, 1876-09-27
THE ROYAL INSURANCE COMPANY,
ANHuAL MEETING OF SHAREHOLDERS.

8bA u S0IRu OAONhAOO0uhb Ou1Ab L0bs PAON
siding. There was q large attendance Of
shareholders.
Mr.. M'LAREN, the manager, having read the
Botice convening the meeting, it was resolved
to take the report Of the directors and state
meDt of accounts as read. The report was as
follows t.
PRE- DEPARTMENT.
The Directors have the pleasure of reporting
that the results of the operations for the year
1875 have been highly satisfactory as respects
the amount of profit.
The Fire Premiums for the year amounted
to &7A2, 553, and the losses to 1885, 16l i2S.
sd. After the deduction of agents commission
and all management expenses, the net profit
for the period, including interest on Fire Fund
and current balances, amounted to e2l6,459
1Ss. Id.
During the year there has been a considera-
BILE diminution Of the revenue Of the North
American BrancheS-in great measure attri-
butable to a further important reduction in the
high rates of premium which were current after
the great CONGREGATIONS in Chicago and Boston,
It may be anticipated that this red lotion will
still further impair the revenue of these
branches during the year 1876.
LIFE DEPARTMENT.
During the year new proposals were accept
ed for &504,347, and the corresponding annual
premiums obtained to the closing of the ac-
counts were 9l6,441 los. Cd. The proposals
declined during the period amounted to ce74,034,
The total income from premiums. after deduct
ing re-assurances, amounted to 9240. 963 14sr
and the interest received from investments,
exclusive of that on the Annuity Funds, was
875,699 Is. Cd. =
The claims during the year vera.
BY death '-Original sums as
sured.... ..R125,222 Ia 9
Bonus additions thereon 4.4I1 I3 s
BY matured policies (including
Cbildreh's ~endOwments) t.
Original sums assured. 1900 0 0
Bonus additions thereon 6S2 0 0
sI44,9I6 S 5
IL the Annuity Branch the purchaso-money
received for new a%nnuilies, together with the
premiums on contingent a%nnuities, amounted
TO 6&I0,527 %. Sd and the interest to 1924
l6s. Sd. Twenty nine annuitants have died
during the year, the annual payments to whom
amounted to t9S56 SIS. 4d.
The result Of the operations for the year is
that, after payment of all claims, aunuilies.
bonuses in cash, and expenses of every descrip-
ton, 8l23, 1875 81. 81. has been added to the
Life Funds, making the total acoumulations of
Life and Annuity branches of the company
f ,976, LAG lis. Cd.
PROFIT AND LOSS,
The amount at the credit of
the Profit and Loss &C.
count, after payment Of
the Dividend and Income
Tax for the year 1874,
was...........-.... teIo9,1o4 3 2
To which have been added
Fire Profit for the year. 216,459 IA /
Interest, &o..........., 1890 16 9
te360,494 IA 0
----
Of this sum &150,00O has been carried to
Reserve Fund, which now amounts to
$500, 900 and R45, 1862 los. has been added
to Fire Fund, thereby raised to 4400, 900,
leaving 9165,132 as. at the credit of the ao-
count at the end of 1875.
DIVIDEND N BONUS.
In addition to the Interim Dividend of So.
per share paid In February last, the Directors
now recommend a further payment from profit
and loss of So. Dividend, and SIS. by way of
Bonus, making together 15s. per share, free of
income-tax.
After providing for payment of the dividend
and bonus. the Funds of the company will
stand as follows =
Capital paid up.......... e289,545 0 0
Ere Fund .............s 100000 0 0
Reserve Fund. ......... 100000 0 0
Balance of profit and loss 92,745 10 0
Life FundS............. 1876. l46 II 9