The snvsal general meeting the Nor.u China Insurance Ca., Lil was eli un Thorsday afternoon la the ov nf the company at 26 the Bund. dir. W. Nation presided, and was sorporled by Messrs.
Lambe, H. Martin Little, F. W. Poate, R. W. Wells, and C. Gordon Mackie, directors, and Mr. C. M. G. Burnie, general' manager. There were shareholders representing 9,873 shares present.
Chairman said:
Working account for 1925—The foalance.to be dealt is Tis.
328,445.36, Your directors recommend the payment of a final dividend of 25 shillings per share for the year, and the closing of the account by transferring the remainder to the credit of underwriting suspense account.
Working account for 1926—The premium income at Tls. 2,170,627.57 exceeds that of 1925 by about Ti '358,000. This increase, however, is attributable to the lower rate of sterling exchange. Our revenue in sterling is at about the same level as that of the previous year.
The balance at the credit of 1928 working account is Tls. 573,549.48 and your directors recommend that this be dealt with as follow:
To pay an interim dividend of 25] shillings per share.
To pay the usual 20 per cent. bonus on marine contributory pre miurus and to carry the remainder forward.
The ratio of losses to premium is
cent, last year, It is to be hoped that the second year's payments this account will, be lighter than. usual.
The Resolutions That a final dividend of 25 si ings per shave be paid at exchange 2/6 13/16 per tael and that the mainder be transferred to underwriting suspense account to close the Account for 1
That an interim dividend of 25 shillings per share and a bonus of 20 per cent. upon contributory marine premiums be paid at exchange 2/6 13/16 per tael.
The Chairman:—The dividends and, bonus are subject to income tax.
That Messrs. Kearton, Lambe, Martin Little, Mackie, Massey, Nation, Poate, and Wells be re-clected directors of the company and that the remuneration of the directors be taels eight thousand per
Text read from the printed page and cleaned; old type leaves the occasional error.