SOUTH BRITISH COMPANY
LOSSES IN CHINA WAR AND TYPHOON [ Per Press Association. ] AUCKLAND, Oct. 28. Special reference to the heavier percentage of losses sustained during the past year as the result of the war and typhoon in China was made by Mr. D. R. Wilson, chairman of directors, at the annual meeting of the South British Insurance Co. to-day. He said, however, that shareholders need not be alarmed at the company’s losses. At the time of the outbreak of hostilities the company had a little over £lOO,OOO at stake in Shanghai. Since then, through policies maturing, the figure had been reduced to about £50,000, and of these policies little less thun half were situated in the war zone. The losses so far had not been more than about £16,000. Reference was also made to the disastrous typhoon that swept Hongkong last month, for which provision had been made in the accounts for the year under review. At a special meeting of directors proposals to reduce the par value of shares from one pound to 10s each was carried. This proposal would become operative on January 1.
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https://paperspast.natlib.govt.nz/newspapers/WC19371029.2.119.4
Bibliographic details
Wanganui Chronicle, Volume 80, Issue 257, 29 October 1937, Page 11
Word Count
186SOUTH BRITISH COMPANY Wanganui Chronicle, Volume 80, Issue 257, 29 October 1937, Page 11
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