Finance Stocks and Mining.

Free Lance, Volume III, Issue 107, 19 July 1902, Page 24

Finance Stocks and Mining.

THE leport of the Commissioner of the Government Life Insurance Department for the year presented to Parliament is highly satisfactory. During the year 4414 proposals were received, and of this, number 319b were completed, assuring £630,346. When it xs remembered that the territory of tins State Department is confined to the colony, the writing of policies to the amount of £630,346 is distinctly good. Endowments and annuities form a large part of the business of the Government life office, and last year 104 endowments were granted for £13.700, also 26 immediate annuities for £1014, for which the purchase money was £]1,6L5. The claims show that 33.5 policies, representing with bonus additions the sum of £122,471 became due through the deaths of the assured, and 1.">7 endow ment policies for £42,389 matured. The business of the Government Life office is being managed at smaller expense than before, for the Commissioner says in his report that the expenses are not only less, but the ratio of the total expenses and commissions to the premium income declined from 21.4 per cent, to 19 6 per cent., and is now lower than for many years past. The present is the bonus year of the Government Life office, and the field agents, as well as the indoor staff, are making stienuons effort^ to put up a lecord, and they will Mieeeod in doing it The Government Accident Depaitment did remarkably well during the first seven months of its existence. Of course the Workmen's Compensation for Accidents Act created an unprecedentedly large volume of business, and the State Department secured its full shaie The premium income for the seven months totalled £11.806, of which £3780 was reserved on account of unearned premiums. The amount paid in full settlement of claims for compensation, and the sum received for claims in course of settlement, totalled £2428, which is very small. The Government Accident Depaitment w as thus able to meet all its obligations, including the costs of establishment, and then have a balance of £31-") to carry forward. The test of the accident business will come rather more ceitainly this year and onward, so that the Department must expect to have heavier compensation claims. It will then be possible to ascertain whethei the rates, fixed for the various nsks are too little or too much • • • The Union Bank of Australia has had a profitable half-year, but w ith the conservation that charaetei i*ses the management of this institution, the dividend is still restricted to 8 per cent while the reserve fund is further strengthened by the addition of £25,000. • • » The compulsory clauses of the State Fire Insurance Bill aie to be eliminated, and there is every piosnect of the Bill parsing in it<- amended form This reduces the State fire insurance proposition to very harmless proportions. Probabh w hen this new Department is established, and in working order, pin ate companies will find that instead of doing them harm the State office will do them good. The risks with a big '•moral hazard" hanging to them will find then wav into the State office and a few fiio« will soon teach a le«son Fur insurance is a gamble at all tiinot and weie it not tor tho fact that hir undpiwntcis spread their usksovei a wide ten ltorv — practicalK the civilised world— the losses would be ruinous New Zealand has a bad repute with hre underwriters, and the experience pspeeialh during the past t"«o oi tin or \eais has been yen bad indeed « • • The conect antidote to high nip piemiums is flip inquiries" of a public character, and into the causes of even fire however sfall A simple and universal pohev would also give more satisfaction to insurers. It lemains to be soph to what extent the State firp insurance will be shorn of its obiection ib'p compulsory clauses, and also whetlipi tli' 1 Government will accept risks other than tho^p of buildings If the Govpinment expects to pick and clioo<-e nsks theip will bo trouble

A we-ek ago tho Blue Star Line contract toi the South African service was to have been signed, but, up to the hour of writing, no progress appears to ha\e been made. A remarkable tenderness seems to be shown this Mr. Sleigh, of Melbourne He has been given almost unlimited time to matuie his plans, the ongmal contract has been altered to please him, and yet lie does not seem to bo able to get up to tho mark and sign the agreement The service, if established, will benefit the Australian produceis a gieat deal moie than their New Zealand competitors The vessels are to be allowed to call at tw o Australian ports to fill up with caigo, and New Zealand is to pay £30,000 a year for this privilege When the contract is definitely fixed, it will, m all probability, be found that an Australian shipping firm, that has already appeared rather prominently i" connection w ith the transport of Contingents will have, a big say in the service. * • * The Mauriceyille Lime and Cement Company, Limited, recently foimed in Wellington, has been registered, and took over the property acquired on Tuesday, The shaiemarket is very dull, and the business passing is very restricted. The sales reported on the Wellington Stock Exchange are not large enough to give a single broker a single cigar extra in a month. Insurance- shares have weakened no doubt because of the State Fire Insurance Bill. Meat shares are in fair demand, but prices show no change. The conferences and meetings to discuss the frozen meat problem have not scared shareholders * * * Mining is lifeless, and brokers do not expect to see any change, although their hopes are all the other way. The dredging returns, although averaging well, are not very large when the number of working dredges is taken into account * • • The Alexandra Lead is one of the few dredging companies whose prospects have improved during the past three months. The winnings of the dredge last week should enable the company to discharge its obligation to the preference shareholders and the holders of ordinary shares will then get a ''look in." The market value of the shares has steadily advanced from 6s to 13s 6d with an upward tendency * * # The Molyneux-Kolunoor paid its first dividend last week, and has sufficient in hand to pay another. +- * * Notown Creeks aie steadily working up into a sound position. The Pactolus second dredge is at last ready, and the shares have, in consequence, improved their position in the market * *• * Undaunted Sluicing Company's shares aie in demand, At £11 but sellers are firm at £12 os

Is Marriage a Failure, 01 no 9 To answei is nobody's place, Only time and expeiience will show In each individual case. What's worse than a very bad cold ' Nothing, we feel pietty suie — The best thing to take we are told Is Woods' Great Pepper ■mini Cuke