COMMERCIAL.

Hawke's Bay Herald, Volume XXI, Issue 5018, 26 February 1878, Page 2

COMMERCIAL.

Eighth half-yearly report and balance-sheet of the Standard Fire and Marine Insurance Company of New Zealand, to be submitted at the half-yearly meeting, to be held at the Temperance Hall, Moray Place, Dunedin, at 3 o'clock on Monday, 4th March, 1878. REPORT. The directors have much pleasure in submitting the following statement of accounts, which show a credit to profit and loss account of £24,495 6s lOd, and which they recommend should be applied as follows, viz : — To pay a dividend of 10 per cent, per annum, and a bonus of 3d per share on the original 50,000 shares £2,500 0 0 To carry to credit of reserve fund 3,357 0 0 And to carry to credit of profit and loss, new account ... 18,638 G 10 £24,495 6 10 Since the date of last half-yearly meeting, the second issue of 50,000 shares has been placed on the market and taken up at 20s per share. Five shillings per share (equal to £12,500) has been carried to credit of reserve fund, and (should the meeting agree to the above recommendation) this fund will stand as follows, viz. : — To credit in June, 1877 ... £5,810 0 0 Then carried to credit of account 3,333 0 0 From new issue of shares ... 12,500 0 0 Now proposed to be added... 3,357 0 0 Total ... ... £25,000 0 0 The dividend will be payable at the head office and branches on and after Monday, 18th March, 1878. Messrs James Anderson and George Young retire from the directory by rotation. Both gentlemen are eligible, and offer themselves for re-election. (Signed) John Reid, Chairman. Balance-sheet for the Half-year Ending 31st December, 1877. liabilitibs. DR. £ s. d. To Capital account 37,500 0 0 „ Reserve fund .. .. £9,143 „ „ „ new issue 12,500 21,043 0 0 „ Sundry credits, as per ledger . . 3,189 17 4 „ Received on account of new issue of shares 14,468 17 6 „ Balance of profit and loss account .. 24,495 6 10 £101,297 1 8 ABBOTS. Cn. £ s. d. By "Investments 69,947 2 0 „ Buildings, &c 1,819 18 5 „ Cash and bills in bank and in hand 12,010 0 6 „ Cash at agencies, outstanding and in hand ".. .. 17,520 0 0 £101,297 I 8 PROFIT AND LOSS ACCOUNT. Dr. & s. d. To Fire and marine losses 31,698 16 1 „ Commissions, salaries, and charges 0,240 011 „ Balance 24,495 CIO £02,434 9 10 Cr. £ S. d. £ 8. d. By Balance Tune, 1877 20,739 "2 1 „ Less dividends, &c, then doclared . . 10,203 0 0 16,531 2 1 „ Net Premiums received 44,306 10 5 „ Interest and transfer fees 1,596 17 4 £62,434 9 10 I hare examined the above balance-sheet and profit and loss statement, together with the vouchers and accounts, as also the books of the company|aud securities, and hereby certify that the above is a correct Statement of the affairs of the company. (Signed) Alex. C. Bkog, Auditor. Dunedin, February 16, 1878.