NEW ZEALAND MADE.

Press, Volume LXVI, Issue 20092, 22 November 1930, Page 12

NEW ZEALAND MADE.

TRADE MARK WANTED.

The manufacturers of New Zealand are seeking for n trade mark by which New Zealand-made goods may be readily and plainly recognisable in the markets of the world. To this end thev are offering substantial prizes for designs of a trade mark which meets with their approval. The nature of the design must bo such that it facilitates its to all classes of material It must oo suitable for stamping with a die or wood, metal or leather, while .t must also be capable of being woven into a fabric or printed letter-press. Som thine original is sought. Prizes of £lO los. to os and L will be awarded b.v the New Zealand Manufacturers' Federation for three best designs submitted. NEW ZEALAND LOAN AND MERCANTILE.

REVENUE ACCOUNT. (PRESS ASSOCIATION TELEOJIAiI.J WELLINGTON. November 21. The New Zealand Loan and Mercantile Agency. Company, Limited, has received a cablegram from its London Office intimating that the company will hold its annual meeting in London on December 4th. The revenue account shows tnat after paving taxes (£89.084)1 making provision for bad and doubtful debts, and charging debenture st°ck interest, there is a balance Interim dividends paid on the o per cent, cumulative preference stock ana on ordinary stock, together « a dividend on 6* per cent on n, ' la tive second preference stock for the year, plus dividends now pr°P°^. d ,.. be paid, will absorb £122,500. including th* amount brought f ; from last yei.r there will be LU.wcarried forward. The dividends nronosed are 011 a final dividend on the 5 per cent, cumulative preference stock of 2i pert - maltin-r 5 per cent, for the year, ana on ordinary stock, a final < l' v,dend " f 2 per cent, (makine 4 per cent for the vear). both 2s in the - respect of English income tax. NATIONAL INSURANCE COMPANY. ANNUAL MEETING. [THE PRESS Special Service.! DUNEDIN, November 21. The annual meeting of the National Insurance Company of New Zealand, Ltd., was held this afternoon. Mr John Moloney, chairman of directors, presided.

In his summary of the year's operations, the chairman said the accounts under review show that the past year ended with a surplus of £20.289 on the underwriting section of the company's business, which is a good return in these times of strenuous effort and depreciating values of properties and commodities. Directors of a composite insurance company such as the National should claim little if any credit for the production of premium incomes. The success of a company is in the hands of those who arc in its service subject to directions from and including an expert in the form of a general manager, and this net result indicates zealous attention to the details of the directing policy on the part of the staff, whose successful efforts have been recognised by the board in the payment of an increased bonus.

The underwriting account shows that net premiums amount to £260,445, being an increase of £7576 on the previous year's income. From this sum £3600 has been transferred to the reinsurance reserve fund, which at £IOB,IOO represents 41.5 per cent, of the net premiums for the year. The small decrease of £2OO in the return on investments (£35,464) is accounted for by the drop in rents from the company's properties in the Commonwealth. One of the most satisfactory items in the balance-sheet is a reduction of £36,150 in loans on mortgage. Some years ago this form of investment was regarded by your director# as one of the safest, insomuch that in the year 1916, the mortgage loan account stood at £343,640. Since that time repayments have reduced it to £60,578, almost all on properties in Otago and Southland, and this change has been effected with a loss of only £4OOO or a fraction over 1 per cent, on the total amount that had been advanced almost entirely on farm land. Underwriting losses, £146,964, are only £B5l greater than the previous year. Charges and bad debts are less by £2797, but Commonwealth and Dominion taxation, which is beyond the control of the directors, extracts £11,355 from the company's shareholders, against £6344 for the preceding year. A small shrinkage of £5515 on debentures is due to the maturing of some of this stock and the increase in Government loans to £410,697, and money, on deposit and with bankers, £95,075, accounts for the year's accretion in assets from £890,968 to £907,682. The net profit for the year amounts to £55,754 Is 2d, without the balance brought forward from 1929, making a total profit of £93,262. Out of this amount an interim dividend of 4d per share was paid in May last. Your directors now recommend the payment of a further dividend of 5d per share, making the total distribution for the year £37,500, that £IO,OOO be added to the reserve fund, which will then stand at £300,000, that £899 0s 8d be transferred to taxation and contingency account, £4907 5s 3d to the investment fluctuation account, £2OOO to be writ- , ten off the company's premises, and the , balance, £37,956 4s 3d, be carried forward. THE WORLD'S GOLD. SIXTY .PER CENT. IN FRANCE AND AMERICA.

(UNITED WIBSS ASSOCIATION—IiLECTISIC! TELEGRAPH — COPYRIGHT.) WASHINGTON, November '2O. Sixty per cent, of the world's gold lies in the coffers of two nations. The United States has £906.000 000. showing ail increase of £28,000,000 since the new year. France has £400,000,000. EABBITSKIN SALES.

LONDON, November 20. At the rabbit skin sales, 1064 bales were oflored and 1507 sold.' ' l - There was good competition for furriers Ports, and prices wore 10 to 20 per cent, above those on September 26th. Hatters pulling sorts attracted fair competitioii, but prices declined by 10 per cent., while uttpvlled declined 30 per cent. Low grades were neglected*