HONG KONG DAILY PRI
THURSDAY MARCH
1932.
BRITISH POLICY IN THE FAR EAST
(Continued from Page 3.)
Sir John Simon pointed out that the Japanese Government had de- clared that it was no more likely to recognise the now Administration than other countries.
Japan did not admit that it was an administration which she had not
up.
NEW STATE'S POSITION He would not say anything on the matter, one way or another. It would not do to accept as gospel information which was pre- Judicial to one side and refuse to wait for an enquiry. They must await the report of the Longue Commission..
attore as not to involve his coun: try in a situation which would only aggravate matters
This had boon carried out splen didly. The differences in viewpoint of the smaller and greater States had been reconciled and lastly the support of the United States had been socured.
1
There was a great deal still to be done, but what had been done show. ed that the League was the bes guarantee for the peace of the world.
་་
Patience and time for concilia- Lion would be ikcoasury, but this was a caso where the Longue wna; most likely to be useful as a medi. ating force.
Consunt reference to the stick you are supposed to have in your pocket was not the best way to enre compliance with your ad vice or to exert indance as * great world organisation.
E
SUN LIFE REPORTS PROGRESSIVE YEAR.
G.$527,939,214 NEW BUSINESS.
PRESIDENT'S OPTIMISMAS
TO PROSPECTS.
state-
Toronto:-The financial mont of the Sun Life Assurance Company of Canada for
1031, ILB presented at the 01st annual meeting of the company, indicates a strong posi tion and reflects a year of progrpan.. The new Administration, was not
as well as ending rumors heard ono. which he should think any It was a mistake to assume that from time to time during the past country was likely prematurely to the Langue necessarily gained of your that this company was li renognise for nobody recognised afective songth in such a cane by quidating United States maoutition. government established in such constant vnference to the weapon of, As compared with the preceding circumstances without the fullest sanctions. The 'ngth of the year, the portfolio is shown vir| enquiry into the circumstances and League, was founded on its position,tually intact, other than the addi- other .without being satisfied that it was as the exponent and interpreter of, tion of government and
toalling many millions.
a responsible government which | world opinion-one of the most, ter-bonds purchased during the your, could really administer its territory rifle forces in nature, and enter into "relations with foreign Powers and was also a Kuine expression of the decision of the inhabitants,
i
At the annual gathoring, sharé- FUND OF STRENGTH
holders bourd of a gain ol over The League had gathered an im thirty-six million dollars, gold, manre fund of authority und in sects that twenty-six millions: LEAGUE ACHIEVEMENTS: strength in this connection. Those were paid out or allotted during in close touch with proceedings: 1033.in dividends to policyholders, Summing up the achievements of Geneva during the last few months and of almost five hundred and the League, Sir John Simon, claim-
must be conscious that the exis twenty eight millions of new busi- ed that the proceedings at Geneys one of the League's power of a ness, bringing insurances in force in the past few months had showed
coercive character did not neces- over the three billion dollar mark. that members were loyally and effecsarily add, in every instance, to lie. The president, T. B. Macaulay, sively supporting the principle of effecáve strength as a mediating stated that the profits paid or al the Lenga and the duty of every forca. Some States might have to lotted to policyholders amounted Foreign Secretary so to conduct
join wholeheartedly in a declara to evar 828,000,000; or about 22 per tion of a principle for fear of the cant, of the total annual premium ultimate liabilities that might come income, Speaking of the outlook. on them in taking action. Other the Sun Life president aid: "And" States might be less inclined to what of the future? No one be accept the guidance of the Longue liaves that the depression will last because they rosented the suggestion forever. It is impossible to say of such "intervention.
just when the sun will come, but The truth was that when world with the vast natural resources of opinion was sufficiently strong and this continent, and the brains, unanimous to pronounce «a firm energy and actual wealth of its moral code, sunctions would not be people, business recovery is inevi needed. While, therefore, Britain table. The longer and further the would stand firmly by its obliga pendulum swings in, one direction, tions under every Article of the the suror and the greater must be Covenant, he would suggest to those the swing in the other direction. who had studied this subject that History will repeat itself. When they should keep the coercive and prosperity does return, no company mediatory functions of the League will share in its benefits in greater diatinet.
Peasure than our own.".
KING'S
THEATRE
COMING SHORTLY
"SUNSHINE SUSIE"
BRITISH PICTURE
RENATE MULLER
with
Jack Hulbert
and
Owen Nares
Fan you'll delight fo- Music you'll adore.
PLANS NOW OPEN. “BOOK EARLY.
For EASTER
#
Mr. Macaulay in the course of his remarks and:
It was because the League As- sembly resolution of March 11th had affirmed that it was against. "I think you will agree with ma the spirit of the Covenant that a that for a year such as that through Bettlemen of the Sino-Japanese which we have just passed, the dispute should be sought under the showing is a remarkably fine one." stress of sailitary pressure that he was glad to see there had been a considerable withdrawal of Japan ese forces from Shanghai.
Although sometimes it had to. work alowly and sometimes disap. pointed its boat friends, the League had shown itself in the present situation an invaluable influence on the side of penes,
over
Now Basurances of 8627,000,000, and a total in force exceeding 83,000,000,000, are pures so great as to need no emphasis.
The distribution of our now business is intererling, Canada bontributed $101,000,000, United States $991,000,000, Great Britain 880,000,000, and the rest of the world $88,000,000.
Has Paid $504,000,000. "Since business was commenced
is $604,000,000.
He denied that there had been any weakness in the League's pro-i nouncemen The Assembly reso- lution contained very strong expres in 1871 we have paid out in bene- ssions standing by every principle of the League.
Moreover, reference to the Pact of Paris was deliberately made by the Assembly and it was this which brought them an aarance of the support of the United States.
The debate was then interrupted by private business,
DEBATÉ WOUND UP Later in the evening, the discus sion was resumed, and Captain An- thony Eden wound up for the 'Government.
Last year alone our payments were $93,000,000, on amount exceeding the total assur
We may ances written in 1992. well rejoica over the magnitude and importance of the social service which our Company is performning.
"During the past year life is surance has been tested as perhaps never before, and it has wihatood the trial triumphantly, So far as I am aware not one life company on the continent has had to close its doors," a wonderful record. In Canada we can claim with pride He noted an unexpectedly largo that even since Confederation not measure of support for the Go one Dominion licensed company ernment's policy, apart from the has ever failed" criticism that tho. Government
(Dùntinske on unzt Volumn;)
From "MAC'S" CAFE
CHOCOLATES
IN DAINTY BOXES
EASTER EGGS
IN ATTRACTIVE BASKETS
PASTRIES, CANDIES
From
NOVELTIES
IN PLEASING VARIETY
PENINSULA HOTEL CAFE
For EASTER
THE HONGKONG & SHANGHAI HOTELS, LTD.
+
might have developed a 1tlo mora,? vigour.
for-
But those who advocated a ward policy" overlooked the fact hat had. we indulged in such Cagerness, we might have found! ourselves acting alone.
As regard Manchuria, Captabr Eden said that the Government: was carefully watching British inter- esté there
This, he went on, was a thirty- year-old
controversy and the mord the Government had the opportunity to study it,"itle more fearful they were to venturg hastily.
"At present, the Government would be well advised to await ther conclusions of the Commission headed by the Earl of Lytton.
In conclusion, he was glad to note & definito improvement in Bri tish relations with China in the past five years, due to Bir Austra Chamberlain's policy, a combinai tion of firmness in defence of well- established British and othor foreign interests and sympathy for. just Chinese aspirations. That policy would continue.
“ MORNING POSTA CRITICISM
LONDON, Mar. 2. Frank and cordial co-operation. between all Powers, including Japan, is essential if the Interna. tional Settlement is "to be" xato against such encroachment as it had to fear, declares the Morning Port in a lender on the House of "Commons" debate, There je po need to replace the present Chinese enart by international judge
If the Chinese are brought to see.. they cannot play of one Power ngainst another it, will be the first stop to relormation,
SUN LIFE ASSURANCE COMPANY
TOTAL DISBURSEMENTS
OF
CANADA
HEAD OFFICE: MONTREAL
$3,051,077,000
STATEMENT FOR 1931
(CANADIAN CURRENCY)
ASSURANCES IN FORCE (net).. NEW ASSURANCES PAID FOR (net)
527,939,000
TOTAL INCOME (net)
197,140,000
136,509,000
PAYMENTS TO POLICYHOLDERS AND BENEFICIARIES IN 1931 PAYMENTS TO POLICYHOLDERS AND BENEFICIARIES SINCE
+19
98,235,000
ORGANIZATION
594,185,000
SURPLUS AND CONTINGENCY RESERVE
21,126,000
TOTAL LIABILITIES (including paid up Capital Stock) ASSETS, AT DECEMBER 31st, 1931.
-608,678,000
624,804,000
THE YEAR'S BUSINESS REVIEWED
I think you will agree with me that for a year such as that through which we have just passed the showing is a remarkably fine one.
-
"New assurances of over $527,000,000, and a total in force exceeding $3,000,000,000; are figures so great as to need no emphasis.
"The distribution of our new business is in- teresting. Canada contributed $101,000,000, United States $291,000,000, Great Britain $50,000,000, and the rest of the world $85,000,000.
"Our mortality experience has been even more favourable than that of last year, the claims being but 54.3 per cent. of the expected, against 57.6 per cent. in 1930.
"Since business was commenced in 1871 we have paid out in benefits $594,000,000. Last year alone our payments were $93,000,000, an amount exceeding the total assurances written in 1922. We may well rejoice over the magnitude and importance of the social service which the Company is per.. forming:"
"During the past year life assurance has been tested as perhaps never before, and it has withstood the trial triumphantly. So far as I am aware not one Life Company on the continent has had to close its doors, a wonderful record. In Canada we can claim with pride that even since Confederation not orfe Dommion licensed company has ever failed.
"It will be noticed that in addition to the sur- plus of more than $16,000,000 over all liabilities and capital stock, we have a contingency reserve of over $4,700,000 to provide for possible shrinkage in
mortgages and other real estate investments. Our reserves have been calculated on the sam strong basis as last year. Although our invest- ments payable in American currency greatly exceed our liabilities in that currency, we have treated both as on a par, taking no credit for the premium on American funds. Our liabilities under contracts in other currencies also are included at a total greater than required at the prevailing rates of exchange.
"Our holdings of stocks have been valued on the basis laid down by the Dominion Department of Insurance which is practically the same as that adopted for all companies by the National Conven- tion of Insurance Commissioners of the United States.
"In new investments we have favoured high grade bonds, the yield on which is now very attractive.
The profits paid or allotted to policyholders amounted to over $26,000,000, or over 20 per cent. of the total annual premium income.
"In the light of these figures, the report is in deed excellent one.
"And what of the future? No one believes that the depression will last for ever. It is impossible to say just when the turn will come, but with the vast natural resources of this continent, and the brains," energy, and actual wealth of its people, business recovery is inevitable. When prosperity does re- turn no company will share in its berichts în greater measure than our own.
From the Presideütv Address at the Annual Meeting.
SIXTY ONE YEARS OF SERVICE
Sun
Life
Assurance
Company of Canada
TAPE, Resident
SOUTH CHINA BRANCH,
2ND FLOOR, GLOUCESTER BUILDING, DES VOEUX ROAD, HONGKONG.