COMMERCIAL

Poverty Bay Herald, Volume LXI, Issue 18585, 20 December 1934, Page 10

COMMERCIAL

QUEENSLAND INSURANCE BONUS IS/3UJ3 QF ONE IN TWO The directors of the Queensland Insurance ‘Company, Limited, have decided to place before shareholders proposals to increase the capital of the company from £500,000 to £750,000. The increase will be effected by a bonus issue of shares to shareholders in the .proportion of one new share :l'of ‘ every two shares at present held. The reserve fund of the company is £450,000. The new iistte, -while increasing tlm capital by £250,000, will decrease the fund by a like amount lo £2oo*ooo. In addition, there is a reserve ..fund of £310,000 for unexpircci risks. .Details of the proposal to capitalise £250,000 of reserves are contained in a circular to shareholders. It is proposed to capitalise the .following sums out of nccnmulated profits derived during the years ended September. 30: —1920, £40,000; 1921, £30,000; 1922, .£28)000-; 1023, £25)000; 1924/ £20,000; 1925, £25,000.; 1927, £25,000; 1028, £25,000.; 1930, £30;000, 1931, £10)000; .1932, £15)000; total, £250,000. This amount, It Is sitggested should be distribUtml tojahurcholders in the form of a -bonus. issue of 250)000 £1 shares, in the proportion of oftc shale fm every -two held. v ,