B.—l [PT. IV],

STATE FIRE INSURANCE OFFICE. Revenue Account op the State Fire Insurance Office for the Year ended 31st December, 1938. £ s. d. £ s. d. Premiums after deduction of reinsuranoec .. 193,500 11 1 Bonus rebate to policyholders .. .. 37,746 13 10 Other receipts £ s. ci. Losses by fire and earthquake (after deduction of Interest, commission, and rent 48,247 7 0 reinsurances) .. .. .. 30,83996 Less land-tax .. . 2,148 7 6 Income-tax.. .. .. .. .. 32,288 0 0 46,098 19 6 Commission .. .. .. .. 10,109 11 3 Salaries .. .. .. .. .. 32,347 16 10 Contributions to Public Service Superannuation Fund .. .. .. .. .. 430 0 0 Contribution to Fire Boards under the Fire Brigades Act, 1908 .. .. . . 10,491 12 7 Expenses of management— £ s. d. Travelling-expenses .. . . 2,824 0 2 Printing, stationery, and advertising .. .. . . 2,172 3 10 Rent .. .. .. 1,296 3 1 Exchange .. .. .. 54 . 6 4 Postages, telegrams, cablegrams, and sundry charges .. 3,380 9 2 9,727 2 7 Office equipment .. .. .. .. 2,322 12 4 Office premises: Depreciation .. .. 3,71912 5 170,022 11 4 Investments Fluctuation Reserve .. .. 16,000 0 0 Reinsurance Reserve .. .. .. 30,000 0 0 Office premises: Written off .. .. .. 23,000 0 0 Amount of fire-insurance funds at end of ypsir .. 576 19 3 £239,599 10 7 £239,599 10 7 Balance-sheet of the State Fire Insurance Office on the 31st December, 1938. Liabilities. .......... Assets. Capital authorized by the State Fire £ £ s. d. £ s. d. Insurance Act, 1908 .. .. 100,000 Government securities .. .. .. 642,930 12 0 Less not raised .. .. .. 100,000 Local-authority securities .. .. .. 270,166 611 Nil. Rural Advances bonds .. .. .. 14,175 0 0 Bad Debts Reserve .. .. .. .. 1,500 0 0 Fixed deposits and at short call .. .. 90,000 0 0 Reserve Fund .. .. .. .. 746,583 11 0 Land and buildings .. .. .. .. 164,892 3 2 Investments Fluctuation Reserve Fund .. 75,000 0 0 Outstanding premiums .. .. .. 12,187 18 7 Reserve for unearned premiums .. .. 104,246 911 Interest accrued but not due .. .. .. 10,359 13 3 Bonus Rebate Reserve .. .. .. 112,500 0 0 Rent accrued or due .. .. .. 3,725 13 1] Reinsurance Reserve Fund .. .. .. 120,000 0 0 Rent overdue .. .. .. .. 138 0 0 Premium and other deposits .. .. .. 1,257 7 7 Cash in Reserve Bank of New Outstanding fire and earthquake losses .. 2,275 0 0 Zealand at Wellington, or in £ s. d. Government taxes .. .. .. .. 32,967 2 0 transit to Wellington .. 48,298 0 8 Sundry creditors .. .. .. .. 43,951 17 4 Imprest Account balances: Head Other amounts owing by the Office — £ s. d. Office and branches .. .. 946 3 1 Reinsurance premiums due .. 11,466 3 9 — 49,244 3 9 Commission .. .. 2,283 16 0 Printing, stationery, and advertising .. .. .. 64 8 0 Postages and sundry charges .. 3,146 16 9 —— 16,961 4 6 Fire-insurance funds, as per Revenue Account .. 576 19 3 £1,257,819 11 7 £1,257,819 11 7 J. H. Jerram, General Manager. L. H. Osborn, Deputy General Manager. I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.— J. H. Fowler, Controller and Auditor-General.

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