SALARIES AND COMMISSIONS.

Auckland Star, Volume XLV, Issue 169, 17 July 1914, Page 6

SALARIES AND COMMISSIONS.

THE FIRE DEPARTMENTSTAFF. AN INTERESTING POSITION. illy Telegraph.— Parliamentary Reporter.! WELLINGTON. Thursday. A singular condition of affairs in rc.'•ird to the State Fire Insurance Department- U revealed in the annual report of the general manager, who mentions that during the last four year- no fewer than oil per cent of the department's employees have left the service, attracted by the higher salaries paid by private companies. '» ,lv ' I )ilsl l 1"' salaries of the Slate Department, par•ticularlv those of the more responsible men. have been less than half those paid for similar positions in proprietary concerns this being due mainly to Unlimited profits made up till the last few years. However, since Hie beginning ot last year a commission system has been in operation, and the general manager notes a marked improvement in the interest and enthusiasm of the staff. The past year was the best in the department's history, the net profits totalling JC 1.1.44:1. The net income increased by _5,0u0. ami there i- a reserve fund of over CfM.OOO, so that the danger of ever calling upon the Government for assistance may be regarded as being exceedingly remote. Last year's premium income was Cj0.417. and tlic losses

ACCIDENT AND LIFE INSIRANTF.. Reporting on the accident branch of the Government Insurance Department. the Commissioner suites that, although the-additional liberality imposed by the Compensation Amendment Act. 1013. together with the revised scale of rates recently adopted, may. to a certain extent, diminish the income and increase Ihe claims, in future the financial position of the branch may lie looked upon its unassailable. Gross premium income amounted to £-2:1.07., claims paid Cll,-402. and the total assets £78,000.

Another satisfactory year was ex- oi periem-ed in the life insurance branch, c: over a million sterling of new business having been secured. The total inenme was .£OOO,OOO. an increase of .£9.754. During the year 455 policies became void < by the deaths of policy holders. the > eia.ims amounting to _104.(i.'12. This t amount ir considerably under what is Jj provided f- r in the tables of mortality t used by the department. Five hundred and forty-tour policies also matured, for ], £133.750. The department's reserve funds now amount almost, to five mil- a lions sterling. a