NEW ZEALAND INSURANCE COMPANY.
AUCKLAND. February 9.
The balance sheet of thp New Zealand Insurance Company for the year ended November, 1906, has been published. It appears that the net income from premiums invested and rents was £594,370, tho underwriting profit, after deducting tho San Franei>co conflagration losses, being £89,038. The San Francisco conflagration losses amounted to £285,694, which is all charged to the profit and loss account. In order to liquidate the=e leases transfer of £120,485 have been made to the credit of the profit and lo«s account from the reserve fund and of £45,000 from other special reserves, leaving a credit balance of £17,758 to carry forward. It is proposed to pay a dividend of 2s per share, absorbing £12,500, out of the amount carried forward.
Cork, although the most buoyant substance, will not rise to the surface again if sunk 200 ft deep in the ocean, owing to the great pressure of the water. At any les3 depth it will gradually work its way back to light.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/OW19070213.2.226
Bibliographic details
Otago Witness, Issue 2761, 13 February 1907, Page 60
Word Count
170NEW ZEALAND INSURANCE COMPANY. Otago Witness, Issue 2761, 13 February 1907, Page 60
Using This Item
Allied Press Ltd is the copyright owner for the Otago Witness. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence. This newspaper is not available for commercial use without the consent of Allied Press Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in