I.O.O.F., M.U.

Star (Christchurch), Issue 3882, 25 September 1880, Page 3

1.0.0. F., M.U.

By the last mail a report of the valuation of the Loyal JKangiora Lodge, Ashley District, M.U , 1.0.0. F. has been received" which eliows the very satisfactory condition of Hie funds of that Lodgo, and its thoroughly sound financial position amongst the Lodge's of the Order in Canterbury. The valuer of the Unity, Mr Reuben Watson, after giving the mode of the calculation of the valuation, sums up as follows: — Assets: Present value of contribution?, £1069 12s ; of capital, £1721 Vis 3d. Total. £57!) I 5s 3d Li.ibililiiH: Present value of sick benefits, £;s7<>7 -I-J 7d j of members' far.jr.il benefit?, £.H47 1i» lid; of wivpH* funeral bi-nefits, £2?. i 17-- 31. Total, £1778 13* Hd ; lvavv> u n MirpLs above present Jiubili-iee of CIOIX IIsGJ. Hi-.- r.- t ,or l , *aja li;li.at. 1 i; li. a t. t!.o vv'iole of he'

future contributions of the members of the Kangiora Lodge are of the present value of £4069 12a. and the present capital i 8 £1721 13s 3d. The whole of (he present assets of of £7915°8 3d c " t ' here£ore ° f th ° P resent va ' ue After enumerating the benefits which the Lodge has undertaken to provide to its members, it continues:-" If tf, 0 w hole of the above sums are added together it will be found that the liabilities incurred are of the pre B ent value of £4778 13s 9d, and if this sum bo subtracted from the whole value of the assets (£5791 5s 3d), a surplus will be revealed of the present value of £1012 11s 6d The surplus will doubtless bo very satisfactory to the members, but it, must be remembered that it cannot be considered realised unless it is quite certain and beyond the possibility of doubt that four per cent, compound interest will be realised on all funds and contributions in the future. The high rate of interest obtainable on investments at the present time will, no doubt, fortify members in their confidence of its continuance in perpetuity, and would, perhaps, with gome, appear to justify a valuation based on a higher rate, but all experience proves that high interest rateß can only be commanded while there are more borrower* than investors, or while capitalis scarce. This is, therefore, an exceptional condition, which cannot be relied upon as certain of uninterrupted existence in the British Colonies during an unlimited length of time. At the Bame time every Lodge and every member thereof have a right to participate fully in the advantages derived from improved investments, and perhaps it is allowable to assume that the interest rate will continue for many years above what is estimated in the valuation, and that even greater surpluses will bo disclosed by future valuation. "The Bangiora Lodgo seems singularly fortunate in its investments, as Bhown by the statement on the secretary's return, and if this good fortune continue for any length of time, the Lodge would have a splendid opportunity of laying the foundation of a system of superannuation that would prove alike creditable to the Lndge and beneficial to the members. There is a general yearning in Friendly Societies after superannuation allowances but the disposition to purchase them by equivalent contributions is lacking. The Rangiora Lodge has a surplus of £1012 11s 6d with great prospect of rapid increase, and if this sum was allowed to remain unappropriated, and the Lodge was disposed to extend its benefits by providing annuities to aged members in lieu of sick benefits, there can be no doubt that by very moderate additional contributions it would be able to do so in the course of a very few years. Otherwise the Lodge may apply a portion cf the eurplus in extending the benefits in accordance with the rules, without its soundness and stability being in any way impaired. — (Signed) Ret/ben Watson, Valuer, Nottingham, July 19, 1880." The question of superannuation allowances has been one of recent discussion by the officers of the Ashley district, and it is probable that with the above report and the prospect of the remaining Lodges in the district being valued, t h e scheme will be set on foot shortly. It may be added that the funds of the Lodgo are receiving on an average over 10 per cent, interest, all funds being taken into consideration, fo t.he stability of the Lodge is not likely to be impaired bp suggested. The quarterly meeting of the Loyal Leithfield Lodge was held on Wednesday evening, at which there was a full attendance of members. Prov C. S. Eobinßon attended and apologised for the absence of the Prov G.M., through indisposition. One candidato was ballotied for and duly elected, and two more were proposed. The usual routine business was transacted, nnd the C.S. congratulated the Lodge on the satisfactory state of its finances, and the Lodge was closed in the usual manner.