Union Insurance Com-PANY.

Manawatu Standard, Volume 4, Issue 179, 5 July 1883, Page 3

Union Insurance ComPANY.

I BY TELEGRAPH.) {UNITED PRESS ASSOCIATION.) Christchj/bch, July 3. The sixth annual meeting of the Union Insurance Company 'was hel.l at , nojeß^Vd^yT -The report of the Direc-.-fr $^T<jcommending that out of the profits of the past year a dividend, of 10 per cent, be declared, .£IO,OOO carried. to the reserve fund, and £9210 carried forward to next year, was uaammously adopted. Mr J. T Peacock, Chairman of the Directors, said the Company had continued to make stoady progress during the past year, as . evidenced by the fact that the premiums amounted to £17,269 more than during the proceeding year. Be said the business of the company m San Francisco was rapidly increasing, and to give the Company a better standing m that city the Directors had invested £10,000 m United Stetes bonds. During the last two months opera tioas had been further extended by opening, a branch in* India,and by purchasing the business of the Mutual insurance Company of Auckland. The windingnup of tiv latter Com piny was, h.e said, anpthvproof that the time for small 0 >mpaj ies tdeiistin New Zealand was^riiiiiily drawing to a close. AltpgefVrthe prospects of tlie Union Company of a very satisfactory character.- lie^ plying to questions, the Chairmao said the Company had only lost £1500 by the sinking of the ship Waitara m the English Channel ; also that there was nd intention to call up more capital.