AUCKLAND.

Oamaru Mail, Volume II, Issue 379, 11 July 1877, Page 2

AUCKLAND.

OPENING OF THE WATER SUPPLY. NEW ZEALAND INSURANCE COMPANY MEETING. July 10. The Chess Club has presented Mr. Aitken's Interproviiicial Cup to Mr. Morton, the winner in the contest between the members of the Auckland team. Mr. Boylan has been elected Chairman of the Harbour Board, in place of Captain Daldy. The Auckland Water Supply was declared officially open to-day, with little ceremony. The test of pressure with the lire-hose gave most satisfactory results, throwing a strong jet of water over the highest buildings. '"' In the boat race between The .Brothers, one of the smartest Auckland sailing boats, and the Pet, the latter won, with half a minute to spare. The race created much interest, and was very close throughout. July 11.

The New Zealand Insurance Company's half-yearly meeting took place this afternoon. The directors' report for the halfyear ending 31st June stated that during the last few months the Company's marine losses had been exceptionally heavy, including those by the Ocean Mail, Great Queensland, Ecairo, and other first-class

risks. Provision had been made for these and all other ascertained losses up to the close of half-year. The directors had been enabled to carry L 30,000 to the re-insur-ance fund, which now stands at LIOO,OOO, by the enhanced value accruing, after a careful re-valuation of the Company's investments from the available balance, L 19,665. The Directors recommend the payment of a dividend of 15 per cent., leaving the balance of a L4GOS to be carried forward.