Report presented to the shareholders at the twenty-fourth ordinary. meeting held at the Company's offices on Wednesday, the 22nd February, 1893.
their Annual Report and statement of the The Directors have the pleasure to present Company's accounts made up to the Slat December last, 1891.—The balatice at credit of working account, as per last Report, w oses on $248,208.47 Deduct Dividend "of "$3 per share. paid in_ 1802......860,000.00 Claims under 1891 policies 19,417.82 mia, &e., &e. 7,167.78 86,585.55
Balance of profit The Directors will propose that this sum be apportioned as follows: $60,000 to shareholders as a final dividend for the year 1801, and a bonus of $1 per share in addition (making in all 7, or 35 per cent. on the paid-up capital); $32,712.92 as a bonus to contributors of hi and the balance, $46,000, to reserve fund, thereby inicreasin, thesame to $823,000, which they trust wil be sanctioned.
1392.—There has been a falling-off in the amount of Premia collected, caused partly by the diminished volume of trade during the year, and partly by the constant reductions in rates accepted by other companies, which in many cases it has been found necessary to follow. The Shareholders have cause. however, to be congratulated upon the moderate losses incurred to date, and the Directors will propose that the usual interim Dividend of per Share be paid.
jrectore:—Messts. A. McConachie and RB. Sassoon were: invited to fill vacancies on the Board, and Messrs. C. Jantzen and J. Kramer to occupy the seats vacated. by Messrs, Mickaelsen and Poemecker on their departure' from the Colony,. These appoint. ments will require confirmation,
Text read from the printed page and cleaned; old type leaves the occasional error.