The Maryport Advertiser Friday, July 21, 1882 Local & District Intelligence (2)

Local & District Intelligence (2)

The Maryport Advertiser - Friday, July 21, 1882

LOCAL & DISTRICT INTELLIGENCE ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ODDFELLOWS. ______________ At the last monthly meeting of the members of the Loyal "Excelsior" Lodge of Oddfellows, Maryport, the following report, on the quinquennial valuation of MR. REUBEN WATSON, public valuer under the Friendly Societies' Act, was read by the secretary: -    The information supplied for this valuation appears to have been prepared with a view to accuracy and completeness.  The sickness which is shown to have prevailed during the last five years gives a reliable insight into the nature of this liability.  Ordinary sickness appears to have been moderate, and so also has reduced pay sickness, and there are no aged members at present.    The full interest rate, as computed in the valuation, has been produced from the invested funds.  The management fund is supported by a fixed rate of contributions.  The income apears to have been quite adequate to the undertakings of this fund.  The valuation lays clearly open the true financial condition so far as the comparative worth of the liabilities is discerned.  There is a surplus of the present value of £79.    If the liabilities are accurately ascertained, the surplus may be augmented for approximate agreement between the experience of the lodge, and the values and products assumed is the main principle on which the calculations rest.    The condition of the lodge is certainly satisfactory, and it will probably continue to improve while its constituent elements continue to be found in agreement with the valuation estimates, but as age comes on, it is frequently found that sickness and chronic affliction bring claims in excess of the data on which the tables are based, and it is therefore very necessary that surplus funds should be carefully preserved, so that no legitimate claim may be rejected, nor the promised benefits be at any time reduced. On the conclusion of the reading of this report, it was unanimously agreed that a hearty and cordial vote of thanks be accorded to BRO. TOM WAITE, the secretary, for his indefatigable labours in preparing the quinquennial returns (for it is from this source that the above satisfactory report is derived), and that the same be entered in the minutes of the lodge.

 

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