THE COLONIAL INSURANCE COMPANY.
(Per United Peesh Association.)
Wellington, May 18,
■ The annual meeting was held to-day. The report for the year ended March 31 shows a loss, after transferring the" reserve fund to the profit and loss account, of £2792. The directors; while deploring this unsatisfactory state of things, repeat that they have the satisfaction of knowing that no effort has been spared to avoid improper or hazardous underwriting. The business of the Company has been largely curtailed by the closing of several unprofitable agencies, and all classes of fire and marine risks have had the closest scrutiny and revision.- The directors hope by curtailing expenses and steadily pursuing a cautious policy within the restricted area of their operations that at next annual meeting they will be able to present, a more cheerful statement. It is proposed to limit the directors' allowances to £300 until a better state of things is assured. .'■■'[ ■■■■'■
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Bibliographic details
Otago Daily Times, Issue 7568, 20 May 1886, Page 3
Word Count
153THE COLONIAL INSURANCE COMPANY. Otago Daily Times, Issue 7568, 20 May 1886, Page 3
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