Page 18 Advertisements Column 2

New Zealand Tablet, Volume X, Issue 496, 13 October 1882, Page 18

cies on whose risk there shall have been no loss, and the remaining moiety at the disposal of the shareholder. 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 aB 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 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, and these are principles which cannot fail to ensure a marked success, especially as the Fire Bttmiess will be confined to the Colony of New Zealand, and therefore under the immediate control of the Directors. LIFE DEPARTMENT. A The want of a local Life Assurance Company has long been felfc 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 Society of Melbourne may be quoted, which, during the first year, issued 457 policies, and at the end of the eighth year bad 4313 policies, with an annual income of £164,450. . . Although power will be taken in the Articles 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 D6CQ S6CUI*G<I The following reasons may be adduced from among many which might he 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 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. SUBSCRIPTIONS TO "TABLET." Received by Post : £ s. d. Mr A. D., Dunsandle up to Aug. 8, 1882 — 066 „ J. R., Cromwell „ July 24, * £ X Rev. Father L., Milton „ 0an.17,1883 ... 15 0 Mr G.O'M., Castle Hill „ Aug. 1, 1882 ... U 6 „ J. 08., Gladfield, on account ... 4 O 0 „G. McC, Invercargill up to July 8, 1883 ...0 0 , W. D., Pukerau „ Dec. 24, 1882 ... „ E. G., Halket Town „ Dec. 15 1 ,5 ? IP. 08., Nelson „ Feb. 24, „ ... FlO 4 „J. F., Kaiwara Gorge „ Sept. 10, „ ... Ij> J> „P. H., Addisoa's Flat „ Sept. 24, „ .. 15 0 „J. C, Arrowtown „ Oct. 24, „ ... 117 b P. L. Notown „ March 10, 1883... 1 5 0 J. T., „ „ Jan. 19. .» - 1 £ J G. McS. G., Temuka „ Nov. 15, 1882 ... 1 5 0 M. McC, „ „ June 24, „ ... 1 5 0 J. McC, Balclutha „ Aug. 3, 1883 ... l^O ; P. C, 6'Kane's Bay „ June 17, 1882 ... 0 19 0 M. M., Arrow River „ May 20, 1883 ... 1 5 0 ; W. B. Cromwell „ Sept. 24, 1882 ... 18 0 P.B.,Reefton „ Feb. 17, 1884 ... 116 0 . P. H. McS., Winchester „ July 24, 1882 ... I^o „H. C, Springfield „ July I, „ - J " 5 „S. and C, Timaru „ Sept. 29, „ ... 0 4 „M. D., Bangiora „ Aug. 8 } na „J. C, Pleasant Point „ June 17, „ ... 1 & » , J. S., Boatman's „ Oct. 3, 0 12 6 „J. L., Serpentine „ Oct. 3, „ ... 1 « JJ „ E. F., Dunback, on account ... ••• l v v TTT ANTED— Certificated TEACHER for St. Patrick's School, Arrow. Apply immediately, inclosing testimonials, to REV. FATHER MACK AY, Arrow.