The annual stockholders' meeting of the American Asiatic Underwriters, Federal Inc. U.S.A., was held yesterday at the company's offices at 17 The Bund. Holders of 53,029 common shares were present or represented at the meeting, at which Mr. W. T.
ivan, President of the company, chairman. the calendar year 1938.
Directors of the company elected at the meeting are Messrs, C. V. Start, W. T. Sullivan, A. B. Park, H. L. Yung, H. M. Blake and G: C. Bruce.
The report of the President on the company's operations during 1938 is as follows:
Similar to previous years, the statement of operations has been segregated to show separately the results obtained from Insurance Agency Operations and from Investments.
The combined profit from Insurance agency operations and Investments totalled $156,196.72.
Throughout the year our business was unfavourably influenced by the continuance of war in China, resulting in a decrease in income of approximately 17 per cent.
Text read from the printed page and cleaned; old type leaves the occasional error.