NEW ZEALAND INSURANCE CO.

Auckland Star, Volume XXXVI, Issue 31, 6 February 1905, Page 3

NEW ZEALAND INSURANCE CO.

AN3JTTAL REPORT AND BALAKCE- { SHEET. The following is the New Zeatend Insurance Company's 66th annual report and balance-sheet, to be presented at the gEneral meeting- of shareholders to be held at the company's office. New Zealand Insurance Buildings, on Wednesday next* the Sth inst:— The directors hare pleasure in presenting to the shareholders the accounts of the company, as at. November 30, 1304. £. 3. d. The fixe and marine premiums, after deducting returns and re-rnsaranees, amount to ■ 420,3111* 9 (Being , an excess upon the previous year of £19,6W 0/6) The profit on the year's transactions, after making full provision for all ascertained losses to November 30. amounts to £72.070 13 11 The balance brought for- | ward from 1903. after payment of dividend in January, 1904 24.448 13 9 £96,519 7 8 Deduct interhn dividend paid in July last 15,000 0 0 Leaving an available balance at profit and loss account on November 30, 1904, 0f.... - £81,519 T 3 Prom which your directors recommend the following new appropriations— Pxyment of a dividend at I tlwj (rate of i 3/ per <3h-ire-£15.000 0 0^ Reserve fund 35,000 0 0 Re - insurance ! fond — 5,000 0 0 Balance carried forward to new account 2e,51J7 7 8 —£81519 C 8 Itessrs Thomas Bcddle and Arthm* >I. Myers retire from the Board., as provided for by the articles of association, but are eligible and offer tae-mseives for re-elec-tion. Messrs H. Giifillan, jun., and R. E. Isaacs again offer their "services as andiJ tOl'S. For the board of directors. ARTHUR H. NATHAN. Chairman. Statement of Accounts for the Tear ended November 30, 1304. PROFIT AND LOSS. Dr. £ s. d. £ s. d. To div4dend for the half year ended November 30. 1903 ... - 20.000 0 0 To dividend for the half year ended May 31. 1904 13,000 0 0 35,000 0 0 To commissions, salaries, and other expenses 99.425 11 1 To Government texes and payments to fire and _ maxine associations .... ID,lS*> 1* 'O To fire and marine losses and appropriation for unpaid losses 273,621 S 2 To transfer to reserve fund 35,000 0 0 To transfer to re-lusurance fund 5,000 0 0 To Balance 41.319 7 8 £499,732 4 4 Cr. £ 3. d. By balance at November 30, 1303 _ 44,448 13 9 By fire and marine premiums, less returns and. rpInsurances 420,311 14 0 By interest and rents 3~.019 0 3 By profit on sale of Argentine Paper Sonds 9,972 15 7 £499,752 4 4 BALANCE-SHEET. Dr. _ £ s. d. To capital 200,000 0 0 To res c r v c fond £200,000 0 0 To re-insur-ance fund.. 175,000 0 0 375,000 0 0 To investment fluctuation account — Amount last yea- 333 10 6 Less written off 241 18 1 91 12 5 To appropriation for unpaid losses 67,969 0 0 To sundry creditors and unearned premiums 62,281 9 10 To balance 41.519 7 S £74&861 9 11 Cr. £ s. d. By investments— Mortgages and snares 63,741 16 2 Company's freehold, office premises and other properties 222,961 6 11 Britisfc Coasols 53,240 0 0 New Zealand Government 4 per cent, debentures .. 75,000 0 0 United States 4 per cent. bonds 10.310 0 0 United States 3 -ocr cent, bonds 42,000 0 0 Argentine Government 4 per cent, gold beads ... n.: 28,686 18 T Cape of Good Hope 3* per cent, inscribed stock 9,500 0 0 Natal Colony Security Bank filed ueposit, 5 per cent 10,000 0 0 West Australian Government 4 per r«ant. debentures 10,000 0 0 Japanese Government 6 per cent, sterling bonds .. 10,156 13 0 Auckland Harbour Board 4 per cent, debentures 10,000 0 0 , Auckland City Council 4* per cent, debentures 5.000 0 0 Chri3tchurch. Gas Company 5 tier cent, debentures .. 400 0 0 ChristehiLTch Tramway Board 4i per cent, deben-"tm-es 25.000 0 0 FeiMing Borough 4J per cent. deben-t-res 900 0 0 New Plymouth Boron gh 4* per cent debentures 2.000 0 0 Other debentures 460 11 6 Piled deposits 55.726 5 4 638.088 11 6 By accrued interest and , rents 5,637 12 1 By branch and agency balances (£1613 19 3 By remittances in transitu 14.898 IS 2 By cash in banks ami in hand at head office and branches 25,fi22 811 £746,861 9 11 The accounts are audited by Mr H. Giifillan, jun-, and Mr R. E. Isaacs.