Shanghai, May 3.
Sixth Ordinary General Meeting of the shareholders of China Assurance (Corporation was held yesterday in the Board Room of Shanghai Commercial & Savings Bank. Mr. Bang How, Chairman of the Board presided.
Before the meeting.opened Mr. How expressed sympathy on behalf of the meeting to the family of the late Mr. T. K. Yung who served director since the organization of the corporation six years ago.
In presenting the Accounts, Balance Sheet and Director's Report of 1937, the chairman stated that the effect of the unprecedented destruction as a5. result of the present hostilities" on insurance business is most telling. He commented on the many problems that confront the insurance business fat present. He stated. that "wholesale' cancellations of current policies were asked by insured following the fall of every city wherein we operate, Although under the circumstances we were happy to be released from all possible liabilities in this way, the heavy outlay of return premium made very serious inroads into our income."
Text read from the printed page and cleaned; old type leaves the occasional error.