UNION FIRE AND MARINE INSURANCE COMPANY.

Auckland Star, Volume VIII, Issue 2296, 14 July 1877, Page 2

UNION FIRE AND MARINE INSURANCE COMPANY.

Til'--prospectus of the Union. Fire -Kadi Marine Insurance Compvmy appears in smother column; It is started, under influential auspice. r the provisional directory iift_luding the names of represEntatives of thefeading mercantile and shipping firms of Ch__stcliurch, and the GeneraJ "Manager of the New Zealand1 Trust and Loan Company. The capital of the Company will be two millions sterling, in a hundred-thousand twenty-pound shares, of which; we learn by telegraph, fifty thousand shares have already been applied for in Christchurch alone. The provisional directors have adopted a wise course in arranging for the allotment of shares: As it is anticipated that the subscription will considerably exceod the total issue, Messrs Chambers (E. Porter and C 0.,) D. B. Cruckshank, B. Tonks, and J. Y. Stevenson, (A. Clark and Sons,) have been chosen to supervise the allotment in Auckland. It is proposed to call up £1 a share capital, 2s. 6d. being made payable upon application ; 2s. Gd. on allotment, and six other calls of 2s. 6'd each, at intervals of four months. The payment of the 20s. will thus be extended over two years, and it is not probable that further calls will be required. The reception which the new institution has already received in Christchurch and Dunedin is sufficient to secure its successful floating. The share list will not, however, close till the loth of August, in order that a large proprietary may be secured in all parts of New Zealand. Mr Alexander Saunders has been appointed Auckland broker, and will supply forms of application and any further information that may be desired.