'The annual general meeting of the China 'Traders' Insurance Company took place in Hongkong on the 18th January, E. J. Sage, Bsq., in the chair.
The Cuarnatan read the notice convening the meeting, and the report and accounts were by unanimous consent taken read. In laying them before the meeting, the Chairman observed that it would be recollected that in February last year the Shareholders made an alteration in the distribution of the profits, and it was ina great measure to the action then taken that they had to attribute the gratifying results which they now saw for the year ending Sist October. The premia showed an amount of $95,691.41 more than the previous year, although the first three months showed a decided falling off in business, The losses had been larger than for the $127,910.98." "The accounts for 1970-71 ear 1870-71, namely, $148,097.89 against
had now been closed, with a debit of $274 to last year. There was a sum of $150,000 for distribution; of which 50,000 would be divided to shareholders, that is, at the rate of §250 per share; $100,000 would be returned to contributors, being an amount of 27 per cent, of the premia paid by them a sum of $31,488.55, or $157.44 per share, would be carried to Reserve Fund, which would now be $255,988.55. The Chairman then proposed that the report and accounts be passed.
This was seconded by Mr. Dowss, and carried unanimously.
Mr. Wexuer proposed, and Mr, Deacon seconded, that Messrs. H, J. Sago and M. W. Boyd be re-elected Directors, and Mr. Boyp proposed and Mr. Saco seconded that Messrs, Deacon and Sherwood be re-elected Auditors, Both propositions were carried unanimously, and the meeting separated with the usual compliment to the Chair.—Daily Press.
Text read from the printed page and cleaned; old type leaves the occasional error.