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IV''to the control of the State Fire Office in 1910. At the close of the year 1909 the te*st"income of the Office amounted to £35,479 lis. 5d., and there was a deficit on Profit and Loss Account of £1,441 9s. 6d. This, my last balance-sheet, shows a net income of £150,072 12s. 5d., and a net profit of £296,566 13s. 7d., after paying over £82,000 in income-tax for the last five years. I wish also to place on record the high standard of efficiency attained by the staff and the splendid loyalty accorded me at all times, and to commend specially their very fine efforts and sacrifices during the war period, when 65 per cent, of their comrades were serving in the fighting-line. C. R. C. Robieson, General Manager. STATE FIRE INSURANCE OFFICE. Revenue Account for the Year ended 31st December, 1921. £ s. d. £ s. d. Premiums after deduction of reinsurances .. 136,428 12 4 Losses by fire (after deduction of reinsurances) 38,125 13 5 Other receipts—lnterest, commission, and rent 13,644 0 1 Appropriated to reserve for unearned premiums (in addition to £49,815 4s. lOd. already reserved) .. .. .. 4,756 4 2 Government taxes .. .. .. 24,473 10 0 Commission .. .. .. .. 9,379 14 2 Salaries .. .. .. .. 20,699 2 0 Contributions to Fire Boards under the Fire Brigades Act, 1908 .. .. .. 3,212 10 .'! Expenses of management— £ s. s. Travelling-expenses .. 2,387 010 Printing, stationery, and advertising .. .. 1,873 9 6 Rent .. .. .. 1,216 10 2 Exchange .. .. 131 3 10 Postages, telegrams, cablegrams, and sundry charges 2,800 16 8 — 8,409 1 0 Investments Fluctuation Reserve Fund .. 1,000 0 0 Office premises and equipment written off .. 692 6 1 Amount of Fire Insurance funds at end of year 39,324 11 4 £150,072 12 5 £150,072 12 5 Balance-sheet on the 31st December, 1921. Liabilities. Assets. £ s. d. £ s. d. £ s. d. Government war-loan securities .. .. 138,324 12 0 Capital authorized by the Other Government securities .. .. 57,050 0 0 State Fire 'Insurance Act, Local-authority securities .. .. 4,800 0 0 1908 .. .. .. 100,000 0 0 Fixed deposits and at short call .. .. 20,000 0 0 Less not raised .. .. 100,000 0 0 Mortgages on property .. .. .. 2,970 10 0 Nil. £ s. d. Reserve Fund .. .. .. .. 257,242 2 3 Land and buildings .. 116,916 8 7 Investments Fluctuation Reserve Fund .. 10, OCX) 0 0 Less mortgages taken over Reserve for unearned premiums .. .. 54,571 9 0 on Office premises purPremiums and other deposits .. .. 649 18 2 chased .. .. 6,225 0 0 Outstanding fire losses ■.. .. .. 2,565 0 0 110,691 8 7 Government taxes .. .. .. 24,261 7 1 Office equipment .. .. .. 1,019 9 3 Interest accrued but not due on mortgages .. 64 3 3 Outstanding premiums .. .. .. 8,186 12 0 Other amounts owing by the Office — Interest accrued but not due .. .. 2,462 6 0 Reinsurance premiums due 14,274 10 11 Cash in bank of New Zealand Commission .. .. 1,659 18 9 at Wellington, or in transit £ s. d. Rent .. .. .. 19 10 10 to Wellington .. .. 59,205 8 6 Printing, stationery, and Imprest Account balances— advertising 41 8 6 £ s. d. Postages and sundry charges 627 9 4 Head Office .. 3 811 — 16,622 18 4 Auckland .. 7 7 1 Fire Insurance funds, as per Revenue Account 39,324 11 4 Christchurch .. 307 5 6 Dunedin ..155 5 0 Palmerston N. 38 9 5 New Plymouth 79 7 2 591 3 1 59,796 11 7 £405,301 9 5 £405,301 9 5 C. R. C. Robieson, 14th February, 1922. General Manager. I hereby certify that the Revenue Account and balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the. position as disclosed thereby.—G. F. C. Campbell, Controller and Auditor-General.

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