H.—B

Revenue Account of the Government Life Insurance Department for the Year endßtl 31st December, 1898. £ s. d. £ s. d. Amount of funds at Ist January, 1898 2,725,105 18 3 Death claims under policies, Assurance, Renewal premiums — Assurance, An- including bonus additions .. .. 109,090 6 2 nuity, and Endowment .. .. 247,625 6 6 Endowment Assurances matured, inNew premiums (including instalments eluding bonus additions .. .. 60,806 4 0 of first year's premiums falling due Endowments matured .. .. 1,317 4 10 in the year) .. .. .. 22,052 3 4 Premiums returned on endowments .. 52 6 0 Single premiums—Assuranoe and En- Bonuses surrendered for cash .3,,,0.14.13. .5 dowment .. .. .. 953 12 2 Annuities .. .. .. .. 10,978 2 6 Consideration for Annuities .. .. 8,317 4 4 Surrenders.. .. .. .. 20,255 13 3 Interest .. >;. .. .. 131,187 19 2 Loans released by surrender.. .. 4,730 7 9 Fees '. ■ ■• •'•' •• 11 16 2 Commission, new ..£13,079 1 2 renewal .. 1,894 11 11 14,973 13 1 Land-and income-tax ... ~ 8,750 2 0 Expenses of management— fin 1 jlti n*" 1 . Head Office .. £11,249 7 9 V Branch offices and agents .. .. 6,267 15 9 Extra clerical assistance 1,470 15 3 Medical fees and expenses .. .. 5,077 10 6 Travelling-expenses .. 880 4 8 Advertising .. .. 834 18 5 Printing and stationery 1,195 17 9 Rent .. .. 2,318 16 5 Postage .. .. 1,548 8 3 Telegrams .. .. 550 10 9 Exchange .. .. 63 11 10 Office furniture depreciation .. .. 339 11 5 General expenses .. 2,472 14 4 Triennial expenses .. 830 14 0 35,100 17 1 Reserve for possible depreciation in freehold and mortgage securities .. 4,650 0 0 Amount of funds, 31st December, 1898 2,861,534 9 10 £3,135,253 19 11 £3,135,253 19 11

Balance-sheet of the. Government Life Insurance Department on 31st December, 1898. Liabilities. Assets. £ a. A. £ s. d. £ s. d. Total Assurance, Annuity, and En- Loans on policies .. .. .. 541,473 16 8 dowment Funds (as per Revenue Government securities— Account) .. .. •• 2,861,534 910 Consolidated stock .. 625,900 0 0 Claims admitted, proofs not yet com- Treasury bills .. 140,000 0 0 pleted .. .. .. .. 15,149 1 1 Railway debentures Annuities ".. .. •• .. 148 6 11 (guaranteed by GoCommission .. ... .. 614 1 2 vernment) .. 44,981 5 0 Medical fees .. .. .. 549 11 5 Debentures issued Premium and other deposits.., .. 3,474 0 0 under " The Native Fire-insurance moneys in suspense .. 50 0 0 Land Purohases Tontine Savings Funds .. .. 15,159 2 8 Aot, 1892" ... 15,000 0 0 Reserve for possible depreciation in Debentures issued freehold and mortgage securities .. 27,684 18 9 under " The Immigration and Public Works Aot, 1870" 1,976 9 7 827,857 14 7 Municipal Corporation debentures .. 106,780 17 10 County securities .. .. .. 1,000 0 0 Harbour Board debentures .. .. 42,548 11 6 Town Board debentures .. .. 500 0 0 Landed and house property .. .. 120,937 15 7 Office furniture (Head Office and agencies) .. .. .. 3,057 3 11 Mortgages on property .. .. 1,130,608 10 1 Properties acquired by foreclosure .. 19,769 16 8 Overdue premiums on policies in force .. 6,014 10 8 Outstanding premiums due but not overdue.. 31,620 4 7 37,634 15 3 Overdue interest .. 1,360 4 4 Outstanding interest duebut not overdue.. 4,070 13 4 Interest accrued but not due 35,600 11 7 41,031 9 3 Agents'balances .. .. .. 2,382 17 4 Sundry accounts owing .. .. 1,045 1 5 Cash in hand and on current aocount.. 47,735 1 9 £2,924,363 11 10 £2,924,363 11 10 Government Life Insurance Department, 14th February, 1899. J. H. Richardson, Commissioner W. B. Hudson, Audited and found correct. Secretary. J. K. Warburton, Controller and Auditor-General.

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