Shanghai Life Sued by Founder's Widow: Two and a Ha!lf per Cent. Claimed on Premium Income An action involving a considerable sum of money—two and a half per cent. on the premium income of the Shanghai Life Insurance Ca., over a period of 10 years was begun in H. M. Supreme Court en Thursday, before his Honour Judge Grain, plaintiff being the widow of King Chun-kee, the founder, or one of the founders, the defendant company.
Mr. R. G. MacDonald appeared for plaintiff, and Mr. Duncan MeNeill for defendants, Plaintiff's claim stated that she is the widow and Legal personal representative of King Chun-kee, deceased, a Portuguese citizen, ' and defendants are a British registered limited liability company carrying on life insurance business in China, with their registered office in Shanghai. (2) Under a covenant March 10, 1905, to March 10, 1915; defendants agreed to pay to K Chun-kee 2} per cent. on the mium income of the company for a period of 10 years from the date thereof. (3) Defendants have refused to account for and pay to the plaintiff such moneys as may be due under the said covenant.
The plaintiff claims (1) an account of the said premium income of the defendant company from March 10, 1905, to March 10, 1915; (2) Payment of the amount found due.
Text read from the printed page and cleaned; old type leaves the occasional error.