THE NEW FIRE BOARDS.

Rangitikei Advocate and Manawatu Argus, Volume XXII, Issue 8946, 11 October 1907, Page 2

THE NEW FIRE BOARDS.

Per Press Association. Auckland, October 10. At the annual mooting of the South British Insurance Company, the chairman said that the year bad opened satisfactorily, but during tho second half bad cycles ’ throughout Australasia had affected tho results. While tiro and marine business went so indifferently, the accident department justified its creation. The experience of tbo leading fire insurance companies of tbo world for the past twelve mouths tended to show how important alike to public and shareholders it was that reserved funds should bo largo enough to meet any emergency. It would be the policy of the directors to augment tho reserve on every possible occasion. He regretted that fire business iu Now Zealand was still in an unsatisfactory condition, it being quite insufficient to cover losses and expenses while leaving no margin for conflagrations. The

contributions imposed on the companies for upkeep of Niro Brigades would cost them something like ten percent on their revenue in Fire Board districts. In tho Auckland Fire District tbo companies’ contributions would amount to S-l per cent on the revenue, a most oppressive charge. Ho expressed tho hope that it would be possible to sccuio such improvement in fire rates as would give companies not only some margin over their losses and expenses, but a reasonable provision for conflagration contingencies. Tho meeting adopted resolutions converting tho company into one of limited liability.