COMMERCIAL.

Poverty Bay Standard, Volume III, Issue 226, 28 November 1874, Page 2

COMMERCIAL.

NATIONAL FIRE AND MARINE IN BURANCE COMPANY.

The second half-yearly meeting of the above CciD]*i;y was lately held in Farley’s Hall Princes-st reet Dunedin. There was a good attendance of shareholders. Mr. W. J. M Lamach. Chairman of Directors, presided. The Chairman read the following report:

In submitting the second half-yearly report and balance sheet for the six months ending ■with 30th September last, the Directors have cause to congratulate the shareholders al the st eadv and continued progress made by the Company. It will be seen from the subjoined figures that the receipts for the half-year have been £29,160 8s 2d, showing a gradual improvement on the last, half-year's business, from which have to be deducted salaries, advertising, stationery, and cost of management -roughout the Colony and foreign agencies, £4,19016s 34 , commissions and fee-insurances, £9,328 2s 3d; which wilk leaV® a surplus, balance of £15,641 9s Sd, less wfittenoff s ationery ana furniture accoums radeprtfiati;>n. \ / Krom the above balance. the J&ses amounting to £7,3/3 19s 4d Kr s/Ml have to°be deducted, Jeaviii y net wfalaiVe of £8.052 10s 43 to be addeqZo the Huanc»that remained over on Profit.yaVl Los/Account at 31st March last, pnikiV Jne \um of £23,086 8s Gd now at the efled/t of Prbfit and Loss, and which the Directonfrecommend to be applied as follows : — / \ Ist. By setting apart to tjfe \ formation of a Reserve \ Fund £15,000 0 0 2nd. By payment of a dividend of ten per cent, on t he paid-up capital, which will absorb ... 2,500 0 0 3rd. By carrying forward to next half-year the balance 5,586 8 6 The Directors take this opportunity of cordially thanking the Shareholders generally for the great interest they have hitherto manifested in the welfare of the Company, and they trust that a similar desire will continue to be shown by every Shareholder to advance the growth of the Company ; for it is only by such aid t he Directors can hope to build up a strong Institution, so that, the results of future halfyears will continue to be satisfactory to the Shareholders.

The dividend now recommended by the Directors, if adopted by the Shareholders, will I • payable at the Company’s Offices, in Alanscsi eet, and the several Branches and Agencies of the Company, on and after Tuesday the 17i » November.

By order of the W. J. M. Labnach, Chairman.