Report for presentation to the shareholders ordinary meeting, to be held at 4 Offices, Hongkong, at 3 o'clock p.m. on Friday, the 27th October, 1882.
The Directors have the pleasure to submit to the Shareholders the Report of the business of the Society for the year 1881, and for the six months ending 30th June, 1882.
18S1.—The net premium collected for the year, alter deducting Returns and Reinsurances, amounts to $938,358.72.
After providing for the payment of an Interim Bonus and Dividend as declared in May Inst, and adding the usual proportion to the Reserve, thus appropriating $326,103.72, there remainsabalance at credit of $164,271.20 per annexed statement of Working Account. now propose paying a second Interim Bonus at 5% on Contributions, a second Interim Dividend of $30 per si lace $6,524,45 to the Re whi tan at' $423,744.50. absorb $65,363 03 $95,908.12, and as thei claims still pending, the Directors propose carrying this sum forward to be dealt with hereafter—Tho position of the Society for the year as far as can be ascertained is ae follows Balance of Woking account to 30th Ju $552,127.36 Estimated since, less R Returns, and Chi 260,000.00
812,197.36 Deduct Lossee and Claims known to dat 312,000.00
$500,127.36
At an Extraordinary Mooting of Shareholders held at the Head Office on September last it was unanimously resolved to convert the Society into a Liu pany, which Resolu i 3rd instant and the necessary og taken to carry thie i Se To Amountat Debit of Working Account 30th 1881 es sven 497,688.58
497,200.58 1,300 00, 39,950.21, Charges Remuneration for taifyear" ending" dist December, 1881, viz: ay to Shanghat & London
Text read from the printed page and cleaned; old type leaves the occasional error.