COMMERCIAL.

Otago Daily Times, Issue 12600, 2 March 1903, Page 3 (Supplement)

COMMERCIAL.

' 'STANDARD INSURANCE COMPANY. •Tho following is tho report to bo submitted to-tlie -shareholders of the Standard Fire and' Marino,.lnsujancQ.Compauj. at their meeting on tho 2nd March:— _ . The| directors havo pleasure in submitting tlio report and balance sheet for the year ending' December 31y 1902: Tho income for the year, iiieiuditfg thd balance brought forward from last year, amounts' to £103,G37 7s 9d, and the expenditure to £5G,653 12s Id,- -leaving a balance of *£22.143 15s Bd:' From this amount your directors paid an interim dividend in June last amounting to £2&12 103, and-recommend that tho balance bo appropriated as follows:—To pay a dividend for half-year /aiding Docember 31 t at tho rate of 1} per cent, per annum, £2812 l(jj; to "pay ft boiius ofSJ per cent,, £1876; to carry to reserve fund (which will then.stand at £30,000), £1000; to carry to re-insurance reservo (which will then stand at £20,000), £5000; to - provision for depreciation in securities, £2000; to carry forward to next year, £6643 IBs Bd;—to.tjil, £22,143 15a Bd. Pull provision has been made in the accounts for all ascertained losses to the close of the year. Tho dividend and bonus now recommended, if approved by the shareholders, will be payable at the company's -offices immediately after the meeting. •The Hon. Thomas Fergus and Mr Alexander Thomson retire from tho directorate, as provided by the articles of assoeiation. Both ate eligible, and offer themselves for re-election, ilr Patterson offers himself for re-election '.as auditor." PROPERTY SALES. Messrs Wright, Stephenson, and Co. report as follows:—By order of the mortgageo we offered on February 14 the farm et German Plat, Waitahuna, at present in the occupation of Mr William Murray, consisting of 1929 acres 3 roods, 25 poles, and being sections 19, 20, 2-2, 23, 25, 31, and 34 to 37, block VI, Tuapeka East district. The farm is situated about four miles from Waitahuna railway station, and is subdivided into 10 paddocks of varying size. The improvements consist of fencing (in good order), dwelling, and other necessary buildings. About 300 acres are in English grass, 20 acres in crop, and the bahvnee in its natural state. There was only one offer made for the property, but, as it was considered too lott, no "business resulted. The placo is now for private and bona fido sale at a remarkably small price and on terms to an approved purchaser, .which should surely induce some practical man to acquire it. Messrs Wright, Stephenson, and Co, report having sold, by private treaty, on account of Mr Stephen Hunter, Harringtons, his farm, being section.4l and part of sections 42 and 43, .Cowan's Estate, also lot 7, Benmore Estate, containing 1105 acres, to ifr John M'Kay, Mataura-Island, who is to bo congratulated on having sec'ired such a desirable property. Messrs 'Wright, Stephenson, and Co. report having effcctcd the following sales privately:— On. account of tho proprietors of tho Coombe Hay Estate, the remainder of the property, being lot 5 on the sole plan, containing 1808 acres, moro or less, agricultural land, forming tho homestead block, subdivided into nine paddocks, to Mr D. It. Howden, of Kyebum, at a satisfactory price.