The fourteenth annual meeting of the Yangtsze Insurance Association, Ld., was held at the offices, No. 26, Bund, on Thursday afternoon, There were present Messrs. J. M. Young (Chairman), H. J. Such, J, Prentice, ©. W. Wrightson, and W. Gilmour (Directors), W. Jackson (Secretary), A. H. Heath, M. Wolff, J. Liddell, F. L. Fearon, Ach. Riva, D. W. Crawford, "TA. Clark, Brodie A: Clarke, W. P. Boyd, Frank Gove, Jas. McKie, Jas. Ambrose, A. J. McClure, W. B. Buyers, R. S. Gubbay, Gilbert Reid, and A. Nito, representing altogether 4,595 votes.
Miter the secretary had read the notice of convention, the Chairman said: The Repore and Accounts for the year ending on the'Sist December 1903 have been in your hands for some time and with your permission we will take them as read. The results of the year's working, as shown by the accounts, if not quite $0 good as those submitted at our lust Annual Meeting, are still quite satisfactory, and—notwithstanding the unsatisfactory condition of tude which his prevailed during the last twelve months, your Directons are pleased to be able to Yecord an increase in Net Premia taken, $859,819.47 against $822,066.60, or an increase of $37,762.87. On the other hand the claims paid have been somewhat heavier over the previous twelve months so that the balance of Working Account 31st December 1903 shows $432,475.79 against $491,061.51 ay that of the preceding year. The pending, claims are however $45,000 less for 1903 than they were for 1902, unexpired risks about the same. The percentage of to Premia is 42.12 per cent against 3 per cent and Expenses 18.06 per cent 17.80 per cent.
Text read from the printed page and cleaned; old type leaves the occasional error.