THE A.M.P. SOCIETY.

New Zealand Herald, Volume LXIX, Issue 21224, 2 July 1932, Page 5

THE A.M.P. SOCIETY.

DISTRIBUTION OF BONUSES.

REDUCTION IN INTEREST.

In its circular to policy-holders accompanying the annual bonus ccrtif,rates, the Australian Mutual Provident Society states that in 103 L the taxes p;.id by tho ordinary department were about 60 per cent, more than those paid in the previous year, and owing to the unsettled conditions in the financial woild it. was considered advisable to increase the in - vestment and contingencies reserve fund by a similar percentage. The irate of interest reaiised on investments had been reduced, mainly as a result of legislation, and the interest collected was more than £200,000 less than it would have been if the rate for the previous year had been maintained.

Ihe amount available for distribution as bonus was nearly £400,000 less at £2,468,816 than that distributed last year, and tho rates of bonus had had to bo reduced. The amount distributed on the average in cash or its equivalent reversionary bonus i; 46 per cent, of tho premiums paiel during the year, which compares with trie average of 51.8 per cent, of the premiums paid under participating policies; during 1931.

SOTL WITH POTATOES.

SHIPMENTS FROM THE SOUTH. CITY MERCHANTS' COMPLAINTS. Complaints of tho bagging of undnly large quantities rf soil with the potatoes now coming forward from the South Island are numerous among Auckland grain and prodjee merchants. "While the practice \s not general," stated one city merchant yesterday, "it has been very marked lately in arrivals from the South " His firm had a number of instance?: in which from 201b. to 451b. of soil had been packed in with the potatoes, and some examples had been forwarded to the South IslanJ for exhibition. Criticism o:i tie Southern graders was also voiced by this merchant, who said that merchants were caused continued annoyance and loss through potatoes arriving blighted, small, and uneven in. size. Other city merchants confirmed these complaints, particularly in regard to the quality which the graders were passing in the. South Island. An explanation of tho presence of so much soil was offered by one dealer, who stated that much of the bagging was done in April, May and June, and as i. result of tie very wet weather experienced this year the sodden soil readily adhureel to the newly-dug potatoes. As soon as it became drv this earth, of course, collected ic the bottom of the sack. COLD AND SILVER. QUOTATIONS IN LONDON. (Received July 1, 5.5 p.m.) LONDON, June SO. Gold is quotod to-day at £5 14s 8d an oz., same as yesterday. Silver is quoted at 16|-d an oz. npot and 16 11-!.6d forward, compared -with 16 11-16 d and yesterday. The quotation for silver at per standard ounce is 16|d and at per fine ounce 17 15-16 d, compared with 16 11-16 d and 18d yesterday. NEW COMPANIES. LATEST REGISTRATIONS. The followirg companies have been I registered in Auckland and Southern 1 centres :—• PUBLIC. Tho New 2!ealand Co-operative Pig ; Marketing Association, Ltd., to take over ! the business carried on in Hamilton by I the NfiW Zealand Co-operative Pig Marketing Association. Capital, £25,000 in £1 shares. Subscribers: E. E. Hale, T. C.. Roach,, B. J. Pirrit, W. H. Allen. J. Kenny, N. W, Hastings and W. A. Phillips. PRIVATE. Tho Lister Separator Company (New Zealand), Ltd., Auckland, importers, distributors, general dealers, brokers and manufacturers of dairying, fanning and other kinds of machinery, implements, tools, etc. Capital, £20,000' in £1 shares. Subscribers: Amalgamated Dairies, Ltd., 19.999 1 shares; T. L. Hames, 1 share. Doel and Company, Ltd., Nelson, dealers in cycles, e:-c. Capital. £1621 in £1 shares. Subscribers: F. F. Doel, 1000 shares; A. E. Doel, 313 shares; A. B. Smith, 308 shares. Haworth and Son, Ltd.., Christchorch, motor eng neurs, etc. Capital, £ISOO in £1 shares. Subscribers: F. Haworth, 1499 share!!; K. F. Haworth, 1 share.