. PAGE T

Mutual Liaf 0 ~ aha Clos

V and; Beneficiaries Since 1869

ties-Laos; "“

WATEB-‘T-m- ‘IN- RM 7- 1°35- meeting tho financial dimcurties of

3* l i WNW wW¢ii'..P!°il~-6Il M‘ recent veers and it is interesting to :0 ,3 _ 51°41 I41 ""9199" "-9- 01 note irom the largel increased re- , . 300w tor the past sixty-rive you'll payment of there‘ cans received , " W" W1 W Vi" WUWIIWQ-‘i-s during the past year, that the value

12 p “n

Wot The Mutual Lire oi Canada at “the Annual meeting neio nere tu- It was pointed out Preaidiegt. Mr.

ozi thLriorm of credit is greatly ap- preciated, and is being restored as rapidly as possible. The demand for new also ‘QIOWH n. mar during the past year in harmony vzith the lessening oi the financial s m . The interest oi the policyholder and his beneficiaries, requires that loans on his policy should be cifect- ed only in an emer cy, and 1 am therefore glad to o serve the tend- ency to repay such loans. Adjustments involving financial losses in inunici l, indu; rial and mortgage inres merits have not been few. but there has been no hesitation. on the part of the Life Companies in facing these situa- tions courageously, reasonably d iairly, and it is gratifying able to report that the experience oi the year just closed reveals a steady improvement. The mortgage situation has strengthened materi- ally. Many industrial enterprises are steadily working themselves out of diiiicult positions and most oi the embarrassed municipalities are 1y making every effort to find a basis on which normal functions can be resumed.

, livery right thinking Canadian gstandmg position by rendering true must regret the action of res - service to its policyholders Ii low slble offciers of some Municipalities ~ net cost, and by contributing to the _hgppfly (cw, but some oi them “welfare and upbullding oi Canada use and important-in advocating wjrr conserving and investing its trust repudiation of obligations ior with wfunds on sound investment prin- such municipalities have already ~ cinies- received and expended the money I must confess to a measure oi o; mveswrg who trusted them.

pride in being closely associated A irom the flLlury to the

, with tho institution of life insur- mm; m“, munmpailue; mam- — once. which, during the difficult my“, m; hard grid expensive period of recent years has main- 1mm g1 which they will ieel when tamed its traditional position as may m“ require to construct and ‘s the guardian of the economic wei- pay 1oz- publio ‘works beyond the lame of the people scope of their annual taxes, such "The debacle oi i929 and 1930 wu mpudggmon, particularly in the case

aeurance "$21,174,304 (excluding annuities), 42 per cent. or‘ the business was is- ‘flsued on the lives oi people who s11 ‘ready held policies with the Uvln‘ panmnd the number of policyhold- ers teased by 2,500 to 16,000. The total amount paid during th: year to the policyholders, who are - the owners oi the Company and re- ceive all the siLplus earnings, was ‘ $17,280,625. This ilgure includes $4,- 321,211 in dividends, 'l'l per cent oi Hie total payments during the year were made to living policyholde . The President stated that in the sixty-five year period the Company has paid under insurance contracts

iéiNHHHMUIHH

ciatlon or the privilege

iinstltutions oi‘ the country. -‘ It has attained its present out-

terprise, the eflicient

>_.

have been saieguarded extended lifetime, its and protective influence thousands oi Canadian

and when one hears on words of commendation

; ’~f’laffi~.:.rr<.rw

; undoubtedl mitigated in l. 819M ‘f 1 municipalities, has s very _ :1 degree by he position or financial Se... etiect 0n theitwhole struc- ffifigffiiflifilfinfiuiituiiitlfiuuil? ilu

5- security which life insurance had attained during the years of pros- ... rl y. _ peThe realizable value oi a life in- ‘srirance contract served as a pro- . tection against financial loss, H! hind us and I think we may reas- ithe negotiable value oi many onmbly expect the future to more “Wqllities arid commoditiu IDPNMh" than offset further depreciation of ed the vanishing DOlIIt. 8-114 the securities by the recovery oi loses average citizen depended to a 1MB? for which provision has already n-Jsxtent upon the security oi his life 1mm made,

ture of Canadian .

[improvement has been sumcient- ly steady to permit us to hope that the period of capital losses in these industrial investments is saiely be-

toda , I cannot retrain

those who have

Organize

problems. has produced

gavings. _ Without exception. thr: life insur- oi this country . to satisfy the re- quirements of then‘ policy contracts, "and the strength of life insurance a“ comparfes stands" today unquestion- i rd. While life insurance has contri- buted so much to the general wel- , tar-e of the country the assets '- “lidlllilliflilefid by the Companies engaged in it have grown to a very - volume, it must not be ior- ot or overlooked that the money

iness issued by the company hlS been on the participating “plan, and the results under our p icipatbiisg glides through good times and

the past sixty-live years show conclusively that the net cost to our participating policyholders all policies in force for a moderate term oi years his been subslantially less than the lowest non-participat- ing rates of similar policies oi which we have any record. Our comings have enabled us in these difllcult years to make provision for depreciation on investments and for loss oi interest, and at the same time to continue to pay generous dividends to our policyholders, and as iar as this Com any is concern- od we aze ccniideri that our policy holders will obtain the best results from participating plans.

The purpose of the annual report oi the Company's Directors and Oi- flcers to its policyholders is to render an account oi their ltewazd- ship, or. in other words, to t: them what has been Cone with the funds placed in the custody oi the Company during the past year.

I find that of everv dollar receiv- ed by on: Oompan" last year- olc was paid to policyholders and

eiiciaries.

oessful co-operation. Underlying the many

niness and protection.

invested by us in fact belongs to our many policyholders. by whose ,_. Ithrlft and self-denial it has been . saved and by whom it has been j, Paced with us for the pr- ‘action of

past may prove an ins us i/c carry on the wor

heir families themselves.

sphere of limits hitherto attained

or the viiuable services the 00m

tody

ng. 28c added to the ll - m. w. n. So mu. Gen m r - "A lealmdi" iii-raw m Le m. . ' serves ‘gqauired by the ncigihiglr fi- Manalr. in a Qihoqeriensive ead- f3“; ,;°§°}‘,;,,,°’,,%‘,§f°,;;' E13,, balancing his weapon. “sire i)” not Imag‘ “*5”, ,1 “° , .. ' , surannz merit to przvide for dress dealt with the Ccmpan ‘s An- street Toronto m. mm, leading that we should meet Thabs-Yank?" u u u“ e n8 Mmwlue m’ . the fulfilment of poliiy contracts nual Statement and inves merits. 5d; 1m Keen eyes on the bushes Gray Iduwalt wading" Dimhes °t mam‘, 95°35?!‘ armrest. rarer. ..';‘.""§§“§2’ {Zifiifhlimfi “ureter”. o‘ "1" i” “-———-‘ are“ "a hem M M M = “ifs-ta: Mmum." my...» not... . ‘ , e S! , 1'2 , ' - . dition secirity ior our lpolicy-hold- “The greatest 11102825 among 135U55 mvnATluNs “r8 “m” 0mm" bu“ o! h” Samolite Discha-ging. guvgr-ygguigwmmwm‘ 9"- Com ' ets ; ' In“ {M411 ' sac w: compensation to field rep- Goevemmmyafndfitheroglgixé an’: (c. r. by durum‘- emu! Wire) "if; 2g: §°°°°¢ t! hi"! ,.,,.,..-;'i’.°.°"is'i'l§i'emu“" r-i-armyn pour ' resentatives and the cost oi Branch Company's total Bond investments 10590.11“, pg, lfl_u,vjtgflong ch H mt kg“ l! with a m“ I In: - c I ___ - ?g11:64'_149'43411 are diversified u have DEED ISBN! by DI‘. H. A- Fongnaufiy he “an um be”; Foundation llianklyn BBQ)! City Loading ‘ . M at Ch“ e 3mm, metenam-Oovernol‘ of on: a mm,“ o, 5 second n.0,, 1, my Quarked City Loading. Mame Recharging, ' Wm... ,,=,,.,..,_,. recite marches... ‘are c“ i= milmrss... “we We i’ '1 ‘i’ 7' ieaentin i PNVIM ' ‘ 311g - . g.:;:.:in"..:"i-.-2l::i.. -;- s: 1 no: ma; at"... m... a ,..lii:::..i. =:.2:-:..::::*..*::. "W 33'“ ""‘ ‘° ‘“ ' 355"“ m ’° m“ ..i..i.’f...""“‘.'?f. ' ‘if I ”-‘§},"§},’_,9 the mom callers to luncheoiiboe: Had that iron-hard sal-wood cn- 11—Chedabucto irom a o. Peru. :,_ n. 0. McCUI-L0(Hl Institutional .0 - 5,334 Gvfimlwllli Home. m. 2'7. u countered thebests head, it would Dominica from New York. ipmembmgo 5mm E_ g_ p0,“ V may“; duotrial s; _. 310355 13o cards have been sent out. have crushed it like an egg shell. from New York Aluimia from London I Other Corporation Bonds 3.2 + 180.084 This is an annual affair to follow “Quicker than he, and m0" deadly 14m Q-upe from flamt John 11 .pqmgnju 1mm New fart "H *7- ——-——aieepesiueitmiseuuture euiiu-teirwutneupeiiu‘ iromJ Ihoomore ' ‘ .. roi- must a be _, mt it m“ +""°"“" ————————- "ard- il-Iinoemoae from mverpooi. coma-ire irunmm iifvw. m. -‘ was lzv hie investment or these omcer maintained for tire oonven- new ruiicrmsse HUNTING 50"" 19°! ""11 II the bout norms. the Portia from mo. Poi-ts. mambo)... n“, N", y,“ savings-in man cases hard won up» o1 policvhvldm- MELBOURNE —1"eb. 14.—<0P>—— "ell-libel Wllletled ihwwih the air. Oen Conotrmtor mm Australia Idarwait from N Orleans ‘ mid With dlfllv W saved—in our 2. for general clerical and ad- New purchases throughout the Anus-alien farmers in irrigation “d 9m "e543"! b”? °1 m9 511W‘ is-Javaneee Prince from Far East Lara flngnawsqjnt ,1 ' policies that, in these t 3 day! miniotrative costs. war were thus mainl confined to m,“ u, mung 53mm‘; m”), leoPB-rdess lurched sideways -- fell, 1km‘, York (my mm N” York‘ Hum“ °m~ “many C. "mien families ave been 1o was paid to various Govern- Government and Pubic Utilit se- m- FEBMW” 33.13;}; w pm- éidflwlyl. and lay kicking convul- ' hm‘ “ham”- - saved ii l Wont l-lid 1mm thfi mental authorities in the iorm of curities. Oi the Government old- ' sive dark ountaiiu oi blood Bmnmawn 0mm hum u‘ Bu’ m‘ m“ 5- Hm‘- eioie. It is therefore imperative and taxes. ing: over one-half are obli tioiu N“ “w” ' mo“ ‘ ‘mm m. an,“ m“ Kingdom. il-iliortia MILD. Polt- - nssenttalthatthecimtnotlonwhioh .80 tor advertising, printing and of the Dominion Governmen. The . n was a mummies: m a “m” m" newscaster-homemade __ our investments are based be car- miscellaneous . yield obtained on new poi-chums Wgrfl] Thgu’ "oM-mlmmp ‘m, Gm . m, n Cinema Dodciifle from. U s ia-Javanese Prince from Iai- Inst - rlod out Iairly and honestly in mic Ac roi- the of medical selec- was 4.4a p.c. as compared with 4m . t t ' Y‘ ‘ Ports. 14-01mm mm I that wefiaiért tartar,‘ may cihrryhooait tiornrxgf risks and Edi-NIB expenslesa p.c. in 1933 and set; p.c. in 1992. Wglght Ill $3M” w mghormmolofi: Ksbo irom Now York U" a‘ Z 011i‘ wll 5 0111' P0 . - oompan aways 9mg in gt n i; "m" '- - - l f a I ‘I I‘ - g F?‘ For this wgmanrhvabsolu “yfioa mztohprideéisfi upon t.hbe lo; minor Vail“; 3“, N" gnaw“ u‘, o‘ fimélgiulu" bmkm?‘ ‘mud ma‘ u OM d kinherlvy from ‘m.’ ‘mm m" You-Lanai U l - J‘ “m” “ma” W 775.88 and the can: with W ich I ' - hecontracts gthentiit duet lmgggndthigghnrt ' been 9°44‘ "m!" Butthomoummedtooeenetb- W Ki . . not be mmm" "W! one that randy-sis will afford ample proof to by 3,12%, m.,,'§,.,1""¢§.‘§¢f,'h‘§$§°§.°§§ 35%‘ extraordinary about his action, Kill"!- fiflll “W? JWB- Iolnaido from Retina. i z confidence be rmdermincd and the most critical that this Oorn- timed to be paid whhout ex ion and having his sword on the Nan. Bkifldo from Saint John. ld-Beaveibin-n from Saint John. _ ;' _ sanctity of contracts . oied puny is conducted by and for its by m m, companies m m,“ m, lie. L. Gremlin Always Keep dud mm,“ m: pmmmd m h,” mun” "m, 30mm g mo] d Khmer] "on - will“ m ml" 11° im- policyholders. in their but infer“ vestmenis have H3611 made. A Supply In "nu. nun _ ‘ 16—Ducheis m neuron: from Saint q “m” l I1“- "°°'"” ‘he m" ‘M “l” w‘ m“ f“ m’ "m" - m company his any: taken ‘o0 forward!" m. l om, John. v gum, M, . oouragement would fall upon the A careiul perusal a: the to- its mm in e uwe Inert Grand N a lei-ling nu ah uld "We've to Monhalm u” “"- fiohriitylnd , olasoelmcnisplaccdinyourhandstoda “m, ,,_,,,,.,,,,v,,,,,_m( - Java-g‘ t ' mane?" M ~ . -B'kh|0i'mlnlaht-Iohn. »,~ waeieweiideigm :0 orts have cannot m1 to oorghinwmwu ti“? acme-M Iwvili Ii "W" W’ r-ii-eueymnirmms '0 "i: 1:’; good ‘L. and worth 9mfiamm” ‘n’ u” M” M“ 3”“- ~i ihlllt . W011 - are e an _ n ._...____..____..-,_... iwmmeepehae. mnieede- efficiently adm g m? th Qifldfmfi t, gppgqyfiygaigfi “Riffiiff , _ worth ma! rupees. in oeotdi. snorted niottmgmm mm Gotham-I (o. ha, awn"... m", : elino oi the national income dur- the beet thought of your Omoers is w, m, "m, Wmwm by m, "h their weight in cold. writ» i!» little Mocha. turbine hu ahoul- m", - qnAwA m, m. __ A m 1 e on hsl resulted in being suocessiully devoted w main- “tum o, m, ma", mum“, Mrs. Giondin, a resioentni thii dw-w-Iiuliy- 11-minute» mm s: o Peru committee in r5 51ml”, m” distribution 0f 11W taming at u low a point as ible o! mmnmc piano. "In i024 I ouflered untold Picking up hll hlovatblsdo, he Ann“ ha“. ' e, national ho‘ "m ma, .0 in and nu 11mm to boiler-no era oi ' mum with Hheltnltlflh, being mime an m u 'm"'”"luunu'°“°mu° "um- b oofcigndl. and E I- $2.“ timeto ‘mum!’ o’ “n” h‘ ‘n. "d" Marni, 3. ' ' e name . e, aggregate amount unqneetio ed 0mm: ich ' "limit The committee will t. . ,mm rereem pin ‘Wynn. ‘up’; 1g?” mfg; thzigunrliggwaxtgpaiegiaimtiggg 3:210; in siegay-enlmgumm . ' - tag 0f h t0 the total. l! Ne.“ Y W N '_ are: defame». my u: of m . Owing the history of our $.11’ chins, ,-°,.';‘,°,,, m - acgentrelg warren l.“ Bu” ll flilit the Amount be. of Cheer 1mm]; (om. ' w oi meme de- Dec. 81,19“ Total From nu “mm, a “MAO”, 5mm“ ma m” i iii: todnv than dining“ ' -- - - 141.com m win-wan l no 911'” ma 1M9‘ The Mortgage dl-illl Sale A reemenu Cit. than/t: I . i 0f ililiiflfl" ill ' ' ‘semi s.'10a'1e0 0.0 - 01.240 " - IIG w’.‘»a»"30&‘°3i°°é’m m '1': i33i"n§‘i’i§°' "“"" ' ' it’? l‘ 535m um - a i . . nu Tro bl a e e-wgii, “g, 5 marl..- ,. i : up e l ' rpm: cE..-E£’:.'-'..."'~%I~""‘~‘~’= ‘ll - ‘ ‘ 3:: Elicia?!“ 1333i?" ' ’ I Q netrndlor Acid! I“ The l. ‘gtbI-wltvrloIgfi-i omi- mm .......... .=..IIIIIIIIIII - 100m u, i” If‘; m: {netting-digit ' g wit". 3‘ mo ei-IIMIIT ’““'” '""- W?» -\ ‘

g Sixty-‘fivet Years in Strong Position $183,000,000 To Policyholders

W. SOMERVILLE General Manager

Company, which celebrates today its doth birthday. I may be pardon- ed if I express my profound appre-

service in a personal and ultimate gvay to this greeit institution. when no .. e I_ .

t menoement o! this oo-operative which the intezests of its members

the Atlantic to the Paciiic through- out a period coincident with Can- ada's development as a Dominion,

merit leaders oi commerce and iln- anoe, as well as wodrers in factory and izeld on the success oi its ef-

men ing on the enterprise and up- selfish devotion to scrvioe on the

art oi E. its welfare and success beyond the fondest dreams oi its founders. b d. in a mathematically sound and equitable basis from the beginning, each generation, with its

tegrity, industry and foresight nec-

thls oountxy and its unblemshcd record has become a model of suc-

of collection, investment and dis- tribution oi many millions oi dol- lars has been the purpose of to- moting human vmliare and the regard in which this organization is "Jld by the Canadian people is evi-

snce that we have not iailed ‘in providing ior their comfort, hap-

hope that the achievements cf the

THE CHARLUI"I'E'I‘OWN GUARDIAN

sun PLAYS 012G410

A" 75 XEARS ‘fakes Kruscuen twdfieep ‘Rheumatism Away V

Wri to tell iiow nu k her actlviigfmr-bil Inndeiiul 0.0%....‘ statesz- '

"My hands were so ciappled that l. had to give up piano

the

lingers are nearly straight, quite supple, and 1 run 75. 1 have man)’. peo ."-A. A. O.

The six have a’ direct efiect upon the whole bloodstream, neutralizing uric“ acid, which is the recognised cause of rheumatism. They also restore the “llmlllliilll Orsans to FY0991‘ work- ing order, and so prevent constipa- tion, thareby checking the further formation of uric acid and other hfglyrthpoisons which undermine the

e .

0n the Liability side of our Bal- ance Sheet, Policy Relervel, Unpaid Policy Claims, Dividends left on iricposlt, Taxes Accrued. Premiums

or‘ being of

oom- m- mariner in

during its

beneficent extended to homes from

every hand from prom-

irom com-

contributed

men oi in-

> "lsmbnce- m the past yea: there has been essar to the car in" on of this A. Russell, 1.1.0.. Toronto; n JI

‘Thrliilifllwlli the n‘?! dim‘ an incre sale or‘ non-participat- stead y growing irrrystfiution along Breithaupt, Kitchener? keen Pit-

. "°“ .31?’ ‘mnflmdami ff,“ g, , b‘ in: insurance. attributable. I be- efilcient and conservative lines. baldo, n.0, 1.1m, Winnipeg; c. r.

' ti? l e w a“? n no,‘ y lievmtoreduced surplus distribution Atrrotime throughout itsloitg and Sise, Montreal, Que, and W. G.

“We "m" 1" ° 9° ‘Y - "s ior the past two or three years to varied experience has it occupied a Miifrln. VfllWllWY-

ellimsm‘? "° ‘t ‘m’ “Westment a‘ participating policyholders. Since position other than ioremost BIRCH" large pmmrtmn M the natmn“ its organization most oi the bus- the liie insurance organizations oi

ODOHtI/iiiil

3h

rault. KC, Athabaska. Que.,;-and

su Mr. R. O. McCulloch was re-elect President, Mr. L. L. Lang, Vice-President, arad

were elected the following are mem- bers oi the Board; W. H. Somer- ville. General Manager, Waterloo, Ont: Glyn Osler, K.C., Toronto; T

and Interest paid in advance and Other Liabilities total $13S.5l0.l53.82. This is an increase oi $6,515,166.08 over 1938. The Policy Reserves are the ‘ which the Company must have on hand, so that with future premiums contractual obli- gations will be discharged as they mature. I think it desirable to em- phasize thls in view of the possibil- lty oi error in thinking that these

v licy Reserves are liar to the Rest or Reserve fluids accumulated by Banks and similar institutions. Thusythe entire in- crease in ‘rotal Assets of $5.499.- 22633, with a. small additional amount, is all required to cover three liability items referred to.

DIRECTORS RE-ILHYYED

The retiring membe of the ard; Messrs. W. G. Watson, ‘Ilo- mhto; 1a ca. long. Toronto: Hon. J- F. Fraser Halifax; Hon. J. B‘. Per-

C. H. Ho , elected.

At a meeting oi the Board held hsequently to the Annual meetin

,wererc-

First Hon. B. C. Mew- urn, K.C.. Seton Vice-President.

In addition to the Directors who

5000 Facts About

Canada For 1935

The public will Baa-in welcome

the annual issue of “i000 Facts ed pasagg way.

About Canada," now in its 32nd

Itis my

year, compiled by the well lmown them Canadian writer and learn-er. phitheatre-a sudden bulge 1n m; liirank Yeigh, andwhloh has won narrow track. a well deserved Pflllll-larity ior the left of the exit-opening on the y“. wnciseriessand value of its inform- ther side, stood a large, not topped

_ cram. and if hope to do so again this August. my upon mum,‘ PM,“ 111d caravan route to Hllmpo was near-

recommended Kruschen Salts w mineral salts oi Kruechen “m

"tion to along the sound lines so firmly estzblishech] and will strengthen our determin- ticn to extend its benefits and its influence beyond

0f

the

gives me a great deal of pleas- ure to express on trhali Board of Directors, our apprcciaTn ;endered to ny bv its oiiice and field I ll forces. w ose riiicierit and loyal co-l operation have enabled us t: pre- sent this excellent record to you

a .

ation. It is truly a. tabloid cyclo- pcdia of the Dmriinion-Canada in a Nutshell-"or two" as Amid would say. Here within brlei coun- pass are all the salient features o! the country for the current year. arranged under iifty chapter heads