NEW ZEALAND INSURANCE.

Auckland Star, Volume I, Issue 296, 21 December 1870, Page 2

NEW ZEALAND INSURANCE.

lIALF-Y EA. RLY M EETING.

THIS DAY

The usual half-yearly meeting of the New Zealand Insurance Company was held at the office, this afternoon, at 2 o'clock; T. Russell, Esq, in the chair, in the absence of the President, J. Williamson, Esq. The following report was read and adopted:—

Twentieth Report of the Directors of the New Zealand Insurance Company, for the Ifalf-Year ending November 30, IS7O, presented at the General Meeting of Shareholders, held at the Company's Offices, on Wednesday, December 21, IS7O. The Directors have the satisfaction of submitting to the Shareholders the result of the operations of the Company for the last half-year. After adding t:i per share to the paid-up Capital, and providing for all known losses and averages, the Nett ijrofit, on the.'JOthNovember,amounts t0.C11,1875 15s ZdV The directors have declared the usual dividend of 10 per cent, per annum on the present paid-up Capital of £25 per Share, which will absorb t*:*,l2s, and leave ,t8,7.*i0 1 _* 2d to he carried forward t<> I'rolit and Loss New Acccauit. The SltaiSEholdevs have now to elect two Directors in tiie plarfe of Messrs. .lames Williamson and Samuel lirowning, who retire by rotation, hut are eligible for re-electio_jftnd offer themselves accordingly. The Div?jSnd will be payable at the Head Office tomorrow, tlje 22nd December, and at the Brandies on receipt of advice. For tlii Board'bf Directors, " ; i Jameh Williamson-, '■ Chairman. Statement of Accounts for the Half-Year ending i November 80, 1870. ".PROFIT AN l> LOSS. l)n. ; £ «• ••• To Dividend last Half-year .. .. 2,750 0 0 „ Addition to Reserve Fund last Halfyear • r',<™o 0 0 „ Vire and Marino Losses 1(i,254 1"> 10 ~ Commission Expenses, &c 5,051 18 '.' ~ Appropriation for I'iru and Marine Losses (to be paidl 0,000 0 0 „ Addition to Capital, of _3 per share.. 7,500 0 0 „ Balance .. 11,875 15 2 £53,002 9 0 Cit. £ »• r>By Balance from last Half-year .. .. 13,820 30 5 ~ Fire and Marine Premiums .. .. 31,207 2 5 „ Interest, Transfer Pees, &c 4,430 14 5 „ Appropriation for Unpaid Losses, last llalf-vear 8,570 0 o „ Bad Debts Recovered 18 10 (i £58,002 0 0 Balance Sheet. Dr. C s. d. To Capital 02,500 0 0 „ Reserve Fund 25,000 0 0 „ Reinsurance Fund 10,000 0 0 ~ Debts due by Company 273 0 0 „ Losses Sustained {not yet paid" .. 0,000 0 0 ~ Due Branches .. .. .. .. 04 14 4 „ Profit and Loss 11,875 15 2 £118,743 15 0 Or. £ f- D. By Investments 105,880 9 8 Fire and Marine Premiums and Interest due 3,148 18 5 „ Bills Receivable 822 13 0 ~ Furniture, Fire Engines, &c. .. .. 4SS 14 4 „ Cash in Bank of New Zealand .. 004 IS 8 ~ Branches owing .. .. .. .. 7,708 1 5 £118,743 15 0 The Auditors have examined the hooks and accounts of the Company for the Half-year ended 30th November, and have to report that the Balance Sheet now presented to the Shareholders is a full and fair Balance Sheet and exhibits a true and correct statement of the affairs of the Company. George Phaser.. ") A ...i:* , H. N. Warner, | Aw™°™Auckland, December 20, 1870.