AUCKLAND NEWS

Gisborne Times, Volume XIX, Issue 1583, 13 October 1905, Page 2

AUCKLAND NEWS

(Per Press Asaociatipp.) Auckland, last night, A six-roomed bouse at Penrose, occupied by Mr Ellis, and owned by Mr Tuckwei], was totally destroyed by fire yesterday, The houso and contents were insured for £BOO.

Tbe dispute over tho appointment 01 chairman of tbe Conciliation Board al Auckland has been ended by the Governor. in-Council appointing Mr John Fawcus, the Labor nominee.

At the annual meeting of shareholders of the South British Insurance Company the chairman said the premium income had increased £18,420 compared with the previous year. The revenue from interest aDd rents had increased by £SIBB to £25,324. In view of the expansion of business increased losses were anticipated. The losses are £30,460 more than in the previous year. The bonus to the staff authorised last year was chiefly responsible for increased expenditure. The loss ratio was 60.4 per cent, against 56.1 per cent in the previous year. The expense ratio was 27.6, against 24.2. The underwriting gain j was 12 per cent, against 19.7. The assets j had now reached the handsome sum of £548,095. The company had had no serious conflagrations during the year, but bad had pretty severe fire losses in some places, also some heavy marine losses, but were able to show an underwriting gain of 12 per cent, though its results of New Zea- 1 land business were less satisfactory than usual. The shareholders unanimously agreed to a resolution extending the buei nets to covet all risks except life,