1939-05-18 — Page 4

Page

SHOWING TO-DAY

!

THE

M

AIR-CONDIT CHER. "HEATREN,

YEAR'S, FUNÉRAL

hold that kiss

MAUREEN

DENNIS

O'SULLIVAN · O'KEEFE Mickey ROONEY

Mctro- Gottwyn

Moyer

PROTUKS

GEORGE BARBIER

JESSIE RALPH

Directed by

Edwin L. Marin

ALSO SPORTS SHORT

At. 2.30, 5.10.

7.15. & 9.30 P.M.

ROMANCE!

"OLYMPIC SKI CHAMPION"

NEXT CHANGE

20th Century

Fox Picture

4 SHOWS

DAILY

130–5.15

7.15--8.30

GRACIE FIELDS

VICTOR McLAGLEN in

“WE'RE GOING TO BE RICH"

TAKE ANY, TRAM OR HAPPY VALLEY BUS

ORIENTAL

TO-DAY

THEATRE

TO-MORROW

FLEMING ROAD

TEL 12413

SATURDAY

THE COMEDY CLASSIC THAT MADE SCREEN HISTORY ! THE FAMOUS PULITZER PRIZE PLAY

WON THE GOLD TROPHY FOR THE YEARS' BEST PICTURE!

COLUMBIA PAID $200,000

FOR THE

SCREEN RIGHTS!

FRANK CAPRA SPENT $2,000,000

ΤΟ

PRODUCE IT ! .

YOU CANT TAKE IT WITH YOU

JEAN

*

LIONEL

JAMES

EDWARD

ARTHUR BARRYMORE STEWART ARNOLD

4

MISCHA AUER · ANN MILLER • 'Spring Byington · Samuel S. Hinds Donold Meek - H. B.Warner · Based on the Pulitzer Prize Play by George S. Kaufmun and Moss Hart - Screenplay by Robert Riskin - Directed by FRANK CAPRA A COLUMBIA PICTURE

SUN. MON.

THE CHINA MÁIL, MAY 18, 1939.

FALL IN ASSETS RECORDED AT MEETING OF CANTON

INSURANCE OFFICE

"IT IS HARDLY NECESSARY FOR ME TO POINT OUT THE PRESENT DIFFICULTIES THAT ATTEND 'MARINE' IN- SURANCE IN COMMON WITH ALL OTHER FORMS OF. COMMERCE IN THE FAR EAST. GENUINE TRADE CAN- NOT FLOURISH UNDER THE EXISTING CONDITIONS OF UNREST," SAID MR. D. F. LANDALE, CHAIRMAN, AT THE 58TH ORDINARY MEETING OF THE CANTON INSUR- ANCE OFFICE, HELD AT NOON TO-DAY IN THE OFFICES OF THE COMPANY, PEDDER STREET. The chairman said:—

working will be such as to neutralise this loss, which we hope will not be permanent.

As in previous years all investments. and mortgage loans have been included at or under-market price or value respectively.

face.

I wish to preface the few remarks I am about to make with an expression of regret that Sir Robert Ho Tung is not with us to-day. It is well over 20 years since he joined the Consulting Committee of this company, and' dur ing that period the benefit of his sound

DIVIDENDS UNCHANGED advice was constantly at our disposal; The surplus to be dealt with for the advancing years, however, brought 1937 account is $911,762, out of which with them a wish for relief from the has been paid an interim dividend of cares of business and, in expressing $5 a share. We now recommend a fin- our most sincere thanks for his many al payment of $8 a share-making in valued services, we wish him long life all $13 a share-which will absorb and all happiness in his retirement. 1 $650,000 and the transfer of the bal- am pleased to be able to inform you ance of $261,762 to underwriting sus- that the Hon. Mr. M. K. Lo has ac- pense account to close 1937 and pre- cepted our invitation to fill the va-vious years. cancy caused

of by the resignation Sir Robert.

It is with regret that I have also to advise the resignation of Mr. Felix A, Joseph from the Consulting Committee. Mr. Joseph left for England early last month and to him likewise we tender our best thanks and all good wishes for the future.

The out-turn of the account for 1937, though rather better than we had at one time anticipated, is poor in com- parison with its predecessors. of re- cent years, the contributing factor to this being the adverse result of our Sterling operations, more particularly in respect to London,

INCOME ROSE

Our premium income rose by $624,

296 over that for 1936, but so also did Losses by the figure of $561,706. When we met last year, we had reason to be hopeful about this account but this was unfounded and it has proved to be rather worse than 1936. A compari- son of ratios between the two years reveals losses at 69.63 per cent. 1937 as against 64.64 per cent. for 1936, charges at 26.43 per cent. as against 28.93 per cent. and a balance of 3.94 per cent. as against 6.43 per cent. Interest is up by $11,521.

for

carry

The balance at credit of working ac- count, 1938, as at December 31 last, stood at $2,174,826 and though this sum is $189,189 less than the forward for 1937, at the same stage, we have hopes that as the result of some drastic pruning there will be ́a marked improvement.

Recalling the results for 1936 and 1937, I am chary of saying too much about the final outturn for the 1988 account but

The balance of $2,174,826.54 at cre- dit of 1938 account allows of the pay- ment of an interim dividend of $5 a share for that year, leaving an amount of $1,924,826 to be carried forward.

Far

There is little more to say and it is hardly necessary for me to point out. the present difficulties that attend "marine" insurance in common with all other forms of commerce in the East. Genuine trade cannot flourish under the existing conditions of un- rest and uncertainty and I fear we must anticipate a further drop in in-- come during the current year.

Still, we are carrying along quietly.. avoiding trouble and looking for the better times that will surely come. We

face the future with the knowledge that

a strong and solid balance:

we have sheet.

There being no questions, resolutions- were passed appropriating the surplus. of $661,762,32 to pay a final dividend to underwriting suspense account; re- of $8 a share. and to add - $261,762,43 electing Messrs. D. E. Clark, Á. H. Compton, T. E, Pearce, J. H. Taggart and S. T. Williamson to the consult- Messrs. Lowe, Bingham and Matthews. ing committee; and re-appointing and Percy Smith, Seth and Fleming as · auditors for the year.

BRUTAL ATTACK

FOR $3 EARRING

BUBBING PEPPER INTO THE EYES OF HIS VICTIM, A CHIN- there are influences at ESE HIGHWAY ROBBER ESCAP- work, such as increased rates and the

elimination of certain undesirable ED AFTER SNATCHING. A $3 business, that form a basis for a mo- EARRING FROM A 58-YEAR-OLD derate degree of optimism.

IN

Scrutiny of the balance sheet will CHINESE WOMAN, NG SZE, YES. reveal that, the total of assets has fal- TERDAY AFTERNOON len by H.K.$1,137,319, or £70,490 as STUBBS ROAD. expressed in 'Sterling. This is due partly to the loss sustained on: holdings of Shanghai mortgages and debentures (both in respect of price and exchange), partly to delayed claims attaching to earlier years which

our

“ARTISTS AND MODELS ABROAD" have made severe inroads into the un-

Jack Benny, Joan Bennett, Yacht Club Boys, 100 other stars. MATINEES - 20c.-30c

EVENINGS ★ 20c,-30c.-50c.-70c.

Dine at the

Parisian Grill

Good

derwriting suspense account, and also to the reduced balances that have been brought in for the years 1987 and

1988.

- CARE OF FUNDS

On the other side, it will be found

who

According to the woman, she was attacked while walking up Stubbs Road to Ling Nam School taking eatables to her master's son was studying in the school.

After tearing off the earring, the robber pushed the woman into 黯 nullah and ran away.

She was rescued by a party of Chinese who passed in a car a few that reinsurance fund is down by minutes later. They turned the car $804,862 as the result of a very ne- round and drove down Stubbs Road cessary transfer of £50,000 to the un- attempting to locate the robber, but derwriting suspense account to meet the delayed losses already referred to.

were unsuccessful.. Investment and exchange fluctuation

account has fallen by $363,269 and DEBATE ON

the shrinkage would have been great- er had not this reserve received sup- port from other directions. Underwrit- ing suspense account shows an increase of $888,182, resulting from the transfer of £50,000 that I have already men- tioned.

PALESTINE

London, To-day.

The White Book of the British Government on the Palestine ques- I would reiterate what my predeces- tion will be subject of a debate în sor said last year as to the care of the House of Commons, when the Funds in these difficult days; the pro- Government will move that the Blanks inserthen: has intensified and it

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