THE NATIONAL MUTUAL OF AUSTRALASIA, LTD.
Record Amount Of New
Business: Australian Prosperity Increasing
The annual meeting of the payable as between the members of the 'National Mutual Life Association for the year end- Irig September 30, 1935 was held in Melbourne un December 17th,
1935.
associa -
tion and its members, They "differ slightly from the amounts in the revenue account. which are the net amounts after de- ducting any saving to the asso- ciation by way of reassurance,
"In the accounts of a lie as-
HONG KONG DAILY PRESS, TUESDAY, JANUARY
A
LIFE ASSN. THE MANUFACTURE OF
ust 2, last, only 8 days before the completion of 60 years' krvice. He had never been absent froni ar annual meeting of the Azso- ciation within the memory of any one now connicted with it Mr. | Stock's life was literally devoted to the service of the association, He had expressed a wish to retire, but fate willed otherwise, and he died in barnesa, A5
he would „doubtless have chosen. It is al- most impossible to overvalue the service he rendered to the asso- ciation. The position presented the report and accounts now before you is very largely the re- sult of his "work.
Mr. C. A. Morris, F. I. A., who was previously deputy general manager of the association was
RUGBY FOOTBALL
The chairman said: "I am glad to say that during the year the
results of the association's work. surance company nothing shows appointed to succeed Mr. Stock as have continued to be satisfactory. the course of a financial depres- general manager and actuary. and that they afford evidence of ston more clearly than the the further progrees of the com- amounts withdrawn on account munity along the read to recovery. of surrendered polleles and bonu- į The total amount of the
ses. In the year ended. Septem- assured under the new policles ❘ber 30, 1931, surrendered values issued during the year was £10,- and cash bonuses paid amounted ∙137,325, which was in respect of to £1.214.227. a somewhat start- 20,841 new policies, We isqued ling indication of the conditions ako 100 annuity policies, provid- ing annuities amounting to.99- 441 per annum.
stons
BANKNOTES
Conspiracy To Defraud
On the following day the second accused sent someone to witness, who was told of the same matter. On January 2 and 3, the men Lau and Chau came for witness, and brought him to the Luk Kwok Hotel at Wanchal. Second accused was there and that was the first witness met the first accused, who gave his nanie as Ho. He asked witness what profession he was in, to which the latter replied that he was a Star.an
A case concerning the "making"" of Hong Kong and Shanghai Bank notes was heard at the Central Magistracy yesterday when two Chinese, Wong Fal and Chung Sui- wah were charged with conspiracy in defraud by pretending that they could make tanknotes of the Hong Kong and Shanghai Banking/Cor poration. The arst accused was additionally charged with having | on or before May 15, 1933 stole by means of false pretences, 521,500 from one. Tam Lin.
In the course of the conversation [ ́ ́Mr. H. C. Macnamara; instructed as to the making of banknotes, the by Mr. McCallum appeared for the first accused said that he could prosecution, while the first and make them, as he been taught second accused were represented by ❘ by a German in Guany. He was Mr. C." A, S. Russ and Mr. G. 8. | now looking for someone to furnish Hugh-Jones respectively.
the capital, as the $10,000 which After a lengthy argument. It was was given to him by the German decided that the first charge; be | Had been lost. 'He had the appara- taken Arst. Mr. S. F. Balbour tried tus
banknotes for making the the case as Mr. Macfadyen would | which included some medical soon be transferred to the Kowloon ¦ Iquid. The question of money then A GOOD TEAM
Magistracy.
came up and accused satù that at After a brief outline of the case least $10,000 was required, - Wit- summury the team was a ¦ was given by. Mr. Macnamara,ness repiled that he could only "The amount of the new busf-year now under review. it has fine one. If not unbeatable by the | Sergt. T. Cashman was called. He | afford between $8,000 to $10,000. ness is the largest in the history fallen to £573,212, or Iess than best of the British teams who or the association, it is £1,017,- half of the amount at the begin-scrummaged hard, spoiled re 718 more than the new business ning of the depression and £78,-lessly, tackled with the gusto, of of the previous year, and £268 820 less than in the year ended a Davey or Cranmer in midfield, 975 more than that of the year September 30, 1934. Efforts are, and, what was hardly less impor- 1929. which previously held the of course, constantly made to distant, did not play into the hands record. The increase in the total suade members from surrender- of master, opportunists by throw- amount assured is, however, noting their policles lightheartedly or ing and kicking the ball about 50 remarkable as the increase in
wildly. Whenever all these things the number of the policies issued,
occurred the Third All Blacks which was 3.883 greater than the
were" · "up against it"--and who number issued in the previous
should wonder! year and 6.848 greater than the number for 1929.
29
INCREASE IN POLICIES "The large increase in the num- ber of policies issued is the re- sult of the growing popularity of what is known as "group assur ance."
can
By group assurance peo- ple, in regular employment, who pitously had to rely mostly on Industrial life assurances, now. by making small weekly or fortnightly payments, ettäin ali the benefits of ordinary life as- surance at the usual low rates. of premiums.
The association. transacte or- dinary Eft assurance business. It 13. important to remember this when comparing its ngures with thase of companies which tran-" snet both ordinary ahd industria! assurance business.
"The association's membership comprises all classes of the com- munity: the amounts assured un- der individual policies issued dur ing the last year ranged from £20 to £50,000 and irrespective of the amount of the assurance the terms of membership of every policy-holder are essentially alike. (All policy-holders have one voter for each hundred pounds insured up to a limit of twenty votes).
INCOME INCREASED
1,753,- An
"The total income for the year was £5,233,822 of which £3,480,078 was from premiums and consider- atlon for annuities. and 433 from Interest and rents. amount of £73,209 was
pald 'to other companies as reassurance premiums, leaving £3,405,889 ás the net amount of, the premium income, as shown in the revenue account. This was An increase
cf £106.387 over the correspond- ing figure of the previous year. The revenue from Interest and rents has had to bear rates and taxes-mostly income tax- amounting to £142,318, $0 that the net amount of Interest and rents received was £1,811,115. which represented" a return on the mean funds at the rate of $4/4 per cent. The gross inter- Est revenue, before deduction of the rates and taxes, was equal to 4/11/5 per cent of the menn funds.
+
then prevalling. Since then, year by year, the amount paid has steadly decreased until, in
the
without due thought. This tends to reduce the amount of surren- ders; but the progressive reduc- tion that has taken place in the last four years is. I am gure, true indication of increasing prps- perity among the community generally.
а
In
{Continued from Page, 10)
Jüst as in the past nothing succeeded like success for New Zealand, so this time British' con- fidence, never quite subsided once CHAIRMAN'S 'DEATH
the pioneers of the earlier matches During the year the aksects had shown that defeat
was not Mac-inevitable, Besides, with all our tion's chairman Sir John Farland and its principal medical faults, British Rugby has greatly officer Sir Richard Stawell and advanced in forward tactics and the general manager Mr. E. J. also begun to develop back-play Stock died. The chairman refer- suited to modern conditions. The ring to Mr. Stock said:-Mr. Welsh backs and the English, for Stock entered the service of the example, in spirit, physique, and association in August, 1875: he all-round skill and pace were' at was, in fact, its first junior clerk, least 50 per cent. better than those and entered under articles of ap- who faced the All Blacks of 1924- prenticeship. He died on Aug. 25.
The claims by death that arose during the year amounted to £1,- 003,200 which was' dhly £8,171 more than the amount in the previous year. Th's was in 'spite. of the fact that the amount of the assurances in force haddin- creased more than £5,000,000: The amount of the actual claims was only 85 per cent of the -amount to have been expected ilc--| cording to the mortality tables used in the actuarialvaluations of the association's abilities. POLICIES MATURED O "We paid under policies matur ed during the year a total amount of £1,300,572, as compared with £1,100,233 in the previous year. Speaking broadly, these large payments are the aggregate re- ward of the thrift effort, ofte large section of our membera They elected to save through the medium of the association, and Have lived to see their pur- pose happily accomplished The amounts mentioned relating to claims and "maturities are those
SIR MALCOMM CAMPBELL who bear his own world's au- tomobile speed rec- ord by driving his famous "Bluebird" 301 miles an hour- over 5 miles a minute.
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deposed of his visit to room No: 57 Witness told the accused he did of Hotel Ced on January 4 last not understand how the notes could at about 10.30 am with inspector; be manufactured and the accuseds Murphy and of the arrest of the then proceeded to show him. accuseds and three others who were After demonstrating the process to formerly charged with them, but witness, witness told the accuseds had since been dismissed sta that he was going to have them (former hearing. Certain apparatus | arrested as he was sure they had in leather cases and a rattan, bas-been swindling the public for some ket were also seized which were time. Witness wanted to phorie for inter-found to be used for printing banknotes..
the Pollée but was prevented on two decasions and later he got in | touch with his foki who after being told of the whole stair advised bim to go to the Police.
-Lai Wa Tong, a shopkeeper sald that he knew the man by the name of Tam Lin. Witness frst saw second accused on December 1935 The accuseds' wives later arrived at Nathan Hotel. He came to know and the first accused's wife offered the accused through the men
witness $1,000 which witness re- surnamed Lau and Chan: A confused. Three more men camë arid versation took place in the room witness then telephoned for Tam in the course of which the second Lin (complainant in the other accused told witness that he had charge) who came and as he enter- a relative who had returned from ed the room, he told first accused Germany and knew how to print that he had nearly ruined his Mfe banknotes: Witness questioned the since he had taken away so much accused who gave him an assur of his money. ance, and further asked him to furnish money for capital." "Wit- ness replied that he could get $8.000 or $10,000,
Outstanding
Locer & Mrs Tosicco Co. (GITHA),
for mildness
for better taste
After cross-examination by the defending solicitors the hearing was 'adjourned till. February 4 at 10. a.m.
No sleep last night?
TRY
"BLACK & WHITE"
BOLE AGENTS :----
DODWELL & CO., LTD.
HONG KONG BENEVOLENT - SOCIETY
7
All donations gratefully received by the
Hon. Treasurer Mrs. M. J. De Ville,
265, The Peak.
Old Clothes at
1i
The Daily Press Building
1
Mondays & Thursdays.
SIR MALCOLM CAMPBELL -not given much to talking-but strong on performance. Like most men he smokes cigarettes-we don't know what brand-but we do know he is one of the world's outstanding sportsmen.
hesterfield CIGARETTES
AND CHESTERFIELDS—
In the cigarette world,
Chesterfields are outstanding for mildness-outstanding for
better taste.
ず
They too are willing to let the record do the talking.