A.M.P. SOCIETY.
' SYDNEY, May 18. At the annual meeting of tha A.M. P. Society the annual report was adopted. Messrs Meeks and Walker were re-elected directors. The chairman said the societyhad entered its second half-century with bright indications of a prosperous future. The new business for the year totalled £3,955,685, a record for the society, representing an annual premium income of £135,339. The surplus for the -year was £566,000. The proposed per"" cent, rate of Government security had been increased by £491,000. The directors had come to the conclusion that the time had arrived for an extension of operations to other parts of the world, but the vote taken at .a special meeting to be held would decide the matter. The report referred to the advantageous purchase of premises in Nelson, New Zealand. The chairman said the claims for the year were £70,000 less than in the previous year. The funds had increased £8,95,691. "With a few trifling exceptions,^ the rate of interest assumed would realise in future 3£ per cent. He indicated that if the effective rate of interest fell they might adopt 3 per cent, instead of 3£ per cent. The amount to be divided is £506,000.
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Bibliographic details
Otago Witness, Issue 2412, 24 May 1900, Page 13
Word Count
199A.M.P. SOCIETY. Otago Witness, Issue 2412, 24 May 1900, Page 13
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