COMPANY NEWS
SOUTH BRITISH INSURANCE SLIGHT IMPROVEMENT IN DIVIDEND (United Press Association) AUCKLAND, October 27. “As you will gather from a further rise of more than £160,000 in premium income, business has been fairly active during the year and although we had to sustain some hard knocks in different parts of the world we emerged with a reasonably good surplus in the underwriting account,” said Mr W. R. Wilson, chairman of directors, at the annual meeting of shareholders of the South British Insurance Company. The chairman said the expenses of £316,339 were higher by nearly £23,000 than the previous year. A sum of £BO,OOO half of the increased income from premiums had been added to the reserve for risks not yet expired, leaving £102,163 surplus in the underwriting account. The directors recommended the payment of a final dividend of Bjd a share, making a total of 1/5 for the year. This was slightly better than last year. They also recommended a 5 per cent, staff bonus on the year’s salaries. The retiring directors, Messrs P. H. Upton and S. Austin "arr, were reelected. A vote of thanks to the directors and staff was passed.
SYDNEY PRODUCE MARKETS (Received October 27, 9.35 p.m.) SYDNEY, October 27. Business was restricted on the wheat market, with an easier tone, but there was no selling pressure. New season’s grain is coming forward and a heavy yield is assured. Quotations: Wheat.—Silo grain, 2/9J a bushel; bagged, 3/2. Flour.—£B a ton. Bran and pollard.—£s 10/- a ton. Potatoes. —Tasmanian, £l7 a ton; others, £5 10/-. ' Onions.—Brown, £l4 a ton; white, £lO. Maize.—Yellow, 4/9 a bushel; white, 4/7. THE WOOL MARKET STRONG COMPETITION AT SYDNEY (Received October 27, 9.35 p.m.) SYDNEY, October 27. Under strong competition from the Continent and Yorkshire the wool sales closed at the best point of the week for good to super wools. The latter showed a distinct hardening tendency, but the demand for inferior sorts was irregular. Greasy" Merino made up to 19|d, the highest for the season. The offering was 11,723 bales, of which 11,050 were sold, also 1210 privately.
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https://paperspast.natlib.govt.nz/newspapers/ST19381028.2.12
Bibliographic details
Southland Times, Issue 23651, 28 October 1938, Page 3
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349COMPANY NEWS Southland Times, Issue 23651, 28 October 1938, Page 3
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