The South British.

Observer, Volume XV, Issue 822, 29 September 1894, Page 2

The South British.

I h.vve on several occasions written iv strong condemnation of certain extravagances towards which the management of the South British Insurance Company were inclining, and therefore, I can all the more gracefully offer my congratulations now upon the balance-sheet which has just been prepared for presentation to the annual meeting of shareholders. The statement is one of progress and prosperity, and seems to justify the rapid increase which has taken place in the value of South British stock lately. The directors have recommended the payment of a dividend of 15 per cent — the highest for many years past — and this, too, after adding £29,295 to the accumulated funds, writing off £1,200, and carrying forward £6,239 to the new account. The shareholders are indeed to be congratulated, and Messieurs the Directors and General Manager Kirker deserve every credit for this admirable result.

The success of the South British is of consequence to the whole community. This concern is the only survivor left to us of the many large joint stock companies established by the people cf this city in earlier days. For a time, the South British was also in considerable danger, but it appears to have entered upon a new era of prosperity which it is to be hoped will, by prudent and thrifty management, be a long-continued one. ' Though the shareholders are receiving a very fair return this year, it must not be forgotten that many of these shares whose paid-up value is now £1 cost their owners three times that amount. Let us hope, therefore, that means will yet be found to restore some portion of the £1 per share capital that was written off at the time of th« crisis in the company's affairs.