THE COLONIAL INSURANCE COMPANY.

New Zealand Herald, Volume XX, Issue 6695, 3 May 1883, Page 5

THE COLONIAL INSURANCE COMPANY.

[BY TELE6RAPII.-4PRI3SS ASSOCIATION.] V Wellington, Wednesday.'. The fifth annual report 1 ,of" the Co.loaial Insurance Company, to be presented at .the . meeting on the 16th inst., . shows.the . gross" income for the year ended 31st March, ISS3,. together with the balance brought forward; from the previous year, amounted to £52,242 12s lOd, the expenditure under all headings," including losses, being £73,084 12s Bd. There; is, therefore, a credit balance of £9153 0s 2d for disposal. Of this sum the directors.have placed £2500 to the reserve fund (which now stands at £10,000) and recommend the payment of a dividend of 10 per cent, to shareholders (equal to £5000), leaving £1658■ 0s 2d to bo carried forward to next year's account. The directors congratulate the shareholders on the substantial increase of the company's business, which is . mainly attributable to the cordial support given' 1 by the' shareholders, and to the confidence of the public in general. This is more gratifying,"as during the past year competition'for > business has been keener than in any previous l year since the company commenced operations, and has necessitated thegreateat care in the selection of risks.