NEW ZEALAND INSURANCE COMPANY.

Hawke's Bay Times, Volume 13, Issue 650, 25 January 1869, Page 3

NEW ZEALAND INSURANCE COMPANY.

HALF-YEARLY MEETING.

(From the Evening News, 20th January.)

The sixteenth half-yearly general meeting of the shareholders in the above Company was held at the offices, Queen and Short-land-streets, to-day, James Williamson, Esq., Chairman of the Company, in the chair, to reeeive the half-yearly report, and to elect two directors in the room of those retiring. The following gentlemen were present .-—Messrs T. Eussell, D. L. Murdoch, W. C. Wilson, S. Browning, C. S. Tisdall, P. Grace. C. J. Stone, G. B. Owen, H. N. Warne", G. P. Pierce.

The following report was read, by the manager and secretary Mr G. P. Pierce : EEPORT. Tn accordance with the Deed of Settlement, the directors submit to the shareholders the usual half-yearly statement of. fcho affairs of the Company, terminating on the 30th Nov. 1868.

The receipts from all sources, including, the balance* brought forward from last half-year, amount to £45,500 2s Id, and the sum appropriated for losses, expenses,. &0., to £33,847 14s 3d, leaving abalance of £11,652 7s and lOd, which your directors propose to appropriate in payment of a dividend at the rate of ten per cent per annum, carrying forward the balanco £8,932 7s lOd, towards the liquidation of losses which have happened since the close, of the last half-year. It will devolve on this meeting to elect ; two directoi'3 in the room of Messrs EusselL and Wilson, who, in accordance with clause 69 of the Articles of Association, retire by rotation, but are both eligible for re-elec-tion.

The directors regret the loss of an old, and valued member of the Directors in the death of Richard Biding, Esq., who, since the establishment of the Company., has evinced a warm interest in its welfare.

The dividend will be payable at the head office on the inst., at the agencies on receipt of advice. James Williamson,.. Chairman.

The Chairman moved the adoption, of the report, saying it was unnecessary for him to say much* for the balance sheet showed a very satisfactory state of affairs of the Company, although soma severe losses had occurred this half-year. Mr Murdock said he begged to second the adoption of the report.. The motion was put and carried, unanimously. Mr rftone moved, and Mr Grace seconded th.it the retiring directors, Messrs T. Russell and W. C. Wilson, be re-elected. Tins was put and carried. Mr T. Russell said he thought it would be desirable to hold the half-yearly meeting a month earlier than at present, and lie would move that in future the halfyearly general meetings of the Company be held on the third Wednesday in the months cu December and June. . Mr Stone and Mr. I. Grace seconded the motion.

The Chairman was of opinion that the proposed alteration would be an improvement as it would enable tho shareholders to receive their dividends so much earlier. Had tho present meeting, been held in December, they would.not have had to report such heavy losses by fire aa they now. had to report. Votes of thanks to the chairmen, directors, and officers of the Company having b.en put aud passed, and brieiiy responded to by the chairman, the meeting terminated.