5

H.—9

Revenue Account of the Government Life Insurance Department for the Year ended 31st December, 1891. £ s. d. £ s. a. Amountof Fundsat 31st December, 1890 1,715,193 5 9 Death claims under policies, Renewal premiums — Assurance, An- Assurance, including bonus nuity, and Endowment .. .. 202,85116 10 additions .. .. .. 84,074 7 8 New premiums on 2,911 policies, assur- Endowment Assurances maing £699,901, and yielding an annual turcd, including bonus adrevenue o£ £20,566 4s. 2d. (including ditions .. .. .. 15,97117 0 instalments of first year's premium Endowments matured .. .. 582 16 11 falling due in the year) .. .. 18,285 2 2 Premiums returned on EnSingle premiums—Assurance and En- dowments .. .. .. 135 5 7 dowment.. .. .. .. 1,697 5 7 Bonuses surrendered for cash .. 10,157 3 0 Consideration for annuities .. .. 11,661 15 4 Annuities .. .. .. 5,410 16 10 Interest .. .. .. .. 96,878 16 0 Surrenders .. .. .. 11,947 4 7 Fees .. .. .. ~ 20 10 10 Loans released by surrender .. 16,294 2 10 Commission, new .. 11,471 610 renewal .. 1,482 14 7 . — 12,954 1 5 Property-tax .. .. .. 7,112 15 7 Losses on properties foreclosed .. .. .. .. 483 18 10 Expenses of management — Salaries—-Head Office .. 10,947 0 5 „ Branch Offices and Agents.. 4,697 8 10 Extra clerical assistance 689 4 0 Medical fees and expenses 4,575 10 2 Travelling-expenses .. 1,542 15 5 Advertising .. .. 939 17 1 Printing and stationery .. 1,494 6 2 • • • Rent .. .. .. 1,064 17 11 Postage .. .. 1,764 14 6 Telegrams .. .. 530 10 4 Exchange .. .. 242 15 5 Office-furniture depreciation .. .. .. 411 11 8 General expenses .. 1,590 4 1 Quinquennial expenses .. 1,523 11 0 Compensation for loss of office .. .. 1,147 4 8 ■ 33,167 11 8 Amount of funds at 31st December, 1891 .. .. 1,847,796 10 7 £2,046,088 12 6 £2,046,088 12 6 Balance-sheet of the Government Life Insurance Department on 31st December, 1891. Liabilities. £ s. d. | Assets. £ s. d. Total Assurance, Annuity, and Endow- Loans on policies .. .. .. 295,032 3 2 ment Funds (as per Revenue Account) 1,847,796 10 7 Government securities .. .. .. 791,993 0 0 Claims admitted, proofs not yet com- Railway debentures (guaranteed by Gopleted .. .. ..' .. 20,032 511 vernment) .. .. .. .. 79,850 0 0 Surrenders .. .. .. .. 14 11 3 Municipal Corporation debentures .. 87,572 0 0 Commission.. .. .. .. 2,254 17 7 ' County securities .. .. .. 1,000 0 0 Medical fees .. .. .. 900 18 0 j Otago University debentures .. .. 15,000 0 0 Premium deposits .. .. .. 1,532 18 1 Harbour Board debentures .. .. 10,000 0 0 Valuation-fee deposits .. .. 28 17 6 j River Board debentures .. .. 935 0 0 Fire-insurance and mortgage-moneys in | Landed and house property .. .. 96,479 14 11 suspense .. .. .. .. 158 0 0 ! Office furniture (Head Office and Agencies) 3,704 5 2 Tontine Savings Fund .. .. 2,172 13 8 j Mortgages on property .. ..381,524 0 10 Reserve for possible depreciation in free- Properties acquired by foreclosure .. 33,348 8 4 hold and mortgage securities .. 25,000 0 0 Overdue premiums on policies in force .. .. £4,416 811 Outstanding premiums due in December, 1891 ..23,109 16 1 27,526 5 0 Interest outstanding .. 5,354 14 2 Interest accrued but not due 21,661 7 0 27,016 1 2 Agents'balances .. .. .. 2,906 10 7 Sundry accounts owing .. .. 1,411 011 | Cash on current account .. .. 44,593 2 6 £1,899,891 12 7 £1,899,891 12 7 Government Insurance Office, 13th May, 1892. Josephus H. Richardson, Commissioner. W. B. Hudson, Audited and found correct. Secretary. James C. Gavin, Assistant Controller and Auditor.