INSURANCE COMPANIES.
Per Press Association
Danedin, last night. At the annual meeting of the National Insurance Company, tho ohairman of direotors, Mr J. M. Ritchie, in moving the adoption of tbe report and balance sheet, said that the work oi last year had given tho excellent staff a good deal of anxiety. It was not so good as the previous year by nearly £IO,OOO, but the Company oould pay the usual dividend, and oarry £IO,OOO to credit. The revenue shortage was accounted for by £s7ooin total premiums, and about £6OOO additional losses, bat about £IOOO additional interest had to be collected. The reduction in premiums waa tha result oi competition with the Slats offices. Interest and rents were gradually creeping up, and they were now within measorable distanoe of providing the usual dividend. He did not think they need view with serious alarm the operations of the State office. If there was any profit to be made out of insurance business the National Company would get its ahare. The report and balance sheet were adopted, Messrs A. T. Bent and J. Moloney were re-eleoted direotors, .and Messrs T. S. Graham and E. R. Smith anditorß.
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Bibliographic details
Gisborne Times, Volume XIX, Issue 1604, 17 November 1905, Page 3
Word Count
195INSURANCE COMPANIES. Gisborne Times, Volume XIX, Issue 1604, 17 November 1905, Page 3
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