COMPANY AFFAIRS.

Auckland Star, Volume LXVI, Issue 231, 30 September 1935, Page 4

COMPANY AFFAIRS.

FORMER CONTRACT RENEWED. FRESH SAYINGS ARRANGED. The board advises that its London office has renewed the marine insurance contract for a further three years from September 1, 1935, on the following rates of premium which show an annual saving over last contract rates of approximately £18,000: Rates previous Reduction New rates, contract. Per cent. Butter .. 4/6 0/4 29 Cheese .. 4/11 7/ 29.7 The above rates to apply to shipments to the United Kingdom only. When mail advice is received of the new rates of premium on shipments to other ports these will be advised. The contract protects the produce against "any risks whatsoever," from the time of receipt at the factory, during manufacture, while in factory, during transit to grading store by road, rail or water, land continues the protection until 30 days after date of final discharge in the United Kingdom. (Milk and/or cream is, however, protected from receipt at factory against (ire risk only.) Earthquake risks are covered, but should damage be caused by a further earthquake underwriters reserve the right to charge an additional premium for earthquake risk thereafter. All butter and cheese intended for export is covered under the contract, D'jc produce made expressly for local sale is I not covered. Butter or cheese intended lor export, but which is subsequently diverted to local use, is covered until it is withdrawn from stores. The present premium for this risk is 1/3 per cent for the first 30 days, plus Gd per cent additional for each 30 days or part thereafter. Premiums.—All premiums are payable in London and are charged to the London agent or consignee of the factory upon the arrival of the steamer carrying the produce. THAMES THEATRE. DIVIDEND OF 3 PER CENT. The directors of Thames Theatre, ' Limited, have decided to recommend a dividend of 3 per cent for the year ended August 31, after paying off the loss incurred in the previous year. The loss last year vas £265 and the company lias not paid a dividend since 1931, when 8 per cent was distributed.