MEETINGS.

Auckland Star, Volume XIX, Issue 23, 28 January 1888, Page 6

MEETINGS.

N.Z, JNSU;RAN,CE CQMPAKY,

The annual meeting of the shareholders of the Newr-Zealand insurance Company tqpk! plo.os on, vfani 11 in thelfea^ U|a(»i'Qu§en street — Mr J. M. Clark (in the absence of . Hon. Jas. Williams on) presiding. About 25 sha^eholdprs; were present, The; General Manager (Jjr & P. Pierce) read the following report and balance-sheet; "The directors "have much pleasure 19 submitting to the shareholders the Profit and "Loss Account and balancetsheet for t^e year ending 30th }Bs7. The net premiums, less re-iusurance, amount to £•222,583 16s 6d, showing an increase of £5,240"1952 d over last year. After settlem,ojit pf all claims— iivhipfo hav§ l^eß very numerous—making due provision for all known losses, carrying £8,000 to Investment Fluctuation Accqunt, and paying an iateriaa dividecd p! 3s per share in July

last, there remains a balance of £19,145 19s 3d, from which your directors propose to pay a dividend of 3s per share, which >vill absor'h £15,000, leaving £4,145.19s 3d to be carried forward tfl next year. War ran ts for the dividends will be issued at the Head Office of the Company tomorrow, and at branches and agencies on receipt of advice." Messrs Russel} and Campbell are the retiring directors, and, being eligible, offer themselves for re-election. Messrs Fraser and Laurie, who vacate the office' of auditors, seek re-election. For the Board of Directors. — James Williamson, Chairman. " Profit anh liosa. Dr.' £ s,. d. To dividend for the half-year ended 30th^oyemtier, 1836 .. N.. 15,000 p 0 Dividend for the half-year elided 31st May, 1887 ~ .. .. 15,000 0 0 ConimissiQris, salaries, and other expenses 89,?3314 1 Goverhnjpnt taxqs and payments toFireandMarine.ifVesqciat,ipns 4,53^ (3 3 FiFe^anii marine losses arid appropriation for unpaid lp^stis.. 110 Investment Fluctuation Account 8,000 0 0 Bajance ■.. ... ... .„. .. 19,145 1? 3 £2^.622 3 5 Cr. £ s' d. By balance at 30th November, 1886 18,931 510 . F^rp {indniQi-ing premiunis, lqss . returns arid reinsurances .. 222,583 16 6 Interest and rents .. .. .. 23,107 1 1 £264,622 3 5 Balance-sheet. ' Dh, £ s, d, To capital.. 200,030 0 0 Reserve Fund 135,000 0 0 Reinsurance Fund 100,000 0 0 Investment Fluctuation Account 'Viz.—Amount last year, £17.179 7s 6d ; Transfer irom Profit and Loss, £8,000 : — £25,179 7sj 6d. Less writtenofffor depreciation in sundry investments, £14,709 • • 2s. ftd 10.470 5 2 Appropriation for unpaid losses 22,064 Q 0 ■ Qrl!? bilW9B :: SSBi3S £513,748 4 5 BY INVESTMENTS^. £ n S. d. Mortgages and Shares .. .. 154,977 19 1 Company % Freehold Offlco Pre- . mises and other Real testate.. 260,818 410 United States Bonds .. ..12,524 8 5 Debentures ... 11,030 11 4 Loans at (Jail, Short Periods, and Fixed Bank Deposits .. .. 28,60217 0 Accrued Interest and Rent .. 2,171 7 9 Bills Receivable .'. .. .. 291 .5 1 . Suhdry rDebtora .. .. .. 1,120 0 2 Branch and Agency Balances .. 37,946 12 7 easli in Bank andin Hand ..' 4,264 17 14 ~ r i: £513,748 4 5 i The Chairman, in moving the adoption qf the report and balan,ce:sheet, said that they Were of a character which the shareholders could adopt with pleasure. They showed a substantial profit. The net profit upon premiums for the year' amounted t6 £15,007,' which, with rent and interest, representing £23,107, made up the substantial total of £38,114. This allowed the usual dividend to be declared besides leaving available £8,000, which the directors had deemed it advisable to carry to Investment Fluctuation Account. The increase of premiums over the previous year amounted to £5,240. A - small portion was accountable to increase of rates, bub "the bulk was owing, to the expansion of the Company's business, despite keen competition. The fire and marine losses had increased by £10,000 over the previous year, the cause being the prevalence of small fires, so pbaraoteristjc of bar! times. These were indications however pf better times and nothing so surely exorcised the fire demon as good timers. The Chairman concluded by remarking that their Melbourne site had already doubled in value, and by referring tq the very favourable prospects of the Company. The motion was seconded by Major George and carried. Messrs Russell and Campbell were, re-elected director arid Messrs. Baardman and Fraser were declared duly elected as auditors. The annual meeting of the parishioners of St. Mark's Anglican Church, Remuera, wt>s held on January 25, and was well attended. The incumbent, the Rev. Isaac Richards, presided. The statement of accounts for the past year was read. It shewed, receipts froma,^ sources, including bank overdraft, to be £1,091 4s t 3d, and the total expenditure oame to the same amount. The dctbt qn. churqh building had also, been rpduced by and now stands at £150. The Chair-man read a report, showing that, in spite of the genera} depression, their 'funds were in a better state by £100 than they were a year ago, and in spite of tinadditional expenditure of-£l5O over the ordinary current; expenses. • TJiV^ nuinjber of communicants had increased. On Easter I)aj: th 6/6 >W£/^-J.fjS-an'di.on-Chrjsljma.s"Pay 182. - Elections:-Mr W. Goehran'e was nominated minister's churchwarden, and Mr C. 41e3cande,r W3£-re-elected parishioners' churchwarden. Mr F. C. Lewis was appointed auditor, ahd the following gentlemen were/appqin^ed the vpsfcry : %. fiesketh, P^ckmefq,, AJorrin, R. Baber, Lodder, Hey wood, Waters, Pirie, Harrison and'Tewsley. "'" " ' The half-yearly general meeting; of 'the Taupiyi' ijxteuded, Cxjal ;Miping. Company Was hejd on, Jamj^ry;24 at $ie Cpmpany's office, Schqrtf's Buildings, Fort-street. ' ■, Mr John Robet.;ori took the chair, . The Prpfit and Loss Account showed a net profit for tha Mi-y^M of £1,970 U 9d» which the .cHrSptpr^ Tecomm§n4 tP: appriqprja.tQ as follows :—£6oo to payri^eiht" of a dividend of Is per share, ar\d £900 to a bonus of Is 6d, the balance! of £470 la 9d to be qarr\ej4 fopwftTd *Q new aqcQunt, The next bu&iriess was the eJecUpn of two directors in the room of Mr Roborton and Captain Sewlj. .The two gentlein,en were re-elected without opposition. " " The members of the Loyal Orange Lodge Ijf.9. 1 met for their monthly meeting on January 4 in the Protestant Hall, Tfewbon. There was a fair attendance of members and visitors.' Spine routine busipgsj having beep transacted, tl)e,W f M- Bro, Riggs, in a few well-chosen words., presented on beha'f of the Lodee a handsomely framed Past "Master's certificate to Past Master Bra R. Little, who had filled the VV.M.'s chair for the last two years. Bro. Little thanked the brethren heartily for the, same. The Lodge was then raised to thq ;R,A.p. dogr.e.9, whe,n, pne brpthe.r duly received the same.

: The adjourned meeting of the, members of the Turkish Baths Company was held ab the office p.f the Company, Lome-street, on Jajiqary ljth^. T§ni shareholders were in attendance, Mr John Grant" presiding. During the year," the. bafchs were visited by 4,201 persons—gentlemen, 3,418; ladies, 769, ahel 23 children, being an increase of 1,J84 persons as shown fey atfcepdance. during I<he, year 188^, an,d is, a, larger nu,mbeithan .has, ever previously visited the baths. The receipts at the'baths, etc., amounted £500 3s, and the expenses to £540 Is Bd.