CH 17, 1932 f. =06 . s - 0011111311168 {.1 us“ I’ , company- “"' (a p_ 5., Vegreviiiel “$10.1 o! his t.» 10f I dthe Sun Life Company, ‘ use or Commons tilts ' Th, charge made by the '0; commerce against the “ “mo”, Life, he said, was ‘ m, o: $275,000 belong- “ m, pofley holders had been n,’ under the guise of l, 5 mutual company. The or commerce, he declar- "_, 5 "great commotion" "we extent of charging J. and his associates with “M, The paper contended m; the time that Mr. ma Mr. Bradshaw had mchurgc, large sums had invested in unauthorized ,. and that losses had finined as a result of this. motive in moving the res- .. said Mr. Luchkovich, in ,_.., was to ascertain the “otherwise of the state- mde by the Journal of H , He felt that the great “d uncertainty of people m; policyholders in the: H195 W011! ample 19850115 gmg the matter to the at- . of Parliament. resolution, said Premier Bennett. was one which had . broad bearing. The blist- ot Life Insurance, and of .. Companies was not con- ‘a Canada. It flowed into countries. Policy holders in ,n Life were located Japan, i. and the position of the . was a mattcr of llnport- ding to a decision of the council, the business oi Life cc was under the control . Provinces, continued Mr. t. The Dominion had an in- o act, out the validity of this he been contested. The Jour- ltCommerce itself had con- that the Federal Govern- iud no Jurisdiction in mat- ut insurance. However. the insurance Companies had, for been making returns to the n, Broadly, it might be Int thc Canadian Life com- t. bad been carefully investi- llld lmd stood the closest some time now the Sun iaurance Company had been largest in ‘Canada, Mr. Ben- nsertcrl. Its ramifications ex- - tar and wide. In each l‘ where it did businessj it railed upon to undergo the -- examination not only ns l business transactons but as -» financial structure. It hurl subjected to examination in United States, where it had ‘re business. and in other l" E5. Tariianlcnt was being ask- on the strength of statements rilicil no proof was offered, to that there must be an in- lion Mr. Bennett continued. rchnrgcs had been mad-l lilesanlc paper in the pnst end lperiod of time. Their only appeared to be to dishcarten in number of policy hold-r lui make them suspicious. Fort -~ of n year, in season and‘ i season. these allegations. been nurde no proof was ot- ~ lie suggested that it would lust unwise to enter into a l discussion on these char- lithe present time. He re- uuvuuua; §l0pS the Pain = , Discussed on,“ Lurch 1b. — dun P1155) — T11111- mrn, American Life wclmel d:- u, investigation by the m,‘ commerce committee gm’; into the affairs Tera cr-mncorrcrown GUARDIAN PA.GE_ ELEVEN N” Sleep. N0 Rest -— Gas, Gas All The Time "For 2° Years 1 mu lndl gestlon gfidlllillétviaas restless. ltervous and s” and I: 9:1). Adler-Ike. rid me of A. Cloud. a and 51°“) “WE-Mm You can't get rid of gas b Y doc- cnumwww» BOTH u wei. Adicrilra reaches wash,“ P1101‘ and lower bowel, u. “min t all-slim. bad sleep. Get; Ad- I ° PY- Youil sleep good to. “ 5'“- mlihes D111: co, ma. EH, Bf. minded the House that the courts are Open. .Thfl Prime Minister turned to I seheral discussion of the inst"- ence business. In the premiums, money was collected. vestment of this money in 0mm- lhat the wmllflnics might be in a position to meet Obligation; as they arose. On the statute books were lirovislons indicating the panics mlshi: earn. 1r they bought mlhllll; but Dominion of Canada bonds, unquestionably no question would arise as to the solvency of the companies, but their earnings would be materially reduced. The Dominion Parliament was responsible for setting forth the securities in which the insurance companies might invest. Mr. Ben- nett indicated briefly these secur- ities. The companies were permit- ted to invest in common and pre- ferred stocks, among other secur- ities. The value of stocks 11nd de- preciated. But the value of firs‘. many regarded ‘as the major sec- urity of the world, had gone down ten per cent. Inasmuch as there frequently oc- curred, over a. long period, depreci- ation in security values, the duty had been imposed on the insur- ance companies of building up rc- servcs to provide for their future obligations. He believed that the Canadian companies should have the same opportunity to do busi- ‘ness as companies in foreign coun- tries, provided always that those officers whose duty it was to in- spect the companies could testify that they were solvent. Those who knew Mr. G. D. Finlayson, Super- intendent of Insurance, could tes- tify to the fact that he wnsafirst class actuary. l-le was at the hear‘ of a good department. Mr. Fin- layson had been entrusted ‘with the duty of investigating the Sun Life Assurance Company, and, on December 31 lust, he had issued his certificate that the Sun Life was a solvent institution. He had no policy in the Sun Life nor in the North American Life. said Mr. BennettwHe believed that the Sun Life wnsas solvent as any comp- any needed to be in order to do business. He believed that it was. wrong. that it was doing a wrong i to the Canadian people, to give “malignant and malicious attacks“ on insurance companies a certain amount oi.’ credence by reading them on the floor of Parliament. The Sun Life, nt his request, had. passed a by-lnw limiting the pur- chase of common stock by that company. A year ago, the Sun. Life Life common stock holdings were 51 per cent. Today they were . 47 per cent. Not long ago the holdings of Dominion of Canada bonds by the Sun Life were “neg- , ligible." Today this company had $23.000,000 in Dominion of Can- ada bonds. The avowed policy of the company was to have $200,- 003,000 in these securities. Impass- ing. Mr. Bennett declared that the President of the Sun Life himself had been a very heavy loser in common stocks. Mr. Bennett reiterated his state- ment that the Sun Life carried on business in practically every coun- try. It was doing a very small kindness to the Canadian who had his money invested in Liic Insurance to cast doubt upon the Companies by readinB unsilpliilfi- viii find a missing letter. "I which the prize wlnnin Accuracy in forming the correct name will be the first ttinsideration, but neatness, originality and 811884 ill Ming a solution to the contest editor will also Mutt. Four valuable prize "It missing letters. Compose them in to the iirm's "the and mall your answer to the Contest Editor Charlottetown Guardian, leach him not later than T Contetants must enclose with their solution _a mrent week paid bill from one of the advertisers ln Th! Missing Letter Competition. Ills’: Week's Winners- Miss Austlna Mutclr, Rocky P01111- Mfs- H. B. Dennis, Marshfielrl. QPPF - F. Woolner, Fitzroy IIISSING LETTER CONTEST Herc is a chance to win a valuable prize. In some r Ii the advertiements appearing in the contest you Illiltllier will form the name of some firm on the page M"- A. H. Ilidner, North River. These missing letters put g solution will be decided. s this week. Get busy. Find Charlottetown, P. E- I- 10 uesrlny night- form of I Obviously there must be an in-I rates of interest which the com-l class bonds had also gone down, The United States gold bond. by' ‘should such statements be voiced‘ ed statements. He told of a Sun Life policy holder in Great Brit. ain who held l policy for 340,000 pounds. Persons had actually gong to this policy holder, on the strength oi’ rumours, Informed him that the company was headed to. wards insolvency, and suggested that he get rid of his pgucy m, 300,000 pounds. The policy was about to mature. I He had long held that there should be more stringent restric- tions on the investments made by For free um I a g F M Almlhinke: cooflmro Insurance Companies and he Paul, Minn. believed that those should be laid down in the statute, said Mr. Bennett. But he was re- minded that there was no statu- tory restriction on insurance com- Ipurly investments in Great Britain. ‘There they relied entirely upon ‘the wisdom, integrity and vision of those who directed the enter- prises-and it was seldom that a Eluife Company ever came to dis- aster. As to the wisdom of some of the investments to which reference had been made, he had no doubt, éthe Premier said. They were such as he would not have approved, but they were perfectly legal and ‘could be best described as an er- ror of judgment. "I wonder how many in this: l-louse have made errors in judg- ment in respect to investments," ‘the Prime Minister observed. The ‘best Judgments in the world have been wrong in the last five years. No one would ever have conceived that strong, old securities would depreciate in value as they had. The same thing might happen again to the wisest minds under the best possible circumstances. “It may be well." the Prime Mln- ‘ Ister continued, "that it is desir- able that ln the future, when con- I ditions have steadied and fluctu- ations are less marked, that n calm, dispassionate investigation of the whole business of insurance _in Canada should be held. "I am hopeful that some of our Provinces. uniting with the Do- minion, will agree that it is to the public interest that there should be a central control of Insurance. rather than a control 2y every province in this confecieratlon." | I He had very accurate and com- I plete knowledge of the North ‘ American Life Comparrv, .lai"l the Prime Minister. It was brought to his attention last year that the company was to ‘be nurtuullved. Control had passed to Mr. Oundy and Mr. Bradshaw. the latter. one time treasurer of the city of Tor- onto. was held to be a man of the highest integrity and business acumen. He conceived the idea of mutuelizing the company and was sending circulars to the share-I holders. Mr. Bennett had Mr.‘ Bradshaw and his Solicitor come to Ottawa where the Prime Min- ister examined the scheme and as- sisted in revising the notice so that “he who runs might read," and know exactly what was under- way. He had insisted that this notice be sent to every single policy- holder. said the Prime Minister, giving them the fullest details of the terms of nlutualization and dates of proposed meetings. The resolution to mutualice passed without a single dissenting vote. Why then. asked the speaker,| in the House of Commons on be- half of those policy holders who, when given nu opportunity. had failed to express- a single objec- tion to nlutullllzation. The entire common stock hold- ings of the company now made up only 5 per cent of the assets, de- clared Mr. Bennett. The Company did not. belong to either. lVfr. Gundy or Mr. Bradslinw—but to the policy holders. The whole matter had given him much concern ever since he as- sumed office, said~ the Premier. But he could see little result in reading from Hnnsard and Jour- nal of Commerce reports, before the House, other than to cast dis- credit upon two great Canadian cnterprises, and tum to distrust the faith of the people who have entrusted their savings to them. “These are solvent enterprises and I believe no in estigation should be made of the character suggested," declared Mr. Bennett. People were always too ready to enthuse over success and con- demn fallure. They were speaking in the most glowing terms of the Sun Life Company a. few years ago when the huge profits of the com- pany were swelling the dividends credited to policy holders. Who could have foreseen what was to happen, he asked. Very few com- panics felled to find ‘hemselves in difficulties when values drop- ped. _ "I would like to feel that we would not consciously. in a time of restrictions I FREE Merchandise S3, $2, $1, S1 THE SKATING SEASON is IIOW 0N EH10! Illa wort this yr-nr with a new rrulr of STARR SKATES “'0 have n full liue-all ulzu and pt-lcu.‘ The Rogers Hardware 00., Limited NEW SPRING SHOES Now showing at Lowest Prices in years, $3.03 1nd $4.011. Wright Shoe Co. formerly ALLETS Missing Letter Contest READ EVERY AD—FIND THE MISSING LETTERS-READ EVERY AD "i Farr Merchandise $3, $2, $1, S1 FOR PARTICULARS IN REGARO TO CONTEST SEE THIS PAGE Our Sausages Arc Considered TllE BEST Try Them For Sale Only A LAWSON’S II. L.‘ WIIRTIIY g TIP TOP SAMPLES for Spring have arrived- New pnttcrm- Wondflflll Values. One Price only-Made to Measure $24.00. O. A. BRIICE SOLE AGNT Tile Pupulwr llrugglnt | t . i 1 ENGLISH CHARCOAL TINPLATE I The above absolutely best for Inhaler Cans. We guar- antee only this quality used in our Cans. Book orders now. IIELI‘ HOME INDUSTRY CHARLOTTETOWN CAN CO., LTD. Charlottetown, P. E. I. NHNWI-IITIIIIIIIII BEN’S TAXI The but in nervire gyul c," "fly nut] Night. ' BEN ‘S TAXI I11 Kent BI. Charlottetown, . '_ I; |_ GENERAL STORE w" "Pr? n r-umrlletr- star-Ir u! lllr rllclil prir-t‘. c. u. HORTON "Wm: Kin-r. - r. E. r C. C. HEESCHEN ' TIM Inuwrlnl Drulrlloro TOILET ARTICLES uprmuuu- In IIIMIPIIII"! Prescriptions. llmnko Supplies Phone ‘I72. 1R3 Queen St. Charlottetown We , T. G. IIIES, DURAN T ECHO GARAGE Buttery recharging and Auto Electric Service. Vacuun. cleaners and clcctric allllllflllc c5 repaired. Body and Fender Work 1 Specialty. Phone 1352; 86 Kent St Charlottetown, P. E. I. ls Your Car Ready ‘For Winter? Consult our 25 item check up for $7.50. Ilcar our Stewart Warner Radios. "orlrl \Vldc Reception" "Short and Long Wave." Charlottetown SHOW ROOMS BREAII-~~~~~ The Stuff of Life When you an! lllolnnis‘ llrrlul you huvu tllr- but. Mclnnis’ Bakery Tel I'll!- lf) (lrunvillt- Bl. JUST RECEIIIEO Some lpecinl rulur-n In Liullnr IINI licntn‘ “Tint Whit-hen. Jewelry or nll klurllr W. N. TANTON Mrs. 1L “Hillel Elisa L. A. Fulrrloutrlr limos lllurlt- "illrtlftftlllllfl Slump.- Permlurerlt Wan-n $7.50 uml $10.00 Th]; prlu- Iuclutlrrl |\ rupee-lull YItu-tuule ultir-lr In curler-tulip’ grmtl fur rlry ullll lifvltwn Illllf- Our trulnr-rl uperutrlrn rlu ex- rellent work. l-‘or ullrlolntrneut pliunfl 121:1 nr write 16B (in-at (lcortv ritrecl. I Toilet Arllrlvm (Emily, Bmoklul." >u|.pt|.-u Phone 1063‘ 135 Bush)“ SI- we .\I\l Iii l-uusls I'll Queen M. l'l|uln~ z"- (‘It-llini: intrl n. .. --fl-. PHONE mo I’ “Jam h Tlmt (‘ulln Unlen you are louhlnl for Style. Flt uml (lulllily. We hart“ J. 25!! Ovrrvrlltlh In (rum. You will In! nmlnPtl ut the ru-luttnnrllrlu tarts-cu. Iion’t Read ‘This g r-lluour itlrn’ \\'rur I115 lrPill “POPE: “l. Phone H1 " SPECIALS ” "ltulnlnnv" Salmon PTIUIPI" lltr . v '- ...l.";\.-.r.1-"";'" ti" u... u mu (‘rlrzrtsll tru- u ll. aorur-ignn rlllloa lliv ... . . l‘illl Ilent Take Home o Bottle of RED PLUM JAM ~10 Oz, Size 25c P. J. MacIltlIlALIl r. VERNON Rtliii. Z Alllll Fq-rttlorl tutti l1 zllrllzg, (llcrsn for u Rink" o! (Yarn. Tops nun rplron-lr-r-Lrlg r. Spt- lllfv. Pllune .. .1. 121i l-‘itzrrly Street Chnrlottrtnwn, - p, _ , “only REAROON’S Llttlirn‘ Ilulr Ilrelmlng I'm-lur- unrl BARBER SHOP ‘rt-l. lilo-J 107 Queen 8t. i I KELLY Co‘ MacINNIS I Watch Your Step TIN‘ World's thin: If yull wullltl IIIIIR llfe~'n tumbles, you ruuy t-ml them, '7 .\IH| ulll It‘! Illa Ilellullrler l!" Your hllnru In time and m ll IIIMII. ‘lzln- gnllr olmrn rebuilt Ivy HENRY NEALE Lyceum, Prince Street, City JIMMIE’S SMOKE suor shoe Sh-inrlle Parlor Shoes Dyed Any olrlr Trl. I525 171i Qllteu Sl- ‘vfivfivoovv-Qmovovovrfivvro-O ~§_O QOOOCVLOOOO-OO-OmOOOO-OQQOmOQOOOOOOQOO-OQQi Q+OO§O%% v‘v‘¢‘$ For the Week-End Pastry. Pies of all-kinds, at very reasonable prices. l.onergan’s Bakery Don't look around for Easter Novelties but come t White's Tea Rooms where a full assortment of fresh Chocolate Eggs, Bunnies and other sensonable candles await you. Prices from 5c up. WHITE’S TEA ROOMS bUNffifislDll 0g4mam+qsmr+~gm--§y Our many customer: can tr-rltlly n! to our (luullly untl price. Why are you not one of them. Wm. McKAY Trleplltrllc I311 Corner Fitzroy and Erltvlrd I PALACE CAFE ‘ "Ptulnr Illnnern we. TI‘! one Ind you won't go lay- wlrero clue. Special orrlr-rl at ull hours. v Telephone um. ‘Cor. (rt. (George L- Kgng m, (Ilurlolletown - l5 E, |_ 1 t auburn Try Lulu lloupcr unu you “m an nor-vice unrl nutllfrutfion that "I" "In you coming. LES HOOPER Kent trect Neal to Central Garage " made Bread. Cookies, M (‘rruftuu S1. ISLAND BRAND HOME STYLE BEANS ‘wuu PORK TIIE norm. PACKING co. Charlottetown. P. l, l, TEA noou Grocer flllll Baker Quality and Servlrr FIRE You are tllr-ur ull rurl tu the fire. tsnrl you llrrir from every nlrlc: "l womler ti’ llu In inlurrrl 1'" ‘ Ara luu T - n 1. 11.. Fire lusurlmr-o Overcoats. Underwear, Caps, Dry Goods. Rubbers, Boots and Shoes. Groceries. A. B. CIITCLIFFE Tel. 0-1 llunur Rlvn King's County Garage Company Ltd- rcqrm lir-nrrul Autu lfrprrlrllll srorugr- llrvtit‘?! |tt*I'“|"|"iI null Ifrvllurlziru; Aeceuorlelr, Olin. HUI, lite. Qprley Painting n Specialty Radio Salon null Service Montague, - I’. It. I- Singlo Textures. special Values in Furniture Covering. iienry MacFarIane s.» COMPANY ramrruo CHURCH aaronrs AND SIMILAR JAOB WORIL SPECALTY (“v3 Us A TRIAL. (traumas cusrlnu. 40B rmxflsRY MacDonald Bros. General Merchants ONE PRICE T0 ALL .r.»t. 102-1. llll (lrullnn T" v C". m. ztloerrgruurndlllmrhmnnd Special Prlcrs on Suits, mm, Tgpphjg .- Double and EXAMINATION fitting uurl Kunulyirtg (tint-arr. u. J. all. BON OPTWHIICTIKIQT Wnnlulruo, rt. n. r. om».- (‘unnrotrll with nrnznlore I‘. l. ISLAND Fotell urn fumlilll Fnmmu Rnnrhern 1min nu Peerless Biscuits llunuluvlurrrl by l’. E. l. Biscuit Co. Ltd. Charlottetown, - I’. B. I. Don't IIIIINC lira lrreuifl" l"" “m; n,“ DQIIQHI unrl that II YOIIR EYES J. w. JOHNSTON Haro|rIS.MacLeorI General Merchant \url Dflulfl In l-‘nrm Prorlurr STRATHCONA |-|0'|'E|_ TATLORING “"~ l‘;:“*;";'_f::;_".'°"- Theodore Sentner ‘m. “$333K” “will st. T“ "o", I“ 3"‘ u‘ LII II t: II 4r. illicit“ i- Souris, l’. E. I. A FEAST . 'l‘hut' you will enjoy Mlltzms Fea Room Telwvllunc ‘HI-I. lfll iu-Ilt Ntrrrt 372m? the best in Groceries. x ra Specials for the week. “"15- Tl’? us for your n“; rdcr. HIGH GRADE ‘ J . J. STUHEY Shoe Repairin w - F\Plret:rh|en, rung‘ I lvorl. u»...- uliil- you wult. at I.H:\'-||I-‘;gfi::|'"- hlwc slit...- Plinnr 1'.- Sfmc Dye’. “ii ("on Qnvrll null IIILVIIFIII rill-nu ('ltnrluttrtnlvn, - P. I. I Arthur Maclleill 100 ltent it. Buriroe’s Grocery PHONES 871-472 tlrlir-k lifllrlent Sen-leg (‘lmlu- (irnrrrlelr, Pfgflqlnn- (‘nnnrrl rum-r». Mnutn, “w: Fruit uml Confectionery. 0ur trurk In fllwny- u, ,1," service. ARGYLE SERVICESTATION (inn. fills. “Huglrlng nml Gremlin: Mnlpenrle lllmll Plume iIiII-I, of flowers — hnrblngers oi‘ spring — with beauty and f-eshness In every blossom. We have arranged a grtlary great world depression, do any- Canadian enterprises trust reposes so much of the sav- ings of the Canadian people." said Premier Bennett in closing. He‘ Street. suggested the resolution be "quiet- ly disposed of," in such a way as to cause injury to no one. thing.to injure these _two great. in whose‘ of colorful blooms to satisfy your most particular nerd. Our services are at your d15- posal. JAMES TAIT I-‘LOIST PHONE 269 Member Monet's Telegraph At the Lowest Price - Don't. Delay. Avoid Spring Rush lmd Save Money. Urholstcring. Slip Covers and Auto Trimming. Delivery Anociatlon Call 615-1 for Appointment. Expert workmanship uoranteed. E. J. GALLANT 100 Kent Street J. A. Mcitllilitlli General biercllau’: Georgetown. P. E. I. oooo-v-vvvv-orovovovooovooooooo» Georgetown, I‘. E. l. Vernon Ilivvr- P- PT- "I'm" ('llurlollt'ttnvn. . r. n. l- (‘nr. twyutouu, "m, ‘mlmy s". "‘ zoooooonouooooooooooog FRIDAY AND SATURDAY “SAY Now is the Time to Have Your sPliflALS zq L S o’ , - 31.1 I'll Ital . . - . - - - -- J" IT I,‘ 2 lhgsof IVCIIX; sCooIrIl-s ' "I d wrr REUPHOLSPERED to‘ lg... Boar: ...... .. M Jams, JG IE3 all l) , g- 0! . . . . . . ~ - -- "'""""°' mwms" REPAIR“) AND l: yo Mnov c» co Marmalade EASTER. Is Indeed a. festival T": h’. "um" m‘; i ‘b W. H75 ‘ Casforrl 8r White "limb"!!! k llcating Engineer! 2 for 250 Jams-All Flavors 40 oz. Size 29B Rix’s Grocery Cnr. liuskn s. Lonzworlh Ave z Phone 356 . o» o no uoomwwwwooo Give us a cunrc Io figure on your next. job. Repair-work attended to by skillful work- men. Pllonc 1143 169 Queen Si. Charlottetown, P. E. I. OOO-OVOOOVOOOOOOOO-O-O-OXQOQQ