this Company was in the Exchange Root counts for the twal ending Slat December, 1886, In the absence, through illness, of Mr. A. Currie, the Deputy Chairman, Mr. A. Tobuston, took the ch After the Chairman read the vening the m nutes of last m Report the year ending lst December, 1886, as roxd, as it had been for the requisite time in the honda of the shareholders, and ho presumed they were in possession of all its contents.
The Chairman, in con! nation, said that the mode of the results of the the opinion of the id meet with the approval of $17,000.61, carried forward They proposed to divide
from the 1885 account, (being the net profits of that year) among the Shareholders interest from the commencement. of the Company to the end of 1885, and to carry forward to the next account the balances of $57,876.73 on the Fire, and $2,520.24 on the Marine working accounts.
ould in reality be tantamount to of about 7% on the working busi: ness of the Company. The Report preseuted to the Shareholders was so full that he in for the y 1886, amount (less Reins ice) to $65,937.84 and the ned amounts to $35,333 2 Payments for claims to $20,374.66 which in Hongkon, The loses in Singapore from the commence. on the 15ih November up to the present no losses have be ported.
Your Di $17,000.61 the amount car the' 1885 account, being the year, among the Sharehold from the commencement of the Compavy to the end of 1885, and to carry forward to the next account the balances of 857,876.78 on The Fire Promia from the 1st January, 1887, to date amount, as far as has to $18,500 and the Marine Pr nett.
Daring the year the Di they have lost the valuable Board, of Mr. Otto Muliry and Tek, and the following gentlemen have been elected in their places, viz. Mr. E, L, Meyer aod Mr. Lim Bog of 1886. Your Directors throughout pursued a policy of caution, in preference to showing large results with doubtful close of riske on the Books.
With regard to the remuneration due to, the Directors under clause No. 64 of the
Text read from the printed page and cleaned; old type leaves the occasional error.