322 



The Review of Reviews. 



March to, 1906. 



INSURANCE NOTES. 



The annual meeting of the Citizens" Life Assurance 

 Co. Ltd. was held in Sydney on the 27th ult., 

 a large number of shareholdeivs being present. The 

 report showed that excellent progres,s had been made 

 during the year. Tlie new business in the ordinary 

 branch totalled £l,0c6,500, producing a new annual 

 income of £36,731. New assurances totalling over 

 £1,000,01)0 have been completed in this branch for 

 eight years in succession, fhe funtls at December 31, 

 1905, amounte<l to £1,538,372, the increase for the 

 year being £219,205, the largest amount added in any 

 one year to date. The rate of interest earned was 

 £4 9s. 3d. per cent., an increase of i per cent, over 



1904. For the fifth year in .succession every penny 

 of interest actually due was collectetl. The rate of 

 interest earned ha.s steadily gone forward from £4 

 Os. lOd. per cent., in 1900 to £4 9s. 3d. per cent, in 



1905. Added to this, the expense rate has been con- 

 siderably lowered, the f)ercentage to total income for 

 the year being 13s. Id. in the ordinary branch and 

 39s. Ikl. in the industrial branch, the combined rate 

 for both branches beiiiff 24s. 8d. In 1904 these were 

 13s. 3d., 42s. 8d. an<l 2(5s. Gtl. per cent, respectively. 

 The policy of confentrating the management has been 

 continued, and has been found successful, and it is 

 anticipate<l that lor the current twelve months the 

 industrial branch business will be conducted at a 

 lower rate than any office in the world. The total 

 surplus for the year amounted to £71,217, and rever- 

 sionary bonuses were declared to policy-holders rang- 

 ing from £3 to £1 5s. per cent. The management is 

 to be congratulated on the successful year passed 

 through. 



The ship " Speke," 2712 tons, said to be the largest 

 three-masted ship in the world, while on her outward 

 v^oyage from Peru to Melbourne via Sydney, was 

 totally wrecked on the south coa.st of Phillip Lsland, 

 Victoria, on the 22nd ult. The vessel was a modern ship, 

 built in 1891, and classed 100 Al at Lloyd's. She left 

 Sydney on the 12th ult., and experienced veiy heavy 

 weather on her way round. When within ten miles 

 of Port Phillip Heads she spoke a steamer passing 

 inward, and asked for a pilot, but none was sent. 

 The wind rose to a gale, and raged for five hours, 

 during which time the vessel was being driven in 

 shore. The captain endeavoured to anchor the vessel, 

 but this failetl, and she was swept on to the rocks, 

 which at this spot are very rugged and precipitous. 

 It was seen that the vessel would go to pieces, and 

 the lifeboat was lowered with four men, and was 

 swampetl, one of its occupants being drowned. A line 

 was then succe.ssfully got ashore by the second mate, 

 and the whole of the remainder of the vessel's com- 

 pany saved their lives by its means. A few days later 

 the vessel began to break up, and has since gone to 

 pieces. The Marine Board held an inquiry into the 

 wreck, and a charge of careless navigation was pre- 

 ferred against Captain Tilston, and the case remit- 

 ted to the Court of Marine Inquiry for investigation. 



The clothing factory of Messrs. Davies, Doery and 

 Co., in Flinders-lane, was slightly damaged by fire 

 on the 27th ult. The fire originated on the first floor, 

 and was confined to that floor j portion of the stock 

 of woollens and made-up clothing therein being de- 

 stroyed. The stock was insured for £8500 in the Im- 

 perial office, and the building, which is owned by A. 

 Bowley and Co., was insured for £4000 in the York- 

 shire Co. 



CITIZENS' 



Life Assurance Company, Ltd. 



The Premier Industrial-Ordinary Life Office 

 of Greater Britain. 



HEAD OFFICE - - SYDNEY. 



The Company's Hecord for 1901 : 



Fuvds 



INCREASE IN FUNDS ... - 



Income •■. ... ... ... .^ ^ 



INCREASE IN INCOME ._ .- 



Paid Policyholders since Inception... 



PAID POLICYHOLDERS in J904... 



Profits, ID the form of Reversionary 

 BoQustrs, A lotted to Policyholders 

 since Inception ... 



PROFITS, in the form of Reversion- 

 ary Bonuses, allotted to PoUcy hold- 

 en for J904 



Expenses — 



DECREASE FOR YEAR 



£i, 346,606 

 201,346 



£436,326 

 26,774 



£891,590 

 108,931 



£395,525 



61.075 

 £J2.13! 



THV 



COLONIAL MUTUAL 

 . . FIRE . . 



INSURANCE COMPANY LIMITED. 



FIRE 



ACCIDENT - 



EMPLOYER'S 

 LIABILITY 



FIDELITY 



GUARANTEE 



PLATE-CLASS 

 BREAKAGE 



MARINE 



BURGLARY • 



Insurance. 



OFFICES. 



MELBOURNE— 60 Market Street. 



SYDNEY— 78 Pitt Street. 



ADELAIDE— 71 King William Street. 



BRISBANE-Creek Street. 



PERTH— Barrack Street. 



HOBART— Collins Street. 



LONDON— St. Michael's Alley, Cornhill, B.C. 



WM. L. JACK, 



Managbk 



