INSURANCE COMPANY.
CHAIRMAN’S 3TRONG REMARKS
[(Per Press Association.). Ghristcburoh, last nighl
The annual meeting of the Farmers’ Co-operative Insurance Company of New Zealand was held this afternoon. The report stated that the revenue for the year was £13,793 0s lOd, and the expenditure £6618 16s 6d, leaving a balance of £7174 4s 4d. After appropriating £ISOO to reinsure current risks and writing off £8 19s from the freehold property acoount a balanoe of £5665 6s 4d is availabja for distribution, 6 per cent dividend is recommended; and the transfer of £IOOO to the reserve fund. The Chairman -said the company proposed to add accident assurance to the other business. Before the Government took up accident insurance the rates were 6s per cent for farm hands and 80s per cent for bushfellers. Now the Government, with the other companies, bad raised the rates from 13s to 20s per cent for farm hands and 10s 6d per cent for bushfellers. He considered the Fire Brigades Bill one of the most unjustifiable and wanton attempts to rob the insurance companies that had ever been attempted.
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Bibliographic details
Gisborne Times, Volume XIX, Issue 1541, 24 August 1905, Page 2
Word Count
182INSURANCE COMPANY. Gisborne Times, Volume XIX, Issue 1541, 24 August 1905, Page 2
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