1938-05-17 — Page 11

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GENERAL

CHINA UNDERWRITERS PAY $47,000 IN

TYPHOON CLAIMS

Hon. Mr. A.L. Shields Presides At Annual General Meeting

HEAVY DEATH CLAIMS LAST YEAR

Presiding at the fourteenth annual general meeting of share- holders of China Underwriters, Limited, the Chairman, Hon. Mr. A. L. Shields, stated that claims at 3102,975, showed a large increase The claims figure included over the figure of $65,243 last year.

about $17,000 paid in respect of typhoon claims.

"In the profit and loss account," said the Chairman, "the main

After " item is the interest not carried to other accounts of $33.893.

there remains A carrying $50,000 to General Reserve Account, balance in the proft and loss account of $12,897."

Death claims at $131.533 had been heavy, compared with $91,096 last year.

Addressing the meeting. the year, but the reserve should be sufficient to cover the unexpired Hon. Mr. Shields said:

risks under the policies.

then

LONDON

GAZETTE

(Continued from Page 4) K.O.8.B.—Máj, and Bt. Lt.-COL C. E. Hudson, V.C., D.B.O., M.C., to be (loent Lt. Col. (April 30); Capt. Maj.) N. A. Thorp to be Maj. (April 30); Lt. J. D. A. MacLaren to be Capt. (April 30).

R. Sussex R-Capt. R. O. v. Thompson is secd. for serv, with the RAF. (April 7); Lt. O. A Phelps to be Capt. (April 7),

Manch. R.-L. R. J. Grimiths is seed. whilst holding a spec. appt. (March 1).

Camerons-Lt. H. W. Cairns is restd. to the estabt. (April (5).

ROYAL ARMY MEDICAL CORPS

Maj. G. DR. Carr, M.C., to be Lt- Col. (May 2). QUEEN ALEXANDRA'S IMPERIAL MILITARY NURSING

SERVICE Sister Miss S. E. Potter resigns. her appt. (May 1).

ESTABLISHMENT Sch. of Signals.-Lt. Dawes, 15th/19th E. to be Instr. (Cl. GG) (April 20).

MEMORANDIA

D'A.

A..

We have now the pleasure to lay before you our Report and In the Profit and Loss Account Accounts for the year ending De- the main item is the interest not cember 31, 1937. and as these have carried to other accounts of $53. After carrying $50,000 to been in your hands for the re- 893.

there quired period. I will. with your General Reserve Account,

remains a balance in Profit and consent, take them as read,

As on previous occasions, Re-Loss Account of $12,897.

Turning to the Balance Sheet. venue items have been converted to Hong Kong Dollars or Sterling the principal feature calling for at monthly rates of exchange and comment is the question of the

The follg. Lt-Cols. (Qr.-Mrs.), Balance Sheet items at rates rul-depreciation of Stock Exchange having attained the age for retire- Securities, which. apart from ing on December 31, 1937.

The Agures have

been Shanghai securities. referred to ment, are placed on ret. pay:-T. combined at 15.2.7/86, which stater, amounted at December 31. Haines, ER.E List.(May 5); 0. 8. Oxburgh, M.BE, ERE. List the same rate of exchange as was to some $50,000 as compared with

the values at the beginning of the May 7). used last "year.

Capt. E. Hill, ret pay (Res, of principal Items in In the Life Assurance Depart- year. The nient New Business Premiums at question have been written down Off) is granted the local rank of $126.939 show satisfactory into their values at December 31, Maj.. whilst empid. as Zone Re-

(April 0); (Qr.-Mr.) 0. crease over the figure of $77,534 1937, corresponding to a reduction cruiting on, Lond. Recruiting Area In 1936. The increase was mainly in the Investment and Exchange ERE List from Q-Mr. V.T.C.. due to improved New Business in Reserve from $250.054, to $200.350. Chisledon, to be Camp Qr.-Mr. Dutch East Indies There has been considerable re-Aldershot (May 5); Lt. (local Capt.) and Burma, and, in the latter covery in the shares since the date. A. C. W. May. HlL., relinquishes

of the accounts. half of the year, in Hong Kong.

the local rank of Capt. on ceasing The Shanghal Municipal, and The increase more than offset

(April 18). the falling off in the latter half other Debentures have been taken to be empid with the Iraq Levies of the year in business in Can-at the lower of book and nomina]

The follg. "Bec. Les relinquish the end-of-year quotations, which lat-rank of Sec. Lt. en enlistment into ton.

ter are those ruling when the the TA-W. J. C. Pelling. late closed in A- RF.A. (Jan. 29); R. A. M. Mac- There bas undoubtedly

Alpine, late Camerons (Berv. Bos.) further depreciation but Feb. 231,

the Straits,

PREMIUM INCOME"

+

The total premium income at Shanghai market $648.182.. compares with total ust. premiums in 1936 of $604,477. We been have also received consideration this is amply covered by the "In- for Annuities amounting to $49, vestment and Exchange Reserve 408,

•

referred "to.

Baker,

DEATH OF DR. MARINESCU

MORTGAGES Death Claims at. $131.533 have

Loans on Policies show an la-

Budapest, May 16 been heavy, compared with 381,

The death has occurred of Dr. 098 last year, while Maturity crease from. $458.336 to $490,991.

Mortgages show considerableGeorge

Marinescu, the world Claims at $87,954 compare with

reduction from: $192,112 to $134. famous nerve specialist.-(Reuter) $23.151 in 1936.

Surrenders at $124,733 show an 228. The General Reserve Fund increase over the figure of $101. stands at $200,000, after trans- ferring the item of $50,000 from 234 in 1936. 4

Profit and Loss Account. already Expenses. excluding Commis- slon, amounted to $212,225 com-referred to, and transferring $15. 000 from General Reserve to pared with $199,237 in 1936, the increase being mainly due to the Capital Account in respect of the expenses in connection with the Founders' Shares referred to in acquisition of the increased New the Annual Report for 1936 which Business in the Straits and Dutch were issued at the beginning of

1937: East Indies.

In conclusion I should like to The Life Assurance Fund shows place on record our appreciation an increase from $572.268 to $691, of the valued co-operation of the Managing Director, the Branch 815. This increase is not as large as last year, due to the heavier Managers, Secretaries and Staf claim rate and increased surren and I have now the pleasure to propose the adoption of the Re-

HEAVIER CLAIM RATE OFF

dera

In the Fire Insurance Depart-port and Accounts for the year ment Premiums at $102,996-show ending December 31, 1937. When a falling off from last year's that has been seconded I shall be any questions figure of $107.379. Claims at $55. pleased to answer

which shareholders may wish to 556 show * decrease compared

ask.” with the Agure of $75,897 in 1936, In spite of claims amounting to $9,673 having been paid in con- nection with the Typhoon in September last.

Expenses at "$22.639 show & marked decrease

compared with the figure of 131,396 last year. Reserve for unexpired risks at $78,077 shows an increase over

DIRECTORS RE-ELECTED The report and statement of accounts were adopted unant- mously.

On the proposal of Mr. C. H. Basto, seconded by Mr. Wong

Shields, Mr. Li Tse-fong and Dr.

A. L Tat-choy, the Hon. Mr.

J. Durran were re-elected Direc- tors.

the Reserve at the beginning -of. Messrs. Lowe, Bingham and

the year which was $72,586.

Matthews were and Messrs, Percy IYI the Marine Department Premiums at $110,363 show an in-Smith, Beth and Fleming were crease over last year's Agure of e-elected auditors for the current year at a remuneration of $1,250, each

$80,969.

Claims, however, at $102,975 show a large increase over the #gure of $85,243 last year. The claims figure includes about $47. 000 paid in respect of typhoon claims.

The

FUND, AMPLE-

are

THOSE PRESENT Present at the meeting were:- Hon. Mr. AL Shields (Chatr- man), Mr. R. A. Dastur, Mr. L Tae-fong, Dr. J. Durran (Direc- tor), Mr. H. R. Sturt (Managing, Director), Mr: E. R. Childe (Secre- expenses at $35,095

tary); and the following share- somewhat heavier than the 1936 holders: Messrs. H. J. M. de Bgure of $31,763, and the Fund Figueiredo, Lo Chung-wan. Wong stands at $127,929 15 compared Tat-choy, J, Shewan, R. Johanne- with $155,881 at December 31, sen, N.V.A. Croucher, E. Leitao and 1938. The prezent Fund is ample to provide for unexpired risks, be- ing in excess of one year's pre- miums, and considerably in ex- cess of a full year's claims.

In the Accident Department Premiums at $50.945 show a small increase over the figure of $48,762 in 1036.

Claims at $38,724 are somewhat heavier than the figure of $32,878 last year.

C. H. Basto.. ~

80,644 PRISONERS CAPTURED BY THE NATIONALISTS Bürgos, May 16,

The Nationalists captured 30,644 prisoners up to April 27, according to a spokesman at General Franco's Expenses at $16,606 "are some-headquarters. The total does not what higher than last year cor-Include many desertern. responding to the increased in- come,

Beven thousand of the prisoners are employed in technical services, CONSIDERABLE. REDUCTION 31,000 in labour battalions, 42,685. The Fundstands at $32,356 are in concentration camps, while showing a considerable reduction ten thousand are being tried for as compared with the figure of alleged crimes (Reuter), $47,313 at the beginning of the

Mr Howard Hording.

The Willows

Maldon.

Flipboy

TUESDAY, MAY 17, 1938. -PAGE 11

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