NATIONAL INSURANCE COMPANY.

Evening Star, Issue 4117, 8 May 1876, Page 3

NATIONAL INSURANCE COMPANY.

The half-yearly meeting of the shareholders in the Rational Insurance Company was held at the City Council Chambers thin afternoon; Mr W. J. M. Laraach in the chair. About seventy shareholders were present. The Chairman said it was exceedingly gratifying for him to meet the shareholders to-day to discuss the Company’s position of affairs, particularly as only the fifth halfyear had passed. His co-directors would agree with him that in the history of the Colony no kindred society had made such solid or rapid strides as tins company. The premiums for the time the company had been in existence showed For the first half-year L26,02d; for the second, L 27,400 ; for the third, L 42,572; for the fourth, L 45,064; while for the present term they had made tremendous progress, and now reached L 64,258. Since the last meeting the directors had had under eonsideration the opening of an office in San Francisco; and after mature consideration it was not considered prudent just now to extend the Company’s operations in that direction. Of the maritime losses 66 per cent, were total losses, all being on good risks. Three directors retired by rotation, and were eligible for re-election ; the fourth on the list would fill Mr Butterworth’s place, who had resigned, owing to business engagements. He proposed the adoption of the report, which was seconded by Mr R. Wilson, and agreed to. Mr B. Hallenstein proposed a vote of thanks to the directors, general manager, and officers of the Company for their careful management. In acknowledging the expression of opinion, the Chairman bore testimony to the care exhibited by Mr Jack. The election of four directors next took place, the following gentlemen being proposed Messrs P. C. Neill, E. Prosser, R. Glendining, H. Driver, and E. B. Cargill. A ballot having’’ been J taken Messrs Glendining, Cargill, Prosser, and Neill were elected.

The retiring auditors were re-elected,