NEW ZEALAND INSURANCE COMPANY.

New Zealand Herald, Volume XXXIII, Issue 10019, 4 January 1896, Page 5

NEW ZEALAND INSURANCE COMPANY.

The following is a copy of the report and balance-sheet for the year ending November 30, 1895, to be presented to shareholders on Wednesday, Bth tout. :—

Th» Directors have pleasure In presenting to ths Sliar holders the Accoui:'j cf the Company as at the 30th November, last. £ a. d. The profit on the year's transactions, after makln« full provision for all ascertained losses ') date of bcJalien, amounts t<> 32,953 »8 9 The balance brought forward from 1394, after payment of dividend in January, 1895, was',. .. ~ 18,008 13 2

£51,502 13 11 Deduct Interim dividend paid in July lut 12,600 0 0

And there Is an available balance at Profit ami Loss Account on 30tb November, 189!>, of .. ~ . .. £39,062 13 11 From which your directors recommend the following appropriations :— 'ayinsnt of a Dividend at the rate of 12} par cent, par annum .. .. £12,600 0 0 ?aymer.t of Bonus to Shareholders ofO'lparsluie ' 2,500 0 0

Investment I'luctuation Account .. 0,600 6 6 Contribution to Auckland City LeAsnhold Sinking Kami .. .. 6,000 0 0 Balance carried forward to Neit Amount 12,662 13 11

£39,003 13 11 Although the amount standing to the credit <f the Auckland i lly Leasehold Sinking Fund b now very considerable, your directors hare thought it pradent to add a furthor sum of £5000. They h_ re «1 o appropriated £0500 to the Investment Fluctuation A/count.

It W with deep regret your directors have to record the death, on l)"c»mher Ist, 011 board th« P. ami O. a.-. Home, of Mr. Warwick Weston, who, during the long period of his connection with the Company, both as inspector and <eneral manager, contributed in a raarkuil degree to its success.

Messrs. J. L 'Ran C unpbell, J. 1.. Wilson, and A. H. Nathan retire from the Board, as provided for by the Articles of Association, and are eligible for election Messrs. A. Bnaidmin and 11. Oiltllhn, Jan., again offer their services as auditors, For the Board of Directors, J. Locum Campbell, Chairman. Statement op Accounts for the Year Ended sotii novrmueii, 1895. Profit and Loss. Dr. £ «. d. £ s, d. To Dividend for the half-year ended 30th November, 1894 ~ 12,600 0 0 Bonus for the year ended SOth November, 139*" 2,600 0 0 Dividend for the halfyear ended 31st May, 1895 12,600 0 0 —- 27,600 0 0 Commissions, salaries, * and other expenses 72,001 8 3 Government taxes and payments to F,re and Marine Associations 8,239 1 4 . 79,203 9 7 Fire and marine losses and appropriation for unpaid losses.. .. 172,137 0 8 Investment Fluctuation Account .. 6,500 0 0 Auckland City Leasehold Sinking fund 5,000 0 0 Balance 27,662 1311 £317,903 4 2 CR. £ s. d. By balance at 30th November, 1894 .. 33,608 16 2 Fire and marine premiums, less returns and reinsurances ~ .. 267,016 10 0 Interest and rents 16,377 12 3 £317,903 4 ~2 Balance-sheet. Dr £ a. d. £, b. d. To capital 200,000 0 0 Reserve fund .. .. 1-26,000 0 0 lie-insurance fund ~ 110,000 0 0 —,^_— 236,000 0 0 Investment Fluctuation Account— Amount last year 4,011 16 8 Transfer fr >m profit and loss account .. .. 6,500 0 0 £10,611 16 3 Less written off sundry investments for depreciation .. 8,52319 8 1,98716 7 Appropriation for unpaid losses ~ 32,528 0 0 Sundry croditors 13,762 6 0 Balance 27,562 13 11 £610,84716 8 CR, By investments— Mortgages and shares 71,186 1 3 Company's freehold oftice premises and other properties .. 246,824 0 5 Unitod States Bonds 11,480 0 0 Capo of Good Hope Government securities 10,047 10 0 Argentine Government securities .. 2,647 7 6, Debentures .. .. 7,847 17 9 Loans at call, short periods, and fixed tank deposits .. 69,778 17 8 408,81014 7 Auckland city leasehold .. .. .. 66,77717 7 Less sinking fund al- 1 ready accrued (Indull™ present appropriation of £5000) 24,933 2 1 31,794 15 6 £440,605 10 1 Accrued interest and rents ~ ~ 3,019 19 8 Branch and Agency balances ~ 64,103 6 0 Cash in hanks and In hand, it head office and branches,, ~ ~ 13,112 " 6 £610.>'40*lii~3 We have examined the books and accounts of the Company for the year ended 30th November, 1896, and nave to report that the balancesheet now presented to the shareholders Is a full and fair balance-sheet, and exhibits a true and correct view of the state of tlio Company's affairs, A. BOARDMAN, ' 1, Auditors n.(in.FiM.AN,JuK.,/. , wrs : Auckland, 28th December, 1895, ,', '"•;;,'