COMPANY AFFAIRS.

Auckland Star, Volume LXX, Issue 209, 5 September 1939, Page 4

COMPANY AFFAIRS.

STANDARD INSURANCE.

STEADY PROGRESS.

COXITDKXCK IN FIXTURE

(By Telegraph—Special to "Star.")

DIXEDIX, Monday. Speaking at to-day's annual mppting of tic Standard I usurance Company, the chairman ~t <ln cctot's, Mr. \\\ K. C Reid »anl tlic policy „t tho company had a l\\ a\ s occii a conservative one. The compatn s assets had -vinvn steadilv vear 'A- M'f" . cnalilniiT them to face tlip future i n .i ~ <ii - i 11,' la I>l <> degree ~t confidence, otiip.ii nig the figures in the balance■M ,'f Ul h those Ot last year," Mr. H ( .jd continued, it will he noticed that, net premium income has increased by £I'>ooo "It oil the other hand losses arc greater l>.\ i. 1.1.1.i0. so that the net result is not finite as g,„„| as last year. During last summer Australia bush fives caused great havoc. and naturally the coinpanv was involved to the extent of several thousands. "Losses in the accident department were serious and clearly show that f 0 rates m certain departments are inadequate for the risks we run. Third party claims on the motor pool alone amounted to over 100 per cent of the premiimis. 1 -Air. <1. W. Hutchison, of Auckland, spoke ot the satisfactory position of the reserves, "lids company,'' he said, "along with other soundly administered companies "I .New Zealand, has already successfullv withstood conditions arising from war ami depression, and I feel confident will tin so again. '

Mr. \\ . h. (• I'eitl and Mr. H. T Speight v-erc re-elected directors.

W. R. CARPENTER

Referring to the company's activities at the animal meeriiw „f W. R. Carpenter and lompany. Ltd.. in Sydney, the chairman, Sir Walter Carpenter, said that a new vessel wax put into commission during tlie year, ami it was hoped to build another unring the coming year.

As there was a general feeling fcliar ships should be built in Australia the comrpanv had offered to build a 10,«X>0 ton vessel locally it the Government would pay the extia cost compared with building it in hligland. I his project, however, could not be proceeded wifh, although the shipping; industry wax considered one of the most important that a country could possess. Australian statesmen had systematically ignored the industry. The support given t'o the air service was increasing.