LONDON AND LANCASHIRE.
The increase announced in the dividend of the London and Lancashire Insurance Company from 14s. to 15s. is thoroughly justified by the character of the Annual Report. After providing for the Final Dividend, the surplus carried forward to Profit and Loss was increased from £1,224,000 to £1,452,000. In fact, apart from deductions for Income Tax and £25,000 set aside for Staff Pensions, practically all underwriting Profits were retained and added to Reserves in one form or another. The Funds of the Company, including the Life Funds of the Law, Union and Rock and the separate Funds of the auxiliaries owned and controlled by the London and Lancashire Insurance Company increased by more than £1,100,000 to the present figure of £18,877,000. A. W. K.