STANDARD INSURANCE COMPANY.

Otago Daily Times, Issue 4870, 26 September 1877, Page 7

STANDARD INSURANCE COMPANY.

a- , The seventh half-yearly, meeting of the 33 above Company wa3 held iv the Temperance v Hall on the 3rd inst. Mr John Eeid ie was in the chair, aud thei c were ab^ut 20 , c shareholdtrs present. The following ll- EEPORT .AND BALAXCE SHEET c were taken as read :— c REPORT. k The Directors have much pleasure in submite ting the following accounts :— The balance to credit of Profit and Loss Account is L 26,739 2* ld, of which amount ■ L1G,031 2s ld will require to be set aside as t unearned premium," leaving an available r balance of L 10,205, which the Directors recomy mend should be applied as follows, viz.:— h Dividend of 9d per share ... £1,875 Bonus to shareholders ... 2,500 Bonus to insurers ... ... 2,500 - s Reserve fund 3,333 I £10 20S rr The dividend and the shareholders' bonus is = recommended to be carried to credit of Capital Account, which would then stand at L 37.500, a and the Reserve fund at L 9140. • i.TM 6 Sectors are of opinion that future y dividends to shareholders should be paid in cash, as ifc will not be necessary to further augment ths Capital Account from that source. John Beid, Chairman. 3 BALANCE-SHEET. C LI.UHLiriES. „ ToCipital 31,250 0 0 Capitalised, Dec, 157(5 1,t>75 0 0 ' '..„. ._, •—- 33,125 .00 } Reserve Fund.. .. 5,810 0 0 Bonus Unpaid .. 2,112 7 4 Baiauce of Profit and LS3 Account ze',7S9 2 1 I . £G7,788 9 5 . Assets. ' d t" ■ . '. ■ £ 8. d. By Inyestmen's .. .. .. .. 45.554 IS 9 Value of Buildings, Furniture, &0... l 821 2 5 Cash in Bank at Dunediii .. ..2083 0 9 Cash in Bank at Agencies, outstaud- ' ; ing, aud in hand .. .. 17,022 7 6 £67,780 9 5 PROFIT AND LOSS ACCOUNT. .To Fire ani Marine Losses .. .. 20,797 13 6 Agents' Commission 3^607 14 4 i Salaries and Charges 3]093 13 8 Balance .. .. 26 739 2 1 '.. ' ' £54,29S 3 1 „ „ . £ c. d. £ s. ~d. By Balance Djc, IB7C .'. 19,839 16 7 Le. s Dividend capitalised .. .. 1,875 0 0 ."" "',,,„.'' '„ „ '.' : — 17.064 10 7 Net Fire and Marine Premiums] 31.915 1 1 Interest and Transfer Foes 1,413 5 5 - £54,293 3 1 I hxvo examined the above balance-sheet and profit and loss statement, together with the vouchers and accounts, as also the books of tho Company and securities, and hereby certi'y t!ut. the abovo is a correct statement of the aff ars of the Company. (Signed) F * Tuos. Hoodie, _ For Alex. C. Be<j6, Auditor. . Dunedm, 14th August, 1577. FORBURY PARK COMPANY LIMITED. ■■■-.■■ .— :#" '.-',-■...- The sixth annual meeting of the Forbury Park Company was held in the Empire Hotel on the 14th. Mr James Marshall was voted to the chair. KEPORT A.ND BALANCE-SHEET. The following: report and balance-sheet were taken as read : — •In presenting the balance sheet and report for the year ending 31st July last, the Directors beg to congratulate the shareholders upon the improved-state of the Company's finances. The balance to credit of Profit and Loss Account is L 621 lis 2d, which they recommend should be applied as follows: — To payment of a dividend of 6s per share for the half-year endiug 31st July, 1876 ... £180 0 0 To Payment cf a dividend of 12s per 'share for the year just c105ed...,. ... 360 0 0 To be carried forward to new account ... ... 8111 2 - .i £62111 2 At a special meeting of shareholders, held on the 6th day. of . July last, resolutions were adopted authorising the sale of that portion of the Company s property adjoining- the Sand Hills, and it will shortly be submitted to public competition. ■'■«■•■• Messrs Walcott, Stephenson, and Larnach retire from the Directory by rotation, and- Mr ' C. S. Reeves's appointment as Auditor expires by effluxion of time. The retiring Directors and Auditor are eligible, and offer themselves for re-election. James Marshall, Chairman. PROFIT AND LO«S. . Dr.—To rates and taxes, L 3719 5; salaries, L 13 8; advertising, printing, and petty charges, Ll3 7s 6d; dividend for half-year ending January, 1876,. L1S0; Directors' .fees, L4O Ss 6d; Auditor's fee..Ls ss: balance, L 621 lis 2d, Total, L 1036 lis 2d. ; ; t Cr.—By balance last audit, L 245 103 8d; rents; L 600; grazing, LlB4 10s 6d: transfer _fees, L 6 10s. Total, L 1036 lis 2d. BALANCE-SHEET. Liabilities.—To capital—6oo shares LlO each; L 6000; W. Asher.and Co., L 92 '13s',ld;j"St Kilda Corporation,;L37 19s ; Secretary, L3O; Auditor's fee, L 5 os ; by balance of profit, L 621 lis 2d. Total, L 6.787 Ss 3d. :;..:..' Assets.—By fencing, L 425 9s lOd • office furniture, L 7; freehold property, L 31054 5; Dunedin Jockey Club, L6OO ; sundry debtors, Ll3 10s ; improvements, L 2630 153 9d ; cash in Bank, L 5 83 Bd. Total, Le,787 8s 3d. i Having audited the books and vouchers of the Company,' and compared them with the balance-sheet, I hereby .certify to its correctness. . ':- - C;' S. Reeves, Auditor. PAT.. y° Thos. Edwards, Secretary; Oa'the'mdtion?of'tho'Chairman,-'seconded; jby Mr Eliott, the report and balance-sheet j were adopted.. : • ELECTION OF DIRECTQBS AND AUDITOR, Mensrs Walcott, Stephenson, and Wm. Kennedy were elected Directors, and Mr c! S. Iteeves, Auditor. y I THE INDEPENDENT ORDER OP ODDFELLOWS. The annual session of the Grand Lodge of this Order commenced -n Dunedin on the 17th inst., and meets every evening until such time as business has been concluded. It has been resolved to hold the next session at Timaru. "From the report of the Grand Master (Bro. Joseph Braithwaite) we take the following.Herewith isa summary of the main items for "the past twelve months, transcribed from the Grand Secretary's statements. Ah idea of our correct position cannot be given through neglect oi several Sub-Lodge Secretaries, whom it will be my duty to bring under your notice. Graxd Lodge. At credit of General Funeral Fund .. £1047 14 11 Do do Management Fund 50 0 0 Stock on hand .. .. .'.. .. 50 0 0 Total worth .. .. £1147 14 11 Hepr. rented as follows :— In P. O. Savings -Bank, making 4 per cent." .. .. ~ ~ -# 147 J3 q In Commercial Building Society, share account, making 14 per cent. .. 350 0 0 In Commorci-1 Building Society, debenture account, making S per cent. .. 224 9 0 Amount of interast accrued .'. ,', 35 0 0 Cash in hand .. IS 17 4 £775 19 4 Pioneer Encampment .. £109 4 3 Stock 50-0-0. Owing by Lodges .. .. 212 11 4 '■ 371 15 7 £1147 14 11 RELATXXG TO SUB LODGES. Membership, Benefit .. 493 -Do Honorary ~ ~ .. 22 — 515 Number of Lodcres ..-.-. .. .... 17 Amount expended for Funerals .. ..£9s*o 0 Do .do Sickness (returns fr„,in SLodgcs) .. ..' 99 II 8 Aggregate valuo -of Lodge funds (returns from 9 Lodges), exclusive of property, regalia, etc. .. .. ~ £2350 0 0 .From these figures, L 241 14s 7d has beon added during the year to the worth of tbe Grand Lodge, L 239 18s lOd of wbich goe3 to the credit of the funeral fund, and Ll 153 9d to the credit of stock. The sum of L576s 3d has been transferred from the incidental fund of the previous year to the credit of the funeral fund, making in all L 287 5s ld credited to the funeral fund during the year just closed. Perhaps it would be advisable to consider the propriety of reducing tbe assessment of lodges to tne G. L. management fund from Is to Odper member. This amount would be amplysufficient for general purposes, and would reduce the management expenses of the lodges. : new lodges. Two new lodges have been instituted during the year, viz:—Green Island Lodge, oh Gth October, 1876, with a membership now of 24 ; and the Avon Lodge, Christchurch, oh December 4th, 1876, which has a membership iof 36. Both are working successfully, and my hope is, they may be productive of good fruits to the Order. HALLS. The desirability of Lodges having their own

I halls has always been a pefc theme of mine. Meeting in hotels is inconsistent with the spirit i of the principles of our Order ; and even when i Lodges cannot get halls of their own, tliey should meet in places away from hotel iuflu encei Each year lately we are making a step iv advance in this direction. A new hall for the Pioneer Lodge will be erected in Eattray stieet, Dunedin, to cost about L2IOO. A tender is accepted, and wark commenced. The bottom storey will be conveniently arranged for pubhc purposes, to accommodate 500 persons ; and the upper storey will comprise a Lodge-room, with three ante-rooms. Tliis is a jcommendableatep on the part of the Brothers ,o£ oux" .Paf.eut : Lodge, who inaugurated this movement, arid their enterprise deserves. every success. The financial success attending the Leith Lodge, as also.the Star of Canterbury's' liall^ have exceeded riiy auticipatious of last year. Nofc only have they paid all expenses and interest of cost, but realised a good round sum to pay towards the cost. The Temuka Lodge haa purchased a plot of ground to build ] a hall on. ...-...,..--...■

The facts iv these tables prove that not alone our own Society, but every other Frieudly Society here are working upon insufficient rates of subscriptions arid unsound financial systems. Our Order, however, has been working on better financial principles in these' repects than any of the other Orders iii Duuedin. There is not the slightest vestige of doubt iv my mind but that the adoption of Table O is tae only sure means of our being able to realise the benefits we promise to ourselves in the future, and it will be much easier tv valuate the Lodges uuder this table, which the Government requires now every five years from registered Lodges. Let us anticipate our future permanency, and show that as soon as we knew our position was nofc secure we adjusted the difficulty at once, like men and' Oddfellows, without being compelled by any outside pressure, which the operations of the new

FBIENDLY SOCIETIES' BILL will certainly impose. This BiU will prove a protection to the true interests of all I'riendly Societies, and give them a locus standi iv a court of law. One im por tant fact which the Bill accomplishes is that our Graud Lodge cau register all her branch sub-lodges and havo control over them, which was denied in the old Act; and further, no Lod^e cau dissolve without the consent of the Grand Lodge, if so the members thereof make themselves liable for heavy penalties.