FARMERS' MUTUAL INSURANCE.

Taranaki Daily News, Volume LV, Issue 292, 2 May 1913, Page 8

FARMERS' MUTUAL INSURANCE.

A SATISFACTORY YEAR. The annual meeting of the Taranaki Farmers' Mutual Fire Insurance Association was held at Eltham on Wednesday, There was a small attendance, and Mr. J. T. Quinn (chairman of directors) occupied the chair. The report showed that the premium income for the year amounted to £1349 lis sd; .being £2BO 19s fid in excess of the*-previous year. The insurance liability at the close of the year under review (after allowing for re-in-surance) amounted to £234,434, as against £214,738 at the close of the previous year. The total policies number/ 848,. irbriiiging the average to approximately £27-0, being slightly less than the previous year ( £290). No lire losses occurred during the. year. The liquid assets at the end of the financial year (after making provision for all general liabilities) amounted to £5030 Is Id, being £IO9O 8u 4d'in advance of the previous year. The premium notes in force at the close of the ' 1 year under review amounted to £11,328 Is 9(1, being an increase of £1486 8s 4d, making a total of general assets over generat liabilities of .£16,851 12s lid.] During the year the" secondclass dairy factory risks were increased j from las per cent, to 20s per cent;,- snd on third-class dairy factory risks from 20s per cent, to 23s per cent. Miv-T. Quinn, in moving .the adoption of, tJie, .T,e(><irt \ arid \ balance-sheet, - said< they had had no fire lo3s' during tlTe year; and this proved that the farmers' risks were not hazardous. In answer to Mr. Wright, the chairman stated tlmt, roughly, the losses in eight' years had been about £llOO. Mr. E. Maxwell, speaking on the reduction of premiums, said, with regard to dairy factory risks, that he could .notisee how a reduction could be made since they had to reinsure. The' following were appointed directors for the ensuing year: Messrs. J. T. Quinn, H. D. Forsytji, R. Lambie, sen., E. Maxwell, C. E.' Belcher, J. Christoffel, and J. Best! : ■Mr, Quinn was re-elected chairman.