INSURANCE CO.’S AFFAIRS

Greymouth Evening Star, 6 September 1938, Page 12

INSURANCE CO.’S AFFAIRS

CH.CH. POLICY HOLDERS. [ PER PRESS ASSOCIATION.] CHRISTCHURCH, September 5. Sixty policy-holders of the Public Mutual Insurance Co., at. a meeting here to-night, expressed their dissatisfaction with, the conduct of the general affairs of the company. Most of those present said that they were unaware that they had any liability in the company. The meeting was presided ovef by Mr A. A. McLachlan. A committee was set up to investigate the position, and to co-operate with other South Island cepties, where, it was stated, hundreds of holders had also received circulars. The committee appointed was: — Messrs McLachlan (chairman), F. E. S. Dale, W. A. Britten, F. G. Tidswell, K. S. Robinson, and J. A. Henry, with Mr R. N. C. Hill as honorary secretary. The hope was expressed by Lie meeting that the committee- would darw the attention of the Minister of Internal Affairs, as early as ,was possible, to the affairs of the company. A levy of 1/- in the £ on the amount levied by the company was fixed as a campaign fund, the maximum being fixed at ten shillings. The meeting also expressed resentment, on the lines of the Rotorua shareholders’ meeting, that only the members who had paid the levy would be entitled to vote at the general meeting on September 22. WELLINGTON ATTITUDE. WELLINGTON, September 5. Wellington policy holders in the Public Mutual Insurance Company of New Zealand stated one of them are very dissatisfied with the action of the directors in issuing a demand for two and a half times the amount of the current year’s premiums as a levy without any accompanying statement or account to satisfy them, and also with their action in calling a general meeting in Auckland on September 23, with the notification that nobody who has not paid the levy will be entitled to vote. In view of the position, it is probable that a meeting of policy-holders will be called here shortly.