AUCKLAND.

Thames Star, Volume X, Issue 3291, 9 July 1879, Page 2

AUCKLAND.

i This day. New Zealand Insurance Com-! pany Meeting. At the half yearly meeting of the New Zealand Insurance Company this afternoon, the "report stated that after*deducting sums paid for re-insurance of .surplus risks, the premium amounts to £94,819 ; interest, rents, transfer fees to £114800. The losses paid and outstanding amount £97i383. After the payriieittt of and providing for losses and commission the general expenses accounts show a ; balance of £11,523. The directors? are enabled outoftheinterest accrued on investments to declare a dividend of 10 per cent per annum, which will leave £1,523 to be carried forward to the profit and loss new account. During the past half-year the business has been greatly depressed, andlosses were also exceptionally heavy, nor can the company expect much better results whilst the present excessive competition for business and reduction in rates continue. The dividend warrants will be payable to-morrow, the 10th inst., and at branches and agencies on receipt of advices. Profit and. loss account: Dr.- —To dividend half year, 30th November, £15,000; commissions, salaries and other expenses, £25,411; fire and marine losses, £69,729 ; •appropriation for unpaid losses, £27,054; balance, £11,523 ; total, £149,318. Cr.— Balance from last half-year, £19,283; appropriation last half-year, £23,415; fire and marine premiums (less reinsurance), £94,819; interest, rents, transfer fees, £11,800 ; total, £149,318.