COMMERCIAL
The directors of the Canterbury Farmers' Co-operative Fire and Marine Insurance Association of New Zealand (Limited) report for the year ending 30th June that the revenue, including balance carried forward from the previous year, amounted to £13.793 0s lOd, and the expenditure £6618 16s 6d, leaving a sum of £7174 4si 4d to be dealt with. Provision has been made in the accounts for ail •unadjusted los&es. After appropriating a sum of £1500 to reinsure current risks and writing off £8 19s from freehold property account, a balance of £5665 5s 4d was available for distribution. Out of thi3 the diiectors recommend a dividend at the rate of 6 per cent, on paid-up capital, a bonus of 10 per cent, to shareholders who have not benefited from the reduction of 33 1-3 per cent, on their fir« business, and the transfer of £1000 to reserve, fund, the balance being carried forward to next year.
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Bibliographic details
Otago Witness, Volume 23, Issue 2684, 23 August 1905, Page 36
Word Count
155COMMERCIAL Otago Witness, Volume 23, Issue 2684, 23 August 1905, Page 36
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