The New Zealand Insurance Company
I PER UNITED PRESS ASSOCIATION. I Auckland, January 8. The New Zealand Insurance Company, which holds its annual meeting to-day pays a dividsnd of 12i per cent. The report is a follows :— "The premiums, after deducting returns and reinsurances, amount to .£269,803, an increase of .£20,---447 for the year. After providing for ascertained losses, and paying an interim dividend of 2s 6d per share up to July last, there remains .£22,975 available for division, which the directors recommend to be appropriated as follows: — To the reserve fund i'sooo, payment of 12£ per cent, dividend A' 12,500, and the balance to be carried forward i' 5475. The reserve and re -insurance fund 6 will then reach £24.0,000. At the annual meeting of the New Zealand Insurance Company to-day. Mr Wood moved an amendment to the motion for the adoptisn of the report and balance-sheet, " That the dividend for the year be 15 per cent, instead of 12£ por cent." He said that in the Company's position this extra sum would easily he afforded, Several speakers, however, uiged the wisdom of adding to the reseuve fund. The amendment was negatiyed, aud the report and balance-sheet adopted.
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Bibliographic details
Feilding Star, Volume XI, Issue 84, 9 January 1890, Page 2
Word Count
199The New Zealand Insurance Company Feilding Star, Volume XI, Issue 84, 9 January 1890, Page 2
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