AN AMALGAMATION.

Taranaki Daily News, Volume L, Issue 60, 28 August 1907, Page 3

AN AMALGAMATION.

AUSTRALIAN LDjE OFFICERS. Sydney, August 27. The Mutual Life Association of Aubalaak has issued a circular to members submitting a proposal for amalgamtion with the Citizens' Life Company under the style .Mutual Life and Citisans* Company. The amalgamation, if approved, is to take effect from January first next.

Mr Maclaurin, the chairman, ;mil Mr Remington, trip general manager, r.filii" Mutual Life Association are, it i- ;>roposed, in join the boirrt of the waijjmated company. Mr Remington wo ild •Iso be managing trustee. The oOer directors of the Mutual Life would betama trustees for the policy hnU-r-. Provision Has l>een made for the el.cUoB of trustees annually after Iftlrt. The surplus accruing on Mutual rjiV Sbsociatinn policies would at no time be subject for any deduction for share. Bolders' profits. The expense rate chargeable against Mutual Life policies Would be IS per cent on the income Mined by the premiums for lflOS, 12 1 /, per cent, for the succeeding four years. »nd 10 per cent, afterwards.

(The main advantages claimed ;■>•<•:— reduction of the evpenses of the institution, the provision of bonuses, and a lotlew of the investments by the trust«ei, who will report direct to jK>li*vkolders.

Circulars to New Zealand policy holder* will be desp itched by next mail.