NEW ZEALAND INSURANCE COMPANY.

Taranaki Daily News, Volume LVI, Issue 193, 13 February 1914, Page 2

NEW ZEALAND INSURANCE COMPANY.

PAYMENT OK DIVIDENDS. By Telegraph—Press Association. Auckland, Thursday. The annual meeting of the New Zealand Insurance Co. was held last evnj ing, and the report and balance-sheet, )as telegraphed two weeks ago. were ladopted. The retiring director}; (Messrs lA. M. Myers, 11. C. Carr and I'. V. i Houghton) were re-elected. Mr. It. Stewart, in commenting oil the balance-sheet and the success •which had attended the year's operations, asked whether it could not have been possible to have paid a bigger dividend than 10 ■per eent. The chairman replied that the directors had always been actuated by the idea of building up a reserve fund, so that in tho event of any big loss there would be no strain upon the finances >of the company. It might be as well iiiext year to increase the capital, and .they could take it from him that the day was not far distant when legislation would come into force limiting the of interest they might roeeivo \iipon investments. \ Another shareholder asked whether '.the amount tho company had to pay in tax in"New Zealand was not (greater than in New South Wales. < The chairman: That is so. \ A shareholder: That shows how the I MasseyGovernment helps the capitalist!