Towns > Glasgow > 1828-1912 - Post-Office annual Glasgow directory > 1876-1877

932 ADVERTISEMENT,
NORTH BRITISH AND MERCANTIL
ESTABLISHED ----_____ 1809.
SUBSCRIBED CAPITAL-TWO MILLIONS.
THE SIXTY-SIXTH ANNUAL GENERAL MEETING of the NORTH BRITISH
AND MERCANTILE INSURANCE COMPANY was held within the Company's
Offices, 64 Prince's Street, Edinburgh, on Friday, 2lst April, 1876, in terms of the Constitu--
tion of the Company —
Right Hon. LORD LAWRENCE, Chairman of the General Court of Directors,
in the Chair.
A Report by the Directors was read, showing the following results for the year 1875 : —
FIRE DEPARTMENT.
The NETT PREMIUMS received during the year 1875 amounted to, £860,392 1 1 4
The Losses by Fire during the year were, ...... 456,146 8 3
This embraces not merely all losses actually ascertained and paid, but includes a full estimate
of all claims that had arisen prior to 31st December, the amount of which was not actually
ascertained at the date of closing the Books for the year.
After Payment of the Losses as above stated,' and the Expenses for the year, including the
Payment of a Dividend of 28 per cent, and Bonus of 10s. per Share, the Reserve Fund and
Premium Reserve amount to £980,744 14s. 5d.
Showing, as compared with these Funds at 31st December, 1875, an increase of £153,506
7s. 6d.
LIFE DEPARTMENT.
1121 NEW POLICIES were issued, insuring £896,483, and adding to the Revenue the sum of
£27,757 2s. 8d. of New Premiums.
The Claims which had been paid during the Year were 291 in number, arising under 343
Policies, and the Sums Assured amount, with Bonus Additions, to £257,897 Os. 4d.
In the ANNUITY DEPARTMENT 49 Bonds had been granted, securing Annuities to the
amount of £3237 lis, 5d. yearly, for which was received the sum of £27,701 2s. lid.
The ACCUMULATED FUNDS in the Life Department, which by the Company's Act of
Parliament, 1870, are specially invested to meet the liabilities of that Department, and are not
responsible for any other obligations of the Company, amount, irrespective of the Paid-up Capital,
to £2,487,199 Os. 3d.
CHIEF OFFICES.
EDINBURGH, .... 64 PRINCE'S STREET.
LONDON, .... 61 THREADNEEDLE STREET.
GLASGOW BRANCH.
O F F I C E-1 02 ST. VINCENT STREET.
Chakles Tennakt, Esq. of the Glen, Chairman.
Thomas Claveking, Esq., Merchant.
William Scott, Esq., Merchant.
RoBEET GouELAY, Esq., Bank of Scotland.
Wm, West Watson, Esq., City Chamberlain.
J. T. Cairo, Esq., Engineer, Greenock.
John M. Hill, Esq., Writer.
Local Manager — G. W. Snod grass.
Local Secretary — D. L. Laidlaw.