INSURANCE COMPANY

Gisborne Times, Volume XXV, Issue 2021, 5 March 1907, Page 2

INSURANCE COMPANY

10 PER CENT. DIVIDEND. Press Association. DUNEDIN, last niglit. The Hon. Mr Fergus, who presided at the annual meeting of the Standard Insurance Company this afternoon, said: ‘The profit on the underwriting was £5014, which is a small return for the business, but wo must expect lean years as well as fat ones, and unavoidable circumstances have contributed to keep down our gains. No part of our jirofit has been derived from New Zealand. It is the second year of our fire business that has resulted in actual loss; there is no doubt that the year’s fire business in the colony has left a considerable shortage to all companies pursuing the policy of safety which lias been characteristic of this company for so many years. The directory have added £SOOO to the reserve fund, bringing this up to £50,000. We have also a reinsurance reservo of £25.000, or a total at reserve equal to tho paid-up capital. Your directors believe that it is sound policy, whenever possible, to strengthen the reserve, and this they are determined to continue. AVe i>aid an interim dividend, and after providing for all likely contingencies now recommend a dividend at the rate of 7} per cent., with a bonus of 2J, making 10 per cent, for the year, and to carry forward £7183.

HORSE RACING,,

Press Association.

AVANGANUI, last night,

Tho following are the final payments for the AVanganul Cup:—Multifid 8.13, Marguerite 8.12, Paritutu 8.7, Master Delaval 7.13, King Billy 7.7, Apa 7.7, Montigo 7.5, Truce 7.1, Rifle Maid 6,13, Seal Rock 6.10.