3

H.—27

FIRST SCHEDULE— continued. Revenue Account of the New Zealand Government Insurance Association (Industrial Branch) for the Year ended 31st December, 1885. £ s. d. £ s. d. Amount of funds at beginning of year .. 2,057 18 3 Claims under policies .. .. .. 575 5 Premiums .. .. .. .. 4,697 19 4 Surrenders .. .. .. .. 2,747 12 0 Interest, &c. .. .. .. .. 230 11 7 Commission, new .. .. .. 26 12 5 Fees .. .. .. .. .. 018 6 Commission, renewal .. .. .. 762 14 3 Expenses of Management— Salaries .. .. £515 19 10 Travelling expenses .. 14 8 9 Advertising .. .. 16 12 0 Printing and stationery .. 58 19 0 Telegrams .. .. 5 11 8 General expenses .. .. 198 1 3 Office furniture depreciation 7 15 8 ■ 817 8 2 Amount of funds at end of year .. .. 2,057 15 10 £6,987 7 8 £6,987 7 8 D. M. Luckie, New Zealand Government Life Insurance Association Office, General Manager. Wellington, 31st March, 1886.

SECOND SCHEDULE. Balance-sheet of the New Zealand Goveenment Insurance Association (Ordinary Branch) on the 31st December, 1885. Liabilities. £ s. d. Assets. £ s. d. Assurance, Annuity and Endowment ] Loans upon policies within their surPund .. .. .. .. 1,102,084 1111 render value .. .. .. 118,265 18 7 Claims announced but not paid .. 10,100 13 0 Investments, — Surrenders .. .. .. 9 410 Mortgages upon property .. .. "25,350 0 0 Annuities due but unpaid .. .. 140 11 4 New Zealand Government securities 059,100 0 0 Commission, new .. .. .. 488 14 8 County securities .. .. .. 1,000 0 0 Medical fees .. .. .. 552 16 6 Borough securities.. .. .. b 66,572 0 0 Premium deposits .. .. .. 1,478 10 3 Landed and house property .. «86,057 15 3 Mortgages on properties taken over by Harbour Board debentures .. .. d 10,000 0 0 Association not yet matured .. 15,000 0 0 Railway debentures .. .. 75,000 0 0 Industrial Branch deposit .. .. 1,718 7 9 Otago University debentures .. 15,000 0 0 Postage .. .. .. .. 250 0 0 Outstanding premiums .. .. 23,941 0 3 Valuation fee deposits .. .. 79 16 0 Outstanding interest .. .. 7,425 14 8 Accrued interest .. .. .. 7,921 6 0 Office furniture .. .. .. • 2,150 0 0 Agents' balances .. .. .. 806 9 7 Cash on deposit .. .. .. 25,000 0 0 Cash on current account .. .. 6,923 14 9 Eent outstanding .. .. .. 1,329 7 2 £1,131,843 6 3 £1,131,843 6 3 Balance-sheet of the New Zealand Goveenment Insueance Association (Industrial Branch), on the 31st December, 1885. Liabilities. £ s. d. Assets. £ s. d. Assurance Fund .. ... .. 2,057 15 10 Deposit with Ordinary Branch .. .. 1,713 7 9 Office furniture .. .. .. 69 0 0 Agents' balances .. .. .. 119 6 3 Interest outstanding .. .. .. 110 0 Cash on hand and Current Account .. 154 11 10 £2,057 15 10 £2,057 15 10

0 Deeds in Audit safe, 31st December, £13,800 ; lodged since, £11,550. b Nominal value of bonds in safe, £07,150. c Subject to mortgages, £15,000. Deeds in safe, except for Wellington property lodged since. d Bonds for £40,000 in safe as security for advance for £10,000. D. M. Luckie, New Zealand Government Life Insurance Association Office, General Manager. Wellington, 31st March, 1886. In accordance with the sixty-third section of "The New Zealand Government Insurance Association Act, 1884," I hereby certify that the books, vouchers, and accounts of the Board have been examined, and that the deeds and securities have been compared with the said accounts and annual balance-sheet and have been found correct. The amounts stated as investments are those at which the several securities have been purchased. James Edwaed FitzGeeald, Controller and Auditor-General. Audit Office, Wellington, 20th April, 1886.