Page
20
THE CHINA MAIL, MAY 3, 1940
PRESIDENT LINER
SAILINGS
TRANS-PACIFIC SERVICE
To
SAN FRANCISCO & LOS ANGELES Via Shanghai, Japan & Honolulu ROUND-WORLD SERVICE
To
NEW YORK & BOSTON Via Manila, Singapore, Penang, Colombo, Bombay, Suez, Port Said, Alexandria, Naples, Genoa.
✰✰ AMERICAN ✰✰
PRESIDENT LINES
“ROUND-World serVICE.”
AGENTS FOR T.W.A. AND UNITED AIR LINES.
12, Pedder Street.
Telephone 28171.
KAIPING COAL
HOME,
FACTORY
AND
BUNKERS
FOR ALL PURPOSES
POWER
HOUSE,
TUGS &
LOCOS
THE KAILAN MINING ADMINISTRATION
Head Office :— TIENTSIN.
Agents : DODWELL & CO., LTD., Hong Kong.
INDO-CHINA
STEAM NAVIGATION COMPANY, LTD.
OPERATING SERVICES FOR
CARGO and PASSENGERS
TO-SWATOW, SHANGHAI, TSINGTAO, CHEFOO and TIENTSIN
KOBE and OSAKA
SINGAPORE, PENANG and CALCUTTA
SANDAKAN, HAIPHONG
All steamors berth alongside the Roosevelt Terminal in the French Concession at Shanghal, where pas
sengers and cargo are landed.
For Further Particulară Please Apply To
JARDINE, MATHESON
& CO., LTD.
GENERAL MANAGERS. TELEPHONE – 30311.
".
Akim Tamiroff, as the great surgeon and medical school pro- fessor of Paramount's "Disputed Passage", prescribed a romance- less life for his favourite student, In this scene with the student's John Howard cast ав the sweetheart, Dorothy Lamour. With
object of the discussion the picture opens to-morrow simultaneously at the Queen's and Alhambra Theatres.
UNION INSURANCE SOCIETY
(Continued from page 17)
A
be
suggest that the experience gained by big organizations who, at the outbreak of war. view, I am certain that shareholders will transferred their records and the greater consider that the results of fire underwril-portion of their clerical staff to the coun-- ing are satisfactory. The same may be try where rents are lower and living con- said with regard to the accident and gen-ditions healthier may very well induce them
the, war to maintain to continue after eral departments which again for the so- cond year shows a profit in place of the country office where the records will losses which were previously incurred for kept and the routine clerical work carried on. As a result only the executive of such organizations will remain in London.
overhead with a consequent reduction in charges and benefit to all concerned.,
China Fire
some years on this account.
the
I am sure that the shareholders of Society will endorse the recommendation of the directors as to the final dividend for the year 1939 thereby adopting a conserva- tive policy owing to uncertainty as to the future particularly as regards the returne on our investments: Legislation at home has already been enacted to restrict divi- dends.
At the China Fire Insurance Co. meeting, the chairman said:--
The 1938 marine account has been closed." off by transferring the sum of $204,437.24 to the reserve for outstanding losses, while ** sum of $100,840.34 has been transferred to profit and loss account.
During the last two years our chairman in his annual speech has referred to the contingency guarantee claims and although it has turned out that the finalization of these claims has proved heavier than was anticipated, it is gratifying to know that respectively have also been transferred to they have at last been settled and no long-profit and loss account, er need be taken into account in consider. ing the future prospects of our Society,
From the fire and accident and general accounts the sums of $83,361.34 and $10,084.03 ·
IN BRITISH ISLES
are
So far as the balance sheet figures concerned, you will notice that the totals show a substantial increase over the pre-- vious year. This is due to exchange, larger amount of cash on deposit- and cur- rent accounts, and an increase in amount of sundry debtors and branch and agency balances.
It is extremely difficult in these days even for an insurance company of the standing of the Society to extend its business into areas already the monopoly of others and it was mainly to overcome this that the So- clety acquired the British Oak Insurance Co., Ltd., which has a potential field for development in Great Britain. Up to the outbreak of War it is gratifying to note that results shown from such acquisition were satisfactory and I have no doubt in my mind per share, the same as last year.
the
the....
The increase in the amount owing to us - is accounted for by the larger marine pre--~. mium income written.
Your directors recommend a dividend of
$12 per share and a bonus dividend of $6
British Traders
+
At the British Traders' Insurance meeting, the chairman said:-
Co.
been
that subsequent events will prove wisdom of our having made this purchase,
We fully support the remarks made in regard to the work of the Society's staff throughout the world and particularly ap preciate the response of our London staff to the extra calls made upon them through | £22,817.14.4. to the outstanding loss reserve the necessary transfer to a place outside London. In this connection I venture to
.The` marine account for 1938 has closed off by the transfer of the sum of
to meet subsequent claims, while a sum of £11,250 has been transferred to profit and loss account,
...
V
The sums of £11,500 and £1,125 respectively have been transferred from the fire and accident and general accounts to profit and it loss account...
The marine income shows a substantial=" increase. This is largely accounted for by- war risk business, the outcome of which it is of course quite impossible to forecast.“
Turning to the balance sheet. I would- draw your attention to the fact that the reinsurance fund now stands at a round” figure of £200,000, the balance over
and" above that amount having been transferred” to exchange and investment fluctuation ac- count which now stands at a substantial figure of over £40,000.
Your directors recommend the payment of a dividend of. 78.00, per share, being the same as last year.
At all three meetings, Messrs. J. Owen' Hughes and H. V. Wilkinson were re-elected" directors and Lowe, Bingham and Matthews and Linstead and Davis re-appointed audi- - tors.
ROYAL TOUR OF WAR INDUSTRIES
London, To-day.
Continuing their tour of South Lancashire, the King and Queen yes-- terday visited more armament fac-
in allTM tories, where they saw tanks stages of construction. They later watched one tank being put through a test run.
They spent Wednesday night in- the Royal Train at the side of Lake- Windermere.-Reuter.