1941-06-04 — Page 12

N

Y.KLINE

E

SAN FRANCISCO & LOS ANGELES via Honolulu.

Kamakura Maru

Yawata Maru

4th Junc Wednesday, Wednesday, 11th June

SEATTLE & VANCOUVER (Starts from Kobe)

Hie Maru

Monday. 23rd June

NEW YORK via Japan & Panama

*Nako Maru

*Nosiro Maru

Thursday, Monday,

26th June 7th July

SOUTH AMERICA (WEST COAST) via Hilo &

San Francisco.

Helyo Maru

ANNUAL GENERAL MEETING

The Seventeenth An- nual General Meeting of the China Underwriters Limited was held at noon to-day.

The Chairman, the Hon, Mr. A. L. Shiekis, said, in part:

רום

Department In the Life Assurance

Premiums at $127,053 New Business show an increase over the correspond- my figure of $118,005 in 1939. Renewal

$588,833 leo show Premiums at

over last year's figure The Total Premium Income has increased from $669,785 to $715,688 increased frum have Death Clatos $117, tu $134.880

increase

$551,179.

A

THÉ CHINA MAIL, JUNE 4, 1941.

PRESIDENT

LINER

SAILINGS

TO SAN FRANCISCO AND LOS ANGELES

Via Shanghai, Kobe, & Honolulu

SS President Coolidge"

June

# SS "President Coolidge"

TO NEW YORK and BOSTON Via Manila, Singapore, Penang, Colombo, and Capetown

Juno

16

$$ "President Garfield" ....Aug. 24 To S'PORE via MANILA

8 SS "President Madison"

Dorothy Luckenbach

*Harry Luckenbach

TO NEW YORK and BOSTON

June 24

Jung 21 June 28

via San Francisco, Los Angeles and Panama

of

SS President Hayes' ......Aug.

TO MANILA

B

S$. "President Cleveland"..

Juno

Tuesday, (starts from Kobe)

24th June

Claims maturing were $144,200 com- Suuren- pared with $112.236 last year. ders have decreased satisfactorily from $152.169 to $132.137.

COLOMBO & MADRAS via Singapore

*Tottor Maru

SYDNEY & MELBOURNE via Manila

Friday,

13th June

Monday,

9th June

Expenses excluding commission about the same as last year and the

show& Fund Assurance Lafe crease from $1,221,378 to $1,262,000

Departinent In the Fire Insurance Premiums have increased from $101.- 624 to $123,812 excluding an amount of premium re- $23.132 representing the ceived for unexpired risks under u Treaty mereased proportion of

art

an

-ן!

SS President Madison" **Dorothy Luckenbach

July 15 July

Harry Luckenbach

19

Andrea Luckenbach

*SS President Harrison"

July 26 12 Aug. Aug. 28

• Cargo only.

↑ Omits Boston.

An Ac-

*Onoe Maru

SAIGON

BOMBAY via Singapore & Colombo

Anya Maru

Wednesday, 11th June

RANGOON & CALCUTTA via Singapore

*Lisbon Maru

KOBE & YOKOHAMA

Kamakura Maru "Matue Maru

Yawata Maru

* Cargo only.

Saturday,

7th June

Wednesday,

4th Junc Monday,

9th Junc Wednesday, 11th June

NIPPON YUSEN KAISYA

General Passenger Agents in the Orient for

CUNARD WHITE STAR LINE

N.Y.K., King's Building.

Telephone 30291.

BLUE FUNNEL LINE

TO

UNITED KINGDOM PORTS

For dates & ports of call apply to agents.

Information regarding INWARD CARGO and all matters relating to freight and passage will gladly be given by

BUTTERFIELD & SWIRE

Tel. No. 30332

Agents

1, Connaught Road.

AUSTRALIAN-ORIENTAL LINE

TO

AUSTRALIA

calling at

CAIRNS,

MANILA, THURSDAY ISLAND, TOWNSVILLE, SYDNEY, MELBOURNE, ETC.

NEXT SAILING

EARLY JULY 1941

For particulars regarding Passengers › & Cargo apply to

BUTTERFIELD & SWIRE

Agents

Tel. No. 30332

1, Connaught Road.

Count

an increase

Cluster at $57,032 show ver last year's figure of $45,207 and the Fire Insurance Fund has increased from $87,873 to $132.103.

In

the

Accident

Insurance Account Premiums at $88,507 show on increase Compared with the figure of $49,301 last

were lower having creased from $25.594 to $18,741 Accident Insurance Fund has inerrag- ed from $20.38 to $40.323

vrat

заря

The

Account

+4

in the Matine Insurance Pirmiums at $256.233 show a large in- 1) V the figure of $130.414 last at $55.100 show Vekl Clans

of with the Ogure crease compared $60,480 and the Marine Insurance Fund has mereased from $102.153 to $244.80

The interest credited to the Profit and

was $76,111 And

the General

Loss Account

with $67,891

transferred to

$75,000

compared

has been Reserve

Fund leaving a balance in Profit and

Loss of $8,254

Balance Sheet

Sheet the principal In the Balance items calling for comment are an in- In to $545.323 from $443,127 crease Mortgages, an increase from $679,470 to $787.420 in Policy Loans, and an in- and creased sum invested in Indian Colonial Government securities.

10 reference to the Balance Sheet as at 31st December 1939 we stated that were the Stock Exchange Investments valued below market value after taking into account the Investment and Ex- change Reserve of $89.897. The Marke! Value of these securities has increased Investment during the year and the

Reserve of $71,799 and Exchange

W a free Reserve, after valuing the securities in the aggregate below mar ket value.

18

The Total Assets have increased from $3,304,601 to $3,860,025 including an in- crease in Paid up Capital of $175,825.

Looking at the account generally the New and Renewal Life Premiums have buth increased and increases in Pre- mium Income are shown in all other departments, particularly in the Marine Account which has been augmented by and receipt of War Risk Premiums Surcharges.

The Funds in the Fire. Marine and Accident Departments show a tulal in- crease of $206,915.

A Surplus

Assuming reserves for unexpired risks of 60% of a year's premium in the Marine Account and 40% of a year's premium in the Fire and Accident Ac- these counts there was a surplus in Accounts at the beginning of the year of $71.788, On the same basis the sur plus at the end of the year was $186,- 615 showing profit during the year In these Accounts

The of $114,827, whole of the increases in the Funds of these Departments have, however, been left in Reserve as the incidence

of claims, particularly as regards Risks in the Marine Account, cannot be satis- factorily dealt with on a year to year basis.

The General Reserve Fund which stood at $25,000 has been brought up to $100,000 by the transfer of $75.000 from Profit and Loss,

I should like to place on record our appreciation of the valued cooperation of the Managing Director, Branch Managers, Secretaries and Staff,

INTENDED TO STEAL

Admitting that he visited the house with the intention to steal because he needed money to buy medicine, Fung Shing, 40, unemployed, was sentenced to one month's hard labour" by Mr. D. J. N. Anderson at Kowloon this morning, for being found in the residence of Mr. W. G. Grimo, No. 292, Prince Edward Road, yesterday afternoon; pr

Two Chinese, charged with keeping a Tse: Fa gambling, house at No. 424, Lockhart Road, was each fined $50, or one month's imprisonment at the Central magistracy this morning:

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