Fire business suffered a definite set back. In the Shanghai area fire premiums decreased by approximately 50 per cent. as the direct result of the absence of premium income from Shanghai Outports and a smaller volume of business in the City itself due to the destruction of Chapei, 120 Nantao and a great part of the East-em District. Fire income in the 75] interior was maintained fairly well until the latter half of the year when the fall of Hankow and Canton brought about adverse results. Most of the members of our Hankow staff evacuated to Chungking and our offices were removed to the French Concession to provide better protection for the few remaining members of our staff who carried on for the purpose of rendering service to policy holders.
Text read from the printed page and cleaned; old type leaves the occasional error.