STANDARD INSURANCE COMPANY.

Greymouth Evening Star, Volume XXXI, 6 March 1901, Page 4

STANDARD INSURANCE COMPANY.

(PER PRESS ASSOCIATION.)

Dunedin, March 4.

At the Annual meeting of the Standard Insurance Coy., the report declaring a dividend of 7] per cent., and a bonus of 2] per cent, was adopted. •7. Ecid (Chairman), in moving the adoption, said that they were in a position to place £SOOO to the reserve fund which will then stand at £25,000,

the - amount at which it stood before the

great Melbourne fire, which obliged them to fall back upon it. This fund being restored to its former position, the directors have seen their way, to recommend, in addition to a half-yearly dividend of 7] per cent, the payment of a bonus of 21 per cent. After these appropriations the paid-up capital and reserves will amount to £115,000 and carry forward to the credit of profit and loss £5,602 12s 2d, or rather ovei £IOOO more than last year. The year had not opened quite so favourable as the last. <: Considerable property in Australia and New Zealand had been destroyed by fire. The Company had had its share, but at the same time it was fortunate that the premium income exceeded the previous year’s by £8,706. The ratio of return from interest is 4TO per cent. The losses were £29,829, giving a ratio of 53‘77. The outlook was very encouraging. He referred with regret to the death of David Baxter, who had been indentified with the Company since its formation, having served 27 years as a director. J. Eeid and D. Haynes were re-elected directors, and a minute recording the death of D. Baxter was ordered to be forwared to the bereaved widow.