Tne Meeting of Shareholders in the North-China Tusurauce Company which was held (he other day, passod off with that pleasant unanimity which characterizes the proceedings of proprietors OF successful concerns. The report which was then adopted showed th: there had been a trifling diminution the earnings of premiums in 1881, as computed with the previous year; the losses had been some Tls, 20,000 loss than in 1880; and there was Tls. 12,000 more at the credit of Working Account than in that year. A sum of Tls. 60,000 was placed to Reserve Fund; and the Chairman expressed a hope, which in all probability will be realized, that during the current year the Com. pany would be able to increase that no count to Tis, 400,000. A dividend of Tis, 75 per share was declared, and a return of 25 per cent to shareholders on contributory premium. All this ie highly satisfactory and has been tained in spite of a severe competition from the companies which have agen. cies in the East, No allusion waa made at the meeting to the reduc. tion in rates of premium which was announced by the Agents of some English companies at the end of last January, and we therefore tuke it for granted that the Directors of the North. China have determined to adhere to the tariff which universally prevailed to that time, In this we believe they are right, as the rates of premium had been previously reduced to as low a point as was compatible with the risks incurred. here is a strong feeling among merchants here that the rates on marine insurance ate now too low, everything taken into account, Indeed we have hoard it assorted that for some viske, particularly those 1 the const, the scale of premiums is fur too low; while only fortanute immunity from heavy losses on the mail and the other steamer lines can make profitable the rates which are charged on risks between the Hast and Europe. It is in cuaet business that most of the losses of the insurance companies have been me curred, and we believe that the more prudent offices Lave been lately weting with greater citoumspection in this do-scription of business, The funds of the North Chiva are all either deposited in banks, or invested in securities which could be easily realized, and the policy of the board is, in this respect, in warked contrast to that which rogue lates the investments of sume rival cou. corns, that have lent large sums of money upon mortgages on real estate in China. The reports of the two local fire insurance companies have been before oar readers for some time, and have been generally regarded as satisfactory. The reduction of rates which took "place last year bad not told their earnings to the extent which
Text read from the printed page and cleaned; old type leaves the occasional error.