NEW ZEALAND INSURANCE COMPANY.

Wellington Independent, Volume XXII, Issue 2632, 6 February 1868, Page 10

NEW ZEALAND INSURANCE COMPANY.

FOURTEENTH EBPOBT OP THB DiBBOTOBS. At the general meeting of proprietors, held pursuant to the 40th Olause of the Articles of Association, on the 15th January, 1868, at the Company's Offices, Queen street, Auckland, the following reporb was presented : — EEPOBT. The Direotors have the pleasure to submit to the Shareholders the annexed statement, showing the position of the Company's affairs on the SOth November, 1867. The receipts from all sources, including the balance brought forward from the last half-year, amount to £26,999 5s 7d, and the sum appropriated for losses, expenses, &c, to £19,502 5s Od, leaving a balance of £7,497 Os 7d available for division. The Directors propose to pay a dividend of 5 per cent for the half-year. Ifc will be in the recollection of the Shareholders thafc unusually heavy losses during the half-year endißg SOth November, 1866, compelled the Directors lo withhold, for the first time, the usual dividend -which this Company haa paid, bufc a promise waa then made that under more favorable circumstances the Directors would recommend payment of fchafc arrear. The Directors have now the pleasure of deolaring a bonus of 5 per cenfc. on tbe paid-up capital of the Company in lieu of the dividend referred to. There will remain the Bum of £1997 Oa 7d to carry forward to the nexfc half-year. The dividend and bonus will he payable at the Head Office of fche Company pn and after 17th instant, and at the branches on receipt of advice. Throe of the present Directors, Messrs Williamson, Browning, and Owen, retire by rotation, and, being eligible, offer themselves for re-election. For the Board of Directors, Samuel Bbotvning, Deputy Chairman.

Statement op Accounts joe thb Half-yeab Endino Novembee 30, 1867. PBOFIT and loss. Dr. To expenses ... ... ... 8,225 16 9 „ Fire and marine losses ... 15,713 8 3 „ Depreciation of property ... 563 5 0 » Balance ... 7,497 0 7, £26,999 5 7 Cr. By balance from last half-year ... 2,455 2 4 „ Fire and marine premiums ... 21,650 10 0 „ Interest 2,525 10 1 „ Stock transfer fees • 9 11 0 „ Bad debts recovered ... ... 358 12 2 £26,999 5 7 BALANCE SHEET. Dr. To capital 55,000 0 0 „ Reserve fund 12,371 1 7 „ Dividend unpaid 41 16 0 „ Appropriation for fire and marine losses 5,000 0 0 „ Suspense account ... ... 1,996 17 6 „ Branches ... ... ... H6 19 9 „ Profit and loss 7,497 0 7 £82,023 15 5 Cr. By investments 74,209 14 5 „ Fire and marine premiums due 389 14 0 „ Interest 1,877 1 3 „ Bills receivable 546 0 0 „ Furniture ... ■ 520 7 9 „ Cash on hand and in bank ... 3,462 16, 10 „ Due by branches 1,518 1 2 £82,023 15 5 The auditors have examined the books and accounts of the Company for the half-year ended 30th November, 1867, and have to report that the Balance Sheet now presented to the shareholders ia a full and fair balance sheet, and ex;> hibits a true and correct statement of the affairs of the Company, with the exception of the Picton Agency return for the quarter ended Slst October, 1867, received subsequently to the closing of tho accounts. Geoboe Fkaseh, H. N. Wabneb, Auckland, January 14, 1868. Auditors