The Feilding Star. TUESDAY, MARCH 2, 1886.

Feilding Star, Volume VII, Issue 112, 2 March 1886, Page 2

The Feilding Star. TUESDAY, MARCH 2, 1886.

Government Assurance Association

The deputation of policyholders who waited on Sir Julius Yogel in Auckland with reference to the management of the Association, elicited a certain amount of useful information, at the same time giving him an opportunity of dissipating the mass of exaggerations and unfounded statements circulating in the colony. He defended the purchase of the Danedin property and showed it had increased in value since it became the property of the Association. He j ustified the appointment of Mr Driver as he was a man better able to cope with slanders against the Association so persistently raised by canvassers of other institutions. He "implied that the Association had no officer in its employ fit for the position. He thought that the duty cf the Association was not to run after business, but business should come to it. They should have good offices and good officers who would lead people to bring business to the Association. They should have canvassers to a certain extent, but as to torturing people and leaving them no peace, he would not be a party to anything of the kind. In his opinion the contrel of the shareholders should be extended. The nominated Board did not command confidence. As to bringing pressure on his colleagues on the Board, he gave this a most absolute and explicit denial. The Board was a good one ; its weakness appeared to him as to be as to non-election. It would not answer for the Colonial Treasurer to remain chairman of the Board as he had not time to attend to it. The Government must retain control to such an amount as would protect it in respect to its guarantee, and see that the funds only be invested in certain securities. Two fifths of the whole assets of the Association should be in Government debentures. He thought the rest might be left to the control of the policyholders. He proposed on his return to Wellington to invite the policyholders to form a committee, making provision that separate districts should elect a. certain number of members, and such committee should confer with the Board and examine the business of the institution. They should also decide what alterations it was desirable should be made in the constitution of the Board. For himself he thought the Board should include members representing policyholders in all parts of the colony. To prevent the Association having the power to buy buildings was a palpable absurdity. He concluded by saying that if the actlans of the Board were thoroughly considered by a committee of shareholders, he was perfectly sure they would ng:ee with what the Board bad done. We cannot say that Sir Julius Yogel h<oa cleared away altogether the many objections raised in different parts of the colon}', and we think his rons »i.b for the Driver appointment are particularly lame. However, wo will refrain from further comment until our Auckland exchanges give us the speech in ejittiuto.