SOUTH BRITISH INSURANCE COMPANY.

North Otago Times, 11 October 1907, Page 4

SOUTH BRITISH INSURANCE COMPANY.

Per Press Association. Auckland, Oct. 10. At the annual (moeting of tnc South British Insurance Company tho chair, man said the year opened satisfactorily, but during the second half there was a bad cycle throughout Australasia, which affected the years' results. While the fire and Marinelwiness went so indifferently the acci taut department justified its creation. The experience of the leading fire-insur-ance companies of the world during the last twelve months tended to

show- how important it was ili e to the public and shareholders that the

reserve 'funds should be large crouch to meet any emergency. It vouid l>c the policy of the directors to augment the reserve on every possible occasion Ho regroHcd Aliat Vac fire business was still in an unsatisfactory eordition, it being m insufficient tq 1:0vei the losses and expenses, leaving no, margin for conflagrations, and thecontributions imposed, on' companies for the .upkeep of fire Brigades wcjiht cost tliem something like 10'per- eent. of their revenue in fire Board districts, in the AuoUaiyJ fire district the company's contributions would amount to 81 per cent, on the revenue-* most oppressive Ho expressed a hope that it would be ros. , slMoto secure such a n improvement in tho firo rates a s would giwe the companies not onlv some margin over losses an:i expenses, but rwscna v provision for conflagration co> ingencies The report anl the balance shecd. already circulate! were adopted, toother with a resolution con-erti„ ? ifo f< , raPany nto one cf a limited character ful by-laws, as hid hern dnHn T„wcargili and WHlinelon. TV Bar dressers' -Association intended faking up the mrttor on Vs n+.rn ■ h St-Andrew's Church was followed hj