The formal opening took place en Sunday of the new head office building of the China United Assurance Ca, Ld, at 84 Bubbling Well Road. The building was specially decorated for the occasion and a. large number of guests S*Gueate were reesived by Mr. A. J.
tended.
Hughes, Dr. A. Y. Ting, Gen, Hsu Kocching, Gen. Wang Ti-san, ex-fee roy Wang Teal-chun and other directors.
"The chairman of the day was Gen. Hsu" Ko-ching, who outlined in Chinese the history of the company. and said that, at, the end of 1925, the Society had Tig? 11:700,000 business ju force and is. 1,760,000 in assets. Tt paid Tls. 1,713,000 in claims and Tls. 439,000 on maturity last year.
Mr. A. J. Hughes, the general manidger and honorary director, in introducing Mr, Stirling Fessenden, Chairman of the Shangh: cipal Council, said "The completion of this is another mile-stone on the road t> the fulfilment of the aims of the promoters of the China United As-Suranee Society. The Society was} started in June, 1912, just after the inauguration of the Chinese Republic, of which to-day is the Anniversary, in the hope of doi something of real constructive value for the new order of thing:
knew and succeeded in convinug some of my Chinese friends!
ho subscribed the necessary capital that popularly supported banks, life insurance companies and—other financial entorprnes which <onstiture Sre'of prime importance in national stories of the peoples'
economic development. They contribute largely to that capital without which this would be impossible The funds of such corporations ro-present the material essence sf} thrift, prudence and well-directed energy. These aggregations of popular savings lie at the very foundation of national stabil prestige and prosperity. This build ing, for example, in effect has about 10,000 owners and is only a tuft Indication of what such funds can accomplish.
A Building to be Proud'of Most of the original promoters of the Society are here today though we sorely miss and deeply regret the absence of Mr. Chu Pace san, who, until a few weeks ago, had' been' continually the chalrmai of the Society from its inception.
Naturally we are all very proud of this building and on behalf the Direstors and Executive staff opportunity of ex. a more public manner:
hitherto been possible our appreciation of our architect, Mr. Elliott Hazzard, whose finished work: speaks for itself of his professional skill, He was specially selected having had a wide and valuable experience in the erection of similer buildings in New York and the benefit of that experience has been very much in evidence during the whole course of designing and cor struction. In this connexion, I must! not overlook Mr. Hazzard's assistant Mr. Kent Crane, a pupil, at ons time, I believe, of the late Mr. Stanford White, America's most celebrated architect. The fine cei ings, bronze grilles and doors and other interior decorations are of his designing.
1 must also express. our appreciation of the work of Mr. A. Gorritt, on whom has devolved the! great responsibility of structural engineer of the building. As thof his skill and experience with Shanghai conditions Tam able to say that, so far, there has been no appreciably settling of} the building which probably consti tutes an' unique record for! Shanghai, Considering its unusual height and weight, with a tower ig 120 feet above its nine storeys this is an achievement of which Mr. GCorritt has every occasion to be proud.
T take this opportunity of disposing of a rumour which has Teached us in regard to the land on which this building is erected. 1 is not leasehold but freehold proerty, our own in perpetuity. The whole consists of a square block of nearly 12 mow of which this buil@- ing and the garages in rosy occupy considerably Jess than the. present}
very rapid expansion of the com-market value in anticipation of
much more profitable. investment) than the Central District afforded. Both these anticipations have been realized.
An Example of Ca-operation Mr. Fessenden said:—We have met here to-day in recognition of a memorable event] in the history of the China United Assurance Society. It is a genuine pleasure to me to be present and to join with many others in cele-rating the formal opening of this imposing building which would be a credit to any city in the world and ig a striking architectural accession to a city which is rapidly becoming notable for its modern office buildings.
Tam sure munity, Chinese and foreign, exter its heartiest-congratulations to the directorate upon an achievement which affords the most obvious proof of the splendid progress and development of the Society from _1¢s inception," and, which -is a lasting monument to its business acumen, foresight, and judgment in securing this commanding location in the van of building progress in this rapidly expanding city.
Although the Society is a parely Chinese enterprise, it. is entirely] foreign in its conceptions and methods of management. These} conceptions and methods could not have been acquired and put ints practical operation without the exercise of mutual good-wil operation between the Chi directorate of the Society and its {ereign general manager, who has; devoted many years of his life to its service, In many ways the China United Assurance Society is Striking example of what can be} accomplished in this international community by the spirit of toleration and the exercise of that good: will and ce-operation which it hus fallen to my let to advocate upon more than one public occasion, Result of Shanghai's Growth The handsome building is ficant of something more than m ly a, valuable acquisition to point of view, or a testi monial to the energy and success of a particular business project. It} reminds us that conditions in the Settlement favourable to trade, com merce and finance generally' have! contributed in no small degree to the development and prosperity of the Society and that the success of] the Society, coincident og it is with the amazing commercial expansion of Shanghai, would not have been possible had not administrative and, social conditions also favoured such development.
Foreign interest and pride in your] achievement rests therefor only in the fact that the Society is fa child of the Settlement born ant reared, but that as a purely Chinese. enterprise, your progress and] success testifies to the justice and fairplay which has extended to al! residents alike impartially and without racial distinction the benefits and advantages of a sound and efficient municipal administration. (applause).
Other speakers included Dr. V. K. Ting, Director of the Port of Shangand Woosung, Mr. Fu Chians, Shanghai Taoyin, Mr. Hsu Yuaa, Commissioner of Foreign Affairs, and Mr. Yuan Li-tung, Vice-Cha man of the Chines General Chamber of Commerce.
Among those present, apart from: the sperkers were Mr. H. Browett, Drs, Burton, Noclting and Hibert, Mr. C. E. Sparke, Mr. H. J. Clark, Mr. J. Macgregor, Mr. H. Sheridaa, Mr. A. Akehurst, Dr, W. Parsons, Mr. E. T. Harris, Mr.
Edwards, secretary of the Shanghai Municipal Council, Gen. Wang Yah-tse, commander of the 13th Ciékiang Regiment, Mr. Kuan Chun, Senior Magistrate of the _Interzational Mixed Court, Mr. Tao Chia-yao, Director-General of the Kiukiang Commercial Port Bureau, Mr. Wang Chin-ling, former Minister _of Education, Mr. Wen Tsung-yao, former Minister of Foreign Affairs, and Dr. Fong F. Sec, Tur, Chinese Journalists Associa. tion is soon to conduct " campaign for the purpose of influencing people to make more use of the press, both. by reading the news columns' and advertising and making use of ad-
Text read from the printed page and cleaned; old type leaves the occasional error.