MERCANTILE MUTUAL.
Mercantile Mutual Insurance Company, Ltd., Sydney, reports for the year • ended June 30, a profit of £58,344, ■'■' which is £2223 above the profit for the previous year. Dividend is maintained at 9 per cent, per annum, and requires £36,000, and other distributions arei > To reserve for unexpired risks, £5000; officers' provident fund £2000; reduction of freehold properties, £5000; and contingent fund, £10,344 The cornpany states that it has offered to the Federal Government the interest on £10 000 recently subscribed Common- ■ wealth War Loan for the duration of the war, and that this offer has been accepted by the Federal Treasurer. The gift of an interest-free loan in this manner has advantages to the Commonwealth Treasury over and above the usual form of making a loan of money for the duration of the war free of interest.
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https://paperspast.natlib.govt.nz/newspapers/EP19400730.2.163
Bibliographic details
Evening Post, Volume CXXX, Issue 26, 30 July 1940, Page 10
Word Count
139MERCANTILE MUTUAL. Evening Post, Volume CXXX, Issue 26, 30 July 1940, Page 10
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