H.—B

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Revenue Account of the Government Life Insurance Department for the Year ended 31st December, 1903. £ s. d. I Death olaims under policies, Assurance, £ s. d. Amount of funds at Ist January, 1903 3,382,817 6 8 1 including bonus additions .. .. 117,414 10 0 Renewal premiums — Assurance, An- Endowment Assurances matured, innuity, and Endowment .. .. 276,344 0 9 eluding bonus additions .. .. 75,100 8 0 New premiums (including instalments Endowments matured .. .. 1,923 18 8 of first year's premiums falling due Premiums returned on endowments .. 85 3 8 in the year) .. .. .. 23,462 5 2 Bonuses surrendered for cash .. 12,349 12 6 Single premiums—Assurance and En- Annuities .. .. .. .. 12,236 1 11 dowment .. .. .. 2,558 13 8 Surrenders .. .. .. 31,252 3 2 Consideration for Annuities .. .. 8,657 14 11 Loans released by surrender .. .. 19,050 11 1 Interest .. .. .. .. 152,352 17 2 Commission, new £14,68114 0 Pees . 4 0 6 „ renewal 2,185 7 7 16,867 1 7 Land-and inoome-tax .. .. 9,524 2 8 Expenses of management— Salaries — Head Office .. £11,471 13 11 Branoh offioes and agents .. .. 6,195 9 11 Extra olerical assistance 1,506 9 0 Medical fees and expenses .. .. 4,850 18 4 Travelling-expenses .. 740 1 7 Advertising .. .. 1,202 510 Printing and stationery 1,094 13 8 Rent .. .. 2,175 0 0 Postage .. .. 1,429 10 2 Telegrams .. .. 414 0 6 Exchange .. .. 89 13 7 Office-furniture depreciation .. .. 313 5 0 General expenses .. 2,951 18 0 Triennial expenses .. 3,630 11 8 Compensation for loss of offioe.. .. 266 12 3 38,332 3 5 Amount of funds, 31st Deoember, 1903 3,512,061 2 2 £3,846,196 18 10 £3,846,196 18 10

Balance-sheet of the Government Life Insurance Department on 31st December, 1903. Liabilities. Assets. £ s. d. £ s. d. £ s. d. Total Assurance, Annuity, and En- Loans on policies .. .. .. 618,189 13 9 dowment Funds (as per Revenue Government securities— Account) .. .. .. 3,512,061 2 2 Consolidated stock .. 625,900 0 0 Claims admitted, proofs not yet com- Railway debentures pleted .. .. .. .. 25,719 3 0 (guaranteed by GoAnnuities .. .. .. .. 24 13 11 vernment) .. 40,000 0 0 Commission .. .. .. 64 4 8 Debentures issued Medical fees .. .. .. 489 4 6 under " The ImmiPremium and other deposits.. .. 7,892 13 6 gration and Public Tontine Savings Fund No. 2 .. 7,452 6 9 Works Act, 1870" 2,036 6 7 Investment Fluctuation Reserve .. 56,595 2 8 667,936 6 7 Municipal Corporation debentures .. 100,103 2 4 County securities .. .. .. 722 5 3 Harbour Board debentures .. .. 39,000 0 0 Town Board debentures .. .. 500 0 0 Landed and house property .. .. 123,579 17 8 Office furniture (Head Office and agencies) .. .. .. 2,703 4 10 Mortgages on property .. .. 1,886,573 12 3 Properties acquired by foreclosure .. 1,033 1 2 Overdue premiums on policies in force .. 4,606 0 9 Outstanding premiums due but not overdue.. 36,395 10 7 41,001 11 4 Overdue interest .. 414 13 1 Outstanding interest due but not overdue.. 5,239 4 2 Interest aoorued but not due .. .. 43,108 19 8 48,762 16 11 Agents'balances .. .. .. 3,073 19 7 Sundry accounts owing .. .. 3,630 0 4 Cash in hand and on current account.. 73,488 19 2 £3,610,298 11 2 £3,610,298 11 2 Government Life Insurance Department, 14th March, 1904. J. H. Richardson, Audited and found correct. Commissioner. W. B. Hudson, J. K. Warburton, Secretary. Controller and Auditor-General.