AUCKLAND NEWS.

Waikato Argus, Volume I, Issue 42, 15 October 1896, Page 2

AUCKLAND NEWS.

(l\\ THLM'UI.U'It. —OWN - COBUKn'O.VDHSr). AruKi-\Nn, Li-t Xuht. Ox the .strength of a splen lid assay Tatrua Proprietary shares to-day advanced to Is Id. with sales at that figure. J> inker's Hills were slightly stiffer with buyers at ."is 2 1 and .-clefs at .">-: (i 1. Waibi stocks were c.is : er. Silcs to -k place in Waibi C insols a', Is 11. Buyers ottered '2s :>I for Waihi South. A goo I sized parcel of Kurannis changed bauds at Is lid. Transactions were made in Adelaides at 2s 51. Alburnii Hast, Is Id, Is \ 1 ; Comstoeks. ill; IT azelb inks, (is Dd, (is tOd ; Kuranu's, -J; ; May Queens lis ; Sboridans Is, Is 2d ; C.ty of Auckland*. 2 s Id; Byron Bays, Is :\ 1 ; Hercules, Is 2d: Hit or Miss, I- •_> 1 ; I'ortseis, 2< I!) 1 ; Waibi Extended, lO'.d; Waitckauri No 2, !).', 1 : Voting New Zealand-, Is :i 1 ; Bay \'l. ws, Is Od, Is Sd ; Cuirassiers, SI ; tour in Hands, 2s 7d; Golden Hill Extended*, I'A ; /calamii.is, ls'.H to Is o.'.d ; Criterion*, Is Old ; Alias Is Id ; Ha-p of T.ras, Is (il ti'. Is Sd and Is.") I. At the Socth British meeting today, the Chairium in moving the adopiion of the report, stated bit the operationsJia 1 been less profitable than for the previous live yens. lire ;>nd marine losses we;e unusually heavy, an I be be'ieved this was t!ie experience of mo<t Insu ance Comp inies operating in the same lipids. There was no losses of exceptional magnitude, but were much more numerous than usual. The majority occurred in respect of risks recogirsod by the underwriters as least hazardous. The 10-ses during the year .-how an increase of t'. - <7,.>70 compared with the previ jus year, agiiust this the net premium revenue showed an increase of .Cl 1,2.'!7. Referring to the proposal for State I'ire Insurance, the Chairman said when this Bill was llrst eircu lated it caused such disturbed 'ee'ing amongst invcs'o.-.s g nerally (hit th 3 mii kct value of .shire- in the four New Zealand conioau'es dropped fully £IO!),000. He thought the thrfj of the peojile represented by the savings an I investment in leeil companies sboul 1 n >t be punished in this in inner by legislatio i or even threats of legislation. Were the general public aware of the vicissitude- and iricertaiiiti s of the Ii e insurance bu-iness and the extreme ddlieulty of in iking profits even u -de■" (he most fivourable coiditims they Would foi those reasons alone never give sanction to the Government engaging in the business. The report wis adopted Messrs L'eacjek and Kdson wc.c reelected director*.