COMMERCIAL

Greymouth Evening Star, 27 October 1944, Page 2

COMMERCIAL

SOUTH BRITISH INSURANCE AUCKLAND, October 26. “The Company had to face one or two exceptonally heavy blows during the year and it seemed at one stage that we would be unable to submit a statement equal to the standard of previous years. It is, therefore, all the more satisfactory that we are now able to show a surplus eclipsing anything previously reached,” said Mr. V. J. Larner (Chairman of Directors) at the annual meeting of the South British Insurance Company to-day. Referring to the marine insurance he said he hoped that events would justify further steady reductions during the ensuing months. Fire revenue had been more than maintained in most fields, but had fallen away a little in New Zealand due to the reduction in rates and the decreased I earthquake premium. In Australia the i Company was heavily involved in the Victorian bush fires in January last, the amount paid out by the Company being £67,000. This was the heaviestnett loss by one event in the Com- - pany’s history. Later in the year the Company was faced with another heavy disaster in the docks at Bom- 1 bay, involving the cargoes of many vessels. The losses were not yet fullv adjusted but it was anticipated that they would not exceed £25,000. MINING . The Grey River return for the fortnight ended October 25 was 542.15 ounces from 138,920 cubic yards in 235 hours.