For presentation to the Shareholders at the twenty-fifth ordinary meeting to be held at the Society's Offices at noon, on Thursday, the 20th October, 1898, The Directors have now to submit to the Shareholders a Report of the business of the Society for the year 1897, and for the six months ending the 30th June, 1898, 1897.—The net Premium collected for the year, after deducting Returns and Rein-Surances, amounts to $1,925,714,80. Atter providing for a bonus of 20% ea Contributions paid in May last, there remains at Credit of working account a balance of $415,983.85 as per annexed statement.
From this sum the Directors recommend the payment of a dividend of $17 per Share, equivalent to 34% on the paid-up Capital of $50 per share, and an addition to the Reserve Fund of $40,000 raising the Reserve to $1,300,000. The balance remaining of $205,933.85 they propose to carry forward and thus close the account for the year 1897.
1898.—The position of the Society for the present year, as far as it can be ascertained, is as follows Balance of Working Account to the 30th June a8 per annexed statement...6 874,192.12 Add estimate of Premium to 30th September... 550,000.00
Text read from the printed page and cleaned; old type leaves the occasional error.