Finance, Stocks, and Mining.

Free Lance, Volume II, Issue 87, 1 March 1902, Page 20

Finance, Stocks, and Mining.

THK annual repoit and balancesheet of the Australian Widows' Fund Life Assurance Society, Limited, for the year ended 31&t October, 1901, have been received in this oolonv, and the policy-holders will be more than satisfied with the gear's business. • « • During the past 3 ear 3438 policies wesre issued assuring £703 759 showing an excess over the previous year of 378 policies for £(ib,132. The new business for the past -\ear exceeded that of any year since 1888 The new business for the fiie -sears of the sixth lustrum is disclosed in the table appended -

These figures disclose steady and continuous progress, and, in a measure, reflect the excellence of the management. They also show that the confidence of insurers is being won. The Society is strong, and entitled to the full support it is receiving. * * * The new premiums for the year totalled £25.483, as against £23,007 in the previous year, and the commission paid amounted to £15,382, as against £13,770. The field agents of the Society have> been active, and deserve a word of commendation for their energy. * * * The total premium revenue for the year was £178,0-56, as compared with £167,109 in the previous year, and £160,819 m 1899. The death claims totalled £45,116, as against £50,994 in the previous year, and £44,961 in 1899. From this it will be seen that the Society's business is conducted on very safe lines, no risky" lives being accepted. The mortality experience of the Society is much below expectation. The expected claims last year were placed at £68,781, while the actual claims amounted to only 63.5 per cent, of the expectation. This, it may be stated, is the smallest ratio during the quinquennium. The accumulated funds of tlhe Society now amount to £1,509 234, shoiwing an increase for the year of £80,940, this being the largest increase in. the funds for any one year since 1894. * # * Another striking feature of > the bal-ance-sheet is the small sum paid in surrenders. For the past year the amount was £14,365, as against £22,775 in the previous year, and £26,027 in 1899. The surrenders recorded last year were in the aggregate the smallest for the pas* ten years. An exhaustive report by the actuary (Mr. James Graham) is attached to the directors' report, and the results of the valuation for the quinquennium show a surplus of £100,046, the whole of which is to be distributed, and 23,543 policies assuring £4,989,993 participate!. * * * The success of the Australian Widows ; Fund Society during the past five years is an excellent commentary on Australasian progress, and, as success leads to success, we may expect to see the next quinquennium^ show even better results. The latest balance-sheet, and the very satisfactory report of the actuary, is calculated to attract a lot of new business in the current year. Anyhow, the reports will furnish the field agents of the Society with a lot of solid and convincing asrgume.'nts. * » • The balance-sheet of the Christchurch Meat Company for the year ended 31st October last is now to hand, and the figures are very interesting. The amount show nat debit of profit and loss is £13,618, but of this £4550 aru&es through the payment of the interim dividend in April last. From this it may ibe gathered that during the first six months the company did very well, but the losses of the second half were very heavy * • * Compared with the previous year, the company lost £38,145. The sum of £18,094 brought forward, besides an additional £9068, was lost, and to this must be added £10,983, the amount of the net profit earned in 1900. * * » The (business of the company is very extensive, and far too good to be allowed to drift. It does not follow that because of a heavy loss of a, single year there should be any alarm. The heavy decline in wool and mutton are, of course, responsible for the loss, but, with careful management, the company ■should easily retrieve its position.

The directors talk about issuing new shares to the value ot £200,000, and if this could bo accomplished thei finances of the company would be in a sound position. With meat shares depressed, and meat companies legularly attacked in Parliament, it is hardly likeh that the public will readily subscribe for the new shares Howe\ er the heavy los,s of the C'hnstchurch Meat Compam will tend to modify the language 1 of the politicians who appear to be anxious to teach the freezing companies how to conduct their business * • • The houitable Life Assuianee Society of the United States deals in large figures like most Yankee concerns The business transacted last year, as communicated bv cable to the local officers of the company, is very satisfactory, and is hkelv to appeal to insurers who look for extreme securit\ * * * The assurances in foice at the cIom 1 of last year amounted to £245,682,6"31, an increase for the yeai of £13,000 350. The assets totalled £68, 966,608, an mciease of £5,508,678. The surplus of assets over liabilities at the end of ]a&t year amounted to £14.797,717, showing an increase for the year of £1,039,973. The figures are big and substantial and won't they just help the men out canvassing to talk straight. * ♦ # No Australasian company can show ■the same extensive business and big figures, because none of the colonial companies cover so large a field, but they will compare favourably with the great American company for soundness and stability, and in the colonies will command a larger share of business because of their local character. » • • The petition for the compulsoiy wind-mg-up of the Buller United Gold Mining and Dredging Company, Limited (No. 1 Ohika-iti claim), was granted last week by Mr. Justice Edwards, and, no doubt, the official liquidator will take the usual course of ascertaining the why and wherefore of all matters. * * * This company had only something let,* than 2000 contributing shares taken up, which would give it a working capital of about £1955, less costs of flotation and other incidental charges. But, notwithstanding this, 2000 contribute shares of £1 each were taken up in the Stony Creek Company, and how the shares were to be paid for is a financial problem that would be difficult of solution. * * ♦ The report of a Mr. Hayns, attached to the report and balance-sheet of tho Stony Creek Company, is somewhat amusing. He shows that a, dredge dealing with a certain quantity of stuff in a week would work out the claim m aJbout thirty weeks, and if every yard yielded an average of odwts of gold the shareholders would not get back the amount of the nominal capital of the company. . ' * * * The Waimumu Extended dredge hap been a consistent gold getter. Since starting the dredge has won 1480oz 12dwt 3gr, representing a cash value of £5785 14s 2d. On the 31st Decembei last the company had a cash balance of £401 14s Id, while the debts owing bv the company amounted to £206 10s lOd * * * The Ahaura dredge was to have ivsumed operations on Monday last The repairs were completed in the middle of last week * * * The application for shaies in t)np Teremakau Gold Dredging Company, which it was proposed to reconstruct, have not been numerous enough to wairant the directors going further wf-Ji the matter, and the company will m ?U probability, be wound-up now * * # The Endeavour Gold Dredging Company is reported to be doing very v,eU at any rate, it is stated that the deben-ture-holders have been notified that debentures to the value of £")25 will be redeemed forthwith * * * The Waimumu Extended Di edging C ompany paid another dividend (the fourth) of 6d pei share, on Monday last As the Caledonia diedge has failed to strike a payable lead of gold, some of the shareholders are moving to have the company reconstructed, with the object of procuring a tried claim within a reasonable distance of the Caledonia property.

Painless operations m dentistry are certainly a. boon to mankind. Mr. H W. Earp-Thomas, whose notice may be seen in this paper, makes a special feature of these operations. His surgery i<3 equipped with all that modern dentistry demands of its practitioners. Mr. Thomas has just returned from the famous University of Pennsylvania, where he studied dentistry in its most advanced form.

Yeai. L8 ( .17 1898 L 899 L9OO L!»01 Policies No 1741 2077 2821 3060 3438 S Sum Assuiei 362,879 446,288 578,612 637,627 703,759 ?d. ♦