In the marine account, the amount [transferred to profit and loss account $166,717.36, "compared with $90,- 689.74 the previous year.
Tu the fire account, the amount transferred to profit and loss account $04,587.88.
is not possible to make a com-ison of this gute with previous Years as the results shown are for nine months working only. A special reserve for unexpired fire risks has! [been set up to meet this situation and the "position will be automatically adjusted next year when a full twelve months. business will be shown. The change has been adopted to facil fan earlier presentation of the 0 counts, "The accident and general account! Jshows-a loss of $1GA49.11 and it hoped that our continued efforts will rectify this position during the com-jing year.
'The balance at the credit of profit Jand ess account after' making provision for the dividend and. ce ributory bonus is $4084,470.81 compared with $3,990,025.19 last year and Jout of this your directors recommend that $1,000,505.22 or £100,000 be transferred to the credit of the reinsurance fund.
You will notice that the dividend recommended is §3.80 a share and a bonus dividend of $1 a share, which fully covered by the interest earned on investments,
Jshest which requires special -com-"mere is nothing In the, balance ment but I may mention that our Investments are valued at or under the mean market values as at December 31, 1996,
Text read from the printed page and cleaned; old type leaves the occasional error.