INSURANCE

Wanganui Chronicle, 5 March 1901, Page 2

INSURANCE

ANNUAL MEETING.

(Per Press Asaociatiott.)1

DUNEDIN.

MarcTi 4.

At the annual meeting o£ *he Standard Insurance Company the report, declaring' a dividend of 7i per cent, and a bonus of 2£ per cent, was adopted. . Mr Reid (chairman) in moving the adoption said they were in a position to place' £5000 to the reserve fund, which will tuen1 stand at £25,000 —the amount at which ifc stood before the great Melbourne fire,, which obliged them to fall back upon it_ This fund being restored to its former position the directors have seen their way to< recommend in addition to the half-yearly-dividend of 7£ per cent the payment of ai bonus of 2^ per cent. After these appropriations the paid-up capital and • reserves* will amount to £115,000, and carry forward to the credit of profit, and loss account £6692 12s 2d or rather over £1000* more than last year. The year had no# opened quite so favourably as last. Consid»ra,ble property in Australia and NewZealand had been destroyed by fire. The* company had had its share, but at the same time it was fortunate. The premium income exceeded! the previous by" £4706. The ratio of return from interestis 4.11 per cent. The losses were £29,----829. giving a ratio of 53.77. The outlook was very encouraging. He referred' with regret to the death of David Baxter,, who had been identified with the company since_ its formation, having served 27 years' as director. J. Reid and D. Haynes were' re-elected directors, and a minute recording' .ho death of D. Baxter was ordered to bY Lforwarded to the bereaved widow.