' . s k The Guardian Page 15 1 FINANCIAL STATEMENT Western Gu ardian E?" -”;"'9.'3 't"9?."' 3' T” ” Le-e-ee-'"i""''i' ""'""" '"""'"""' "'0' A . , - C I95 IIXI ICTY CC Of CCCE -CARD PARTY in sea View Hall, J. Ma Neill, Ne Annan from the - 99 E B Plliml-II PRINCE EDWARD ISLAND MUTUAL FIRE F04-W WWW 290- list oicthose win" save rims: cards: Annual Meefing 1-05 ANGEI-E5 W” c- Gem” "ROYAL out-n.. no- INQURANOE COMPANY -WALTER B. SHAW will give Mn. John S. MacNeill. Brooklyn. Douglas MacArthur Wednesday nolnnx PHONE 828'! I radio address dealing with the g. Y.: Dr. and Mrs. Hubert Mac- -liid'a- Stephen Gilli: waauiillepied 5111”lgiggedoughfreggxga 5:;le:bo”f IuGlNT,1'EIi'.A1'BE anno. pinch": 193 Red Cross Campaign over onald. Dearborn, Michigan: Mr. pres. ent of the Ladies A ' ldry. W00 . i wedjfhur, 'I;15 5; 0:15; Matinee IIIIIIIN? 90- C. 11'. C. Y. on Thursday, Jgnugry and Mrs. James E. MacDonald. No. b l3l'BllCll. Canadian Legion. l5:w:"roA1"&::0l::g:ldVV,1,m '09 5'?" Thuuday a.wg...I-HE DIAMQND Oscar Johnstone. Long River, President. 2711:, at 0.15 p. m. North Bedeque. P. 13.1.; Dr. and last evening at the annual meeting P "Th! cum would-be main”, QUEEN" 1. technicolor. starrinx Chg:-fergd Accounfanfg . Walter G. Macxauie, spnngueu Lu Q1, vn,..p,..u,.,. ,.uocKEy' Bedeque Rink, Fri, Mrs. Alex MacDonald, Temple. held Int the Legion Home in 5mm 9dr Fernando Lgmu, Arlene Dam gm: 1. uiaud 1.ia;' . an: -- - - ,r day, January as. Fourth game in Twit me1i51d9- "9 "1," - , d Gilbert Roland. A T- 39-110 5101”! .lamensnl;facu?'y. Charlottetown 3.13. 0 South Shore League. Wilmot Aces -ALL BOYS wishing to play in Other officers elected were past ne1;'i”'iu"':I”:ur:”;:fhel:'o ::5:"or' Canadian Bank of Coinmareo John In . Tllllleh vs Int 15 Rangers. Game starts at I midget league are invited to the V-e5ldEl1h Milt H8-Fold Hlirkness: . ' 3'11-'41"! Gregor iiuecauuin. Buckley Beach 3.13. Admission 25 and 35 cents, Bedeque rink to go on the ice at it first Vice-president. Mrs. Clifford gflilvjfrif t!9;;:f1g”"w;r,;t”i”""' -- rum. .. Phone tan Albert Ltnkletter. Ltnkletter Road g.wEg1- pnnqcg mm, mu, Can, o'clock tonight, Thursday, January McGuigan; second vice-president, Ab um; of Wu I he '59" it .. ...m.. '1'. J. Inmsn. Bedeqne . ' 27, Ages 14 to 15 inclusive, Adam. Mrs. Gordon Sullivan; treasurer. ” " '. - ' 00 W Amen Robe;-go I 5-0105 14K10ll- It 0 140817 01111100 . - need not even rest on international , - ll Cheese Annesr. bower Montague on Friday, Jan. 28th. at 3 p.;n. sion free to t. glrs. Iaeamliirch, secretary, Miss impaction of armaments. public KINEINGTON p, I L M13-11051 svmnmg Special speaker. Lt. C 1. Joli A. - KENS TON RINK 100181! "mil ' 1 i d th t ' n- Gnnvllla It Water so-eel ETA OF WCOME AND EXPENSE M.cDonAld' MJLA" p.oE.1. 1-21,". January 27, 8.15 sharp. The Farm- E”c'mV'3 MI” 3'79” "9137 ET)?-::lonby"A woreld gorfeapeagcaemsvotfild wed,-I-hm. 1 Md 9. Matinee -1-mm Iuminex-side santauva so Dominion Council, an League. Springfield versus Cav- n'”' M"' M”"”V Wylie. Mrs. .,,,u,, it, in his opinion. . ' ' ' gg DIAL P. o. eois tor am y”: 9nded D905mb9r 31-00: 1954 KENSING1-ON h I dmm t endish Friday January 28. Club P”cY mm”: 3011- Jim" w””"- The alternative he warned is gl:.-le5,f;;u1s-msa(l)N:;d-YePtu-re- - 8844 I51 " - "5 "9 c ' ' - Mrs. Geor e Chappell Mrs. ho ' ' ' uvcomza ' ' we payers: A special school '”m'P"” Abbi” '""”'"l V'""' I ' ' P'ePi'”d""5 "4" 0"” may Starring Gordon Macftae. Kathryn Net Premium .................................0l86.33l.1G 3199'-I-'18 Wm 00 held in the M11001 xensmgmn J" enu”' 8 Rm" dunk Bhcqmum mun" th' fvwld Am” nude” w”' Grayson, Steve Cochran. This show Ways and means committee 1 b r g Net Interest 9,551.14 on Friday. the 28111 day of Janu- -DIES IN "mm-A535 " M1 M" Co cu B 3 I" Y Sponliineoul C0m-Iu5- is sponsored by "The Lion's Club", Net omce Rental, Hz M uwsuu my 1955 at 730 o.clock m the and Mrs. D. F, Macxay, New Lon. . 111 u ulger. Mrs. John tong: a B. E. EIII8 N Son Iilmllnd . .......u.................... . , . even!-kg t-0 discl-In the E wbushm don, have tweived word of um Watson. Mrs. E. C. Smith, Mrs. Fire - Autn - Casualty ExPENstEs:Co i i of mm 12 for me Ke"si"m'g' 9131??! lTVlr0cIlvg:(KT1T,II:T;lt:i'er'Nl:Lb: Fr'1a':lT3plTone chrnminer Mrs Leo 1 ' e-e; summnr Agen ' man one 821,245.75 area. A representative of the De- ' . . ' ' A - . Lossesulncurred . 70,489.79 partment of Education will be m5k3- 301031 ;VluA::m"11;I18lB1'- gggquggzia e'i5l3;a.R&;;?:i DDTOMGTFISTS l'.i5.u'etf.o'iii.t?.."..5”-f.;ei.e'.'i' ' 19 33'? Pm:.lAtb1Es' L Le:rir;gEiTnrl:yE Shanks... pllilggliil M”G"l””' B E ante" 310' Depreciation on, Bulldini ' ' I . pr-e-sident Mr: .TJBI3l1(:'li:lE('3rtasrrU-l T27 07 the Mr M3"h”l J”hn5w” School Mglck commm”: Mal L” mum , -'mmE":du' PLL - Plume nu nd Office E ui meat . ' ' T ' as the nest s eake on Tuesda '1 Edmund Gn1”"' SMALLMA-N's BUILDING a q P . 1,074.12 120,019.03 cupied the chair at the regular W 1 f mpaood F u my -Buying comn1itt.ee' Mrs Celice The monthly meeting of the Prince County Fish e---meetio rut Ladi 'cib mi. Eveline or 0 EOWIP A -' , , ,. - NET INCOME .. ....... 3 35,-114,51 smmeisfdc f:,.e5byf:,.,,,,," C':m,cf: Group of the summei-side Baptist Gfl1llr"”'-H.Mr;'l-d Hggg WW9 and Game Association will be held in the Town Hall, A. Raymond Grant, aEDUC'1': Provision for Income Taxes 1,878.38 on Tuesday evening at the home of glhmcha gt? 8:2” 3 "Lat A2”?-l:'e3l' We.1d',m reponed ."','no!rteu?: Borden, Friday, January 28. at 8 o'clock. Interesting W w 0'11 E”. M. M , M "31 Min, rm 1 g an bug provo g 8 on ' I - - - 288 a 1' ac Summer sunpws eon ms: man zs,a3o.13 atgndauge. Tehe mlrelrs Sgentmtfiz "The Crises in Education". which 5,”'',',',1 ..yf.'f.' H" mghugm MT” Anna” 3'” WW3 '3”"'P'3m'”"- EV"Y0"” W9'””me- Above Maurice mu-. Men's Wen! .... evening Sewing 0., Red Cross art. was followed by a discustsloni This niche; ”" "l ' WW 111009111 N E MECLEOD PHONE 8530 icles and club work. Delicious re- was preceded by I devo Ono DEF A Vega 0, "mks w” m - ' ' i -----:----m - . ' ed to W535. on hand and in bank .3 10 33222 ggihmem were sewed by the M50 lc(hdridilrclT:dmlTise1dTiTlts'in:Isls' sCe'Es'io:.euTx' M” iiarknesi Ind her 59c'9m"Y- PHYSICIANS Notes Receivable-Cash Premiums . 097.10 ..'pR1-gsgyngmnu y,p,5,... The number of games were P13y9d- 80 ex.F,fuuVe' t . L. K. ZIELINSKI, M.D. Manager's Account . . . . . . . . . . . . . .. 1,646.68 812,676.00 Summerside i'.P.S. of the Presby- '97 which Wflieshmems were 5”” m,,,;s'”,5;',Y: Mame dvalxous Cm” General Pflwtltlnnaf , terian Church held its regular meet 90 by the hostesst Mr5- J35 Mm” progress wasreamagg 3 Omedtugln Malpeque Road Dominion, Provincial and Municipal Bonds, at mg on Monday evening in the rison and Mrs. J. F. Jenkins. year Mrs Ste hen Gilli" Sb 19 ' I nenstnztoia P E. L Rt11stt(;i;1pro:l1Biat)ethmaig(et vitailue 5235.186.50) chm-ch Mu with me pres-Idem, Miss ' ted -the tr-easurlgfs repos-t suwhririigi; C de Phone: , Kenalngwn 2 or es n er ecuri es . , . ' ' H , -:- - ,' "pie?- Accrged Interest on Securities ..... .. . 1149.67 356 570.73 I”"et,'Mm'""-"" m the ”2.a".' all,” Per50nal5 WW9” ""0 "'9 expenditures for p;.go1'oGRApHER Real Estate. at cost. less depreciation - . ' 431213.08 mist-ilip .-iii? Ttieiidenl -Mr. ctaytou Callaghan, Ebbs- giesogff Ya? Wm 3PPl'0Ximately TODAY Th rsd 330 715 915 S 'r-j- and the hymns sung 'were ”0 Mas- fleet, returned to his home Satur- ba'luEe wl ' mbsmnm bank ( U ay) ' ' ' ' ' TIIE READ VTUDI0 3412-454-34 ter Let Me Walk With Thee" and (lay, Jan. 22nd after spending his ' D. W. HEARS H ,, . . . . Mrs. Harold I-Iarkness is the y p -T Jesus Shall Reign. The ldible holidays in Framingham, lviass.. canteen convene, for February. 20th Century Foxs Encore Triumph TT ” 'T'."' BALANCE SHEET i33dyM39"3.33epF:fe'i.t53"i35dMyT3E 5253.,-ti).-.f.. h.f1.u""itTf. M55u32ii'.T 9' 0"” W member was welcomed D9""'m December W-1954 E1835”?!-?...E?.1i.i:1L.i”::::”::2:.” ngggug gt 2-"Emil?-"":::t: ":.;”::..i:.i"S.s;”:i.: "FOREVER AMBER" ,,i,3;,-,,;;,,,;:-,,r,3;;i;,-;r;,, 11, ms: 5 air rseuau . iirs iree. t - - ' - uMAgeTiTs' Account 8 43210 TrftrergsatlsngmTITSTACTA-eilg T:0wglf””l?); aull1tlTlerSlllE. wiii b(el s:ii'rybet(ci leap: r::3,'naIasF;:lR,:g'gbyth';. bclfrglgsii; Dial 2386 Summer-sld

Income T , pa. 1,1 , . 954,33 - . ,- imat sue is con inc 0 W1. 1 t h p IE5 'm?

Provision Effiffun X31 Toss claims .. . .. 0050.00 10 436.56 John Ha""””k' 3"" Thwh refresh 091' fight ICE in 8 Cash A11 W111 E2 m C arge WITH 4 GREAT SCREEN PERSONAL” D13 Hubert MMNCAU. M--I-I

p ---- I y "16"" were mvedi W” 1" V”5"”'E he” 3 5999” "9' Linda Darnell - Cornel Wilde - Richard Greene Physician-Surgeon NET ASSETS; S -SUMMdER?lill)plE ((5-lF(lIl3)LSA-5-Sn'Llilli;:i covery. A F 1 COAL CIDEFICIT . Water street, Snmmersfde. 233.i"”;..1:.?::'i2.?:'..f:s;.:35i ..:i:";.:i.:i :2. .,, I, E, M i I F. .:2:.”;0,:::S.:?”::.:??.-.222- George Sande" . ' ' Tuesday evening .at.the home of . . . u about 2,000,000 tons. T : uo3'o35p-,5 the County Commissioner, Mrs. D. Deduct: Net Investment inoffice Equipment .. 1,008.48 L' Mme" plsmct C”mml55"mer Insurance CO. Mrs. T. L. Linkletter conducted the meeting, opening with "The Prom- a.t....... December 31st. 1954 402,023.23 W WW2, ,, ,,,,,s,,,,, g,,, badge An1nual1Meerihg 1'o-mau1 1,15 . 9,15 ulzhmpu secretary. Mrs. R. A. orne, ex- .-i e auiiua mee mg o ..u1ce plalned in detail, the requirements Edward Island Mutual Fire 1nsui- BORDEN 3:: E: :i,i;i:”ei.:.i -?3ii.&3.Tli”ys.I."5f...Efi2 .3333: s.m..3Z"”...'f..l23”'"T 4 will AUDITORS' REPORT Little House emblem. Mrs. K. day the twenty-fifth day of Janu- V! W IIIOIII with - Ci'l-imp. secretary, read 3 letter ary AD. 1955. The secretary-trear ....:::.::'.:..:.",:L::;':3?.;:”i;?.i:.ii:.”.;i'.::.i:i:":i:'.'i:hi:.:'.:'t2.:::.:.: mm Mt T. L. ..”"'”"" ”i""'"i" gg MINAllD's ' ' Mrs. Rankin Nesbilt. Containing sented the financial statement. am” Tlme 8330 9031'” ' the cash and bank balance and securities- - I ' suggestions for the observation of directors report and auditor's re. Admission 35 and 25a . 1 L I N ' M E N f As all insurance is on the premium note plan. a reserve for unearned .. .. h h F b , , premiums as described in Section 69(4) of the Insurance Act is not re- Thmkmg Day W m I5 8 wary 1”” " 0" lmkmg 9”” "'9 3”"? Meeting 00 arrange sche- p aasreau sodas: aired m'b. led fr the C m an . n H! ', 22nd. '-5- ment it will be noticed that the dule of C L u fte ''''''''''"a''''" T thrill. draasslg '1 "gags om O P ya so a reserve' -FUNERAL SUNDAY - The Company had another successful mg 8 a 1' gamm -GM-U 0" We have examined the reserve for unpaid claims and in our opinion I 81 I th M . F Canuthers I, .40.. I " " ”"M""” "wit ldos 31 altr on Janu- "fit 1. i 0c 11 r M 1' J We have verified the balances owing to agents by the Manager and W" 9 "n W 3 5 "9 ' . r' Wis "" 0 ' u": 5 ' by "C, home” for notes for cash premiums. ary 23rd. A short service at his Inman, Mr. Vernon Ciaig, Mr. pAof0ar deducting the net investment in office equipment as shown 1”” re5ld9"Ce 1” A"3"5'5l0e CW9 George Grant the manager and ' It 2-30 P-BL W85 701100190 by Service others took part in a discussion in T

above, Hie Balance Sheet does not include as assets items prohibited by die nisiirance Act from being shown in the annual statements required

I) be filed thereunder:

Subject to the foregoing comments. in our opinion, and according to bent of our information and the explanations given us, the foregoing alance Sheet sets forth fairly and truly the state of affairs of the Prince Edward Island Mutual Fire Insurance Company as at December 31st, 1954.

All n-an ” ban within its powers.

of the Company that have come within our notice have

l..R. DOANE AND COMPANY. Chartered Accountants.

arlottetown. P. E. I.

in the Tryon United Church. The services, ,which were very largely attended, were conducted by his pastor, the Rev. Lloyd Archer. The chair with Dr. Peter MacDonald as organist led in the singing of the hymns, "Unto The Hills." and "Abide With Me." A male quarette composed of Dr. Peter MacDonald, Arthur MacI(ay, Austin Smith, and Roy Dawson, sang "The Beautiful

regard to wind insurance. No final decision was made but the door was left open for further discus- sion. Elsewhere in this paper the financial statement, directors' re port and auditors report are pub- lished.

The following are the officers for the ensuing year:

Walter G. Macxenzie. Spring- field, president; Gregor MacCal-

Land." Pall bearers were Messrs. lump 3 cktey 3. hp 1 . .

um”-y Isak 1955 James Carruthers. Cedric Campbell. dent; L, Liniszfter, Vlsclf,-:,r,1e:,J-. 10: THE POLICY HOLDERS OF PRINCE EDWARD Vvmillfell M3l"ifarf(l)3l'(ti?n- fidW;':t 0:3": gvilde. seflretaiw - treasurer: -1 o h n Ems. B "W - I t . . T ' h: Alb 1 Link-

ISLAND MUTUAL FIRE INSURANCE COMPANY venue webs,” mermem was in ;e3:r'l 0Lnkle:l8;'r15 Road: "0 8 C 5 r Your Directors wish to submit the Fourteenth Financial statement the Tryon United Church cemeIer.v- Johnstone. Long River: Chessel

'- - Annear. Lower Montague: James

of lie amalgamated Companies for the year ending December am. 1954

If there were no amalgamation this would be Seventy-One years. -MASS CARDS-The following MacKay, Charlottetown RR. No. Prince Edward Island Agricultural Mutual Fire Company names were omitted in the "In 6. and T. J. Inman. Summerside al Prince Ed- Memoriam" for the late Mrs. N. R. R. No. 3. -5.

would be in operation and the Fifty-sixth year the origin ward Island Mutual Fire '

Company would be in operation.

The net premium income for the year amounts to S136,33l.16. This is an increase of approximately 812,000.00. A great part of this 812.000.- tll was short term insurance such as potatoes and other produce.

The net amount of interest collected as current revenue for the

year is 30,551.15. at the end of the

This amount is not increased proportionally because year we bought bonds on which we had to pay out

the accrued interest which was charged to the incoming interest This

accrued interest will be shown in the 1055 collections.

Our assets are in a liquid form and are entered in our Financial Statement at cost The approximate market value of our bonds is according to the present day values 31,500.00 less than they show in

the financial statement.

Our total investments excluding the building amount to 8356.370.00. In our opinion these assets are all liquid and can be turned into

cash in a very short time.

The losses for the year amount to 378,489.00, which is approximately 825,000.00 more than last year. This amounts to approximately Fifty-Six

per-cent of the premium income. During the

last fifteen years the per-

centage of the premium income paid out in losses has been approxim-

ately Fifty-six per-cent. Our experience shows that

in ordinary times

the law of averages governs the amount of loss and the average over

reserve percentage of the insurance

between the insurance carried and

of the premium income. per-cent of the premium income. Your Directors trust that the

year and will again demonstrate the which underlies the system of Mut

'S1:d.) OSCAR

liability has been very steady.

We have a comfortable leeway between the minimum amount of reserve required by the Insurance Act and the actual amount of reserve. It has always been the aim of your Directors to keep the ratio

the reserve in a good healthy state

and also perform the best services at the lowest possible premium rate. The commission paid to the Agents amounts to about 15.60 per-cent

The of administration of the Company amount to 18.7

These latter two figures have been about constant for some time.

current year will be 11 successful benefit of the co-operative principal ual Insurance.

Respectfully submittccl this Twenty-Fifth day of January A.D. 1955

J OHNSTON E

WALTER G. M:-icKENZIE i T. L. LINKLETTER Committee on behalf of Directors

How cool: can REAL corrss BE?

- lnahciiiilleit...

fifteen years is approximately Fifty-six per-cent so that this year was

an average year. Your Directors therefore do not see it advisable to make

any overall reduction in the premium rate.

The following is an analysis of the losses which were paid for the

year 1954. V Rural Dwellings .. Rural outbuildings ..

SPECIAL MEETING

Special meeting Borden Branch Canadian Legion

Urban or Village Risk 5-036-74 p .

Hangar . . . . . . . . . . .. 30-00 will be held in Borden Legion Hall on

Seed Cleaning Plant 700-00

laotatoh Warehouse ltzggg THURSDAY, JANUARY 27 at 7 P.'lI. SHARP

urc es - Dance Hall 30.00 All members please attend iiervice Stations . 4-0:2-32 E RICHARD S achlne Shop - . ecret

Urban Apartments ...... .. 17-00 ' my Dairying Company .. ....... .. . 15.33

Summer Cottages 49077 eeeA--um-:ew -- 7 7-. we mu". ..... A....?-. Cannery . . . . .. 7-I-00

Adjustments . . . . . . . . . . . . . . . . . . . . 2,755.23

and the balance is miscellaneous.

The following is an analysis of the causes of losses:

Unknown .. . . . . . . . . . . . . . . . . . . . . . . . . . . . ..t83,022.7l. Faulty wiring . . . . . . . . . . . . . .. '. n

overheated stovepips and flue Cau ht from Fa ty shtngioa .. Oil Stove

Spark from s Ignited from threslier

TOWN OF KENSINGTON

We the undersigned candidates for Mayor and

Prove lo Yourself that New llescofe Gives Better Flavour, cup offer cup, than Ground Coffee

-4".a'-9?-2...; ”

and the balance is miscellaneous.

to This year we effected 314.018.000.00 insurance. We now carry a W I! approximately 340.000.000.00.

,1 BID we repeat that the amount of insurance we carry has been

1'. Ntdlly increasing. therefore. our liabilities have been increasing. our

(ylblwlles It you know are the policies of insurance which we carry. '11” p bllitfeshaveincreasedbutaoalsohaveourasseu. Thaaeourlv

:9 ,w.

has at Ihegregulur price, New Nescufi saves you up lo 40: I pound ever ground seine

Ben Champion, H. Daniel Boyle, W. Elmer Paynter. I-1. Bruce MacLeod, Robert Carnithers, Sterling Hunter.

Ch tstma 'rr . 30.00 , p , gelfe'ctl;:: 1-1iu::1 I of d! "1 9,3332 Councillors will, if elected, give immediate attention to l ; PIP in ex aua e -

gtfnvg; (1) The appointment af a fh-e.b,-igade which Wm I Here's all you do. PutY4 of I teasp-oonful of codes goodness is preserved in the wind , , , . , . . . , . , , 115.23 select its own officers; the maintenance of fire-fighting 9fN"' N'"-"I0 '0 0 c"Pt 'dd PlP"'K 0'" making. 50 quick, so easy, so LOIIVEQICIII . Sponteneoua Combustio .. 500.00 equipment, and regular fire drills. water. instantly you have delicious. ex- - -'i":i giant”. Eu" d ”"' hiieradng com.-e at its hsvourful best. 5:”) cc0n,om'al mo. -like manage all Ti. Gasoline turftg !l:Illstin1'1lU........... 'a35.'oo (2) Find the cost of providing water and sewerage; For New Nescatt is all nice, flothitlK ""' How-' offer no-A You'll save 254 . it gglgodgz pAl;il'int:Xwliot:e:lnatches - - 932-3: publish the figures; and. conduct. a plebiscite to deter- but coffee made from choicest coffee 0" ”"Gi'"i5C0n0mi'si1e--- Wtontho

. kllsmt 8.w"n: mpuove !'775:m mine the w1shes of the citizens on this matter. bgnnnaffedg fogsggd. P,-93"". Penn. regular size. So start today. Mlkl NOV

1 l . . f 1 n::ei'Dlelp::ltlLn:M:n I H signed, laced. flavour sealed. Int! precious dror Nescaft Nor fatnib ooiee.

.a..