(FROM OUR OWN CORRESPONDENT.)

Otago Daily Times, Issue 8387, 10 January 1889, Page 2

(FROM OUR OWN CORRESPONDENT.)

At the New Zealand Insurance Company's meeting to-day, the Chairman (Dr Campbell) in moving the adoption of the report and balance sheet said: —" It affords your directors much pleasure to be able to meet you to-day, and notwithstanding cur losses having been exceptionally heavy, to recommend the payment of the now almost customary dividend of 15 per cent, without trenching upon the reserve, and after carrying, the sum of £SOOO to credit of investment fluctuation account, and writing off £13,186 as depreciation in investments. The increase of £26,51119s 5d in premiums is certainly extremely gratifying. That increase has been distributed over nearly the whole area of the company's operations. Our two largest losses are represented by the sum of £7000 on the loss oE the wool ship General Picton from Melbourne, and £5045 at the great fire in Brisbane last September. There has been, as was to be expected, a diminution of interest receipts from our investmerts, arising from the decreased value of money. Looking to the fall which has taken place in real estate, your directors have most carefully gone over the whole of the properties and investments of the company and have written these down to a safe margin. Not content with their own judgment, your directors submitted those to the scrutiny and revision of the auditors. These gentlemen being in every way independent of the directors—receiving their appointment direct from your hands—wo considered it would be a cause of satisfaction for you to know that they bad sat in judgment upon so vital a point, aud acquiesced in the figures which appear in the balance Bheet. As regards expenses we have been able to keep the rates to about the same as last year, slightly exceeding 28 per cent, on the premium iucome. The greater portion of these expenses is the commissiou paid to agents, who control a very considerable amount of business. You will note by the report in your hands that action has been taken in the direction of reducing the qualification enabling shareholders to hold a seat on the board. Aocordiug to the existing articles of association a person to be eligible must hold shares in his own right, which, at the price which the company's shnres now stand aud have now for so long stood, represents a capital investment of £2000. The directors consider that so large a sum limits withiu too narrow a radius your choice of directors, aud at the extraordinary general mooting which takes piace on the termination of the present proceedings a resolution will bs submitted reducing the qualification to 500 shares, which it is hoped may be more in accordauce with the views of shareholders and nitut with their approval. With these few remarks I beg to move the adoption of the report aud balance sheet."

Consumption, Wasting Diseases, asd Geseral Dkuilitv.—Doctors disagree as to the relative value of Cod Liver Oil and Hypophospliites ;—the one supplying strength and flesh, the other giving nerve power an.! »-/l-iiifj as a toni.s to the digestive and entire system. But in " Scott's Emulsion ofPube Cod LivfiiOlL with HyvopjiospHiTKS" the two are eonit>".!K'<l.H!.dti)i! effect is wond't-lul Thousands wh.i hav<-ih-.i-.v.-d :ii i!crr,in:i<:iit lv m-lit from other piTpiratinns ha\i- been aired hy this. "Scott's Kmlm-shix"'is perloctly palatjible and is easily nipisti'd even by those' who cannot tolerate plain Cod Liver Oil. Sold by all Chemists, in twoskes, large add bimill, a Lki uud -s ud. 10