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Eevenue Account of the Government Life Insurance Department for the Year ended 31st December, 1887. £ s. a. ; £ s. d. £ s. d. Amount of Funds (Ordinary and Indus- j Death claims under policies, trial) at 31st December, 1886 .. 1,231,957 14 11 Assurance, including bonus Renewal premiums — Assurance, An- additions .. .. .. 59,973 9 0 nuity, and Endowment .. .. 174,163 2 3 Endowment Assurances maNew premiums on 3,113 policies, assuring tared, including bonus ad£766,952 2s. 4d., and yielding an annual ditions .. .. .. 3,462 3 0 revenue of £22,061 3s. 9d. (including Endowments matured .. .. 800 0 0 instalments of first year's premium i Bonus on claims paid in 1886 .. 1,562 0 0 falling due in the year) .. .. 20,08114 0 ' Bonus surrendered for cash .. 30,305 5 3 Single premiums—Assurance and En- : Annuities .. .. .. 3,834 8 0 dowmont.. .. .. .. 4,583 12 6 j Surrenders .. .. .. 25,081 511 Consideration for annuities granted .. 3,075 19 3 Commission, new .. 8,348 1 5 Interest .. .. .. .. 66,380 11 „ renewal 1,222 3 11 Fees .. .. .. .. 87 17 4 . 9,570 5 4 Property-tax .. .. .. 4,502 3 2 Expenses of management,— Salaries—Head Office 10,273 19 0 „ Branch Offices and Agents 5,278 18 2 Extra clerical assistance 910 5 2 Medical fees .. .. 3,706 2 1 Travelling expenses .. 2,345 8 4 Advertising .. .. 543 15 2 Printing and stationery 1,743 17 8 Rent .. .. 1,423 5 2 Postage .. .. 1,001 2 6 Telegrams .. .. 742 6 1 Exchange .. .. 159 14 1 Office furniture depreciation .. .. 288 11 7 General expenses .. 1,531 2 3 Quinquennial expenses 2,343 14 1 Compensation for loss of office .. .. 447 14 2 32,745 15 6 Amount of funds at 31st December, 1887 1,328,493 6 2 £1,500,330 1 4 £1,500,330 1 4

Balance-sheet of the Government Life Insurance Department on 31st December, 1887. Liabilities. £ s. d. Assets. £ s. d. Total Assurance, Annuity, and Endow- Loans on policies .. .. .. 185,387 9 3 ment Funds (as per Revenue Account) 1,328,493 6 2 Government securities .. .. 586,100 0 0 Claims announced not paid .. .. 10,130 13 0 Railway debentures (guaranteed by GoSurrenders .. .. .. .. 6 8 5 vernment) .. .. .. 79,850 0 0 Annuities .. .. .. .. 163 13 0 Municipal Corporation debentures .. 71,572 0 0 Commission (new) .. .. .. 1,866 18 8 County securities .. .. .. 1,000 0 0 Medical fees .. .. .. 778 11 6 Otago University debentures .. .. 15,000 0 0 Postage .. .. .. .. 250 0 0 Harbour Board debentures .. .. 10,000 0 0 Property-tax .. .. .. 2,603 1 1 Landed and house property .. .. 90,035 18 9 Mortgage on property taken over by the Office furniture (Head Office and Association not yet paid .. .. 10,000 0 0 Agencies) .. .. .. 2,499 18 2 Premium deposits .. .. .. 3,085 7 3 Mortgages on property .. .. 266,498 7 0 Valuation-fee deposits .. .. 15 5 0 Overdue premiums on Fire-insurance moneys in suspense .. 7,948 8 0 policies in force .. £7,743 19 5 Outstanding premiums due in December, 1887 17,314 12 5 ■ 25,058 11 10 Interest outstanding .. 1,135 7 0 Interest accrued not due 14,141 9 1 15,276 16 1 Agents' balances .. .. .. 959 11 10 Sundry accounts owing .. .. 428 9 9 Cash on current account .. .. 15,174 4 11 £1,364,841 7 7 £1,304,841 7 7 Government Insurance Office, 31st March, 1888. D. M. Luckie, Commissioner. Audited and found correct. James Edward FitzGerald, Controller and Auditor-General.