PAGE FOURTEEN Professional cards T. EARLE HIOKEV Chartered Accountant cenedlsn Bank of commerce Building llunmeraido, P. I. I. PHONE 2888 I W. Albert Robertson Chartered Accountant I. E. I. MUTUAL BUILDING Granville at Water street Sununeralde mu. 9. 0. no): 814! 331 E. E. PARKMAN Opt. I). ILU. OPTOIIIETBISI Glance Fitted - Eyes Examlneo Offlu Hours: 9 to 12 - 1 to 5 Ind by appointment. PHONE 3287 IEGENT THEATRE BLDG. Ilunmer SI. Summcrside ....:....L---- I. F. HUNTER R. O. OPTUZIIETRISI Summcrslde. P. E. L Complete Visual Annlysu Glasses Fitted PHONE 3116 lMALL3IA.'s lIl7ll.I)l'NG W A. Raymond Grunt. ESL. 0.1). OPTOINETRIST Complete Visual Analyala Classes Fitted 2!! Water Street. Summersldo Above Maurice Mill's Men's Wear Phone 3530. on. .i. A. Tw- iininon DENTIST Dental X-Rays Bmallman Building aumiiuansiua Dlsl me Dr. H. B. Md-cNeill PHYSICIAN Al SI.'II(iI'I()N Wlter Street (Opposite Holman's) Ecum- 11:00-12:00 A.M. Dally. , The remainder of the evening 2:00-1:00 Daily F.xce1vtWc4l- was plcasmitly spent by music HD6415! iirtl (I1lllCl".!. The music for the 720lH'l704' TIIPVIRR. I-'rlil:liJrvcii:r.iz was siipplicd by Mr. and SlWl'dM'- Mrs. Michacl Doucctte and Doro- And 175' WP9I"""9"l'- thy Doucettc. DIAL 1032. I .lfIl'llll)', Thomas, Mabel and Viv- r lflll. Address "and Presentation -on January 20. the funny, relatives and intimate friends of Mr. and Mrs. John L. Sullivan, Cluiton, gathered at their home to congratulate them on the occasion of their 40th wedding anniversary. The amiiversary cake mule by Mrs. Thomas Sullivan centered B nicely decorated table from which the guests pai-took of a buffet luncheon. Complimentary remarks were made by the groomsman of 40 years ago, Mr. David O'Connor. Clinton, who 1:-.ter called on Mrs. Joseph C-TOIIPII to read the follow- ing address: Drar Parciits: IL is with feelings of great pleasure that he assemble at home this cvciiing to convey to both of, you our lzcartiest congratulations: and best wishes on this, the ooca- I sion of your fortlelh wedding en-I Illl'PT5.'lF)'. On this l.lX1L'llE1l'LEd sea of mat-1 riniony u'ii.h its trials and troubles, you have exercised good Judgment and struggled very hard in sick- ness and in health for the welfare oz us '1. You have provided well, izze ways and zncans of our educa- tion mid sci ii good example for us along our road of life, in an effort to make us, as you hoped, good citizens of tomorrow. For so many fine QURIILIEG which .c so enclczired you to us, uill 1.0 doubt win van a very warm place in our hearts. We wish you to accept this gift, not for its great value, but as a small token of our esteem for you. In conclusion, we all Join in l1iS'&'.ll',I you llla.ll)' TIIOYE happy no.5 io;;ct.hcr mid 3. sincere wish, uizh tiic liclp of God's grace, for us all to be together again, to celebrate witli you your fiftieth wedding anniversary. Signed on behalf of your family. Among the niziny gills received wins a pmr of woolen blankets which were presented by Mrs. Louis Connick on behalf of their A lclcgrnni of congratulations ziizd bcsl ivishcs has received from Mr. Sullivan's brother-in-law and sister, Mr. and Mrs. D. B. Bowlen, Carstairs, Alberta. EVENING OFFICE HOURS Patients please note change in Evening Office Hours. Dr. W. Cflllilgllflil will be in office Moiiclay. 'l”liursday, Sziiurtlay cvcnings. Dr. 11. B. MacNcill will be in office Tuesday, Friday, Saturday evenings. Emergencies will be attended to at all times. Side Vie FOR w,.(Soutlll Open For Islanderls Tllfe files in New Brunswick -The death of Mrs. H. V. llam- ssy in the Soldiers' Memorial Hos- pital, Cempbellton, N. B., occur- red recently. Mrs. Ramsay was the daughter of the late Mr. and Mrs. A. Klllam snd resided there throughout her life. She was 58 years of age. Mrs. Ramsay is survived by her husband: I daughter, Mrs. R. G. Wood (Mons); a brother, A. J. Killam: 2 grandchildren and sev- eral nleces and nephews. Mr. H. V. Ramsay is a son of the late Theophilus D. Ramsay, who for many years was a mem- ber of the firm of Slnclnir & Stewart in Summerslde. I Mrs. Ramsay for many years THE GUARDIAN. Piusvllle and Vicinity -Meats. Anthony Gallant and Peter F. Gallent were binineu vial- tors to Bunimeralde on January 14. Friends and relatives of Mr. James McArth.ur, Roeebank, are pleased to see him home again after receiving treetunetit Western I-foqittel. Friends of Mr, Arthur Small- man. Mill River, are sorry to learn yhe had to enter a. hoqoital in Halifax for furthr treatment. and Mr. Rabh Muietl, st. Inor- egce, were recent visitors to Plus- v e. look a leading part in a number of church, social and community organizations and at the time of her death was actively associated with the Lady Alexander Chapter, Order of the Eastern Star: North- ITH Light, Rebekah Lodge, the l.ndics' Auxiliary of the Canadian Legion, B.E.S.L., of which she was vice-president: the United Church ServiceI Guild and the Soldlers' Memorial Hospital Aid. Funeral services wt-re held at tho honic. followed by .1 scrvice at the United Church. ()ffi(-idling were Rev. J. E. Munsnn and Rev. Dr. Hugh Miller. Hymn: suns: Included: "Sands Of Timc Arc slnkinz". "Now Tho l.ahourpr's Task ls o'er": a min by Frank l.ltilv, "Ncnr To The ltmn Of God." "ABOVE and BI'3YOND" STRONG DRAMA AT CAPITOL THEATRE, SUMMERSIDE '-The gripping and moving story of Colonel Paul Tibbeis, who pilot-I ed the plane which dropped the, atom bomb over Hiroshima. is un-I folded on the Capitol screen in "Above and Beyond," an M.c,-M, picture packed with dramatic in- tensity iind emotional appeal. with Robert Taylor and Eleanor Parker in the starring roles, here. is the story, told for the first time. of the world's best-kept secret and of the man charged with the lone- ly responsibility for keeping it. Colonel Paul Tibbets is the man' who was chosen from two million men of the United States Army" Air Force to carry out "Operation Silverplate." Every move he made from then on had to be Top so. cret even from his wife. Inevltably, Tibbets' own happiness became for- feit in the months of tension lead- ing to the instant when his B-29 ended a war and opened the aiomicl age over Hiroshima. I SKIN Sous Curbed While You Sleep 1 (l kl or a on your fall Ehlaeiiiliu eecr'II:'boIiy.niz'cn.e burn Ind embirraaa you, use NIXODIRM toni ht. It sings the itching and burnln in 'l or outer SALE BRAN Located in LAND Kitchen and Bath. Door. Forced Warm Air ir Modemfold Doors. pleted. o Inspection Wednesday. Ian. 21lh - - I lo5p.m. and1lo9 p.m. 0r By Appointment - - llrlle. Phone or Call In R. 1'. HOLMAN LTD. " Surnmerside MODERN HOME On Large Desirable Lot 75' x 125' Corner Granville St. and Victoria Road JUST OOMPLETEO I First Class Frame Construction Thoroughly Insulated With Fibreglass Full Size All Concrete Basement-Concrete Walks and Driveway. Six Rooms-Living Room, Dining Room, Kit- chen, Three Bedroms, Bath and Laundry. Hardwood Floors in Main Rooms - Tile in Built-in Garage with Easy-Open Conditioning, Oil Fired. Equipped with Every Modern Innovation - Crocker Aluminum Combination Windows - Palnted Throughout-Interior and Exterior- Ready for Occupancy-Finish Grading com- Msy be Well Financed. a Mr. Frederick Kelley, Roeeville. was visiting his son-in-le.w end daughter, Mrs. Norbert Oorcorsn on January 22. Mr. Emanuel Ge.l.lsnt and de.ug'h- ter, Rebecoa. Roeebonk. were visi- tors at the home of Mr. and Mrs. William Gallant on January 23. The members of the st. Ann Cllub held their monthly meeting at the home of Mr. and Mrs. Maxim Gallant on January 19. A vrhisl. party was held at the home of Mrs. Angelina Blanchard recently. six tables were in play. Ladies first prize was won by Mass Gertie Gallant: second Miss Pearl Gallant: consolation, Miss Theresa Gallant. Men's flret, Mr. Fred Gal- lant; second, Mr. Eddie Blanolierd: consolation, Mr. Paul Gdhnt; freeze-out Mr. Albert Gallant and Miss Yvonne Gallant: door prize, Mrs. Fred Gallant. Miannd Mrs. Clarence Gallant of Toronto. are visiting Mrs. Gallarutls parents. Mr. and Mrs. Nelson Gel- lant, Piusvillc. -B B. MONTREAL, (OP)-Police Bun- day reported theft of a wallet containing 5260 from .1. Cornell, New York City publisher. here to attend 8. week-end oonlverntion. The wallet and I. briefcase were stolen from Mr. Cornell's hotel room. Both inter were found empty by hotel employees. STENOGRAPHER REOUIREII By Dcpariinent of Fisheries At P. E. 1. Biological Station Ellerslle, P. E. Island Apply to II. R. Found, P.E.I. Biological Station Ellcrslie, P. E. Island O NEW Summerside FEATURES: EOverhead Heating with Winter Air in the Mr. Vernon Ramsey, Roeebenk, CHARLOTTETOWN FINANCIAL STATEMENT PRINCE EDWARD ISLAND MUTUAL FIRE INSURANCE CODWANY STATEMENT OF INCOME AND EXPENSE for the year ended December 31st, 1953 INCOME: I - - Net Premiums -.....3124.638.&i Net Intefelt 9,467.42 ' Net Office Rentals , 565.96 3l34,6'l2.24 EXPENSES: I Agent.s' Commissions ................. ..S 19.42536 Losses Incurred 51,299.81 Inspection Costs 879.40 Administration Exp 18,454.75 Depreciation on Building and Office Equipment .......................... ...... 2,127.78 92,187.70 NET INCOME S 42,184.54 Deduct: Provision for Income Taxes ......-... ................. .. 1836.68 S 40.64738 SURPLUS FOR. THE YEAR BALANCE SHEET December 31st, 1953 .....3 3,397 .96 ASSETS: Cash on hand and in bank Notes Receivable-cash premiums 691.45 Agents' and Manager's Accounts 1,249.83 5 25,339.24 Dominion, Provincial and Municipal Bonds, at cost (approximate market value SK!9,885.00) .3221,l07.29 Mortgages and other securities , 0 Accrued Interest on securities 1,150.36 110,507.95 Real Estate. at cost less depreciation 44,940.08 S3K),78'I27 LIABILITIES: ' Agents' Accounts ................ ... 43.90 Provision for Income Taxes . 1336.68 Reserve for Unpaid Claims .. 966.66 3 2,347.24 NET ASSETS: Balance, December 31st, 1952 53.10.859.26 Add: Surplus for year .... 40,647.86 Adjustment of 1952 Incomes Tsxes 7,693.51 Ki79,Z)0.63 Deduct: Net Investment in Office Equipment 1,260.60 Balance, December. 31st, 1953 .. ...................................... .. . 377,940.03 S3K).'!B7.2'l i AUDITOR S' REPORT We have audited the records of the Prince Edward Island Mutual Fire Insurance Company for the year ended December 31st, 1953, and verified the cash and bank balance and securities; 5 As all insurance is on the premium note plan, a reserve for un- earned premiums, as described in Section 69 (4) of The Insurance Act, is not. required to he segregated from the Company's general reserve; We have examined the reserve for unpaid claims and in our opinion it is adequate. We have verified the balances owing by agents, holders for notes for cash premiums; snd by policy- After deducting the net investment in office equipment, as shown above, the Balance Sheet does not include as assets items prohibited the annual statements by The Insurance Act from being shown in required to be filed thereunder; Under a decision of the Supreme Court of Canada. mutual fire insurance companies are now taxable only on net investment income, snd during the year an adjustment of 87,593.51 was made for taxes that would otherwise have been payable for 1952: Subject to the foregoing comments. in our opinion, and according to the best of our information and the explanations given us, the foregoing Balance Sheet sets forth fairly and truly the state of affairs of the Prince Edward Island Mutual Fire lnsursnce Company II at December 31st, 1953; All transactions of the Company that have come with our notice have been within its powers. H. R. DOANE AND COMPANY, Chartered Accountants. Chsrlolieiown. Prince Edward Island, January 20th. 1954. 10: THE POLICY HOLDERS OF PRINCE EDWARD iISLAND MUTUAL FIRE INSURANCE COMPANY Thirteenth Financial State- enulng December Your Directors wish to submit the mom. of the amalgamated Companies for the year Gut. 1966. If there were no unslgsmstlon this would be seventy years Prince Edward Island Agricultural Mutual Fire Insurance Company ' would be in operation and the fifty-first year the original Prince Ed- ward Island Mutual Fire Insurance Company would be in operation. The net premium income for the year amount: to S124,638.m. This is a decrease from the previous your of approximately as.ooo.oo. Most of this decrease in income was In the months of November and Decem- ber. no doubt due to the fact that the price of potatoes was very in- definite. There were very few policies issued on potstoel. The net amount of interest collected as current revenue for the year is 39,467.52. This is also a reduction from last year and your Directors consider that the cause of this was the same as the reduc- tion in the premium ' me. Our assets are In a liquid form and are entered in our Plnanclsl Statement at cost. The market for Dominion of Canada Bonds is off, therefore the bonds are not worth their original value. This does not affect the Company because your Directors can see no cause for the liquidation of these Bonds In the Immediate forseesblo future. Our total investments excluding the building amount to &09,3U7.59. This amount is made up as follows: , Dominion, Provincial and Municipal Bonds .3221.1(If.2 Mortgages and other Securities . H.303) Accrued interest on Securities 1,150.36 In our opinion the assets are all liquid and could be turned into cash within I very short time. The losses for the year smount to 351,299.81. This amounts to approximately Forty-One per cent of the premium income. During the last fifteen years the percentage of income peld out in loans has bun gpmgxlmgtely Fifty-six. Our experience shows that in ordinary economical times the law of averages governs the amount ol lose and the average as we said before is approximately Fifty-Six per cont I0 that this ye'ui- with an average of Forty-One per cent. is an exceptional year and probably our surplus for the new year will be reduced a con- aldersble amount. Your Directors therefore do not see it advisable to reduce the premium rate. The following is an enll the year 1953: Rural Risks Urban or Village Risks .. Store Potato Wu t Saw Mill Warehouse Dairying Company Adjustments and the balance is mlscellsneo The following is on snslysla Unknown Overt WI 8! 7' Defective F ' Gr-us Fire Spark from flue on faulty of the causes of losses: r '1':-actor carburetor flooding 90- surpected lncendllrllm ------------------- S159” 011' Burnetl floodln ..-..------------- 4-737-09 Llghtnlnl A 155” Gas lamp , '15"- Chllaren playing with matches .............----.- L83-30 Careless use of lantern in barn .....c-......-................... BN1!) Cigarette Butt u...... -.. 9-” Fire Departments Thrasher Blower lnglno backflrlng Faulty fuse box ............ .-..........-.....-.-.-----l-- -00 S ark from adjoining burning buildlnl --------- 351” ectric torch .. -................................. 2o.oo Irteniferlngi fat, at on stove ............ au w n " " ' moo Smoking in bed v and the balance la mia llaneoua. total of IQIOOMIOO. Again we repeat that the amount of CI!!! liabilities as you know are the policies reserve pereontsge of the insurance liability has bebn very steady. We have I comfortable I g - Service Dept. JANUARY 27, 1951 reserve. It has always been the aim of your Directors to keep the run between the insurance carried and the reserve in a good healthy am. and also perform the best services at the lowest possible premium rate Our net income for the you amounts to 342,481.51. This is the amount which we received less the amount which we paid out. Dunn the year I Judgment was handed down by the Supreme Court 9 Canada which exempted the premium income of our Company from Income Tax which is a considerable saving for the Company. The interest income is still tsxnble so that odr Income Tax for 1953 amounts to 81.96.68 as reference to the Financial Statement will more full)' appear. The commission paid to the Agents amounts to about 15.60 per cent of the premium income. The expenses of administration of the Company amount to 13,7 per cent of the premium income. Your Directors trust that the current year will be a succesgful year and will again demonstrate the benefit of the co-operative prln. clple which underlies the system to Mutual Insurance. Respectfully submitted this Twenty-Sixth day of January AD. 1954 . Signed: I CHESSEL ANNEAR. OSCAR J01-INSTONE, T. L. LINKLE'f'I'ER, Committee on behalf of Directors. Poultry Wanted BUYING LIVE POULTRY OIIMEO THEATRE IKBNSIN GTON) Wed.-Thur. 7:15-9:15. The boldest drama of the year, starring Lana Turner, Kirk Douglas, Walter Pidgeon, Dick Powell- "THE BAD AND THE BEAUTIFUL” Also taking Live Poul- try in payment for KENSINGTON RINK Ioby Chicks WEDNESDAY, JAN. 27 Thursday. Jan. 28th sxsrma -are to use only from 8 u.m. until I .m. at my home on I- peque Rd.. Kenslngton. Fsrmers' League GItAHAM'S ROAD scnnvvtii-:1nLn Game 8,15 Sm, Mrs. s. a. PENDLETON skm Am, Phone 65-5 ANNOUNCEMENT I have sold my insurance business to the firm of R. E. ELLIS AND SON and all records of policies held by policyholders have been turned over to them. I wish to thank all my customers for the patron- age they have given me for the past nine years, and the confidence they have shown in me. R. E. Ellis and Son will service all policies now in force and will see that they are renewed on expiry. I bespeak for them the same patronage as has been given me. IVAN C. NICHOLSON Effective February 1, 1954. . 3:30-7:15-9:15 Today ......... .. 7:15-9:15 Thursday . .. REGENT ysis of the losses which were paid for This you no effected 813.541.806.00 Insurance. we now carry a steadily increasing, therefore, our llabllltioa have been increasing. our of insurance which we carry. Our liabilities have lnereaseil but so aloe have our nuts. The security leeway between the minimum amount of CAPITOL Summon-stale Tonight 7:15-9:15; Thursday 3:30-7:15-9:15 HIE LOVE STORY IEIIINII , THE BILLION-DOLLAR SECRET! "A ' novel '- Iniuioii lo ' I-:LuNoiPARllER ...JAMEs Wlll'l'tf0RE- lfmum sum, &tKulIllll.ir. -oi-nueeuuuuva. un-no1!1 jft-o&K-unseen wabaliouuuew AISOLATET NEWS REEL reserve required by the Insurance Act and the actual almounfunf mg l