COMMERCIAL.

Evening Star, Issue 11683, 15 February 1902, Page 6

COMMERCIAL.

Mr D. J. Bews, who has been appointed inspector of the New Zealand Accident Insurance Company, and transferred to Auckland, announces the appointment of Mr D. T. Brownlie as manager of the company’s Otago branch. The chief exports of the port of Napier for 1901 were: Wool, valued at £103,771; mutton, valued at £15,271; beef, valued at £16,040; and timber of the value of £4 G57 In reply to the remonstrances of 'the local Chamber of Commerce, the Minister of Agriculture replied that the Oovernment were considering the advisability of making Napier a grading port for dairy produce, but a was feared that there was no. enough inducement to warrant (he

establishment of a cold store. The Chamber now tell the Minister that ample cold storage is available at the port, but a grader at Napier is needed.

STANDARD INSURANCE COMPANY,

The directors, in their twenty-eighth annual report and balance-sheet for the year ended December 51, 1901, state: —The income for the year, including the balance brought forward from last year, amounts to £102,249 9s 7d, and the expenditure to £84,543 19s sd. leaving a balance of £17,705 10a 2d. From this amount was paid an interim dividend in June last amounting to £2,812 10s. It is recommended that the balance be appropriated as follows;—To carry to reserve fund (which will then stand at £29,000), £4,000; to pay a dividend for half-year ended December 31, at the rate of 7£ per cent, per annum, £2,812 10s; to pay a bonus of 2J per cent., £1,875; to carry forward to next year, £6,205 10s 2d. Full provision has been made in the accounts for all ascertained losses to tho close of the year. The directors appointed Alexander Thomson to fill the vacancy in the Board occasioned by the death of Mr David Baxter.