NEW ZEALAND INSURANCE CO.

Otago Witness, Issue 1417, 18 January 1879, Page 20

NEW ZEALAND INSURANCE CO.

Auckland, January Bth. The half-yearly meeting of the New Zealand Insurance Company was held to-day. M» f. L. Campbell in the chair. The following report and balance-sheet were read and adopted :— The Directors have much pleasure in sub mitticg to the shareholders their thirty-sixth report and balance sheet. After making due provision for all losses to date, and carrying LSOOO to the reserve fund, which now stands as L 4.0.000, there remains a sum of L 19,283 Is ILI available for division, which the Directors propose to appropriate as follows : — To payment of a dividend at the rate of 15 per cent., L 15,000. Balance carried forward, L 4283 Is lid. Total, L 19.283 Is lid. Warrants of dividends will be issued &{■ the Company's offices to-morrow, and at the several branches and agencies on receipt of a<l vices. In accordance with the deed of RPtllt-meni. Messrs Macfarlane, Stowe, and Wilsm will retire from office, and ace eligible foi' re election. Messrs Lowrie and Fraser y,!.io offer themselves for re-election as auditors. Statement of Accounts For half-year ending 3t)th JSTovomuer, lfcTtJ. PROFIT AUD LOSS. Dr. £ f. d. To dividend for half-year ending J[av, 1878 .. .. .. 15,000 0 0 Commission, Eabrie3, and olh^r expenuH .. .. .. '^3,154 4 4 Fire anrt marine losses .. .. Ut.ii'l 0 (i Appropriation for unpaid losses . . 2"i,41S 0 0 Reserve fund .. .. .. 6 000 0 0 Balance .. * .. .. 19,23 i 1 11 Total .. .. ..£145,999 0 9 Gr. £ s. d. By Balance from last half-year .. 18 873 8 6 Appropriation .. .. 30,520 0 0 Fire ai)d Marine premium? (less reinsurances) .. .. .. 86,100 13 0 Interest, rents, transfer fees, and profit on investments realised .. 10,505 5 3 Total .. .. ..£145,999 6 9 BALANCE-SHEET. Dr. . £, s. d. To Capital .. .. .. 200,000 0 0 Reinsurances Fund „ .. 10,000 0 0 Reserve Fund .. .. 5,000 0 0 Appropriation for unpa ; d losses .. 23,415 0 0 Deposits .. .. .. 14,400 0 0 Balance .. 19.283 1 11 Total .. £397,095~l 11 Cr. £ s. d. By Investment .. .. .. 351,952 5 3 Fire and Marine premiums due . . 1,842 15 3 Interest and rents due .. .. 2,866 9 2 BIHb receivable .. .. 1,07 ft 14 U .Branches .. .. .. 0 17 10 Furniture, fire-engines,- &c. .. 1,313 1 7 Caeh in bank and on hand .. ll,0S» 17 1 Totnl .. .. ..^307.008 1 U The directors and auditors were re-elected, and votes of thanks were passed to the directors and officers.