AUSTRALIAN MUTUAL PROVIDENT SOCIETY

New Zealander, Volume XX, Issue 2080, 2 April 1864, Page 5

AUSTRALIAN MUTUAL PROVIDENT SOCIETY

The Annual Meeting of the Australian. Mutual, Provi-, dent Society took place on the 4th of February last— Gk'Uo.ss KrN.i, Ks!|.. in the chair. {We give the following extracts from the Director’s report:— ; . •■■■■,•■■' - ■■■■ ■■■■'■’ “The new.business consists of- ,7 ■ '£ . ,5... d. : ■ ,950 policies, assuring on lives the sum of £433,793 li'-s, "the premiums on which , ; ‘ amount to —...10,012 6 1 , m VI fW&eryef annuity policies/ , ' -the, premiums .on: which , amount to 7 184 16 10 . 7 242, endowment policies, the ' • ‘ premiums on which amount to, 2,450 15 10 Total, 1,109 policies, in- ’ ' creasing the revenue j by £18,617 18 9 ! “The new business-of. 1863 was, greatly .more thanthat of any-fpriner year, exceeding that of ,1862 by 335 policies; by £83,698 12s. of new assurances; and in revenue by £5,018 13s. ; ' ■ - ‘‘The stun of £7,375 2s. 3d. has been paid to the, representatives of seventeen deceased members, of which amount. £375 . 2s. '3d. .consist, of bonus additions. £1,419 IGs. 4d, have also been paid to members as’ cash value of bonus'additions, and £1,995 os. 7d. on surrender 6"f policies. From all causes 150 policies have become void, and the annual revenue has; thus' been reduced by’ £2,445 11s. Bd. In addition to the claims’ above stated as having,been .paid, tin; directors have had . notice of . death of fifteen other members, whose lives were assured under nineteen policies for >£8,595.135. ! 7d. (including, bonus additions). . The deaths, which might have been expected according to the mortality tables, would have, amounted to about forty-two members; assured lor about £22,900. Those which actually took place during theyear were only twenty-eight in number. ... , 7 - “The assurances-now- in force exceed £1,970,000 and the premium income is upwards of £72,000. “ Upwards of £61,500 have been added to the invested funds of the society during the year.”

j CHAMBER OF COMMERCE.— Thursday. At a general meeting held 1 this day there were present Mr. Gilfillan (Chairman), Mr. Nathan, Mr. Webster, Captain Salmon, Mr. Davis, Mr, Lewis, and Mr. S. J, ! Edmonds. The minutes of the last meeting were read and con- ; firmed. i;> The Chairman produced an abstract of the year’s account. ; .They showed a balance in favour of the | Chamber of £72 15s. 3d. : - The Chairman' laid upon the table a cop\- of the | Panama Contract, entered into by the Honorable Crosbie I Ward on the part of the New Zealand Government. He [ said there had been some dissatisfaction expressed out of doors because they had taken no action in the matter, but as it was not yet known whether the Government would ratify the contract, it was thought it would be premature to take any steps. He thought it would be better not to take any part in the matter until something further was known. , The Chairman next said he had received copies of the following correspondence from the Superintendent’s office:— •’! “ Superintendent’s Office, “Auckland, February2s, 1864. “ Sir——l have the honour to enclose herewith for your information, copy of a letter addressed by me to Captain J. Vine Hall, General Manager I.C.R. Mail Company, 'respecting the port in New Zealand best adapted for the head quarters of the vessels employed in the Panama service, and other matters connected therewith; and also copy of the reply of Captain Hall to that letter. “ I have, &c., f". “Joseph Newman, “For Superintendent.” “ The Chairman of the Chamber of Commerce, “ Auckland.” ,f “ Superintendent’s Office, ‘f Auckland, February 5, 1864. “ Sir, —As it seems probably that the I.C.R. Mail Company will be contractors for the Panama line of postal service, I haye the honour to request that you will favour me vrith your opinion as to which port in New Zealand is the best adapted for the head quarters of the vessels emyloyeA in that service, also whether in' the event of Auckland being chosen for such head quarters, it would in your opinion be advisable to make arrangements for ; the erection of a patent slip or. the construction of a dry dock, or both, of size suitable for the repair of the class of vessels likely to be used on the line referred to. “ I have, &e., (Signed) “Robert Graham, “Superintendent. : “ Captain J. Vine. Hall, “ Genera 1 Manager, * ‘ . “ I.C.R. Mail Company.”

“ S.S. Lord Ashley, ; # “ February 10, 1864. “Sir,—ln reply to your letter of the sth instorequesting ray opinion as to-whioh port in New Zealand is best adapted for the head-quarters of the vessels employed in the Panama service, and also in the event of Auckland being chosen for that purpose, whether it bo advisable to make arrangements for the erection of a patent slip, &c., I'have the honour to make the following observations.:— “As a -general principle, the best port for such headquarters is that where repairs can beat be effected, supplies procured, and which is most accessible. “In the first two points ’ Auckland is about equal to Otago, and rather i superior -to Wellington—but the last point, accessibility at all times, Wellington has the advantage, being furnished with a good light at the entrance, and having plenty of room within—whereas at present Auckland has no light, and the buoys are so small as to be of little use. ’ J “ A dock or slip sufficient for the large steamers necessary for the Panama service would give the port which, furnishes it, a great pre-eminence in eligibility, and if coupled with an engineering establishment for effecting repairs, undoubtedly would weigh materially in the same.direction.-—I have, &c., ' '< ‘'Joint Vise llu.n. “ His Honor Robert Graham,' Esq.', Superintendent ' of Auckland.” Jt was decided that a meeting‘for the special consideration of the subject should bo held. ” The Thursday after tße fresj.r ß » ». jMinokuieutarv. mail ..was fisetL fox -holding the meeting. , ~, A letter ffcm. the Secretary to the Commissioner fori the.New [Zealand Exhibition: at Otago was read; asking" for, information' as- to; the trade of the place, &c., and the Secretaryiwas directed to give* the information asked for. ;1 A letter was iead'from James Aitken, of the Qtieeti of i the Mersey, On the vexed question of ballast. The writer -requested that means might be adopted so as- to prevent, ’ship-owners being robbed in weight. 4 Those who sup? plied,,it charged their own price, and therefore ought’ to give weight.' : At Canterbury, Dunedin, and Melbourne, the boats had marks on an iron plate affixed by the Harbour-Master,’ so that the weight could ehe 4 seen at once.' - The port expenses: were}heavy enough, without [having :;wenty-five per cent, added through light weight. Some remarks were made to the effect that these mat-" ■ ters ought to be regulated by authority, but no formal resolution was passed. The Chairman laid before,the, meeting, the , resignation of Mr. Laurie, the Secretary., He paid that gentleman a high compliment for the efficient manner: in' which he had performed the duties devolving upon' him, -and said he thought the Board would agree with him in declining to comply with the offer of Mr. Laurie, who had expressed his willingness to' ielihquish his salary for two quarters,: during the time he had been eiigiged in military duties. It was not his own fault 1 that he was called away from his duties. - The meeting took the same,view, and a resolution, express! ve.of the high esteem in which the Secretary was held, ws-s unanimously passed. , ; Two applications for the Secretaryship were readone from Mr. Lepine ; another, from, .Mr. I. W. Harrop. As there, were Several things-requiring immediate attention,; f it wasffhought better not to defer the .election, and Mr. Harrop was appointed. ' The members then'dispersed! ; "