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& Company Now Among the Six Strongest Fire s Insurance Companies in Canada; Surplus for $ Protection of Policyholders Increased. _ INSURANCE INCREASED, _ | <a_s>] _ REVENUE UP; LOSSES ] fanie | DOWN DURING 1934 Ee ge sae es nomical Mutual Fire Insurance Co., held at the head office of the Comâ€" po;yhin Kitchener. total assets of the Company are nearing the $2,000,000 mark, now being $1,996,264.42, and the surplus of assets over liabilities now stands at $1,650,181.48. e proiinlg at two o‘clock, and exâ€" pressed his pleasure with the progress of the Company in the last year, und his gratification at the confiâ€" dence in the management by the policyholders. _ _ A vote of thanks to the agents of the Company, who have so faithfully represented the Company, and whose good work has made possible such a splendid record as that of 1934, was passed unanimousâ€" ly at the meeting, and was briefly responded to by Mr. A. K. Cressâ€" man of Wlterly;o. and Mr. J. G. Hurst of St. Jacobs. Mr. Cressman on behalf of the agents congratuâ€" lated the Board and the Company on the exceedingly good record achieved by the Company in ,1934. He found the Company always anxious to do the right thing by the agents, and the agents in conseâ€" «quence were always anxious to give to those who want insurance. He helieved the officials of the Company gave every ‘consideration in their power. A hearty vote of thanks was exâ€" tended to Fire Chief Guerin and the Kitchener Fire Dept. for the splenâ€" §Wd record they have achieved in fire prevention in the CIlt& As President Lang expressed it, Kitchener has an outstanding fire brigade that is alâ€" ways on the spot to put out countâ€" less fires in their incipient stages. Increases in amount of insurance written, with su! uent increase of revenue from ums, and a subâ€" stantial reduction in fire losses, were gratifying high lights of the reports The President, Mr. George C. H. Lang, called the meeting to order The financial statement, the Directors‘ Report, along with the report of the Superintendent of Agencies, and of the Inspector, were presented and received. _ the Company Business because of the satisfactory manner in which claims are settled. Mr. Hurst expressed his appreciaâ€" tion of the considerate and amiable way in which the Company treats its agents. The prompt manner in which settlements are made appeals PRAISE FOR ~KITCHENER FIRE CHIEF Among those present were Pres. George C. H. Lang, Louis J. Breitâ€" haupt and Henry Knell, Carl Kranz, Hon. W. D. Euler, W. J. Mot:, Henry Krug and F. W. Snyder, Directors. At a meeting of the Board of Directors following +the annual meeting the following were elected for the year 1935: George C. H. Lang, President; F. W. Sn;\nti:;r, Managing Director; W. W. 6 Assistant Manager and Secretaryâ€" Treasurer. The number of years in which an insurance company has been in existence does not necessarily indiâ€" cate its financial strength but it does tell the public that among those institutions which had their beâ€" ginning when Canada was young, it has been a contributing factor in the buildingâ€"up of our country Vdifsrri!;g the days of rugged pioneering an that it has served the public when ited Friday afternoon at the annual meeting of the Ecoâ€" Office PFEMISES 1:ssicisccscvcioneneorninspresernirninsveanrcisennsnn First MOFUERA@O® ....:s:ssccossosrecsnrmnnyrncndrrcnanteecnctepocts Real Estate held fOPT Bmle.............ccouscccccclee>s Book Value of Bonds and Debentures: Not in def@UIE:â€"2ccc0c00sâ€"0s0rrrormre imerneeressrcceyrtarccanees Sn MREFRUIE _ ...... .. oorremncermvececonneronenns o efegetapreronnls Book Value of Stock# OWned..............c.c.cooco. Cash on Hand and in BANKS.\....ccsssce s Interest and Rentsâ€"Due and Accrued................ Agents‘ Balances written on or after 1st October, Amount due from Reinsurance on losses already Due from Reinsurance Companiesâ€" Gentlemen:>â€"We undersigned, the Auditors of the Company, HEREBY CERTIFY that we have carefully examined the within Statement and compared the entries therein with the books and records of the Company and that the said entries are correet. We further certify that: , (a) We have audited the books of the Company and have verified the cash, bank balances and securities; (b) We have checked the reserve of unearned iums and that it is calculated as required by the Insurance Act; (c}) We have examined the reserve for unpaid cfllm and that in our :rinion it is adequate; (d) That the balance sheet does not show as assets unrld balances owing by agents or other insurers whose accounts have w.4 kass oavifcd within tha navt nracadino ninatw dave: To the President, Directors and Members of the Economical Mutual Fire Insurance Company. _ not been verified within the next preceding ninety days; _ _ _ _ _ _ _ _ _ _ _ _ e (e)~Phe balance sheet does not include as assets, items prohibited by the Insurance Act from being shown in the Annual ’ Es‘?;'m«â€""‘fi'nqdnd""' 'e?'bi'fld"h'.mr-""’-iiei{ i ol e i l oi t e ) ue consideration, we have formed an independent opinion as to the ition of the Com d th ith out ietey oan ce gge fobets shos, se ic Patlt en uy Te Ned o thaine o Ds C uid Bat * 5 n our n a e state 0 rs o ompany; and that (@) Al transactions of the Company that have come within our’nouec have been within It: pow:r.-., * t Respectfully submitted, & Historical Economical Mutual Fire Insurance Co. (Received Business) ... GRORGE C. H. LANG, President. The Sixtyâ€"Third Annual; Financial Statement and Auditors‘ Report of the ASSETS ensured the success of the communâ€" ity were thus woven into the fabric of the Economical Mutual Fire Inâ€" surance Company by its founders whose desire was not only to proâ€" vide the immediate vicinity but the entire Province of Ontario with a fire insurance service at moderate cost commensurate with the utmost safety. The extent to which the Comâ€" pany has succeeded in its purpose is evidenced by its sure and steady progress as outlined in the followâ€" ing figures, showing the. result of operations during the past forty years: CASH ASSETS 1894 â€" $96,262.00 1904 â€" $113,789.00 1914 â€" â€" $467,594.63 1924 â€" â€" â€" $1,125,735.48 1934 â€" â€" â€" â€" $1,996,315.74 The untiring energy, thrift and business acumen of the founders and their successors are no doubt responsible for the growth of the Economical Mutual Fire Insurance Company whose reputation for moderate rates and fair and honest settlement of losses has gained for it a widespread, enviable reputation. In only one of its sixtyâ€"three years of existence has there been an inâ€" ‘terruption in the regular progress of the Companyâ€"in 1904â€"the year of the great Toronto conflagration â€"when nearly all fire insurance companies suffered serious losses ’aggregq_ting millions of dollars. . Out of necessity, therefore, and with a desire to aid its citizens, did the "Economical" in 1871 have its beginning in the then town of Berâ€" lin, which was later to become one of Canada‘s largest manufacturin centres. The same qualities whk: reliability angd strength were at a premium. As will be seen from the Financial Statement, _ unsettled _ losses _ at December 3ist, 1934, stand at the surprisingly small sum of $6,687.53. This amount in comparison with the total losses paid during the year of $132,280.91 confirms the Company‘s reputation for the prompt payment of claims. The true position of the Company with reference to its assets Reâ€"appointed Managing Director bears out the Company‘s reputat at the annual meeting on Friday. for prompt settlement of claims. MANAGING DIRECTOR , Ont., January 15th, 1985. For the Year Ending December 3ist, 1934 F. W. SNYDER $ 60,000.00 680,810.14 9,342.02 $1,096,264.42 CERTIFICATE OF AUDITORS 972,259.08 105,471.82 69,614.33 37,746.78 18,550.58 32,660.65 9,493.93 315.09 The Economical Mutual â€"Fire Inâ€" surance Company is a dpurely Canaâ€" dian Company, founded and deâ€" veloped by Canadiansâ€"a fact that should receive the serious consideraâ€" tion of the insuring public. Every dollar of its funds is invested in Canadian â€" government, â€" municipal corporations â€" securities and | first mortgages to «contribute to the growth and prosperity of Canada. is also shown in that all securities have been entered at cost and a reserve for possible losses on inâ€" vestments has been established at a figure sufficiently large so that, in effect, securities are valued at actual market prices. In this year 1935, among three hundred and thirtyâ€"five companies transacting fire insurance in the Province of Ontario, the Economical Mutual Fire Insurance Company stands twelfth highest in volume of business and the relation of its surplus to the amount at risk enâ€" titles it to be cassified among the six strongest fire insurance instituâ€" tions in Ontario. To _the members of the Economical Mutual Fire Insurance Company : Gentlemen :â€"â€" Your Directors take pleasure in presenting the Sixtyâ€"third Annual Report and Financial Statement on this occasion. The year 1934 has once again been a year of substantial progress end the financial statement reveals a position of financial strength never attained before in the history of the Company. _ â€" " Assets now stand at the sum of $1,996,264.42 and â€" include only those assets admitted by the Proâ€" vincial Department of Insurance. Cash on hand and in banks amount to $37,746.78 while investments in bonds, debentures, mortgages and stocks average $1,828,155.37. A reserve of $135,000.00 has been established to take care of possible losses on investments so that in effect our securities are valued at actual market prices. _ __ _ _ GEORGE C. H. LANG Reâ€"elected _ President _ of the Economical Mutual Fire Insurance Company. Liabilities amount to $346,082.94 â€"the two principal items being Unearned _ Premium _ Reserve â€" of $194,111.52 and Investment Reserve of $135,000.00. Unadjusted losses at the end of the year amount to only $6,687.53 which most certainly bears out the Coimpany‘s reputation Total Provision for Unpaid Claims....... Reserve for Unearned Premiums............ Reserve for Unlicensed Reinsurance...... Taxesâ€"Due and Accrued.............. InVesHMEONE REBSBRY@...ss..c0sss0sscicivcnsrinrens Agents‘ Credit Balances.................. Reinsurance Companies‘ Credit Balances Surplus for Protection of Policyholders Directors‘ Report SCULLY & SCULLY, Chartered Accountants. February 1. 1935 LIABILITIES ment over the previous year. The net premium income is g24.724.67 greater than in 1933, while the oss losses during the same w‘rkod E:cmaed $23,197.20. Losses divided under three headings are as follows: Mercantile ....................$68,802.69 Isolated, or Residential 40,034.39 Hazardous, or. Manufacturing ........ 23,443.88 During the year there were thirtyâ€"six new agents appointed to our agency staff, seven of whom replaced agents who disposed of their business for various reasons. We regret to report the death of four of our agents who had served our Commnkfnithfully for many ‘i‘ears and wifose loss we feel very eenly. We have appointed new agents in their i)hces and I feel satisfied they will do their best to continue the good work of their predecessors. _ Among the other twentyâ€"five appointees we have a goodly number who have already demonstrated their inclination and ability to get business for the Economical. were invested in first on|to the Co y by its representâ€" residential mm-m-mlfl'u.mghdfiqmb& substantially assisted the construcâ€"|commended for their untiring efforts tion industry and has contributed to|to build up.a larger and stronger the employment of many skilled leolo-kat workmen. > _ {| â€" Business conditions in general are To the President and Board of Directors, Economical Mutual Fire Insurance Company : Gentlemen :â€" nual report for the dyur 1934, which again ~shov.~§_ considerable improve The â€" retiring _ Directors _ are Messrs. W. D. Euler, H. J. Sims and W. J. Motz, all of whom are eligible for reâ€"election. Resgectllll* submitted, EORGE C. H. LANG, President. * _ There are 27,482 policies in force| Ontario busines» 1988 531 and the total amount of insurance 1984 carried is xlfl.“".“. then !ny..ffiam‘t < r more Three Hesured Pmeusang Doilers io the class of buainens # Your Company is not only in an e‘xflcelhntdfln‘:nc::l position but i:::: an on managed ;onyr Directors loal forward to the year 1935 with a high degree of confidence. 1 am pleased to present my anâ€" nual report for the year 1934, which With the promising outlook for the new year and the results already realized during the month of Januâ€" ary, we are entitled to look forward to another good year of progress, serving our insuring public in our customary prompt and satisfactory manner To the President and Board of Directors, Economical Mutual Fire Insurance Company: Gentlemen :â€" Presenting my annual report I take pleasure in sumarizing m efforts in connection with the wori under my supervision. _ _ Considerable time has been deâ€" voted to inspection. Close contact has been maintained with the underwriting department whereby questionable risks have been segreâ€" gated from general business, and consequently _ improvements _ and alterations . have â€" been â€" effected which I feel certain will improve the physical aspect of these risks in question, and reduce the fire hazard materially. Quite a number of risks. were cancelled or dropped at expiration, due to unfavorable physical conditions or doubtful morgl reasons. Our net retentions have been increased on preferred $24,1%4.57 over the previous}velop a more definite counn ts .. to your i poarf n antraie] zn mout and long experionce are at ’mm ie wiaaine "laees Pr i coue service. Reatonable piices Respectfully submitted, A. H. DEVITT, Superintendent of Agencies. Supt. of Agencies Inspector‘s Report $ 6,687.53 194,111.52 2,010.12 7,182.84 135,000.00 152.38 38.55 $1,996,264.42 1,650,181.48 gradually inmvin'!.:nd' the Comâ€" pany‘s, representa throughout the Province has been considerably strengthened. I do not hesitate to mention that the Company is beâ€" coming more popular addiâ€" tional ndnrdsrix, fair d and service rendered, and I feel conâ€" fident that the current year‘s busiâ€" ness will be equally as successful, if not in excess, of the past year‘s operations, â€" He Guessed Wrong Watchman (after train has passed leaving demolished auto in its wake): "Heavens, man, didn‘t you see my stop sign?" Motoriet: "Sure, but 1 thought it was meant for the engineer." CANT SLEEP Relief comes soon with use of Dr.CHASE‘S 6;, § _’/ IT‘S YOUR NERVES Phone 2777w. 50 Ountario St. S. KITCHENER er eall. 0_ 0_ 00 ) 0000 Smith Manufacturing Co. pensive. Write for illustrated booklet perfected invention. No leg straps. or. Williams SCIENTISTS FINDâ€"FASTER WAY TO RELIEVE COLDS Mrs. Edward James‘ baby had two teeth when less than three months old. Bhe writes: "He has 18 now and I can truthfuily say that giving him Baby‘s Own Tabâ€" lets while cuttin' his teeth kept him fit and well". Tecthing is a restless feverish time for babics but the little one can always be southed and the fever reduced by giving sweet, safe Baby‘s Own Tublets. Very easy to take, no after eifects. Price 25c every where, Respectf ully RUPTURED? ORDON‘S Satisfy Relieved / L. J. SHANTZ, Inspector Ache and Discomfort Eased Almost Instantly Now When you have a cold, remember the prescribed by doctors everywhere toâ€" day as the quick, safe way. Because of Aspirin‘s quickâ€"disinte~ Just take Aspirin and drink plenty of water . . . every 2 to 4 hours the first dayâ€"less often afterward . . . If throat is sore, use the Aspirin gargle. But be sure you get ASPIRIN. It is made in Canada and all druggists have it. Look for the name Bayer in the form of a cross on every Aspirin ‘Tablet. Aspirin is the trade mark of the Bayer Company, Limited. mout and long experionce are at your service. Reasonable prices and prompt attention, ough experience to enable us to give prompt, fomplete and satisfactory service. Whether it is repairs, alterations or instalâ€" lation, you will find our work of the same rigidly high standard. GERALD E. SMITH “gohno-o-vlnr-fi-o outfit comsis dmmmufi water pump, governor, battery King St. S. â€" Phone 941 WATERLOO PLUMBING â€" HKATNG 22 King South â€" Phone 128 WATERLOO is constructed along the same lime as the latest industrial power unit and will provide you with cheap power for years to htfloldqurtet:hfeorbewiummotor. want st gasoâ€" linem oil, but who also insist on economy. 136 King N. â€" Phone 126 Waterloo, Ont. best for heaters, stoves and furnaces. We guarantee satisâ€" faction and the right price. and you‘ll have a warm house and save money. Our wood is PROMPT DELIVERY. Erbsville Road Phone 72 r 4 R. R. 3, Waterloo DAY AND NIGHT SERVICE Theodore Dictrich WHITE HOUSE SERVICE Modern equipment and thorâ€" FARM MACHINERY | Phone Wateriso 70 r 21 Lubricating _ Antiâ€"Freese Specializsing in NO. 1 HARDWOOD Burn wood from this yard MUSKOKA WwOOD YARD SKATE SHARPENING LOWEST CHARGES SUPERTEST GARAGE A Bargain Women‘s black calf Tie with « black suede trim. @9 QK Tic, Reg. $4.50 ........ It rpeakes â€" no _ difference whether your order of our coal is large or small, whether you are buying for your home or a winter‘s supply for a factoryâ€" our delivery service will be prompt and courteous. Women‘s brown calf Tie with browg suede trim. Cuban beel. A Carload or a Sack â€" 114 King S. â€" Phone 399 WATERLOO Esson St. There never was a time when one‘s appearance counted so much as now. Our experience, equipment and dozens of deâ€" signa and materials are at your service to enable you to look your best. A tailorâ€"made suit or overcoat will last longer and give more satisfaction. 9 King N. 33 King KEast â€" Phone 2799 Kitchener : SCHATZ COAL Princess Seap Chipes 7 % phgos. 3B¢ Desby Seap Chips, 3 the. 25¢ 988 King W. â€" Kitchener P. & G. Seap ..=â€". * R. BRAUNLICH Hig $ Clonnser ............... A. Urstadt Phone 246 30 Young 3t W. HODGIN‘S BEAUTY SHOP Our new Spring samples are ready for your JACOB RAHN || : MERCHANT TaAlLOR HABERDASHER MEN‘S WEAR CLEANING . PRESSING oys ghoe, t Women‘s black kid Tie Arch All sizes, 4 to 8. A and C By ,buying direct from large importers and wholeâ€" salers and having merchanâ€" dise carefully and promptly tranaported _ here â€" ensure« Women‘s brown crushed kid freshness and quality You bave to dress your hair in‘accordance with the Marcelling _ . Manicuri Scalp Tmlm(: hk mewest modes. Our soft, are modern to the minute. Domestic # Imported Phone Orders Promptly JOSEPH FACKOURY PERMANENTsS Of Individuality and VEGETABLES WATERLOO WATERLOO Attonded To. for you. 168 ~Y