FRIENDLY SOCIETIES.

Nelson Evening Mail, Volume XLII, Issue XLII, 16 September 1908, Page 4

FRIENDLY SOCIETIES.

THE YEAR'S WORK. (From Our Special Correspondent). WELLINGTON, Tuesday. I The ajinual report of the Registrar if Frieudlv Societies states that there iv-eie 23 new registrations last year. ! The number of members of the 516 lodises in the Dominion was 56,817. The I total funds amounted to £1,118,216, ! the average capital a member be- J mi? 19 13« 7d. In his last report the Registrar drew ateution to tho importance of close investment of funds, and he now says improvement might be effected by reducing current; account. He says that in some lodges sums so held are out of all proportion to requirements. "I cannot,' 'adds the Registrar, "but reiterate the desirableness of establishing centralised investment funds, the benefits of which in those districts where tlvev have been set up are constantly coming under the notice of the Department." The report states that there is now an almost general desire on the part of the leading orders to take up questions of sound finance in earnest. snrities which have improved tb^j- position and adopted sound scales*of contributions are now entitled to such. Di-ctection as the State can give them from competitors who, without regard to the financal liabilities they are incurring, offer benefits for which adequate provision has not been made. There appears, says the report, to be a disDosition in some of the friendly societies in the Dominion to adopt a uniform deatii levy for high funeral benefits, and a not* of warning is sounded on the unfinancial character of the system. From a report from the actuary, which is appended, it apnears that several old lodges in New Zealand have already arrived at the stage where outgo for benefits is in excess of the contribution income. Two instances are mentioned, but in each case the lodges are solvent, showine the wisdom of accumulated funds in their earlier years. The actuary also says that ill-advis-ed investment of benefit fund money in halls has been a stumbling block to many lodges.