NEW ZEALAND FARMERS' UNION.

Hawera & Normanby Star, Volume XLVIII, Issue 8144, 16 December 1904, Page 2

NEW ZEALAND FARMERS' UNION.

TARANAKI MUTUAL FIRE INSURANCE ASSOCIATION.

ihe i Th ? ? rifc B enera^ .meeting of the above ■ on association was called by circular, and ws§ io\ held in the Eltham Athenaeum Hall on Thursday afternoon. Only those who e j_ signed the original requisition were notifi3' ed, as they alone ; haji power to vote. h * Mr Boddie was voted to the chair. j v . There was an attendance of over twenty A I •übscribers. Q Mr Boddie, in the course of hit opening remarks, said that .although the meeting was small it was representative, and that the business they had met to transact was of great importance. The , Mutual Fire Insurance movement was entirely the work of the Farmers' Union. Mr Hall, a prominent member of the Union, had gone to America, and got all information available on the spot, the net result of which was to make a long story short, the Mutual Fire Insurance Act of 1003. Mr Boddie further went on to recapitulate the steps that had been er taken throughout the colony to get the various associations, under way, eulogising the work done by Mr J. G. Wilson, li- 1 colonial president of the Union, in this lie I respect. The terms of reinsurance, I which had finally been submitted, were >k not so good as bad been anticipated, but es I would do, failing anything better. Powers jr. I were given under the Act to raise funds c- I up to 60 por cent, of the value of the 1- I premium notes. One interesting fact he_ Eil I might mention that in £800,000 worth' of ■ <o I property that had been promised to the J n I Mutuals, there had .only been one fire in s- I eight months. Mr Boddie then invited 1, I an informal discussion before proceeding >• I to formal business. >■ c I Mr Maxwell thought it would be as well/ y I for thin meeting to empower tho direc-, ). I tors to deal wilh premium notes in case of •- I necessity. i I Messrs Thomas and Hodgson thought ft y I would be as well to make clear what mem1 I bora would be liable for, i.e. from 1 per % I cent, to 2 per cent, of the total value of ] I their insurance, which would only be callI cd upon in case of necessity; and the reI sponsibility only lasted during the curI rency of the premium notes. The doctrI ment that had been signed wag simply an I evidence that' the association was wanted, t I Every subscriber would have to send in an < I application for insurance with all partko- -, I lars in the usual way. , I Mr Murray moved formally that the I name of the association be the Taranaki ! I Farmers' Mutual Fire Insurance Aisocia- [ tion, and the place where business is to I be conducted be Eltham. — Seconded by Mr [Corbett, and carried. I Considerable discussion took place as to> I tho number of directors. A motion, proI posted by Mr Murray, and seconded fey Mr 1 Lloyd, that the ■umber be seven, waa I carried. Two amendments, one that ihsr [ number be nine, and the other that tfaa [ number be five, were lost. I There were nine nominations for the I directorate, and the result of the ballot I was the election of Messrs Lambie, ForEsyth, Ulair, Maxwell, Boddi* Baker, and I Murray. ( At a meeting of directors held nbseI quently, Mr Boddie was elects* chairman. Terms of reinsurance offered were than * discussed, and the following motion car- '" < ried unanimously, Thai tot directors be « ' authorised to adopt the reinsurance schema ■' Utt before the Hurting, .« thto •f^ST f stderatton think fit, or to mat* othtr ar- 4 r.ngements.-.Movid by.Mr M«*wiSJJS A seconded by Mr B.aker. , -V .-4 Conditions and Jprajs w*r* tbsii afprov- * I ed and adapted; >■ r m