THE A.M.P. SOCIETY.

New Zealand Herald, Volume XXXVII, Issue 11371, 14 May 1900, Page 6

THE A.M.P. SOCIETY.

[in- TEMGIUrn.-PMSS association.] Wellington, Saturday. liik fifty-first annual report of the A.M P Society has been issued. The amount of new business completed was in excess of that in m l •■ Veai ' since 1891 - consisting of l&.jWd polices assuring £3,955,685, and EiKifn 011 , mml l )rami " m avenue of £135,339 the net gain to the volume of business being no less than £2,100,000* The mortality expenses were of an unusually tavourablc character, claims being £70,000 less than in the previous year. A searching investigation, into- mortgage securities was made, and a further sum of £6175 was set aside on this account, besides writing £3837 off office premises. The directors will shortly convene a special meeting of members to discuss a proposed new by-law authorising the society to open branches in any portion of the British dominions. From the report of the actuary, Mr. Richard Teece it appears that the whole of the liabilities! with the exception of a few non-participat-ing policies, arc valued at 3J per cent, in- j terest, the amount of the cash surplus avail- ' able for division being £506.183, which will j produce reversionary additions to policies of members aggregating £942,500. Bonus certificates will be issued at the end of next month. The rate of expenses is low, being under 9£ per cent, on total receipts. Tho' effective rate of interest earned during the j year was £4 lis lOd per cent. < j