SOUTH BRITISH INSURANCE COMPANY.

Auckland Star, Volume XXV, Issue 237, 4 October 1894, Page 5

SOUTH BRITISH INSURANCE COMPANY.

The following report and balance-sheet of the directors of the South British Fire and Marine Insurance Company will be pre-

sentod to shareholders at the annual meeting to be held on October lOch:—The directors have pleasure in submitting to the shareholders the statement of accounts for the year ended August 31st, 1894 :— The net revenue for the year amounts to .. .... ..-•::.. .. .. £214,990 11 9 After making the usual provision for losses outstanding, and adding 'the sum of £4.000 to thereinsurance reserve fund, there is a surplus.in the revenue account of .. ... .. .. £3?,166 13 9 To^ which has to-be added the balance from. 1893, £6,045 Is 3d; leas dividend paid in October. ■ 1833, £3,23133 .. .. .. .. £2.813 13 3; ', .■■■■•;:'■' : .< . £35,980 7 0 Which has been dealt with in the following banner :— Interim dividend paid .in April, 1894,' at rate of 10 per cent, per annum.. <. .. ..£3,231 8 0. Sinking FundAuckland Leasehold 75 0 0 Written off office furniture .. ... 387 11 0 Written off for Depreciation on sundry ■ securities :. .. 1,200 0 0 Transferred to Reserve Fund 20.000 0 0 — ««,593 19 0 £11,086 8 0 Tha Directors now recommend the payment o£ a Dividend at the rate of 15 per cent, per annum for the half year ending August 31st, 1894, which will absorb .. .. .... .. .. 4.847 2 0 Leaving:, to b6 carried to tho new account.. .. .. .. ... £6,239 6 0 ! The retiring directors are Messrs W. S. Wilson and J. H. Upton, who, being eligible offer themselves for re-election. Messrs J. F. Clarke and G. S. Kissling, the retiring auditors, ofter thomselves for re-election. By order of-the. Board of. Directors, Thos. Peacock. Chairman. Auckland, September 18th, 1894.