NATIONAL INSURANCE COMPANY.
(BY TELEGRAPH.—rRESS ASSOCIATION.)
DrxEPix, Wednesday. At the half yearly meeting of the National Insurance Company, held to-day, the following report was submit ted:—Tho directors submit their report and balance-sheet fo r
the fourteenth year of the Company's operations.. The net premium for the year amounts to £161,009 Is lCd. After making the usual provision for unearned premiums there is a surplus of £16,333 10s 2d. to which has to be added the balance from 1886, £4,326 9s 1id—£20,660 0s Id. Out of this the directors declared an interim dividend in March last, which absorbed £4,902 17s 6d. They now recommend the payment of a further dividend at the rate of 10 per cent, per annum for the half-year, £4,902 17s 6d, and to carry forward £10,854 5s 1d—£20,660 0s Id. The fullest provision has boen made for all known and unadjusted losses in the item of £23,158. The report and balance-sheet were adopted. Messrs Burt, Larnach. and Wilson were reelected directors. The proposal to open a share register in London provoked some little discussion, but the motion was eventually carried, and another meeting will be held to confirm it.
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Bibliographic details
Auckland Star, Volume XVIII, Issue 271, 17 November 1887, Page 5
Word Count
192NATIONAL INSURANCE COMPANY. Auckland Star, Volume XVIII, Issue 271, 17 November 1887, Page 5
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