TURF ITEMS.

Taranaki Herald, Volume XXXII, Issue 6613, 21 November 1884, Page 2

TURF ITEMS.

[UEUTKII's COI'YRIGUT TELEGRAMS.] At an enquiry held at Adelaide into the protest lodged against Rufus for the V.R.C. Derby, it was shown that the horse was correctly nominated by the owner.

NATIONAL INSURANCE COMPANY. fPER PRESS ASSOCIATION.] The Annual Meeting of the National Insurance was held on Wednesday. The Chairman, in his address, said that the shareholders would no doubt be painfully aware that this was the second year that the Company had been forced to draw upon its standing revenue for the floating , reserve. The total drawn from the standing reserve was about £35,000, consequently the accounts the directors had to present to the shareholders were certainly not satisfactory. Still, however, he thought it far better that they should look matters straight in the face in that way, and discover and acknowledge to themselves that during the past two years they had lost large sums than to try to cover up the accounts either to themselves or to the public. There was one thing they could say with confidence that in the balance-sheet nothing was disguised. This year the dividend, 15 per cent., was only a shade under what the average dividend had been during the previous years of the Company's existence. He had no desiro to expose the weakness of the neighbouring companies, but all shareholders should look the evil fairly in the face. The strength of the National Insurance Company would enable them to take up the position he had indicated ; and if it was to become a case of bleeding to death, they should be one of the last companies in the colony to die. Mr. Shrimski, M.H.R., moved an adjournraent for a fortnight, in order that the directors might show the shareholders whether the losses had been incurred in New Zealand or elsewhere, but withdrew it. Mr. Esther complained that before the report was circulated, one or two shareholders got information of the state of the Company's business, and sold their shares. (Applause.) The adoption of the report was unanimously agreed to. Mr. Hocken moved, that Messrs. W. J. M. Larnach, R. Wilson, and A. Burt (the retiring directors) be re-elected. Mr. Shrimski said that it was useless to move an amendment, because the directors had sufficient proxies with them to carry the motion* (Hear, hear.) Next year, with a view of effecting an alteration, he get possession of some of the proxies.