Chairman stated that nett premium income showed an increase from $128,782.92 in 1934 to $137,881.07 in. 1935. Losses unfortunately advanced from $62,721.54 in 1934 to $78,807.97 in 1995 giving 'a loss ratio of 8737 per cent. In spite of this however the Corporation were able to appropriate $25,000 as additional reserve to the Fire Fund which now stands at $193,- 765.88, and to carry to Prot & Loss Account a balance of $27,380.92 which ko considered a fairly good showing considering the general trading conditions which existed in the country.
In turning to the Accident Account the Chairman stated that income from. motor car business increased from $11,272.70 in 1934 to $12,550.57 in 1935, losses "amounting to $3,029.23 as against $1,995.52 for 1994 or 28. cent. which although an morea still very satisfactory.
Dealing with the Proftt & Loss Account the Chairman stated that this! showed a balance of $77,57545 which had been appropriated 96 follows:
Provision for payment of a divi-
Provision for payment of Direc. end. os 25,000 tors and Supervisors Fees and Management Bonus s..cess+++ General Reserve Fund".
Accident Fund...
Text read from the printed page and cleaned; old type leaves the occasional error.