Repont for presentation to the Shareholders at the Third Annual Geveral Mosti be held at the Marine Engi titute, on Satucday, the 14th 1885, at 8 p.n., precisely, The Directors have pleasure in presenting to the Shareholders, the Third Annual Report and audited Balance Sheet and Statement of Accounts for the year ended fiat December, 1384.
By these accounts it will be seen that the not promis earned during the Tie. 1,369.40 represented by 107 Polici aggregating total risk of Cis, 23,100 and Doing an increase of Tls. 300 on the pre-coding year's Revenu The Interest account also abews an increase of Tis, 240 ow that of the same period fur 1883, The losses paid amount to the sum of Tis, 1,350—formiug a very heavy item against earnings, Of this sum, Tir, 450, to meet Toss on the steamer Alby were provided for in the Inst Report, and since then the Society has suffered further heavy total losses on four Pol by the steawor Hwai-yuen, Notwithstanding those severe draine on the Revenue, the Reserve Fund (increased at Inet Balance Si to Tis, 600) has res untouched 5 the Society has a balance at. credit of profit and loss of Tls. 553.21, after paying the guaranteed interest of 6 per cent, per annam on the Capital, With the concurrence of the Shareholders, the Directors propose disposing of thie balance as follows, vi To be placed to Reserve Fund (which will then stand at Tis, 1,10)
Remuneration to Auditor Balance to be carried forward to next year's account The Directors has pleasure in congratula-on thi ion of the remaining Directors retire from office, but offer themselves for re-election, The auditor, Mr, Robert Law, also offers himeelf for re-election, Jases Wart, Wrouram Pearce, }Directore, Wa. B. Buyers, Geo. Davinsox, Waren Harnis & Ca., General Agents.. Shanghai, 17th January, 1885, By Hongkong and Shanghai Banklog Corporation on Current Account 693.49 General Agents—Cash in and 69.60
Text read from the printed page and cleaned; old type leaves the occasional error.