NATIONAL INSURANCE COMPANY.

Thames Star, Volume VII, Issue 1980, 10 May 1875, Page 3

NATIONAL INSURANCE COMPANY.

The following is the report and financial statement for the sir months endingMarch 31, submitted to the shareholders itt the above company at the half-yearly-general meeting of the company, held in the City Council Chambers, Dunedin> this day, Monday, May 10, at-2 p.m. :— The directors, in submitting their third report and balance-sheet, hare pleasure in announcing continued prosperity and advancement in the affairs of the company both m New Zealand and its foreign agencies. £ s. d. The total receipts for the half year (including £5,586 8s 6d carried forward' from pro" ylous balance) are 43,865 5 5 Tho expenditure for same period has been 24,29111 8 lieaving for distribution the - iumof 19,573 14 2 Whioli your directors recommend should be appropriated as follows :— 1. By placing a further sum to ReiorTe Fund of (which Trill thee stand nt £30,000) 15,000 0 0 2. By payment of a dividend at the rate of 10 percent, on paid up capital, which Trill abiorb;..>:/.. 2,500 0 0 3. By carrying forward to next half year the balance 3,073 14 2 Provision has been made in the accounts fo.r £1,777, unadjusted losses at date of closing. books, also for reinsurances in Marine Department,. and all known liabilities.

The colony was visited lately, by .an epidemic in fires,; making large calls on the funds, of insurance offices... The moderate amounts hitherto authorised by your directors in the fire department saved the company from heavy loss. 2_ It .will devolve on the meeting to eleot j^V&pee directors in place of Mr Richard absent from the colony, and "W. j. M. Larnach and Bobert' Wttson,_ who retire in terms of articles of association. Messrs Larnach and Wilson are eligible for reflection,, and offer " themselves accordingly. The shareholders will also require to elect two auditors for the ensuing year. Messrs A; C. Begg and A. W-: Morrjs offer themselves for re-election, .Your directors again embrace this opportunity of tendering their hearty thanks to the shareholders andsupporters of the company for their help in bringing buiiness. If this is continued the company cannot fail to prosper and increase \U popularity both here and elsewhere. The dividend now recommended by the directors, if adopted by the shareholders, will be payable at the company's offices, Manse-street, Dunedin, on Monday, May 17, and at the several agencies on receipt of advice. By order of the Board. W. J. M. Labnach, 1 Chairman.