The negotiation preceding the agreement between the insurance companies in the south and the existing government occupied al year and what is describ "unofficial arrangement" by arrived at between the Prov Government of Kuangtung and the foreign insurance companies operating in Kuangtung and Shameen.
It will be remembered that in Qctober last the Department of Finance of the Provincial Govern ment of Kuangtung - suddenly. sprung on all insurance companies operating in the province a set of 44 regulations, in which—they. demanded instant registration of all the companies agreeing to bind themselves to. these regulations.
Some of he conditions set forth in these regulations were quite impracticable and would "not have been accepted by any companies.
After atime negotiations began between the Fire Insurance Association of Hongkong and the Marine Insurance. 'Association "of 'Hong: kong and Canton anid tie represttnatives -of the local Govetmmokt, 'At first,' it -was extremely '@imienlt }to bring the Government represehtatives to-see the: point of-view 6f the companies and yo make them realize that the "terms "they, wanted "to impose would only have' the tifect0f driving all responsible "conipartes fom 6f the province.
The. New Requirements 'However, the Government have 't last come' round and drafted an amended set éf rales. Brity, these are as'féllows:
(1) 'AIL companies. operating "in Kuangtung and Shameen shall Yegigter "with the Department of Finance of the Provincial Government and pay an annual registra tion of Mex.'$100, (2) All companies in filing. their application for registration -ehall five a letter of guarantee. signed }by a foreign or Chinese bunk, firm or individual approved "by the Department of Finance for Canton for $50,000.
(3) A copy' of the balance sheet each company shall'bo fugd every (4) 'AMI business must be done through registered brokers, However, any company may register one of their own employees as a broker anid so do direct busin (5) A stamp tax of 1 per cent, of the gross premium to be put on every policy issued. This stamp miny"becharged bythe company to Treaty Rights Waived have been approved by the "Fire Insurance Associations -6f Hong-
Association of Hongkong and Oan-it involves a waiver of exist it These communists used the names of the various. Kuomintang branch offices to deceive the public. I schemes will never be. sycee for all faithful followers of San Min Principles. will ce-oper with and support the Central Govermment. surance Association of Hongkong and the Provincial Treasury, though it is understood that, officially, they. the foreign companies from com-
'A Parallel Case "It is of especial importance that the bankers will not be deceived by the propaganda of such reactionary elements, due to their close relation to the welfare of our government.
the general public. Once the disbandment programme can be put: through, there is increasing hops for the rehabilitation of China, We! trust that the bankers, ike" all other faithful members of the Party, will support this pro-
Text read from the printed page and cleaned; old type leaves the occasional error.