NATIONAL OF IRELAND—Continued.
GENERAL BUSINESS STATEMENT FOR THE YEAR ENDING 31ST DECEMBER, 1896.
The premium, less reassurances, for the year amounted to £276,487 9s. 8d., as compared with £302,286 9s. 6d. in the previous year. The fire claims, including pro-vision for all outstanding losses, were £194,385 4s. 4d. The commission and expenses were £92,755 11s. 5d., showing an adverse balance of £10,653 6s. ld. on the year's working. The reserve fund after adjustment, will stand at 1100,760 1s. 5d., which in relation to the income, shows only a fractional difference as against 1895. The reduction in the premium income is to some extent due to causes outside the control of the directors, but more largely to the cancelment of unprofitable business, a policy which may be expected to show more favourable results in the future.
PROFIT AND LOSS ACCOUNT.
The balance of the profit and loss account, after deducting the final dividend of 3 per cent for 1895, and the interim dividend of 2 per cent for 1896, paid in August last is £9,571 10s. 4d., out of which the directors recommend the payment of a further dividend of 3 per cent, being ls. 6d. per share, making together 5 per cent for the year, after payment of which £6,571 10s. 4d. will be carried forward to next year's account.