Page 18 Advertisements Column 2

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

cies on whose risk there ehull 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 nse his influence to bring as much sound business to the Company as possible. A large number of shares h«s 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 BumuiM will be confined to the Colony of Ncm Zealand, and therefore under the immediate control of the Director*. LIFE DEPARTMENT. The want of a local Life Assurance Company has long been felt^ and this want has been only partially supplied by the GoyernmeaT 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 s»lely 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 had 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 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 InBurero ; 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. THE OAMARU CONVENT SCHOOL BUILDINGS. TO THE EDITOR OF NEW ZEALAND TABLET. Sib, — The Dominican nuns of Dunedin, ever actively devoted to the promotion of Christian education, are making immediate preparations for opening a branch of their Order in Oamaru. On the 7th May, the Bishop, Most Bey. Dr. Moran, laid the foundationstone of convent school buildings. The ceremony and the whole proceedings were most satisfactory and successful. The Bishop, always active and generous in the cause of education, gave his name for £100, and other kind and good friends seconded his efforts in the work he so much loves, in a way that excited the admiration of all. And it is confidently hoped that many more well-wishers will come forward with generous contributions for the works now being carried on. One of the greatest works of charity is the promotion of Christian education. It is in these days for every Catholic an open pro1 fession of faith ; for the generous and good of every class and creed it is a profession of real benevolence and admiration for those who, like the Catholics, are nobly striving to obey the dictates of conscience under many difficulties, and are persevering in their efforts to make the youth, and consequently the people, of this bountiful and beautiful land of ours, an educated, pure-minded, patriotic, and Godloving nation. Any contribution set to Archdeacon Coleman, Oamaru, the Dominican nuns, or the Most Bey. Dr. Moran, Dunedin, will be gratefully acknowledged in the Tablet. — I am, yours truly, Wm. Coleman r\ A M A R T& 1 . BCHOOL-CHURCH FUND. The Rev. Father Golden - ■ • £10 0 The Rev. Father Walter McDonald - - £10 0