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on the part of the agents in the selection of risks. As an example he mentioned the agency at Mildmay where up to the time of the fire last week the total loss in a 1 number of years had amounted only $117. H. L. Jansen in his marks declared that tho fire ance was to a large extent $# ble the experience of theg mical showed that it can 1 well controlled, and that is exerted by the body tious agents who in always keep the i & company before their of New Hamburg and * z Inspector A. H. Devitt presented an interesting report which showed a gross fire loss of $123,857 reduced however, to $98,834 after the deducâ€" tion of reinsurance. He pointed out that of the 408 losses sustained, 127. amounting to $74,268 gross, were of unknown origin, while 77 were due to overheated stoves, furnaces or pipes. A vote of thanks to agents was unanimousiy . passed. . Manager Schmalz in moving this vote alluded stood higher than practically any other mutual company and also pointed out that the real estate of the organization was easily worth twice as much as the amount enter ed in the statement. Vice President L. J. Breithaupt in seconding the motion expressed his pleasure at the splendid condition of the company‘s finances and alluded to the prompt payment of losses for which the Economical has attained widespread Hlat Lang in opening the meeting referrâ€" ed particularly to the progress atâ€" tained by the Economical in a year when many other companies had to contend with reverses. He further alluded to the detinite policy of the Company to be more meerned‘ about safety than volume, a method which has peen followed by the mtwmnmnuhhnbun\ the reason for the very ntilfncwry‘ results attained. The financial statement presentâ€" ed by Manager W. H. Schmaiz showâ€" ed a balance over all Habilities of $1,233,300 and a gain on the year‘s business of $73,000. President Lang in moving the adoption of the report stated that the Economical today Not only satisfactory, but in every way most excetient progress was the keynote at the 53rd annual nieeting of the KEconomical Fire Insurante Co. held Friday afternoon at the head office in Kitchener...It was the §3rd Balance br@@ight over from 1923 Pmmmmu‘i Cash System . Premiums, Mutual System Premivra», ‘Additional |... interest Rulnlul Profit ual Financial Statement shows Balance over alil Liabilities of $l,2mfl â€"Substantial Gain of $73,000 on Year‘s Operations FINANCIAL STATEMENT nomical Mutual Fire Insurance Co. of Bonds . Directors and Members of the Economical Fire Insurance Company report that we have made a regular monthly audit of the books of account and vouchers of your Company for the year ending &, .lfil! and _w:my A, and that we have found the same correct and aoccording to the abstract statement and balance which we submit herewith. | morning. iso examined the securities which your Company holds for its investments and we hare found them to consist of first mortgages, But, anyway, it was sold enough? hds, as set forth in such statements. ; 6 Bince all the big willow trees at Respectfully submitted, A J. M. Martin‘s chopping mill have AsSETS Gov. Bond: ..$ 456,967.70 agiaixcasz«s +« . ©99,008.90 U +xsrerris<++ _ 10,006.11 ecount ....... _ 27,021.77 Account ...... 6,424.92 n us 10,230.67 Fiftyâ€"Third Annual Financial Statement and Auditor‘s Report of the OFFICERS WERE AGAIN REâ€"ELECTED Ont., January 13th, 1936. RECEIPTS ..$ 197,000.32 .. _ 82,004.95 a% 2,201.14 ‘ Those present included George C. H. Lang, president, vice president L. J. Breithaupt, Sheriff H. G. Lackâ€" ner, H. L. Janzen, R. Krug, P. Lauâ€" tenschlager and Henry Knell, all directors, W. H. Schmalz, managing *d:rector, F. Snider, J. B. Weaver, V. C. Cressman and Inspector Devâ€" itt, of the head office, Carl Kranz, agent, _ Kitchener, Louls _ Peine, agent, New Hamburg, and H. J.‘ Sims, W. J. Motz and B. A. Taite, of Kitchener. \ Benefit Fund A new step was taken on the part of ~theâ€"meoting in â€"theâ€"approval . of. a motion~Jookingâ€"towards theâ€"esta blishment of a benefit system for retiring officials and employes so that proper provision may be made. for them in cases of incapacity or old age. The President, Vice Pres ‘ident and Manager were Imructul\ to draw up a suitable bylaw for this purpose. * â€" On a motion of H. J. Sims and W. J. Motz appreciation of the work done by the directors and officials was expressed, to which motion Dr. ‘Laekner, H. Krug and H. L. Janzen made a suitable reply. ‘The president presented the folâ€" lowing report on behaif of the dirâ€" ectors, which was . adopted on! motion. To the Members of.â€"the Fconomical Mutual Fire Insurance After the meeting the present ofâ€" ficials were reâ€"elected by the board of directors. . on behaif of the agent body for the confidence expressed in their work. 62,832.91 25,922.66 « 1,868.99 $ 80,624.56 $ 361,830.97 Aut For the Year Ending December 31st, 1924 Total Insurance carried under 25414 policles, $42,887,87200 Government deposit â€" % * « ® $100,000.00 DIRECTORS‘ REPORT Rité®enmer, Ont., Feb. 6, 1925 $ 281,206.41 1,113,102.47 12,638.01 244,041 . 26 $ 1,032,908. 82 $ 1,369,776.14 $1,394,734.79 i7 CV â€" The gross amount of fire claims during the year amounted to ms.l 857.19. Reinsurance collected $25,â€" 022.66 making the net amount paid. out for losses $98,834.53 as against $111,126.66 in 1923, a reduction ot‘ $12,202.13. The increase in premiums received during 1924 amounted to $4,734.13. Respectfully sgubmitted, Geo. C. il. Lang, President. FINANCIAL STATEMENT The managing director read the financial statement, which is printâ€" ed elsewhere on this page. 1 9 Directors Re-cloctod‘ _ H. Krug, L. J. Breithaupt and W. H. Schmalz were reâ€"elected as memâ€" bers of the board of directors for three yeare. J. M. Scully and J. A. Law were reâ€"appointed auditors. f INSPECTOR‘$ REPORT Inspector H .A. Devitt presented his report as follows: ‘ To the I beg to present the Inspector‘s Report for the year ending Decemâ€" ber, 3ist, 1924 ~~ ons President and Directors, / of the Economical Mutual Fire Ins ~~_"Co., Kitchener, Ontario: Gentlemen :â€" The retiring Directors are Mesasrs. H Krug, Louis J. Breithaupt and W. H. Schmaiz and all are eligible for reâ€"election. / Monthly audits have been made,| the records of the Company are wollf kept, and your Manager has given close attention to business. He n‘ ably supported by the A-m-af] Secretary and staff, while the In~, pector has well filled his office both in inspecting .and adjusting. . Mr.! Devitt‘s report will be found interâ€" esting and instructive. | The securities held by your Comâ€" pany are all of high order, consistâ€" ing chiefly of first mortgages, Govâ€" ernment bonds and Munijcipal deâ€" bentures. ‘The interest payments have been promptly met, and no part of the item "accrued interest" is overdue. sults, it shall be the Board‘s policy wiso for the future. 572., a gain of about two million over 1923. ‘The total assets,â€"not in cluding premium notes, amount to $1,125,735.48, while the outstanding losses (not mdjusted) show only $8,037.07. amounted to $281,206.41, or about $5000.00 in excess of 1923 premiums. 259 Mercantile THIS ORIGINAI The losses are classified as fol Comtmissions ................. _ 46,119.92 Reinsurance Premiums ....... _ 34,347.16 Rebates and Returned Prem... _ 16,168.40 Mun., Prov. and Federal Taxes 5,113.40 Grant to St. Mary‘s Hospital.. 3,750 .00 Expenses of Managoment .... _ 52,276.25 LIAKBILITIES Unadjusted losses (estimated) $ 10,931.39 Less Reinsurance ............ 2,893.72 Reinsurance Reserve ..... Balance over all Liabilitics J. M. SCULLY, F.C.A. J, A. LAW * Balance ...... ... . . $81,194.58 DOCUMENT IS IN VERY POOR CONXDIT! EXPENDITURES $ 123,857.19 46,119.92 34,347.16 16,168.40 factory ........ 2500.00 1 Carriage factory 2,000.00 1 Cheese factory ........ 1 Larrigan factory 2 Chopping â€" and 2 Furniture an d ~ w 0 o d â€" working factories ...... 4,000.00 1 Stock in â€" shirt There were 19 total claims during the year classified as follows:â€" 8 Hazardous |.............$16,933.33 8 Mercantile ............ . 23,350.00 408 Fhe totlowing is a complete list of the fires arranged under the differâ€" ent causes with totals under each x100 T# USkHOWE ...........4 77 Overheated s t oves, %§ ©DAYKE ...:.scisiiri. 10 Defective chimneys and grates ............ 7 Coal oil and gasoline torches :â€"::iid...s.2 20â€" C areless ness with mitch(n".............. 4 Spontaneous _ combus 37 Lightning ......!..... 2 Tractor explosion .... 8 Gas Jet (rzissssrau‘ss 4 Electric iron ........ 1 Hallowe‘en decoraâ€" short cireuits ....... 16 Explosions, stoves and 49 and warehouse.. 1,500.00 8OR ..+srrerenauvears 1 Candlo _:azsssszviannes 1 Dust collector in mill.. 1 Burning leaves ....... HOUS . .i ssermerasies 1 Moving picture machâ€" Me . ns rrerasysyrasrans 6 Burning wax, grease abd <varnigh .......... 1 Alcobol fumes ....... 7 Smoking ............ 1 Picker ...:.......1... 1 Act of deranged perâ€" ing buildings ........ 9 Defective wiring and W. H. BCHMALZ, Manager. ies M Lr $ _ 8,037.67 ° 128,438.32 $ 136,475.99 1,233,300 .75 â€"â€"â€"â€"$16,933.33 $ 1,394,734.79 $ 281,632.32 1,113,102.47 $1,369,776.74 $123,857.19 s 1,m.asl 1 $125,867.19 $43.783.33 13,460.24 6,439.37 4,980.81 2,389.08 3,439.48 2,431.66 2,316.97 1,687.10 8,947.39 130.00 125.00 22.50 82.69 59.57 25.45 15.54 5.00 I have found it necessary to canâ€" cel a pumber of risks during the year but withal have been. able to retain the confidence and good will of the agents. Respectfully submitted, ‘ $43,783.33 Our losses on lines placed for reâ€" insuring companies were 204 in number amounting to $36,809.16 as against 192 for $29,327.7% during 1923. I have visited most of our agents at least once during the year and a great many of them very oftén and I have yet to x&nd one t?t is not highly pleased with the Assistâ€" ance and courteous treatment m-‘ celved from your Board and Mln-] agement. | thaw even if it does come in Februâ€" ary, as a man said some years ago. He hit the nail on the head this year according to his way of reason: ing, as the people of this district were blessed with a welcome rain. Simeon E. Martin, who moved to near Conestogo lately did not move onto another farm but has been enâ€" gaged by Henry Holle, contractor, of 7 General stores & stocks & dw‘l‘gs. attached _ ...... $21,350.00 1 Barber shop and Awelling .s..sskslcrisss 3 Dwellings budget your correspondent desires during the coming season. ‘That drop in the mercury to 3% below did not occur on Wednesday night and Thursday morning but on very d angerous part of the road ahould prove to be safer. However, of the rosd can be obtained and this The Company‘s Statement as at Dccemb/\ch 31, 1924, shows the followinp:~~â€",_ e "The Waterlioo Trus The Waterloo Trust and Waterloo HAWKEBSVILLE A. H. Devitt, Inspector. Mercantile Isolated ... » â€"$8,500.00 ~â€"â€"â€"~$ 3,500.00 irssrars«s+ss £000,.00 â€"â€"â€"â€"~â€"$23,350.00 Reserve Fund â€"~>>>>.>......0..........â€"$180,000.00 Special Contingent Fund â€".............. 15,000.00 Capital Stock Paidâ€"up â€"â€".................. 750,000.00 Surplus Security to Depositors â€"â€"â€"..â€"..â€"â€"$945,000.00 Cash on hand . Savings Company Funds of the Public left with us at 4 and § per cent. Interest.:.........:..... . $2 § To Depositors of 4 bminion and Provincial Government nd Municipal Bonds, and Loans ured by such Bondsâ€"â€"â€"â€"â€"â€"â€".â€"â€"â€"â€"$1,580,323.44 ortgages on improved City and ese mortgages average less than 50 per cent. of the valuations on the properties) We Operate Under Government ' Supervision "®till, and all Additional Security Stop "dosing" rheumatism. It‘s pain ounly. St. Jacobs Oil will stop any pain, and not one rheumaâ€" tism case in fifty requires internal treatment, Rub soothing, penetratâ€" ing St. Jacobs Oil right on the tenâ€" der spot, and by the time you say Jack Robinson â€"out comes the rnoumatic pain‘and distress. St. Jacobs Oil is a harmless rheuma. tism liniment which never disap. points, and doesn‘t burn the skin, It takes pain, soreness and etiffness from aching joints, muscles and bones; stops eciatica, lumbago, backache and neuralgia. Limber up! Get a small trial bottle of oldâ€"time, honest Bt. Jacobs Oil from any drug store, and in a moment you‘ll be free from pains, aches and stiffnese, Don‘t suffer! Rub rheumatism: away. Often during the past couple of years when driving through the country, we have wondered why some of the names of towns are not spelled correctly on the road signs. For instance, Hawkesville has the m{ddle "e" left out and Conestogo has the last letter changed to an "a.‘" Sifce these signs usually have to do duty for years, this, in the writer‘s opinion, is an important matter, as these signs teach wrong spelling of names. Eilias B. Weber, who has been confined to his bed with pneumonia during the past week, is on the mend again. His friends wish him a speedy recovery. Pain Gone! Rub Sore, Rhenmatic Aching Joints drivers, especialiy of automobile§, 'vhen their turn comes again, should be very careful. Accorditg to tradition we will be in for six weeks of cold weather yet as the groundhop, bear, and all other animals having anything to say in the matter could sport .n the sunshine to their heants‘ conâ€" tent on Monday, February 2nd. Fill up your coal bins and woodâ€" oocasionally to enjoy skating in the rink there. The tocal rink on the Some of the young people of the Kitchener well patronizsed whenever Nurse in attendamee. xÂ¥ $2,879,206 23 wmomien en en en l’IIlkll!lhll?llllfllllllflllllllll'l:’ «n 0i ie n on o0 e Nt in "l"fi.fl; ‘You Can‘t be Optimistic With Misty Optics" Optician 50 Ontario St. Phone 2777w Kitchener Gordon Musselman and Weicker Prompt delivery any part of F the T winâ€"City Walper House, 136,201.10 Dr. Swartz prisingly Kitchener SATURDAY, FEB. 14th Absolutely no pain. Consulâ€" Headquarters for Choice Groceries and Fresh Meats 16 Union St., Waterloo Y4 â€"€ Phone 247 TORONTO LEADING sURGEON CHIROPODIST AND FOOT SPECIAILST Will be at the SEE Galt xt on alf