In commenting upon the results of operations of the Corporation for 1937, he stated t the net fire income increased by a small sum o'
eticnHy $5,016.00 as compared with 1938-and totalled approximately $192,403.00. Net losses increased by approximately $16,256.00 over 1936 totalling just over $10225600. The net loss. ratio is 53.15 per cent. as compared with 4589 per cent. for the> previous year. The Corporation suffered comparatively lightly under a féw.war risk policies still current when hostilities broke out. A majority of cases sustained only small losses. Some policies actually e: pired just before the hostilities spread to. that region.
A credit balance 0%] $114,260.93 is carried to the Profit and Loss account.
Dealing with the Marine account be reported that gross, income was up by $235.510.00 over 1936 a rise of n€arty-81.07 per cent. Net marine income, however, did not have a proportionate increase. Marine loss experience was not so fortunate. A small debit balance of $1,138.60 had to be transferred to the Profit and Loss account.
Vessel Reaches Hongkong With Assistance of Tug;
Text read from the printed page and cleaned; old type leaves the occasional error.