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SURPLUS.â€"The Surplus at the end of 1986 of $77,520.09 was inâ€" creased at the end of 1986 by $8,908.42 as a result of the 7yelr’s @perations, and by $827,793.18 arising from the reduction in Capital effected during the year. INVESTMENT AND OTHER RESERVES.â€"Continuing our poliâ€" cy of devel%ping our statements on & stron&an conservative basis, we added this year $10,000 to the Inâ€" vestment Reserve, which now stands at $190,000. Reserves against Real Estate Held for Sale were increased frt:’m 10'%th15tZ: of bo?’k Avalue, and against Mortgages an greeâ€" ments for Sale by $75,763.84. The reduction of $48,261.93 in Interest Due and Accrued is wholly accountâ€" ed for by reserves set up in 1986. Other items were also taken into the statement conservatively. Bonds, Debentures and Stocks were taken below aggregate market prices. show an increase of $541,947 over 1985. Adequate provision was made for Unpaid and Unreported Claims, Expenses and other items. LIABILITIES. â€" Policy Reserves constitute the biggest item of our Limbilities. At $9,140,087 they We increased slifhtly the proporâ€" tion of mortgage loans, a percentâ€" age of the new loans being made under the Dominion Housing Act. Our bond portfolio showed a general improvement in market value, exâ€" cept for Alberta provincial and municipal debentures. Policy loans decreased by $86,642.87. ASSETS.â€"During 1936 our Asâ€" sets passed the 10 Million dollar mark; tht:’y stand at $10,302,438.04 at the end of the year, an increase of $575,697.02. Mortgages and Agreements for Sale constitute 41,.0% of the Assets, Bonds and Debentures 88.4%, and Policy Loans 16.1%. EXPENSES.â€"Head Office and Mcy Expenses, apart from comâ€" ons, were decreased in 1986 by $4,602.06 to $184.515.38, indicaâ€" tive of economical management. on i mm Euen Om mE O UE RECA CE in 1986. Death, Disability and Double _ Indemnity claims were fil..,l)'lo.‘lo a decrease from 1935. morhlfty rate was 49.2% of the expected, repeating the favorâ€" able ofl»erienco of the !eur preâ€" vious. More than twoâ€"thirds of 1936 policy payments were made to living mltcyholdeu. Since the organizaâ€" n of the Comrany $6,540,039 has ‘I‘xo'en paid to policyholders and beneâ€" PAYMENTS TO POLICYHOLDâ€" ERS. â€" Payments to Policyholders and Beneficiaries were $655,097.01 INCOME.â€"The total income for the year from all sources amounted to $1,714,536.76, an increase over 1985. Net Premium Income gained by :.19,681.89, and Interest, Diviâ€" den. on Stocks and Rent by $29,456.88. The rate of interest earned on invested Assets was 4.80%. lhndlng'imunnce by $17,067, the total lnf 16,864 policies for g&osz,sx > excfu.ivo of annuities. _Egglness increased by 14% over 1985. INSURANCES. â€" During 1986 new policies were issued and old goliclu revived for $8,477,537. erminations again showed a deâ€" crease, enabling us to increase outâ€" as follows: Waterloo, February 1, 1987. To the Policyholders and Shareâ€" holders of The Equitable Life Insurance Company of Canada : Your Directors have pleasure in submitting the Annual Statement and reports of the affairs of your Coaany for the year ending Deâ€" oue_m_a_l, 1986, and beg to report At the Seventeenth Annual Meeting of The Equitable Life Insurance Company of Canada (the first under the changed nume) at Waterloo on February 1, reports were presented which showed gratifying growth of the Company in 1986. The Directors‘ Report was given by the President Hon. J. L. Raiston, Assets lncr;uod by $575,697 . . . and Policy Reserves by $541,947 . . . Insurance Outstanding $40,982,811 . . . Terminations decreased . . . Income $1,714.536 . . . A strong statement showing solid growth. Equitable Life Annual Report _ |Waterioo Mutua) Fire Insurance Shows Good Growth Of Company| _ â€"Enjoys Banner Year; Impr Ing Interest Accumulations .......................... Premiums Paid in Advance . neverernaataes Agents‘ Credit Balances..............0.000000.0.0. Tares, Expenses and Accounts, Due and Accrued Investment RekBrve c:susssicsscooonscovcecerrrrccnnnnnnnone Other Liabilities nnppeerernrenepeenrmerrpearict ns Dividenda Allotted to Policyholders......... ... .. Capital Pald In:ssssssmsmmsmmmmmmrresremmmmnsrerrren Surplus ... se mc Policy Reserves nmeyrerereredenorennnennsesiÂ¥rerenananzensznres $9,140,087.00 Provision for Unpaid and Unreported Claims.... . 69,744.00 Polk_y Proceeds Left with the Company, Includâ€" o Mortgages on Real Estate.................................. 4,165,188.32 Agreements for S&le..................oosenel enc 64,882.95 Lonnus on COHRUGERN: ::::::::::.ss000000601ssarrserrrrrimrstermcrabee 4,626.19 Loans on Policies ........................c.ccllsllc0.0..0. 1,658,978.42 Bonds and Debentures........................................... 3,446,035.85 Cash on Hand and in Banks......................... 19,344.18 Outstanding Premiums Due and Deferred (Net) 182,048.02 Interest Due and Accrued.......... .......................>. 269,0678.06 All Oth@r AsdOES.......cccssssslss iess esns 184.25 Real Estate: A YEAR OF ACHIEVEMENT TOTAL LIABILITIES TOTAL ASSETS Office Premires .. Other (Held for Sale) Directors‘ Report Balance Sheet, December 31, 1936 THE EQUITABLE LIFE ASSETS SsOLID PROGRESS MADE DURING 19% LIABILITIES |__ASSETS.â€"In our Real Estate acâ€" l;m count we wrote $2,500 off Head tion Office premises. Real Estate Held fully for Sale was taken into the state" | pagt ment at 85% of our book value, the | E::is reserve being increased from 10% |in 1985 to 15% in 1986, or $16,â€"| _ HF 845.47. STAl ‘ Mortgages and Agreements for pany, Sale were increased by $388,1338.52 |ative: during 1986. Of the total of | Office 34,230,1071.27 less than 5M% 1:repre- i"xé” sents farm mo es. ortgages | sults. are shown after aenfuction of mortâ€"| their gage reserves of $172,660.84. This|comp reserve includes an increase of $75,763.84 made in 1986. _ As an indication of changed conâ€" ditions, we note that new Loans on | Head Office and Agency Expenses were reduced by $4,602.06 for the year. The maintenance of low exâ€" penses despite the growth in Assets and of our business generally, indiâ€" cates that we are travelling on a sound path, _ DI8BURSEMENTS. â€" More than twoâ€"thirds of our Disbursements were made to policyholders or beneficiaries. Death Claims paid were $198,781.00 in 1935 and $197,277.40 in 1986. The care exercised in the selection of risks continues to give the Company the benefit of a favorable mortality exâ€" perience. ‘ INCOME.â€"It is gntxfying to reâ€" grt an increase of $19,631.39 in emium Income and of $29,456.38 in Interest, Dividends on Stocks and Rent over 1985. The excess of Income over Disbursements was $763,973.37. The statement for 1986 is the strongest in our history. It is feaâ€" tured b{ a consistent growth in Assets, by low expenses and morâ€" tality, and particularly by the reâ€" serves provided.at many points to build that kind of conservative reâ€" RETIRING DIRECTORS .â€" The retiring Directors are, for the shareâ€" holders: Messrs. Herbert Begg, H. g Bertram, J. C. Breitlnuptf‘!!on. |F. C. Biggs, J. C,, Haight, K.C., Chas. 8. Morton, M.B.; W. E. P?ne, K.C., Hon. J. L. Ralston, K.C., E. K. Reiner; and for the g(olicyholdon: Messrs. A. W. Briggs, K.C., Senator (H. W. Laird, Hon. Harold Macâ€" ‘pherson, J. A. Martin, E. C. Mitchâ€" ell, J. M. Walton, all of whom are eligible for reâ€"election. Respectfully submitted, J. L. RALSTON, President. ND $05,140,00, increased by $041,947 General Manager. |and are taken at a fl‘fnre somewhat Before commenting on our finanâ€" Sreater than required by the Insurâ€" clal statement, I should refer to the ance Act. Among our Limbilities important _ changes suceeufulg there appears this Jnt for the first effected as at August 1, 1986, with time the item Dividends Allotted to the unanimous approval of our Policyholders. This arises from the shareholders. The cfinnge in name, commencement _ of _ participating in capital structure, the addition of business, and although the item is participating business, and the seâ€"|SMall, it is destined to assume conâ€" curing of Dominion incorporation|Siderable proportions. have received public commendation, INVESTMENT RESERVE. â€" In and the Company has derived pracâ€"|addition to the specific reserves tical benefits in respect of eACh made all down the line in our acâ€" item and will be helped considerably|¢°unu, we maintain a general Inâ€" in future years. sreatm ame m iL L Lo °_ Tt EFRCrE Jns ....$105,000.00 .... 300,667.80 AUDITORS‘ REPORT. â€" The books of the Company have been audited regularly throughout the year by Messrs. J. F. Scully, C.A., and R. P. Uffelmann, C.A., and their certificate is submitted herewith. ort which makes for public favor or our Company. and it is confldently expected that it will benefit the Company maâ€" terially in the coming years. 1986 CHANGES. â€" During 1986 The Equitable Life Insurance Comâ€" E‘nti of Canada was incorporated y the Dominion Parliament to take over the business of The Ontario Equitable Life and Accident Insurâ€" ance Company as at August 1, 1986. This step has been completed, Review of 1936 Results By Mr. M. J. Smith, Eflcflt Surplus is $409,221.64 pital P‘?‘In is $327,793.12. ..$10,302,438.04 â€"â€" $ 405,667.80 ... 4,165,188.32 64,882.95 se 4,626.19 .:. 1,658,978.42 ... 3,446,035.85 ze 85,834.00 r 19,344.18 $10,302,438.04 129.00 327,793.12 409,221.64 106,475.93 10,383.43 3,871.12 27,822.65 190,000.00 17,110.18 Repartee is the big man‘s smart answer to your question. If it comes from a little man. you call it an insult Mr. and Mrs. Alex. Cooper and daughter Marian and Isobel spent last Sunday afternoon with Mr. Wm. Rennie of Glenailan. Mr. G. G. Class, the veteran aucâ€" tioneer of Florufulo. conducted a very successful sale of valuable effects, etc., for the estate of the late Jas. Richardson on Wednesday of last week. Mr. and Mrs. Duncan MacPherson attended the funeral in Galt of the late Mrs. John MacMillan and also spent several days with Dr. and Mrs. A. D. MacPherson of Waterford. Mr. and Mrs. Roy Stickney and family of the sixth of Peel were reâ€" cent visitors with Mr. and Mrs. Leslie Beggs. Mr. Jas. Richardson and sister, Miss Kathleen Richardson, of Greenâ€" town, Ohio, lfient a couple of days last week with friends on our line. Wm. Richardson had the misforâ€" tune of having his nose broken by a puck while witnessing the Linâ€" woodâ€"Floradale hockey match in Linwood Tuesday evening. Several here had the pleasure of hearing Ruby Ward‘s 8â€"piece orâ€" chestra on the air from CKCR, Kitchener, on Saturday eveninf. Mr and Mre Albart Mundall and Mr. and Mrs. Campbell Shants accompanied Mr. and Mrs. Howard Zinkan of Heidelberg to Sebringâ€" ville recentli where they visited with Wm. Schneider‘s. f R. R. 1 WALLENSTEIN Alex _ Ber is attending the assizes as a surymun in Kitchener this week. « STAFFS.â€"The officers of the Comâ€" pany, its man;‘fen and representâ€" atives in the Fleld, and our Head Office Staff, served well during 1986 in p»oducing very satisfactory reâ€" sults and deserve great credit for their nterest, enthusiasm and acâ€" complishments for the Company. I We have achieved a low cost of ‘operation, we have confidence that our mortality claims will average }out favorably during coming t'mem. and that a conservative investment policy will minimize losses. These are the fundamental factors deterâ€" mining the soundness of a Company and providing the basis of a sure growth. We believe that our frowth can now be accelerated. In our opinion we can, durlnf the next five years, expand our Field Organizaâ€" tion and new production as ;careâ€" fully and successfully as during the E:st five we established the ‘broad sis for this expansion. years, includlnlf the one we are now ‘pa-esentinz, will find full evidence of the progressive strengthening being effected in the structure of the Comtrlny. This policy is followed in the deepest sense of trusteeship toâ€" ward our polic{holders, with the aim, as far as is humanly possible, of building the Company into an imâ€" pregnable position. _ _ ‘ THE OUTLOOK.â€"Any one who analyzes our statements for some years, including the one we are now __SURPLUS AND CAPITAL.â€"The reduction during 1986 of our Paid In Capital by 50%, increased the Surplus by $327,793.18. The Surâ€" lus _ at the end of 1935 was $71,520.09, â€" and â€" with $5.005 .42 added in 1986, the total éu?l\u now stands at $409,221.64 and Paid In Capital at $3827,798.12. INVESTMENT RESERVE. â€" In addition to the specific reserves made all down the line in our acâ€" counts, we maintain a general Inâ€" vestment Reserve, increased in 1986 by $10,000 to $190,000. ORBRREAERL NN m k i. 90E Li c there appears this Iur for the first time the item Dividends Allotted to Policyholders. This arises from the commencement _ ‘of _ participating LIABILITIES. â€" Policy Reserves at $9,140,087 increased by $541,947 and are taken at a fl‘fnre somewhat greater than required by the Insurâ€" ance Act. Among our Liabilities hh: *4 Sichdiedsilh Ahd inbdlcdbtcds 3 Mb a d 2A Rd We report a healthy gain in Assets of $575,697.02, the total now standing at $10,302,438.04. Interest Due and Accrued is tals $62,806,607. The income for shown $48,261.93 less than at the the yYear was $492,402, total assets end of 1985,. We do not include in ‘li'”"”s and surplus to policyâ€" the statement past due interest on holders $1,400,829. any defaulted bond or mortgage in-] Viceâ€"President J. Howard Simpâ€" terest long in arrears. In connection son, of Guelih, in ucon.w the reâ€" with mortgage interest considered port, stated he was ill: to note collectible we ;rovided in 1986 a progress made, which reflected reserve of $61,299.64, or 25%. Isound mana#ement ‘The imnrova. whichever were lower. 0 President W. G. Weichel, in preâ€" Premiums in course of colloction"‘nm the Directors‘ Report, reâ€" were lower at the end of 1986, due ferred to the "u'f“m "“"‘"w to better conditions and payments. in business in force which now t Preferred and Common Stocks were increased by $40,656 to $85,884. These were valued indiâ€" vidually at book or market prices whichever were lower. Pn mt on n EY CE CHUEE have tended to reduce fi: general mug rate on our invested assets We| WM. G. WEICHEL REâ€"ELEC] have continued the policy of buildâ€" ;nfhup a strong investment portâ€" AND J. H. olio. «â€"_~â€" § nBl:ndd‘: .n.ddDobontuu not in deâ€"| One of the most on::un;iu and a owed an te amorâ€"|satisfactory reports cars was tized book value lomn market that presented on Suwiny afterâ€" value; we took them into the stateâ€" noon at the uvv-!mth annual ment at a lower than the meeting of the Waterioo Mutual book value, us a conservaâ€" Hnlmnnn , held at the tive basis for this item. There was head e. were the inâ€" amover,invnluodllflngfluyfl crease in volume of business writâ€" of Bonds and Debentures in default. |\ten. increase in nreminm inanmea a of Bonds and Debentures in default, which were taken into our statenient at market values. Policies decreased and “:"W the total at 21 al.m.u below 1985 by $86,642.97. Bonds and Debentures increased {or lmdb‘ mo.;uu. ‘l'?. ':-‘ un lower ra *!%*2:5 and the lower yield obtainâ€" HEAD OFFICE AND FIELD CROSSHILL In conclusion we beg to draw your attention to the main object of the meeting, viz., the disposal of the Statements before you, the election of three Directors for the term of Three Years, and the election of one Director for the term of Two Years, and the election of two Anditors for the term of one year. Your Directors regret to report the death, on February 18th last, of YÂ¥r. J. H. Stauffer, who had faithâ€" fu‘ly served on the Board of Direc tors for the past fifteen years. Mr. E F. SYeagram was appointed to fll the vacancy created. â€" During the year the Company disâ€" posed of the property adjacent to Head Office, on the site of which a new modern theatre is now being erected. An additional Inspector has been appointed to represent the Company in Eastern Ontario, from which source an increased volume of new business may be anticipated. â€" Your Company has in the past year operated as an ‘"Independent" Comâ€" pany and our severance from The Canadian Underwriters‘ Association has given the Company a greater adâ€" vantage in the competitive field of Fire Insurance, which is reflected in a 207 increase in mercantile business. The farm branch of our business has again demonstrated the wisdom of careful inspection and selection of risks and is now actually a paying proposition. } The investment Portfolio of the Company is in excellent condition and after allowance for depreciated value of defaulted debentures, your Investm@nt Reserve is greatly in exâ€" cess of the government requirement. The Investments comprise 27.88% Canadian Government Bonds; 7.94% Cenadian Municipals; 26.7%% Pflbllc‘ Utilities; 26.599, Industrials; .09% Stocks and 10.189¢, First Mortgage Loans. ] _ The underwriting results for the past year have been most encouragâ€" ing, the loss ratlo dropping from & depression high of 94.78% in 1931, to a normal ratio of 37.93% in 1936, A‘1 adjusted claims have been paid and no disputed claims are outstandâ€" ing, thereby confirming the Comâ€" pany‘s*eputation for just settlement aud prompt payment of losses. f ‘The year just closed again reflects improved business conditions and ushers in a promising further imâ€" provement for 1937. In addition the Company holds pre mium notes to the amount of $217, 748, with a residue of $127,461, which are not included fh the Assets. The total amount of insurance written was $40,957,327 and, less reâ€" insurance, the net amount in force ‘!u $62,606,667. The net amount of premium income for the year was $304,311, and the total income from al! sources was $492,402., The net aAmount of losses incurred was $114, 177, a decrease of $7,305 from the provious year, and the total expendiâ€" ‘ures were $386,100. The Assets of the Company amount to $1,779.992, and the liabilities $379,â€" 663, leaving a surplus for the protecâ€" tion of Policyholders of $1,400,329. ‘The total number of policies issued for the year was 22,331, and the total number of policies now in force is 41.873. To the Policyholders of The Waterloo Mutual Fire > ; Insurance Company:~â€"â€" Your Directors have pleasure in presenting herewith the Seventyâ€" fourth Annual Statement of the busiâ€" ness of the Company comprising the ‘Receipts and Expanditures of the year and the Balance Sheet showing the Assets and Liabilities of the Company on the $1st day of Decemâ€" ber, 1936, with the Auditors‘ certifiâ€" cate for the correctness of same ap pended thereto. a Among those present at the meetâ€" ing were J. Howard Simpson, Guelph, Oscar Ruwel. Kitchener, E. J. Bauer, W. G. Weichel, Ford 8. Kumgf. w. R. Bricker, Wm. Henderâ€" son, F. H. Moser, J. K. Pickett, Geo. Cruickshank, J. A. Fischer, R. S. Bean, E. E. Rotharmel, John Gilâ€" lespie, H. M. Hoffman, Charles Moogk, and others. The retiring directors reâ€"elected were Messrs. % J. Bauer, William Henderson, F. H. Moser, and E. F. progress made, which reflected sound mmi;ment. The improveâ€" ment in business during the year indicated better business condiâ€" tions and it was reasonable to hope that 1987 would see a still further improvement. In concluding he reâ€" ferred to the death Tast year of one of the oldest directors, J. H. Stauffer, of Gait, and paid tribute to hhlltorllng qualities and wise counsel. hol crease in volume of business writâ€" ten, increase in premium income, a reduction in fire losses to a normal ?fi"m“ "'uf-.’"‘oz‘h‘?,?q‘t"‘:‘ 1981 e n s > an increase in assets as well as in :\u:glm for the protection of policy. WM. G. WEICHEL REâ€"ELECTED PRESIDENT AND J. H. SIMPSON, VICEK Continued Progress Is Reported At TAth Annual Meeting On Saturday Directors‘ Report Shows an Increase in Volume of Business in m-tu-wmuz.m..-mmm-oh the Year was $492,402.â€"1936 Showed a Normal Loas Ratio of 37.93 as Compared to a Depression High of 94.78 in 1931.â€"Assets Total $1,779,992 and Surplus of $1,400,329. Directors‘ Report oo Mutual) Fire Insurance Company . â€" Enjoys Banner Year; Improves Position Water!o0. Ont., January 30th, 1987. * Comments Mlnl:l.n:metor F. H. Moser, in a brief review of the year‘s busiâ€" ness, heartily thanked the direc office and agency staff for the 1 coâ€"operation given during the year. He was _ple&“d with the report preâ€" sented b e Directors which indiâ€" cated agudy progress. He was pleased to note an increase in volâ€" ume of business, an increase in preâ€" mium income, a reduction in losses, and increase in assets and surplus 1 uoo OCSDCCOCRORNV UUSIEUUT. For the past year we have been operating as an "Independent" Comâ€" pany, having severed our relationâ€" skip with the late Canadian Fire Unâ€" derwriters‘ Assoctation in December, 1935. For a considerable number of years your Directors had been conâ€" sidering resigning from this Organtâ€" zation, but no definite action was taken until the opportunity was afâ€" forded at the time when the old Orâ€" szanization, The Canedian Fire Unâ€" derwriters‘ Association was absorbed ‘by the newly formed Organization, Canadian Underwriters‘ Association, and the wisdom of severing our conâ€" nection has been shown in the more than 209 increase in mercantile and manufacturing business, ‘‘The Waterloo" has made progress . in the year 1936 and the Company‘s success should be gratifying to all concerned. | Waterlo0. Ont.. January 30th 1927 1 a on formed and nesariine 12 qp000 210 _j00 IC, TT PUTOIOW OV The Company wo, szzity thet in mt apimien, the beinmce shout mote Terth Faky and waly The viel of MeRiFi o7 ie (a) rl‘t.:uflh-- of the Company that have come within our notice bave been within its powers Waterioo, Ont., January 0, 1097. J. F. SCULLY, C.a.. (e) (0 the books, thereby creating much more work and worry in connection wlih this branch of the business. Gentlomen:â€" We ‘M"&"A-n:-"“'“ 10 Ti.â€"câ€"..:r'" HEREBY CE 1â€"We o o ‘ examined the within statement and compared ontries therein with the books and the said ontrics are correct. We further cortify that: i e e onindt In years gone by, it was possible for Insurance Companies to purâ€" chase securities and place them in their safety deposit boxes or vaults for safeâ€"keeping and clip the interâ€" est coupons as they became due, but the late depression has been responâ€" sible for a great many defaulted seâ€" curities and has shown that the old method of buying and keeping securâ€" itles is now obsolete. Today when buying securities the issues must be investigated and a constant superviâ€" sion maintained of th securities on To the President and W. G. WEICHEL, As the President has given you the percentages of the different classes of investment, I will be content with stating that the Average interest yield on invesments is 132%,. 200 °_A 1BEA MONte 18 a Companies ............................ Interest and Dividends Accrued. _ Your investments are very much improved over that of a few years Ago, as is shown by the decrease in defaulted bonds, and all credit for this must be attributed to the advice of our financial counsellor and to the supervision by your Directors. Balances due from Reâ€"Insurance (a) J e) C1 Book Value of Stocks Owned......... Cash on Hand and in Banks........... Agents‘ Balances and Premiums _ _1 am particularly pleased to be able to report that the farm branch of the business has heen very much improved, so much in fact that this cass of risk is now actually profitâ€" able. This business has always been A "bugâ€"bear" to the management, but due to improved business conditions, tomlmtlomn.ndboawm method of underwriting the loss raâ€" tio has been reduced to 38.40% in 1936, as compared to 48.969%, in 1985 ard to 173.63¢% in 1931. o 0 oo uio oo e io en Te ionp en e eoenneee eP €C,CCC.0U Mortgage Loans on Real Estate...... 164,588.00 Ammortised Book Value of Bonds and Debentures>â€"â€" Not in Default..$1,359,062.97 To the Policyholders of Waterioo Mutual Fire Insurance Company : â€" The Directors‘ Report reflects the progress made by the Company in the past year. Your Company has had an increase in volume of busi ness; an increase in premium inâ€" come; a reduction in losses, and consequently an increase in assets as well as in surplus for the protecâ€" tion of policyholders. ASSETS Book Value of Real Estateâ€" t _ President. Waterloo, Ontario, January $0, 1987 ‘The retiring directors are, Mesars. E. J. Bauer, Willism Hendereon, F. H. Moser and K. F. Seagram, all} of whom are eligible for reâ€"election. The Waterloo Mutual Fire Insurance Company with our independent said on are t v';f S l ;-‘â€".;-.-- PE PCVT MR PODCT ENO FetUrds af We have andited the books of the Oq:, verified :: have chocked &.z. recorve premiume :« 7:'0: e-lnlnu‘hue:::;flrh:: h.,bu'l::c.o;.:::“ That the balance sheot :: s not nbh:v as uo:u -..'G‘fi":.‘:.: ’.'.'.3'1?‘.1‘..'.‘.'1"1‘.‘.‘:.‘ . NUb oe t coaoe i ho mab ahaw on annsnicou CLpCeCTEL NE OOUT OP mom T Te adeguate; That the halance sheot doee not show as mssets unpaid balances owing by agents or other insurers who have aot h:od within the next preceding ninety days The balance not include as assets, itemes prohibited ly the Insurance Act from being shown in statemen ts ired to be Aled therounder; Uncollected ........................... Office Premises......................... Manager‘s Report at the Annual Meeting held in the Company‘s Office at Waterloo. Ont., on Saturday, the thirtieth day of January, 1987, at the hour of 1.30 o‘clock, In Default ........ Respoctfully submitted, AG U Copy of the Audited Statement presented to the Members of oY PRESIDENT 81,906.03 1,440,058.99 of The Waterioo Mutual Fire Insurance Company:â€" $1,779,992.24 _Mrs. Elias W. Martin held a qu,i_lii!w_l_)'ee on Tuesday. _ _ _ ERTOC 20e PNMIITI AIRWEUEVIIC,. Mr. Amos Weber of Conestogo was a Sunday visitor at the home of Mr. and Mrs. Enoch F. Martin. Mr. and Mrs. Emanuel Frey and family of St. Jacobs were weekâ€"end visitors at the home of Mr. and Mrs. Enoch F. Martin. Miss Matilds Martin spent Sunâ€" day at the home of Mr. and Mrs. Josiah M. Martin, Hawkesville. |_ February 2nd was Candlemas Day, and from all appearances the groundhog saw his shadow, but 'goundhog day was observed at allenstein some time ago, as a groundhog was found out in the open, bavin§ the appearance of beâ€" ins‘drowne out of his hole. + rs. M. Davis and son Alfred of London ;rent the weekâ€"end with llri‘ and duiao“.({l Adkin. Tal | r. an rs. Clarence Tallman and family and Mr. and Mrs. Esley Matthews of Kitchener spent Sunâ€" dahwith Mr. Charles Matthews. | r. and Mrs. Christian B. Frey ipent Sunday with Mr. and Mrs. lias W. Martin. Miss Ada Brubacher spent Sunâ€" day at the home of Mr. and Mrs. Onias Weber of Hawkesville. Messrs. William, Joe and Gordon Birmirifham spent the weekâ€"end with Mr. and Mrs. Andrew Bach,. Mr. Gordon Birmingham is remainâ€" ing for a week. $ 35,000.00 J. H. Simpson, viceâ€"president, F. H. Moser, managing director, and J. A. Fischer, secretary. ‘ Others who spoke briefly were Geo. Cruickshank, local u‘font of the Company, and Wm. Henderson. Officers Elected. lmmedhtelBéollowi'ng the annual meeting the Directors met and reâ€" elected W. G. Weichel, president, Mr. Orr, of Stratford, a former Superintendent of Agencies for the Com{any, under former manager ‘F‘nn Haight, commended the management, directors and field force on the excellent report preâ€" sented. J. K. Pickett congratulated the directors and management for the | fine report and stated it was indeed most creditable. I __ Superintendent of Agencies Earl E. Rotharmel read a list of fire losses for the dvear. which totalled $114,177, a decrease of $7,305 over 1985. _, A hearty vote of thanks on mo-'in tion of directors Ford 8. Kumpf and p Wm. Henderson was tendered the office staff and agency field force q, for the loyal coâ€"operation during M the year. M The auditors re-upsointed were J. ns F. Seully, C.A., and R. P. Uffelâ€" M The Misses Maria and Barbara mu. and to a change in the of underwriting. He was also pleased with the “? much improved investment portfolio. The wisdom of the Contlll:uny in severing its rolationnhl: with the late Canaâ€" dian Fire Underwriters Association in 1935 and operating as an "Indeâ€" pendent" comgnny was shown in the more than 20% increase in merâ€" more than 20% increase in merâ€" f!{l}ile and manufacturing busiâ€" }nfl a distinct improvement in the arm branch of the business, which showed a profit for the first time in recent years. It was the result of improved business conditions, to for the protection of poicyholders. He was particuarly pleased to reâ€" t 3 ts t P is o ~sple S N:,. : 4. “‘Ajl’ Â¥ zg p wH. G. WEICHEL F. H. MOSER â€" Reâ€"elected President of The Waterâ€" llan‘nx Director of The Waterâ€" loo Mutual Fire Insurance Co. loo Mutual Fire Insurance Co. 11,176.00 71,944.26 31,429.28 7,126.10 17,769.61 WALLENSTEIN WM. G. WEICHEL Surplus _ Provineial ... Agents‘ Credit Balances ............. R&Ll{lg{qncc Companies‘ Credit ance at 100 %............... Investment Reserve ......... Taxes Accruedâ€"Dominion and BD96 .s..0scescrroererrtarinintrermetrrieses Rugt:o_ for Unlicensing Reâ€"Insurâ€" Provision for Unpaid Claims............ Rolflv_! for Unearned Premiums at Balances ........... ash, bank balances and securities; required by the Insurance Act; Mivbobeladiabidihsdliha * ‘tbn F:fl'_'flli ?I__(ho C_ompnny and that CERTIFY | that we have _ caretully ind records of the Company and that LIABILITIES A S P I R 1 N At the first sign of sore throat due to a cold, dissolve three "Aspirin‘" tabâ€" lets in 14 glass of water. C'r)argle with this twice. It will act almost instantly to relieve the rawness and soreness of mr throaf. At the same time, take "Aspirin‘" tablets with a full f‘m of water. This acts to combat ever, cold aches and pains and the cold itsel{. Repeat the treatment in 2 hours if necessary. This modern way to treat & cold is approved by thousands of doctors. 8 "‘Aspirin" tablets are made in anada 33' the Bayer Company, Limâ€" ited, of WindsOr, . â€"__,__ F H. MOSER, Banns were also proclaimed for Mr. Noah W. Frey, son of Mrs. David Frefi and the late Mr. Frey, and Miss Barbara Bauman, daughâ€" ter ‘qf Mr. and Mrs. Eli Bauman, 4th line Peel. Mr. Grant MacPherson is spendâ€" ing a few days at the home of Mrs. D. W. Musser. Banns were proclaimed on Sunâ€" day at Peel Mennonite Church for Mr. Amos Martin, son of Mr. and Mrs. Sidney Martin, and Miss Hanâ€" nah Martin, daufhter of Mrs. Menno Martin and the late Mr. Martin. Mr. Jacob Martin of Elmira spent Sunday at the home of Mr. and Mrs. John M. Martin. Messrs. Elmer Brubacher and Grant MacPherson spent Tuesday afternoon in Listowel. Mr. and Mrs. Henry Bauman ?cut Sunday with Mr. and Mrs. zra Weber. Mr. Harry Musser of Winterâ€" bourne spent Sunday with Mrs. D. W. Musser. Mr. and Mrs. Martin M. Bauman spent Sunday with Rev. and Mrs. Abram Bearinger. Martin of Pennsylvania visited in thi: vicinity during the past weekâ€" end. Famous 1â€"2â€"â€"3 Method other insurers whose accounts SORE THROAT RELIEF TRADEâ€"MaRK mzo , Auditors Managing Director Ts P $1,779,9092.24 $ 13,000.00 256,915.63 â€" 2,091.56 , 100,000.00 7,500.00 76.83 8 79.18 1,400,829.54 the annual