STANDARD INSURANCE

Dominion, Volume 29, Issue 303, 18 September 1936, Page 12

STANDARD INSURANCE

Scope of Operations A suggestion That the Standard Insurance Company, Limited, the head office of which is in Dunedin, is considering the extension of its activities beyond New Zealand and Australia, was made at the annual meeting of the company last week., “Unless we decide to widen our sphere we cannot hope for great development,” said Mr. W. F. Edmond, chairman of directors, in the course of his address to shareholders. “Slowly but surely we have built z up our reserves during the past 62 years, and to-day few companies are in a sounder position, but if we are to keep pace with our contemporaries, I feel satisfied the time has arrived when we should seek fresh fields and pastures new.” Reference to the same subject was made later in the meeting by another director, Mr. G. W. Hutchison, of Auckland. Mr. Hutchison said he felt sure the directors would approach the subject of extending the company’s operations outside Australia and New Zealand with the greatest care and conservativeness. Personally. he thought it would be sound policy for the board to look further afield.

Base Metals Market

By Telegraph—Press Assn.—Copyright. (Received September 17, 8.5 p.m.) London, September 18. The official London (middle) quotations for YVednesday, as reported by the Australian .Mines and Metals Association, com pare with those previously cabled as fol-

Dunedin Rabbitskin Sale By Telegraph—Press Association. Dunedin, September 17. , Catalogues were smaller at to-day’s rabbitskin sale, and the quality of the winter grades offered was definitely poorer. The demand for export to America showed signs of slackening nnd all grades of winters were 3d. to 6tl. lower than at the last sale. The following is the range of prices:— Summer broken. 24}d. to 28Jd.; second winter broken, 40<l. to 42d.; first winter broken, sOd. to 51 jd.; runners, 27d. to 28}d.: summer bucks, 29}d. to 30jd.; docs. 30}<L to 31jc1.; small, 17}d. to 18jd.; light racks, 33d. to 35d.; first spotted winter bucks, 108 d. to H2d.; does. 70d. to 73d.; second winter bucks, 125 d. to 126(1.; second winter docs, 7Sd. to 81 jd.: first winter bucks, 135 d. to 138(1.; first winter does, 87d. to 89jd.; prime bucks, 138 d. to 139 d.; prime does, 9jd. to 92}d.; outgoing, bucks. 89d. to 98jd.; does, 60d. to 64d. Spring bucks, GOd. to 64 jd.; does, 4()d. to 41d.; milky, 32d. to 40j1.; fawn, 30d. to 40d.; winter fnwn to 70d.; summer black. 22d. to 23d.; first winter black, Sid. to 84d.; second winter black, 66d. to 68<1. Harcekins, 32d. to 43d.; horeshair to 18}d.

Komata Reefs’ Profit

The report of Komata Reefs Gold Mining Company, to March 31, shows a profit of' £6246. against £5461 in the previous year. income tax requires £927, as against £671. and after payment of the final dividend of 3d. a share, making 2a per cent, tax free, there is £587 to be carried forward, compared with £.>SB brought into the account. The directors state that, investments continue to be principally in shares of producing dividend-paying companies. There has been little opportunity for speculative investments for capital appreciation. North Kalgurli '(1912), in which company Komata Reefs has a large holding: paid dividends amounting to 62} per cent, for last year, and output and profits have been increased during the present year. Ore reserves Assure a long life. Holding In shares of North Kalgurli was therefore considerably increased during the year. Investment in Keutan Gold Areas was increased at recent issue of shares. It is stated this company will begin production on a large scale at the end of next year. Other investments are in tin shares, all of which are producing and dividend paying. The company has holdings in Tanganyika Concessions. Boulder, Perseverance. South Kalgurli. Waihi Investments. Martha Gold Mining (Waihi). Imperial Mining Gold Exploration and Finance Company of Australia.

Gold Mining Returns

The Paddy’* Point return is 86oz. 3dwt, for 22 days’ work.

lows: — Sept. 15. Per ton Sept. 16. Per ton Copper— £ s. <1. £ s. <1 Standard, spot 3!) 1 10} 38 19 4} 39 3 1} Ditto, forward ... 31) fl 10} Electrolytic .... 43 10 0 43 5 0 to 44 0 0 43 15 0 Wire bars 44 0 0 43 15. 0 * Lea d'Spot 18 10 0 IS 11 3 18 8 9 18'10 0 Spelter— Spot 14 fl 3 14 8 9 Forward 14 11 3 14 13 9 Tin— Spot 196 U 0 194 10 0 Forward 103 17 fl 191 7 6 Silver— Standard, per oz. . 10 7-lfld. 19 jd. Pine 21d. 21 l-10d.