COMMERCIAL

Evening Star, Issue 25565, 18 August 1945, Page 5

COMMERCIAL

«. STANDARD INSURANCE. Net proiit earned by the Standard Insurance Company during the year ended June, 1945, amounted to £52,470, compared with £47,711 during the preceding period. Net premium income is lower by £8,394 at £209,580, but interest on investment (less taxation) is higher. Losses were fractionally reduced. Net revenue for the year amounted to £233,741, and expenditure totalled £181,271, leaving a balance of £52,470. Carry forward from last year was £25,520. After payment of the March interim dividend £12,500), the sum of £15,000 as allocated to the reserve fund, £7,000 was applied to the depreciation of securities, and £5,000 was appropriated for the contingency fund. The payment of a final dividend at the rate of Is 3d a share is recommended, leaving to be carried forward the sum of £25,990. The directors’ statement reports that full provision has been made in the accounts for all ascertained losses during the year. Figures for the past three years are shown below: —

PEACE BONUS. On the cessation of hostilities the New Zealand Insurance Company will pay a peace bonus to shareholders. This was approved at the annua', meeting of the company in Auckland, when it was decided to leave the actual amount to the discretion of the directors. is to be made at such time following the end of the war as may be convenient to the company. MINING NEWS! Slab Hut Creek Dredge.—The return ’for the week ended on Friday was 590 z from 24,400 yards in 144 hours. IMPORT LICENSING. The Controller of Customs has notified the Dunedin Chamber of Commerce of amendments to the import licensing schedule affecting the importation of raw coffee from New Caledonia, men’s suits find men’s woollen overcoats from Australia. and paperhangiugs from the United Kingdom and/or Canada. O.D.T. DIVIDEND. An unchanged interim dividend of 8d a share, or 3 1-3 per cent., has been declared payable by the Otago Daily Times Company Ltd. on August 14. INVESTMENT REVIEW. Because of the restricted trading operations on New Zealand exchanges during the past week, when only five call-overs were held in Dunedin, no investment review is published by the ‘ Star ’tc-night. As yet there has been no markecTfinaricial reaction to the news of the Japanese surrender, but th'o trend over the fortnight -will be surveyed in the weekly review published in the ‘ Star ’ next Saturday.

1943. 1944. 1945. Net premiums ... 212,594 217,974 209,580 Interest, etc. 20,953 22,771 24,161 Net profit 40,008 47,711 52,470 Loss es 75,292 82,376 81,869 Div. p.c. p.a. ... 12i 12i 124 Div. amt 25,000 25,000 25,000