1940-05-03 — Page 17

THE CHINA MAIL, MAY 3, 1940.

ROMANCE FUTURE UNPREDICTABLE

(Continued from Page 16).

For a moment she looked at him wide-eyed, and then she blushed and

looked away:

"You are not frightened, Madame?” he asked, and it seemed to her that his voice held a caressing note, but instead seemed of being afraid, her breath only to quicken so that a white hand was raised to still the tumult of the laces at her throat.

"Not now, -Sir," she replied, and he had to bend his unpowdered head to hear her answer, for it was above a whisper.

scarce

As they ate the moon rose round and silver behind the dark trees, the lan- terns threw a golden light on the leaf of the strewn ground, the silence woods was magic round them, and the broeze, warm and senuous, whispered of happiness,

it They scarcely spoke, and yet seemed that so much was mentioned between them; they scarcely ate, and yet the food seemed delicious.

"Why do you ply such a trade?" she questioned.

.

Page

SAYS CHAIRMAN OF UNION INSURANCE SOCIETY

The full effects of the war on fire under.. writing are not yet discernible, but in the United Kingdom particularly the Govern ment control of practically all commodities values very large insurable

There are has diverted indications that the Government is recon- from their normal channels. sidering Its attitude in this connection and

future.

Apart from the war, the general will insure certain of the commodities in experience in the fire field was reasonably good. In the United Kingdom and the Unit- ed States the fire wastage reached higher tios in other countries were satisfactory. figures than in recent years, but claims ra- FIRE INCOME

|

ability of keeping the distribution within

So far as the contingency guarantee claims:

amount approximating the interest earned. are concerned, I am able to state that the losses in which we were involved have been tunate loss was severe and heavier

adjusted and payment made. This unfor- than

could reasonably have been anticipated. It exception of certain amounts to be receiv. is however now finally disposed of with the cd as salvages and recoveries.

.

WIB

WAR INTERFERENCE Development plans for our recently ac ance Co., Ltd., have been interfered with by the war.. Encouraging progress being made up to September, but, the gen- crál dislocation since that date plus heavy ness and Staff from London to the country, Fire In- has retarded the hoped-for expansion, · Our expenses incurred in transferring the busi-

Canadian subsidiary the Beaver surance Co., is still a small company, and At- the distractions of the year have prevented concentration upon its developinent. tention will be given to this matter as soon the as circumstances permit.

I cannot, close without expressing keen appreciation felt by your directors for the devoted work of the staff during the recent months of stress and difficulty, At head office and all branches, the staff have willingly responded to the extra calls made upon them. Particularly I wish to thank life the London staff who, with little warning, were transferred from their normal

The that, for a tline at least, provided many dis- comforts and much inconvenience. among family and friends to surroundings

unusual difficulties were accepted without the staff has been steadfastly maintained. I complaint and the customary efficiency of am sure you will join in the board's appre-. clation of their good work.

UNDERWRITERS HAVE WRITTEN a large amount of largely by the same factors plus the destr

war risk business outside the scope of the Government scheme, but it is impossible at this time to estimate the probable outcome, since severe losses have already been incurred and the future is unpredicatable," said Mr. G. Miskin, chairman, at the annual meeting to-day of the The Union Insurance Society of Canton, Limited. meeting was followed by the annual meetings of the China Fire Insurance Co., Ltd., and the British Traders' quired subsidiary, the British Oak Insur- Insurance Co., Ltd.

Our own experience was not unsatisfac- Mr. Miskin was supported by

tory. Marine premium at £1,099,237. 2s. 6d. S. H. Dodwell, J. Owen Messrs.

to war risk income. in a large measure and A. W. Claims paid on account of 1939 were £330,- Hughes, K. S. Morrison, and H. V. was substantially higher than in 1938, due

directors, Wilkinson,

948. 148. 11d. or some £22,000 higher than in Hughes, general manager.

1930, which was to be expected in view of At the Union Insurance Co. meet-the larger income. In closing off the 1938 account we have been able to reserve £100,- ing, the chairman said:-

have 190. 6s, 7d, to meet subsequent losses on meeting you will Since our last

of our late general that year and to transfer £50,000 to proft "Life was incredibly dull" he an- learned of the death

Lauder and loss account. swered, "and the lure of the open road manager, Mr. Paul Lauder. Mr. is a glorious adventure. I was lonely rendered invaluable service to the Society and bored, yet there is an old house from the time he joined its service in 1908 until his retirement as general manager in not so many miles from here, oak-1834. From that time until his death he waS beamed and lavender scented, that a member of our London Committee where awaits its master. Or maybe it is a his knowledge of the society's affairs was of great assistance to his colleagues. As he mistress that it lacks."

was intimately known to so many here to "Don't the stairs creak with the soft day I am sure you will join me in an ex- footsteps of bygone mistresses?" she pression of deepest regret at his passing.

I regret also having to report the death asked dreamily.

of our Melbourne manager, Mr. G. Beres "Their dresses rustle in the passages,ford Cairnes. While Mr. Cairnes had been their sweet scent clings to the old with the Society but a relatively few years tapestries, I hear the soft murmur of he had proved himself an efficient oficer, Through his death the Society has suffered a severe loss. their gentle voices and glimpse the

A general review of underwriting condi-than glisten of their bare shoulders as they pass to and fro. It is not enough. Itions during 1939 within the time available 45.21% would have tangible arms around my to me must necessarily omit much that has £50,000 to profit and loss account is satis-

taken place. The early months provided | factory.

Accident business has had its own parti- but these sank into neck, living lips warm and breathing many problems,

cular troubles, and over all I imagine the He stopped short significance in September when the Euro- against mine.

In the past we have been accustomed to There was no need for further words, pean War actually broke out. Prior thereto margin of profit cannot have shown an im-

your directors had been concerned regard-provement over last year.

Our experience reflects the general dif- Youth, beauty, and the moonlight. . .

ing the Society's marine business and the it was all told. There was a quick possible effect of unrestricted submarine and ficulties and the amount transferred from listen with interest to the remarks of the and loss, at £5,000 was less than last year. year the Hon. Mr. S. H. Dodwell in reter- the ring to the year 1937 and the early part of intake of her breath, the wonder of aerial warfare against shipping; a like an- the accident and general account to profit chairman on world conditions and only last

xiety on the part of all insurance compan-

We are still seeking improvement in

of 1938 stressed the difficulties which an or- her eyes, and the unthinking surren-ies led in the early part of the year to the

and are hopeful

ganization such as ours then had to contend der of her hands. She felt his lips on formation in London of the War Risk Cargo unprofitable sections.

eventual success.

In the profit and loss account, after mak-with..

As stated to-day by your chairman, her fingers and she knew-at last she Pool.

On the outbreak of war this Pool ter-

sus-problems arising in the first half of 1939 Bank knew, what life, happiness and love minated and was replaced, for certain voy-ing provision for dividend requirements and

Office transferring £30,000 to underwriting ages, by the War Risks Insurance

our marine underwriting operated by the Government. It was to be pense account, there is a balance carried into Insignificance, last September, and it is there would be initial dif-forward of £302,045. 18. 8d. In authorising gratifying to note that in the light of ex- that expected that

and it has since run November, your directors were influenced results are not unsatisfactory and this is be the 1930 Account may ficulties in a plan of this kind, but these an interim dividend of 12/6d per share in sting conditions smoothly and now provides the protection largely by the contingency guarantee claims so although present indications are

to which reference has been made at pre-settlements on vious meetings, and the uncertainty of the heavy

Having regard to the world-wide condi- required by shippers at a reasonable cost. SEVERE LOSSES Underwriters have written a large amount effect the war would have on our affairs.

(Continued on Page 20.) of war risk business outside the scope of The recommendation now before you of ations prevalling for the period under re- the government scheme, but it is, impossible final dividend of 12/8 per share is governed at this time to estimate the probable out- come, since severe losses have already been mcurred and the future is unpredictable.

In the ordinary marine market, efforts year to improve Hull made early in the rates met with substantial success and there

1937 and

were meant to mean.

For a long time they sat quite still and then slowly he dropped her hands and rose to his feet. With death in her heart the bride felt that somehow this was the end, and yet she could not cry out, could not ask him to spare her the future, or even pray that she might die now in the happiest moment of her life.

Without a word the highwayman rose and went across to Sir Charles. He cut his bonds and then handed him a glass of wine.

were overcome,

in-

favourable experience of was every hope that the outstandingly un-

1938

The stimulant restored the numbed circulation and loosened the blasphe-would be improved upon. Present indica- mous tongue.

tions are that this 'hope will not materialize as casualties due to navigation under war "I will have you hung for this, thief.

conditions have been numerous and settle- His majesty's soldiers shall scour thements on the 1939 Account may be heavy. country until they find you, As for my

wife. ." He paused, for the high-desperate men strained and alert. The wayman moved towards him with a servants watched like ghosts, immo- menacing gesture.

bile and silent. There was the ringing sound of clashing steel, the rustle of quick moving feet on the dry leaves, the grunting heavy breathing of Sir Charles, and then a sudden cry which broke the night and echoed for the moment round the sentinel trees.

"Silence, Sir," he said, "You and I will cross swords. We fight for our lives. There is to be no quarter."

"A duel?" Sir Charles questioned, and then he smiled for the first time for many hours. It was a crafty, evil smile, holding no humour. He well knew his own merits in a duel. He not look." was counted one of the finest swords-her fingers until they hurt one an- ears were men at St. James', and his dissipated, other. It seemed as if all the breath lust-lined eyes gleamed through the left her body, as if her

strained until she must swoon if the shadows at his opponent.

"I dare not look. Oh God, I dare Lady Revlington clasped

"My bride, fellow" he said "will sleep tension did not break. the better in my arms for the thought of your demise.”

Then there was a footfall behind her and she found herself lifted in There was a little cry of protest from strong arms. She did not see the still, Lady Revlington, and the highway-covered figure left behind in the dark- man took her arm and drew her to oneness. Two twinkling eyes held hers prisoner, the moon was behind his side.

be- head and like a great halo it dazzled her, while happiness thrillingly wildered her.

ניי

"Be brave, my darling," he said very gently: "It is the only way."

For a moment he held her hand in

He carried her a short distance and his, and then as if he dare not trust

then lifted her onto the saddle of his himself even to kiss it, he left her.

Sir Charles ignored his 'bride, slap-horse. He vaulted up beside her and ping his arms, stamping his feet, and held her once again in his arms, so testing the long steel rapier he held in that her head fell against his shoulder. a "Is this a dream?” she murmured his hand. Very slowly, without backward* glance, Lady Revlington against his neck, and then they were moved a little way into the wood and for a moment silhouetted against the there she bank on her knees in prayer. sky line.

my heart, this is romance," The moon shone on a strange sight -the steely flash of rapiers, white came his answer, and they rode away

or into the moonlight. shirts, and the still whiter faces

"No

Our own fire income was slightly

last year and the claims ratio the transfer was higher, but

They're well worn but they've

worn well

thanks to

BLACK POLISH

Polishes, Prot -and-Preservi

legs

at

of

SECONDER'S SPEECH. Seconding the adoption of the report and accounts, Mr. M. H. Turner said:

I am sure that we all wish to associate ourselves with the remarks of the chairman

as to the deep regret we feel at the pass- ing of Mr. Lauder and Mr. Cairnes, both in directing the affairs of the Society, of whom have rendered valuable assistance

KIWI

TAN POLISHES

White Cleaner and Shoe Creatin

the