THE FARMERS’ MUTUAL.

Stratford Evening Post, Volume XXVII, Issue 2, 1 May 1915, Page 6

THE FARMERS’ MUTUAL.

The an iiial meeting of the Taranaki Farmers’ Mutual I'.tv Fnsuranct. Association was held at ]‘,l thain yesterday afternoon, when the chairman, Mr J. T. Qu n, presided over a lair attendance of r. trovers. The annual r. port and balaiioe-shccb W ‘ic presented as lollows:- —Ihe'teU’i. annual report of your directors shows a further improvement in the financial position of the association for the year just qlosed. The net premium income for tile year amounted to £B7O 10s iOd, being £Bl 3s 3d in excess of that of the previous year. The insurance liability at the close of the year under review (after allowing for reinsurance) amounted to £233,451, as against £159,633 at the close of the previous year, being an increase of £78,818. This liability is classified as lollows; Farm and non-hazardous risks, 972 policies, amounting to £230,414 40s (making an average of approximately £237); dairy factory, 2 policies,(.£3oo (averaging £150); reinsurances, (3 policies, £2737 (averaging about £4-56). The total policies number 780, bringing the general average to approximately £299, against that of the previous year, £220. Fire losses amounting to £145 occurred during the year. The liquid assets at the end ol the financial year (after making proision for all general liabilities) amounted to £5947 7s Bd, being £393 12s 9d in advance of the previous year. The premium notes in force at the close of the year under review amounted to £12,557 11s 2d, being an increase of £4339 7s Id, making a total of general assets over general liabilities ot £18,700 Is Bd. Your directors during the year appointed Mr S. E. Corry as inspector and canvasser, hence the in* crease in management expenses. Accident business.—Under recent legislation power is now given to this association to insure its members against workers’ compensation claims. A special meeting of members will be held immediately after the close of the annual meeting to consider, and, if desirable, adopt a resolution empowering the association to carry on that class of business.

The report was adopted, oil the motion of the chairman, seconded by Mr Maxwell. After a very brief disbussfpu, it,was decided to open an accident insurance department. All the officers were re-elected, as follows:—Messrs J. T. Quin (chairman), J. Best, C. J. Belcher, J. Christoffel, H. D. Forsyth. iC Lambie and E. Maxwell; secretary and treasurer, W. J. Tristram ; auditor, Mr E. Parrott.