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_jCl-1ARLO'l‘TETOWN GUARDIAN

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Basic F of Strong Position

‘LIN-GS! increase by the Chanda Hf: in new paid for life insurance including revivals, makes a total of $55,795,650 for 1954-

QLBIGJBQ increase in new annuity con- siderations was made in 1934, the total being S 12,257,820.

‘£361,353 inerenee in income from all gturces is reported, givingatotalof850,859,188 1954.

$1I.l19,672 increase brought the total assets of the Canada Life to $242,362,564.

60% inerenee in polity loan collections in Canada and United States was shown over the previous year, the total collections amounting to $2,250,000.

5,000 fewer persons applied for policy loans than in the previou year.

$25,785,518 was paid oat by the Canada Life during 1934 under its insurance and annuity contracts. Of this sum, $17,784,047 was paid so living policyholders.

$131,827,565 was disbursed by the Canada Life to its insurance and annuity contract holders in the five years of the depression, an amount greater than half its present assem. During the same period the assets increased by over $68,000,000.

shows substantial

Recovery from the greatest Economic Dlsloi cation the World has ever known seems to be under way. We believe it, not only because all News Agencies, Captains of Industry .and I Finance, and Public men tell us so, but because it is being felt in the pockets of the people and seen in their faces.

-We must get back to first principles. People must get themselves of the back of munici- palities. Municipalities must get themselves 0E the back of the Province or State, and the Pro- vinces or States must get themselves of! the back of the Federal Government.

Most people now fully believe that the world cannot get far on the road to recovery without International Trade. It is now realized that the nationalistic spirit has been over-developed in every country in the world. If that is correct, there must be readjustments of quotas, barriers of tarilf and import restrictions which a world of harried nations have constructed in their frantic striving for self-sufliciency during the last four years. Although it seems to be unani- mously conceded that, before there can be substantial recovery the channels of trade be- tween nations must be opened, every nation continues to ask, “who is going to do it first???

I3. LIIGHTON MCCARTHY

President, Canada Ufe Assurance Company, who 1n hla address at the lith Annual Meeting or the Com- pany, Janu y l7 stressed the mobility of the Life Insurance bul- rseas audits wide-spread benefits and pointed to sings of improving world eondltlona.

Professional Gard:

McLEOD e BENTLEY W. E. BENTLEY, K. C.

J. A. BENTLEY, K. C. Barristers and Attorneys-at-Lew MONEY T0 LOAN Office: 180 Richmond Street.

Prohibition Commission Chas. llJilack, Chairman. Charlottetown Ias. B. McDonald, West it. Petess. John Simpson, Hamilton.

Send all information reg

- Infractions of PBOIIIIBITION ACT

to the above or to Inspector J. Fripm. R. C. M. P, Charlottetown

NORMAN W. LOWTHER Banister a Attorney At Law 80 Great George Street Charlottetown, P. E. l. MONEY T0 LOAN

: Alex. W. Matheson

BABBISTEB, SOLICITOB, ITO. Mdney to Loan Collection . Qfllee: 140 Richmond Sheet.

Assets of Canada Life Assurance Company Increase Over 155/2 Millions

Another substantial increase 1n asset-s featured the Annual Report of the Canada Life Assurance Com- pany, presented in Toronto on 17th, the gain being $15,-

ah. l-eluhtou McCarthy. Presid-

j ent, remarked that the we Lnsur- ’ ance Companles have met the test

of the greatest economic dislocation the world has ever known, in a manner widen has demonstrated their strength, integrity and absolute reliability, emerging with increased public confidence.

The General Manager, Mr. A. N. Mitchell, who was recently elected a Vlce-Prealdent. pointed out that the total-income from all sources during 1934 was over $60,000,000 an increase of over $3,250,000. The sum of over $27,000,000 was pald to pol- icyholders, annultanla~ or benefic- iaries. Idvlng policyholders received almost. $18,000,000 apart from loans made to them.

The annual statement itself shows real progress 1n the essentlal feature of security for policyholders’ mon- ey. The surplus funds and special reserves total $8,496,288. and include $2,000,000 provision for special con- tlngencles, and $2,600,000 for policy dividends payable during the bal- ance of the Company's dlvldend year ending June 30th, 1035. After pro- viding $170,000 for other dividends to policyholders there remains an unassigned surplus of $3,726,268. the latter belng an increase of 8101,- 95306. The Company's position was further strengthened by the writing down of securltles by 81,199,720.

The total assurance 1n force amounts to $829,892,000.

The Company's already large holdings of Government, Govern- ment Guaranteed and Municipal Bonds were increased from a total of $67,509,801 to $83,366,107 and the distribution of assets now ls shown

Iaoh Wednesday a lucky

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MR. A. N- MICHEL, General Manager, and a Vice- i‘. ’ nt of the Canada Life As- surance Company, who addressed

the 88th Annual Meeting of the

return ABlAZEllFF FlllRlllA

Ships Rush to Scene in Answer to Frantic SOS Calls.

88th Annual Report of Canada Life

progress in 1934-

Public opinion being what lt is conceived to be throughout the world, stately the statesmen of the various nations can, in the not too distant future, evolve a policy or policies which will increase international trade and stabilize currency.

Confidence, moth than any other thing, is what the world most lacks. Confidence of

PrivateCapltalmustbe restorethand likewise at the same time musttheconlidence of Labour beestablished.

The report submitted by the Canada Life ls baaedon the consideration that safety is the first essentlalfactoroobeconsideredbyallfeim sursnce company which has a true and proper regard for the interests of its policyholders.

Aaspyelleeerlleehlslulhsnlelysealeasequssl

Canada Life

Assurance Company Established 1847

Leighton McCarthy, KC, President E. R. Wood, LL.D., “Vice-President

Herbert C. Con, Ulalnwen of tbe leer-d A. N. Mitchell, Vice-President and General Manager

M, C. Stewart, Manager, Prince Edward Island- S. W. Stewart-ll‘. C. Ramsay, Representatives.

ortwuu. scnooi‘ bozuciifih Chorus, m. Best Day o: an. t?’ Solo, my t steep ln-“Your aim

0n Dec. 20 the pupils of Orwell Cove School put on their annual Christmas concert 1n the Orwell Cove Hall. Despite unfavorable weather the hall was filled to cap- aolty. The hall was nicely decor- ated for the occasion by the pllplls

lchool.

710W!!-

Dlalogue. 4'“

w:

Welcome, by John Grant. Recitation, Bob's Girl. by Dannie

Christmas Drill, by nlue- pupils. tauoes Alter roses, Barbara Mnelood, Claudine

must, mum?" by Edison Mao- lean (ln costume.) Drill, m Grandma's Day, by eight senior girls. Intermission and sale o! candy- Drlll, Christmas Bells, by elgh Junior girls. Recitation. The Story of the star.

Ottymoblle.

1mm 2s. 193s

gue, (in VNegro ‘obstume: _ Monologue, Her first. Ride ln an llfldlbOd.

dmB, JON!

Recital-lea, ‘Ipmboy. Zita Rooney.

and teacher. Mr. J. J. Morrlsey very rown, Frances MacDonald, Mar- Dialogue, The Stowaway, Mar- capably noted as chairman. Miss ‘na Mckenna. ‘ by Alberta Nicholson (ln costume.) gum , James McKenna Hazel MacI-eod was the acoompan- Recitation. A Christmas Dllemna, Pantomime, Auld Lang Byne. llcll- lznmett; MoKenna, Alfred moles-n. lat for the evening. At the close of lorothy Rooney. Maelean and Patrlela money. Recitation, Christmas Eve, May the program Santa Claus amved Recitation by Kathleen MacLeod. Soloist. Alfred MacLeI-u. MacDonald (ln bed time costume.» and distributed gifts from a well Dialogue, Den-l as a Post, Isabel Recitation. Getting Ready for Chorus. Flarewell Christmas, by laden tree to the pupils. Santa, we Rooney l

rbllowlng ls the program: .

Menu, Doris Rooney, Alfred Mao- lean.

' (Patriot Please copy)

(C. P. by Guardian's Special Wire)

HALIFAX, Jan. zl-Beset by flames for nearly 24 hours, 36 Brit- ish seamen aboard the banker Val- verda were still stavlng of! deatl tonight as rescue ships drove to- ward the ell-laden vessel 1,000 mllea off Floridan southernmost

'11P.

As darknem shut down HI Val- vsrdafls wireless operator rqmrter‘ the engines completely disabled. but the flm then was confined to

Company. Mr. Mitchell dealt with‘ the after part of the poop dedr.

hallo faota regarding the Company's operations in 10M, pointing

Flashing to land after more thar

out 12 hours of silence that maagr

that Canada Ule assets laat year somewhat relieved lean aroma‘

increased by 815,519,672, and now thb $242,383,584.

total

1t. is interesting to note that as stated by the General Manager for the five years of the depression the Company paid out to its beneficiar- lea and policyholders a total of $131,827,506 or approximately e72,- oooperdaynurlngtheasllveyeers. the Company's ameta increased by 368.894.8903.

New Assurances lIIQd hrhg the year, Including mlnatatemenb. amounted to $51,000,518. a gab over 1983M $1,443,201. The new Paid-lot Assurrzi: "u 1.": ‘ fled revivals and

ln percentages as follows: incl‘. . » but eXcllldlnl . -__cn. o1 lc.:1l ledger Assets Q 100a Cash, Government and Municipal Bonds (Canada, W“ United States and Great Brltaln) ............... II DH Other Government Bonds ......... M I Public Utlllty Bonds ...... ......... 11.8 Ill Railroad Bonds . . . . . ........ ......... 10 .86 Other Corporation Bonds ....... 8.1 8.50 Preferred Stocks ll 1.78 Stocks of CanadlanBanksandflultootnpanlsa ...... l-l 1.84 Other Common Stocks ll .17 Mortgages . .... ................. . i! I50 Policy Loans ... l“ 1M5 Real lhtate (' ‘udlng Company's Building) . . . . . . . ll 6.4! 100M) mom

dividend additions. totalled I68,-

7004160 an increase of sunsets. The Reserves which the Company

holds to mat the llabllltlea under

policies new 1n force anxount to

efllldlqlll. These have been

Q

t E i E i

i l? i?

nsessagea that t from ti» Valvstda early this morning as the tanker boobed a heavy Atlantic swell on the way front Anao to Rotterdam,

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