Page 3 Advertisements Column 7

Otago Daily Times, Issue 6441, 4 October 1882, Page 3

Prospeotua. PROSPECTUS of the EQUITABLE ; INSURANCE ASSOCIATION OF NEW • ZEALAND. FOR FIRE, MARINE, LIFE, AND FIDELITY GUARANTEE ASSURANCE. HEAD OFFICE, DUNEDIN. Temporary Offices: Albert Buildings, 148 Print* street (opposite Post-office). CAPITAL, £1,000,000, in 500,000 SHARES of £3 each. ', First issue, 200,000 Shares, in respect 0/ which ther* shall be payable 6d on application and 6d on allotment, and two calls of fid each, pajabl* at intervals of three and cix months after allotment; beyond which it is not intended to make any further calls, but if any call be required It shall not exceed Od at one time, and three months' notice shall be given. PROVISIOSAIi DIBBCTOKS (With power to add t» their number): donkdih: Messrs JOHN BATHGATE, M.H.R. E. B. CARGILL GEORGE ESTHER, of Esther and Low JAMES GORE, Mayor WILLIAM GREGG, of W. Gregg and Co. D. GRANT, of Granton JAMES HAZLKTT, of Mackerras and Hazlot* JOHN HISLOP JAMFS HOGG, of Hogg, Howiaon, Nlcol, and Co. ALLAN HOLMES W. HAYMAN, of P. Hayman and Co. J. MAITLAND JONES, of Proctors, Jones, and Co. FRANCIS MEENAN R. PATERSON, of. Faterson and M'Leod C. S. REEVES JAMES ROBIN, of J. Robin and Co. A SCOULLAR, of North and Seoul)*! JAMES SEATON, M.H.R. J. SPEIGHT, of J. Speight and Co. JOB Wain, Jn.v. JAMES WILKIE, of J. Wilkie and Co. T. M. WILKINSON, of Wilkinson and Peltil JAMES WILSON, of J. Wilson and Co.' CHARLES ZIELE. IKVEROAROILL : Messrs W. BULLEID, of Price and Bullcid A. BLACK, of Rcdgers and Co. THOS. FLEMING, of Fleming and Gllkison P. L. GILKISON. of Fleming and Gilkison JOSEPH HATCH J. KINGSLAND, of Kingsland and Sons A. MAIR W. S. MOIR, of Moir, Johnston, and Co. W. J. MOFFETT H. E. OSBOBNE W. PAISLEY J. G. PRICE, of Price and Bullied W. PINKIEKT, of Pinkiert and Nowman W SLOAN, of Sloan and Sona HENRY WILSON, of Cowper and Wilson, .OAMARU: T. MEEK, of J. and T. Meek J. ALLAN 1. CRAIG, of J. Craig and Co. A. J. S. HEADLAND • G. DALGLEISH, of M'Callum and Co. S. GIBBS W. H. S. ROBERTS J. HOOD, of Hood and Shennan J. BARRACLOUGH J. M. BROWN JOHN M'COMBE S. E. SHRIMSKI, M.H.R. Dr. WAIT. (Other names will be added in a day or two.) Who eha'l hold office for not longer than one month after allotment of the shares, when a meeting, of shareholders will bo convened for the election of Directors for ihe first year. Names of Provisional Directors in ethor centres will be added in future advertisements. Bankers : THE COLONIAL BANK OF NEW ZEALAND. •' Solicitors : Messrs BATHGATE & MEESON. Brokhrs: Messrs W. P. STREET 4 CO., Liverpool street.. Interim Secretary : W. C. KIRKCALDY. ■ • FIRE AND MARINE DEPARTMENT. . There exists among insurers in this Colony a feeling of dissatisfaction with the present system of Firs Insurance. Rates are doomed too high by insurer!", but are affirmed by insurance offices to be no higher than is dictated by prudence. The only solution of the difficulty Is the introduction of a principle whereby the insurers may receive a share of the profits by the issue of bonus policies. Every insurer may thus obtain a direct interest in he business done, and while the premlumß are maintained at a rate which will afford sufficient stability to the Company in the event of extraordinary looses, the insurers really reap a benefit, as they staara In the profits earned. The profits will be applied in the first instance to the payment of interest to the shareholders at the rate of 10 per cent, on tho paid-up capital, and'ths profits beyond the amount required for such payment will be applied as follows:—After making suitable provision for a Reserve Fund and for an amount to carry forward, a moiety of the balance will be reserved for the formation of a Bonus Fund for distribution among the owners of bonus policies on whose risk there shall have been no loss, and the remaining moiety at the disposal of the shareholders. The advantages of this system are obvious, as every insurer having a direct interest ir» the welfare of the Association will no doubt be induced thereby to exercise greater caution, and use his influence to bring as much sound business to the Company as possible;,' A large number of Shares have already been applied (or, but none will be allotted till all applications havo been received, as it will be the policy of the Directors to allot the Shares as widely as possible among probable insurers. ECONOMY AND CO-OPERATION will be made leading features in the management of the Association, end these are principles which cannot fail to ensure a marked success, especially as thb flrb boßinf.Bs will be confined to the colony of New Zealand, and therefore under tfib immediate, control of the directors. LIFE DEPARTMENT. The want of a local life assurance company has loß|r been felt, an d this want has been only partially supplied by the Government scheme, while the scale of premiums chargeable by foreign companies also doing business in leas healthy regions is slightly higher than that which could with safety be adopted in our own more temperate climate. »•■ This branch of the Association's business will be conducted solely on the mutual principle—that is, tho wholo of the net profits will go to the policy-holders on a system at once safe and equitably while the shareholders are benefited as the combination of. the two branches of the business is conducive to economy in management, and affords opportunities of commanding business not secured by companies devoted to either branch alone. The success which has attended mutual life assurance companies elsewhere has been most remarkable. As an instance, the Colonial Mutual Assurance Society of Melbourne may bo quoted, which during the first year issued 457 policies, and at tbe end of the eighth year had 4313 policies, with an annual income of £161,450. Although power will be taken in the Articles of Association for the carrying on of this branch of the business, it is not intended to open the department until the Fire Business has been well established, and until the services of a thoroughly competont actuary have been secured. The following reasons may bo adduced from among many which might be urged to show the certainty that success will be attendant on the Company's operations :— 1. The Association will supply two acknowledged wants—viz.: Fire Insurance, conducted on principles equitable to insurers; and Local Life Assurance. ■ 2. The nature of the business to bo engaged in is ordinarily very profitable. 3. The diversity of the Association's operations constitutes a great source of strength." i. The Association combining the popularity of the co-operative principle together with the security to be derived from a widelj-diffused proprietary. The Memorandum and Articles of Association may be inspected at the office of the Solicitors. Applications for shares, which shall be made on1 th« prescribed form, must be lodged with tho Secretary, the Brokers, or the Colonial Bank of New Zealand, at any of its branches. dUßineis* Notice*. FISHING TACKLE. FISHING TACKLE. fPHE REAL "KhLSQ," Just Arrived. ROBERT ANDERSON & CO., Ironmongers, 169 George street, Dunodin. 88 T AWN TENNIS FETS, Eacquetu and J Balls. Season's Stock now to hand. Also, Large Stock of Cricketers' Material. ARTHUR BRISCOE & CO On SATURDAY, 9th SEPTEMBER, We will make a GRAND WINDOW EXHIBITION. Of "VTEW SPRING GOODS. NORTHERN WINDOW,—New Prints, Satteens, Zephyrs, Ismailiae, Kafradoware, and other Washing Materials. LARGE CENTRE WlNDOW.—General Exhibit of Straw Goods, Millinery Bonnets, Laces, New Mantles, Jackets, Drojs Materials, and sundry Fancies. SOUTHERN WINDOW.—Men's Mercery. INTERNAL.—VaIue Second to none in the City. THOMSON, STRANG, * O Cutting, Princes stree . '" BIURGON & BALL'S SHEEP SHEARS. WARD & PAYNE'S SHEEP SHEARS. RABBIT TRAPS. GALVANISED WIRE NETTING. FENCING WIRE and STANDARDS. NEW ZEALAND HARDWARE COMPANY, Cumberland street. • 29s • ■ PROTECTION-FROM FIRE. mHE NATIONAL INSURANCE COMPANY OF NEW ZEALAND Issues Policies against FI R E AN D MAR IN E RIS X S Of every description AT CURRENT RATES OF PREMIUM. Head Office : Custom-house square, Ddkedin. YATT'S BATHING ESTABLISH11ENT, near Octagon.—Private Hot Ilathß, Tepid Swimming Baths; open daily. The Ti»kish and Russian Baths are highly recommended by the Medical Press for the treatment of Rhoumi.tism, Sciatica, Gout, Dropsy, Neuralgia, Colds in the Head and Chest, &c. . ■ ■ 15au Ci ASALIERS.—GOLD MEDALMEL\JT BOURNE EXHIBITION, AGAINST THE WORLD. 200 designs. Best value in New Zoaland. A. &TBURT;