RECORD BUSINESS
MUTUAL LIFE AND CITIZENS’ The results of the “M.L.C.” fiftysecond year surpass all records. The new ordinary- branch business written was £8,233,135 and the new industrial branch business £4,440,654, a total of £12,873,789, representing a large increase over the previous best figures. The increase in funds was £1,566,732, the largest in the company’s history; whilst the total income increased by £282,229 to £4,297,965. The low percentage of income absorbed in expenses reflects good and economical management, and the funds of the company are soundly invested, the effective rate of interest earned on funds and reserves being £5 0s Id per cent, in the ordinary branch and £4 16s lOd in the industrial branch.
The result of the year s operations has enabled the “M.L.C.” to maintain the high bonus rates paid for t-he year 1937. An announcement by the company appears elsewhere in this issue.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/WT19390420.2.6
Bibliographic details
Waikato Times, Volume 124, Issue 20784, 20 April 1939, Page 2
Word Count
147RECORD BUSINESS Waikato Times, Volume 124, Issue 20784, 20 April 1939, Page 2
Using This Item
Stuff Ltd is the copyright owner for the Waikato Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.