113
Print of Report dated 5 April 1902 (in 5658/03)
experience of that Fund, and the great difficulty of dealing satisfactorily with so small an institution had previously been emphasized in Mr. Young's Report on the Valuation of the Fund as it existed on the 31st of December 1900.
10. That valuation, which was of course based on the old Pension Tables, after making allowance as far as possible for the peculiar character of the experience of the Fund, showed that the gross liabilities of the Fund then amounted to $252,337 and the surplus to $10,275.54, or that the surplus was between 4 and 5% of the liabilities. In the case of the valuation of the Straits Settlements Fund (also as on the 31st of December 1900) the surplus disclosed was a little under 10% of the gross liabilities (the same pension Tables being used) so that the Straits Fund was found to be in a rather better position than the Hongkong Fund. But as I have
stated