FARMERS’ CO-OPERATIVE INSURANCE ASSOCIATION.

Lyttelton Times, Volume CVI, Issue 12586, 22 August 1901, Page 6

FARMERS’ CO-OPERATIVE INSURANCE ASSOCIATION.

ANNUAL MEETING. The tenth annual meeting of shareholders in the Farmers’ Co-operative Fire and Marine Insurance Association of Canterbury was held yesterday. Mr F. D. fS. Neave, Chairman of Directors, presided, and about twenty shareholders were present.

Tire Chairman, in moving the adoption of the report and balance-sheet, a synopsis of which has been published, said that the increase indicated was, comparatively, a large one. The loss, though nob very great, had been mainly in connection, with fire, the losses in marine being very light. He referred with regret to the loss of the late chairman. The balance was very much the same as last year. As they all knew, the Government Fire Insurance Bill, which was a dangerous element for fire insurance, had been abandoned. It was a good thing that it had not been passed. The directors hoped to establish new agencies throughout the colony, and efforts in that direction were now being made.

Mr W. B. Howell seconded the motion. Ho said that the report showed that the Association was forging aftead, and so long as the Government did not interfere with tilings that did not concern it, the Association would do very well. Mr 0. Simpson said that in his opinion the business of the Association might be pushed to a greater extent than at present There should' be a more equitable adjustment of the premiums in regard to farmers and townspeople. He thought that the Association might be more progressive.

The Chairman said that it would be impossible to alter the rates, on account of the system of re-insurance. All- the Association could do was to give a bonus at the end of the year, on the premiums. This year the losses of the Association had been nearly, all on farming houses. The Association was bound by the rates of other Associations. The motion was carried. The Chairman said that four nominations, besides those of retiring members, had been received for positions on the directorate. It was proposed that all those nominated should be appointed, and the Board would then number eighteen. This was agreed to. The new members are Messrs R. Blunder', H. Overton, D. Buddo and T. W. Adams, and Messrs W. Boag, H. F. Gray, J. Gough, D. M* Mi Hair, and E. P. Sealy are those who have been re-elected.

Messrs A. A. M’Keilar and H. W. Peryman were re-elected auditors.

A vote of thanks and a bonus of 5 per cent were accorded to the staff for .vices during the past year. ,