JUBILEE BONUS

Evening Post, Volume CXXII, Issue 132, 1 December 1936, Page 12

JUBILEE BONUS

QUEENSLAND INSURANCE

Queensland Insurance Co., Ltd., Sydney shows a profit for the year ended September 30 of £116,153, compared with £108,173 the previous year. Dividend is maintained at 8 per cent., and requires £60,000. The dividend for 1934 was 10 per cent. There is- also a special jubilee bonus of £15,000 to shareholders, which is 2 per cent, on the capital, and a special jubilee bonus to the s'afr of £5000. In addition, £25 000 is transferred to reserve fund, making it £325,000, and £5505 to the staff provident fund. With £34,805 brought forward there is carried forward £40 453. Premium income shows an increase of £43,843 and interest and rents £2211. With the increased premiums there has been an increase of £23 624 in losses, and the charges have gone up by £4330. Tax payments were £9878 lighter. The reserve funds at beptembcr 30, 1936, were: General reserve £300,000, reserve for unexpired risks £330,0UU. Assets include Government securities £1039,976, fixed deposits £212,708, municipal debentures £89,542, shares ■p 14G 6G5. Liabilities include paid-up ■capital £750,000, sundry creditors £363,760.