FARMERS’ UNION.

Gisborne Times, Volume XIX, Issue 1674, 15 February 1906, Page 3

FARMERS’ UNION.

A meeting of the Executive of the Farmers’ Union was held in Mr W. Lissant Clayton’s office at 11 o’clock yesterday morning. There were present : Messrs W. K. Chambers (President), Elliott, Watson, W. D. Lysnar, HoldeD, P. T. Kenway, and

W. L. Clayton Mr A. R. Watson, who attended the meeting of • the directors of the Hav. he’s Bay Farmers’ Mutual Fire

Insurance Association at the beginning of the month, reported as follows: —I was treated with the greatest courtesy, and points and questions I put before the directors elicited the fullest inform mation. The Association will, I expect, be issuing covers now. The premium notes are issued at 2 per cent, on the insurable value, of which it is 1 proposed to call up 10s the first ysar, I - o l J.-L - rroor anr? £vQ f.Tlfl f.hirfl

7a 6d the second year, ana os me muu. year. These are the same terms as those on which the Otago Association is working, and slightly belowthe or* dinary insurance companies’ rates. This is considered sound, as farm risks are generally first-class. The Association takes two-thirds of the risk, with a maximum of /1,000 on one building.

The A cfc provides what classes ot ksk may be but any farmer is eligible ,to insure, whether a unionist or not. Eigks are inspected (1) by two policy-holders, a director of the association, or (3) by an accredited agent. »n far the onlv definite arrangements

for re-insurance is with the State office, wjio vili issue a policy direct to the insurer for any amount that the Mutual do not wish to carry. They are in communication with the TaraInaki and Otago Mutuals, trying to arrange for mutual re-insurance. This, of course, is the ideal scheme. I gather that financial institutions do not regard mutual policy with much favor, but I do not know what the local feeling on this point would be. Until the maximum of £40,000 worth of cover is issued, by which a sum of £BOO would be guaranteed, the directors are arranging a guarantee fund with the 1 . i -Pann tn rnAAf. mwiire

bank for at least i>BUU to meet any mo losses that might occur at the start, i They have nine directors, all of whom but one were present at the meeting. If this district can join with Hawke s Bay and contribute a fair amount of insurance, there would be no dilhculty about getting representation on the Board, as several members have volunteered to resign to make room for our representative or representatives. I was struck by the earnest feeling that pervaded the meeting, and have no doubt in my own mind that the I - Ml /v«.Aaf o QIIPPPSa

scheme will prove as great a success in Hawke’s Bay as it undoubtedly has done in Canada. " .... Mr Lysnar suggested obtaining acturial advice as regards the Hawke s Bay figures, and also what prospects there were of a reduction after the I first three years. A reduction to 5s mns not enough, unless they could see

some prospect of a reduction to 4 9 or 3s they should not entertain the proThe Chairman and Mr Watson agreed that an actuary’s opinion should be obtained, and after discussion upon the subject, it was decided

to obtain such an opinion, lau-mg Hawke’s Bay figures as a basis, and provided that the Colonial Executive had not already done so. A fee of £lO was authorised for expenditure for an actuary’s opinion,

A hearty vote of thanks was passod to Mr Watson for attending the mooting of directors in Hawke’s Bay.. On the motion of Mr Elliott, it was decided to havo tho articlo upon Farmers and Politics, from tho Auckland Wookly Nows of February Ist printod and distributed amongst tho branclios.