MUNICIPAL ENTERPRISE

Grey River Argus, 28 July 1925, Page 7

MUNICIPAL ENTERPRISE

The Dunedin .City Council has been conducting its own accident insurance risks for eight years, and its tire risks for seven years, nd the result s such as must make the ‘‘Welfare’’ League scribblers livid with rage (sa/' the N.Z. Worker).

Last year in the accidental insurance department the premiums totalled £3,371 and the claims paid out were £2,005, and with interest earned the surplus amounted to £1,991. In the eight years £13,015 has been accumulated or, as the Town Clerk says, ‘‘saved to the city since the inception of the accident insurance fund."

In the fire insurance department the only expenses last year were £5O for adnmistration charge and 5s bank fee. The premiums were £1,894 and the interest earned £1,223, so that the department made a surplus of £3,068 fur the year.

The two departmenls thus ‘‘saved" (from the profiteer) £5,059 for Dun edin City in 12 months, ami during their short lifetime have ‘‘saved" £24,000. Pay attention, ratepayers!

Now you see why the ‘‘Welfare" League considers these activities so malevolently. They interfere with private enterprise and encourage the notion that the public can efficiently look after its own business, tho which is bad for profiteers and ta' ”« oi dividends.

much better it would have been had the South British or the N.Z. Insurance Company been allowed tv commandeer these profits.