STANDARD INSURANCE CO.

New Zealand Times, Volume XXXVII, Issue 8359, 20 February 1913, Page 11

STANDARD INSURANCE CO.

ANNUAL REPORT. Tho following' particulars appear in the annual report of the Standard Fire and Marin© Insurance Company of Now Zealand, Ltd;, covering the year ended December 31st last: The income for the year, including tho balance brought forward from last year, amounts to £156,934 16s 7d, and tho expenditure to £128,185 2s 6d, leaving a balance of £27,749 I4s Id. From this amount an interim dividend was paid in June last amounting to £3OOO, and the directors have added £7500 to the reserve fund and 3000 to the re-insurance reserve fund. They recommend that the balance be appropriated as follows: To pay a dividend for half-year ending Decem. her 31st, of 8 per cent., making 12 per cent.’ per annum, £6OOO, to carry forward to next year £8249 14s Id. Full provision has. been made in the accounts for all ascertained losses ,to the close of tho year. The dividend now recommended, if approved by the shareholders, will be payable immediately after the meeting, on March 3rd, and at the branches on receipt of advice. The directors appointed Mr George Fenwick to fill the vacancy on the board caused by the death of Mr John Reid. Messrs William F. Edmond and John Mill retire from the directorate, as provided by the articles of association. Both are eligible and offer themselves for re-election. Mr Patterson offers himself for re-election as auditor.