Page 18 Advertisements Column 2

New Zealand Tablet, Volume X, Issue 494, 29 September 1882, Page 18

cies 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 in 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 has already been applied for, but none will be allotted till all applications have been received, as it will be v. poiicy 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 Associarr^nV and these are principles which cannot fail to ensure a marked ana ' ce6s, especially as the Fire Business mill be confined to the &tyjfL<?& New Zealand, and therefore under the immediate control qZ; ?'* «£ Directors. tax LIFE DEPARTMENT. The want of a local Life Assurance Company has long beeuflelt, and this want has been only partially supplied by the Government Scheme ; while the scale of premiums chargeable by foreign Companies, also doing business in less 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, the whole of the net profits will go to the policy-holders on a system at once safe and equitable, 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 Societr of Melbourne may be quoted, which, during the first year, issued. ill policies, and at the end of the eighth year had 1313 policies, with an annual income of £164,450. Although power will be taken in the Artioles of Association for the carrying on of this branch of the busine. s> it is not intended to open the department until the Fire Business has been well established, and until the services of a thoroughly competent actuary have been secured. 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 ia is ordinarily very profitable. 3. The diversity of the Association's operations constituting a great source of strength. 4. The Association combining the popularity of the 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 the Colonial Bank of New Zealand, at any of its Branches. CLEARING SALE! ALEXANDER BROWNE, having purchased the STOCK AND BUSINESS Carried on by A. Walker, General Draper, 176 George Street, At the Enormous Discount of 9s. sd. in the Pound, Has now the pleasure of announcing his determination of making an IMMEDIATE CLEARANCE, Giving the public the entire benefit of the Enormous Reductions in all Departments. The Stock, amounting to £2764, is now being RE-MARKED at exceptionally reduced prices, and buyers may expect the Grandest Value, with undoubted quality, ever before offered in this market, commencing SATURDAY NEXT, SEPTEMBER 16th. FOR FOURTEEN DAYS ONLY. Note. — Mr. Walker has for the past sixteen years enjoyed the reputation of having kept a first-class stock, selected from the best English houses, and his successor, in drawing attention to this fact, desires to assure former patrons and the public generally that he will always have on band a splendid and well-selected stock to meet the requirements of all patrons. SALE COMMENCES SATURDAY, SEPTEMBER 16TH. FOURTEEN DAYS ONLY. COME EARLY 1 TO SECURE BARGAINS J COME EARLY ALEXANDER BROWNE, GENERAL DRAPER (late A. Walker), 176 George Street, Dunedin.