COMPANY MEETINGS.

Auckland Star, Volume XLI, Issue 272, 16 November 1910, Page 7

COMPANY MEETINGS.

NATKXXAL rNStTEANCB COMPAOT. SATISFACTORY XEAB'S WORK. (By Telegraph.—Press Association.) t«HCE£>rN, Tuesday. ffihe annual meeting ol shareholders in tne National Insurance Company was held today. Mr. J. M. iUtckie of directors) presided. 3Mie balance-sheet shoved the net reveaaue for the year to be 8/3. After paying an interim dividend of £7500, a. surplus of 0/11 woe left, wnicn, wiien the balance of last year waa added, gave £58,897 14/11 The directors j reported having added to the reserve fundi £20,000, and recommended Che payment of a ] further dividend of 1/ a share, which will absorb £10,000. The total dividend for the year was ty9 per share. T*he Chairman, In moving the adoption of the report and balance-sheet, said he was glad to say that they had a satisfactory j balance-sheet to bring before tWe share-1 holders. They had had an increase of £7500 j In the net premium Income, and he hoped that it mig&t be tie beginning of a con-1 etant end material iircrease. The loss ratio. stood at the exceedingly favourable figure of just under 48 per cent. The average for the- past five years was under 50 per cent, which, fedrly entitled them to take these results out of the| category of Luck and chance and attribute i them to the careful underwriting of the manager and staff, to whom it was proposed to give a bonus, wnich. would come into the account of next year. The percentage of charges had been slightly reduced, and the net underwriters' profit had been improved by 3 per cent, and now stood at 1* per cent. The Investments iiad increased by nearly £29,000, and, although the percentage of Interest was rather less (£4 14/6 per cent instead of £4 6AI), the total Interest and rent came to £18,257, instead of £17,380 last year. The reserve had also not been forgotten. Messrs. R.. Glendteing and T. W. Eempfhorne were re-elected directors and Messns. T. S. Graham and E. K. Smith reejipoiwtal auditors. COIiONZAL MUTUAL INSUBANCB COMPANY. CEy Cable.—Press Association.—-Copyright.) MELBOURNE, November 15. An extraordinary meeting of the Colonial Mutual Fire Insurance Company bos been convened for the 16th Inst, to consider a •proposal to reconstruct with a view to broadening the sphere of operations and increasing the capital -to £300,000 in £1