' ggsrs,-_-_,...`..___*:-_f_~7 ‘ .-.1 . ' Annual _ Meeting L ‘ eA11Aiti¢---- ::;::::."f"' - -_- - in c Canada- Life Assurance Co. '1M_r. Leighton McCarthy. President, Makes ii Gcrvcsai. ilusiivcss ecviaw fosntfoi me worm aioirei; es per canads reoordl' 1°! 1129 cent. of the worlds asbestos; 55 per pwsperoul yw-_ nagwmgmgu mg cent. of the world's cobalt; Q per cent. mi that she has experienced many of the worid's gold: 8.7 percent. of _oririing ‘sad disiurhins conditions. _movement ofthe. grain in the “port market, and bythe stock mur- ket lfebaclshin -'the ` United States and glands, .closely approached of _e~ panic. and was shorteof complete, de- Individuala lost ille- iime savings, and in many cases mm, Business suffered _a setback ui`toi'ne_ilnes_. and if not in general only because' of the unprecedented ¢;;riinv.vrcsverity» It new reef ggmbly certain now that. so far as canada is concerned. there will foi- low a business recession, which should not produce any lasting hurt. We le assured by our foremost Fi- aanciers. !tetesmen._»Bankers and the cbiei Executives of our two great Railway Systems that the trade con- ditions in the various-l5rovinces ex- hibit upon -the -whole. not' e banner yesr. nor a cloudlese sky, but sound basis condition. There never was stimsinthehisteryodCe.'ns/dewhen punamuewholehupemate peak than -during the year when the developed sources our wealth w_e`re` more wide _end than ‘they "are today, and e time when the earning power of our people was sustained in so channels of production. Funda- condltinnl Are sound. and the ultimate _future of our °°\1=ffv I 7 roaaicit 'nu\nz.- The' Foreign 'I‘rede'of'the Domin- ion has suffered in volumb and value by the diminished grain.erops and the slow movement of wheat to for- eign markets. Our fotel _imports for the twelve monthsfending on the list twelve months ending Slat 1929. was $e7i,45'l.495.00. as for the same 'period the for by the mailer crop. but HYDRO-ELECTRIC DEVELOPMENT ` - Hydro-Electric power becoines each more and more prominent as Canada's _most stable end resources. 'and the steady of, _power development thr _' `outftbs_Domln_ion fence was sub- msiatsmoa curing. im. caps`elty_'of new installe- the total installations for to e figure oi'.B.’l2T,600.- _‘there are undertak- eptlve construction which, to the programme pro- wiii sea more than l.ooo.ooc Power to this tom curing the three years. It is apparent, that ,the raw of growth of years iiminot only 'oe maia- but .will |50 considerably in- and we are informed by the nspsrtmeat me ora-e yet awaiting d°Y0_l0Ulli_°l\i-_ approxi- l0.ooo.000- mines-~ Power. clam-Voices. ` _ conditionein the Western wsrs_'vsi*y unfavourable for lrowing of crops. / tack of rsin< seneral.--and in some districts i total crop sailors. _la urs fortunate _iiiltriots where crop! induced ionsaturs. the-grade is and‘ generally. lo!-193| 'lllllll ol 1988. Mvllthlifi the better` which the and .higher of the §§§g prmslpmy by gh, named- worid's silver: 0.4 por cent. of the in th’ png,” _provmcu ma uw world‘s zinc: and 4 per cent. of the _ RAILWAY! is no “mn for wmehemkm Our Railways have suffered in rev- ocioi>ar.1m.*`-'liars ti.sos.4ai,41s.oo, °‘ ”‘°“ ‘“'°°°’"“° '1'”°Y “mf ""1 _nd ou, ,Dm M “__ nm states their min are neue: ia cm- i si.ao'i,m,i`1i.oo. thus leaving ‘°‘ "“’ 1*" "°°°‘“'°°'~ ‘"1 ”‘ W' mourabis balance or s4;4so,esc.oo. 'bum' "’ °°“°”‘“° 1*” "lm" ‘“”°” Our export of farm products for m 'wth md d"°l°pm°m" ‘ o!ya:;%2]é%?fD27'9Q; °‘ "» d°'~ quent upon the investigations of the The decline in our fdvoursble trade Dmcm c°mmml°° md an mme' is W1 d erm Y P-rum, “_ menttng of their reccmmendpticns. ere _finding a definite and increasing _ _ market for their products within the §;;§:”;:|°°e:°”’;dh:::£ umm or cis Dominica. me they are exwrtmf _ . not only greatly improving economic f conditions. but are sharing in the eg- _ Annual Address the world's lead: 8.4 per cont. of the world's copper. 'I'his industry seems each year more clearly to assure its permanence. FORESTRY, PUU’ AND PAPER The primer! forest industries in Canada. together with the manufac- turing industries using forest prod- ucts as their raw materials, have experienced remarkable prosperity in 1929. end evidently expect even great. er _things -in 1930. ' Production of newsprint in the first eleven months of 1929 has reached the unprece- dented total of 2.486.584 tone. as com. pared' with 2,l'l8.49il tons in the cor- responding period of 1926. an increase of nearly fifteen per cent. over what was itself a new high record. While this Industry has some baffling con- ditions to contend with, it is appar- ently permanently and firmly estgb- lished. v -liVJlLDiNG CONSTRUCTION The marked is-eds activity of the last five years has caused very exten- sive building construction. and the iildcfilkins of_ very important en- zlneerins works. nosiaeausi. or- iios. warehouse aaa rectory nuua- ilils outstrip all previous records anus by the recession in buslnem through the lest two or three months oftheyeanbutwsersassuredby the Chief Executive Officers of each that they ses no reason fm alarm: U18# Wi' Uclmt-1'! and its resources have not altered in these months: that the! propose to proceed with courage in those things which relate to the maintenance and improvement DEVELOPMENT AND STABIL- IZATION OF CANADA The Maritim! Provinces conse- thet char- lld PTO" the Maritime Prov- oes for many years been end has stentielly' continued. It is herd to| realise the dimensions to which the' shipping industry of this Province, may lnuass, es Canada develops her reeouroesendesthsusecf the Panama Canal is developed. and as Japan 'aad China take more and more of what Canada produces. Truly it may be said that. with sucheviateae Canada nowhee.s mere recession in business should ot dull our vision or effect our courrge, nor make ue in any wey lose faith in Caneda’s future prosperity. MAGNITUDE Oi' LIFE INSURANCE BUSINESS It is estimated that the amount of Life Insurance in force on this Con- tinent psssed the hugs total of one hhufidred and six billions of dollars on t Nth of July lest. A most strik- ing fect ls that, while it took seventy- nine years for Life Insurance in United States companies to reach. in lolz, the first fifty billions of dollars, the second fifty billions has been achieved in e little more than six and a half years. _ The amount of insurance in force in Canada in-1922 was 88.l'l1,ssa,99o. and at the end of 1929 it is estimated that there would be t8.500.000.000-00- Thus it will be seen that the increase in Canada is apparently proportion- ataly keeping pace with the growth The amount held in reserve to pro- tect the l¢.il00.000.0il0.0i'i of poll” contracts is approximately ti,ll00,- 00o,000.0o. This vest sum does not lie idle, but is in the meantime used for the purpose oi developing agri- culture. food production, transports- tion. and in general public works everywhere. Life Insurance gains momentum each year, but is still far from the ultimate goal. as our people have not yet purchased life insurance suin- cient, on the everele. to indemnify their families against death for much more than one year'searned income. CANADA LIFE PROGRESS Ior our own Company the past year has been exceedingly satisfac- tory. 'I'he intelligent. well-directed ‘efforts of our Associates in the field have~~ps.id for $ltl,838.36B.0i| of new assurances, which. having regard to the twill conditions of the last few months of the year. is s splendid tribute to the calibre and loyalty of our representatives in the iield. 'I‘ha result of the year’s work hes been to increase our buslness_in force to the sum of s913,3093'it.00.en increase for the year of 891.583.2300. It will be observed that we -have nearly reached the one billion dollar mark. It is entiolpatedthet it_will be reach- ed before the end of Merch. 19301 I congratulate most heartily all the members of 'our Office and Field forces in Greet Britain. Ireland. the United States. Hawaii and Canada, and dedra to express my gratifica- tion at their splendid work. I J leave it to the General Manager to speak more particularly with reference to it. end their contribution to our yeer'e business. _ ‘ sunrius zanruscs The Qrned Burplusof M.255.6'l4.9!. exceeding that of isst year by ep- proxiinatsly |ee0.3i£.00. is the largest net Surplus your Company has ever recorded. It rei1ect|.'not- withstenmg the fact that there was a mild uensa epidemic earl; in to c have eiarmingiy increased. en cn- coursglng rate of mortality. It also indicates a wise selection _of lives. and satisfectory.eernings_ from our carefully selected investment securi- ties. Furthsr, it hes enabled ue to provide adequate appropriations for_ taking care of any doubtful securi- 'tiss' and to increase our Invests-nent Contingent Reserve to $950,496.97. making our total Contingent Itesorvcs 8l,4Ml.490.9'l. it bes_slso ensured the continuance of our dividends to policyholders and shareholders upon the present scale. It is most gratify- ing and worthy of emphatic new to find ourselves able in do nil this while accepting Sld1.00il.ii00.0ii of new as- surances. It csn»but greatly increase the already strongconfidenoe of the public in our institution._ INVESTMENTS ` ' The Report shows' that our assets ‘now amount. to li'l3.'ie'l.0t&.22. being a gratifying increase of ait,6l8.lB1.8l deer ielt year. q 1 l'l‘0llll ABOVE W elect -Leung my _ 5 ununuiu BAND. as we _know 'l1'°m her dlerv. cut ns ner our-is to send them es I- peace-oifering to her lover hoping that the sight of them would bring him back to her. But Sereh Churchill, wife of the greet ___ ~ Duke of Marlborough, gave herself Insurance Department of the Stale ol New York. whose steriderd is univer- sally and properly regarded as’ out- standingiy high. We still hold e high proportion of our assets in Govern~ ment. Government Guaranteed, Pro- vincial Govemment and Municipal Bonds and Real Estate mortgages. Despite the smaller crop in West- ern Csnade. our payments of prin- cipal and inicrest have been niet in a gratifying manner. and our mort- gage business generally is highly eat- lsfactnry. Our large and diversified mortgage business. amounting to upwards of 955.000.000.00, is e big Iaetor _in our total eaming power. which this year shows the satisfac- tory; average rate of yield of'6.03 per cen . ' The recent debacle in the stock market has brought more prominent- ly before the public the controversial question as to the wisdom or other- wise of Insurance Companies invest- ing any considerable portion of their assets in Common Stocks. It i-.as been reported by our officers. from their respective spheres. that the in- suring publio in Great Britain, the United States of America. and even in our own country. are labourfng under-‘the misconception that ALI. Canadian Life Insurance Companies invest a very large proportion of their assets in Common Stocks. It tbcrc- fore becomes my duty. as well as my U1 111° U`\\"»°d 3*l¢°*~ _ desire. to remove. in so fer as it is possible, such misconception. Our Company has but 1.44 per cent. of its assets invested in Common Stocks. Canada. save one, has, I believe, more than seven per cent. of its assets lu- vested in Common Stocks. ` ' The policy of our Company since its incorporation in 1847 has been. when investing its funds. to seek in the main to attain ample security of high standard and quality. and not fo be tempted through highratcs of in- terest or expectancy of proilt. into speculative investments. This I be- lieve is also the policy of most of the great Life Insurance Companies ol the world. founded on generations _if not centuries of experience. We have resisted the temptation to invest largely in Common Stocks. be- cause we believed that that which has happened would happen. and conse- quently it was not consistent with our duty to our policyholders. Wo pre- ferred tho fixed type of investment such as bonds. preferred stocks and balanced list of maturities. This sys- tem brings in a constant stream of payments of principal without resort to the market itself. in addition to interest. Then. too. the most herald- ed advantags of Common Stocks is the prospect nl profit in years io come. but that would mean benefit for the future rather than for the present policyholders. We do not possible but uncertain siccrctions to principal for future beneficiaries. and neglect those living, many_of whom will then have died or ceased to have sn interest in the companyf Had not the policy referred to been that of most of the Life Insurance Companies of this continent. one hesitates to express what might have been the result of the recent violent break in the steak market. Bufflce it to say that no Life In- surance contract has. as e result of the disturbance. been varied in any respect. as to dividends 'or otherwise. It must not. however. be assumed that. because most Life Insurance Companies have weathered tha storm unscatned, it was by reason of env the year. end that _ arising, rom °'“ m W' nd "“"°“ "°°id°nt° `flnenc'lal genius peculiar to their Ex- ecutives. or because they enjoyed any unique advantages of market posi- tion. Had the investments of those Life Insurance Companies bcen of similar character. they would have suffered proportionately with those. invlvidusis _end corporeklons who were afflicted. ` ‘ It has been convincingly demon- strated tlxat Life Insurance. by res- son of the high ideals of its manage- ment. aided by statutory limitations, has been so entirely dissociated from the speculative security market. its caprices and influences. that it was not endangered. nor should it evu be greatly threatened by this or any like catastrophe. The integrity and absolute relie- bility of 'Life Incurcncc contracts should never be subjected in the up- turna or downswings of tho market. Any Company which has passed through the recent market upheaval without feeling the pinch, and with- out sharing to any substantial extent in the stupendous losses. must be re- garded se fundamentally stable and sound. Your Company claims to be one of these. NEW HEAD Ol-'FICE SITE It is my that the .architects plans for our new erected si. and Urli- were let work The satis- hoped year, it will ready for ot was upon created 5 sian.. r E.; 1 as' ._’_` and no Life Insurance Company in* mortgages. suitably chosen in e well- feel that we should fairly postpone. li "bob" for just the opposite reas- Ion. she yearned for an honest qua;-. :rel with her devoted husband. hold- liug that-as s popular coster song |ha.s it: "Whats tho use of couples getting married if they never 'as a blcomin' row." .But the Duke w_ss s quiv.i;_genile- man whose tranquility held fast ln the face of Serah's wildest tempcrs. And she was e Vixen. Beautiful, yes. But a vixen. I O O 80 one day, in a gust oi rage. she made a heroic effort to break his maddening calm. narrates Donald Barr Cliidscy lin "Marlborough: The Portrait of s. C_onquerer"). She shrieked herself into nts of weeping at him and had showered him with rccrmlnations to no avail. So she cut oft her long. golden-brovm hair -whlch was his pride-hurled it up- on the table in front of him, and flounoed out of the room- I C O EVEN that failed. lie never re- ferred to thrincldent. But years afterwards, when he was dead-too late. too lets-Sarah found the hair. carefully folded. at the bottom of e chest to which he slohe had kept the key. What could anyone have done with a husband like that? Sarah did the only possible thing~she let her hair grow again. I l O AND. soon, "her golden hair was hanging down her beck." Ahl Happy memories. D l I AN occasion when Mark ,Twain was dreadfully funny-"dreadfully," for poor Mark-lsi. mentioned _by Phillips nu.-.sou ia no book 'about Emerson. It was a dinner given to Whittier in honor of his seventleth birthday- Those present included Wil- liam Dean Howells. Longfellow. Em- erson, Oliver Wendell Holmes, Mark Twain., end, oi' course. Whittier. It was known that Mark meant to spread himself and there was the keenest expectation of an unusually uproaripus Wcech. O C O WHEN it came io his turn Mark- bcgan to tell e story about three tramps who appeared at the cabin door of e. loney miner in California and invited themselves to his hos- pitality. They gave their names as Longfellow, Holmes and Emerson. At_ this point. instead of the anticipa- ting smile which Mark had expected. a slight shudder of apprehension ran acrom the assemblage. Was it poe- siblc that their ears deceivcd them? Longfellow, Holmes and Emerson; -trsmps? O l O »MARK. detecting the' chill in the atmosphere, continued his story in the hope of warming the slr. I-ie went on to describe his three hoboas as busy with their cards and drink. meantime citing apt quotations. in- geniously altered. from the works of their namesakes. To cut the story short. Mark. well aware that he was riding headlong for a terrible fall- ure, kept on to the heartbreaking end. Then “fell a silence weighing. many tons to the square inch-brok- en only by the hysterical and blood- ciirdlirig laughtcrot s. single guest.” It was a miserable humiliation for him and poor Mark went homo in an agony oi' suffering. U O l _ WHICH recalls the ilrst time I ever sew Mark Twain. It was at e banquet in New York. He was one of the speakers. I. is reporter-a red~letter assignment for me. At last I was to see and hear my fav- orite-next to Dickens-humorist. Well. sir. he spoke. for nearly half an hour and never said ia funny thing. It was one or his seflous speeches. And when Mark was ser- ious he was very serious. But. oh! what e disappointment. ' ' 0 I I AS a young men Emerson occu- pied the pulpit for several weeks si ford. of whaling fame. There he met many Quakers who told him anecdot- es of the kind in which-ha delighted Fbriristenoe: ; " "Mary," seid e ~Now' ‘ Bitifford i-*riots was wishes to be-mow tim. that to a certain lady. 'fit-has-been 'revealed to me ti-ist _rfsheoio-mga-ry thtt." . ' ' ""' -'ai»a¢r.'~ me ‘renin i't';na'i been reveeledto me. I wiiltell thee." U O Q ( ` `liMllt8ON could. M ~ s_ iota against-him-eu'_es _ne-.did qherr ii was mime ioibim test.isrs.,`ifeise Dell. daughters! l\uf\ie»'Cllolte‘--the --wizard oi tn`e new"-neifeesa sek- 3' sa. eorooerorl lraerseege. visit sis snvot: "wont do .soifinina ine ' o. the Uhitlflln ChiL\‘Ch in NOW B¢d" ~n.i.n;i sale is mi". l:.mcrson?" Her reply wes: "You‘re another." I l U AN amusing discussion on the origin of the "Toby Jug" started when Esther Singleton said (in “The Col- lecting of Aniiques") that the name was derived from Uncle -Toby in §teme's "Tristram Bhandy." Borne- onc in “The Uonnisseurv retorted HEY. nay. Mies Singleton. the Toby jug was inspired by a drinking song. called "The Brown Jug." written in ivsifwiiroh tails now "'i‘°i>v‘ Flllnot was a uiirrty oia roui As e'er drank a Bottle or fethomed iiow.' 'inc ixing said. ‘i‘o cut ni, hcad off?' 'No,' said Lord Rcsctery. ‘but to turn out the Parliament! Til: trouble-or the blessing-Ls that Oli- vers are rather iiard to find tiles: days, so the King can keep his head and Westminster its rump." - - - TD Ml* Luxmuorc, ol i']‘.o:i CLI- lcge this old tutor). l~'ci.>:~ua:-y 1381: "Lord Wo!sc!ey`tol:i a min wim said that lio (Gcucral "Chiucsc’ Gordon) was mad. ilial. ihe remark reminded him ci e story he had once heard of Pitt when he wanted the King to employ] Cgzncral Wolfe in i .a Bowl." _ Canada. The King said lic _wasi C l O young. Pitt said time would cure TOBY was so soaked "with hon- that. The King said he was of un °-it Uld 501180" that. after he was [ family. Pitt said he couldnt help ii( , _`\ <),._;»A~¢_\.-'ii_`;_1 dead, and time had resolved his body 5 Then the King said. ‘He is mad ' y _ _ into clay again. a potter formed fromfrili. said, ‘Ii he is mad I wi.=.h hc._ f " `;3_-f__‘.l_f_‘f~"~"?.' part of it "the brown jug" which ln- splrecl the song. Later a mezzotint would bite some of Your lllajcsiy-'_ other General.s.'." i .....; .._.-- ._-_. _ .__ .. ,--.- ._ ~»- Y" " ' ~_.-_,H ..,¢ _ _ _ ___. I _ _ _ _:__ a . ..__ _-2. __/Q iV/n'ppc- I U U is I “call me ’Erb. AND I still shudder whcncvcri l 'recall the appalling spectacle of au- . other correspondent slapping Ariliur the Paris Pence Conference and lvl- dreseing him as "Arthur." _ ter how well, or long, one has known them. In this category I put Lord Balfour at the head of thc lLst_ And ilf you know him you will agrcc with me. Beigiumms steady rise in iivir. ;costs has resulted in living in higho ".vages without sefioits conflicts. _ ___ American craft are being extensively used in the present craze for motor ! O C l X iriow Earl) Balfour on the back at i There are some people.-very few.f Secretary of Stats. "l'l'ien.’ said thc perhaps-that one simply doesnt] Minister. ‘he make one much ood address by their first names, no mat-; H62 ~ -~ n-...V- ‘ ir I in-iz to cd\'isa'i.he- general ‘_ public. that l _have scvorcdmy > connection with ih¥i'.~' firm of Clarke Bros., rind have boconiel ‘_ ia partnrr in the n_esv firm o£_ 'W Clnrlrc & M:scDon:sld,' whose 'f :umouiiwmciit appears in thi! -_ i issue. ‘ ‘ - -' -°-r ,_ I wish to thank the mAn)`» friends and custnmrrsfor l.hcil;_- generous support during my ‘_-. i~onui°f‘iinn with ('fni"kc Brnsf. L :intl af. the srimc time take thief. - opportunity n_i soliciting the jf same grnnrous fcuppnri for ‘my ‘i new parinrr :mil m_vsrif.' " ‘-‘» ' x L ` ‘ .. f , ~ . .»\.,_~e, It fs _ gi ’ _ Makes Wonderful Bread' -. and Biscuits-‘ takes 11..s....s.i/i rm ir- issues' iw new »rr»'s.§}.f§......ififfl§‘1»-igi_ _ _ -?=_=°.-_ ‘ »§".Z'_ 4,;-‘ _ "f ~ 5-? -/_/~_ fj- f/\ Z/gg 4 A *\\‘;\\>“»‘»= 5'.-1"* r “' " ii a Qiif-'"1 I 2-/ BOYS and Gi1'lS 5 ._ Believe in Fairies Hou/[an They Help it Boys and Girls know their Bread and Cakes. Perhaps they believe the Fairies do the baking. They have a right to think so when their Bread it-.-' wi .- and Cake are mode with Snow/drift __»_»_5_..r __ Flour. One thing is certain; the best _ ’ assurance that Bread. Cakes and » 'f Biscuits will be delicious, is to make . _` ‘l them with Snowdrift Flour. _?.`.<#~»¢ '~ ,its ` ‘¢'_,.._:,§. '“:`;~;'~/_ _ fl--_*1‘??~?i~\ ; ~. _igv-_ .‘-_.ww `. __ ' u' ' ' __ . q_` _ ii. "F: #"1 _'ci ~°°~=~ _.Z.." _ .'3<*_\\\1` A ‘~'_‘- ., _.u.,r ». - __ ,__ ~ ._ -| 'li f -// ‘-.3 ‘ .I5_` (fa gp/KQV ;w”0 ’ vt 97;. rf.; - r or J '..-a. _ {`__, '.», .`ff".` ‘ ‘_ "-~',‘r‘ , _ /a-/f , rig; e`~\ \:-/ lx _, .- 5 4 / Most women know that liaii [the mystery » of successful cooking is in getting the right -f-""r .. fiour. Snowdrift Flour has thc "mystery"- ¢h¢"m.1gic"-that good cooks are looking for. .\___.____.»»+"» __ _ \ . ` it "- ie i'l ~~ ~» -sri \’ _. ' . 5....” .,,‘ -_‘.- ['- _l _ 9: ai A llGl PATINT PIDUI, H111-ID IIQI SELECT \|AN]'i'OBA.HAlD W'BB'AT;n maouro. uouraafu. ounce. sais-r ioiw. HA *Fo* ` S1*/mnairn mi.i.iNc co. or c.\N.in.\_`.` msg; asia i» _ ' " ` ' ' _ muon a neoescomsrae-sos ~ c. s. nerr s.so1_1.._st,_r__s\_»qi. __- ' 115.: vi e /J. i i i 1 ' 3 ;`_ i' 1 ._ ri j ii il; ‘.-.ii ~f-- ‘_ ;~ A- -=::,=»¢ ..........~.......,.._\..., iff- iii" 4': ~......l.._'............ < ' ...<...»»......a.~_.~..»,r., ..>i.a-__..- 1 i . .Ii il .. l’-' _i . gr; r.. i ‘_ i P. i »\. . , 1. <.»_ \sesi_l*"l_"f‘§9"',` ur. ` ’= ‘_ i 1 ‘ . _ --if _ ~. my _ _ _ _, »;~ * . .~ _ ‘s ~,.'._.' ~ r ' > » ' . ' f _ ' _ ' ' . i . m` \.“ _ H/ 1 » .` _~ vs_ _- f ii _ HE ji »,; A J. Porn t=LARKi~f . .iii .' li-ii Cromwell). “That is the man we want _ "ig in Fra. r~ > 1 .