N.Z. INSURANCE CO.

Gisborne Herald, Volume LXVI, Issue 20012, 10 August 1939, Page 2

N.Z. INSURANCE CO.

■■.. OVERSEAS LOSSES The great range of insurance business conducted by New Zealand organisations was stressed in Auckland at the annual meeting of the New Zealand Insurance Company by the chairman of directors, Mr. Oliver Nicholson. Informing shareholders that the underwriters' profit for the year amounted to £94,666, the chairman said that should be regarded as highly satisfactory, especially in view of certain unfortunate events which occurred during the year, the effect of which had been the means of reducing the profits of the company. The disastrous hurricane which swept ft wide area in the Eastern States of America had involved the company in a loss of £53,000, and the bush fires in Australia brought a loss of £13,000. The company's interests in the Far East were slight, and had not been prejudically affected to any great extent by the W!ar. The premium income had been the highest in the history of the company. POTATO PRICES 'Memories of former fluctuations in potato prices, exceeding even those of this year, were recounted by Mr. Charles ' Bannister, Masterton, who said that in 1886 he sold a ton of potaetoes to Mr. Meyer Caselberg for £23 IfJS. Mr. Bannister added that the following season potatoes sold at a maximum of £4 a ton.