COMMERCIAL.

Poverty Bay Standard, Volume III, Issue 409, 13 September 1876, Page 2

COMMERCIAL.

The half-yearly report of the Standard Fire and Marine Insurance Company has been distributed, a general meeting of the shareholders was held on the 4th instant, at Dujiedin. The report states that — “ The dividend declared at last halfyeariy meeting, amounting to £2500, having been carried to capital account, there now remains a gross balance to credit of profit and loss account of £24,385 19s 4d, of which £14,858 Will require to be set apart to provide for reinsurances of current risks, and for payment of unadjusted - losses, which will leave a net balance of £9550, and which your directors reeoramend should be applied as follows, viz. That a dividend of 6d per share for the half-year be declared and carried to credit of capital account, which would make shares then stand at 12s 6d paid up. 40 per cent, of surplus to be carried to credit of reserve fund ; '3O per cent, to be paid to policy holders in the company whose accounts show a credit balance for the proceeding twelve mouths ; and the remaining 30 per cent, to be also carried to reserve fund. The capital would then stand at £31,250, and the reserve fund at £5BlO. The business of the company is in a very satisfactory state, and the directors are much pleased to be in a position to recommend the distribution of a bonus among the insurers; and they consider that this coulee of capitalising diviefends will recommend itself to the shareholders as being most conductive to the well-being of the company.”