The Daily News, MONDAY, MAY 25, 1903. FIRE INSURANCE.

Taranaki Daily News, Volume XXXXV, Issue 122, 25 May 1903, Page 2

The Daily News, MONDAY, MAY 25, 1903. FIRE INSURANCE.

OtE of the chitf planks in tho p'a'.form of the New Zealand Fanners' Union is the question of F.ro Insurance. Although the general policy of the Union is hostile to the policy of the Lib-ral , Party, this is one of the points where |extremes meet, b:cais3 in this matter the Farmers' Union and the L'.beral Administration are bo'h feeling their way towards,the same erd, v'z , insurance on co-operative lines. A few diys ago one of our readers kinfly forwaid d us the following ixhsct froai the Sydney Bulletin, and the fac'a and figures contiiued the ein are so interesting, and contain so much food for forothought; that we reproduo it in full. Writiug in its charcOeristicstyle, our contemporary says : - " Concerning the 15 surviving Fire Insurance Urn panies c>f Australasia (there are nominally 16, but tbe 16th really belongs to an English company, though outwardl) preserving its separate local existence), •ome more or less interesting particulars are appended. Tne profits in each case represent the amouot earned for the 12 moiiths covsred by last published balance-thee 1 , after deduc ion' of i>ll bonusfs paid or payable to policyholders. In micy cases the dividends on the capital oiiginally pud up a e enormoudy larger tlun the amoun's here showD, and the accumulated rer>erve3 are 1 irger also, bu L , by the transfer of a hrge part of tin reserves to capital acc.unt both they and the dividend have been made to lojk less unpobiug:

(a) Australian Alliance Co, wrote off £l6, ( b) N.Z. Insurance Co. wrote off £13,937 («) Profits of Farmers' 00-Operatke Co. and amount ab.-orbel by tbe 6 per cent, dividend are appoximate only, tbe balancesheet being so clumsily drawn up th t it is impos-ible to separate dividen.i fr.m p/lisyholders' bonus.

Some curiou3 facts stick cu v , in this tabl-s. Thecompiny with the ]a.rg 'st reserve is the New Zealand InsurancCorn piny (Macrilacd); second Urgest [reserve, Sjuth British Company (Maorilaud); third largest National Company (Mainland), L.rgett profits are thos-3 of tho Now Zealind Company ; with the South British second ; and the National third—same three. [Lirgrst sum p>id in dividend is that piid by the New C -mpiny, | wi:h the South British again second ; | bus this time tha Victoria (Melbourne) couks third. Highest rate of diviitnd is the 27 por cent, of Victoria (Melbourne), with the South British second, and the Victoria G«nernl(Melbourne) third. (For wasting splendid busincsa opportunities in tbe crt.zj in big dividends the Melbourne crowd is generally well up on the front Eeifc). For the biggest addition made to the reserves out of this year's earnings the South British Company ( Mao ilard) is first, O.lonial Mu'ual (Melbourne) s:cond, National (Maorihnd) thirJ. Tho two smallest r.dditions to reserve? uva those of the Victoria General (Melbourne) and Australian A 1 ianoe (Melbourne). Maoriland, though it has itfss than 800,000 population, as agtinv Victoria's 1,200,000 aud N.S.W.'s 1,360,000, supports five fire insurance ofiico j , while the two large States only own four each. Queensland, S.A., and

Vestralii, with over 1,000,000 people mong them, don't posse s ore fire inurance tHi e ; jet li tie Tasmania, - 'ith far 1 si than 200,000 p?ople, pos- ] esses two prosperous institutions. But ; ha Common we-Ith ganeia'ly is very □uchb .hind in the way tf runt i'ig its , iwn fire insurance business. Protec ion, and a very st ong measure of Pi o-; ect on, too, for the local fire insaranse u<iu-t(ry, is urgeniy wanted as so>naa lie Aui rd'ai Parliam nt can attend ;j the matter." A great deal might be written regarding the abov.', but we jref r to leave our readers to dray iht'ir own conclusion*, As an ins'anc' the prosperity of New Z aland and . ;he business enterprise of the p -opto, ihe figures are certa'nly remarkable ind are woll worth the most caveful stuily and investigation.

NEW SOUTH WALES. Profits. Dividends. Added to Reserves. ReMercantile Mutual, £7,686 18A p.c.=£5,S43 £2 143 *49,845 Australian Mutual... 13,728 16J „ 8,224 5,504 111,533 United 23,102 10 „ 6,*23 16,279 106,310 North Queensland... 11,629 8 VICTORIA. 4,295 7,is34 45,564 Vicloria 23,923 27 „ 13,481 10 442 69.CS8 Victoria General ... 4,301 20 „ 4,000 301 12,280 AustrVn APian ce(«; 13X93 16 „ 12,500 1,047 96,278 Colonial Mutual ... 25,059 8 MAORILAND. 5,000 20,059 58.? 95 South firit ; sh 44,696 25 „ 16.157 28,739 274,817 » ew Zealand (7/) ... ;5,U9 13* „ 27.510 13,^82 295 167 National 32,436 12J „ 12,500 19,936 163,124 Standard' ... 11,013 10 „ 7,500 3,513 50.2H ti Farmers' Co-Op. (<) 4 539 6 TASMANIA 2,974 1,565 11,527 Dei went and Tamar 8,909 10 5,250 3,659 64,117 Alutual Fire 4,541 7 2.756 1.785 24,108