The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

On Tussday afternoon at a moetâ€" ing of the Kitchener city council it KITCHENER COUNCIL RAEsrGNS t “ Bonds and Debentures at Market Value NMOTLBREES _ ...0ilsssazns cone cnie chanire Loans on Policles .........t.....ssil.; Real Estate ...............2...0...02... Office Equipment ......:200.00.0.0200, ‘Tnsurance Companies‘ Balances ........ Accounts Receivable .................. Agents‘ Balantes .:...02u20scuccluuc00. Due by Sharebolders on Subscriptions Cash on Hand ..............0......2.. Due and Deferred Premiums (Net)..... Accrued Interest ...........2....2.222.. INSURANCES The new policies issued and revived during the year numbered 3,138 for $6,718,245. This is a somewhat smaller amount of insurance than was issued in 1923. The total number of policies in force is 10,976 for a total of $26,092,314. We believe this is a record that We have examired in detail the securities held by your Comâ€" pany for its investments. 'l'hey' are satisfactory and are correctly set forth in such balance sheet. January 31st, 1925 TO THE SHAREHOLDERS OF THE ONTARIO EQUITABLE LIFE AND ACCIDENT INSURANCE COMPANY. Your Directors take pleasure in submitting the Fifth Annual Statement of the affairs of your Company covering the year 1924. and beg to report as follows: . SURPLUS The .gross Surplus Security to Policyholders is $390,110.75. In addition the Company has set aside a reserve of $37,000 for deâ€" preciation on the Head Office Building and office equipment. Other reserves for Claims, Taxes and Accounts amount to $25,636.01. MORTALITY The Death Claims paid during the year amounted to $84,236.26. being 30.169, of the Expected Mortality. INCREASED CAPITAL s During the year, your Directors considered it advisable to issur the balance of the Authorized Capital Stock of the Company in order to allow for a more rapid expansion of your Company‘s business. AGENCY AND HEAD OFFICE STAFFSs During the past year the Company confineg its operations to the same territory as covered in 1923 and it is the intention of the Executive Officers of the Company to further develop the business from the territory a‘ready opened. The entire field force and Head Office staff have discharged their duties to the entire satisfactior of your Directors. NEW INSURANCE During. the year 1924 many Life Insurance companies found it difficult to maintain the records for new business set in previons years, but we are confident that the year 1925 will be a retord one for new business for your Company. During the first month of 1925 the new business received was the largest secured in any January since the organization of the Company. We beg to report that we have audited the books of account and vouchers of your Company for the year ending 31ist December, 1924, and that we have found the same correct. MAIL AND EMPIRE, TOROoNTO In the matter of In@mments. the market value of government and municipal bonds held by the company is now $1,287,321 as against $844,674 a year ago. Legal reserves for the protection of policyholders havs increased from $1,049,703 to $1,379,915. We submit herewith an abstract statement of the business of the Company for such term and a balance sheet showing the assets and iiabilities at the above named date. THE SPECTATOR, NEW YORK prising company, is also president of | [ ce Com of Canada. In presenting its fifth annual statement, feinsuran pats the aboveâ€"named â€" company, located at m n Waterloo, shows handsome increase made THE FINANCIAL POST, TORONTO last year in important items of its state ment. It closed the year 1924 with inâ€" surance in force amounting to $26,092,314, a gain of over $1,250,000. The year‘s operaâ€" ~â€"â€"â€"â€"â€" $ ©675,778 .54 Interest, Profit on Invyestments and other Income...... _ 286,068.08 The total Life Insurance in Force Ne Trolgints .â€"â€".â€".........~>. .: <: :.+. . BBA .14 Less paid for Reingur@Wte .............. 117,533.20 DIRECTORS‘ REPORT AUDITORS‘ REPORT ASSETS to resign in a body in order to exâ€" pedite public business and not press Mortality 30.16% of Expected was decided after some discussion J. SCULLY, J. F. SCULLY, CA PRESS COMMENTS tions resulted in an increase in policy reâ€" serves of over $330,000, the assets having likewise increased by the sum of over $606,000. On December 31, 1924, the com pany had assets of $2,037,895, with a capital and surplus of $390,111, above the policy reserves of $1,379,915 and other labilities. 8. C. Tweed who is president of this enterâ€" prising company, is also president of the Reinsurance Company of Canada. In the matter of investments, the market value of government and municipal bonds held by the company is now $1,287,321 as againat $844,674 a year ago. Legal reserves $2,037,894 .96 $1,287,320.72 181,878 .17 148,428 .06 97,136 .80 32,352 .81 3.158 .89 9,904 .21 4,444.43 79,174.25 58,841.54 108,475.52 26,178 .96 $ 961,846.62 Auditors ballot boxes. The above action was taken on motion of Ald. Bafley, and Ald. Hartung. It is not likely an acclamation will be had as all the The Ontario Equitable is the principal Canadian company that confines its business entirely to Guaranteed Low Cost Insurance This form of insurance is continuing to prove more popular and the agents of the Company have found no serious difficulty in meeting the competition of the older companies in the field. The Company now has thirty general agents and in all about 250 agents. Many of these agents only devote a part of their time to Life Insurance and since January lst, the Agency Officers of the Company have been making a special effort to bring up the production of each individual agent. These efforts have resulted in the producâ€" tion of over One Million of new business in January. We anticipate the securing of between Ten and Tweive Million of new business during 1925. Our report for the year 1924 is remarkable for the large increase in Assets and Capital and Surplus. While the amount of cur Insurance secured during the past yea: was somewhat less than the amount secured in 1923, the number of policies issued was almost as large as in the previous yearâ€"the falling off in business being due largely to the fact that the average policy was for a smaller amount than in 1923. f The vetiring Directors are:â€"Messrs. S. C. Tweed, A. Bauer, E. C. Mitchell, J. A. Martin, J. C. Breithaupt, W. E. Long, Senator H. W. Laird, Edwin Erwin, Hon. M. W. Doherty, Hon. F. C. Biggs. A. E. Silverwood, Jas. Valentine, A. W. Briggs, A. M. Featherston and W. K Payneâ€"â€"all of whom are oligihle for dacsdaAbinn The Company now has some 1.700 Shareholders and these Shareâ€" holders have been of considerable assistance to our agents in the production of new basiness. The adoption of the tpport was seconded by Senator Laird of Regina who was followed h} other speakers who analyzed various parts of the statements submitted and reviewed the excellent proâ€" gress the Company had made anid the very satisfactory and sound position in which it found itself. Among the speakerg were Messrs. E. C. Mitchell, London; W K. Payne, KC., Red Deer; W. H. Barnum, Aylmer; Hon: M. W Doherty, Toronto; Messrs. A. M. Featherston, Toronto; J. C. Haight K.C.. Waterloo: L. Swartz, Hamilton; > Hon. F. C. Biggs, Flamboro; and â€"Messrs. E. Irwin and L. M. Bidwell, Waterloo. The books of the Company have been andited regularly throughâ€" Out the year by Messrs. J. and J. F. Scully and their certificate is submitted herewith. Also the certificate of the Committee of the Board of Directors who were appointed to check the securities. The repwrt of the Actuary and Medical Director are also submitted. Building and Equipment ................ Reserve for Unpaid Claims, Taxes and Accounts Other Reserv@s oâ€"=2.0summmmmma se rrrieviena aie ie k +s CSpPIAL SIOGEK ssnuugerare y eon t Senlvraarrapiee pene Surplus (N@t) 2......2222222222222222200 220000000 Investment Account .............. Balance due on Bonds ............ Staff Savings Fund ............... Supplementary Contracts =........ Bank Overdrawn Account ......... Policy Reserves .............022.. Reserve for Depreciction on Office Paidâ€"up Capital Surplus Surplus Security to Policyholders Disability, Sickness and Accident Claims .............. Matured Endowments and Cash Surrender Values....,.. Head Office Rent, Salary and Travelling Expenses...... Agency Rent, Salary and Travelling Expenses.......... Advertising, Printing and Postage ..................... Provincial, Federal and Municipal Taxes ............... Directors‘ Fees, Auditors‘ Fees, etc. ... ................ Light, Heat and Fuel, Office Supplies, Tcl. and Telegraph Medical Feés and Inspection Fees ...................... Other Expenses .............2..0..5.222..2.222222222.. Excess Income over Disbursements .................... The President‘s Remarks At The Fifth Annual Meeting, Held at The Head Office Waterioo, Monday, February 9th. Payne,â€"â€"all of whom are vligible for reâ€"election EXCESS OF ASSETS OVER LIABILITIES RETIRING DIRECTORS AUDITORS‘ REPORT As assets at the end of 1923 were $1.431,605.18 and the 1923 income was $555,079.40, the progress made in l”’ is undoubtedly very gratifying to the comâ€" pany‘s . policyholders and _ stockholders; also it is fine testimony to the adminisâ€" ‘trative and underwriting ability of Presi dent 3. C. Tweed. DISBURSEMENTS for the protection of policyholders have in creased from $1,049,703 to $1,379,915. These figures show a strengthening of the company‘s position at the end of a five year period of rapid expansion. THE INSURANCE PRESS, NEW YORK LIABILITiES present members as well as four defeated candidates have signified their intention to enter the contest on Feb. 28th. $26,092,314 & 1/ do s 51 s n e uon t r‘% ie # 5 «.. . â€" $ 160,834.72 ..... _ $4,286.26 9,914.65 +4« * ~$,999.96 53,144. 26 12... _ .88,573.30 dawes 31,408 .08 essm 711,165.81 2,444.75 graph 4,612 .16 sp 32 9,507 .64 14,874.70 ‘+«+ â€" §11,109.84 $2,037,894 .96 $ 200,000.00 190,110.75 $ 390,110.75 $ 165,000 .00 24,250 .00 1,513.06 7,595 .00 6,875 .14 1,$79,915 .00 $ 961,846.62 37,000 .00 13,000 .00 12,636 .01 200,000 . 00 190,110 . 7F Benjamin Brubacher ‘ Death suddenly called Benjamin M. Brubacher, who passed away at‘ his home at 132 West Erb St.. Wat-‘ erloo, on Tuesday morning. He was seized with an attack of heart fail ure on Tuesday morning and exâ€" pired fifteen minutes later. Deceased who was aged 64 years was well known in Waterloo and district. Previous to moving to Waterloo many years ago he conducted a sucâ€" cessful farm two miles north of Watâ€" erloo. He was unmarried. There survive his stepmother, Mrs. Johr E. Brubacher, Waterloo, two brothers and four sisters, Martin of Gardner, Kansas, Noah of Wate: loo, Mrs. David Martin, St. Jacobs, Mrs. Samuel S. Snider, Mrs. O. . Martin and Hariett, all of Waterloo: The funeral will take place from the late residence on Friday afterâ€" noon. Mrs. Noah Hunsberger [ Friends and â€" relatives â€" learned with deep regret of the passing of Mary Ann Shantz, beloved wife of Noah Hunsberger, of near Lexingâ€" ton, which occurred on Friday, Feb. 6th at the Kitchenerâ€"Waterloo Hospital. Deceased, who was a SURPLUS The gross Surplus security to policyholders is $240.923.11, and the net Surplus over all Liabilities and Paidâ€"up Capital is $115,923.11, being an increase for the year of $7.621.18. TO THE SHARRHOLDERS OF THE REINSURANCE COMPANY OF CANADA Your diréttors take pleasure in submitting the statrment of your Company‘s operations for the year ending December 31st, 1924, and beg to report as follows: + * dend for the last six months of 1924, The divid was at the rate of six per cent. per annum. We submit herewith a statement of Receipts and Disâ€" bursements, an abstract statement ‘of the business of the Company for such term and a Balance Sheet showing the Assets and Liubilitics as at 31st December, 1924. We have examined in detail the securities held by your Company for its investments. They are satisfactory and are correctly set forth in the Balance Sheet. We beg to report that we have audited the books of necount and vouchers of your Company from the date of incorporation in May, 1922, to 31st December, 1924, and that we have found the same correct. INSURANCES During 1924 reinsurance policies were issued to other companies for a total of $1,183,318, bringing our tota! Insurance in Force up to $3.255,882. The investments of the Company are highâ€" grade, consisting almost entirely of Government and Municipal bonds, on which the average rate of inâ€" terest earned for the year was 6.14 per cent. LIABILITIES Including Policy Reserves, Paidâ€"Up Capital and a Reserve for the Dividend payable January 15, 1925, the total Liabilities amount to $176,794.39. DIVIDENDS In July, 1924, the Company paid a Dividend to Shareholders for the six months ending Junc 30th, and provision has been made in the statement ____ AssETs Bonds and Debentures at Market Value..$263,762.17 Pffice Equipment ....................... â€" 312%1.78 Accounts Receivable .................... _ 1,286.68 Cash on Hand and in Bank ............. 14,885.80 Acciued Interest ........................ â€" 2,980.85 Due and Deferred Premiums (Net)...... _ 6,680.22 _ Disbursements forA?seE);eslr totalled $53,792.53. PRESIDENT,S REMARKS The Company‘s total Assets amount to $292,â€" As anticipated in my remarks last year, the T17.50. position of the Company was such that last June The investments of the Company are highâ€" the Directors were able to declare a half yearly grade, consisting almost entirely of Government and PiYvidend of 3q, followed by a second Dividend Municipal bonds, on which the average rate of in 0°Cared last December, making 6% for the year‘s terest earned for the year was 614 per cent operations. J. SCULLY January 31st, 192%. J. F. SCULLY, C.A.) Auditors ) After Every Meal in addition to making pmvifilon for these two The income for Less Puid for Reinsurance.. 5,889.02 Pass it around after every meal. Give the family the benefit of its DIRECTORS‘ REPORT OBITUARY. PSG AUDITOR‘S REPORT INCOME for the year amounted to $81,153.84 DiSBURSEMENTS li'a 15, 1925, of a similar Diviâ€" daughter of the late Mr. and Mrs. Nettie Zuelsdorf, who has been ill John D. Shantz, was born near for the past two weeks, is slight1y Baden in 1881 and was in her 44th improved. year. In 1905 she was married to _ A large number of young people Noah ‘Hunsberger, who together from around hereâ€" atterded the with two sons survive, one daughâ€" dance held last Thursday evening in ter, aged four years, having predeâ€" Jackson‘s Hall, Elmira, ceased her; there also survive two on on rrerrrrnnian. ns brothers, Ezra, near Baden and Mrs. J. H. Ziegler of Waterloo Tobias of Waterloo, and two sisters, was the hostess of a much enjoyed Sarah (Mrs. Geo. S. Weber) of Kits entertainment last Wednesday atâ€" chener and Elizabeth (Mrs. Solo. ternoon, when after high tea had mon 8. Gehman) of Sherkston. been served, the guests played five Ontario. * _ hundred, the fortunate prizeâ€"winners The funeral took place on Monâ€" being Mrs. A. Wagner, Mrs. J. Stelâ€" day afternoon to the «Mennonite ler, Miss Sturm and Miss Henry. The funeral took place on Monâ€" day afternoon to the «Mennonite church for service thence to the Eby cemetery west of Waterloo for interment. A quiet but pretty wedding was solemnized last Wednesday, Feb. 4, at the home of Mr. and Mrs. Geo F. Mackie, when their daughter, Lillian, was united in marriage to Mr. Peter Simpson of Guelph, The ceremony took place at high noou“ in the midst of a few relatives and friends, the nuptJal knot being tied by Rev. Mr. Bartlett of Winterâ€" bourne. The bride was attended by her sister, Miss Emma Mackie, while the groom was supported by Mr. Robert Morrell of Ariss. The wedâ€" ding march was played by Miss Marforie Sutton of Guelph. After the ceremony a sumptuous dinnes was partaken of after which the happy couple left on a short honeyâ€" moon trip. On their return they ‘wm make their home in Flint, Mich. All join in wishing them many long, lthDy and prosperous years of wed: ded life. Mr. Arthur Lee of Kitchene; spent Sunday at the home of Mr. and Mrs. Jas. Langdon. Mre. Esra Dumart and son Lorne of Kitchener visited for a few days with her mother, Mrs. Dave Letson. Rev. and Mrs. Bruce of Nairn spent a few days last week at tha home of Mrs. Jas. Hamilton. Miss Annie Beits of Kitchener is spending this week with her sister, Mrs. Paul Kurts and will leave on Baturday for Detroit. We are glad to report that Miss Misses Blanche Millard and Mary Forbes of Kitchener spent Sunday at their homes here. $ §1,158.84 $292,717.50 WINTERBOURNE vidend 1211 Due to business conditions large policies were not as numerous in 1924 as in previous years, and companies did not have as large a volume of reâ€" insurance to offer. From indications, we are, howâ€" ever, anticipating an increase in New Business for 1928 The retiring Directors are as follows: Messrs. S. C. Tweed, M. J. Smith, A. J. Huenergard, E. C. Mitchell, H. G. Bertram, J. A. Martin, Dr. W. L. Hilliard, L. Swartz, J. M. Riddell, J. C. Breithaupt, Edvin Irwin, Senator H. W. Laird, Hon. F. C. Biggs, Aloyes Bauer, Hon. Manning W. Doherty, all of whom are eligible for reâ€"election. Tâ€"Wâ€"Laird Messrs, J. A. Martin, J. C. Breithaupt, M. J. Smith, E. C. Mitchell, J. C. Haight K.C;, ant Hon F. C. Biggs. Interest, Discount, Exchange & etc., m sed ReBt ... 4........ Dividends to Shareholders ....... .. The outstanding features of our report to which I call your attention as evidence of our strong position, are the large Surplus and the substantial character of the Company‘s Investments. Our morâ€" ‘clity for the year was only 32.24¢, of the expected. Claims (Death, Accident and Sickness) ... Balaries, Auditors‘ Fees & Directors‘ Fees Advertising, Printing, Stationery, Pmsurance Companies Balances.......... 164.39 Reserve for Unpaid Claims and Accounts 900.00 Reserve for Dividend payable Jan. 15. 1925 â€" 3,750.00 Capital Stock ..............2...2222.22.. 125,000.00 Burples (Net) ..:.â€"si,20.22022222.2..2.... 115,923.11 EXCESS OF ASSETS OvER LIABILITIES Paidâ€"up Capital innmosrenses sns s +254 +$199,000,00 BUPDIU® ...2.22 22222222 2lllllll lc luull, 115,023.11 Life Insurance in Force Dividends$, the Company increased its Burplus ing 1924 by $7,621.18. with Surplus Security Drker Keposuass .â€"â€".:;.;.â€".â€"..â€".:+~â€"s â€" SADDKk Excess Income over Disbursements ..... 21,361.31 Policy AUDITORS‘ REPORT The report of the Auditors is submitted here Following Mr. Tweed‘s motion for the adoption Mortality 32.240%, of Expected RETIRING DIRECTORS A large number of young people from around here. atterded the dance held last Thursday evening in Jackson‘s Hall, Elmira. Premier Gordon Lapp, who came, saw and conquered the Twinâ€"City last week, was the guest of Premier Ed. Devitt at his home in Waterloo, during his stay in town. LIABILITIES JANSEN OPTICAL CO. 10 Frederick St. Telephone 853 Kitchener ‘‘that‘s something like it WHEN you first wear our glasses you will be pleasâ€" antly surprised at the clearness 3f your vision. It will seem like the greatest gift in your life. "You cannot realize the wonderful joy of seeing properly again until you ; get the Glasses . you Home Furnishings WE SELL FOR LESS LIPPERT‘ S 346 King St. W., KITCHENER BUY AT $ $1,153.84 $292,717.50 $240,923.11 $ 46,980.00 dur $\