COMMERCIAL AND FINANCIAL

Evening Post, Volume LXXVII, Issue 107, 7 May 1909, Page 6

COMMERCIAL AND FINANCIAL

— By Telegraph.— Press Association.— Copyright. (Received May 7, 10.15 a.m. «•» o«si LONDON, 6th May. Silver, 24§d per ouuee. MELBOURNE SIDE SALES. MELBOURNE, 6th May. Afc the hide sales to-day supplies were moderate. There was a good demand, but prices were unchanged. DUNEDIN STOCK EXCHANGE. [B? TELEGRAPH — PHESS ASSOCIATION.] DUNEDIN. 6th May. btock Exchange sales: — Hartley and Riley, £1 11s; Waihi Extended, 5s 6d (4 parcels) ; Standard Insurance, £1 2s ; Waihi Grand Junction £2 2s 3d (2 parcels); Golden Bed, 7s. OCEAN ACCIDENT CORPORATION. The report of the Ocean Accideat and Guarantee Corporation, Ltd., for 1908, states that tho revenue for the year amounted to £1,455,513. Of this, the total premium income, less reinsurances and bonus to assured, amounted to £l,402;200. The income from investments, after making provision for depreciation of leaseholds, was £52,780. The compensation paid and provided for, including incidental expenses, amounted to £797,036. Investments and other assets amounted to £2,003,798. After debiting all charges and expenses there remains, including the amount brought forward, a credit balance of £741,483, from which must be deducted the amount to be set aside as provision for unearned premiums, £467,812, leaving available a revenue balance of £273,671. The directors propose to declare a further dividend of 10 per cent for the year, together with a bonus of 5 per cent., malting a total distribution for tho year of 25 per cent. Tho balance remaining will amount to £232,747, out of which the directors have decided to add £5000 to the staff provident fund and (o carry forward the balance— £227,747.