In the Fire Account the sum of $315,847.88 being the profit for the Year is transferred {o Profit and Loss 'Account, and this result can opinion' be. considered very satis factory. The Accident and General Account shows a welcome improvement during the year. Our experience of this class of business for, the past three years has not been Satisfactory, but this year the Ace cident and General Account has produced a profit of $50,732.37, which carried t0 Profit and Loss Account.
The usual provision for bonus to: contributors has been omitted from this year's Profit and Loss Account as this "item has been included in the Marine Account, to which it properly belongs. The dividend recommended of $250 per share is the same as last year but the bonus recommended has been increased from $100 per share to $650 per share. This increased bonus is recommended, mainly to compensate currency de~ redation and after allowing for the dividend and bonus recommended the balance of the Profit and Loss Account carried forward amounting to $3,256,980.00 is considered adequate.
Text read from the printed page and cleaned; old type leaves the occasional error.