SCOTTISH LIFE ASSURANCE.
In the absence of the Duke of Atholl, through illness, it fell to the chairman of -the board, Sir John L. MacLeod, to Place before the annual meeting of the Scottish Life Assur-
ance a very prosperous report. During the first half of 1927 business was affected by the after-effects of the coal stoppage, but so marked was the recovery during the second half of the year that 1927 finally proved to be a record year. New assurances amounted to £1,182,000 and the net new business to £1,118,000, being a larger amount than in any previous year. The interest on the company's funds represented a gross rate of £5 lls. 11d. per cent., as compared with £5 lls. 2d. per cent. in 1926, and meant a net rate of £4 15s. 7d. as compared with £4 15s. 2d. The chairman pointed out that the continuation of a net rate of interest of over 4 per cent. was a matter of the greatest importance, as it was the margin of interest earned over a per cent. which really counted.
A. W. K. A. W. K.
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