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Published every Thureday®by David Bean & Sons, Ltd., “flrwmwmhm«nm Writing the largest amount of new busiâ€"|in excess of that paid during the previous year, ness in its history which was accomplished |amounting to the total of $1,619,729.39 while without increasing the cost in any way but in |the ratio of the actual to the expected cost of fact at a lower general expense, as well As|mortality was favorable and lower than that exâ€" making notable and most encouraging progress | perienced the previous year. in the other departments of its activities, The The assets of the company, which have Mutual Life Assurance Company of Canada at|grown to the large total of $22,223,899.24 and the end of the year 1928 concluded another| which increased by the very substantial amount twelve months of a most gratifying and satisâ€"|of $3,333,615.37, indicate the strength of the factory character. Its experience in every reâ€"\company‘s financial position while another spect was an eminently favorable one, further | satisfactory feature of the net investable assets markedly enhancing its high standing and|is the fact that they continue to earn a high prestige as one of the foremost life insurance|interest rate which last year was 6.99‘i. companies of the Dominion of Canada. The total reserves were increased to the Among the outstanding features which distinguished the reports presented at the fiftyâ€"ninth annual meeting held at its head office in Waterloo last week, were a net inâ€" crease of assurances in force of $36,082,972, surplus earnings of nearly five millions which enabled the company to pay a special extra cash dividend of seven hundred thousand dolâ€" lars to its policyholders, in addition to its regular large distribution, the continuance of a favorable mortality experience, a low rate of lapsation and a still more favorable expense ratio of 14.27‘%% of income as compared with 14.44% in the previous year, reflecting the downward trend in this respect. Maintaining its record of uninterrupted | result that under his capable management the|in its history, the very satisfactory results of progress which during the past decade especial. | insurdnce in force has increased nearly fivefold. |the year being evident in the net profit of $104,â€" ly has been attended by marked and rapid it is eminently fitting that a son of the |967.42 earned. ~ growth, The Dominion Life Assurance Comâ€"|late Christian Kumpf, a former president and Every department of *ts business showed pany in the year ended December 31st, 1928, one‘of the founders of the company, should|gains of a substantial character. ‘The comâ€" ascomplished new objectives and exceéded the whvod the presideficy of the Dominion |pany‘s guaranteed funds, deposits and general figures of the previous twelve months by sulb=]L he has assuredly well earned the disâ€"|investment receipts showed an increase of nearâ€" stantial margins, enabling it to present a most|tinction. He commands in an unusual degree|ly $1,000,000 and now stand at $6,873,799. An /Mmgmmdmfinmmfldmo{mma increasing volume of security sales has been The outstanding success which has attendâ€" ed the conduct of The Mutual Life Assurance Company of Canada, still the only Canadian Mutual Company, confirms to the fullest extent the belief of its founders that the business could, as the first viceâ€"president, Mr. McCulloch, pointed out in his address, be efficiently and scientifically conducted on a sound and profitâ€" able basis without private capital, its continualâ€" ly successful operation demonstrating that this faith was well founded. Assets at the end of 1928 stood at nearly one hundred million dollars, the increase during the year being close to nine million dollars, indiâ€" cating the solidity and strength of the comâ€" pany‘s position. Increased payments were also made to policyholders and beneficiaries, these totalling nearly ten million dollars, representing an inâ€" crease of close to a nmiillion and half dollars. For some years careful consideration has been given to the desirability of widening its scope of operations by entering the United States field. The annual meeting endorsed the recommendation of the. Board of Directors to seek a license to transact business in the state of New York where there is a prospect of exâ€" pansion without increasing costs and without exposing funds to precarious investments but rather to give them added strength, the view being held that the expansion will widen the legitimate work of the company with advanâ€" tage to its policyholders. The highly gratifying nature of the year‘s reports of this outstandingly successful Canaâ€" dian life insurance company will be a matter of strong satisfaction to its rapidlyâ€"growing circle of policyholders a 1d reflects the conservaâ€" tive yet progressive and able management which has always characterized Canada‘s only Mutual in the life insurance field. Those associâ€" ated with the conduct of its affairs are to be heartily congratuilated on the notable results of the year‘s operations. ed in 1913, the present head office buildings, although of generous dimensions, soon proved inadequate and an addition was built and dpened in 1921. This in turn failed to provide the accommodation required so rapid has been the expansion of the company, necessitating the erection of the addition just completed which is the first unit of the ultimate building program designed to cover requirements for many years to come. The total floor space now comprises nearly one hundred thousand square feet which now accommodates a staff of over two hundred and fifty as compared with thirtyâ€" nine when the original building was opened. A volume of Susiness now aggregating $422,795,â€" 453 is now transacted by the Mutual Life which last year had a total income of $22,223,224.22. * _ Occupancy of the new addition erected in 1928 and completed during theâ€"latter part of the year, again directed attention to the rapid development and growth of the company. Openâ€" One year, in advance in United States, per year ................. _ ADVERTIBING RATES MUTUAL LIFE ESTABLISHES NEW | RECORDS FOR YEAR | DOMINION LIFE ATTAINS NEw OBJECTIVES xÂ¥+% position with the brightest prospects ‘for anâ€" other twelve months of expansion and growth in, keeping with the past records of this excelâ€" lentlyâ€"managed institution. The annual reports disclose the fact th&t| rownship of Wellesiey met, pursu the mvz;nes in force were increased by ml,:?”u»:'mfl'?'r.“?.-"“w! substantial amount of $17,729,486 and now |SPY (AoRS‘TL Y°Résy the 45 dat stand at the large amount of $125,093,985 while forencon. the cash premium income shows a correspondâ€" u:.'" :‘: ing advance of $656,584.02, the cash incomeled. The : from premiums reaching a total of $4,185,â€" 989.78 for the year. $526,050.16 represented the increase in the income from interest, rents and other sources, which totalled $1,562,934.72. Payments to policyholders were $276,849.64 in excess of that paid during the previous year, amounting to the total of $1,619,729.39 while the ratio of the actual to the expected cost of mortality was favorable and lower than that exâ€" The total reserves were increased to the important sum of $15,915,918, exceeding the previous year‘s reserves by $2,350,114. The statement also shows that after making proâ€" vision for all liabilities, and after paying out during the year $668,491.06 in the form of diviâ€" dends to policyholders, the surplus fund stood at $2,097,283.72 at the end of the year. The figures presented in the statements submitted at the annual meeting last week show unabated progress. They reflect vigorous and capable management and the sound policies which govern the conduct of this promâ€" ising and rapidlyâ€"growing institution. It enters the ensuing twelve months with the brightest of prospects for another year of abounding prosperity. s Mr. Kumpf was the logical choice for the position and his appointment will be received with much satisfaction by all those interested in the company. He has played an increasingly important part in the conduct of its affairs, especially within recent years, and has displayâ€" ed qualities of leadership which have been reâ€" sponsible in large degree for the marked proâ€" gress made within the past ten years. He has proven himself indefatigable in his efforts to forward the interests of the company with the result that under his capable management the insurdnce in force has increased nearly fivefold. With the retirement of Mr. Thomas Hilliard from the presidency of the Dominion Life, the mantle of this important office has fallen upon the viceâ€"president and managingâ€" director of the company, Mr. Ford S. Kumpf. The Dominion Life Assurance Company, the foundations of which have been so well and truly laid, will ever be associated with the name of Thomas Hilliard, which has been prominentâ€" ly before the public for many years. His up rightness of character, probity and fine appreâ€" ciation of the highest ideals of citizenship which he has exemplified in his own life, no less than his intimate knowledge of life insurâ€" ance in connection with which he has been a recognized leader, have all combined to enhance the standing and prestige of the Dominion Life. It will be the earnest hope of a legion of friends both in this community and throughâ€" out the province and Dominion that he may continue to enjoy the vigor of body and intellect which have always characterized him and that his days may be long in the land. The announcement of the retirement of Mr. Thomas Hilliard from the presidency of the Dominion Life Assurance Company of which he was the founder, made at the annual meeting of the company last week, elicited exâ€" pressions of genuine regard and sincere apâ€" preciation of his admirable qualities, both of heart and mifnd. In his 88th year, it is not surprising that he should have asked to be reâ€" lieved of the responsibilities of the position which he has filled for nearly a quarter of a century with singular distinction and ability, in order to enjoy a wellâ€"earned respite from the cares at office, although, happily, he will continue to be identified with the company as a member of the Board of Directors. It is appropriate and fitting to recall at this time that it was mainly through the efforts of Mr. Hilliard that the Dominion Life, which has risen to the front ranks of the life insurâ€" ance companies of Canada, was founded in the year 1888. He has lived to see it prosper in increasing measure with the passing of the years until it has reached the proud position it occupies toâ€"day. | FORD S. KUMPF, THE NEW PRESIDENT | VETERAN DOMINION LIFE PRESIDENT RETIRES 8t Communications, bills and acâ€" counts, also a request from the Waâ€" terlop County Axrlenlturpl Represenâ€" tative, Galt, that this Council appoint a mentrber to the Advisory Agricuiturâ€" al Council for a term of two years, Mr. Ed. Kaufman wgs reappointed. Resoilution :â€" | Move] ‘by P. A. Wagner, sec‘d by. L. Baechler that whereas the burden of taxstion has become wo heavy on account of 20% payable to the Onâ€" tario Government by the County for the construction and maintenance of Provincial Highways, and â€" whereas on account of this taxation it is imâ€" possible for Township Councils to still further tax their ratepayers for the purpose of constructing and maintaining Township roads, and whereas the Township Councils do not receive any grant or subsidy from the Government unless | the ‘To\\'fl-shlm do coustruct Township roads, and whereas the Township roads are ‘becoming almost impassâ€" ible, thereby â€" decreasing | property values and increasing te movement of the country people to the cities, we, the members of the Township of Wellesley, do hereby petition the Om.gio Government _ through . the "Onlario Townships Roads Associaâ€" tion" to not adopt any more Proâ€" vincial Highways through the Counâ€" ties, unless the Governments . are prepared to pay the full cost of conâ€" struction and maintenance | of the the same.â€"Carried. ‘Byâ€"Laws: : Proposed by P. A. Wagner and L. + Baechler that Byâ€"Law number...... to authorize the Head and Treasurer of the Township of Wellesley to borrow certain sunis of money from the |~ ° Canadian Bank of Commerce to meet the now currept expenditure of the [ said Corporation be read a first and 1 sgcond time.â€"Carried. t Moved by P. A. Wagner, sec‘d by W. Freeman that Byâ€"Law number...... to provide for expenditure on Townâ€" ship roads, in the Township of Wel lesley, during the year 1929, be now "read a first and second time.â€"â€"Carâ€" ried. The high honor which has come to Mr. {umpf is a wellâ€"merited one and he will be accorded the heartiest congratulations of his friends, not only within the organization which he has served so well but throughout the provâ€" inces of the Dominion where he is also popular among a host of acquaintances by reason of his genial personality. _ Among the successful financial institutions of which this community is justly proud is The Waterloo Trust and Savings Company, founded seventeen years ago. From its initial year it has prospered until toâ€"day it is one of the outstanding companies of its kind in the province, with fifteen thousand clients.and with total assets of $9,003,539.08. In the past twelve months ending Decemâ€" ber 31st, 1928, has been recorded the best year in its history, the very satisfactory results of the year being evident in the net profit of $104,â€" 967.42 earned. 8 Payment of Bills and Accounts Proposed by P. A. Wagner and G. J. Voll that the Reeve instruct the Treasurer to issue cheques in payâ€" ment of the following amounts: Moved by P.A. Wagner, sec‘d by I. Rrccbler that council resume in commitice am revisicn of the Brenâ€" ner drain. Mr. Knight in tha chair. â€"Carriedd. * The several changes in the assess ments made by the eugineer were read 1> the members anmi as there were no further appeals it was moved by L. Bacchier, seconded by W. Preeâ€" man that this court do now adjourn and thai the assessmenis in ftotn as revised are hereby sustained and adopred.â€"â€"Carried. Moved by W. H. Knight, sec‘d by L. Baechler that council form into a committee of the whole on Byâ€"Laws 938 and 939 and that P. A. Wagner be chairman.â€"Carried. The Municipal World, their acâ€" count. $6.00; H. W. Kaufman, printâ€" ing account, 5.75; J. J. Gillfland, work on road 28, 1.20; Noah Jantzie, work on road 11, 2.20; E. J. Dietrich, work on road 14, 11.93; H. Doherty. salary, 25.00. Total $53.08.â€"Carried. Resolution: ' Proposed by P. A. Wagner and L. Baechler that the Munnicipal Council of the Township of Wellesley hereby instruct C. D. Powman, O.L.S., Townâ€" ship Engiress. to pmroceed with the revair of the Birmingham drain. unâ€" der sections 75 and 77, Chap. 198, of lhe Municipal Prainage Act, to preâ€" pare ~report.â€" ans. profite, assessâ€" Byâ€"Law No. 938 to borrow money, the sum of forty thousand dolars was written in said Byâ€"Law. the organization who have caught the spirit of enthusiasm and desire to achieve, which have characterized the managingâ€"director, all of which has combined to place the Dominion Life in the fine position it finds itself in at the end of forty years of business. pars ~report,â€" pans. profite, assessâ€" mints. ¢stimates and soecifications necessary for ibe repair, improve mert or otherwise of said drain.â€" Carred. Court of Revision, Brenner Drain 2 o‘clock p.m. > Byâ€"Law No. 939 to provide for exâ€" penditure on Township roads, the | _ PROSPEROUS YEAR ENJOYED BY [ WATERLOO TRUST Clements. after that date all unpaid assessments Wwill be entered on the coflector‘s rolls.â€"Carried. Moved by P. A. Wagner, sec‘d ‘by[ Mrs. Wim. Guise visited with her G. J. Voll that this Council 40 nOW |rriend, Mrs. S. Stauffer, of near Glenâ€" adjourn to meet again at the Townâ€" L;llen ship Hall, Crosshill, Monday, the 4th & > . day of March, 1929, at the hour of 10 _ A number from here spent a very following amounts were inserted in o‘clock in the forenoon. â€"Carried. said Byâ€"Law, that is to say:â€" {St. Olements, Feb. Tth, 1929. For road construction ........$ 5,000.00 I Peter F. Schumméer, Tp. Clerk Bridge construction ... 10,000.00 | iwuity ' MACHIN@FY ssm til ecccicaes 800.00 ; & _â€"_â€"â€"â€"_â€"â€"_â€"â€"â€"â€"â€"_â€"_â€"_._.â€"_â€"â€" $ Maintenance and repair...... 12,000.00 DORKING Superintendence .................. _ 800.00 “L â€" a Proposed by L. Baechler and W. Freeman that the Clerk is hereby inâ€" structed to advertise in the Stratford Weekly Herold and in the News Reâ€" cord, Kitchener, "asking for tenders for the construction and completion of the George Brenner Repair Drain, according to the Engineer‘s| Profile. Plan and specifications, such tenders® to be opened at Crosshill, the 4th day of March, 1929, at the hour of 2 o‘clock in the afternoon."â€" Carried. Treasurers‘ Monthly Financial Statement Book balance .......:.... Outstanding accounts Moved by G. J. Voll, seconded byi Mr. (Marry Holt of Glenallen spent L. Baechler, that all parties assessed‘s fow days of last week with in the Brenner repair drain, wishing iriend the 1j :o pay their assessments before the, ""‘°"4° °" the Line. â€" ‘ssue of debentures are requested to| Several of the young people from do so. on or before the first day of here attended the dance and card June, 1929, at the Clerk‘s office, St.(party at the home of Mr. and Mrs. $1633.88 Balance Nova Scotia Bank....$ 700.16 " _ Canadian Bank of Commerce ... 9$33.172 L POVAE mmz m $28,0600.00 Moved by P. A. Wagner, seconded by W. Freeman that Committee reâ€" sume in open council and that Byâ€" Laws 938 and 939, as filled in, be cow read a third time and finally passed.â€"Carried. & Would You Build A House _ Without A Roof? THE BELL TELEPHONE l As the managingâ€"director pointed out, the icompany has from the outset adhered to a line of investment policy which has established the ‘utmost safety of the several millions entrusted to its care. The reserve account has now reachâ€" ed the large amount of $300,000 while over and above the money that has been invested for the clients of the company there is a further amount of over $1,000,000 back of the investâ€" ment of depositors‘ money &s extra security for these deposits. With the attainment of a paidâ€"up capital of $1,000,000 through the issuâ€" ance of additional shares, the Waterloo Trust will rank as one of the few Trust Companies having a paidâ€"up capital of this amount or over. All investments are closely scrutinized by the government. The growing confidence of the public in this spendidlyâ€"managed and solidlyâ€"established financial institution is to be seen in the ever increasingy amount of funds entrusted to iits care. Those in charge of its affairs have every reason to be gratified with the results attained as have also the shareholders, depositors and investors. The fine record of progress of the Waterloo Trust compares most favorably with that of other leading companies of its kind in the province and Dominion. effected through the department in charge of them, while the estates department has shown a most satisfactory growth, the company actâ€" ing as Executors and Administrators of an inâ€" creasing number of estates. The increase in this department amounted to $432,239.63, the Estates and Trusts remaining in the company‘s hands at the end of the year being shown as $1,546,218.83. â€" You won‘t start to build a house unless you know you can finish it. ‘The Bell Telephone Company tries to be equally The company does not need all its $75,000,000 of new capital now but will spread its issue over years to come. But it does need the assurance that, when equipment is started now for fuâ€" ture telephones, money can be obtained to finish the job. $1069.51 â€" 564.37 $1633.88 By 1934 Ontario and Quebec will need a million telephones. These telephones cannot be ready unless central exchanges and other equipment are started now, @4 â€" Mr. and Mre. S. L. Schedewitz and daughter Reta spent Monday evening in Elmira. Several of the farmers from here attended the monthly fair at Elmira last Monday. ~ Mr. and Mrs. Richard Pgram and daughter, Miss Ethel, spent Sunday with Mr. and Mrs. H. Newton. Mr. Michael Logel was a business visitor in Linwoo‘ last Wednesday night. Mr. Carl Mewhinney left for Vineâ€" land last Wednesday. Mr. Mewhinâ€" ney intends to be away for the sumâ€" mer months. Mr. and Mrs. Thos. Hackett of Linwood spent last Friday with Mrs. William Allingham. Herb Cassel last Friday night report a good time. . The usual number of farmers spent Monday in Elmira attending the February fair. YATTON COMPANY OF CANADA All enjoyable evening last week at the home of Mr. N. Schlegel, of Glenâ€" allen. The evening was spent in dancing and all report a good time. Mr. Israel Martin is quite busy hauling gravel and purposes making improvements to his farm this sumâ€" Mrs. Henry Schedewitz and family spent a day last week visiting Mrs. S. L. Schedewitz. mer AMr. Martin Metzger and Miss Vioâ€" let Metzzer spent Thursday evening at the home of Mr. S. L. Schedewits. \rs. Leslie Steenson and daughter Bernice of Winfield spent Tuesday with relatives at Yatton. Mr. Leslie Noecker is spending some time with his mother, Mrs. H. Noecker." M Â¥: Miss Daisy Rutherford is ill at her home. We wish her a speedy reâ€" covery. Mr. Wm. Guises and Mr. George Steenson were business visitors in Moorefield on Wednesday. Mr. and Mrs. Chris. Martin and Benjamin Martin were guests of Mr. Henry Metzger on the occasion of his birthday. Mr. A. W. Ruler spent Monday in Drayton. Mr.. Martin Metzger spent Saturâ€" day evening in Elmira. You know the fuli: when your truss doesn‘t you, so why be in misery and suffer. Prevent yourâ€" self from torture and get a trusses have no understrap. 1@ Mancion 81. Kitshoner, Oné Ab&hrlaiemi:koim’ 16e suitable for any kind of Passports and Licenses finished same day. ' Special Leatherette Folder and 4 x 6 Photo, one dozen for RUPTURE Phone 2777W. B0 Ontarie &. DENTON STUDIO PHOTOGRAPHS LIVE FOREVER 163 King St. W., Upstairs Phones 2592 and 2750) KITCHENER Unxamination Free. L + Wis ORDON‘S OOD LASSES Expert at