WELLINGTON.

Poverty Bay Herald, Volume VI, Issue 685, 26 April 1879, Page 2

WELLINGTON.

This Day. •The schooner Colleen Bawn has been wrecked at Otaki, where she was loading iron from the wreck of ,the City of Auckland. The members of the Wellington Fire Brigade have received by the barque May Queen a consignment of new plant for which they sent to London some months ago. Amongst other articles received there is a new dress m which a man may go into the middle of a burning building without running any risk of being smothered by smoke. It is said the insurance agents are going to increase the support of the brigades. The City Council have agreed to take over charge of the Wellington Hospital. The Post Office Savings Bank returns for the quarter ending March 1879, show that the deposits were £259,682 18s. lid. against £192,649 11s. Id. m the corresponding quarter of last year, while the withdrawals were £268,840 Id. Id. as against £186,530 15s. 3d. for the correeponding quarter of last year. The excess of deposits over withdrawals m the March quarter were £842 17s, as against £6118 15s. lOd. m the same quarter of last year. A water rate of 5 per cent, and 2£ per cent, and a quarter of rate 2s 6d. m the £ was struck at last night's meeting of the City Council. The secretary of the Sydney Exhibition commission has a copy of the first issue of the Victoria Times, dated Wellington, September 15th 1841. It is folio demy m size and was published at Is. per copy, At the first annual meeting of the Colonial Insurance Company held today, the chairman (Hon C. J. Pharazyn) m moving the adoption of the report remarked that the institution being a colonial one its success was a general public benefit, and as such he commended it to insurers. Competition had become very keen throughout New Zealand, still the results were very satisfactory. He then recapitulated facts, the balance sheet and investiments of the Company were first class securities bearing good interest, and due provision had been made to meet any possible reverses the Company might sustain. The offices of the Company were more selected for their thorough knowledge of details of their respective trusts. The business of the Company was increasing and the directors confidently looked forward to success. The income from premiums amounted to £32,988 19s 6d and interest on investments and transfer fees made together were £2291 10s lOd. The losses had been heavy and amounted to £9,036 6s lid. After deducting Josses commission and re-insurance the amount to the credit of the Company was £11,072 13s 7d, from which it was decided to deduct the whole preliminary expenses incurred m formation of the Company,including books and stationery, leaving a balance to credit of profit and loss account of £6719 14s 4d, the whole of . which would be carried to profit and loss, new account. It was intimated when the Company was formed that 10s per share would be called up, but yet only 7s 6d had been required. It was intended at any early date to call up the remaining 2s 6d. The report was unanimously adopted.