ALHAMBRA
NATHAN
TO-DAY & TO-MORROW.
KEN RACES INTO ACTION WITH TAZAN AGAINST THE BLONDE BANDIT OF THE RANGE!
KEN
MAYNARD Western Frontier
Directed by Albert Herman --- A Columbia Picturé
THURSDAY.
New Universal
Picture
DAILY
720 9:20
SHE'S DANGEROUS
with Tala Birell-Cesar Romero
HANKOW
STARE
TO-DAY AND TO-MORROW
THRILLS! ...
LAUGHSÌ
CRACKLING ROMANCE!
THURSDAY
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GLENDA
DONLEVY FARRELL NORMAN FOSTER - HELEN WOOD ROBERT MCWADE
Sp
Smeets, Allge Own
KOWLOON
Universal Picture 3 SMART GIRLS"
RADIANT
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WED. May 19, 5.30 p.m. "PERSONAL INFERIORITY A CHRONIC DISASTER”. continuing Thurs. & Fri.
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NEWSPAPER
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THE CHINA MAIL, MAY 18, 1937.
CANTON INSURANCE. OFFICE MEETING
ENCOURAGING FIGURES FOR 1935 AND 1936 PRESENTED
be
Encouraging figures were pre- ment of the ratio between Interim and sented by the Hon. Mr. J. J.Final Dividends and should not Paterson at the annual meeting taken as any sort of indication that there will be a further increase in of shareholders of the Canton next year's distribution. Insurance Office, Limited, held this morning.
A compari-
MARINE INSURANCE
The Chairman said:--It is very pleasing to your General Agents and I have little to say, with regard to Consulting Committee to be able again the position of “Marine" insurance Kong. cannot to lay before you such a satisfactory to-day; we, in Hong Account as that for the year 1935, keep in close touch with the current which has run off with a credit balance trend of affairs and it would be diffi- of $1,276,101.36. Premium Income calt for me to express any views of showed an increase of $205,003.62 over worth, considering how quickly things that for the year 1934, while Losses changé. N were down by $4,060.49.
The past year has been a difficult son of ratios between the two years one and the outlook at the moment pro- reveals Losses at 65.80% for 1985 as mises nothing in the way of improve- against 59.46% for 1934, Charges ment for the immediate future. The six 29.28%
and as against 30.46%
a months, spanning the close of last balance of 14.92% as against 10.08%. year, were responsible for many more The figure of Interest is up by than the normal number of casualties, $54,441.91.
individually not serious but collective- ly very much so, which are likely to leave their mark on underwriting ac- counts for 1936 and the current year The balance at credit of working in no uncertain manner. Account 1936, as. at the 31st December. The position on the London Market somewhat confused, last, stood at $2,212,031.92 an increase appears to be of $170,515.42 over that for the year though there are signs that Under 1935, at the same stage of working. writers, if given a strong lead, would It is impossible at present to make welcome any reasonable course likely any estimate as to the final outturn to effect an improvement in the pré- but, provided nothing untoward oc- sent unsatisfactory state of affairs. curs, there is every probability of its being somewhere about the same that for the year now under review,
A study of the Balance. Sheet shows
London is still very much the hub that the total of Assets has been aug- of "Marine" insurance and until Un- mented by $1,389,434.13, as expressed derwriters there call a halt, no material in Sterling the increase amounts to change can be looked for in other. - £32,224.0.6d. The Reinsurance Fund directions.
HIGHER BALANCE FOR 1936
26
:
.
LONDON THE HUB
is down by £4,973.19.7d, and up. by I now propose the following Reso- $126,773:46 in Hong Kong Currency,,lution:- while the Investment and Exchange Fluctuation Account shows increases £29,060.16.5d and $588,298.88, in. Sterl- ing and Local Currency respectively.
FLUCTUATION ACCOUNT -
**That the Report and Accounts, as presented, including the payment of a Final Dividend in respect of the year 1935 of $8 per share and an Interim Dividend in respect of the year 1936 of $5 per share; an addition of $200,000 to Reinsurance Fund and of $496,101.86 to Under- writing Suspense Account, be adopt- ed and passed."
Mr. Ho Kom-tong seconded and the report was unanimously adopt- ed.
The Funds have received, as always, the most constant care and attention on the part of your General. Agents and Committee and are in as good shape as we know how to make them Investments, in addition to being writ- ten down whereever we felt it was advisable, are further reinforced by the Investment and Exchange Fluctua-
Sir Robert Ho Tung, Messrs. D. E. tion - Account which, at the end of Clark, A. H. Compton, Felix A. Joseph, last year, stood at a figure in excess T. E. Pearce, J. H. Taggart, and S. of $2,800,000.
OTHER BUSINESS.
T. Williamson were re-elected to the The surplus to be dealt with is Consulting Committee on the proposal $1,276,101.36, out of which has been of Mr. J. D. Danby and seconded by paid an Interim Dividend of $3.60 per Mr. J. H. Seth.
Messrs. Lowe, Bingham and Mat- share. We now recommend a final payment of $8.00 per share, making thews and Percy Smith, Seth and Fleni- în all $11.60 per share, which willing were re-elected auditors for the of absorb $580,000; we further recom- ensuing year at a remuneration mend the addition of $200,000 to the $1,500 each, on the proposal of Mr. Reinsurance Fund and the transfer M. H. Lo and seconded by Mr. H. R. of the balance, amounting to $496,-Forsyth.
Hon. Mr. J. J. Paterson was in the 101.36, to Underwriting Suspense Ac- count to close 1985 and previous years. chair and was supported by the fol- Consulting The balance of $2,212,031, 92 at credit lowing members of the
of 1936 Account allows of the pay-Committee: Mr.. D. E. Clark, Mr. A. ment of an interim dividend of $5 H. Compton, Mr. T. E. Pearce,. Mr. per share for that year, leaving an J. H. Taggart, Mr. S. T. Williamson amount of $1,962,031.92 to be carried and Mr. H. W. Dulley, (Acting Secre- forward.
tary).
DIVIDEND DIVISION
The following shareholders · were also present: Hon. Mr. M. K. Lo, Messrs. Ho Kom-tong, Ho Sai-cheung
You will notice a difference in the D. Hung, Lo Cheung-ip, M. H. Lo, J. proportions of the Interim and Final D Danby, J. H. Seth, H. R. Forsyth, J. Fleming, W. L Mackenzie and M. Dividends, submitted for your appro-w, Lo.
val. For many years past the for mer has remained at $3.60 per share,"
or the equivalent of $18 on the old Nazis are believed to be responsible shares prior to subdivision in 1988. for violating graves and overturning We feel, however, that it is more fit-tamb-stones in the Jewish cemetery at ting that the Interim Dividend should Schleining, Austria. represent a larger proportion of the
the
amount, which eventually falls to be Field Marshal von Blomberg, paid; with this idea in view, we now German War Minister, and Gen. von propose that the Interim on account Fritsch, Commander-in-Chief of the of 1986 be raised to $5 per share Army, were present at the opening of which, with a Final Dividend of $8 the new German army records" office-in in respect of 1985, will give Share Potsdam. holders a return of $13, or $1 more than last year.
The British 'steamers Holburn Head,
I must impress on Shareholders, 489 tons, and Eskwood, 791 tons, were However, that this increase in the In-slightly damaged in a collision near tering Dividend is merely a readjust Gravesend, but no one was hurt.
.....