H.—B.

Eevenue Account of the Goveenment Life Insueance Depabtment for the Year ended 31st December, 1888. £ s. d. £ s. d. £ s. d. Amount of Funds (Ordinary and Indus- Death claims under policies, trial) at 31st December, 1887 .. 1,328,493 6 2 Assurance, including bonus Renewal premiums — Assurance, An- additions ~ .. .. 69,435 8 4 nuity, and Endowment .. .. 181,224 18 11 Endowment Assurances maNew premiums on 2,944 policies, assuring tured, including bonus ad£785,092 15s. od., and yielding an an- tions .. .. .. .. 6,612 4 0 nual revenue of £21,853 15s. Id. (in- Endowments matured .. .. 1,193 1 5 eluding instalments of first year's Premiums returned on Enpremium falling due in the year) .. 20,625 7 1 dowments .. .. ... 59 12 7 Single premiums—Assurance and En- Bonus surrendered for cash .. 2,697 10 4. dowment .. .. .. 4,094 3 6 Annuities .. .. .. 4,009 1 3 Consideration for annuities .. .. 2,795 13 7 Surrenders .. .. .. 26,403 18 6 Interest .. .. .. .. 73,421 0 7 Commission, new .. .. 9,772 14 7 .. * Fees .. 39 11 5 renewal .. 1,278 6 2 11,051 0 9 Property-tax .. .. .. 5,443 0 6 Expenses of management,— Salaries—Head Office .. 10,433 1 3 „ Branch Offices and Agents .. 4,741 2 3 Extra clerical assistance 1,653 2 3 Medical fees .. .. 3,7.20 2 6 Travelling expenses .. 3,02113 6 Advertising .. .. 542 8 9 Printing and stationery .. 1,906 5 1 Eent .. .. .. 9Q6 710 Postage .. .'.'" 1,150 0 0 Telegrams .. .. 819 9 6 Exchange .. .. 217 5 3 Office furniture depreciation 482 10 10 General expenses .. 1,716 19 11 ■ 31,310 8 11 Amount of funds at 31st December, 1888 1,452,478 14 8 £1,610,694 1 3 £1,610,694 1 3

Balance-sheet of the Goveenment Life Insubance Department on 31st December, 1888. Liabilities. £ s. d. Assets. £ s. d. Total Assurance, Annuity, and Endow- Loans on policies .. .. .. 215,454 2 9 ment Funds (as per Eevenue Account) 1,452,478 14 8 Government securities .. .. 590,100 0 0 Claims announced not yet paid .. .. 14,399 8 9 Railway debentures (guaranteed by GoSurrenders .. .. .. .. 231 18 4 vernment) .. .. .. 79,850 0 0 Annuities .. .. .. .. 12 10 7 Municipal Corporation debentures .. 75,072 0 0 Commission (new and renewal) .. .. 2,099 0 5 County securities .. .. .. 1,000 0 0 Medical fees .. .. .. .. 482 9 G Otago University debentures .. .. 15,000 0 0 Postage .. .. .. .. 300 0 0 Harbour Board debentures .. .. 10,000 0 0 Mortgage on property taken over by the Eiver Board debentures .. .. 435 0 0 Association not yet due .. .. 10,000 0 0 Landed and house property .. .. 93,190 C 3 Premium deposits .. .. .. 1,000 14 7 Office furniture (Head Office and Valuation-fee deposits .. .. .. 16 5 6 Agencies) .. .. .. 2,602 10 G Mortgage-moneys in suspense .. .. 1,290 10 1 Mortgages on property .. .. 304,299 1 3 Other sums owing by the Department .. 26 1 4 Overdue premiums on policies in force .. .. 8,123 10 4 Outstanding premiums due in December, 1888 .. 20,318 7 7 ■ 28,441 17 11 Interest outstanding .. 1,998 6 0 Interest accrued but not due.. .. .. 16,021 8 4 • 18,019 14 4 Agents'balances .. .. .. 1,047 6 1 Sundry accounts owing.. .. .. 777 8 7 Cash on current account .. .. 47,048 G 1 £1,482,337 13 9 £1,482,337 13 9 Government Insurance Office, 28th May, 1889. F. W. Feaneland, Deputy-Commissioner. Audited and found correct. James Edwaed FitzGebald, " J. H, Bichaedson, Controller and Auditor-General. Secretary. D. M. Luckie, Government Insurance Commissioner. Wellington, Ist July, 1889.

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