UNION INSURANCE COMPANY.
(by telegraph.) Christchurch, July ft. The annual meeting of the Union lirsurance Company was held to-day. Tho Directors report—showing a profit balance of L 18,058 for the year, recommending a. dividend of 10 percent., absorbing L 7500„ and that LSOOO be placed to tho reserve fund, and the balance carried forward—was unanimously adopted. The Chairman of Directors stated as a matter of economy it had been decided to discontinue having a manager at Wellington, and only to have an agent. Thoy did not intend to ask shareholders,, as had been suggested, for power to declare interim dividends. Mr. Cowlishav thought the policy of the directors had been rather to conservative, as the profits were not so large as they should be from the business done, insurances appearing to have been too heavy. The meeting endorsed the action of the directors. Messrs. Joseph Palmer and Peter Cunningham were re-elected directors.
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Bibliographic details
Oamaru Mail, Volume IV, Issue 1319, 6 July 1880, Page 2
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152UNION INSURANCE COMPANY. Oamaru Mail, Volume IV, Issue 1319, 6 July 1880, Page 2
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