NEW ZEALAND INSURANCE COMPANY.
ANNUAL MEETING,
(BY TELEGRAPH.— OWN CORREBPONDKNT). Auckland, Last Night. ( At the New Zealand Insurance Company's meeting to-day, the report stated that the directors regret having to report an unexpected depreciation iu the value of the company's investments during the past year. The balance at the credit of the profit and loss accoutit after paying 12$ per cent dividend would have been sufficient to cover the shrinkage, but the directors are of opinion that the whole of it cannot fairly be charged to one year's earnings, and they accordingly recommend that in addition to the £10,000 appropriated from the profits of last year, the sum of £15,000 should be advanced from the reserve fund to the investment flnctnation account. After writing off from this account all the ascertainable there will remain, in your directors' opinion ample provision for every possible contingency. The report was adopted. Messrs Rose and J. Russell were ra-elected as auditors, and Messrs Boardman and Waytnouth as directors for the present year,
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Bibliographic details
Waikato Times, Volume XXXVIII, Issue 3042, 14 January 1892, Page 2
Word Count
168NEW ZEALAND INSURANCE COMPANY. Waikato Times, Volume XXXVIII, Issue 3042, 14 January 1892, Page 2
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