COMMERCIAL.

Globe, Volume XXIII, Issue 2256, 25 June 1881, Page 2

COMMERCIAL.

4, The Customs duties oolleoted at Christohuroh oa Wednesday, Jnne 22nd, were as follows : Spirits, £l4O 6s 3d ; tobacco, £l2 19s; sugar, .£l3O Oa 2d ; tea, £4 lis 8d ; goods by weight, £372 15s 9d; ad valorem, £45 7s 9d. Total, £705 19s lOd. The Customs duties collected at Christchurch on Thursday, June 23rd, were ns follows : Spirits, £9O 7s7d ; tobacco, £ll 7s 6d ; wine, £6 10s ; BUgar, £3 16s 9d; tea. £l9 6s 8d ; ad valorem, £147 7s. Total, £278 15s (3d. UNION INSURANCE COMPANY. The f-.llowing is the fourth report and balance-sheet of the Union Fire and Marine Insurance Company for the twelve months ending May 31st. 1881 : Your directors have pleasure in presenting the report and balance sheet of the Company for the year ending .May 31at last. It will be seen from the latter that there is an available balance of £25,200 4s 7d, which amount the directors recommend to be appropriated as follows : £ s. d. To payment of a dividend, at the rate of 10 per cent 7,500 0 0 To transfer to Reserve Fund (which will then stand at .£37,500) 12,500 0 0 Leaving a balance to be carried forvard to next year of ... 5,200 4 7 £25,200 4 7 Ample provision has been made in the accounts for all losses and claims to date of balance. Tour directors have continued the same careful line of policy that has hitherto guided them in the management of the company's business, and it is with satisfaction they draw attention to the result of the year's operation, disclosing as it docs steady progression, both in revenue and profit. In compliance withjwhat the directors believe to be the wißh of the majority of the shareholders, they have taken the initiatory steps to have tho articles of association altered so as to allow the payment of interim dividends. It will devolve npon the meeting to elect three directors in lieu of Messrs Carruthers, Montgomery, and Studholme, who retire by rotation, but are eligible for re-election, and offer themselves accordingly. No other candidates have been nominated for the vacancies. It will also be necessary to elect auditors in lieu of JMessrs Wright and Ollivier, whojretire, but are eligible for re-election. The dividend, if sanctioned by the shareholders, will be payablo at the head office immediately after the meeting, and at the branches on receipt of advice. J. T. Peacock, Chairman. Christchurch, Juno 24th, 1881. Profit and Loss Account, May 31st, 1881. £ s. d. £ s. d. To fire and marine losseß 36,194 2 0 Less amount appropriated last year for unadjusted losses 2,900 0 0 ' 33,291 2 0 To discounts, re-insurance and premiums returned 37,031 10 8 To amonnt appropriated for losseß unadjusted 2,750 0 0 To stationery 773 5 2 To amount written off premises and furniture accouats ... 433 15 6 To Government taxes 921 19 9 To agents, commissions, expenses of management, and sundry charges 17,780 5 11 To balance 25,200 4 7 £118,191 3 7 £ s. d. By balance from May 31st, 1880 (after payment of dividend and appropriation to reserve fund 5,558 16 1 By firs and marine premiums ... 101,588 1 11 By interest received and accrued 7,989 15 0 By transfer foes 42 15 0 By proceeds of sale of 20 shares forfeited 11 15 7 £118,191 3 7 Balance-sheet, liabilities. £ s. d. Capital account, 100,000 shares, with 15s paid up 75,000 0 0 £ca.ervo_ fund 25,000 0 0 Callß paid in advance ... ... 63 15 0 Dividends unclaimed 264 4 9 Sundry creditors 6,398 7 4 Appropriation for unadjusted losses ' ... 2,750 0 0 Ba)anco as per profit and loss account 25,200 4 7 131.076 11 8 ass i;ts. „ . £ a. d. Mortgages 73,180 10 0 Fixed depoßits, bearing interest 15,000 0 0 Office promises, furniture, and stationery 7,981 3 0 Cash in Bank at head office ... 20,682 13 9 Cash in Bank and on hand at branches, and amounts owing to the company at head offico and branches 17,832 4 11 ,„ , £34,676 11 8 We havo examined the above balance-sheet and profit nnd loss account, together with the vouchers, accounts, tho books of the company, and the securities, and hereby certify that tho above is a correct statement of the affairs of tho company. F. E. Wright 7 . ... A. Morton Ollivibk j Auditors. Christchurch. Juno 24th, 1881.