PROVIDENT FUND

Otago Daily Times, Issue 23436, 26 February 1938, Page 22

PROVIDENT FUND

OTAGO DAILY TIMES SOCIETY The annual meeting of the Otago Daily Times Mutual Provident Society was held on Thursday afternoon. Mr Felix Mitchell (president) occupied the chair, . * The annual report showed that 12 members had called on the fund during the year, several of them for lengthy periods. The amount disbursed in sick benefit was £lll 7s 6d and working expenses were £33 14s 6d, a total of £145 Is, while the subscriptions were £123 10s 3d, a deficit on the year’s working of £2l 10s 9d. SUCCESS OF THE FUND

The report, further stated: “It is wonderful what a body of men in a firm such as ours can do by peaceful co-operation, especially when the firm gives financial assistance. The following illuminating figures show what has been done by our society on Is a week over a period of 28 years. Ordinary subscriptions for sick benefit totalled £3131, out of which £2102 was paid in benefits —an average expenditure of £75 a year. Endowment subscriptions were £ 2432, while clearances to members leaving the employment of the company totalled £2779. The sum of £ll2B was paid to members who had reached the age of 60, and were therefore entitled to draw money and still retain their membership. Total interest received from investments over the period was £3020.” The society was established in 1879, and was registered under the Friendly Societies Apt in 1.910. Eight new members joined during the year, while seven resigned, having left the employ of the company. There was one death, that of Mr A. F. Stuart, one of the last of the oldtime hand compositors, at the ripe age of 79, after having spent over 65 years in a newspaper office. There are now 97 members on the roll, with a total credit of £*5569. OFFICE-BEARERS RE-ELECTED A hearty vote of thanks to the auditors (Messrs H. P. Harvey and R. G. Bowie) and to the trustees (Messrs W. H. Adams and H. Harris) was carried on the motion of the president. Last year’s office-bearers were reelected as follows;—President, Mr Felix Mitchell; vice-president, Mr F. L. Harman; treasurer, Mr William Dow; secretary, Mr Alex. Wilson; committee —Messrs A. H. Harman, _S. Larkins, F. Longworth, J. J. Morris, J. D. Ritchie; trustees, Messrs W. H, Adams and H. Harris; auditors, Messrs H. P. Harvey and R,. G. Bowie. »