NATIONAL INSURANCE COMPANY

Taranaki Daily News, Volume LI, Issue 280, 20 November 1908, Page 3

NATIONAL INSURANCE COMPANY

ANNUAL meeting. By Telegraph.—Press Association. Duncdin, Last Night. The annual .meeting of shareholders in the National Insurance Company was held to-day. The annual report stated tlmt the net revenue for the year amount* to £12!j,577 3s 2d. After paying an interim dividend of £7500, there is a surplus of HI Is Bd, to which lias to be added balance from last year, .£20,333 lis H)'J; total, £52,42!) 13s Gd. The directors added to the reserve fund £ 15,000, leaving £37,429 13s lid, and recommend the .payment 'of a further dividend of 9d per share, making a total distribution for the year of Is fid per share, which -will absorb £7500, and to carry forward £29,929 13s fid. The fhairman (Mr. Kempthorue) said the results showed an improvement on the previous year, the revenue being somewhat better and the losses a few thousand pounds less. The report was adopted. Commenting on the fait that the company paid .C 3&41 8s lid to the Government j.l taxes, Mi". John Mills said hj? presumed this was mostly for incometax. He did not think, they should l-e called upon to pa* such a large amount to the Government, which might in a way tie considered a rival concern. He Jioped this amount would not be employed to elbow the company out of business.