y—— . m _ 964’ vlula 111000 :70 an no -1 teaser loo 3 as u - 15° G'1”‘“‘“v. chnhtuwwﬁl 3”’ 81’ 1 9 i Waaamac mo 1:: lot 124 -4 l e 700 240 no no -0 ion! Laud 4444000 14 V. lw. +1 P m “M 3 u ’ werarrl 7 7 7 l gurovn Gu .1010 141 170 100 l crmnn 141400 1.1! 112 130 +7 . M 4000 10 0 0 -14 as + ._ an 1 su. 11,4. 114.-1,4. nmo 2.4000 10 111 um ‘Ninth zoom :1 27 01 +1 . . 1 __- 0200 as 21 so +1.9 Paymat 2000 1: 11 12 -. cover 10940 is 17 17 ., lg sum too 125 1241 m 4.1 ‘Martin 1.54700 04 00 oz -2 , MONTREAL (CF) - P:-leap non nan mo mu my m‘ 1000 :1 21 21 -1 Pee Exp! 9000 10* llw.- Minn 4150 ms 405 400 -s lsouth U 22020 11' 11 -9| Teritory ‘lagoon 21 15% 19% +210 were steady to slightly hiya: gagwali I00 514% 14%‘ WA : :2 Mela Uran 1500 2/4 :6 1'25 :1‘/I Elliot 210 £1l% 1W4 ll'ro- Wiilzgl ‘ﬁlo 1: nit; panliiel 14:0): 7140/5 “M ii,“ ll ‘l‘Iael.li:Aa'a‘a¢l'l.:11:'l;:es| 1'l.E:lsml€l’llM:.ntrl‘ea|»I. “‘:ie.“°ck m_.r'

5 mp 053’ 136.0 061% t1_1u. 01V.- to twrlghi. am 44 451.4 401/. -M rerron 00 V . Winch 30000 141.4. lav. 131.4. .11,', Toclt Corp 2220 409 470 479 wellnurlny. Jan. 20. elo-ci . . 5 9° ~ "5 "*3 ‘‘’"_l¢' no THE CANADIAN PRESS 'l,,,l, -l-on ii’ "W H‘ ‘W ' , - 7150 so rlelr Crow 1020 49»: 49-5 494a’-V. Windfall 0500 40 as -1,, Trans Can 000 112 +1 Bid 4.11 “V9 Hilde? I I . . _ Town“) __ Mark“ mixed lo‘ M Am 22.0 :13 1: 1: l MONTREAL iCPi — Agrlcul-1 Murray M 350 110 110 111 -1 Placer 450 :29 29 29 —=r._‘ r Hart 5010 at so 00 +1 Triad 011 2670 100 107 130 +1 l All can Com 9.37 s.o9j Receipts: 1,785 cattle, 1,124 l

odenu ‘riding I M M kl: 2065 _s27% 23% 23%- lﬁiture departmenl quotations; Nama NV. 141/. 14% + ‘A Paw mm 1000 _ 44 — la: Yale Lea 41700 is 12% 15 +215 Union oil 425 I129’. 12». 12!/. 1 All can Div 737 I.oa ;calVes_ L090 no“ and 45 ‘nee’ lower. m .. 1 1“ Po e 2500 379% 70 7995+ 14 Egg‘. wholesale deal“ l.~ Nat Exp! 2700 iv. I Prcgion 040 no so-. 1105 -.1 11/1: Bar 5:1 111 111 111 +1 Unlrpher 433:: 31 31 :1 1 American Growth 9 10.49 nn ml“ 3' New York — Market lrregu-I ‘M In no :34 :4 s4 - x4 lo counll. l l- pm”. Nnlon 101/. 1011. 101.4 Purdx 13500 111/. mu. 1oI.<.—v. Younr H6 4100 0 n 01 X250“ 190 in 195 +7 ‘ Beaubran 35.0 30.72} . ‘ l mly nlghel-l “give tl-.¢lng_ l m:'“5'L 24.5 um 04 st - to t Y 5‘ ‘°“5» ‘"°°d°“ °3"' New Algot 1000 cu. - 40 175 175 125 zenm c s 1114 31 21 -1 wrutee 1100 700 also M5 -20; Canada Growth 5.44 5.991 Ch°‘°° “*9”. 31-50-35% 3006 il Momml _ a e mlxedl * L“: m 13050! luv. 10». 191/. + tel 115- EXlF8-l8!‘ze 41- 42: large Now Mi: as aw. :0 +4 one Alcoi 24100 9 0 0 Ana mayo 7000 10 17'/a 17-/.— 1.4. Waburne 2000 in on n -4 l Can an and Energy 7m 1... l21.50-22.35. medium 10.21.75 and . I ﬁve lmdln ' LON till. 14% 14%-Ml” medium 35; small 29; go Nu ma W; 5 W) Que chib 1450 18 10 - ‘ W Decalta 22.16 127 126 in -4 ‘ Canadian Investment 11.10 12.1! common 13.19. . G hflfer. Fairy 80 3 ‘W A 700 37'». 71,4. 71,4, 33 and 23 1 ex wt: 1 so 90 so -1 quntngnl 1250 15 13 Acme (..r 3500 12 0 11 4. wurhlre 000 :20 :15 11s -10 Cdn rnm 473 517 l85nl95ll - -——“-""':."-"#7 L°bi|W I (too 33 5 O I ll ' _ Goldy“. 750° .1,‘ 1 7 -1 gunman; 940 310% 10% ]()§"—|ﬁ Ap con. 530 ‘l ‘l ll ynn C”, 500 4 4 nlund “$9 47:97‘ ' ' ‘ ' medium 17 Ilsa» 0*“ M 225 323-14 234/. m¢_i,, " “r C"‘'"“‘ “"~‘°'P‘5 "°"' .- 4 0 0 +1 Radlore 4700 52 so 51 -2 minex 274 274 274 19 -5 w/.— 14 Champion Mu sl 029 5.91 ‘and C°l_"m0ll 1317- Good cowl grain 122., will ml In/l_ l_li¢l!)Ilde!'54:l:/lc 51; 93 score tender-1 Hosco 13050 200 an 200 +1 nulnn 376 1 531 -2 lAm 1.eaue 77004 59% 0 0 +1 114 :70!/. 69-. 701/. Collective Maui 517 5.o.o;15-50-15-00. [ned1llr_n 15 - 15.75, mm a 050 aim 179. 1 8 0 4. 92 score mndel-able‘ New Jsscal 1000 01/. 3% X71»: ‘A It.-yroclt 213 8’ 0, —l% or 1000 13 1: +1 c imp Bk C :54 534/. -- 1.11 Commonwealth inter 900 105: gcommon 12.10-14.13 and camera NEW YORK (AP) The ‘t . MM 0 Dr 765 311/, 11.,‘ ll“ 5 1/3, l N Kelm-0 12000 lll/a + e + n; U Dev 8600 :9 M :6 -1 Royal on 074% ‘I4 ‘Ml/4- VI Commonwealth Int Lavr I21 9.00 ‘and Cullen-S 5_l3‘5o_ . — ockl “' A saw. aw. am Cheese‘ Delivered M ml‘ 1 """“"‘ ”’°° " “ "““" “"‘ ' 5°“ “ ”’ " ‘“'"‘°" ‘°°° 7' "°"”°'“ “‘ “ ""' °°'P°"'°1""'°‘°' ""5 ‘W1 Good b ll 10 2050 arket put on a steady pel:for- l M°'S°" 3 90 92042 2044 2344- 1.4 ed ’ ‘ 0 “'i "0" MI 30750 1! ll 13 '1 Rio Alaom 1002 01244 12% 129/. .ey s r 100 new use 2395- Nous-r1uA1.s Divrsiiled inc A -so " 5 . ' ~ ‘"5 COM‘

1" Me Thursday resisting a . xonl Loco zoo 813% 11 ms iwax °""°"‘ lfecellits. Whole-3 N Senator 0200 :0 luv. 10% -1 Rap 6 9 + V. Bali 5-». pr 140 3251/. 297. 2544- as Alumlnl 5301/. son. so-A Diversified Inc 495 5.4. ymon and medium 11.75 - 17.75. "'3 d ll E ’lrad. l k ' °'” Trust 503100 10:1 10: In” Q"°b°" Wm‘? 35: colored‘ Nickel us 2072 191/. 19 19% + 1». Rlx Atbah 4000 7514. 251/. 2w.— ‘/1 i 5250 200 194 195 -5 c Brew 7630 010 974 074- ‘A oivlnena area as‘! 3_ss Good vealers 28-36, tops to 33.50.

fllrlh" 5° " “ ‘"3 55° ' "$00" Corp 300 ram 52., ,m_ M 35".. - Nick min 1000 as as 5 -I llockwln :1!/. 30 30 l c Ed 134 31014. 101/. 1014. D Magnes 100 $714. 71/. 7179- Dominion Compound 3.03 422 Medium 22_zl_50 common 104, - . .« It 227.": 2:: “ — “l 5”“ "“'“ spray in» ‘"333’: 9.. +' 921:; *7 *°°° .: .7 C .;°° ' 7 1:: :12. 1:. ~ .;':~::.‘°" and uiw

- 4 . . - - cmo e -3 41 . —— . .. . . '

hT'r‘;es‘:ay 1”” om‘ ﬁe‘ eg” Oﬂolvle 400 “S5 No' 1 m bags ‘H69 ""9? lczihuu 45 45 45 +1 Salem 45127 no 49 as 2.‘: Delhi 4900 4125 sis 615 -3 land 400 ‘ I mfum V 13.00 20143’ G’? d A 11025 26.50-25 and a a ved dll “mo” l l H :Pac etc 750 :12 1/. 1174- 1,‘ Process N0. in bags 13-14; l Nor 014! 77000 lav. 111/. lawn sand luv 1 5». I c Ex an 2200 12: 121 12: 2 1n syn 105 :55 541». 541,4.-1=,4.l' European cmwih 0.77 7.40 sows 17-l8_ Good lamb, 30 ‘mg show no p l 0 0 0W Past Her- :40 320% 20% 204/ g. 7°95 11-12; butter milk powder N°'Ir“° 5“ 1’ 1’ “ sheen Cr 2000 13¢ 110 11! +1 c 1.] Pete 500 15 15 Inv syn A 750 4531/. 521/. 5215- 94- lreil r ed Growth 517 5.55 isneen 4,-7.50

through in selling. Gains by an Sxvmiena 12.1 mu. 2w. zo-/1 1,; feed 9-9‘/4. l Norlex email) 3131/: 31]: 3}: -96 siierrltt 1:20 52196 __5 cent Del 5354 715 700 710 +9 lPemb|na ms 33?. 0-1;. 014 .' rat ollnno ca, 490 3.34 ’

°‘...*"“°., -n 9:» ::."/4 :2.” Wl°‘esa'e s°‘“"sl It 1° 2:22;: ... .. 22:277.. *9: 9* :2 1: :.:"l :23‘ :2“ :::::::::::‘.:.*. :1: ;;:..° Town «P» - mam fart ”‘°"933° 9 P ‘Thar Ella“ on Gas ",7... in ,."‘" “ '’“°°‘ 9“ "e“’ 755 159 7 1-55;~ Bordu soo 17 17 17 stamtt 1 5 _ + :7. ~-Pal 1 17 127 127 -1 wainwrite 500 no no 30 Fund: Cnllectii c 7.02 7.94 “Y3-“ Milve and‘ prices were RP‘ aV"”‘3°3- "9" “"9 3 i 9N n or 2.5 3l06|/ﬁ1t'l5l,§lwi,n _m Que new 505 1.00-1.10; N.B. newl N Coldstrm 02.9 00 no 00 --1 sleelo W: H‘2~ ‘4 Dome Peta loo alsv. 151/. is-/.-. v.1 Walker! 1017 :52 52 can Group III('_ 3_, ma firm to the week s advance on few more issues in the over-all: lo Phona 110 75s 1.55-1.60; N.B. new 50s 1.00.. N Goidcrf. 1000 ill 10 171 +3 steep 11 ml 440 .5‘ no Dynamic *6 14- V.‘ W!§t0n B 170 417-4 17». 1796+ '1. Growth Oil and «in 10.17 .571 Van ('Ia3,s‘eq§ and Er “la, 0; list declined than advanced. ; "'0 Altznm 700 01244 12% 1290- 105' N.B . lo _ , N Rank 01100 171/. 271.4. 27l/.—'/4 stumo 1000 9“: 1“ 1'“/5 so 700 2.90 :50 :50 —-—-— 3 Inveatorl Grow 7.41 8.05 slaunhm. nallll, al ll“ 0 "fl

fit t k‘ ‘ l"°“-"W9" 75 :42 “ ' "ii ‘ '25 -27' ock 4400 so :4 1:. sun cont loo 9 rr Peta pr :75 no 020 no -15 Total Ilieilt 4.290.000. veslorl lntl 4.77 mol . " ° Liam and. mmlmana 32 311% W5 :96: it PIEII new white 755 L85 ' 1'95: h“‘ 1”” 5 M ” “Hm,” 2500 11% 1’ iizia Grim,“ Q Mm" ‘CTN: mR°NT° “'‘’CK3 ‘ Irlveatora Mut. al 1342 1“59ipubh(. stdckyayds Thursday‘ ea!‘ I91‘ 3 One Royal Bank 017 4744/. 7..,_ n,/l _ n P.E.I. new White 509 1.25 - 1.30; Korth Cm 500 I67 105 1&5 -8 Territory 150000 11 15 7 l~ H15 11 on a 1277 mu. 1594 15% -- vi. By The c--mu-n rm: Acozlmnlatlnl 4.19 4_ss calf prices were steady. was mixe , l SIL Cor A p 30 3100543 loll” lolly. P.E.~I. new white 103 _33__35_ 10377 515 4!) 495 +5 Tomblll 4600 104 93 7 Land . 450 440 450 +25| Slack Sales lllgh Low Hal‘ Ch'|l Mutual Inn) 5.72 ti.’.’5i tC(m|mued on page 15, The Dow Jones industrial av-i gzgdlcfn 4;?’ $1134 111/. 11./,_. .,4. “L om“ 1; L; i: "VI "°° ‘f. H, “,7 10:: PM!" in 4111575 lln1,‘r‘I— l Tr C“ PL 'l'l'2';2"5;'_l'5"A‘fm 3. , Arrllvelllilvl-'7‘: Mr;-ln-M M;——————-—- eraze F058 -34 i0 733~44- _ = _ ell’ ll, W m 2;‘ "75 ”''/- + "6 three cents to 31 cents. 'l‘errl- O'Brien 4200 so .17 :71 -1 7 ll“: 7 =‘«''2 1": Midcnn 29 33% 21114. -1 Wood .1 A 996.1 9127/. 12 1244- M provident has 5.72 $9 R()\’/\| s‘.|4‘(j[]R]1'[Eg 4m°"S _ C,3“3d ' 3 " 1531193. Shop Save mo mu, “.4 ".4. I-Dry 2'/2 cents to 19% cent; “.4 0'Leary 754170 101». 14-. lo +115 Tribal: 4200 140 117 1m +4 l ‘at pm 2144 21» -1 Farm Brow min 010 97/. 9 - to putnnin Growth 1194 or ,2 ‘ ‘ ‘ traded Dlstliiers Se 71 gra mal siinpionr lsoo 039.1. 991,; 39% . 3 Consolidated Rambler six cenia Opeminkl :75 trio Mo 04.9 +3 Tn Chllv 750 13 H ~l N Loncn 000 st. 314- u. Phinn -rm ms 01.. M ~ dlaaon 4.72 5.19 «.5 Corporation Limited gained iii. and Aluminium Ltd._ 1 Southern 1 2994 2945- 14 to $2.25. . Orcl-an 3500 415 am 400 — un numd moo 19 7'7 ~ l nnyler 250010-4. 19 14. Int Nickel mo :70:/. 791/. 701.1 4. V4 n...... ma 6.50 I sln,.;‘.§ nnd Bond! - ' eel C 01: d 1000 11 ii ii +1 Un Kenn lifﬂ 550 VI‘? ‘M silt Np ml; goo 925 ml! ll 1'5 i“l9 '5

Calladllﬂ P3’-"W3 and Ptlmel slnlnb. "' mg, "3"" '3“ 33“ Dome Petroleum slipped 1/. Oirrrfhyl ‘H00 45 44 44 -1 Un Mn.-he 7200 27 .15 .1 won pr rs: £4314. 411. 4314 Url ml; lama 199 1114 19x 47 ‘ snlng, l,,i,';vnm,,,,, 55,, 9],. I, ALEX M. WILSON

“mes 1?‘ .°" Bay M"""g- l Tor-Dom ‘ gzrmgm _ l. 33101114? senior western oils ' °'l’'“‘ “*0 39 tau. :0 +1 11 ran 400 10 10 is Niimar looo lss 17.4 no i Am Léilur 73034 MW. 11 0 41 cc. un Cda in a.12 7 Manager ' lnlemanonal Nlcllel and walker T Fm A W m W‘ ‘W: 4 Unlled oils lad speculallve om" Pamour 1417 112 110 112 Urban 0 lion 1- 1: Numar wta sin 74 74 74 -1 1: Dragon soils 491.4 45 es -1‘. rv mctronics 77. 14.4. (£137 (iraiton st, ma] 4.3533 nnnderham fell 1/4. Tr c Corp log 39., 9% 9% l n grading lzullls shares for . “lull Paramaq 12 12 12 - ti lllauu 1:13: 3 as .14 Palliaer son sou. sou. 1 Acme cu 35000 12 0 11 +3 'imd lnvestment_ ‘ 5,45 7_0iI (,« cllal-lnllelown

Prices on the Amerlcan Ex_ _1r:: b(;l1n,l’1i‘. 3.110 835 3-1% 34"/a— iii of seven cents to $1. Plum 3” M M M A-20' up" 000 W '- WW9 5“ “M 5° *‘ WWW 24000 19 1! M —--7/2 United Accumulluvl H 5.95 7.60 (

change moved generally’ lowely; V," 11:22‘ 1‘ ronon cwsmo irocu

(‘anadlan stocks were quiet with’ WCoaIt. 1-; mix, ml, l-M ,l. 3’ 7 ‘5'n'di-n Pu

Canadian Marconi losing ‘/11 and Weston A 1100 816% I616 161/. - :4 7- °'‘;'''‘' M,","l','lll".5l'°""""""' "' .

Jupiter Corp. ‘/4. Scurry Rain- A. “‘"“'“h\' transactlnna. ouotiiiogr‘ lndcent nimv

how Oil gained l",'l‘,_;‘l 1;?‘ I 5 la ma ea . -ma lot. xd Ekdajvr .33

What SIOCRS did: l nmn lam mu. 9 “Int!” xr-Emrllhtl. xw -— Ex.\vI|-r-nu. N" Thur Wed ’An Am .4... so :00 205 _ ,,‘,“,,',‘; ‘; "° vmlow ho-rd-I-n

Advances 95 339 u° 0 +1 '- W «

Declines 511 727 Aug'u'm:" l“'“°° 15515 W’ -'30 Block a-1.. High 1.owcleuch're -

Unchanged B em“ 0 as O — in umas TO: Your Directors abhor the fact that the cause such al _ If You will examine the Balance Sheet of bhe Company you

rlwnlnl lunch 13“ Elk Hawk 5500 M .5 + ztnvlocuie 7379 355 5.5 W .5 large percentage of the losses was not known to the insured. lwill see that the book value of the Bonds exceeds the actual luau YORK cm no .100 B _« . .‘'° °_‘’ 5' 53 —-1 . . . , . _ _ . . , anarket va‘ue of the Bonds. in our opinion this doe. not cause a Aasoclbatld lire K‘ 0: B 2: i""°..li’"§'i3 no I150 ﬁilanmo 50'” 5' 5’ "“ 50"” p°’5°“5 Sm‘ 1’°"5‘9‘ "' hghmng 91195 in their ~"°°"°5 any cool ‘ ' because in the forsecable future your Directors

R1-ill oi... 1.4. Monty w we aluwlr Pm" 1300 31 10 I0 I with glasoline or kerosene which is a very bad practise. ' < ’

3“ Wm" “ll C SM mm" rm ,7 n 1, _’ acon om as as as 1 do not see any reason which would require us to sell these

Radio Corp loan Burnt mu _, Allzlﬁwn ‘loco 14 171.4 1.414 - The percentage of the security rose,-‘.9 of llle lnsln.nnce.Bond8.

“W “"°' ‘“"' ‘°“‘'‘ F‘ ‘ "’ ml» in no 120 + "°° "" “"‘ W’ * 'liabilit has been stable and is a noximatel 94 of 17 Th‘ I -

aoodyur 4174. Utd Aircraft 4114. c nredxo 1 2.95 no —6 Am ""0 130 Ill 9 -1 = . V , W’ 3’ ' . "’~ 15. some time ago Mr. George M. Grant of Charlotte-town Gt Nor By aov.“v:vn I la; c In 00 39° 3” A30: Cup 3000 I31‘-;i‘/51;:/I113‘/A +1 Your Directors wish to submit hhe Twenty-Third FinancEal ﬁgure has not Varied ‘O “W °’“°“‘ for some mm lag pasmpassed away 7

:1‘ 1' 56 ernuu l C Security A 200 115 115 115 ~., R 00 , ' statement of the Amalgamated Companies for the year ending’ . . . 1 ' . - y, al _ -: A... . - . _i . ' _ - c:",:l::d" 12% 1,‘: will 1"’ "mm 2000 554 5-2 in 1'6 December (list, 1963. -nn.u,m“:.:$:5emwﬁfdrﬁulgigeﬁfogf iillliriirgztgalgfllell Ac.”n:e°u;,0Tc'3I Mr. Grant faithfully served the residents of a portion of clmmaloy lo 5,, 46 ,5 ml Mr 200 3435 + l l ' l_( ' Y _ Uh ld est _ l’ ’ la] . ., ' _ “Queens and Kings Counties as agent for approximately Twenuy- 3”’ Cl?’ ‘m 1:94 :'s 3 M :::":‘n':‘ 133° Ila’ 1151 11 1 Prince Eeciltvaigrislzomahnéliiiﬁlritlgigiinwiiliiilai Ogife Ggﬂrlgariiycaiaer in ziilgllegntmcaongiflodnalmlal mcumstames M the ﬁve years. He was very highly respected an a very satisr "’“'”' Barnat -in — ' 1‘ , , _ ‘ ‘ factory agent. leveland 2000 4 4 4 -Vi id be ' Lilo 11d SI‘ '-F e ears th rig al .. , . . .; MONTREAL (CP)—'l‘he stock l Com°d°'€ 50° 45° “° "0 3:519. Mm 3% Ii“ 0% M + V’ pal-1IlyC€w:ii);l(l11W"aFd Ilsliariiiaeiiilautullil aFiIVe l1)1(st:i1ra111‘ce éompanyeivguldlnbe “ms 593'!‘ iJhe' expense percentage of me Income ,5 13.7 Pgri Y D‘ . 1 . . ,

market was down fraciionally , C Cnnoram 500 57 57 37' an“ 5600 21 19 0 . . cent compared Wllh 13,1 per cent last year and 12.9 per cent 111. 0"’ ‘V9910’! _““9‘ {that "9 C“”‘9"t 3931' “ill be 8 5"‘?- Thursday on the Montreal and Mtogadot “:5 33 3° ” .Belci1er 1100 M 331. gala :12»; w operation. 1961- i°°55‘"‘P Via’. “id Wm .agam d°".‘°“s”.at° the bend“ ‘)1’ '1” °'’' Canadian Exchanges. ,,,,",‘:§ raw ml, 23, ,,n ,n 1‘ “ B°“°”‘ 95°“ 35* ‘*4 35 If you will examine the Financial Statement. as cortiiletl . . . . ‘;°p°”t“'° p"‘”°"p" wh'°h "'"de”'”°‘ “'9 'y5t“m °l Mum‘ 1”‘

The composite index dropped l nenrult los sum 101/. ml B6110" 72lf|“6'Il]tl 71154 I by the Audnms you wlll we llllal our net nremlum lnmme was _ l'_1lll1~1s year tile cmnnlllesisltxl pelricgntazze of lhla silremimn 1t1cmne.sl,,-nn¢,_

0.1 to 132.9 and declines oulnum-1. " *’“'°'" '00" 1° 2° 0 HM; .... mm 25 24 2.5 _ $24o65:l.:l5 for tile year ending December 31st.. 195:1 1111. is an '5 °' ”°' °‘’“ °°’""“ ' 9°’ °"“ 3 3”“ . . ..

bﬂed advance, 32 ln 57 lg lama“ 15:7» 3:. 12:. 1:4. 6; nldm, W" M lnm-case 07 3‘V"'°xdmamy $l9'0o0'm when it 1‘ minpmm with Again WP would like to mm nu‘ ma‘ " has Fliwavs been . Respectfully submitted this T\l'Pnl.\'-ElE'.i1iil day of Januarv

Trading was active. llndus- Dumm MM 50 3‘ ~30 +2 Bltéllngay 1.2:; Alva ‘ll 411'». 1 ‘A me 1952 income. and sill] is the aim of your Directors to keep the raoiolbetweeﬁi A‘ D’ 1964' ‘ t ’l t ed ove 169,800 s ares- E... _ . '- ll --5 .‘ I l. - ' . ‘ _

Arlifalis Iiiilillel and oils 877.l00i Equity V23“ wflitimlfxf ‘is 13: -f B;:',',l“,""‘ 15°", .,2l;"" 5:: 7:; "lg" Our total insulrance carlried amounts to 964.195 7:I.t).()tI which mil ulsurancfe callrlledl and the. M582"; ll" astgmd }:a“‘h'y slate 533550“ M3CCALLLM- ahare 'F"’ ‘°°°° “"5 "' 15”‘ Buff A 900 an no :5‘ D an imrease cl approximately s400o,00o.oo over last year. 350 Orm 9 8 ' me e We W95‘ 9 m“""'m Joan Mu-introsn 33"“ “'9” °‘' 0-5 " 1247- ll-r‘i~"c'il pr 132:omg,W’;, ""’* V‘ Cable 0 4 0 + V. our insurance coverage ccntiriues bo increase every year rate’ ' Imperial Bank of Commerce ‘ Font-on mo xv. an su.- 1. °""""“ 5 ‘° ""'iso also do our assets. It has alwayr been the poliov of vour Directors in keep the 7' L‘ ””'“'E"“' d1‘0PPed, 75- M°_"“‘93' :5‘. 3“d i :‘ *‘‘’“’'“’~‘‘ ‘°°° 3’ 33 32 giimrmchb 103? 3:: :2: W +7 . . . . expenses at a minimum having regain‘! to the services rendered Committee on Behalf of Direclorl. Royal l.l_ canndlenne Natlona]‘;1F:iXRi”nr‘ lg -1 Tu"; 7 50 lo ,9 ml _, A.pprox1vma.tel_\v 66 penzctglth of ihek net plvmlum mcnlne IS ale rose ‘.2. Proviuciale on an Fmumy mo N ‘M W __M c .4.rio a limo 7 cu. 7 derived from farming a an inn ris 5. NOV! Scotil 4- iGhlalau 32500 72 on 71' ‘+1 C ‘"’"" ”"°° 1’ 1”“ Utilities were off 0.3 at 123.8. G Autotmn 700 34.1 :40 no C ‘£2 1:; 1"’ "" "l The M‘ 1"“-’1‘9~9‘ im°"“° W53 934.33"-31. . 1““"“‘°"‘"°“‘ P‘P°““° d"°""“‘ I °"" ""“' W” "" "“ ‘°" ”' Cd" NW 4 :14: Th net 1 which we l1icu1'1'ed'amounvted to sis": 037 so ‘ one dollar and Calgary Power l G“' P" "" -W’ ‘3 ‘-3 '5' -4 4*. slur. 300 100 100 100 -2 . 9 miss ‘ - ‘ ’ ' ... . ...». 9. it :2: :::«~.:.. :7 ii :i ‘:7 " a°°W~'y W as PRINCE EDWARD lstlluo Mulull. FIRE INSURANCE COMPANY was up We. llnfer Droog 7500 1311. 13 1:17 1 In ¢§ml,',. 1,. 3,“. W. W _ ,; year the losses were anp11nximat.i=l_v 68.1 per cent of the , _ ..’.’2"°': .:l:r:.:*.:. ,.;s . -lit: o o 3;. .222: in ml‘ .‘“;.‘.°’:..”f'$“ii’.:‘i °‘“"‘=“““" °F “WE AN” E“’E““S -- ... 1 ncrli Pet 900 1:0 120 -10 - .- 1- l - - ‘ peauglfgpped 15‘ All::'db‘1;’§l° "5' Koriltilil 1500 s «A §,{',;"‘,'{_", ,,,:l‘,°° ' ° ' excess of receipts over expenditures mounting to $37,782.11. 1‘01' “W 3'95!‘ Gilded D¢¢¢mb¢l' 315‘-i 1953 ' es were In - - Llduborn 1000 105 102 ion -0 cm, M M « l . '.::“':..:.°':..:*..-...‘i:""i.°*°:..‘:‘.*::.: W...» 2 2:». - :7. 2:. 1" 1. .-...£’..:'.::.*. ':.:.°":i::"....'“°°:'.;:..’:.°:;‘ :.":.":;;.“:.; °’-i.£““.:';l:.i.."‘.‘.' Mm °~m~°;~ -14 “":;.‘°“”' ' urtrh Cm: 1000 17 17 17 -1 " _ -_ v - - v - Net Premiums .l . . . . . . . . . 3 2Atlﬁ53_.'l6 B011 5. at cost tappro mate dloplged 96 and D°m1“‘°“ 1'9"‘ l McAdam 0.500 _44 47 43 +1 ﬁ‘;{,'};’l_’f,‘ ‘$333 3''‘ 3, ” 3 Income from mercantile risks and lnC°W}°_fI‘°m insurance on Net Interest .................... .. 24,330.31 market value $294,417.50) . . . . .. 321.1546: . “ in génlor base melals Falmm ’ m:{"i‘nY:y *4 ‘:57 ii; Con Key 15500 12 111.9 111/. -—’|/x dW°'“"‘g5 “"“°h "S3 "03 °°“5'd9‘f°d “U” “5k’- 5°h°°i5- °h”1"‘h95- Net Office Rcmals . . . . . . . . . . . . .. 225.01 Mortgages and other seucuriiies .. 219,925.59 l bridge ms. ,5 and lmemallonal mll.l,,,., ,, ,7 7 °°"elS::':" 3; 3:52 1: 93'" I "“\‘’°9'“‘‘“‘°°‘'3 “*5 Profit on disposal of Investments 7.30 3 $5,215.98 Accrued interest on securities 1,171.34 $ 5149.505 l Nickel ‘Ks. Consolidated Mines l mu’ elm" mo“"?_’ *3!” 3’: +‘ c Caillnan 3500 7 7 7 The average Dencentange of the security’ reserve of the in- 1-'“-’ . and Smelters. Hudson 38)’ Mimi Midopsa 1600 193 192 195 +1 ‘°° 7” 1°’ ‘"3 1°‘ aulrance liability for the last twenty-four years ' .98 . This ExpENSES Real Eda“, nt can lea d,_ i ‘N! and N°1'3“d3 d‘'°PP°d 5‘ ‘ M""°"¢° '“’° ‘° " °‘ (‘on e('illlies 5.30.3 1: 1:1 1: yea" W” 5°°‘"‘m°3 equal 94%‘ The Wemge Tamged {mm 3 A ems‘ Commissions $ 3639412 preciataion 124203! I each. M°nPr= l°°°° ‘° 3*‘ §""— *5 .111 7003 I9 1. 1. -1». low in 1940 of 0% to a high of 1.05% in 1949, so that there is a Li.‘ Inc ,, """""" “ l‘53’l',;‘,,7'3., " """"" """ " _ ' ' i * In food and beverage Issue! 1 §.“,Tf"{.‘., '§’?f,’ 33 1;’, ill’, .10 C Mama 2672 139 m In +I decrease between the higlh and this year of .1170, not 117.. but I ;°‘ll ll ml, """" " ',l.,l'-ll, , mm; ogilvla dropped ‘/4, Salada l N;m“n M, l, 1, 1, H gmou moo so so so + 11%. A“d"°l°.‘l’ ll E ~~~~~~~ -~ “M3,; - ' Foods, Canadian Breweries andi N lrorrnu 1000 4 4 4 ' C an r mo :3 m M -1 — m '1'.‘ T.’ W ""’°'.“°.‘ ‘ ' ' ' ' ‘ ' ‘ " ' ' ' ' [l]A5[Ln'[E_q ... - - -, ~ - D -t1 B mid d 0(- Westolla A ‘is each. Labatts rose zavl-iAcrl'1“““ “mg 4: 0: I: I can Nlnml mo lo M M _l The following is a summary of the financial standing of tins ‘;‘1P;°°'§q$‘pm°:nt ‘I me Ill 1 W qe $ M 4:” W Agents Awmnn. _ _ . I . _ _ _ _ ‘ _ . ‘ _ _ H n nu” “A ih 11 91.11 on rose:N°"‘"' W 6% 6 6 ~ "= c 1?.‘Ii'"’i5Z.’» '23-’.? ‘ii’ 11. ii *‘ fog”? 1333” the Thwhm M D°°°""’" 1943' 1948‘ 19”" ’ """"""""" .-_'._..‘;_ Provision to: unpaid loss claim-s 15,700.50: 10,570.17 r mung e 0 s . e . M R8,, ,,,.,.,3., 2.. on ,. .. C 1 1 an . , , , ,, _______ $4 and B.A. Oil '76. Pacific Pe- ‘ N uh Exp 3300 loo ms loo -1 l (_ #0500 1'3‘ 12 l SbRPLUS EOR THF. XEAR . . . . . . . . . . . . . . .. S 37.78211 NFT ASSETS I ‘ ;_' " ' - )3 N -3 : ' S‘ 2 .. . ' "‘;1,°“';,‘,.§:,',‘,,;‘- m..,,, ..g.,,,,...... 32$. :3 .11" 31.: “ =<:,n,,-,7“ 3,33 «>1 «» «» '°“' "iE.'.'I.‘.'.‘.'i“ '".‘.°.f.‘2.... '.°Z?.i’ '"§~"..'.".'.‘.°° "' ”°‘ “”°‘“ BALANCE SHEET Balm. Decembar 91. ma WW4-W . . ‘ ' I6 is “"‘ ° 9 9 ' - Add‘ Surplus for the year .. 37,782.11

fell 9.. Aluminium rose -... lgmlslf-:4»! 7;?) .15; M5 .50 ml i...._.-... 1000 16 ii 1. _, 1943 9 52,374_96 $6,113.12 $17,909.54 $14.s72,o0o.oo $191,974.32 as at December 31st, 1963. - -

in trade and finance Domln- l l... gum nw, ,, , , __,, , (tr _1cI1! 3200 79 70 70 -4 1940 39,205.15 .764.67 47,118.98 ?.=».391.233.0(l 277,897.01

1 ‘ ‘ . - __ . ’ . . ‘. . I 605937.08 l,,,, 3,0,9, Wm on 1... .p,......,.. 7 an ax. 1. cr:'=l':m M23,“ “"4 W WW4 1950 124,030.06 9,467.42 51.29991 34i.l09,s42m 271,343.00 4“‘'‘''‘‘‘ _ - » - P Rlvr ms :'>IS 490 515 l.. , S I "_ '1 12 — 5-5932 4; 937 W, 33 -on _»l-M-,,l (‘arh on -hand and in bank .. .. 3 35,579.73 ))e4i1l4-1: NM investment in Office ,

In machmery CIAIE. “med 933'“ 7-” lm ‘ 3: 2" ll losiiioo M 1383 -,9 5:l"l95' 7mm 2-05 (:67 03 Notes r ec ei v ll b le for cash Equipment ............... 3 1.33618 3 Fllkwi-30 9.

. _ Pm . . . . . . . .. . ,. . ,

ln speculallve Mules 0nemal_ 1 “mo 9 7.,’ 9 H uscn 71 14 14 _ l . premiums , . . . . . . . . . . . . . . . .. 3,912.71 .. loy rose 11:5 cents, Transterlle Eizcrlgflﬁtih 00;: :7. lg ll]: -1 $020068 an Th-e ﬂt)1i;<;;Vi'l|¢ h an analysis of the losses which we paid for Agents’ Account: . . 44.68 8 39,537.!!! I M11341 and Opemlska ten cents eat: . I 3 _, Do Cour losoo av. M 094.4-11.5 3'9" ‘ Jubilee and Blue Bonnets five a:”’c5um mo "0 1“ ln, Deer llorn so Rnﬂl Dwelllng, Q 65 899.38 9; cents each and G lslau one 5.1, my Ldl 300 90 00 D91"! PM W4 1° 1° -1 . . ' ' .

cent. Kodiak Petroleum dropped Siher Re: 15*” '2 2,25 :3 119214 siiv. ii!/. + 96 Rural outbmdmg‘ . 40mg.”

ten cents and Augusta two ﬁlm “ll.” ‘"03 ,6 . .0 nick... ms 530 5,5 5,5 _, Stock & Orop .... .. . . . 16.08500

cen . 1.». gm. Mia 14% "'9 465 2094 29 -so '1‘ . . . . . . . . . . .. . . .. 15.000110

MONTREAI. cl.osmr. mwns mo 10 1 Donald: 8000 all. 0 ll/a-Va nnndlnn pl». snuﬁun ‘5 +3 Ell! M 2300 195 195 +5 asooaaaoaaooooloooaooIuvoutl-not 3.361_53 ys """' 5"“ E“"""""' "' " Pmmlihil 7600 110 100 1011 -1 Fl!‘ 5"‘ W 17‘ ‘ 775 +’ Fire entl 2,000.00 complete tahu of Tllursdly 5ll‘l"‘ F 150010: 1011 loo Sol 14.-_.oo 7 six. 7 +1 _

:::;::“:” °"°.:"l':£',.:l"__l°.;°,.'f.‘l'l,,l':l",',:,',, s|:l‘iIvI.n :33: ‘W’ “ L‘, H 1352.0 ‘M 1: H I Madmmv " ]':(;3g2 We have audited the records of the Prince Edward Island Mutual I-‘ire Insllrzmce Compally for N10 year ended xr--Exrlzm. xw — MW-rr-um $"§’"“" '00 1 lo 11 +1 Gem Mlnu 125 am 33% we Um“ °““’““ ‘"9’ ' 5375. December 31, loss. and velnirierl the cash and bank baiamces and securities.

change is from previous board-lm rb’ “mpl 1000 WI 5,“ 5% max 1200 11 ii ii 4.1 Furnifmre & 0i.0§hi'l|ﬂ .... . . . .. - ll

"'°" " ‘I'll: 500 2255 3"'n."§«'1$' 120.0 tii 06 ii -4 Bank As all insurance in on the premium note plan_ a reserve for unearned poelniums. as described in Section 69 ll

staea am, High Low clue own m‘l3"':"" low“ Q 22:‘: no + gtnllulll;-n I940 13% 1:11. W. + 9. gnu (4) of the Inliurance Act. is not. required to be segregated from the GomP«IIw'I INIGM1 1’°-'l9!'\’¢- '3 Aolulrl no 0139. H + to W 235 235 :15 +21 I I ',

Al 94 4591.. am 14- -*4 ’“"°“°' 74 01¢"! 30 N -8 llractors . - .- 273-01 We have examined the reserve for unpaid claims. and ‘in our opinion. It in adequate.

Alumni: 0454 130% so 3°'*+ "' U ..°'}§"i'l‘3...l"‘i’§’°»€i :7 70 70 -10 gl’I'"";l' H”: ml‘/4 15"‘ ""4 otel .. .................... 275.00 .

Ml"! "3 :3 ""' V,,,..,.r¢ 11000 7 st. 7 41% llzzmrlnv it-0° 132;‘: ‘Q? _5 scmoiq . . . . . . . . . . . . . . . . . . . .. 273.39 We have verified the balance owlmz by policy-holde-1's on note: far cull prernlilms.

A" C W W no 0 r M ‘V W. 7 + _. . . . . . ....... ..

nah-1 lass 21 21 :: ‘°"‘ 5"“ ,,,_| "Hm mm. g:'l:n" "“‘:“l‘; 7: ""‘ 7:“ “, §[3’°'‘“'’‘°,r§‘.‘l‘]’gr'''' After deducting the net Investment in office equipment. as shown above. the Balance Shoot done not include as

3:: :50“ 3:‘ "°'/‘,:m.,;3.,l”‘. aI1l.°‘:|lls..I'l7.7'.i0fll.nGu'M.' . i n_:_""_" 1°°°° ii? “ mnk 10800 assets items p¢"\h1'b4'ted by the Insurance Act from berlnc shown in the annual statements required on be filed therellnder.

"M l + . . . . . . . . . . .

:3: I? ,2 *1‘ W‘ " 5‘ nn‘:‘(::,'.', lm "7 "l; “7 1' Adjustgnents 4.68616 By vvirtue of Section 02 Ill (st of the Incorne Tax Act, it has been determined bhat the Company is not liable for :,‘:',nPl. m “of!” W” "M Hill 4 5'6 5 and the balance is miscellanlemls. income taxes, since more than 50% of its premium income was in respect of the insurance of farmlmz and fishing risks.

aeli Phone 1011 0 441. 50- W’: + '4 . """ M‘ "5" ’"’, following is on analysis of the causes of losses: ‘ _ . , _ _ .

30".," gm cw. .- It RONTO l(.n)__.l.lle llncll gﬂlélﬂlfl‘ 3.9‘: ma-‘ :2 3 74_533.;[l bubjoct to the foregoing cnmmcnts. in our oplmnn, and According to Mic best of our mfol'm.'1t1nn and the explana.

In‘. M :35 ﬂsoonozfli + *5 lilifliet had an erratic day. 11: Pa 11 ii Faulty ll-ln. _ _. _ __ 13 tions given us, the foregoing Balance Sheet sets forth fairly tihe into state (If affairs of the Prince F.dward Island Mutual nmﬁ ,. 00 l .'l'I,w.._ up then down asnln 8' §}l{“';Mﬁl*_ 3;} ,,’§'’',,’,,‘ ,,’2‘’‘* " ushonlna 111272.39 Fire illallrance Conipany as at December 31, 1903. All transactions of the comvarw that have come within our notice

P017 2: 02114 2144. — 6 volume sill,-ped wllthgut the mm C” as Faulty wiring 10 65798 have been wlnnn lu Nwm cu cu“ l 0‘ usual nnecua ye gc- 315 no no. . . . . . . . . . ........................... . . dry mi 2934- IA back us write 1 17 is caught {mm an”. Fl]-Q 763100 cl, l ",4 C.“ M.“ an 32 2 uvlty_ I ' - .-......n............... i . gr-0, ‘own. I c L «or lg 90; 3" ""13 At the olos:i3‘‘lnct|I:Isl|‘;!)i‘8 5306-38 Prince Edward island 11. R. now and company . 1 ‘ *' 3-078.00 4 1964 Ch t ed A t to

er; as not M our dill! 35 “’ lsz 15 nnll, January 1 , ar .91‘ ccnun an

co Brew 4125 :10 W4 °l*- “change ind“ -39 ‘° ‘ ‘ 1028.00

Cdn am pp’ 25 000-4. 20'»: -'0'“ western oils .54 to 82.94. Basel mm‘)

C Chain in 1000 500 “° metals gained .34 to 61.44 and; J“ - -

CllII)lKCI1.'i’N'/«V181!/1-“ 1d 82m 134,3. 2.20000

C11. 100 815% low‘. low lZ0 5 - ' .

cl 1- 101; "'l Volume hfor he pggd “:l:l'll 2'15"“

ct our or 41 . 4290000 s ares com ~ 1_532_59

C llarcunl ad 60 4 ‘ ' ‘om Wednesday, 17

...,” ..,':'..*.*. .... ....-‘:.‘~‘i.’2'..i.. .... ...... ... ml K W ‘lg n I-3:; INSURANCE AGENTS DIRECTORS

‘ . u .

C.’ W. gllaimm H losers on talaenlnﬁuitglgl iblollhel I N 3&0 M,‘ n "M l égllllty Fl;‘l|'t&(;9 or Shiv; ............. mas _

ggincoll as 0% 1:3 ll: _ V_ :{§§§,..‘,f,',‘.T"“.,,.,,..n.1 B nit lot’ "" ff," ' 3 “"3" “M in at " """""" Errol Stetson. 0‘1.eary Gregor Mai-(‘.allum. Brackley Beach. President CW5“ '_ R0 al and Toron o-I Latin Am 1500 °"“"“"°d - _ _ _ _ '

W ‘:1’. "2 "',.,,., £3 -3 ,°,3'.I,‘iI.‘f.,'.f°'.11 fill it. and Mont-l ullslluﬂ llm M 1l17Mz1mH “ ‘$211: Sydney B. Birch. Birch Hlii. Nortlillm R. R. John Macintosh. Tlgnlsh Vice-President,

in 06% 1/. ‘ ' no 200 4- - . - v cm A um 1:;/l-l*_l"' xnnoiig selected issues. In. L01-cl?‘ mm W. 1’ N - “ 33431 Alice (vfliialll. Wellington T. Leland Linkletter, Summerslde. ‘'°‘’ ‘W’ " 1/ ierprovlncial Pipe Line was off Lyndhsl I 332,” , _ Secretary-Treasurer Dial nu '°' """" 1715+ '4 M re Corporation and CIL Ilacasu 47 an an - Vernon (ralg, Bedeque n I ma aim IN W *- °° l l Faun. Iacdoll 1000 14 151.4. 1w.—1 zllsllll E - l ,lh C ll ,. . . .

l, gp am so I0 - as each and Domnon ‘mm m N M in no :0“ er rapau

M.“ ,, ,.-, ... 4444 an” ml snnl 1/‘, ‘mm M, . . . _ “ 31590 Clifford blmpson. Stanley Bridge _ l

19 mass 190 mu mi mu I‘: cmada Packers 3 advancodl unneut 11 01100 M I44. WI 190-" Albert Llnkletter. Llnkletier Road

D IMHO ill 3"“ "’ " " ‘ Bur 1'0 1' 1‘ 1' * ‘4 ' M. R. Machean North Wiltshire

no-Hm normal‘! 1" 'b|'dM‘°"" ' nalunohmslzv-.10 1: 10 1: 100.00 ’

nn 1.”, ... .. mi 9144-“ Deaison waa ahead 56'! l,,:,..,., nsoo M WA WI (‘hessel Annear, Montague

poem in am I7 W International Nickel V4 among "um, 0:00 14 II is -1 159-75 Alexander J. Robertrmn, lll Grllﬂon Street. . . .

"n,,_l""n f‘. :3“... 3?. 3121': senior metals. Lake“ Dufaul;l mg.-chant 1100 I‘: la: 5 —; mom Cnarlollelmm .l. R. hdwin Reid. Rollo Bay

I . amon M 11 SW30 7‘

"“°' 7' m 3 u 4': F“ N” 1-10 an“ ‘O “ ‘ "::?'.''‘' “W ” " M ”‘ " 97'0" . . . Ralph Jollnaiono, Loni! Riser

'9'” " " "' " u-is ' 9 most ac- ' I-'“" ‘-“"" “ " " *' rk lmm Adjoining Building ..... .. 05.00 James I. Machay, lil lirafton btreei.

men use In CW4 ulf head was til Malaria 1000 I 0 0 -1 , l.

"" "' "' m" M ‘.3: + is live Ipeculatlve issue. thud ﬂaugml no 01: us. 1174- n and the balance in mlscdlaneoua. (‘.l1arloti.etow11 E. Vi. Johnatone, Burlington .

'o'r.""r..i. '3.'t'o"'«'a4‘4‘nt-. onecenttolswceuuotlomon mm. 13:9; 4:_.

. la rose Ioxon —-_ 5,“ .,,.,.i¢-1ltilanuo.00o0haresN ‘ll

..ﬁ \. "2