CO129-346 - Governor Sir Lugard - 1908 [1-3] — Page 188

135

aland fooning

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7

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PROCOMA

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konna vt otlup

RELACIOD CURATCENT

.ebrat

Het nga ut mõni ad bf on pentela oktaach de 1⁄4 oblong non vo

Lig hitov T V seal of robanette rafholmen *40 ...(^) Hosmereg IV me? od bre (9) toltoan” bros (a) deprem

introduction of any Standard. Not one of the 7 English Actuaries

who were examined were in favour of it.

With regard to your letter No. 4721/1906

to Messrs. Deacon, Looker and Deacon, I may say that we took

steps to place our criticisms before you immediately we receiv-

-ed information that the ordinance was under considération.

Speaking on behalf of the Directors of this

Company, we welcome the action on the part of the Hongkong

Government in passing an "Ordinance regulating Insurance

Companies". One of the chief provisions of the Ordinance is the

deposit required. In January, 1906, the Directors voluntarily

deposited Taels 100,000 in the hands of Trustees, the Trustees

being Alexander McLeod Esq., of Messrs. Gibb, Livingston and

Company, K. Moir, Esq., of the International Banking Corporation

and J. C. Hanson, Esq., of Messrs. Hanson, McNeill and Jones.

This sum is held by them in absolute trust for the policy

holders and it was the Directors' intention to add to this

Fund from time to time.

We are quite willing to submit to any

ordinance which would meet the approval of such a body as the

Institute of Actuaries of London, who would be competent to

judge of the justice or injustice of such ordinance. We respect-

-fully submit that the present Ordinance is not just in all

respects and suggest that our opinion is entitled to considera-

-tion, being, as it is, based on the opinion of experts, this

expert opinion being all in one direction. We suggest that the

Ordinance be submitted to a committee of English Actuaries and

that it be altered in accordance with any amendment they

suggest.

WOLL

n

Labiaar

ni bro anon at erant 10 Lita

unolčnem egy

*You YfOP to brbrite e anonib son ch, nłwak

To yow and 31 pnteloitajan vléonsib Juostly dud Ch ages no di

BBC no wod ...

es enaq no MAINĀT”

O.NZ .rorita erit

ed. reabroo Jia No erug to bnsĹSCA

1 bra 02 Ana 09

bort

I am etc.,

(Sa.)J. A. Wattie,

Managing Director.