COMMERCIAL.

Otago Witness, Issue 1987, 24 March 1892, Page 22

COMMERCIAL.

At the annual meeting of tie Timaru Milling Company the report stated that the" balance at credit of profit and loss account amounts to L 3249 2s 3d, out of which the directors propose to pay a dividend of 10 per cent., absorbing LlllO 2s, leaving L 2139 0s 3d, to carry forwardto next year. The report was adopted. Retiring directors Messrs 0. Bowker, J. King, A. Martin, and S. F. Smithson were re-elected.

The Railway Commissioners notify that timber from Springburn to Tinwald and Ashburton will be charged 6d per 100 superficial feet less than the classified rates in class K.

A Sydney cablegram states that dairy-made butter is at lOd ; factory-made, Is. ■ Mr S. Parmenter, licensee of the Ship Hotel at Timaru, is bankrupt. His liabilities are L 1124, and assets L3l.

.We have received the annual report of the directors of the Mutual Life Association of Australia.'from which it appears that 2358 policies ware issued during the year for L 553.78 1105. The policies now in force number 17,344, amounting to L 4,373,673 4s 2d, producing an annual premium income of L 149,858 17s lid. The annual income on investments is L 50.211 17s Id, making the yearly income over L 200.000. Reference is made to the success of the policy of economy, the reduction in the outgo of surrenders and the favourable mortality experience.