STANDARD INSURANCE COMPANY.

Auckland Star, Volume XXXII, Issue 54, 5 March 1901, Page 3

STANDARD INSURANCE COMPANY.

(By Telegraph.—Press Association.)

DUNEDIN, Monday

At the annual meeting of the Standard Insurance Company the report declaring a dividend of 7£ per cent., and a bonus of 2* per cent., was adopted. Mr J. Reid (chairman) in moving the adoption said they ■were in a position to place £5000 to the reserve fund, which would then stand at £25,000, the amount at which it stood before the great Melbourne fire, which obliged them to fall back upon it. This'fund being restored to its former position Ihe directors have seen their way to recommend, in addition to the halfyearly dividend of n per cent., the myment of a bonus of 2J per cent. After these appropriations the paidup capital and reserves would amount t o £115,000. and they would carry forward to credit to profit and loss, £6692 12/2, or rather over £1000 more than "last year. The year had not onenea quite so favourably as last. Considerable property in Australia and New Zealand had been destroyed L fire. The company had had its share but at the same time it was fortunate. The premium income exceeded the previous year by £4,0b nTid the ratio of return from interest is 4.11 per cent. The losses were ±•"9 829, giving a ratio of 53.77. The outlook was very encouraging*. He referred with regret to the death of Mr David Baxter, who had been identified with the company since its formation, having served 27 years as a director. Messrs J. Reid and D. Havnes were re-elected directors and a minute recording the death of Mr D Baxter was ordered to be forwarded to the bereaved widow.