SOUTH, BRITISH INSURANCE COMPANY.

Oamaru Mail, Volume IV, Issue 1319, 11 October 1880, Page 2

SOUTH, BRITISH INSURANCE COMPANY.

(by telegraph.) Auckland, October 11. ' The sixteenth half-yearly meeting of the Souih British Insurance Company was held at 10 o'clock to-day- The following is the report :—The. directors have pleasure in placing before the shareholders .the following statement of accounts for the sixteenth half-yearly report of the company's business, ended 31st August last. The income from the .fire and marine premiums has been L 63,765 8s Bd, and from interest and transfer fees, L 5278 0s 6d - ; total, L 69,043 9s 2d, which, added to L 2343 3s sd, brought forward from the previous half-year, makes a total of L 71,386 12s 7d. The total expenditure has been—Fire and marine losses paid and outstanding when books closed, L 30,114 5s 3d ; re-insurances, salaries, printing, advertising, and general charges, L 20.301 0s 5d ; leaving a balance of L 11,971 6s lid to the credit of the : profit and loss account, from which your directors recommend the payment of a dividend at the rate of 10 per cent, per annum. If this dividend be sanctioned by the' shareholders, it will be payable at the head office on the 13th Ootober, and at the branches on receipt of advice. It will be the duty of the shareholders to elect two directors in the place of the Hon. H. Chamberlain and P. Howard, Esq., whp retire in accordance with the articles of but who are eligible and offer i themselves for re-election.