The annual general meeting of the Yangtaze Inauranee Association, Lal., was held on Thursday afternoon in the offices of the company at 23 the Bund. My, B.A. Clarke pre and was supported by Messrs, B. Firth and A. Gray, directors, and Mr. C. M1. G. Burnie, general manager. There were represented 147,780 shares, The Chairman si Working account for 1925—The balance to the credit of this account in $687,095.12 and your directors recommend that this sum be transferred (0 underwriting suspens> account to close the account for the year 1925. After this transfer the amount at credit of underwriting suspense account will be approxi mately $1,145,000 as compared with $3,315,000" at' this time lost year. You will, I think, feel satisfied that this in a very ample reserve for all claims chargeable against. this recount.
Working account for 1926—Our fe] Premium income is $4,544,010.21 against $4,248,823.70 for 1925. Losses and claims, however, show substantial advance,' being. }$2,140,198.76 against $1,868,058.12 last. year.
The balance at the credit of 1925 working account is $1,180,538,84 and your directors recommend that this be dealt with as follows:
Pay a dividend of $2.25 per share which will absorb $337,500 and ear forward the remainder $843,038.
Turning to the balance shai Jexchange and investment fluetuaticy account at $1,503,275 shows an ap. preciation of about $900,000, due very largely to the fall in sterling exchange. Sundry creditors are Tess by about $500,000. Our total assets stand at $12,975,000, an in-Jeraese over last year of $800,000.
Much has happened in China since our last annual meeting. T) immediate prospect is gloomy a the future is obscure, but we can at least be optimistic and hope that the day is not far distant when China will enjoy an era of peace fond prosperity under an aden government.
Text read from the printed page and cleaned; old type leaves the occasional error.