COMPANY AFFAIRS.

Auckland Star, Volume LX, Issue 288, 5 December 1929, Page 4

COMPANY AFFAIRS.

QUEENSLAND INSUEANCE' CO,

In their report for the year ended September 30, the directors of the Queensland n <?o c , e .,£ om § any ' Lt(l -> show a P r ofit of ±.84508 13/8, after transferring £20,000 to reserve for unexpired risks. To the pront is added the credit balance brought forward from last year, £21,415 16/1, making a total sum of £103,024 9/9 to be dealt with. This the directors propose to do as follows:—Payment of dividend of 2/ per share, £50,000; payment of a bonus of 6d P e . r ..««- £12,500; carry forward, £41,424 9/9. The dividend and bonus amounting to YPh per cent is the same as for the past five years. Premiums, less reinsurances, were £832,418 (compared with £882,801 last year); losses were £494,587, and charges and taxes £310,906. There is a general reserve of £250,000; and a reserve for unexpired risks of £400,000; sundry creditors, reinsurances, etc., amount to £479,079. Paid-up capital stands at £500,000; revenue accoun-t £103,924. Assets include £762,900 in Government securities, £191,500 on fixed deposits, £107,004 in municipal investments, £161,760 in shares bonds, and debentures in other companies; cash at call and in hand, £95,900; branch and agency balances, £141,551; sundry debtors, premiums outstanding, reinsurance claims, etc., £112,693.