Page 18 Advertisements Column 1

New Zealand Tablet, Volume X, Issue 497, 20 October 1882, Page 18

PBOSPECTUS . . . OF rpHE EQUITABLE INSURANCE ASSOCIATION A OF NEW ZEALAND, FOB FIRE, MARINE, LIFE, AND FIDELITY GUABANTEE INSURANCE. Head Office Dunedin. Temporary Offices : Albert Buildings, 148 Princes street (opposite Post Office). Capital £1,000,000 . In 500,000 Shares of £2 each. First issue, 200,000 Shares, in respect of which there shall be payable 6d on application, and 6d on allotment, and two calls of 6d each, payable at intervals of three and six months after allotment ; beyond which is not intended to make any further calls, but if any call be reqnired it shall not exceed 6d at one time, and three months' notice shall be given. Provisional Directors (With power to add to their number) : DUNEDIN : Messrs. JOHN BATHGATE, M.H.B. E. B. CARGILL GEOBGE ESTHER, of Esther and Low JAMES GOBE, Mayor WILLIAM GRBGG, of W. Gregg and Co. D. GRANT, of Granton JAM KB HAZLETT, of Mackerras and Hazlett JAMES HOGG, of Hogg-, Howison, Nicol, and Co. ALLAN HOLMES FKANCIB MEENAN C. S. BEEVEB JAMKS BOBIN, of J. Bobin and Co. A. SCOULLAR, of North and Scoullar JAMES SEATON, M.H.B. JOB WAIN, Jun. JAMES WILKIB, of J. Wilkie and Co. T. M. WILKINSON, of Wilkinson and Pettit. JAMES WILSON, of J. Wilson and Co. J. MAITLAND JONES, of Proctors, Jones and Co. J. PATTERSON, of Patterson and M'Leod J. SPEIGHT, of J. Speight and Co. INVERCABGILL : Messrs. W. BULLIED, of Price abd Bullied A. BLACK, of Bodeers and Co. F. FLEMING, of Fleming and Gilkson P. L. GILKSON. of Fleming and Gilkson JOSEPH HATCH J. KINGSLAND, of Kingsland and Bons A. MAIB W. S. MOIR, of Moir, Johnston, aDd Co. W. J. MOFFETT H. E. OSBORNE W. PAISLEY J. G. PRICE, of Price and Bullied W. PJNKIERT, of Pinkiert and Newman W. SLOAN, of Sloan and Sons W. WILSON, of Cowper and Wilson. OAMABU : Messrs. J. ALLAN J. CBAIG, of J. Craig and Co. G. DALGLEISH, of M'Callum and Co. S. GIBBS A. J. 8. HEADLAND J. HOOD, of Hood and Shennan T. MEEK, of J. and T. Meek W. H. S. PtOBERTS Other names will be added in a day or two. Who shall hold office for not longer than one month after allotment of the shares, when a meeting of Shareholders will be convened for the election of Directors for the fir6t year. Names of Provisional Directors in other centres will be added in future advertisements. Bankers : The Colonial Bank of New Zealand. Solicitors : Messrs. Bathgate and Meeson. Brokers -. Messrs. W. P. Street and Co., Liverpool Street. Interim Secretary : W. C. Kirkcaldy. FIRE AND MABINE DEPARTMENT. There exists among Insurers in this colony a feeling of dissatisfaction with the present system of Fire Insurance. Bate^* re 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 receive a share of the profits by the issue of bonus policies. Every Insurer may thus obtain a direct interest in 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 they share in the profits earned. The profits will be applied in the first instance to the payment of interest to the shareholders at the rate of 10 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 foimation of a Bonus Fund for distribution among the owners of bonus poli-