FARMERS' MUTUAL INSURANCE

Wairarapa Age, Volume XXXII, Issue 10646, 30 May 1912, Page 5

FARMERS' MUTUAL INSURANCE

(By Telegraph—Press Association.) . PAIiIERSTONF., Last Night. The annual meeting of the Wellington .Farmers' Union Mutual Life Insurance Association was held this morning, Captain Hewitt (chairman' of •Directors) presiding. The report showed that-thejnew business effected during ,the year.; amounted to £46,226., and the totial insurances now . .held amount to £185,987, of .-.which £15,491 was re-rnsured. There are 574 policy* holders. /Several - 'biitter. and : cheese factory risk® are included in the new business. .Claims amounting to £403 were .flaid during the year in losses. The lasses paid in the laist six years amount .to ~£lll6 only. The Directors decided to accept grain .risks, hut the difficulty of inspection had to be consideredl. For .the .purpose of investing [t the funds it had Ibeen decided to advance .small .sums to farmers on approved security. The report and were adopted., afteavthe chairman had congratulated nxemlbers on the satisfactory state of the finan- . ces> The Directors resolved that the rates on ifirst-class risks foam 9June Ist he reduced from 8s 6d to Ss. The following were elected Directors for the year: - Captain Hewitt, and Messrs J. G. Wilson, W. J. Birch, J. Badsillie, Alex. Howie, E. Law, H. Booth, J. Morrison and H...VA. Nevr ina. .