COMMERCIAL.

New Zealand Times, Volume XXIX, Issue 4280, 8 December 1874, Page 2

COMMERCIAL.

TIIE NEW ZEALAND INSURANCE COMPANY. To-day the New Zealand Insurance Company commences business with its increased capital of £1,000,000, of which £200,000 is paid up, while there i 3 a re-insurance fund of £40,000 -provided..for.... .The extraordinary success of this company has been so frequently a subject of remark that there is little need to sing it 3 praises in a repetition of figures, or to record in tabulated columns the rapid strides it has made year by year since 1859. The establishment of new offices in the colony has in no degree lessened its business, as was proved by the last half-yearly balance sheet, in which it was shown that, notwithstanding the increased competition, the premiums for, the halfyear ending 31st of May last amounted to £63,216, or an increase of £18,790 upon the preceding half-year, and an increase of £11,495 upon the corresponding half-year of 1873. The rapid progress of the company since its establishment fourteen years since, when in 18D9 Its premiums only amounted to £5390, to its present standing, when its premium receipts were, as per last half-yearly statement, £107,643, is a matter of history in commercial circles. It is not, therefore, surprising that public confidence should be so fully established that the additional shares have been so readily taken up, notwithstanding the aspersions attempted to bo cast upon the legitimacy of the pr«posal to increase the company's capital by the Issue of new shares. We have already pointed out what we believe to be the occasion of the success of the New Zealand Insurance Company, and thi3 we repeat. It la due to the fact that the local Board of Directors have a large interest In the concern, and are therefore naturally anxious that the affairs they have essayed to conduct shall be carried out in a successful manner, and therefore it is that the proper conduct of the institution receives a large amount of care and attention at their bands. Added to this, as we have already shown,.their bnsinees has month, by month been progressing, i* now spread over a wide area, and the great progress of the colony has also contributed largely to the progress of the company. We have ever been the steadfast advocates of the support of local efforts to meet local demands when the business can be done as advantageously as otherwise. It is, therefore, extremely satisfactory that we have the opportunity of pointing to the success of this and like local institutions, which supply acknowledged wants, and are carried on with an energy and business tact equal to any, and superior to many, similar institutions outside the boundaries of the colony.— New Zealand Herald, Deo. 1. BY TELWRAPh. CHBISTCHUBCH, Monday.; , Mr. De Bouxbell reports;—Share markets—Buyers :' National Insurance, 275.: National Bank, 685.; South British, 485.; Shipping Company, 10».,- Standard Insurance, Bs.; Colonial Bank, 10s. Sellers: National Insurance, 295.; National Bank, C9s.; South British, 48s. 6d.; Shipping Company, 205,; Standard Insurance, 10s.; Colonial Bank, 20s.