Article image
Article image
Article image
Article image
This article displays in one automatically-generated column. View the full page to see article in its original form.

UNION INSURANCE COMPANY.

—♦ Christchurch, July 6. The annual meeting of the Union Insurance Company was held to-day, the Directors’ report showing a profit balance of L 18,058 for the year, and recommending a dividend of ten per cent., absorbing L 7,500, and that L 5,000 be placed tc the reserve fund, and the balance carried forward. The report was unanimously adopted. Messrs. Joseph Palmer and Peter Cunningham were re-elected Directors. The Chairman of the Directors stated that as a matter of economy it had been decided to discontinue having a manager at Wellington, and only to have an agent there. They did not intend to ask the shareholders, as had been suggested, for power to declare interim dividends. Mr. Cowlishaw thought the policy of the directors had been rather too conservative, as the profits were not so large as they should be from the business done. J2e insurances appearing to have been too heavy, the meeting endorsed the action of the directors.

This article text was automatically generated and may include errors. View the full page to see article in its original form.
Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/AG18800708.2.9

Bibliographic details

UNION INSURANCE COMPANY., Ashburton Guardian, Volume 1, Issue 123, 8 July 1880

Word Count
162

UNION INSURANCE COMPANY. Ashburton Guardian, Volume 1, Issue 123, 8 July 1880

Working