PAGE TEN
Annual Meeting of 'Weioomed To Home
0TIOE! HOLMAN'S WHOLESALE
GROCERY DIVISION
Will CLOSE At Noon i , Saturday, Jan. 31st!
ron iSTOOKTAKINIi
Open Monday Morning I At Usual Ilour.
a successful future, and, plays a but in the vital work of it Canada secure and free. ' roe the young man interested in it trade, the Royal Ca
ronsodon - and, of course, the Can
under-1,-adv enrmaileavewlllipay. ygtueewotuug
, i
'
Service in the Canadian Army is not merely a iob, It is a worthwhile career in which the young man tits himself for
slgnalaltaa much to oiler . . . outstanding trades traiain . . . special.
I plan, free medical and dental care, all daya service at home and overseas. In the signals with the moat up-to-date communication 7 that science can devise. Your experience . . to you wherever you go in the Army,
In Indian River
-A wcicome party. sponsored
P.E.l. Insurance (to. Held In Slsido , the women: Institute of In- dian River, was held on January
-The annual meeting of PrlI'iCB!22nd' at me new home or Mr. Ed”""'d mm” Mmudl Fife 1n'iFred Ready when a large number wnnce CWIPBHY W95 held lnloi friends and neighbors assem- fmlmmlde on Tuesday January bled toywelcoine him to the district - Tile retiring DT85id911I3. 301!” MC7I0fMhNdIEIEIIIEEINICYISACLBIIBH Master Intoah of Tienish vresided. As itiot Ceremonies, brieily outlined the is the Dmctlce of the Company toiobiect or the gathering and called rotate the Directors, Mr. McIntosliIo,, M,-, Man MQL,-413,, to read an retired and Mr. Chessel Annear ofladdi-955 or tmycome. on Den," of Montague was elected president: ithe Women's Institute. Mrs. Rus- M1'- 0505' JNIMWDC 01 L038 RlV9!”sci Campbell presented a wool W3-9 0150335 VIC8'DYe5ldCniv and MY-iblnnket while Mr. Andy Turner on T. Leland Linkietier or Summersideihehnit oi irionris and neighbors was elected secretary-treasiirer niidipi-pgcnted a substantial purse, Manager. The following is I! list oi; M1; R.-My m-kuowiedged m, 0m" d1F99I01i5Y T- J Illmim. 130- licniiy wciconic i'lll(l gifts in a. few dequc; John Mclntosli, Ti::iii.sli:i,,quit;1b1p it-mrds, Refreshments and Walter G. MacKen7.ie, Bi'ntinlbniir;lriaiicint: completed the program. Gregor Mccallum, laracklcy B9ilCllj: .. James MacKay. Charlottetown, R.j--e-- e-- R, 6; Albert Linltleiter, Summer-, bcrs. the financial report anti the side. R. R. Auditor's report are published else-
The directors report to the mem- where in this issue.
NOTICE
PATRONS KENSINGTON DAIRYING C0-UP ASSN., LTD.
4
Due to the change taking place in the business of
I the Keusington Dairying. Co-op Assn., Lld., a settle- nccounts owing to this
ment must be made of all firm by February 7th, 1953.
PRINCIKEDWARD ISLAND FIRE INSURANCE
THE GUARDIAN. CHARLOTTETOWN ,
F IN ANCIAEAIEMENT
COMPANY STATEMENT OF INCOME AND EXPENSES for the you ended December 81st, 1052.
INCOME: Net Premiums ...............-....... 51.13.549.94 Net lntereat , .15 Net Olilce Rentals ........ 353.42 .3l43,802.51 EXPENSES: Agenta' Commissions 8 11,791.48 Losses Incurred ,0w. Inspection Costa 714.25 Administration Expenses . 16,483.51 Depreciation on Building and Oiilce Equipment ........................................ .. 2,140.22 119,219.69 NET INCOME S 24,542.82
Dethci: Provision for Income Taxes 9.76126
SURPLUS FOR THE YEAR .................. ..: ....... ..
BALANCE SHEET December Slit, I952
ASSETS: Cash on hand and in bank ..... .. 3 11,729.47 Notes Receivable-caah premiums ......... 435.54 Agents' Accounta . .. 86.65 8 12,251.66 Dominion, Provincial and Municipal Bonds, at cost (approximate market value 8187,6593?) ................................ .. 5202,4451? Mortgages and other Securities . 78,978.52 Accrued Interest on Securities .. 1,152.58 282,578.54 Real Estate, at cost less depreciation ................... .. 46,752.71 834l,500.91 1.ranrr.rrrr:s: Agcnts' and Manager's Accounts ......... .....-.. 8 1,152.64
Provision for Income Taxes less
for in a sh t tim T-R-C' Ion ed-for relailei frorri my eciat'ic'panNr:r.'Ine
or Art'hritic pain. T-R-IC s--Canada's LARGEST-SELLING
gr y i med cine ring quu; relief from such pain. At d counters. only 65c, 81.35.
JANUARY M3o.g.195;s
serve increases so also does our liabilities in the way n.' carried increase. A The commission aid to the A ents a i I re . cent oi the premium income.- ' man" 5 to about IMO I)” The experlaea of administration or the Company amount to 114 N. cent or the premium income. This is a reduction from last vearl p Your Directors uat that the current year will be is successful year and will again demonstrate the benefit at the co-operative prin- ciple which underlies the ayetem of Mutual Insurance. msalteapecuully submitted this twenty-seventh day oi! January A,' 1)
Iiisuraiitm
Committee on behalf or Directors, ysigned: t JOHN Mumrrosni , CHESSEL ANNEAII, '1'. L. LINKLETTER,
norioi-:
Found Ileliel I-'roiI
OIATIO Hill
is to suffer with a dull. continuous
"I be
ache rom my hip down in leg" writea
Mr. Geo. F. Maccregor, IMII4 E. III: A ., '
yeincaouver. sgadyzipain ve mgvfm --Regular monthly meet. 8 0l' I'll I . '
was so gaiiifulgl coultricharl I wgeEt.naI).i))I'itl.eE ing of the Pnnce County
Fish and Game Association will be held in the Town Hall, Borden, on Friday, Jan- uary 30th, at 8 p.m. Public
are welcome. N. E. Ma,oLEOD, Secretary.
KENSINGTON RINK
FRIDAY, JANUARY 80th Junior North Shore League Reserve Army vs.
stranger stopped me. He ha once suilered much the, same thin until. he tried Templeton s T-R-C a. e recommended T-R-C a to me. I wish I could thanle him.
on't surfer irom Sciatic. Rheumatic Take Tempieton's
mad to "I I 047
ii'i'ii'aii iiiili-is
OM customer vepovia 70 established plants Item one poeltet seed and many report plant taunts ever 50. O a customer had 46 plants in but! 7 mom a from sowing. You too eon easily view than lovely and Iaaeinutlng plants ram and with variations oi Court a color in meat ovary planting. Cultural (older free with order. Ihle rare and is avail- Ibla tor Immediate delivery at SLW par
01. lit! "55 SKID AND NURSERY BOOK-loll
8 I
lverl
329,471.01 8341,580.91
Balance, December 31st, 1952
AUDITORS' REPORT
We have audited the records of the Prince Edward Island Mutual Fire Insurance Company for the year ended December 31st, 1952, and veriiiod the cash and bank balance: and securities;
As all Insurance is on the premium note plan. a reserve for un- warned premiums. as described in Section 69(4) or The Insurance Act, is not required to be segregated from the Company's general reserve; We have examined the reserve for unpaid claims and in our opin-
installments paid ...... .. .. s,5e7.2s .. . Mal ue and Dar-nle r. it serve for Unpaid Clai 241000 3 1210990 'Eg D I”? -' i D a me ........ . . . . 5 ' I I ' . DOMINION sun iiousr GameT1me 8:15
NETASSETS: ..iUllE(li)I'l0'I'
Balance. December 31st, 1951 S3l6,078.'70.
Add: Surplus for the year 14,780.56
. S330.359.26
Decluct: Net Investment in Oillce
Equipment .............................................. ... ..... .. 1.38835 KENSWGTON
Friday-Saturday 7 15-9115; Matinee 3:30 on Saturday. See Barry Fitzgerald, William Holden, Nancy Olson in "UNION STATION"
Where hundreds of thousands of people pass through every day-and this day . . . one of' them was a danger- ous killer! With Fitzgerald and Holden (railroad de- tectives) on his trail. Mystery! Action! Thrills! Sus- pense! And of course Romance in this show. Also
Serial and News.
ion ii is adequate:
We have verified the balances owing by agents. and by policy- holders for notes and cash premiums:
Alter deducting the not investment In oftlce equipment, as shown above, the Balance Sheet does not include as aaaeta itema prohibited by The Insurance Act from being shown in the ' atatements required to be filed thereunder: Subject to the foregoing comments, in our opinion, and according to the best of our information and the explanations given us. the iorcgoing Balance Sheet sets forth fairly and truly the state or affairs of the Prince Edward Island Mutual Fire Insurance Company in at December Slat, 1952;
All transactions or the Company that have come within our notice
have bden within its powers. H. R. DOANE AND COMPANY. Chartered Accountants.
Charlottetown. Prince Edward lalsnd, January 20th, 1953.
TO: TIIE POLICY HOLDERS OF PRINCE EDWARD ISLAND MUTUAL FIRE INSURANCE COMPANY
Your Directors wish to aubmlt the Twelfth Financial State nt of lhe amalgamated Companies tor the year ending December 31a, 1952. If there were no amalgamation this would be Sixty-Nine yeara Prince Edward Island Agricultural Mutual Fire Insurance Company would be in operation and the Fitty-Fourth year the original Prince Edward Island Mutual Fire Insurance Company vilbuld be in, oper-
ation.
The net premium income tor the year amounts to 3133.50.94. Thia amount is the largest premium income in the history of the Com- pany. '
Each year to which shows that this Compan of the island.
The net amount or interest collected as current revenu year is 59,844.15. This is slightly more than 1951. V
Our assets are in a liquid Xorm and are entered in our Financial Statement at cost. The market tor Dominion at Canada Bonds is oil, therclore the Bonds are not worth the original Value. 1Thla does not nflect the Company because your Directors can see no cause tor the liquidation or the Bonds in the immediate roraeeabie future.
7 our total investments excluding the building amount to 8282.- 576.54. This amount is made up as lollowa:
Dominion, Provincial and Municipal Bonds ....... ..... .. :ao2,m.17
Mortgages and other Securities ' 73,078.52
Accrued interest on Securities ..... .. ..................... ..... .. ”1,l52.B5
In our opinion the assets are all liquid and could be turned Into cash within a very short time. ,
The losses tor the year amount to 579.090.B. This amounts to approximately Filty-Nine per cent or our premium income. During the last lourteen years the percentage or income paid out in lanes has been approximately Filly-Seven. There is no daiinlte trend in regard to the ratio of losaos to the premium income. During the last ten yenrs the loss percentage or the insurance liability has been ap- prtoximately .00O20.
The following year 1952:
r the last some time we are able to re-atata this (act y enjoys the contidence oi the citizen:
e (or the
................... ..
is an analysis or the losses that wa'paid for the
Rural Risks ................................. ..................... -. 5 48,575.79 Stores .. 7,580.00 Feed Mills 8,000.00 Saw Mllla e.se3,oo Churches 2,438.54 Urban or Village Riaka ........ ........................................... .. 1,229.50
and the balance is made up oi sundry items. The lollowing is .an analysis oi the caulea of losses: Unknown 3 23,977.75
overheated Stovepipea 9,992.3! Faulty Shingles 116.30 Faulty Pipes .... .. 2.88.00 Lightning 3,715.58 Faulty Flues
Faulty Wiring
Exhaust or bac
Spohtaneoua Combui on . 2,515.00 Spark from tiue ........ .. asnod Fdully Fn ,.' 1,902.55
and the balance by other means.
Your Directors think that a large percentage oi the lanes the cauee,ot which is listed as unltnown could be avoided it a periodic in"- spection oi thebullding and heating equipment he made and the neces- sary, action be taken torthwith to eliminate any potential haaard. -
0 Vou'orI OIIUIHO If 5”” "9 I7 '5,” 7"" I7 ' ! As we have pointed out many times belora lire do not just Iiappen e and able to meet Army not require .010. pp 1- they are cauaed by some meana arid in a lot or c a the cause a eate- upgng 3 rant: should bring birlb urtihtster or other proof leaaneta. To protect our economy and save ear-elea deetructlon or liver . at we when veteran: or . A ii:.z;:';1i:.'.':::.'i: :.i:.i.:'..":.': :i:.'”i'::::." 9' '" -- mdm. -. ' 5.,-1.," 3.19,-mggign any, right . M ;l':ita waoeotlaeted ia,s1e,aoo.oo inaurance. We now any a 1, away or write to: RA I ' 't',h uh y I. h "3 Army. 1 .' No. I Peponnal Depot, Garrison Icvroelta, Halifax, N.S. ateadl ; ther.etore: :I'I'i'ml'IlAblI,itleI.N?Vt”N':l: I::r?uIN:. Out ' No.lC Reeruitin Station, , liabilities as you know araktha polielea or inauranoe which yeoarry. ' Iavrinoion st.,Armeory,-Ioningioni Harvey sn.. Helilox, N.s. our llabllltlel have increase but ao also have our aaaeta. Th eourlty e n,.A,,,,,g.m,;.i,,.om,.,125Ai(.,,.5..,ci,.,i.,,,...,.,,,,pg; , reserve ....centaga or the insurance liability haa beenlvery steady. . T," An" "mm" on" vim,” pmk sydnwms . we have a comtortable leeway between the minimum amount of . Mum" mfmu, A',m",,MM”',,.M.,' ' ' :::::'::,l'IqI.llrId by the Insurance Act and the actual amount of our . "'4'" ' "'N"'m”"”"""" '""""'"""N's' ,...,..,,... It haa always been the aim or your Directors to ireep the ratio t . between the insurance carried and the reserve in a good healthy ateto It ' and also pertorm the beat eervieea at the lowest ibla premium rate. , ' Our net incense for year an ta to lie the our lur baton t a' income. at ta dean 'l'he Income -rut enseenta I " M: -0 .. .t.....'- -v.:.:::.: . i-..::.... i."i..”-"..i':"" la appro mate an e - , Your Director-a real that the time. in not e '1: overall
CAPITOL Sluaaaaaaer-side
TONIGHT 1- 0:15: SATURDAY 2:80 - 7: 9:15
Stekhl” RALPH MEEKERPM I . NANCY DAVIS JAMES WHITMORE JEAN HAGEN
-n--:n-::-
I smile IITII lilllllll
Vilitliili Billlti
; u-JWAIIMRHI -mi
iiviiirsioii - vriu -Illlllilill nittiiio liilillim
, H illlii IIIIIIEIIS
Today 3:30 - 7 - 9:20
Saturday. .. 22'.-to-7-9:20 -”WIlElI' TIIE REIISIIINS ROOE,"
With JOII-IN HALL -- In Color - AND
nor mtiyAivKzi '5'-EYNSANTI0: . ONROE
hCeN&HaMdRen1MealeaI I
010000069000
reduction in preraiuatratea relaeuaqae we have sale