H.—32.

Eevenue Account of the Government Life Insurance Department for the Year ended 31st December, 1889. £ s. a. £ s. a. £ s. a. Amount of Funas (Orainary ana Inaus- Death claims under policies, trial) at 31st December, 1888 .. 1,452,478 14 8 Assurance, incluaing bonus Renewal premiums — Assurance, An- aaaitions .. .. .. 72,112 17 0 nuity, ana Enaowment .. .. 187,735 12 11 Enaowment Assurances maNew premiums on 3,187 policies, assuring turoa, incluaing bonus ad£781,255, and yieiaing an annual reve- aitions .. .. .. .. 10,155 4 0 nue of £23,026 17s. 4a. (incluaing in- Endowments matured .. .. GB4 2 8 stalments of first year's premium Premiums returned on Enfalling due in the year) .. .. 20,088 17 C dowments .. .. .. 83 0 5 Single premiums—Assurance and En- Bonuses surrendered for cash .. 805 3 0 dowmont.. .. .. .. 1,909 9 8 Annuities .. .. .. 4,162 12 7 Consideration for annuities .. .. 7,573 17 3 Surrenders .. .. .. 24,038 13 3 Interest .. .. .. .. 81,386 5 6 Commission, new .. ..11,568 13 7 Fees .. .. .. .. 15 4 2 „ renewal .. 1,235 12 1 12,804 5 8 Property-tax .. .. .. 5,936 0 6 Losses on properties foreclosed .. 900 4 8 Expenses of management— Salaries—Heaa Office .. 10,688 6 0 Branch Offices and Agents .. 5,338 13 11 Extra clerical assistance 1,734 9 6 Medical fees .. .. 4,350 11 10 Travelling-expenses .. 3,869 1 8 Advertising .. .. 1,111 310 Printing and stationery .. 1,829 13 9 Rent .. .. .. 952 1 7 Postage .. .. 2,601 12 2 Telegrams .. .. 821 2 6 Exchange .. .. 201 0 9 Office-furniture depreciation 634 17 5 General expenses .. 2,015 12 5 Quinquennial expenses .. 322 16 0 Compensation for loss of office .. .. .. 526 16 7 36,997 19 II Amount of funds at 31st December, 1889 1,582,447 17 11 £1,751,188 1 7 £1,751,188 1 7

Balance-sheet of the Government Life Inscban* c Department on 31st December, 1889. Liabilitiks. £ k. d. ! Assets. £ s. d. Total Assurance, Annuity, and Endow- I loans on policies .. .. .. 242,706 7 7 ment Funds (as per Revenue Account) 1,582,447 17 11 j Government securities .. .. 635,100 0 0 Claims announced not yet paid .. 22,472 17 9 j Railway debentures (guaranteed by GoSurrenders .. .". .. .. li 0 5 vernment) .. .. .. 79,850 0 0 Annuities .. .. .. .. 24 17 7 i Municipal Corporation debentures .. 78,072 0 O Commission .. .. .. .. 1,452 611 [ County securities .. .. .. 1,000 0 0 Medical fees .. .. .. .. 599 11 0 Otago 'University debentures .. .. 15,000 0 0 Postage .. .. .. .. 500 0 0 , Harbour Board debentures .. .. 10,000 0 0 Premium deposits .. .. .. 1,240 18 4 ' River Board debentures .. .. 935 0 0 Valuation-fee deposits .. .. 19 19 0 i Landed and house property .. .. 95,799 411 Mortgage-moneys in suspense .. .. 1,089 4 2 Office furniture (Head Office and Other sums owing by the Department .. 298 10 4! Agencies).. .. .. .. 3,521 16 1 j Mortgages on property .. .. 351,332 13 f> ! Properties acquired by foreclosure .. 1,204 0 0 Overdue premiums on policies in force .. £7,203 10 9 Outstanding premiums due in December, 1889 ..20,183 5 0 27,446 15 9 Interest outstanding .. 3,291 12 2 Interest accrued but not due .. .. ..18,299 8 2 21,591 0 4 : Agents'balances .. .. .. 1,808 9 7 Sundry accounts owing .. .. 1,072 12 5 Cash on current account .. .. 43,652 3 'A £1,610,152 3 5 £1,610,152 3 5 Government Insurance Office, 20th May, 1890. JOSEPHUS H. EICHARDSON, Deputy Commissioner and Secretary, (In absence of the Commissioner.) Audited and found correct. James Edward FitzGeuald, Controller and Auditor-General.

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