N.Z. INSURANCE COMPANY.

Auckland Star, Volume XXX, Issue 6, 9 January 1899, Page 2

N.Z. INSURANCE COMPANY.

The following is the sixtieth report and balance-sheet of the above company, to be presented at the general meeting of shareholders to be held on Wednesday next, Uth inst.:— The Directors beg to submit to the shareholders the accounts of the company as at the 30th November, 1!>BS. £ sd Ihe fire and marine premiums, after deducting returns and re-insurances,amount to £311,----340 15/4, being an excess on the previous year of 27,710 15 5 Owing, however, to widespread and exceptionally numerous losses, the debit on'the year's transactions,after making full provision for all ascertained and estimated losses to 30th November, amounts to 15,541 1 3 | From which deduct balance brought forward from last year 2,733 19..2 £12,807 2 1 Add interim dividend paid in July last 10,000 0 0 £22.807 2 1 Under these exceptional circumstances, your Directors decided to transfer from Reserve Fund—set apart, among other objects, for equalisation of dividends—the sum of £35 - 000, leaving an available balance of 12,192 17 11 From which your Directors recommend the payment of a dividend for the second half of the past year of 2/ per share.. 10,000 0 0 Balance carried forward to New Account 2,192 17 11 £12.192 17 11 Messrs A. H. Nathan and J. L. Wil son retire from the Board, as provided for by the Articles of Association, and are eligible for re-election.Messrs H. Giltillan, junr., and W. K. Holmes again offer their services as auditors. For the Board of Directors, 0 j. logan campbell; Chairman. STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 30th NOVEMBER, IS9S. PROFIT AND LOSS. Dr. £ 'sd. ' £ sd To dividend for the half-year ended 30th Nov., 1897....10,000 0 0 Dividend for the half-year ended 31st May, 1898.... 10,000 0 0 20,000 0 0 Commissions, salaries, and other expenses 76,035 3 3 Government taxes and payments to tire and marine associations 6,164 15 9 Fire and marine losses and appropriation for unpaid losses 261,93116 1 Balance 12,192 17 11 £376,324 13 0 Cr. £ s d By balance at 30th Nov., 1597.. 12,733 19 2 Fire and marine premiums, less returns and re-insur-ances 311,340 15 4 Interest and rents 1V,249 18 6 Transfer from Reserve Fund ..35,000 0 0 £376,324 13 0 BALANCE SHEET. Dr. £ s d £ s d To capital 200,000 0 0 Reserve Fund 90,000 0 0 Reinsurance Fund.. 110,000 0 0 200,000 0 0 Investment Fluctuation AccountAmount last year....1,986 IS 6 Add profit on realisation of sundry investments during current year 1,278 16 11 3,265 15 5 Appropriation for unpaid loss^ es 57 §8^ 0 0 Sundry creditors 25^633 8 7 Balance 12,192 17 11 £498,974 "l 11 Cr. By investments— • Mortgages and shares 72.60S 6 1 Company's freehold office premises and other properties..23o,2os 15 0 United States bonds 11,090 0 0 Cape of Good Hope Government securities 10,047 10 6 Transvaal Government bonds 5,725 15 6 Argentine Government securities.. 24,500 0 0 Debentures 11,365 11 6 Loans at call, short periods, and fixed bank deposits 25,549 1 7 391,092 0 2 Auckland city leasehold 57,818 8 0 Less sinking fund already accrued .... 28,759 3 3 29,059 4 9 £420,151 4 11 Accrued interest and rents.... 2,482 10 7 Branch and agency balances.. 53,088 13 S Cash in banks and in hand, at head office and branches 23,25112 9 £498,. 974 1 11 We have examined the books and accounts of the company for the year ended 30th November, IS9S, and have to report that the balance-sheet now presented to the shareholders is a full and fair balance sheet, and exhibits a true and correct view of the state of the company's H. GILFILLAN. jun., F.1.A., N.Z., W. R. HOLMES, F.1.A., N.Z., Auditors. Auckland, January 7, 1899.

Quality of Turnips in Relation to ' Feeding Value.—Some experiments in cattle feeding carried out by Dr. A. P. Aitken for the Highland and Agri- ' cultural Society have lately been reported upon in the Society's journal, and in conclusion Dr. Aitken says the ' results of the two years' experiments ' have brought into prominence the ' supreme importance of the quality of the turnips grown upon the farm as a determinant of the feeding progress of the stock. The quantity eaten in 1897 was greater than in 1896, but, on the other hand, there was a consider- j able diminution in the quantity of by ! fodders. On both occasions the quan- j tities of by fodders eaten was as much as the cattle could conveniently consume along with the turnip supply, but, owing to the superior quality of the turnips, the actual amount of the true food derived from that source was practically double in the latter year, and it is to that circumstance we must ascribe their greatly enhanced progress. Colour of the Skin in Shropshires.— On this subject a writer says: — A delicate cherry-tinted skin is one of the distinguishing characteristics of the true Shropshire, 'and sheep whose pelts display any material variation from it are rightly regarded with suspicion. Spotted or particoloured skins almost invariably betray the influence of a cross with other breeds, j and this is why the best breeders are always so particular about the colour of the skins of all sires used by them. A cross with the Oxford Down, which is sometimes resorted to with the object of imparting substance to Shropshires, is almost always productive of the blotchy skin. Cretonnes.-^Single width, 2/6, 2/9, 2/11 dozen; reversible, with a border, 6Jd; double width, 9|d, 10|d. These goods are less than half-price.—Court Bros.—(Ad.) t