AUCKLAND. April 9.

North Otago Times, Volume XXVI, Issue 1551, 10 April 1877, Page 2

AUCKLAND. April 9.

South British ex. div., 77s to 70s; Moanatiri, Ll3 10s to Ll4 ; Kurunui Hill, 32s 6d to 365. In the Supreme Court, William Gibson, 18, for *n indecent assault on a girl, aged 8, was found guilty ; sentenced deferred. Peter M'Grath, for brutally beating his wife, was lentenoed to three years' penal servitude. Slim Simmons, ohargea with receiving stolen property, was acquitted. During the proceedings a juryman, named Benjamin M'Kerrah, escaped, and w*a fined L 3. At the ninth half-yearly meeting of the South British Insurance Company, today, tho report was read as follows :— The directors have pleasure in presenting to the shareholders the following report and statement of accounts for the halfyear ending February 28th, 1877. The sum received on premium account was L 57,908 16s lid ; interest received and accrued, L 3790 12s 5d ; transfer fees, LlB 15s ; losses and re-insurance account, L 30,719 13s 2d; agents commission, salaries, printing, and general expenses, 140,105 12s 7a; amount standing to credit of investing account, L 110,844 11s lOd ; balances standing to credit of profit and loss account at olose of the books, including interest and amount brought forward from last half-year, L 26,462 Is 3d. Insurance companies being constantly liable to extraordinary losses, your directors feeling that it is necessary gradually to strengthen the reserve fund, have therefore carried to the reserve LlO,OOO, making L 40.000 ; this leaves a balance of L 10,963 Is 3d, from which your directors recommend payment of a dividend of L 2 per share, being at the rate of 10 per cent, per annum on the paid-up capital of the company. Shareholders will be glad to learn that the new offices of the company at Dunedin are completed, and the business of the agency is now transacted therein. It is a handsome and commodious building, in a first-class position. Plans for offices* of the company at Christohurch have been approved, and the erection of the building unll be shortly commenced. The Company, are much indebted to the Dunedin and Christchurch Boards of Directors for the trouble they have taken in regard to securing excellent sites and offices. The Brisbane office, it is expected, will be completed and occupied before the close of the present halfyear. The report was adopted. Votes of thanks were passed to the Dunedin and Christchurch directors. The retiring auditors were re-elected. The dividend will be payable to-morrow.