JOINING FORCES.

Dominion, Volume 3, Issue 916, 8 September 1910, Page 7

JOINING FORCES.

v-'y ■■■;-■.-. ■;■•■ ■:.:- s Yjyy l -:..•■:.;■■'■■: :; : combine. «- : '.■,.';■'- ,; :< ; fwOfOfVthe /most -powerful insurance. •.presen.t\''carrying'':on'_bTisi-. !..; : -Yi;-iies.^in':-NewV: J Zealaiid-r-tlie-' : --Coinmercial •■ . ;'.Union Askance: Company,, Ltd.,/and the ; Yγ,OoeanVAccident ; and; Guarantee Corpora'i ':"',: tion; ■ Ltd.—haye practically completed ■ ar: i/Y :-■ rangeiuents for ,their ;•";• f■■■;.• forces. ■ 'Some hint-: of: this ■ has .already; y;'±X reached 'the ear. of ;tlio- public/.but a re- .:■,;■ presentative, of The'-Dominion gathered !. Y}fuller, particulars,of 'the , : combine during ; ' : ;f ..the/cpurse of a conversation with Mr. C. M. : i" : \ : i,/ y 'A'ccident.ind-GuaTaiitee Corporation; , . who !■;■ -returned byithe.'Moeraki-yesterday from 'a. | : Corporatipii's shares, ,■<•.■;-■;whichYwere • j and/swhich V r , --; pays .a; diviajeml -'of ■ .25., per ■' cent, ; has iu- !:',;■■ vested funUinotalling ; ; 2J .millions ,and ..the p Y:, reputation -in.the , "financial..and"insurance i. >-ivorld of, being, a. progressive concern. Tho :; :: Y-company; was . approached -'some 'time- ago, ! - :■■ through; its. 'directors, by.-, the Cpmmercial :■• . : .;'-. tJniqn• Assurance .Company,-. Ltd.',' with' aiu 1 ,:•: offer: ; .tp,>purchase;.its;shares.:at; ~£l2, tho < ; - ; -.V-''itwa. companies, .to' r 'retain- ; their', respective Jγ '.identities,:- , and'carry ".b'n , .--'a-s : .:before , with their "respective stafFs v .:Y;/\l;::.-;/ : :;v. ' t Ty.: ;>The.-basis of .the ■ cbmbihationi " which ;-' : / "'will "placeVtho .two. concerns'.jippn : .a very ,t;i i powerful. and influential-footing, has "been i-\ ■':-■ provisionally : agreed ;td,- and only 'awaits V>:.:. the -usual -. formalities -before being-^: finally V::y ;;;,:i- ; ;':., :Y .»:";• o:'^.ir'-Y". : ■■■'■■!';'■ . J,: -:.The Ocean Accidontand , .'Guarantee Cor-: J^.'.'?■ formerly-concerned , -itself. ;. ':.'[: Solely;, ; with , ' accident,:': business;' has : since i:.- : ; addedvfire;-.iiisvirance;/ljusiuess to.- : its ac>Sf; tivities,' f arid.:' will - '.' v; business.; ;The-re'sources : of .the'new com-' :■■•■■;■-;. bihation,, roughly? put, ,: inll:'-tbtal ,; -"6i[(me. ;,':'■:: thing^^:.hke.ien4mUliohs.; >f. ■/-■ : ■•'<:-, ;, •'