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_f _ The Qirectgrs have pleasure in submitting their 68th Annual Report showing the transactions of the Company for the past year and setting forth the financialposi- ~ ,1 4. _ ~ A __ ~ ' i'imi?"#=8 ‘lliust D. _cember 91 1 _ _ Tim Yniurs iii:si_i\'Ess. . ... - _ . _ . _ _ ~ ___ __

1 _ ' ' th A 7,059 _ f ` surances, a gregating $17,051 685, were received by the Company, but as 251 of the e did, not conform to the stan ar Set

by; '¢,_”P]g§,i§¢§\;0m? gli; were S Ilqiiralier informa§io`_"ii_fwas requ_ired_iii _connectioii with 184 cases, so that these could not beiiiially disposed of before the end e‘f'D_ec- 9' ,ry 'tying' _ lyefcompleted durin the current year. Policies were issuedzin response to 6,624 of the applications, and_the new ,assurances assumed to the _ainou_r'ij_t‘ of ' 5 ‘fi policies paid for during the twelve months covered assurances for $14,034,785". The total assurances in force now amount to'$157,407,170.53. `_ _ ' _ ‘ ` ` ' if _ _ ' . _ 1.\‘co.iii-:. - V . .~ V ~ _ _ _ _ _ -' V "Thiel premiums for assurances, new and renewal, after deducting payments made to other companies _for i°eassuraiices, amounted to $4,825,260.24,_and the ciineigleré _ zi'ti¢insa'i¢i`r"annuities to $764,690.13. _ The interest income, including profits realized on the sale of'sec_urities, amounted_ to _$2,844£86.07. The" total .income from; all- sduiiées was $'8,488,071.11-an increase of $343,185.41 over that of 1913. _ _ _ _ _ " . ~ »_ _- _ -L 'B ~‘ ' = A ‘_- _ ‘ ' _ THE I'.\\'Ml~:.\'i‘s. _ » ~ _ '» ~ ~ _ The payments to policyholders and their representatives during the year, in settlement of_ death claims, matured endowments;-_ annuities, ‘dividends and_cash val-' _ ues __ for _policies surrendered, amounted to $3,362,_483.99, an _increase of $484,467.88 over those of 1913. In _additionlto this, loans were _made to policyholders' j on gie_'ouifity_i of their policy contracts with the Company to the extent of $1,869,341.88. Repayments made during the yearon this_accoi_int_amoun_ted _to $742,508.14, _mak-

ing.-aaiiet increase for the year of $1,126,833.74.. _ _ _ . _ _ g L _ i Q

1 - A » _ - 'ru-is .~\ssE'i‘.s. ' ._ s .

'_ -_The total assets of the Company on the 31st December amounted to $56,103,841/70, an increase during the year of $3,942,046.89. In view of the largely increased

paym.ent'_sV‘»to policyholders during _the past year, this increase in our assets, which is greater than thatof 1913, is very satisfactoi'y._ 1 __ f_

T af. i 'rim _st_'iii'I.iJs ’ ‘ - A - » * ' The stringent basis of valuation adopted by your Directors in 1900 has again been eniployedin ascertaining thepolicy and annuity _l_iabilities, and it was found

that the resulting reassurance reserve amounted to $46,663,866, an increase of_ $2,387,466 over that required at the end of 1913. After providing for all 1iabilities,if‘or ra

contingent reserve of $200,000, and after allotment of _%I,317,773.81.to those entitled to share during 1914, the net surplus amounts to $6,198,988.84. The' surplus' 'ac-_. ' tually earned during the year amounted to $1,533,484.2 ,f--which shows that the year 1914 has been one of the best in thehistory of the Company. '

- . ` " t‘l'lANG1-is UN 'rim i¢0.\icli. A ~` A » _ 1' 7 ‘ 'l'lie_iarnented death of Hon. Geo. A. Cox, Senator, for iu:iiiy years this (`?on1i'-ali;-_"s President, took place on the 16th day of _Jaiiti'_‘-ry 19 34, after the ieport for ll-'-i3'-3

had .beenrissued and before the annual meeting, and. F. i.eM. Grasett, M.B. Edin; Univ., F.R.C.S_., E., was_elected to fill the vacancy on the`Board. ' The untimely and deep-_ l' regretted death within a few months thereafter of Mr.Edward W. Cox, who -had succeeded his father in the Presidency, and the loss to our Board through the recent tleath of Hon. Robert Jaffray, Senator, left two vacancies on the Board. To fill these Mr. Herbert C. Cox was elected to -the Board and to the Presidency, and Dr. John

Hoskin, K. C., was elected to the Board. _ - . ' ‘ ';”q§1g,,.3,` ,,. ___ " _

.. THE LONDo.\' ii0AR-ii. _ _ :fi W ....._- .. A i - _

g It is with gerat pleasure your Directors acknowledge the valuable assistance rendered by the members of thc London Board and of the Advisory Boards at the var-

ious Branches in the United Kingdom. i _ _ -

~ _ THE s'r.\i=i~‘. -_

Your Directors again desire to record their appreciation of the efficiency and zeal with which the Officers and members of the Staff, both at the Head Office and at

the various,Branches, have performed their respective duties. ~ 9 - i _

_ A - ' ° On behalf of the Board,

Toronto, 11th January, 1915. _ _ - ` HERBERT C. COX, President.

_ " BCAQB QF' DIRECTORS

HERBERT C. COX, President and General Manager HON. J. A. LOUGHEED, K, C., Senator.

J. H. PLUMMER. D. C. L., Vice-President, . - ‘ Calgary'

- President Dominion Steel Corporation. KENNETH MACKENZIE,

Rosiiirr iucxiinnliu-:, M. P., C“f>“a"S'» Winnipeg- ‘

M0l1U'@ll- LEIGHTON MCCARTHY, K. C..

Vic -P ld t N tli \ Al i ‘ ., .

l§;slt)n‘;2{Ie\._ ';_l}ng3_X,1_q’ Vice-Piiggidgiit Iii(iiroiielCarbldeugoHu$ Cgnaltlliti

H. A. RICHARDSON

ALIB§c?t§.l;~E,§,l]u\B»§£F(|}% K' C’ General Manager llnnk of Nova Seotiii.

' ROBERT STUART Cl'l°C8g0 Ill.

99t55@»i9N’ » ...:3s:;rs:::::i:;..ani.asiss..’

. ‘ . S ` . , . . M. ., '

COL TggcgpgnadigB{g‘I%§Cg\£‘mgg‘?§‘9n1Et'°’¥ C " G llrcsidciit (‘ciitr:iFCa§i.da‘V3igP;nil Saviii s (‘o F. LCM. GRASETT M. B. Edin. Ul1iV. F. R. C. S.; E. \'icc4Prcsident National Trust Co. g 'V I

Directbr Consumers' Gas Co. ’ *`-l’olicyliol<lcrs' Directors.

DR. JOHN HOSKIN, K. C., "

President Camilla Landed' 'and' National lnvcstinciit Co. <

Director Toronto General Trust Corporation.

' STATEMENT FOR THE YEAR ENDING 31st, DECEMBER, 1914.

_ Receipts ~ ; Payrhents

Balance of Ledger Assetts as at 31st December, 1913. .. $50,159.808.78 I Death 'Claims (including $_l25.325.10'B0nllS Addill0nS) -------- -- $2.03_0.587.48 First Year’s Premiums ....................................... _.SS 524,215.57 _ EnCl0Wn1€nlS lVl2lll11‘€d (lnClU<l1n8 $25,616.06 Bonus Additions .... .. 4l0,729_06 Renewal Premiums ...... ...... __ ______________ __ 4,40o,126_89 - V - Surrender Values paid to Policvholders- .............. 396,119.83

énn;1it¥ Qonsidel-ati@_n5___ _________ _____ _ ________ __ _ Rividetnids to Policyholders (exclusive of Bonus Additions)._....... inge remiums app ie to purc asc' onus itions.. ,' . nnui es ........................... ...... ._ .. ....... ._ , _ 5

"*"' "' ` Commissions, Salaries, etc _______________________________ _ __ _ _ _ _ _ _ _ 3g2,(,09_92

Less Re-assuance Premiums ................. ._ _ Taxelg' §“f3e';°§S_a“d U°Vemment Fees l°X°l“5iVe of Taxes on

""""""""" ' ea sae___...

Toni Net Premium Income ................................ .. 5.589.950-27 A11..t..#nxp..din...___ _ _ _ _ __ _______________________________________ __ aiiigii 32 lnteéest lgieludgrés Reins) .................................... .. 2.733.374-23 _ i Dividend nt ap. C. on $i,ooo,oQo_.oo paid up capital _______ __ ....... ._ so,noo.oo _ ll;I_'0_dt 0% E30 . €CU1'll1€lS~t---~-_-~I-~~' ~ - -- - 3 734 67 ' Depreciation in value of Securities ..................................... .. 55,587 50 W1 Cn S e f t0 ZCCUUIU 3 C 3 mf'-‘1'eS » - _ Balance of Ledger Assets... ..................... ................... ._ 53,839,027 04

Total Ordinary Income ..................... __________________ __ _ __81_4_§8lQ7_1_.1_l . `

$58,5‘_)7,879.89 _ ‘ _ _ $58,597,879“8`9

l t

‘ "‘ =* .- '. ` "ff ' ' ._ _ . »

Assets . _ ` ‘_ Ligbillties

Government, Municipal and other Bonds, Stocks and _ _ Nei l<@'aS5UI‘11}nC€ R€S€fV'_51 Hm- 3 P- C- BBSIS f01‘ all Participating

Debentures ............................. .... __ __ ..._ _____ __$l9,00z_,4_99.39 assurances issued after 51_St_. Decem'b€‘r.l899. and_Hm. 3 1-2 p.c.

Mortgages on_ Real Estate ...... ............ ______ 20_49o,155.44 _for all other assui-ances;Britisli'GOVQUIIHCUT Annuity EXP¢fl¢nC0. Loans on Policies ._ ....................... . . . _.__...._ .................. ._ - 9,028,482.46 3 p. c. and 3 _1-2 p. c. for Annuity Contracts. $46,663,866 00 Real Estate (including Conipany’s buildings in foronto, Mont- instalment Claims Reserve ......... __________ .1 .... ................... ._ 213,078.00

real," Ottawa, St. John, Winnipeg, Regina, Edmonton. Calgary, _ Contingent Reserva ......... .; ....... .................... ._ 200,000_00 _Vancouver and London, England) ......................... ......... __ 3,6_10,682.29 Claims In Ceurse of settlement _____ ....... _._ ............................. ._ 340,211.83 Loans on Stocks and Bonds, etc ...................................... ._ 787,380.27 _ Surrender Values claimable_ on policies subject to revival ._ 21.7,428_,00 Cash in Bank and on hand ______ ._ _____________________________________ __ 913,827.19 _ Dividends to Polwvholders in course of payment ________________ __ 975,296 64

‘ Ledger Assets ______________________________ _1__; ___________________ _ $T53}ss9_o27.o4' Taxes on Premiwns including 1'f°\'in¢i=lT=1><¢Sin diSpu‘te...'. 86,599.20

: Due on account ot General Expenses _______________________ __

1 OTHER ASSETS _ Annuity.Payments outstanding ................. .f """"" H

Premiums in transit, and half-yearly and quarterly premiums ’ ' Premiums an_d Interest paid in advance .................. .I ....... ,_ 18,8 .62 payable within nine months, less cost of collection ........ 853,144.07 Shareholders Account .............................................................. ._ 152 725.81

(Rc-serve on lbove item included in Liabilities) ' Capital StOCk paid up , _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ___ _“___

Interest and Rents due and accrued ................................. ..%i4l_1_,(i_7_.Q59 Surplus .................................... 'I """" H 6198? '84

_ _ _ _ » $56,103,841._70 _ _ ' ' ' ' ' ' 'H

-ri-as oANA|;>A i..|'_l'f-z Assu|=aANos |:>oMl=»ANv

~ ‘ AuDiToR's‘itEPoit'r ' _ '

-.,. __._._ . -

To the President, Vice-President and Directors 'of the Canada Life Assurance Company. ' Jan¢{a,:y_ 19»15_ ~ Gentlemenz- . _ . - < ~ ~ _

The audit of the Company’s books, which _has been carried on 'continuously throughout the year, has been completed to the 31st`.Dec_embe , 1914_ ` .1

securities representing the Coni_pany’sl9ans__and_investm_ents have also been examined, and the Cash and_ Bank Balances _duly verified, _._f"__ _ _ r _he ,_,a,.,0_{»f§__ _ __ I hereby_ certify that 'satisfactory vouchers havebeen '_pi.‘od_uced_ for the various entries i_n the books, and I _believe the same to be correct. “The accompanying states.; . ments of “Receipts and Payments” and of Assets and Liabil ties correctly set forth the position of the Company s affairs at the closenf the- gan . __ .__

i ' _ i Yours faithfully, RALPH -YOUNG, ¥`.C.A.,f Auditor. ` - . _ 'C _

_mined and A péovéd. 1 ` . . ‘ ’ '

' RKLPIII E. YOUNG; F. C. SA., l£ddit¢_it._ __HERBERT C. COX, President' and General Manager. C. R. ACRES, Sec|‘eta`r`y.' I

' . _ .K. 'cnafiotteniwnlsv it

II ‘~ 'll ffl" .H ’in\'.;.: _5, ;:_.\,.;.___-_ ._ _._‘_ ___ _ _ _ .. -