Many fill statues with various mantra rolls or fill stupa's with them. This is a roll of the 100 Syllable Mantra of Vajrasattva. Many traditions will put in any statue at least one roll of this mantra. This roll is very large. It can be split up for numerous statues.
The Benefits and Merits of consecrating the statues are said to be:
Increase in wisdom
Purify defilement and obscuration
Health and longevity
Gain respect
Gracious appearance
Increase wealth and prosperity
All wishes fulfilled
Attain Buddhahood swiftly
Sogshing represents the center channel for the statue and is only a part of consecration.
For fully consecrating your statue you can call us or ask your Root Lama or Master for guidance.