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esee. : > -â€"â€":* E fisfl of President, Ford S. Kumpf Business Written And In Force ... Assyrances.â€"The new assurances fesued in the year, including revivals and bonus additions, amounted to $28,495,861. The totay assurances in force now stand at $137,474,551. *az$"Premium Income.â€"The cash inâ€" come from premiums was $4,353,995.â€" 01, being $168,005.23 in excess of the premium income for 1928. h..mmotnfi.- faction with the achieveâ€" mu«&no-.ii-u‘:wom mocc-r‘ly aterloo perâ€" vaded the fortyâ€"first ual awflm ers held at its Head Office on Friâ€" ers held at its Head Office on Friâ€" day afternoon, which was evidenced by the enthusiastic reception acâ€" corded the various reports and the commendatory nnnl:: of those who addressed the meeting. The Viceâ€"President, George A. Dobbie, acted as chairman of the meeting in the absence of the Presiâ€" dent and lnfi:‘-l)imur. Mr. Ford S. Kumpf, was confined to his home as a result of injuries susâ€" tained in a recent accident. There was a I:z- attendance of shareâ€" bolders prominent nfmn,u- tives from various parts of Canada, and during the course of the meetâ€" H‘m'tflbm was ld force of the Com field force of the Comm for the splendid increase in ness obâ€" tained for the c::rny last year. Mr. A. N. McTavish, actuary, and C a D T»'.i&.;.?sgfiaai.am 0 hgcnczu, spoke in ng terms of the fine work done fl;.lu agency force of the Dominion Life throughâ€" _.‘The Directors‘ Report presented recorded a year of expansion unsurâ€" passed in the company‘s history. In out the year. all departments of its business mmpnetrell was made as shown by the figures for the past twelve months. THE DIRECTOR‘S REPORT To The Policyholders and Shareholders of The Dominion Life Assurance Company ‘The Directors have pleasure in presenting their report for the year ended December 31, 1929. Other Income.â€"The income from interest, rents and other sources was $1,741,920.91, ‘being an increase for the year of $178.986.19. __ Payments to Policyholders.â€"The cash paid out for claims arising out of the Company‘s policies by death, disapilities, matured endowments, Shows Substantial Increase; wmw&m The Dominion Life Assurance Company Mortgages. first liens. principal and charges..$11,207,446.89 OWR PONeWSB ........sumssmmmmemenmmcrmes 2,6280,0B5.47 Cash on hand at Head and Branch Offices.. 65,463.64 curities and Municipal and other Bonds 8,007,406.30 Real Estate, including Head Office Premises 507.622.96 Loans to Policyholders on the Company‘s Interest due on investments ......$114,221.38 Inmterest accrued on investments 318,852.34 For Good Work Done. Profit on Sales of real estate and securities Ford 8. Kump{, President and Managing Director. J. K. Pickett, Assistant Manager and Secretary. To the Policyhoiders and Sharchoiders of . The Deminion Life Assurance Company, We have audited the books snd accounts of The Dominion Life Assurance Company for the year ended Decsember #1, 1929, and have verified the sevurities and cash and bank balances at that date. ‘The policy and annuity reserves, claime unpaid, and allotments of the surplus are as furnished by the Company‘s actuary. We héreby dertify that the above statements bearing our signature, are properly drawn up «o as to «whibit a true and correct view of the affairs of the Company according to the best of our information and the explanations given to us, and as shown by the books 6f the Company. amounts left on deposit and contribuâ€" tions to Staff Insurance Fund................ 421,337.27 Waterlso, Pebruary 10, 1986. CASH STATEMENT For the Year Ended December 3ist, 1929 Balance Sheet, December 3ist, 1929 $ $31,319.01 . 8,522,676.00 ered policies and annuities amounted to $2.267,388.13 or $641,653.74 in ex pany of December $1, 1929 amounted to $23,825.357.31, having increased during the year by $1,601,458.567. The values of the investments in bonds, debentures and stocks have been adâ€" justed to conform with the values fixed by the Insurance Department of the Dominion Government. The iverage rate of interest earned on the net investable assets of the com pany was 6.91%. Reserves.â€"The assurance and anâ€" nuity reserves amounted to $17,647,â€" 970. In addition to these reserves the Company set aside for unreportâ€" ed death and disability claims the sum of $25,000 and an investment reâ€" serve of $100,000, which brings the total reserves up to the important aum of $17,772,070, exceeding the previous year‘s reserves by $1,856,â€" cess of that paid during the previous [ The accompaning statement shows that substantial increases and maâ€" terial progress have been made in all departments of the Company‘s busiâ€" necs, and that the Company is in a sound and prosperous condition. \The results are due to the loyal and ‘or all liabilities, and after paying sut during the year $843,445.76, in the form of dividends to policyho}â€" ders, the policyholders‘ surplus fund ; stood at $2,046,511.21 at the end of ‘he year. R \| Directors.â€"The Directors who reâ€" tire in rotation are:â€"Mr. A. J. Anâ€" drews, K:C., representing the Policyâ€" holders, and Mr. George A. Dobbie, *». Ford 8. Kump{f and Dr. W. L lliard, representing the Shareholâ€" lere, all of whom are eligible for reâ€" câ€"flecau coâ€"operation of those conâ€" nectéd with the organization, which is greatly appreciated by your Diâ€" rectors. Respectfully submitt8d, FORD S. KUMPF, the Dominion Life Assurance Comâ€" pany was held at its head office in Waterloo, on the afternoon of Friâ€" day, February 1l4th. In the absence of the President of the company, Mr. Ford S. Kumpf, Mr. George A. Dobble of Galt, Viceâ€"President, deâ€" livered the address on the forty first annual report, as follows: _ _ ‘The Report and Financial State ments you have just heard are preâ€" Surplus.â€"After making provision The forty first annual meeting of $22,730,854.26 $23,825,367.81 1,094,503.55 4,853,995.01 1,284,898.41 35,685.28 Reserve Fund, according to the O. M. (5) ‘Table of Mortality with 3%% interest..$17,647,070.00 Reserve for unreported death and disability Premiums paid in advance............««« Dividends due to policyholders......$24,579.65 Premium Reductions on outstandâ€" ing premiums ... 5,106.86 Interest paid in advance ............ Accounts due and in suspense.... Dominion and Provincial Due on account of Bank, overdrafts ... funds left with the Company . Staff Insurance Fund ....................... Surplue Funds:â€" Capital Paid up ....$200,000.00 Profits alloted to policyholders $1,297,196.00 Profits unalloted _ 749,315.21 on deposit withdrawn ........................ Government and Municipal taxes .................. Office Expenses, including salaries ................ Investment and travelling expenses ............ Sharcholders‘ dividends on capital stock...... Excess of income over President. ho claims .. justment of adjustment . * fund 186,933.99 Viceâ€"President of the Dominion Life Assurance Company, who, in the absence of the President, F. 8. Kumpf, presided at the annual meetâ€" ing of the company held on Friday at its head office in Waterloo. sented by the Board of Directore with a feeling of real gratification. In the year just closed, conditions were experienced which affected al most all lines of business in Canada. The great stock market crash was one factor having an adverse affect, though this has, 1 believe, been over estimated and is now more mental than real. The wheat crop in our Canadian West was a short one but last fall this was discounted to some extent from a busimess standpoint, by the much higher prices then prevailing. The wheat pool decided, however, to hold their grain for higher prices, which encouraged many {armers outside the pool to do likewise. The result has ‘been that a very large proportion of the crop is still unsold and in the elevators in Western and Eastern ‘Canada. The price toâ€"day is about 40c per bushel lower than its high of a few months ago and, with about two hundred million bushels held for the market, it can be easily seen that if the price does not adâ€" vance, the loss to the Western farâ€" mer and the country is about $80, 000,000.00 ‘The pool still expects that the price will go considerably higher than at present and with the known world supply and Argentine reporting but a half crop, their conâ€" tention seems justifiable. Time will tell whether their experiment in holding the crop has been a wise one. In the meantime, however, it has had its affect and has caused const derable uneasiness to business in general as well as depreciating the value of our dollar. In spite of these upsetting factors, business is good Ne#, Robertson and Co. 2,040,611.31 . $2,433,444.20 ..$76,940.34 ~â€"â€"â€"â€"â€"â€"â€"$ $,261,888.18 18,916.00 $21,301,913.01 10,000.00 1,760,000.00 332,244.61 1,163,042.07 25,445.27 a.rs1,410.08 2,814,498.24¢ 29,686.61 64,649.64 84,730.01 100,000.00 25,000.00 90,856.34 €9,289.16 116,058.05 11,104.08 es written by its agents dur fi‘g&.‘-’..fi,"& amounting~ twelve ‘l'i-nn.-uonhduuw tive millions of insgrance in progress and growth. In looking at the gigantic strides made in life insurance in the past ten years, it is a natural question to wk:â€""Has not the point of absorp tion been reached?" However, by those who have made a scientific survey of the insurance business, the answer is readily made in the negative. The almost phenomenal growth of Life Insurance in Canada ind the United tates is largely due to the aggressive advertising and sducational campaigning done by the companies, backed by the leading newspapers and journals in the two countries. ‘This has brought about the realization of the wonderful beâ€" 2efits to be derived from life insurâ€" in its vast undeveloped natural re sources, its great expanse of virgin 3oil, its industrial opportunities, and its virile people, its continued scale, is assured, and in the van of this progress goes life insurance, the greatest known developer of thrift. The savings of the people gathered by these life insurance companies, is used in the develop United States, while Canada is a possibilities of this young country seven millions on books. Our income in that same period increased from $1,182,000.00 to At the end of last year we had In 1919 we out to policyholâ€" dere $619,000.00. Last year it was greater by $1,â€" mm.“.ualuddmt'o oneâ€"quarter millions, while our assets increased from five and a half millions to nearly twentyâ€"four millions. ‘These (â€" The fortyâ€"first annual statement of the Dominâ€" ion Life Assurance Company records a year The Rate of Interest Other indications of the able manner in which the Life is administered are to be found in the soundness sfi ponidionaed thepre: proâ€" gress which it has experiâ€" enced, as shown by the Ti be ty s fian 6420000 ppone than those fixed by which amount to amountsto$2,046,511. This is after setting S opige io prodiels policyholders during earned on investable assets during 1929 was 691%. CONSISTENT PROGRESS GROWTH Je QOMINION LIPE requireâ€" x# & a 0 O F FIG E:. wA T ERL O 0 ,° 0 N 1.« Our Kitchener Office â€" 60 King St. East, P. H. Roos, Manager â€" Phone 445 Annual Statement _ shows continued expansion _ ‘The old saying that in Life lnnr-' uo.on.nuht“"l)h bw”&“”fi'm since been aside. In the to f of $2.267,363.00 shown in Te is the total amount past due on over toda $11,000,000.00 of first mortgages. statement, as paid to policy holders Since the date of this statement, we and beneficiaries last year, the sUM naye received $15.000 on account of of $750,981 was in settlement of death claims, the balance of one tMis $90.000.00 item. and a half millions is made up of| _ An interesting and most important payments to living policyholders. |part of our statement is our investâ€" You_have before you a statement :loll‘;ll The Inv:tin: of the noliq‘- Assets. The poin olders‘ money is a sacred trust an :: which 1 wish o-poe:fiy“t':nlnd':. we feel that our list of holdings is One is the item of $114,221.00 as inâ€" * wisely selected and wellâ€"balanced terest due on investments. Of this °"* amount $108,000.00 was due on mortâ€"‘ The Dominion Insurance Act does zages at the end of the year. Against not prevont us from investing in I â€" gEorck a bosmig ment of this country, in the building its railromds, echools, highways, public institutions, power plants and all other needed public utilities, 1s well as providing for the widows ind orphans and thereby. relieving the state of a greater care. . _ zages at the end of the year. Against not prevont us from investing in this we held grain in our name to Common Stucks under certain reâ€" the value of $18,000, leaving $90,000 strictions. It has been the policy of vutstanding, and of this amount only of the Company to invest chiefly in $22,000 was overdue more than two Bonds and Mortgages, the wisdom months. To this we point with conâ€" of which policy has been amply siderable pride when we know this proven. â€" W. L. HILLIARD, »â€" â€" Wateries, Ont. J. . GUNDY Torento, Out. Dominion Life A.J.%‘.& H. M. SNYDER Waterloo, Ont. W. H. MALKIN Insurance in Force Now in its fortyâ€"first year of service to the Canadian public, the Dominion ifi"g-l-â€" adian public, the Dominion ation tor inegs prodante polcyinokdies. 1919 $35472,313 $137,474,551 1929 51 BENTON ST. KITCHENER. ONT PHONE 653 larly proud is the fact that our service _ is not limited in the avrea it scomere: * need may be; we take care of the reâ€" quirements of those in the rural disâ€" tricts just as efficiently as we nerve . in our immediate vicinity, 2 is not limited in : not limited in the area it covers. SchreiterS FUNERAL HOMi ly in First Mortgages, Dominion and Provincial Government Securities, Municipal and other highâ€"grade bonds and with the average rate of interest earned last year, according to the Government formula, of €.91%, are justly satisfied with such sound investments to give our policyhok ders this most gratifying result. the Kâ€"W hospital by Dr. McCarville he was able to return home.â€"~ > As a result of a motor truck beâ€" longing to Harry Marks crashing into a streetâ€"car at William St., Wa terloo, Thursday night the. driver Stanley Merkley 170 Oak St., Kitchâ€" ener suffered painful injuries to his ‘We are continuing to invest chiefâ€" nc ts T a R 1O