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FIRE AND INLAND MARINE INSURANCE COMPANIES.   231 LONDON AND LANCASHIRE FIRE—Continued.

EXPENDITURE IN CANADA.

Amount paid during the year for losses occurring in previous years (which

losses were estimated in the last statement at $4,168.60)    8

3,481

77

Amount paid for losses occurring during the year    S

85,692

56

Deduct amount received for reinsurance   

166

51

Net amount paid during the year for said losses    

85,526

05

Net amount paid during the year for losses in Canada    

$   89,007

82

Commission or brokerage, including commission on profits    

35,899

65

Salaries, fees and all other charges in Canada    

5,831

58

Taxes    

2,375

85

All other payments in   Canada, viz.:—Advertising,   $314.40 ;   rent,

$924.96 ;   ma 's   and   plans,   8712.10 ;   inspection   and   travelling

expenses,   $1,641.37 ;   miscellaneous,   $657.36 ;   stationery   and

printing,   $1,183.64; postage, telegrams and express, 81,281.96 ;

underwriters'   associations,   81,087.82 ;   office expenses, 8307.45 ;

duty, 8177.42    

8,288

48

Total expenditure in Canada    $   141,403

38

RISKS AND PREMIUMS.

Fire Risks in Canada.   No.   Amount.

Premiums.

Gross policies in force at date of last statement ....   17,729   8   20,694,526   $

256,883

07

Policies taken during the year—new    11,153   9,873,980

120,119

62

do   do   renewed    4,316   7,869,398

99,539

54

Total    33,198   8 38,437,904   8

476,542

23

Deduct terminated    11,644   15,245,969

194,427

57

Gross in force at end of year   21,554   8 23,191,935   8

282,114

66

Deduct reinsured   621,947

7,299

78

Net in force at 31st December, 1896 ..   21,554   8 22,569,988   8

274,814

88

Total number of policies in force in Canada at date   21,554

Total net amount in force    $ 22,569,988 00

Total premiums thereon    274,814 88

GENERAL BUSINESS STATEMENT FOR THE YEAR ENDING 31ST DECEMBER, 1896.

The net premiums after deducting those paid to other companies in reduction of this company's liabilities, amounted to £836,165 8s. 9d., against £847,094 16s. 7d., in 1895.

The net fire losses incurred in 1896, including full estimates for such as were not adjusted at the closing of the books, amounted to £459,589 15s. 4d.

After providing for all commissions, expenses, depreciations, bad debts and other charges, the credit balance on the working of the year's business stands at £84,800 Os. 6d., in addition to £36,116 10s. 1d., for interest on investments, making a total of £120,916 10s. 7d.

The directors propose to pay on the 7th proximo, a dividend of 7s. per share, free of income tax, making with the interim dividend of 3s. per share paid in November last, a total distribution of £42,550, or 20 per cent on the paid up capital.

4—167


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