MUTUAL PROVIDENT SOCIETY

Otago Daily Times, Issue 20318, 28 January 1928, Page 17

MUTUAL PROVIDENT SOCIETY

— The annual meeting of the Otago Daily Times Mutual Provident Society was held on Wednesday afternoon. Mr J. Ritchie (vice-president) presided over a fair attendance of members. The Chairman congratulated the members on the good work accomplished during the year. The report showed that sick benefit totalling £BO 4 S 2d had been expended on 14 members. Sick benefit, mortality allowance, and working expenses absorbed the whole of the ordinary contributions with the exception of about £3. Pulmonary complaints were the chief cause of sickness among members. The ordinary subscriptions amounted to £lll 15s; the surplus interest on investments alter placing £95 10s lOd to the credit of members, was £4O 14 g 5d- the profit on War Bonds amounted to £9 17 8 3d—a total of £162 5s 2d. The total expenditure wa« £IOB 12s Bd. An ordinary dividend of 13s was placed to members' credit. Endowment subscriptions amounted to £lO3 12s 3d, and tha company's donation of £SO allowed a dividend of 13s. With the ordinary dividend of 13s, endowment dividend 12a 6d, and endowment subscription of 265, members had £2 ll s 6d (plu s interest) placed to their credit. Early in the year the Board of Directors made a second special grant of £SOO to the endowment fund, and this had been placed to members' credit according to the tune they had been paying into the fund. The total funds in the society were now £2996 3 S 3d The membership had increased from 86 to 92 Eleven members joined the society during the year, four left the employ of the company, and there -was one death The following are the office-bearers for 1928:—President, Mr J. Ritchie; Yice-presb. dent, Mr E. Sutherland; treasurer, Mr William Dow; secretary. Mr A. Wilson; com-mittee-Messrs J. H. Abernethy. S. Fe* guson, F. Mitchell, T. Pitts, A. H. Har. man; auditors, Messrs J. Gray and H. ±V Harvey; trustees, Messrs W. H. Adams a»| H. Harris.