The Portland daily press., 1869-09-24
ROYAL
Insurance Company.

Insurance Company.
From the liverpool Journal Of Commerce, Saturday
august z, 1869.
The Annual General Meeting OF the Shareholders
oil this Company was held yesterday at the Offices,
North John Street, Mr.. CHARLES TURNER, NJ. p,
presided, and there was large attendance of pro-
prietOrs.
REPORT FOR The YEAR 1868
Before entering upon report of the results OF the
business for the year 1861 your directors have the
melancholy duty ofrecording the death ofMr. Percy
M. Dove, who occupied the position OF manager and
actuary to the company from its establishment in
IS45. Mr.. Dove performed the duties devolvng
upon him with distinguished ability; and mnch of
the marked success which the company has achieved
may be attributed to the energy and enterprise he
displayed in Its service. Mr.. John H. MLaren,
formerly sub-manager of the company, has been
appointed manager,
FIRE DEpARTMENT.-The fire premiums for the
past year ammount to the sum of e475,572 Us. Sd.
1921 $780, gold) and the fire losses to 1929 9O1 It's.
I'd S1, 499 5O5 gold). This ratio of loss, it will be
observed is lower than has been for several years.
but is still considerably in of the experience
of the company in its early history. The new ele-
ments of risk which have been referred to in previ-
GUS reports, and the decreased rates of premium
prevailing, have both tended to diminish the profits
offre insurance business, and necessitated more
minute scrutiny of the results of the various branch
es OF this department. 1t is gratifying to report
that by the practical application of the results of
these and former investigations, the company has
escaped during the year, losses amounting to Esq.,
$780, ($i11 ,740 risks that had been declined. 1t
may, therefore, be reasonably anticipated that q
continued watchul oversight of the business and a
judcions economy in expenditure will secure, on an
average of years, fair though moderate, profit for
the shareholders, and 1t is satisfactory to add that
such profit has been realized on the transactions
of the past twelve months. The total amount added
to the credit OF profit and loss on account of the
British and general foreign business including in
terest for the period, is e3o94O 7s s154 7OO while
the profit realized in the American branch is e29 2
2s.($131 7O1). The abolition OF the fire insurance
duty will have an important influence upon this de-
partment, and will no doubt, prove Of much benefit
to the country.
LIFE DEPARTMENT.-The result of the operations
for the year in this department are still more salts
factory.
An important measure has been introduced into
Parliament, with the object of obtaining more
complete exposition of the affairs of life assurance
Offices Your directors have always very fully COM
piled with all the requirements OF the acts under
which the operations of the company have been con-
ducte6 and on the present occasion, anticipating
the operation of the new act, it will be found that
the accounts which will be presented to you in are
conformity with the models appended to the BILL
DIVIDEND AND BoNUs.-The Directors beg now
to recommend that dividend OF s. per share and
bonus Of As. per shave together 7s) free of income
tax, be declared. These payments will absorb e34-
s5s 19s, Id. s171,79O OF the fire profits. The total
sums, therefore Irrespective of the amount carried
direct to the fund.- added to the funds of the
company, being the surplus of the year, after pay
ment of dividend and bonus, annuies, and all loss
es and expenses are: To the fire department, e22-
1928 lid ($114 4l5); to the life department Ella 945
12s 3D. ($724 725; together, e167 $685. g. Id. $780,
345). ..,,r
CHARLES TURNER, Chairman.
9th August, 1869. sep23-3t