3

H.—B

Bevenue Account of the Government Life Insurance Department for the Year ended 31st December, 1894. £ s. d. £ s. d. Amount of Funds at 31st December, 1893 2,128,589 18 0 Death claims under policies, Assurance, Renewal premiums — Assurance, An- including bonus additions .. .. 88,682 17 0 nuity, and Endowment .. .. 219,307 0 5 Endowment Assurances matured, ineludNew premiums (including instalments ing bonus additions .. .. 24,117 9 0 of first year's premiums falling due in Endowments matured .. .. 1,168 0 10 the year) .. .. .. .. 20,675 910 Premiums returned on endowments .. 65 7 2 Single premiums—Assurance and En- Bonuses surrendered for cash .. .. 17,008 7 5 dowment.. .. .. .. 2,441 911 Annuities .. .. .. .. 7,460 11 3 Consideration for annuities .. .. 11,779 15 0 Surrenders .. .. .. .. 21,400 7 3 Interest .. .. .. .. 115,270 710 Loans released by surrender .. .. 18,203 15 4 Fees .. .. .. .. 4 510 Commission, new .. £13,092 5 1 renewal .. 1,533 17 5 14,626 2 6 Land-and income-tax .. .. 5,916 19 10 Expenses of management—■ Salaries—Head Office £9,965 16 0 „ Branch Offices and Agents 5,303 5 11 Extra clerical assistance 1,507 14 7 Medical fees and expenses 4,838 6 4 Travelling-expenses 798 8 7 Advertising .. 948 14 5 Printing and stationery 1,511 6 5 Rent .. .. 2,116 7 6 Postage .. .. 1,813 8 7 Telegrams .. .. 469 3 4 Exchange .. .. 52 7 2 Office furniture depreciation .. .. 456 8 11 General expenses .. 2,720 8 3 Triennial expenses .. 2,472 5 1 Compensation for loss of office .. .. 205 3 3 35,179 4 4 Amount of funds at 31st December, 1894 .. .. .. 2,264,239 4 11 £2,498,068 610 , £2,498,068 610

Balance-sheet of the Government Life Insurance Department on 31st December, 1894. Liabilities. £ s. d. Assets. £ s. d. Total Assurance, Annuity, and Endow- Loans on policies .. .. 405,166 15 11 ment Funds (as per Revenue Account) 2,264,239 4 11 Government securitiesClaims admitted, proofs not yet com- Consolidated stock ..£680,079 0 0 pleted .. .. .. .. 15,985 16 4 Treasury bills .. 140,000 0 0 Annuities .. .. .. .. 3 10 10 Debenturesissued under Commission .. .. .. 1,077 011 "The Government Medical fees .. .. .. 578 11 0 Loans to Local Bodies Premium and other deposits .. .. 4,034 1 1 Act, 1886" .. 10,000 0 0 Fire-insurance moneys in suspense .. 50 0 0 Railway debentures Tontine Savings Funds .. .. 6,002 8 8 (guaranteed by GoReserve for possible depreciation in free- vernment).. .. 79,906 5 0 hold and mortgage securities .. 43,000 0 0 Debentures issued under " The Native Land Purchases Act, 1892" 15,000 0 0 Debentures issued under " The Immigration and Public Works Act, 1870" .. 1,938 3 4 926,923 8 4 Municipal Corporation debentures .. 105,244 3 0 County securities .. .. .. 1,000 0 0 Otago University debentures .. .. 15,000 0 0 Harbour Board debentures .. .. 49,000 0 0 River Board debentures .. .. 935 0 0 Town Board debentures .. .. 500 0 0 Landed and house property .. .. 127,61114 7 Office furniture (Head Office and Agencies) 3,993 5 2 Mortgages on property .. .. 517,079 18 11 Properties acquired by foreclosure .. 34,413 15 7 Overdue premiums on policies in force .. £5,756 9 6 Outstanding premiums due in December, 1894 30,260 19 0 36,017 8 6 Interest outstanding .. 2,840 5 7 Interest accrued, but not due .. .. 27,081 11 0 29,921 16 7 Agents'balances .. .. 3,058 9 7 Sundry accounts owing .. .. 1,417 13 6 Cash on current account .. .. 77,687 4 1 £2,334,970 13 9 £2,334,970 13 9 Government Life Insurance Department, Bth March, 1895. Josephus H. Eichardson, Commissioner. Audited and found correct. W. B. Hudson, Secretary. James C. Gavin, Assistant Controller and Auditor.