COMPANY AFFAIRS.

Auckland Star, Volume LIX, Issue 267, 10 November 1928, Page 4

COMPANY AFFAIRS.

UNITED INSURANCE. DIVIDEND 10 PER CENT, United Insurance, of Sydney, recently , listed on the local Exchange, and which made special distributions each year from 1920 to 1927 (inclusive), is not making a special distribution this year. The report just issued shows a balance for the year of £67,402, which is £3340 less than the balance for the previous year. Dividend of 10 per cent, including interim distributions, accounts for £45,000; there is added to the reserve fund £12,500, making that fund £212,500; to the reinsurance reserve £7000, increasing it to £140,000, and to the reserve for equalisation of dividends £2500, making that account £22,500. With £508 brought forward there is carried forward £971. The report draws attention to the fact that the chairman, Mr. George J. Cohen, joined the board in 1885 on the death of Mr. L. W. Levy, that he became chairman twenty years afterwards in 1905, and has occupied the position ever since; further, the board draws attention to the fact that in 1885 the shareholders' capital was £25,000; in 1905 it, was still that sum, and to-day it stands at £450,000. The total assets of the company in 1885 were £118,005, in 1905 £237,103, and in -1928 £1,023,877. The net losses borne by. the company since its inception in 1862 and paid to policy-holders have been £3,125,345. During the ten years ended 1908 the taxation on the operations" of the company was £28,370, an average of £2537 a year; for the ten years ended 1928 taxation paid was £235,061, an average of £23,506 a year. FULLER-HAYWARD PICTURES. The directors of Fullers' Pictures, Ltd., and Hayward's Pictures, Ltd., have declared an interim dividend of 4 per cent, payable on November 16, for the half-year just completed.