H.—l

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24. The valuation balance-sheet of those lodges of the U.A.O.D. whose funeral benefit is reinsured with the Grand Lodge of Australia relates to the sick fund only. In the report on the valuation of the funeral fund of the Grand Lodge of Australia, as at the end of 1891, the deficiency is shown to be £18,705, due chiefly to the reckless reduction of the annual contribution per member from 6s. to 4s. As the valuer advised, among other reforms, the immediate restoration of the former rate for present members, the boast that no other society charges so little for the funeral benefit is singularly out of place. Unless the business of an assurance society is conducted under actuarial advice, stability cannot be expected. Moreover, the recent financial depression must have more or less reduced the value of the society's assets. A rate of interest averaging, for the last three yea.rs, 4 per cent, per annum proves that the deficiency, great as it is when calculated on a 5 per cent, basis, is yet understated. At the establishment of the Grand Lodge of Canterbury the annual contribution to the funeral fund was fixed at 6s. per member. Yet in this fund, when valued as at the end of 1893, there was a large deficiency, which was in great part due to the fact that the sum receivable from the Grand Lodge of Australia was far short of the amount which the newly formed Grand Lodge ought to have had in hand when it took over the liability. 25. Societies, on application to the Registrar, may have their valuations made free of cost. The experience of the societies valued in the office, as at the end of 1893, which was uniform in character, represents 15,215 years of life at risk. This experience has been grouped with that published in tabulated form last year, and the combined results are exhibited hereunder.

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

Comparison of Actual Sickness with the Expectation according to the M.U. 1866-70 Experience, in Quinquennial Age-periods.

Comparison of the Average Sickness per Member with the Expectation according to the M.U. 1866-70 Experience, in Quinquennial Age-periods.

Sickness (Weeks). Number of Deatba. Age of Members. Number of Years of Life at risk. First six Months. Second six After twelve Months. Months. Total. °' b Mem- Ofwive , Under 25 25-30 30-35 35-40 40-45 45-50 50-55 55-60 60-65 65-70 70 and upwards .. 7,894-0 7,893-0 8,043-0 7,578-5 5,999-5 4,832-5 3,554-5 1,883-5 903-5 238-5 130-0 5,133 4,581 5,004 5,350 4,636 5,098 4,666 2,854 1,722 554 366 347 452 388 376 497 620 905 663 372 133 251 656 541 552 729 1,710 2,307 3,081 3,279 2,469 2,081 1,910 6,136 5,574 5,944 6,455 6,843 8,025 8,652 6,796 4,563 2,768 2,527 36 44 83 38 28 41 57 41 15 8 13 6 16 28 34 38 24 28 16 14 4 2 All ages .. 210 48,950-5 39,964 5,004 19,315 64,283 356

Actual Sickness (Weeks). Expected Sickness (Weeks). Age. [ Life at Bisk. First Six Second Six After Twelve Months. Months. Months. Total. First Six Second Six After Twelve Months. Months. Months. Total. Under 25 .. 25-30 30-35 35-40 40-45 45-50 50-55 55-60 60-65 65-70 70 and upwards All ages.. 7,894-0 7,893-0 8,043-0 7,578-5 5,999-5 4,832-5 ; 3,554-5 1,883-5 903-5 238-5 130-0 5,133 4,581 5,004 5,350 4,636 5,098 4,666 2,854 1,722 554 366 347 656 452 541 388 552 376 729 497 I 1,710 620 2,307 905 3,081 663 3,279 372 2,469 133 2,081 251 1,910 5,004 19,315 6,136 5,574 5,944 6,455 6,843 8,025 8,652 6,796 4,563 2,768 2,527 5,220 5,544 6,313 6,403 6,060 5,232 4,867 3,233 1,981 729 510 264 394 586 611 713 851 971 809 633 254 222 144 , 383 670 1,024 1,270 1,626 1,871 1,580 1,384 706 914 5,628 6,321 7,569 8,038 8,043 7,709 7,709 5,622 3,998 1,689 1,646 63,972 ! 48,950-5 39,964 64,283 46,092 6,308 11,572

New Zeala: id Experience English Experience. Age. Total. First six Second six Months. Months. First six Months. Second six Months. After twelve Months. After twelve Months. Total. Under 25 25-30 .. 30-35 35-40 .. 40-45 45-50 50-55 55-60 .. 60-65 .. 65-70 70 and ucwards .. 0-65 0-58 0'62 0-71 0-77 1-05 1-31 1-52 1-91 2-32 2-81 0-04 0-06 0-05 005 0-08 0-13 0-25 0-35 0-41 0-56 1-93 0-08 0-07 007 0-10 029 0-48 087 1-74 2-73 8-72 14-69 0-77 0-71 0-74 0-86 1-14 1-66 2-43 3-61 5-05 11-60 19-43 066 0-70 0-79 0-85 1-01 1-08 1-37 1-72 2-19 3-06 3-92 0-03 005 0-07 0-08 0-12 0-18 0-27 0-43 070 1-06 1-71 0-02 0-05 0-08 0-13 0-21 0-34 0-53 0-84 1-53 2-96 7-03 0-71 0-80 0-94 1-06 1-34 1-60 2-17 2-99 4-42 7-08 12-66