FARMERS' FIRE INSURANCE.

Dominion, Volume 2, Issue 497, 3 May 1909, Page 10

FARMERS' FIRE INSURANCE.

At' an annual meeting of.the Hawke's Bay Farmers' Mutual Ere-'lnsurance: Association (telegraphs our ; special Hastings correspondent) tile report and ' the association to .bo'in a sound finwicial position;'tho surplus of ,; assets over ,liabilities being £3800 odd. The : association had now been 1 in,existence three years,, and held close on £70,000 of insurance; and the support given to it was steadily increasing, as farmers recognised that 'the policy of tho directors was. progressive and wholly in the interests of-the fanning community. The chairman (Mr. John Beatson), in moving the adoption of tho report and.balanoe-shcet, stated that the opinion of tho majority j.f the directors was that only, the amount of cash necessary for paying working expenses was wanted by the Doarj. . The tariff rate was now. fixed at ss. per cent. on. first-class risks. He stated that the farmers' money was better in tho , .pockets/ of tho'.., insurers': than ,in the -hands of • the, bankers.of itho'.association, and:-that , he was . confident that should ■a' fire , occur . there.'would ;be : no ; difficulty, eitter-in paying;. : out the claim or.;jn'.'cojl?c&Ssi^ , fn!jCMsary; ; .assessment.-. The premium _tfote',;system"\was' incorporated jin order that'a-'reserve'-'should be formed by-that/method, and not by charging high premiums.' Other, speakers followed in similar strains... V On the motion of Mr. ,J. ■ N. Williams,: the: . fallowing gentlemen, were elected as" the ; board or directors for the ensuing year:— ! Messrs. John Beatson, E. O. Clarkson, J. W. Harding, F. E. Nelson, B. Chambers, W. H. j Smith, R.' B. Humphries, and A. R. Watson;, j. All the available members, of -last-year's board (six out of nine)' were returned. According to an Eltham Press Association J telegram, at tho annual meeting.of tho Taranaki Farmers' Mutual. Fire Assurance Association on Friday,, .the .. directors' report • showed that the net; .insurances had in- ' creased during tho year .from £186,914 to £194,103. Policies;in force number 772, the ? premiums on income', increased 'by. £110, and : the cash 'reserve by. £869'125; 6d.-Fire losses during the year totalled £150, against £755 in tho preceding-year. : ■ '! i -Sc...'