NATIONAL INSURANCE CO.
[BY TELEGRAM, ASSOCIATION.] Dr/NEDiN', Tuesday. ; : The annual meeting of the National Insurance Company was • held to-day. In moving the. adoption of the reportJ\Mr.. J. • M. Ritchie, chairman, said the balancesheet was of a fairly favourable character. Though the company had come out fairly well, business in the Dominion was bad, and there was reason to believe that money was lost all over last year. Government taxation was still going up, and, added to the competition of the State Fire 'Department, it was coming to be burden on profits. All the company's known losses had been provided : for, including the Maori and the "Waratah. The company's assets remained much, the same, as last year, and all investments were sound. Interest and rents had" increased by . £945, and premiums by about £8000, this being partly due to the accident department, which < the directors expected to have in operation at all points during the coming year. Underwriting profits for"; the year were about £13,000.
The motion for adoption was carried, and Messrs. A. Burt and.J. Moloney were reelected directors. "-" *', ' . '
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Bibliographic details
New Zealand Herald, Volume XLVI, Issue 14220, 17 November 1909, Page 8
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179NATIONAL INSURANCE CO. New Zealand Herald, Volume XLVI, Issue 14220, 17 November 1909, Page 8
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