H.—l

17. Statistics of friendly societies everywhere exhibit the effect of the continuous fall in the rate of interest on investments. The income of New Zealand societies has been largely affected by this cause. Notwithstanding that the percentage of capital bearing interest is greater, and that a greater percentage of such capital is invested on mortgage of freehold property, the mode of investment yielding the highest rate of interest, the average rate has declined during ten years If per cent. As, however, the average rate of interest on mortgages is nearly 6 per cent., it has not been considered necessary to reduce the rate assumed for the purposes of valuation. 18. Valuations were made of the following societies : — M.U.I.O.O.F.—North Westland District. A.O.F.—Canterbury United District Widow and Orphan Fund; United Otago District; Court Coromandel. I.O.E.—New Zealand District; Star of Hope Tent. S.D.T.—Antidote Division ; Progress Division. 19. Summarised results of the valuations are given in two tables (Appendix V.). Table A. shows— 1. Number of members at the date of valuation; 2. Present value of benefits ; 3. Present value of contributions to benefit funds ; 4. Value of accumulated benefit funds; 5. Surplus or deficiency ; 6. Average surplus or deficiency per member; 7. Average age of members; 8. Average annual contribution, per member, to benefit funds; 9. Average value, per member, of accumulated benefit funds; 10. Eate of interest, per annum, credited to benefit funds (average for quinquennium); 11. Surplus or deficiency at previous valuation (average per member). Table B shows— 1. Eatio to liabilities of — (a) Present value of contributions to benefit funds ; (b) value of accumulated benefit funds; (c) total assets ; (d) surplus or deficiency. 2. Causes of surplus or deficiency. For convenience of publication, the causes assigned for the surplus or deficiency disclosed by valuation are indicated in Table B by means of letters referring to a list prefixed to the table. 20. Societies, on application to the Eegistrar, may have their valuations made free of cost. The experience of the societies valued in the office during the year represents 12,246 years of life at risk. This experience has been grouped with that published in tabular form in last year's report, and the combined results are exhibited hereunder.

Sickness and Mortality Experience of Societies valued in the Office (Men Members only).

Table of Secessions among those who were Sick and not Sick respectively, during the Quinquennium preceding Valuation, in Quinquennial Age-periods.

8

Sickness (Weeks). Number of Deaths. Age of Members. Number of Years of Life at Risk. First Six Months. Second Six After Twelve Months. Months. °« e s m - I Of Wives. Total. Jnder 25 !5-30 S0-35 15-40 10-45 .. 15-50 i0-55 .. i5-60 .. >0-65 15-70 .. rO and upwards .. 21,469-0 22,200-5 20,905-0 19,116-5 15,439-0 12,066-5 9,420-0 5,549-5 2,781-0 1,088-5 561-0 15,152 13,840 13,793 13,834 13,335 13,343 12,833 8,968 5,514 2,655 1,596 1,230 990 1,053 1,061 1,654 1,799 2,418 1,904 1,387 762 807 1,580 1,307 2,382 2,562 4,628 6,699 8,218 9,166 8,850 6,824 8,714 17,979 16,126 17,241 17,448 19,623 21,833 23,547 20,057 15,646 10,241 11,117 98 94 108 87 87 94 131 104 60 33 37 14 45 66 80 75 55 74 48 29 15 15 All ages 516 130,596-5 114,863 . 15,065 60,930 190,858 933

Number of Members who Admitted before Quinquennium. Admitted during Quinquennium. Age at Beginning of Quinquennium or at Entry. Were Sick during Quinquennium. Were not Sick during Quinquennium. h .2 a <y Were Sick during Quinquennium. Were not Sick during Quinquennium. 60§ a.3 '3S a a «g rd rji .2 a n'3 <y Lapsed Were Lapsed Were during included during included Quinquen- in the Quinquen- in the nium. Valuation. nium. Valuation. Lapsed during Quinquennium. Were Lapsed Were included during included in the Quinquen- in the Valuation. nium. Valuation. Jnder 25 15-30 .. 10-35 .. 15-40 .. :0"45 .. : 5-50 .. iO-55 .. i5-60 .. iO-65 .. 15-70 .. '0 and upwards 343 216 183 149 72 60 33 11 1 1 1,462 1,507 1,564 1,582 1,391 1,275 934 528 255 97 49 1,461 1,286 958 651 382 217 99 44 10 2 1,150 1,374 1,490 1,407 1,1.14 819 548 260 120 28 12 64 69 90 84 83 111 118 94 46; 24| 33 214 75 48 24 5 1 1,785 570 317 177 60 16 2,299 932 458 227 44 9 2 1 5,235 1,994 1,158 508 166 41 5 3 59 26 16 6 2 1 2 1 All ages 1,069 10,644 5,110 8,322 82l| 367 2,926 3,972 9,110 |112