Page 3 Advertisements Column 7

Otago Daily Times, Issue 6447, 11 October 1882, Page 3

Proflpeotni. PROSPEOTUS of the EQUITABLE INSURANCE ASSOCIATION OF NKW ZEALAND. FOR FIRE, MA'niNE,"_riFE, AND"'F-DEMTT j ' GUARANTEE ASSURANCE. I HEAD OFFICeT DUNEDIN. - - Temporary Offices: Albert Buildings, 148 Prince, street (opposite Post-office). | CAPITAL, £1,000,000, in 500,000 SHARES of £2 each. First issue, 200,000 Shares, in respect of which then shall be payable 6d on application and 6d en , allotment, and two calls of 6d each, payablo at ' intervals of threo and six months after allotment; beyond which it is not intended to nuke any further calls, but if any call be required it shall ' not exceed Cd at ono time, and throe month.' notice shall be given. . Provisional Directors (With power to add to their Dumber): noNEDiN: Moaars JOHN BATHGATE, M.H.R. E: B. CARGILL GEORGE ESTHER, of Esther and Low JAMES FINCH, of J. Finch and Co. JAMES GORE, Mayor JAMES GRAY, of Reid and Gray WILLIAM GREGG, of Vf. Gregg and Co. " D. GRANT, of Granton JAMES HAZLETT, of Mackerras and Hazlett JOHN HISLOP JAMKS HOGG, of Hogg, Howison, Nicol, and Co. ALLAN HOLMES W. HAYMAN, of P. Hayman and Co. • J. MAITLAND JONES, of Proctors, JoiMW, . and Co. FRANCIS MEENAN R. PATERSON, of Paterson and M'Leod C. S. REEVES JAMES ROBIN, of J. Robin and Co. A SCOULLAR, of North and Scoullar JAMES SEATON, M.H.R. J. SPEIGHT, of J. Speight and Co. ANDREW THOMSON, of Thomson Bros., Port Chalmers. JOB WAIN, Jon. JAMES WILKIE, of J. Wilkie and Co. T. M. WILKINSON, of Wilkinaen and Pettit JAMES WILSON, of J. Wilson and Co. CHARLES ZIELE. UiVEROAROILIi: Messrs W. BULLEID, of Price and Bulleid A. BLACK, of Rodgers and Co. THOS. FLEMING, of Fleming and Gilkison P. L. GILKISON, of Fleming and Gilkison JOSEPH HATCH J. KINGSLAND, of Kingsland and Sons A. MAIR W. S. MOIR, of Molr, Johnston, and Co. I W. J. MOFFETT H. E. OSBORNE W. PAISLEY J. G. PRICE, of Price and Bulllod W. PINKIERT, of Pinkiert and Newman Vf. SLOAN, of Sloan and Sons HENRY WILSON, of Cowper and Wilson. OAMARO: T. MEEK, of J. and T. Meek J. ALLAN J. 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. AUCKLAND I H. F. ANDERSON H. P. BARBER J. M. DARGAVILLE, M.H.R. JAMES DACRK HON. THOMAS HENDERSON, M.L.O. GEORGE HARPER, of Coupland and Co. EDWARD ISAACS JOHN LAMR (Other names will be added in a day or two.) Who shall hold office for not longer than one month after allotment of the chares, when a meeting of shareholders will be convened for the election o! ' Directors for the first year. Names of Provisional Directors in othor centres will be added in future advertisements. THE COLONIAL BANK OF NEW ZEALAND. Solicitors : Mesars BATHGATE b MEESON. Brokbrs : Messrs W. P. STREET * CO.; Liverpool street. Interim Secretary : W. C. KIRKCALDY. FIRE AND MARINE DEPARTMENT. There exists among insurers in thia Colony a feeling of dissatisfaction with the present system bf Fire Insurance. Rates are deemed too high by insurers, 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 rcceivo a share ot the profits by the issue of bonus policies. Every insurer may thus obtain a direct interest ln the business done, and while the premiums are maintained at a rate which will afford sufficient stability to the' Company in the event of extraordinary losses, the insurers really reap a benefit, as thoy share in the profits earned. The profits will be applied in the first instance to the payment, of interest to the shareholders at tha rate ol 1Q per cent, on the paid-up capital, and the 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, oa every insurer having a direct interest in the welfare of tho. Association -will no doubt be induced thereby to exercise greater caution, and use his influence to bring aa much sound businesa to the Company as possible. A large number of Shares have already been applied tor, but none will be allotted till alt applications have been received, as it will be tbe policy of the Directors to allot the Sharea as widely as possible among probable insurers. ' ECONOMY AND CO-OPERATION, will be made leading features in tbe management of »■ the Association, and these are principles which cannot fail to ensure a marked success, especially, as THB Firm Business wiil be confined to the Colont or New Zealand, and therefore under tui r__DU_ CONTROL OF THE DIRECTORS. LIFE DEPARTMENT. ' The want of a local life assurance company has long been felt, and this want lias been only partially supplied by the Government scheme, while the scale of premiums chargeable by foreign companies also doing? businesa in less healthy regions is slightly higher than that which could with safety be adopted in our own more temperate climate. Thia branch of the Association's business will be conducted solely on the mutual principle—that is, the whole of the net profits will go to the policy-holders on . a Bystcm at once safe and equitable, while the shareholders are benefited as the combination of the two branches of the business ib conducive to economy in management, and affords opportunities of conimonding business not secured by companies devoted to either branch alone. The success which has attended mutual life assurance companies elsewhero has boen most remarkable. As an instance, the Colonial' Mutual Assurance Society of Melbourno may be quoted, which during the first year issued 457 policies, and at the end of the eighth year hod 4313 " policies, with an annual income of £181,450. . Although power will be taken. in tho Articles Of Association for the carrying on of tbiß branch of the business, it is not intended, to open the department until the Firo Business has been well established, and until the services of a thoroughly competent actuary have been secured. 1 - The following reasons may be 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 be engaged In is ordinarily very profitable. 3. The diversity of the Association's operation! - constitutes a great source of strength. 4. Tbe Association combining the popularity of- • tha co-operative principle together with-the security to be derived from a widely-diffused . proprietary. The Memorandum and Articles of Association may be inspected at the office of the Solicitors. Applications for shares, which shall be made on the prescribed form, must be lodged with the Secretary,' the Brokers, or tbe Colonial Bank of New Zealand, at any of its branches. Business Notioea. FISHING, CRICKETING, LAWN TENNIS. A LARGE ASSORTMENT of tho above Materials NOW OPENED OUT At JACOBS' GIFT DEPOT. The Trade and Clubs supplied on the most advantageous terms. DEAFNESS!— I have an infallible REMEDY for this distressing complaint, com , pounded from the recipe of the Auriat-in-chief Ol tho London Royal Ear Infirmary (to which the Queen yearly subscribes £100).—Sehd stamp, or particulars and copies of testimonials, to T. B. Hannaford, Auckand, Now Zealand. ■ 30my Legal IToticss. t- <fiJtffe, ■" IN BANKKUI-TOX ■jKJ"GTICE,"-.tlh<- Oi.ar'o Sally Tiiuos is __,$ <iui.j-.aijp-nii6t.il QAZ&Vis fo? til Huiu*. under I!.'. tVtltr,.s*<til l3rcii",37H ."■-> TjIISHII-G RODS and TACKLE, "all , ' ' kinds. KELSO TROUT FLIES. ' •Io ARTHUR BRISCOE b CO.' ' LATEST PATENT-GREAT SUCCESS, to A. b T. BUSf