U.A.O.D. FINANCE

New Zealand Times, Volume XLVI, Issue 10547, 25 March 1920, Page 6

U.A.O.D. FINANCE

AN IMPORTANT MOVE CONSOLIDATION OF FUNDS APPROVED. Ai very important forward move has been made by the United Ancient Order of Druids in the direction of consolidating at headquarters the whole of the sick and funeral funds hitherto held by the various lodges. This decision was arrived at by the Grand Lodge, which is holding a special meeting in Wellington this week. The Grand President,' Mr. *lanagan, has presided over the sessions. ADVANTAGE OF CHANGE. The motions to carry out this reform were submitted by the Grand Lodge Executive, and were moved by bo Grand President, who pointed out that if the • order were to maintain and improve its position under the present severe competitive position, it must make this change, which would give members the tremendous advantage of having behind them the financial strength of the whole order no mattor how small the lodge to which they belonged. He quoted some important figures to show the success of coordination in the Australian U.A.0.D., an actuarial deficiency being turned in a very few years into a large surplus. Tt had been said,' of the New Zealand U.A.0.D., that it was creeping towards solvency, but this measure would hasten the pace. The motions siibmittcd by the executive were adopted after considerable discussion with some machinery amend<ne**th. , ADVISORY BOARDS. Ono important provision authorised the sotting up of advisory boards or trustees in a. number of ce "J res throughout New Zealand. These boards will invest moneys, on bohali of t*c central funds, and under this ivstem monrys .-•ullwerihod _ T>y moniliors in anv partiim'm - W.ili;v will, on a general' rule, be invested in that loca'i. v. . P'.rtiruhT- '.'-eve given of Hip very nppl'crtkm of thK system in '.lie "rdef in the Otaao Province. APPROVAL OF REGISTRAR. A; a later stage of th=- meeting, the Rofefotrar of Friendly Societies. Mr Hayes, attended, and heartily congratulated the Grand L"' on its decision to adopt the principle of consolidation which would place it in the van of the friendly society movement. There wore now twelve societies in ■New Zealand which had adopted this important reform. Mr Hayes said that the assessment of friendly socio-

ties with' respect to the main liability of their members had turned out to be higher than the actual liability experienced. The assessment was 8 per cent., half of which was paid by the societies, and half by the Government as a subsidy. The very satisfactory experiences of the marking of the fund would enable a. refund to be made to friendly societies of. a portion of their contributions, and in the case of the "U.A.0.D., this would amount to £I4OO. The lodgcv, meeting has dealt witb a considerable amount of business relating to revision of the rules.