CHRISTCHURCH.

Thames Star, Volume VIII, Issue 2927, 3 July 1878, Page 2

CHRISTCHURCH.

Tuesday. The first general meeting of the shareholders in the Union Insurance Company was held to-day, the Hon. J. T. Peacock (chairman of directors) presiding. There was a large attendance of shareholders. The Chairman, ,in moving the adoption of the report and balance-sheet, said that it was unusual to submit a report for nine months, and the directors would have preferred twelve months, but by the articles of association they were bound to have a meeting within the first year. He thought that the shareholders would agree with him that they had every reason to be satisfied with the progress made by the company. The income from premiums might have been greater, but the directors determined to pursue a conservative policy, being convinced that large premiums do net always mean large profits. Several risks have been refused which subsequently came, to grief. The heavy amount paid for re-insurances, coupled with the small losses, indicated a cautious policy on the part of the directors. The directors do not recommend a dividend, but that the profits (£14,i42) be carried forward to next year, and they felt that the shareholders would agree with them that it is better in the outset of a new company to strengthen -its financial position* in this way against a rainy day. Aftergpaying compliments to the officers of the company, he said that, the directors proposed to extend the operations of the company wherever openings presented themselves. Favourable comparison might be made with the amount of business done by other companies during a similar period of their existence, more especially when the increased competition which this company had to face was considered, all preliminary expenses being cleared off in preference to distributing them over a series of years. The business of the company is progressing steadily, and he urged the* shareholders to co-operate with the directors in extending it. • The directors recommend a general meeting of the company to be held annually, which for many reasons, is preferable to half-yearly meetings. The adoption of the report was seconded by Mr John Anderson, and carried unani- ! mously. Messrs W. D. Carruthers, W. Montgomery, and John Studholme, the retiring directors, were re-elected. It was resolved that the annual general meeting be held during the first week in July. .Votes of thanks to the directors and to the manager and officers concluded the business.

At the Supreme Court, Mrs Steel was charged with the 1 wilful murder of her son, W. H. H. Steel. The case for the

Crown was that the deceased, on the day in question, was greasing his boots at the end of the garden. The prisoner, who was in a neighbour's house, being told by her daughter that • the boy ,was using some dripping iustead of cart-grease, went out suddenly, and the next that was seen of her was with the boy in her arms with a wound on the left side of his head. The prisoner explained that the boy must have fallen on some glass and cut himself. On the neighbours going down the garden, a poker with blood and brains upon it was found near the spot, as also the boy's hat. The boy ultimately died from the effects of the wound, and the prisoner, who had often been heard to threaten the deceased, was arrested on the charge of murder. The medical evidence given by Dr Frankish was to the effect that the prisoner could not have killed the deceased, as she could not have thrown the iron produced with such force as to have caused death, and the wound was evidently not the result of a blow. The jury returned a verdict of Not guilty.— J. E. Fortescue, charged with an unmentionable offence, was found not guilty.