5 MAY 1928, Page 36

OCEAN ACCIDENT REPORT.

The annual Report of the Ocean Accident and Guarantee Corporation discloses a strong position. It -may be recalled that practically all the shares, are held by the Commercial Union Assurance Company, and probably in consequence of that fact, a certain amount of detail in the accounts is lacking, but the financial position is good. The whole of interest earnings of about £306,000 is carried to Profit and Loss, and after paying a dividend costing £300,000, the balance carried forward in Profit and Loss is increased from £508,000 to £550,000, while in addition there is a Reserve Account of 1300,000 and an Investment Reserve and -General Contin- gency Fund of £426,303;