FARMERS' FIRE INSURANCE ASSOCIATION.

Otago Witness, Issue 3247, 7 June 1916, Page 14

FARMERS' FIRE INSURANCE ASSOCIATION.

ANNUAL MEETING. The eleventh annual meeting of the Otago Farmers' Mutual Fire Insurance Association was held on the 31st ult., Mr William Grey presiding. There were about a dozen delegates present. The Chairman said that, before proceeding with the business, he thought it only fit and proper that they should record their deep regret at the death of one of their original and most valued directors, Lieutenant-colonel Stewart, who had died in Egypt while on active service. The directors had already expressed their sympathy with the widow and family of their late esteemed friend. The year had been a really good one for them, as the figures presented by the secretary showed, their fire losses being only £5 for the year. The profit was £628 9s 4d, and the increase in business £35,161. In consequence, their reserve account had been very materially increased. The directors, in view of successful operations, had again reduced the already low rates, and looked forward in consequence thereof to being able to record a very large increase in business during the current year. No company offered rates as low as the Mutual." It had always been a puzzle to him that farmers were so slow to support their own association and union in view of the endless complaints received. When institutions were formed from which they could undoubtedly better themselves by combination, it was frequently found that those most given to complaining stood aloof, instead of stepping in at once, and deciding that they would, as farmers, combine, as did other classes of people, to their mutual advantage. He again asked them to support the Mutual, as it was to their advantage to do so. Mr A. J. Webb seconded the motion, and said that a number of farmers did not support the association as they ought to do. The Secretary (Mr Hugh Mitchell), in reply to a question, stated that the rate this' year was 6s 8d on dwellings, as against other companies' 8s Bd. One delegate said ho thought it should be reduced to ss, and another said, jocularly, that if they had all the farmers they could reduce the rate to nothing. During some further discussion, the secretary said that every rate was considerably under those of companies. The motion was carried. The following office-bearers were apappointed :—Directors—Messrs W. Grey, I). M. Philip, A. 8. Orbell, J. Clarke, J. Christie, A. J. Webb, and A. B. Armour;

auditor, Mr T. H. Thompson. The remuneration for both directors and auditor was fixed at the same sums as previously.