RETORT, The Directors have naw to submit to the shareholders the report on the business of the Society for the year 1880 and for the six months ending 30th June, 1881.
1880.—The net premium collected for the year, after deducting returns and reinsurces, amounts to $1,102,794.48.
Alter providing for' the payment of $281,059,87 as an interim bonus, dividend and Reserve Fund declared Inst May, the balance at credit la $129,612.43 as per annexed otatement of working account.
Out of this sum the Directors propose to pay @ second bonus of 2% on contributions, place $2,810.60 to Reserve Fund.
A accend divideot of $13.11 per share, and to will absorb $28,105.98, leaving a.bal $101,506.45 against which there are and losses still unpaid estimated at $101,000 ccount for 1880, im dividend of $120 per share was paid in May last, and the balance of SILIG por share as per annexed account iv now adjusted and will be paid with the and dividend, 1881,—' position of the Society for the present year as far as it can be ascertained 44s followa Balance of working account to 30th Juae, $437,688.68 Estimated premium Tes it Deduct estimate of lost Directors.—Owing to the resign Hou, W. K the Hon, F. B. Johns wae invited the Board and hiv elect now requit tion of the meeting.
accordance with clause 109 of the Articles of Awsociation Mesers. H. L. Dalrymple and W. H. F. Darby retire, but offer themselves for re-election, Auditors.—Ia the absence of Br. R. Lanes, the Board appointed Mr. A. Wemyss to audit Mr, A. Wemyss retire, but offer themselves for r Chairman,
Text read from the printed page and cleaned; old type leaves the occasional error.