5

H.— 8

Revenue Account of the Government Life Insurance Department for the Year ended 31st December, 1896. £ s. d. £ s. d. Amount of Funds at Ist January, 1896 2,428,245 1 6 Death claims under policies, Assurance, Renewal premiums — Assurance, An- including bonus additions .. .. 87,556 5 0 nuity, and Endowment .. .. 230,324 6 5 Endowment Assurances matured, includNew premiums (including instalments ing bonus additions .. .. .. 22,049 2 0 of first year's premiums falling due in Endowments matured .. .. .. 1,053 7 4 the year) .. .. ■ .. .. 18,442 10 10 Premiums returned on endowments .. 47 810 Single premiums—Assurance and En- Bonuses surrendered for cash .. .. 2,040 3 4 dowment.. .. .. .. 2,009 2 2 Annuities .. .. .. .. 9,694 18 3 Consideration for annuities .. .. 19,943 10 7 Surrenders .. .. .. .. 17,332 14 6 Interest .. .. .. .. 124,255 4 8 Loans released by surrender .. .. 26,595 3 1 Fees .. .. .. .. 918 0 Commission, new .. £10,859 19 6 renewal .. 1,643 7 2 . 12,503 6 8 Land- and income-tax .. .. .. 7,565 16 10 Expenses of management— Salaries—Head Office £10,385 12 0 „ Branch Offices and Agents 5,776 3 3 Extra clerical assistance 1,504 18 8 Medical fees and expenses 4,612 6 10 Travelling-expenses .. 754 13 4 Advertising .. 733 13 4 Printing and stationery 1,232 17 11 Rent .. .. 2,225 0 0 Postage .. .. 1,481 18 2 Telegrams .. .. 692 1 1 Exchange .. .. 55 15 11 Office furniture depreciation .. .. 963 8 9 General expenses .. 2,506 18 3 Triennial expenses .. 2,023 15 9 34,949 3 3 Reserve for possible depreciation in freehold and mortgage securities .. .. 10,500 0 0 Amount of funds at 31st December, 1896 2,591,342 5 1 £2,823,229 14 2 £2,823,229 14 2

Balance-sheet of the Government Life Insurance Department on 31st December, 1896. Liabilities. Assets. s, s. a. £ s. a. s s. a. Total Assurance, Annuity, and Endow- Loans on policies .. .. 464,829 0 4 ment Funds (as per Bevenue Account) 2,591,342 5 1 Government securities— Claims admitted, proofs not yet com- Consolidated stock .. 670,116 0 0 pleted .. .. .. .. 16,814 18 0 Treasury bills .. 140,000 0 0Annuities .. .. .. .. 20 13 4 Railway debentures Commission.. .. .. .. 733 4 5 (guaranteed by GoMedical fees .. .. .. 685 13 0 vornment) .. .. 44,94.3 15 0 Premium and other deposits .. .. 3,943 9 1 Debentures issued under Fire Insurance moneys in suspense .. 100 0 0 j " The Native Land Tontine Savings Funds .. .. 10,517 16 5 Purchases Act, 1892" 15,000 0 0 Reserve for possible depreciation in free- Debentures issued under hold and mortgage securities .. 24,000 0 0 "The Immigration and Public Works Act, 1870" .. .'. 1,956 7 7 872,016 2 7 Municipal Corporation debentures .. 106,721 3 4 County securities .. .. .. 1,000 0 0 Otago University debentures .. .. 15,000 0 0 Harbour Board debentures .. .. 43,411 10 8 River Board debentures .. .. 435 0 0 Town Board debentures .. .. 500 0 0 Landed and house property .. .. 116,169 16 9 Office furniture (Head Office and Agencies) 3,256 2 6 Mortgages on property .. .. 812,585 11 9 Properties acquired by foreclosure .. 29,906 11 0 Overdue premiums on policies in force .. £4,767 12 8 Outstanding premiums due but not overdue .. 29,088 11 5 33,856 4 1 Overdue interest .. 760 12 1 Outstanding interest due but not overdue .. 2,230 1 3 Interest accrued but not due .. .. .. 30,285 17 0 33,276 10 4 Agents'balances .. .. .. 3,746 39 11 Sundry accounts owing .. .. 1,456 16 9 Cash in hand and on current account .. 109,990 9 4 £2,648,157 19 4 £2,648,157 19 4 Government Life Insurance Department, 9th March, 1897. J. H. Eichardson, Commissioner. W. B. Hudson, Audited and found correct. Secretary. J. K. Wahburton, Controller and Auditor-General.