H.—l

12

The society possesses a Central Siok Fund winch centralizes the greater portion of the sickness liabilities of the separate ecu its. Unfortunately, it is organized in a very uneoientific manner, and hence enuses the greatest unfairness between one court and another. Aoraiu/i Lodge, 15.1'.0.0.F.: Valued as at 31st December, 1909. This is liii isolated society with I.Vi members at the valuation-date. The sickness experience has generally been favourable for some years past, and the rate of interest earned on the funds is in excess of 5 per cent. Tin- valuation (at I per cent.) shows a deficiency of £S()2, and a ratio of solvency of 17s. Bd. in the pound, wliic-h is slightly better than at I!IO4. If, however, the sickness and investment experience prove as favourable in the future as in the past, the position will, no doubt, show a gradual improvement. l( would he better if a somewhat higher scale of contributions were adopted for new entrants. Court Coromandel, A.(>./•'.: Valued as at 31st December, 1907, Tins is also an isolated society, the membership being 15 at the valuation-date. The sickness experience of the quinquennium was just about normal, and the interest-earnings were very small. A fairly large proportion of the funds was recently sunk in a hall which now practically dominates the Sick and Funerul fund, In view of this and of the small membership; it is impossible to correctly state the position of the court, but a valuation made at 3 per cent, brings out a deficiency of £2">9. the ratio of solvency being 18s. 2d. in the pound, as against 21s. in the pound ten years previously. Wellington, 3Otb June, 1911. A. T. Thavkhsi. Actuary.