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Session 11. 1923. NEW ZEALAND.

FRIENDLY SOCIETIES AND TRADE-UNIONS. FORTY-SIXTH ANNUAL REPORT BY THE REGISTRAR OF FRIENDLY SOCIETIES FOR THE YEAR ENDED 31st DECEMBER, 1922.

Presented to both Houses of the General Assembly pursuant to the Friendly Societies Act, 1909, Section 9, and the Trade-unions Act, 1908, Section 16.

The Registrar of Friendly Societies to the Hon. the Minister. Sir,— Wellington, 31st July, 1923. 1 have the honour to submit herewith, in accordance with the Act, the annual report of this Office for the year ended 31st December, 1922. I have, &c, William M. Wright, Registrar of Friendly Societies. General. The membership of friendly societies shows a substantial increase during the past year, the number gained being 2,963, or 3*Bl per cent. The losses sustained during the war have been more than recovered, which goes to prove that the popularity of the friendly-society movement is increasing. The gross funds of the societies increased by £147,84-9, from £2,445,843 to £2,593,692, the average capital per member being £32 2s. 2d. The total interest-earnings of sick and funeral funds was £120,938 for the year, or a rate equal to £5 lis. 2d. per cent., an indication that in making investments advantage has been taken of the high interest rates ruling at present. The mortality rate of 8-18 per thousand is slightly higher than that of last year. Sick-pay, per member sick, decreased from £7 lis. sd. to £7 Bs. 3d., whilst contributions and interest earned per member rose from £3 ss. 4d. to £3 6s. 3d., the whole representing a net gain per member of £1 16s. 4d., as compared with £1 13s. 3d. for the previous year. New Legislation. An amendment to the Friendly Societies Act, 1909, was passed last year by which a registered society whose object, or one of whose objects, is to provide medical or surgical requisites for its members, or for the members of any registered societies or branches contributing to its funds, may (if its rules so provide) issue debentures for the purpose of raising the capital moneys required for commencing or extending its business of providing medical or surgical requisites. Every branch of such society, and every registered society or branch contributing to its funds, may take up such debentures and may invest therein any portion of their funds, other than benefit funds. The debentures shall be of such amount, and for such term, and shall bear such rate of interest as the committee or a majority of the members of the society issuing the debentures approves. It is further provided that a registered society or branch shall not withdraw from contributing to the funds of a medical society except on not less than six months' notice and on payment of all contributions accruing due on or before the date of the expiration of the notice. All moneys payable by a member of any registered

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