N.Z. INSURANCE COMPANY.
ANNUAL REPORT AND BALANCE-SHEET-The annual general meeting of ' holders in the New Zealand Insurant Company will be held on Wednesday next, February 14th, when t&e follofi ing report and balance-sheet will be pir, sented:— ?£ .The directors have pleasure in pi£ senting to the shareholders the '$ counts of the company, as at the 3(wj November, 1905. ! The Fire and Marine Premiums, aft** deducting returns «nd re-insuran<3J*> amount to £425,990 12/9, being an ifjfr cess upon the previous year of £s,<St& 18/.
The profit on the year's transactions, after mak- 0 ing full provision -for all ascertained losses to 30th November amounts to £67,992 4 0 The balance brought forward from 1904, after payment of dividend in February, 1905, is 78 £94511 11 9 Deduct interim? dividend paid in August last.. 15,000 M Leaving an available balance at profit and loss account on 30th November, 1905, of ..£79,511 11? 8 From which your directors recommend the following mentioned appropriations— Reserve fund 25,000 iO 0 Reinsurance fund .. 10.000 ;0 0 Payment .of a dividend at the rate of 3/ per sliare 15 4 000 P 0 Balance carried forward to new account .. .29,511 iU 8
£79,51111 8 The -vacancy on the Board caused by the death of Mr Arthur H. Nath»n was filled Iby the appointment of Mr Charles Rhodes. The directors have Messrs E. C. Carr and C. V. ILonghton to seats at the Board. The Hon. S. Thome George and Messrs L. J. Bagnail and Charles Rhodes retire from the Board, as provided for by the Articles of Association, but are eligible and offer themselves for re-election. !ilessrs ■H. Gilfillan, junr., and K. E. Isaacs again offer their services as auditors. —-for the Board of Directors, S. , THORNE GEORGE, Chairman. STATEMENT OF ACCOTTNTS FOB THE TEAR ENDED 30th NOVEMBER; ilflOS. PROFIT .AND LOSS. £ 6. .d. £ 13. d. Dr. To Dividend for the Half-year ended 3Otli No vc m. ber, 1904 ISiOOO 0 0 To Dividend for the Halfyc a r ended 31st 1&1J719O5 15,000 t> O To .Commissions, Salaries, and other Expenses lOO.Oe T 2 To Government Taxes anfi Payments to Fire and : Marine Associations 11,810 Iα 0 To Fire and Marine liosses and Appropriations for Unpaid Losses •...--..--..... To Transfer to jteserve Fund 25,000 0 0 To Transfer to Reinsurance.: % v Fund 10,©M 0 0 To Balance ..... «.».».. 44,-511.11 8 £494,886 6 5 Cf - .£ f * .d. By Balance at 3Cth November, 1904 «,5» 7 8 By Fire and Marine Premiums. Less Returns and Beinsurances 425.990 12 B By Interest and Rents 27,316 6 0 £494,885 6 o' BALANCE-SHEET. £ Dr. To Subscribed capital— £ b. a. -100,000 Bbares, £10 each. .1,000,000 O 0 Lees uncalled capital— 100,000 shares, £8 each.:... 800,000 tiO 0 \ 200,000 X) 0 To reserve fnnd v . 225,000 0 0 To re-insurance fund i 1*5,000 CO <0 To investment fluctuation account— \ Amount last year .....v 8112 5 Add profit on realisation \ of sundry investments ' 1382 7 4 To appropriation for unpaid l_ losses 65,433 .0 0 To sundry creditors and un- \ earned premiums ... 11,40510 4 To balance -..— .... „..,„.„.. 8 1 ~9 Cr. 1 . By inveetmente^- £ %. g. Mortgages and aharee...... 68,156 14 9 Company's freehold office \ premises and other pro- \ perties .228;619 2 l British Consols ..53,240 0 o City of Portland 5 per cent. Water Loan Bonds.. 11,713, 8 ;0 United States 3 per cent. Bonds 42,000 0 X) Argentine Government -4 per cent. Gold Bonds.. 28,336 18 7 Cape of Good Hope 3J per cent. Inscribed Stock.. 9;650 J 0; Natal Colony Security Bank Fixed Deposit 5 per cent 10,000 0 0; Dominion of Canada 3 per ', cent. Sterling Bonds... 9,650 10 Japanese Government 6 per cent. Sterling Bonds... 10,156'A3 0 New Zealand Government 4 per cent. Debentures.. 65,000 0 01 Western Australian Government 4 per cent. Debentures 10,000 0 0 Auckland Harbour Board , 4 per cent "Debentures.. 10,000 0 0 Auckland City Council , 4£ per cent. Debentures 5 000 0 0 Auckland Gas. Co. 51 .per cent. Debentures 5,000 0 0 Christchurch Gas Co. 5 per ■ cent Debentures 400 0 0 Christchurch Traiwtray Board 4J per Cent. "Debentures 25.000 a ft Feilding Borough 4J per . ° ° oent Debentures 900 O A New Plymouth Borongh ft*v 4i r w c^ nt Dfebeaitures 2,000 0 0 Other Debentures 454 c r Fixed Deposite «,6M 10 0 By accrued interest and rents 6346 0 8 By branch and agency balances 53 7SB 19 7 By remittances in transltu.V BJ6B 5 G By cash in banks and in hand at Head Office and branches 70,580 10 1 £782,884 1 9 H. GILFILLAN, Jun., F.I.A. NZ. R, E. ISAACS, A.S.A.A.. Eng." Auditors. Special statement of accounts of the New Zealand Insurance Company, wllh which is incorporated the New Zeeland DecimSer! ll^:- 6 C ° mPany * at <** Subscribed capital £1250 Oftn Paid-up capital 250000 Reserve and re-Insurance JM,mo fnnds 425.000 PROFIT AND LOSS Dr. ,^ To Transfer to Be-ineurtoee £ *" Cr ' £e2,~20ei7U By Balance *t 30tti Korember, * S " 1905 "44,51115 8 By Balence ehowing on marchase N.Z. Acetdeflt ianranoe Oβ. .., J lj.eas S 3
BAE^NCE-SHEET. IT- | ' ■■•; ' To Subscribed Caplt_____ 125 «vi £ •' ' ** * i Shares, -.10 j_*__~ if %2?? I 000, less uncalled . Caoitki. 125,000. Shares, £s ££jV £LOOO.00O --•:•>....'...' ->--o rtfift n «_ : To Reserve FniJj •■..■..; ;"" 0 0, To Re-insurance Fund... n « To Investment ';■,Fluctuation ■ Account ..--.-.,,;........... i i 7S < n a ToAppropriatK-tt'idr rjnpiid ?? - * W tosses •••-•■*•'•-..:,.... 77 _<__ i*i n To Sundry Creditors. and Unearned Premlnsbs, i viz ■ Purchase money New Zealand Accident Insur- • Unearned' P-emi_ms"*knd U5 ' 000 ° ° Sundry Creditors ... 60 123 n 3 To Balance • •■•mW 471206 17 11 £985,300 8 IX Cr. ' £ s d By _nvest_-esj,t_*—. .... " Mortgages f*S Shares.... 75,645 3 6 Company s Freehold Office Premises and other Properties --••;•.-..:..... 241,324 S 5 Government Seeunties aiid Debentures as per list attached on page -4...... 450,264 4 1 Fixed Deposits .;. 52968 10 0 I By Accrued Interest and Rents 8,971 15 "7 By Branch and Agency Balances - — '■>•• 53,703 1ft 7 By Remittances in transitu.. 8,768 0 6 By Cash in Batiks and in Hand at Head Office and Branches •...; 84,564 2 3 £985,300 S 11 H. GILFII-I-AN, Jun... F.I.A., N.Z.It. E. IS3A.CS, A.S.A.A, Eng Auditors
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Bibliographic details
Auckland Star, Volume XXXVII, Issue 34, 8 February 1906, Page 5
Word Count
1,014N.Z. INSURANCE COMPANY. Auckland Star, Volume XXXVII, Issue 34, 8 February 1906, Page 5
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