COMMERCIAL.

Grey River Argus, Volume XIV, Issue 1783, 23 April 1874, Page 2

COMMERCIAL.

At the South British half-yearly meeting held at Auckland, the report to the shareholders congratulated them on the large and steady increase in the business. There had not been more than fair average losses. The total premiums during the half-yearanwunted to L 31,09 2; leaving, after deducting L 3196, amount paid for re-insurance, L27,79G, as against L 17 ,936 3s Cd for the previous halfyear, and L 14,000 for the first half year. The third half-year's premiums show an increase of 64 per cent on those of the second, and newly double on those of the first half. The losses for the half-year amounted to L 13.570. There has been a markedftincrease in the business of the company, notwithstanding the increased insurance competition in the Colony. This must be gratifying to shareholders, and will doubtless be an incentive to them to continue to use their influence in favor of their company. The amount to credit of profit and loss on closing the books at the end of the half-year was L 22.507. The directors have carried LIO.OOO of this to the reserve fund ; L 4687, equal tn 2s 6d per share, to the capital balance ; and L 7822 is brought forward to the current half-year The paid-up capital now is L 42.187 ; the reserve fund, L 20.000. The shareholders bearing in mind the increasing business of the company, will doubtless cordially concur in the policy adopted by the directors in making additions to the capital reserve fund, rather than now taking money from the business to pay dividends, while the general public, both investors and insurers, ■will not fail t < perceive the anxious desire to build up "thoroughly a sound institution. The London agency is now hi full working order, and already doing a considerable business This is owing to the valuable support afforded by numerous importers to the Colony, many of whom are shareholders in the company. Kelying on this support from both shareholders and other friends of local institutions, the directors anticipate tfiat the company will have a large and constantly increasing business between London and the various ports of New Zea'and, and also those of the Australian CMonies The chairman of the directors said their endeavor was ' o place the company on a firm foundation. There was no reason why the South British should not become the most important company in the southern hemisphere. Messrs Batger and White were reelected auditors, and their ealary raised to LflO.