The report of the directors for 1914 states that, following the intimation made by the chairman at the annual general meeting last year, the accounts are this year submitted in a new form, comprising revenue account, profit and loss account, and balance sheet. It is in this form that they are presented to the Board of Trade, but they are submitted to the shareholders more concisely, without the volurinos details required by that Depart ment. The premiums for the year are £1,992,177, against £1,734,967 for the year 1913. The directors have already paid an interim dividend of 5/- per share, and now recommend a further dividend of 11/- per share (free of income-tax), making together a dividend of 16/- per share for the year. This will absorb £80,000.
Text read from the printed page and cleaned; old type leaves the occasional error.