THE EQUITABLE INSURANCE COMPANY.

New Zealand Herald, Volume XXI, Issue 6956, 4 March 1884, Page 5

THE EQUITABLE INSURANCE COMPANY.

[by telegraph.—press association.] Dn.N' edi.v,,Monday. ... The first annual meeting of shareholders 111 : the Equitable Insurance Association was held, this afternoon, Mr. E. B. Cargill presiding. : Che balance to credit, as the result of the year's transactions, was £3350 13s 2d; and,the; directors recommended a dividend of. S pel: cent, to be paid out of this. Some difference of opinion was manifested as to tbe wisdom ol this course, and Mr. Campbell, after' saying that many shareholders thought tho amouut of dividend should have gone to form a'reserve fund, moved a resolution to.that effect. The Chairman explained that the directors bad well considered the matter. No doubt it was desirable to carry as much as posaibh to the reserve fund, still there was a-kind of ', mark put against companies which"did'aot" . declare dividends. After some " discussion, Mr. Campbell withdrew his proposal, when the report and balance-sheet were adopted; The Chairman, in hisspeech, aaidhe thought the shareholders would consider 'the'report a very satisfactory one, especially, ; as,it wae the result of only a first year's during which period of a new; /Insurance Company's existence there waa-always a great jealousy, and deprecatory comment on.; the part of rival companies. Tbeir.business had been carried on with care and prudence, , the company being fortunate in having for, directors men who were aotively engaged in : business pursuits in town and country; and/ who therefore knew what good business was,; and the result of the year's transactions ! showed that their efforts had met with a very great deal of success, and that/they had'; j been most assidnous in their duties.