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Article SUMMARY OF NEWS FOR FEBRUARY. ← Page 4 of 6 →
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Summary Of News For February.
COMMERCIAL . On the 28 th of January , the Mexican Mining ^ Association empowered the Directors to raise £ 6 , 500 , to work the concern . On the 29 th , the Maraquita Company divided Is . per share on their profits for the last half-year .
On the 30 th , the Australian Agriqultural Company met , and reported that the expenditure for the year exceeded the income by £ 4 , 410 . On the 1 st , the International Telegraph Company divided their profits at the rate of Z \ per cent , forthe half-year . On the 5 th , the London and County Bank divided 6 per cent , out of the profits of the last half-year , added £ 500 to the Provident Fund / and carried £ 7 , 795 . 14 s . 3 d . to the next account . —^^ _^_
On the 6 th , the National Discount Company declared a dividend for the halfyear of Ss . per share ( £ 5 ) paid up . The same day , the Scottish Australian Company declared ^ dividend of 8 per cent , per annum . On the 10 th , the Peel Eiver Company declared a dividend of Is . per share . The Eailway Companies have been holding their usual half-yearly meetings , and making the same dividends as heretofore .
PROVIDENX The London Life Assurance Company met on the 2 nd . We take the following from the report . On the 31 st of December last , the guarantee fund amounted to £ 615 , 868 , and the directors had agreed to adividend of £ 2 . 10 s . per share , equivalent to 25 per cent , upon the paid-up capital of the company , payable on the 6 th
of April next . On the 1 st of January , 1856 , the balance of the assurance fund was £ 3 , 786 , 488 . The new premiums for the year amounted to £ 14 , 218 , and the renewals to £ 296 , 130 , and the balance on profit and loss to £ 130 , 483—in all , £ 413 , 832- —which , with the above balance , made the total amount of insurance fund , on the 31 st of December , £ 4 , 200 , 320 , short the expenses of the year .
The Mutual also met in the course of the month , and reported that in the year 1856 the directors had issued 243 new policies , assuring £ 126 , 400 , and producing an income of £ 4 , 326 . 5 s . 2 d . The invested fund had increased during the year £ 27 , 725 . 7 s . 5 cL , and the fund , after payment of all claims and expenses , now amounted to £ 263 , 568 . 13 s . Id . The increase of business had not been attended by a proportionate increase to the amount of loss . The claims which might have been reasonably expected were from 28 to 30 lives , and £ 21 , 000 in sums assured .
Those actually occurring within the year were on 22 lives , and £ 12 , 700 in sums assured . The total money loss in the year 1856 was £ 15 , 283 , against £ 26 , 780 in 1854 , and £ 23 , 347 in 1855 . Since the commencement of the present year , only one loss had occurred , in a policy for £ 500 ; and the new premiums received since the 1 st of January were larger than had been received during a similar period for several years . The report concluded by announcing that the members would receive , in a few days , a circular informing them of the additions made to their respective policies .
A special meeting of the members of the Briton Life Association was held on the 5 th ult ., for the purpose of considering the propriety of amalgamating the business of the Brunswick Life Office ; Mr . B . W . Wells , presided , and the report of Mr . Walker , the consulting actuary , was read , detailing the terms on which it was proposed to amalgamate the business of the two Offices , The chairman explained , that the Brunswick Office had a safe and respectable connection—that the annual income was secured upon the ordinary risks , and that the Directors were unanimous in recommending the amalgamation . The amalgamation was agreed upon , and resolutions to that effect were carried nem . con .
BENEVOLENT . On the 5 th the annual meeting of the Governors of Middlesex Hospital was held , when it was stated the ordinary income for the twelvemonth had been £ 6 ; 617 . 10 s . 6 d . and the ordinary expenditure £ 11 , 511 . Os . 3 d . ; the excess of the
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software.
Summary Of News For February.
COMMERCIAL . On the 28 th of January , the Mexican Mining ^ Association empowered the Directors to raise £ 6 , 500 , to work the concern . On the 29 th , the Maraquita Company divided Is . per share on their profits for the last half-year .
On the 30 th , the Australian Agriqultural Company met , and reported that the expenditure for the year exceeded the income by £ 4 , 410 . On the 1 st , the International Telegraph Company divided their profits at the rate of Z \ per cent , forthe half-year . On the 5 th , the London and County Bank divided 6 per cent , out of the profits of the last half-year , added £ 500 to the Provident Fund / and carried £ 7 , 795 . 14 s . 3 d . to the next account . —^^ _^_
On the 6 th , the National Discount Company declared a dividend for the halfyear of Ss . per share ( £ 5 ) paid up . The same day , the Scottish Australian Company declared ^ dividend of 8 per cent , per annum . On the 10 th , the Peel Eiver Company declared a dividend of Is . per share . The Eailway Companies have been holding their usual half-yearly meetings , and making the same dividends as heretofore .
PROVIDENX The London Life Assurance Company met on the 2 nd . We take the following from the report . On the 31 st of December last , the guarantee fund amounted to £ 615 , 868 , and the directors had agreed to adividend of £ 2 . 10 s . per share , equivalent to 25 per cent , upon the paid-up capital of the company , payable on the 6 th
of April next . On the 1 st of January , 1856 , the balance of the assurance fund was £ 3 , 786 , 488 . The new premiums for the year amounted to £ 14 , 218 , and the renewals to £ 296 , 130 , and the balance on profit and loss to £ 130 , 483—in all , £ 413 , 832- —which , with the above balance , made the total amount of insurance fund , on the 31 st of December , £ 4 , 200 , 320 , short the expenses of the year .
The Mutual also met in the course of the month , and reported that in the year 1856 the directors had issued 243 new policies , assuring £ 126 , 400 , and producing an income of £ 4 , 326 . 5 s . 2 d . The invested fund had increased during the year £ 27 , 725 . 7 s . 5 cL , and the fund , after payment of all claims and expenses , now amounted to £ 263 , 568 . 13 s . Id . The increase of business had not been attended by a proportionate increase to the amount of loss . The claims which might have been reasonably expected were from 28 to 30 lives , and £ 21 , 000 in sums assured .
Those actually occurring within the year were on 22 lives , and £ 12 , 700 in sums assured . The total money loss in the year 1856 was £ 15 , 283 , against £ 26 , 780 in 1854 , and £ 23 , 347 in 1855 . Since the commencement of the present year , only one loss had occurred , in a policy for £ 500 ; and the new premiums received since the 1 st of January were larger than had been received during a similar period for several years . The report concluded by announcing that the members would receive , in a few days , a circular informing them of the additions made to their respective policies .
A special meeting of the members of the Briton Life Association was held on the 5 th ult ., for the purpose of considering the propriety of amalgamating the business of the Brunswick Life Office ; Mr . B . W . Wells , presided , and the report of Mr . Walker , the consulting actuary , was read , detailing the terms on which it was proposed to amalgamate the business of the two Offices , The chairman explained , that the Brunswick Office had a safe and respectable connection—that the annual income was secured upon the ordinary risks , and that the Directors were unanimous in recommending the amalgamation . The amalgamation was agreed upon , and resolutions to that effect were carried nem . con .
BENEVOLENT . On the 5 th the annual meeting of the Governors of Middlesex Hospital was held , when it was stated the ordinary income for the twelvemonth had been £ 6 ; 617 . 10 s . 6 d . and the ordinary expenditure £ 11 , 511 . Os . 3 d . ; the excess of the