THE A.M.P. SOCIETY.

New Zealand Herald, Volume LXIX, Issue 21159, 16 April 1932, Page 5

THE A.M.P. SOCIETY.

BUSINESS FOR THE YEAR/ TAXATION NEARLY DOUBLED. New business completed flu ring 1931 in the ordinary department of the Australian Mutual Provident Societv, including reassurances of £89,555. totalled £8,853,763, against £10,655,037 in the previous year. In the industrial department policies assuring C 2.657.324 were issued, as against £3.300,683 mi 1930. Claims bv death in the ordinary department amounted to .£2.230.006. including £800.790 for bonus additions, as against £2.035,886 and £785.027 respectively. Endowment and endowment-assurance policies matured amounting to £1.429.043. including £464.141 for bonus additions. Policies assuring £7,792,902 and annuities amounting to £5646 became void from other causes. Claims by death and maturity in the industrial department amounted to £684.806. „ The total of the accumulated funds of the ordinary and industrial department? has been increased bv £2,512,872, and now amounts to The investment and contingencies reserve funds have been increased from £1,250,000 to £2.003.103. In addition, provision has been made for accrued taxation amounting to £350.000, and office premises and other assets have been written down by £IOO,BIO. The society's investments in various loans to the Commonwealth and States of Australia, to New Zealand and other Dominions, to Great Britain and to local government and other public bodies in Australia, New Zealand and other Dominions amount in all to £45,092.230. The actuary's report shows a surplus of funds over liabilities in the ordinary department of £2.528,816, out of which £2,468,816 is to be allotted for distribution among the participating policyholders. This will provide reversionary bonuses of about £4,370.000. The surplus in the industrial department for distribution is £233,998, providing reversionary bonuses amounting to about £340,000. The rate of interest realised on the mean funds decreased to £5 8s 4d per cent. Taxation paid during the year in the two departments combined amounted to £702.377. as against £432,742 in 1930, and £320,177 in 1929. GOLD AND SILVER. QUOTATIONS IN LONDON. (Received April 15, 9.15 p.m.) LONDON. April 14. Gold is quoted at. £5 9s 7d an oz., compared with £5 9s 5d yesterday. Silver is quoted at 16i,d an oz. spot and 16 9-16 d forward, compared with 16 5-8 d and 16'll-16d yesterday. The quotation for silver at. per standard ounce is 16jd and at per fmo ounce 17 13-16 d. Compared with 16 5-8 d and 17 15-16 d yesterday. GISBORNE SHEEP PRICES. [tiv TELEGRAPH. —OWN CORRESPONDENT. J GISBORNE, Friday. Prices for fat t-heep a t the Matjwhero stock sale to-day were firm on the values ruling recently. The sale of ewes opened with a weaker tone, but soon recovered and was then up to recent values. Extra Rood ewes realised 9s Id; average, (is Sd to Ss; two-tooth ewes, 10s Id to lis 7d : iambs, 8s >ld to lis fkl: average, about 10s; wethers, fls 8d to Us: second-grade ewes, ns fid Gs lOd ; lambs, i?s Gc! to 9s lid: wethers, 10s 7d. A moderate, yarding of store sheep ennic forward and n brisk sale resulted, ("rood lambs made. 7s 3d; lighter weiehls, is 2d to Kb 3d: fresh condition, sound mouthed ewes. Tg to Id: wethers. 6s 3d to 103 9d; young ewea, 10» 10d.