THE AUSTRALIAN MUTUAL PROVIDENT SOCIETY.

Oamaru Mail, Volume IV, Issue 1075, 30 September 1879, Page 2

THE AUSTRALIAN MUTUAL PROVIDENT SOCIETY.

The members of the Australian Mutual" Provident Society must be congratulated on the magnificent result of the quinquennial investigation, which appears it\ our Sydney telegram. More than half a, million of money is available for distribution in cash bonuses, or, if allowed hy th' 0 members to be added as reversions' r y additions to their policies, produces no loss a sum than over a million This result tells a tale of prudeno'j all( ] forethought on the part of its members eminently praiseworthy, and a 'management that reflects the utmost 'ereditto those engaged in it. It also speaks volumes for the bonus-prodti cing premiums of the Society, which., although very considerably lower than t) iose of the oldest, largest, and best-in English offices, are capable by indie ions investment and scrupulous ee.onoiv y of producing such a splendid sru'plvts. Each member cannot but be gratiUwf.l at being connected with such a colotr'ial institution, which—while ovily 110 yes u-s of age—lias proved eminently succe(s.t"iil, and we tliinlc that no participating policy holder will now grudge the almost imperceptible extra premium which has purchased him the right to share in the profits. We hope shortly to. have the pleasure of perusing the long -looked-for Quinquennial Report, when we ma)', perhaps, refer to the investigation, and its results mure in detail. The Re sident Secretary of the Society in Wellington, Mr. E. W. Lowe, has furnished us with the following extract from a private c.opy of the report which has just reached him, in which the accomplished Actuary of the Society, Mr. Morrice A. Black, concludes liis report in the following words:—"ln conclusion, the Australian. Mutual Provident Society, at thirty yeavs of age, stands before the world as a life institution that has achieved unparalleled success. For stability it is unsurpassed., for the profit it has realised and divided it is unexcelled, and for the liberality of its business arrangements it is matchless. No other Life Assurance Society in .any part of the world has had at the end of thirty years 35,218 policies in force, assuring L1U,.'592,121, an accumulated fund of L2,(>00,053, and an annual revenue of L(i22,000, of which it could be said that the ratio of expenses to premium income has been less, the rate of interest on the funds higher, the premiums charged lower, the: reserves for the liabilities higher, or tlu : : bonuses allotted to its members larger than those of this Society. Truly such an iivstitution may well be the boast of Australasia, and the special pride of Sydney, the city of its foundation. Evening Post, '2(>tli September.