The Yards were literally crowded with sheep, chiefly stores of various classes, amongst which merino ewes predominated. Very few fat sheep were on offer. Only a moderate supply of cattle came forward and wa have no material changes in values to record. The attendance was large, hut, except for really good sound lines, competition was languid, and values for ordinary descriptions were without improvement. Nat mixed cross-breds made 15s Id; fat ewes, 9s fid; merino wethers, 8s 6d ; fat merino ewes, 5s fid. In stores, cross-bred ewes of guaranteed mouths, and mixed ages, brought 13s Id; aged cross-bred ewes, 8s ; lambs, 5s 6d, 8s fid and 9s 4d; store merino wethers, 4s lOd; do, in forward condition, for turnips, 5s 9d, 6s 3d and 8s 6d; aged merino ewes realised 4s 2d and ss; sound-mouthed ditto, 6s 7d and 7s; 2 and 4-tooth merino ewe#, 10s 4d. AUSTRALIAN MUTUAL PROVIDENT SOCIETY. The following is the report to he presented to the thirty-fifth annual meeting of the members, to be held at the Chamber of Commerce, Sydney Exchange, on Wednesday, April 23, at two o’clock p.m. : The report which your Directors have now the gratification to submit, contains a record of New Assurance business unequalled for magnitude in the history of the Society. During the twelve months ending Dec. 31, 1883, there have been received 10.892 proposals for sums amounting to ... £3,883,373 Of which 3263 were declined, withdrawn, or not completed, amounting to .; 1,305,650

Leaving 7629 proposals accepted;and completed, assuring ... ±,2,577,723 - This business includes 222 non-participating policies assuring £63,052. The new premiums amount to £94,189 9s sd, of which £8822 10s 2d represents single payments. The following is a summary of the business effected: —

Claims have arisen under 417 life policies by the death of 375 members, amounting to £198,323 12s, including £23,173 12s for bonus additions. Fortynine endowment assurances have also matured, amounting to £20,559185, including £5786 18 s for bonus additions. The Accumulated Fund has been increased by £575,129 8s 9d, and now amounts to £4,924,713 9s Bd. The following is a summary of the policies discontinued during the past year:—

The number of policies issued since the establishment of the Society to Deo, 31, 1883, is 79,564, assuring £28,795,434, of which 28,835 haye been .discontinued, leaving 55,729 existing policies assuring ... ... £20,298,409 0 0 The annual income from premiums amounts to £677,072 X 5 And from interest to 303,675 12 11 Malting the total annual revenue of the Society £980,747 14 4 The year just terminated marks the close of the seventh quinquennium of the Society’s existence, -and the Directors have much pleasure in con*

uratulating the Members on the extraordinary procross which has boon mode during that period. The Actuary is now engaged in the valuation ot tho liabilities of tho Society ns at Doe, 31 last. As soon as these havo been ascertained the surplus will bo divided among the members with all possible speed. In conformity with tho alterations in the bylaws, confirmed and finally passed on Jan. 10, 1883, subsequent distributions will bo made yearly. During the past year the district agency system, which has been found to work satisfactorily in Now South Wales, has been introduced into Queensland and Now Zealand, and tills improved method of controlling the operations ot tho Society is now in full working order in those Colonics. The now branch offices at Hobart have been completed, and tho business ot the Tasmanian branch is now carried on in tiro Society’s own premises. The Directors have decided to open a branch with a local Board in Western Australia, and ft suitable site for business promises has been secured iu Perth. Tho retiring Director is tho Hon b. A. Joseph, M.L.C., who will not bo eligible for roelection until the next annual meeting. John Hay Goodlet, Esq., is tho only candidate for the vacant seat. George Hamilton, Esq., the senior Auditor, retires in terms of by-law X, and it will devolve upon tho meeting to t loot his successor. The following members have given notice of their intention to bo candidates for tho vacancy Robert Gilfillan, Esq., James Robertson, Esq., Charles A. Eoboy, Esq., John Smith, Chairman,. Revenue Account, From Jan. 1 to Deo. SI, 1883.

Dr £ s. d. Amount of funds on Jon, 1,1883... 4*3*9.58* Oil Renewal premiums ••• 570,30 l 8 1 New premiums on 7629 policies, assuring £2,577,723, ana yielding ah annual revenue of . £85,36619s 3d 73, r 2913 4 Consideration for annuities granted ,*,527 5 0 Interest 280, I5? ? a Pinos ato 1 4 £5,287,740 12 7 Claims under policies .5 1 Endowments matured 31.500 14 0 Surrenders 83 202 17 6 Annuities ... ‘‘H, j® ~ Bonuses paid in cash l,»ol u li Commission—on new premiums... ... 26,039 5 6 Commission —on renewals ... ... 5,518 13 8 Cr Expenses of Management— Salaries 25,147 17 10 Directors’ fees ... 3,475 10 0 Auditors’ fees ... 830 8 0 Medical fees and expenses 12,657 17 9 Daw costa 226 7 8 Office rent 8,580 9 7 Advertising 2,488 12 1 Printing and stationery 3,588 16 1 Postage and duty „ stamps 3,338 IS 0 , General expenses... 2,297 111 Travelling expenses 753 12 1 License fee N.Z., Tasmania and S.A 259 7 6 Exchange ... ... .510 13 7 8 58,965 7 1 Amount of funds Dec. 31,1883 ... 4,924,713 9 8 £5,287,740 12 7 BALANCE-SHEET, Slst DECEMBER, 1883. Liabilities. £ S. d. £ s. d. Assurance Fund... 4,737,595 4 0 Endowment Fund 98,928 14 6 Annuity Fund ... 71,537 6 2 Investment Fluctuation Fund ... 16,652 5 0 Total Funds as per ' revenue account 4,934,713 9 8 Claims admitted or announced, but not paid ... 67,622 S 4 Annuities due ... 34 IS 7 Outstanding accounts 7,547 6 9 £4,999,917 13 4 Assets. £ s. a, Loans on mortgage in New South Wales, Victoria, Queensland, South Australia, and. New Zealand 8,415,216 13 7 Loans on the Society’s policies (within their surrender value) ... 578,372 18 6 New Zealand Government Debentures 165,763 7 1 Queensland Government Debentures 202,990 7 0 South Australian Government Debentures ... 20,112 A 10 Tasmanian Government Debentures ... ... ... ... ... 49,400 0 0 Freehold premises (Head Office, Pitt street) 45,742 13 1 Freehold premises (Victoria) ... 33,829 16 0 Freehold premises (South Australia) . . ... 23,461 4 5 Freehold premises (Queensland)... 25,619 17 10 , „ (New Zealand) • 30,093 18 6 „ „ (Tasmania) ... 14,341 711 „ „ (N.S. Wales)... 13,062 9 5 Office furniture Head Office and Branches 8,181 17 3 Sundry debtors 3,964 10 8 Reversionary interest 1,182 5 2 Agents’ balances 225 12 3 Outstanding premiums. Head Office and Branches 53,911 15 1 Outstanding interest 44,211 IS 8 Cash on deposit with Banks ... 234,131 211 Cash on current account with the Society’s Bankers (Head Office and Branches) 36,498 7 1 Cash in hand 73 11 1 £4,999,917 13 4 Alexander J. Ralston, Secretary, Mobrioe A. Black, Actuary! We, the undersigned, hereby certify that we have examined the Books, Vouchers, Accounts, Mortgage Deeds, Public and other Securities of the Australian Mutual Provident Society, and compared them with the above Balance-sheet, and find them ail to he correct, », Geoege Hamilton,!, . Jas. D. Milne, ) Auuitors. Sydney, March 28, 1884.

Ko. of i Sam Policies. Assured. Single Pre’ms. Animal Premiums. £ Assurance ...7491! 2,553,223 Endowment... 129j 84,500 Annuity ... 9,(982 16 8) iper ann'm £ s. d188 19 0 106 6 2 8527 5 0 £ s. d. 84,260 17 7 1,103 11 10 2 9 10 Total ...76291 2,577,723 ' 8822 10 2 85,366 19 3 8,822 10 2 Total new Premiums £ 94,189 9 5

Assurance Policies. Endowment Policies. Annuity Policies. How Discontinued. No. | Sum Assured. Annual Premiums. No. | Sum Assured. 1 Annual Premiums. £ s, d. No. Amount of Annuity Per Annum. ll li £ £ s. d. £ £ B. d. £ s. d. By Dentlx or Maturity... 466 189,923 7,211 0 11 75 11,900 662 18 2 1 30 0 0 „ Surrender... 594 334,459 7,206 11 2 27 13,150 412 12 6 „ Forfeiture 1,422 424,275 12,971 6 5 25 3,700 124 7 4 2,482 838,657 27,388 18 6 127 26,730 1,100 18 0 1 SO 0 0