FARMERS’ INSURANCE

Evening Star, Issue 18650, 3 June 1924, Page 1

FARMERS’ INSURANCE

ANNUAL MEETING OF ASSOCIATION The nineteenth general meeting of the Otago Farmers’ Union Mutual Fire and Accident Insurance Association was held this morning, Mr W. Grey (chairman of directors) presiding over a large attendance of shareholders. ANNUAL REPORT. The Chairman, in moving the adoption of the annual report, and balance-sheet, referred to the loss occasioned by tho death of their late .secretary, Mr Hugh Mitchell. Mr Mitchell was a secretary ot keen business adtitude, and fulfilled his duties during his sixteen years of others with ability and success, Air Cameron, their present secretary, was appointed to his position on October ,1, 1923. “ WJion one recalls,” he said, “ the many obstacles and seemingly insurmountable difficulties which had to be overcome in the earlier stages of the association, and when one realises the work that has been accomplished, one cannot but feel proud to have been a continuous member of the hoard for twenty years. Commencing with a_ rate of 10s 6d, while other companies’ minimum rate was 13s 4d, your association has gradually reduced, until to-day its rate stands at 5s against other companies’ 8s Bd, representing a saving to-day of 40 per cent, to the farmer on nis lire insurance. But for tho work of the association the rate would still have been 13s or more. By securing onr offices iu Stuart street we have taken a forward step, which I am sure the association will never regret. Throughout the year the board has carried on a progressive programme, and it will bo satisfactory to you to realise that a branch office of the association has been opened iu Invercargill at the request of Uie Southland Farmers’ Union, 1 appreciate the support which my co-directors have given me during the year, and thank them for their assistance and attention to the business of tbo association. I also wish to thank the secretary and staff for the energetic manner in winch they have fulfilled their duties.

In seconding the motion, Mr John Clarke said that they had somewhat of a chequered career during the year, and referred to the death of their secretary. However, they were very fortunate in having such a man as Air Cameron to fill .Mr AlilcheH’s place, and the speaker thought that he was the right man in the right place. They had taken a forward move, and he did not think that they would ever look back. It was twenty years since tiny started, and he was ph used u> see that they had Air John Henderson, of Ashburton, with them, as that gentleman had been one of the original directors. Air A. G, Leary said that it was necessary that the association should have a profit iu order to increase (be reserves in proportion to liabilities. They could not run an insurance company without profits. Mr J. Christie said that owing to the hot, dry season they had more fires than usual. Ho recommended that they should overhaul their old business. Air John Henderson suggested that the association should do more advertising. Mr Leary pointed out that they were expanding their business, and negotiations had been entered into in connection with the establishment of branches elsewhere. They Lad a particularly flourishing branch in Invercargill. Tho motion was earned nnauimonsly. ELECTION OF DIRECTORS. The following directors were unanimously re-elected : —Alessr.s William Grey (Rnslynj, John Clarke (Clinton), John Christie (Warepa), A. C. Leary (Evans Flat), C. F. Overton (Palmerston), A, J. Webb (Wuipaln); secretary, Stuart I’. Cameron. The question of appointing auditors was left in the hands of the directors. It was decided to increase tho remuneration of directors to £IOO. Air Leary said that there should lie an election of directors annually, and he suggested that two directors should retire every year. A crisis might arise where the whole directorate would bo turned out. Ho moved iu this direction. The motion was seconded by Mr Christie and carried unanimously. GENERAL. In .reply to Mr Edgar, the Secretary said that the sum insured amounted to just over £750,000. In answer to another question the Secretary said that tho association accepted insurance from other than members ot the Farmers’ Union. One speaker contended that fanners who were not memlw.rs of the union .should not take advantage ot their cheap it was pointed out, however, that the muon did not accede to the proposition of I im >to unionists in the matter, and Mir. association had alwavs emphasised tho {ant that it would, lake anyone who came along. Votes of thanks to Uie directors and Uie chairman concluded the meeting.