COMMERCIAL

Poverty Bay Standard, Volume III, Issue 324, 13 November 1875, Page 2

COMMERCIAL

Thb following statement was submitted to the shareholders at. the last half-yearly general meeting of the National Fire and Marine Insurance Company of New Zealand ; Total receipts for the half-year (including £2073 14s 2d, carried forward from previous balance,) £42,738 9s 8d; total expenditure, £23,576 10s 7, leaving for distribution the sum of £19,161 19s Id, which the directors recommended should be appropriated as follows: —Ist. By placing a further sum to Reserve Fund of (which will then stand at £35,000) £5,000 ; 2nd. By payment of a Dividend at the rate of 15 per cent, per annum on paid-up capital, which will absorb £3,750 ; 3rd. By carrying forward to next half-year the balance £10,411 19s Id. Provision has been made in the accounts for £2267 8s 4d., unadjusted losses at the date of closing books, also the re-insurances in Marine Department, and all known liabilities, which have been duly carried to profit and loss account. The Directors regret to say the Company is interested in the “Strathmore,” an overdue ship from London to Otago, to the extent of £4,800 ; but being a “ missing ship,” this was not accepted as a loss by any of the offices till 16th October, and therefore not provided for in present balance sheet.