Page 2 Advertisements Column 2

Star (Christchurch), Issue 5548, 20 February 1886, Page 2

Amusements, Meetings, &ot 8T LEON'S BOYAL PALACE CIRCPB-HIPPO DROME AND MBNAGEBLB OF WILD BEASTS. Proprietors Messrs St Tieon. FASHIONABLE AND POPULAR RESORT. Hundreds turned away, unable to gain Admission. Patronised by tho Elite of this Beautifnl City. POSrMTELT THE LAST NIGHT OF THIS GREAT SHOW, Ab the Company open in Dunedin on Tuesday. Come Early, our! secure your soata, as tho doors were closed lost night at eight (8) o'clock. ANOTHER GRAND CHANGE OF PROGRAMME Oar new prognunme will serve to introduce a host of new performers, together with the Unequalled Company who have already established them&elves Prime Favourites of the Christchnrch Publio. New Equestrian Feats, New nnd Startling Aerial Flight?, and a Host of other Novelties, together with that Evergreen Romance of DICK TTJRPIN'B RIDE TO YORK ; or the Life and Death of Bonny Black Boss, will form TO-NIGHT'S GREAT PROGRAMME. WSATUBDAT, FEB. 20th, GRAND MID-DAY PERFORMANCE (The only one that will be given), When the Children will have a Free Ride ou the Camels used in the Expedition of Bourke and WUls. Doors open at 7. Performance Commences at 8 precisely. Carriages may bo ordered for 10.15 p.m. JAMES MORGAN, 8154 Business Manager, 1.0.0.P., ffi"^|j^!Si|> M.U. LOtfAL CITY OF NORWICH JUVENILE! LODGE, LYTTELTON. ~TV/f EMBBfiS of tho abovo Lodge and the OddJjJL fellAWß* Bond are requested to meet at the Hau Rt 6SO a.m. on Tuesday, the 23 February, 1889, to proceed to Little Akaloa for Annual Picnic. C. BURNS, President. GEO. DIMOND, Seoy. Auction!. TUESDAY, 23rd FED., at 11 o'cioci, And Following Lay, Concluding. 785 LOTS -- WIirHOUT RESERVE. THB CBEAMWF THE STOCK, j M(S3 VEBRALL'B, COLOMBO STREET. Under Distraint for Rent and Under Bill of Sale. Children's Clothes, Baby Linen Logics' tFnderck>thii'# and Lace Goods Ladies' Magnificent Trimmed Hats Latest Fashions in Ladies' Bonnots Ladies' and Children's Silk and Cnshmere Jackets Ostrioh Feathers, Artificial Flowers, Ribbons Crewßl Work, Berlin Wool, Trimmings Handsome Piotures, L eat nor Picture Frames Aprons, Handkerchiefs, Lace and Bead Collars Girls' Stays, Infants' Robes, beautifully worked Fur Trimmings, Embroidery, Fancy Cushions Costly and Snperbly Attired Dolls Sunshades, Girdles, Scarfs, Hosiery Christmas, New Year, and Birthday Cords And a Large Assortment of Choice and Saleable Goods. ARTHUR BBAUCEAMP has received instruc tione from tho Bailiff to BELL BY AUCTION, On the Promise?. Colombo Btreet (Miss Verrall's), . ON TUESDAY. 23rd FEB., And Following Day, at 11 o'clock, aQ tho BEST PAET OF THE STOCK-IN-TRADE, As above. Terms Cosh. No Reserve. 6890 Public Notices. the new zealand government life insurance association. misleadingTcomparison. /TnHH Equitable Insurance Society of the United JL States has published a statement comparing the cost of new business with the NEW PREMIUMS received. The Public are warned against accepting the comparison as a statement showing the true cost of the business. It is MISLEADING because the New Premiums of the Equitable are mostly ANNUAL, whilo those or the Government Insurance Association ore chiefly QUARTERLY and MONTHLY. The New Premiums of the Government for 1884 (£10,387) represent in annual premiums £24,073. According to the annual summary of the business of Australasian Life Offices, published by the AUSTRALASIAN INSURANCE AND BANKING RECORD, ia the number for January, 1886 (page 39, fourth column from end;, the NEW BUSINESS of the Government Insurance Association was acquired at a LESS COST THAN ANY OTHER AUSTRALASIAN OFFICE. A study of the third and fourth columns (from end) of the summary just mentioned will speedily expose the FALLACY of the Equitable method of comparing the cost of the new business. The Equitable comparison, moreover, does not allude to the commission paid for collecting the renewal premiums. The amount expended by the Equitable daring 1884 for collecting £1,698,776 of renewals was £100,812, or nearly BIX PER CENT (Government slightly over TWO PER CENT). The method of comparison adopted by the Government Insurance Association is NOT misleading, because both offices value by a method whioh makes NO ALLOWANCE for the heavier cost of new business. The Equitable spend nearly TWENTY PER CENT of their total premium income on the MANAGEMENT, whilo the Government expenses are but slightly over SIXTEEN PH.R CENT. The I.AfBKD POLICIES of the Equitable during the year 1884 amounted to nearly ONEFIFTH of the Insurances in force. The Lapsed Polioies of the Government Insurance Association for the year 1885 amounted to LESS than ONETENTH of the Insurances in force. FURTHEE FALLACIES EXPOSED. The comparison made by the Equitable of SURRENDERS TO NEW PREMIUMS is farfetched and absurd, as even the veriest tyro in Insurance matters is aware. Emanating from the Equitable as an official production it is inexcusable ou the ground of ignorance. The Equitable ought to be awnro that the ciihli value of a policy is not merely ONE INSTALMENT of a premium, but that it is a proportion of tbe WHOLE of the premiums paid. It would be equally an absurd to compire the CLAIMS with new premiums. '1 he amount paid for surrenders represents in ANNUAL PREMIUMS on new policies issued during 1884, £4024. The annual premiums on new polices issued during 1884 amounted to £24,073. This is totally different to what the Equitable would fftiu make the publio believe. The Equitable have at last ' .been compelled to admit that they have been misleading the public, and that nearly one-fifth of their SO CALLED NEW BUSINES3 for the jear may be designated " bogus," not a sixpence of premiums having been received, a policy having been issued, for every proposal received, whether the premium was paid or not— a method adopted by no Australasian Office. The statement that the Government Insurance Association substituted an opinion for the real opinion of the " Australian Insurance and Banking Record" is not true. In the first place, it was not AN OPINION at all that was quoted ; it was morely a statement of Facts. In the second place, it whs believed that such a reputable journal would not publish such a statement without being duly satisfied that it was authentic. The usual nrecaution was taken of showing the authority by printing the words, "Vide 'Australasian Insurance and Banking Hccovd' for January, :834." Hud that course not been adopted, the Government Insurance Association would have been charged with publishing anonymous attacks. "We have said it was a statement ot facts, and we repeat that "The Equitable has a Tontine, but, stated in Court, in the case of 'Bewley v. The Equitable,' that all tho funds belong to the stockholders of that Corporation, at.d that the policyholders had nothing to say in the matter of their disposal." Then, as to " The Citizen " quotation. It was not taken directly from that publication. It was extracted from a pamphlet circulated by the Equitable, and bearing the names of the Society and of the Mauaijer. The question was merely as to the inveitmente, and the tact that we stated that "1 he Citizen " was generaljy " favourable to the Equitable" supports this. As reluting to the nature of Equitable investments', it was deemed advisable to emphasi-e the sentence. The Equitable acouse the Government of omitting a part ot the context, and yet in an official advertisement published in the " Lyttelton Times " of the 16th February, 1886, the Equitable, in correcting the said omißßion, THEMSELVES CAREFULLY LEFT OUT A PORTION OF THE CONTKXT. "We now reprint tho sentonce, capitalising the words omitted by the Equitable :— " The Equitable itself admits that ou accouut of the greater difficulty of securing remunerative returns on investments, there will not he so large profits in tiino to come, nevertheless tbo bonuseß are certain to be enormous, and those effecting bhcli policies. AND KEEPING THEM UP TO THE END, will not be disappointed." What hidden meaning in those words, "and kenning them up to the end I" The law suits quoted were against offices that had the same conditions in their Policies as the Equitable, and notwithstanding all that bos been said, the fact remains that DEATH TH HOUGH VIOLATION OF THE LAW is bufficient t» render an Equitable Policy void. The Equitable utate that they have never CONTESTED a olaim, meaniug that thoy have never gone to law over a claim, and thoy desire the publio to ansumo that the Government HAVE DONE SO. The Government have never contested a claim. Donbtlees the Equitable, like all other offices, have received unjust claims that have NOT been paid. It would be a misappropriation of the Folicv-hoWers' money for nn office to pay every claim. IRRfcBPEOTIVEOF ITS LEGALITY OR JUSTICE (as for example tho Howard case in Christcburoh). No reputable office would do such a thin?, aud it is presumed that this appellation is applicable to the Equitable. FURTHER FACTS. The average rate of interest on investments obtained by the Government during 1884 was highor than that obtained by the Equirable. The Government rate is RISING, while that of the Equitable is FALLING. The ACTUAL RESULTS of the TONTINE SAVINGS FUND of the Equitable were achieved in the days of HIGH INTEREST. The mortality in New Zealand AT EACH AGE OF LIKE is LOWER than on v other conntry, as shown by Fronkland's Researches, and confirmed by other fellows of the Institute of Actuaries. The Public of this Colony should secure the full benefits arising from the low mortality by insuring in tho Government Insurance Association, whose business is confined to New Zealand. The Publio are requested, beforo insuring, to obtain full information regarding the facts and figures from Agents of the Association. J. C. PRUDHOE, District Agent 3579 D. M. LUCKIE, Manager.