§ 37. Mr. GINNELLasked the President of the Board of Trade what the alleged asset of £112,493 14s. 1d. in the 1913 accounts of the Colonial Mutual Assurance Society, Limited, consists of; and whether it is available for the benet or security of those insured in that concern?
Mr. RUNCIMANThe sum of £112,493 14s. 1d. appearing as an asset in the balance-sheet of the Colonial Mutual Life Assurance Society, Limited, under the description of "Extension of Industrial Organisation Account," represents the proportion of expenditure which is attributed by the society to the organisation of the industrial branch of its business as distinguished from the expanses of carrying on the business. The value of this expenditure is available, with the other assets shown in the company's balance-sheet amounting to £3,658,000, for the policy holders of the society.