Page 6 Advertisements Column 3

Taranaki Daily News, 21 November 1922, Page 6

est designs, 2/6, 2/11. 3/6, 3/11 per yd: 40 inches wide. Check Ginghams and Zephyrs, 40m.. 1/9, 2/6, 2/11: 27in. 1/- yd. Printed Voiles in very smart designs and colorings, 40in. wide, 2/6, 2/11,

A NEW INSURANCE COMPANY. OWJftD AND CONTROLLED IN DOMINION. The attention of investors is drawn to an announcement in another column relating to the prospectus of the Mercantile and General Insurance Company, Ltd. This company has been registered in 55 T ellington, with an authorised capital of .£1.250,000, divided into 1,250,000 shares of £1 each. Applications are now invited from the public for 200,000 shares, 2s being payable on application, 2s on allotment, and the balance in calls of not more than 2s. It is expected that not more than 6s will be called up on i each share. As showing the faith of the i promoters in th? scheme, there has already been subscribed by these, and friends, £27,050 worth of shares. It is claimed that there is ample room 1 for another Insurance Company in this! Dominion, and in proof of this the Directors state that, the figures relating to insurance business indicate that handsome profits can be made if a cautious and economical policy is .pursued. Tn 1920 the total premiums received in New Zealand in respect of Fire and Accident, business aggregated approximately £],-, 485,000. the total claims amounting l tni • roughly £502.000. It is claimed that 1 these figures indicate that there is ample room for a live and well-conducted coni- 1 I pany. There are four large New Zealand-, ! owned and managed Insurance compan- ‘ :es now operating in the Dominion, and recent balance sheets show that each of 1 ; these companies has done exceedingly! i well. The premium income from th? four institutions amounted to £2.445,-i 664. The losses and expenses incurred! ran into £2.281.424, leaving an underwriting profit of £164.240. Adding in-! tere-t and rents to this figure, the l year’s total resulted in a net profit of £380.642. Of the above amount £280,533 was paid in dividends, £104,925 was added to reserve funds, and the balance of £44.884 was carried forward. The dividends paid on th? average amounted to 12J per cent. The directors, who are all active and successful business men. point out that, further issues of capital will probably be at a premium, and investors are urged to make early application for shares. ? Applications may b?. lodged at. any branch of the National Bank of New Zealand. Ltd.: at the registered I office of the company. 32 Grey Street, I Wellington; at any of its branch offices; or at any of the brokers named. Prospectus will be posted to any inquirer.