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In Wellington land was secured in 1915, and a seven-story building is now in course of erection. During 1918 land was purchased in Palmerston North, and the buildings thereon made suitable for the business in the meantime. During 1919 land was purchased next to the postoffice in Hamilton, and a new building is now being erected. The old building was quite unsuitable for our requirements, and did not give a reasonable return on the cost of the site. Several other branch offices are now greatly hampered for lack of room, and it appears that further land must be purchased and buildings erected at an early date. j C. R. C. Robieson, ' ! ■ General Manager.

Revenue Account of the State Fire' Insurance Office for the Year ended 31st December, 1919. £ s. d. £ s. (1. Premium, after deduction of reinsurances 100,763 15 9 Losses by fire (after deduction of reinsurOthcr receipts — Interest, commission,, ances) .. .. .. .. 23,211 fi 5 and rent .. .. .. 9,800 15 5 Appropriated to reserve for unearned premiums (in addition to £36,030 19s. 2d. already reserved) .. .. .. 4,274 11 2 Government taxes .. .. .. 14,867 6 6 Commission .. .. .. 8,321 18 8 Salaries .. .. .. .. 12,242 7 3 War bonus to staff on salaries under £315 270 15 11 Contributions to Fire Boards under the Fire Brigades Act, 1908 .. .. 2,223 0 7 Expenses of management— £ s. d. Travelling-expenses .. 1,189 16 11 Printing, stationery, and advertising .. 1,092 3 II Rent .. .. 1,185 14 8 Exchange . . .. 26 10 2 Postages, telegrams, ' , , cablegrams, and sundry charges .. 1,733 8 2 5,227 13 10 Investments Fluctuation Reserve Fund 1,000 0 0 Office premises and equipment written off 1,882 9 6 Amount of fire-insurance funds at end of year .. .. .. .. 37,043 1 4 £110,564 11 2 £110,564 11 2 26th February, 1920. C. R. C. Robieson, General Manager. Examined and found correct. —R. J. Collins, Controller and Auditor-General. Balance-sheet of the State Fire Insurance Office on the 31st December, 1919. Liabilities. Assets. £ s. d- £ s. d. £ s. d. Government war bonds and stock .. 100,000 0 0 Capital authorized by the Government debentures and Consols .. 68,196 6 6 State Fire Insurance Fixed deposits and at short call .. 20,000 0 (I Act, 1908 . ... 100,000 0 0 Municipal Corporation loans . . .. 500 0 0 Less not raised .. 100,000 0 0 Mortgages on property .. .. 2,850 0 0 Nil. Freehold land and build- £ s. d. Reserve Fund .. .. .. 164,988 19 0 ings .. .. 47,225 1 7 Reserve for bonus to policyholders .. 8,000 0 0 Less mortgages taken Investments Fluctuation Reserve Fund.. 6,000 0 0 over on office preReserve for unearned premiums .. 40,305 10 4 mises purchased .. 6,400 0 0 Premiums and other deposits .. .. 900 14 11 —■ — 40,825 1 7 Outstanding fire losses .. .. 3,380 0 0 Outstanding premiums .. .. 8,753 010 Government taxes .. .. .. 14,867 6 6 Interest accrued but not due .. .. 1,792 8 2 Interest accrued but not due on mortgages 64 13 10 Rent accrued or due .. .. .. 33 9 0 Other amounts owing by the Office— Cash in Bank- of New ZeaReinsurance premiums £ a. d. land at Wellington, or in £ s. d. due .. .. 10,835 15 9 transit to Wellington.. 44,962 12 7 Commission.. .. 1,532 9 2 Imprest Account balances— Rent . . . . , 130 9 7 £ s. d. Printing, stationery, Head Office 015 3 and advertising .. 23 1 3 Auckland .. 917 0 Postages and sundry Christchurch 76 16 4 charges .. .'. 277 13 7 Dunedin .. 234 17 6 12,799 9 4 Palmerston Fire-insurance funds, as per Revenue North .. 8 2 1 Account .. ... .. .. 37,043 1 4 New IMvmoutli '.. 106 8 5 — 436 16 7 —.45,399 9 2 £288,349 15 3 £288,349 15 3 26th February, 1920. C. R. C. Robieson, Ceneral Manager. Examined and found correct. —R. J. Collins, Controller and Auditor-General.

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