N.Z. INSURANCE.

Auckland Star, Volume LI, Issue 37, 12 February 1920, Page 10

N.Z. INSURANCE.

EVERT REASON TO BE SATISFIED. AX TTNVTUST MEASURE. The anneal meeting at the New Zealand Insurance Company wai continued after the "Star" went to press yesterday afternoon.

Speaking to the motion for the adfcption of the report by the chairman of directors fMr. H. Horton), Mr. J. W. Stewart congratulated the 'board and shareholders upon the excellent position disclosed by' the annual report and balance sheet. The income for the past year had been less than that for the previous year, but as againet that the expenses had been leas. In view of the fact, however, that the previous year had bean a record one, owing largely to war risks, they had every reason to be satisfied with the results. A matter to which attention should be directed wee the measure in force in the Labour State, of Queensland, under whioh any member of the company here, although he owned no property in Queensland, was practically liable to death duty in this State. He believed a echeme could lie devised to overcome this legislation.

In reply, the chairman said thie matter had not escaped the attention of the director?, who believsd the measure to be a very unjust one, but no more unjust than a number of other measures passed t>y the Queensland Government. The latter at one etroke of the pen had practically taken away the whole of the employere' indemnity business.

The motion to adopc the report and balance sheet was adopted.

On the motion of Mr. T. Grainger, the Hon. A. 31. Myers, Messrs. Robt. C. Carr, and Chae. V. Hcrughton were reelected to the directorate.

In returning thanks, Mr. Myere emphasised the fact that a large percentage of the company's surplus had been derived from other lands.

Messrs. J. F. Buddie and Ht Gilfillan were re-elected auditors at an increased remuneration. .

Votes of thanks were carrier} to the directors, officers, and agents of the company, following which the chairman announced that the dividend would now be payable. .