Balance of $77,575.45 for Distribution The fourth ordinary general meet ing of the shareholders of the China Assurance Corporation was held on Tuesday, April 21, in the board room of the Shanghai Commercial & Savings Bank, Lid., Ningpo Road. Mr. Bang How, chairman of the board, presided over a good attendance Fepresenting a total of 4.485 shares.
In presenting the Corporation's account, balance sheet and directors' report for the year 1935 the Chairman recalled to the shareholders the extremely adverse trading conditions which prevailed in 1935, the depression reaching its worst in that year. Whilst the results for 1935 did not compare so favourably with those of past years, steady progress had been made nevertheless, Rates continued to decline and this was a matter of} concern as it was becoming increasingly apparent that from an underwriting point of view fire insurance could not be profitable if existing conditions continued. A scheme aimed at the prevention of a further slide in rates for Chinese business hod been agreed upon recently as a result negotiations between the Chinese and foreign associations and ko hoped that the regulations now introduced would receive the genuine support of all who are interested in putting Chinese business on a sound basis.
Text read from the printed page and cleaned; old type leaves the occasional error.