May 915-914—% May Joly 8012-809, +46 July 0834-683; The chairman's speech follows:
It is my pleasure to have the opportunity of submitting to you a favourable report of the company's operations for the year 1940 which resulted in a net gain in surplus of $2,141,913,63, It is paradoxical that the company should have had its most successful year during a period of great uncertainty, anxiety and troubled conditions; but it is during such times as we are going through that insurance plays an important role.
'The directors' report and accounts, having been in your hands for some days, I will, with your consent, take them as read,
Text read from the printed page and cleaned; old type leaves the occasional error.