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value is received from such expendiâ€" Unfortunately our attitude toâ€" wards Government spending is diâ€" rectly contrary. Any outlay in our community by a Government is often !dlubnd{‘nordod as a m without appreciation of the that it comes from our own pockets. It is our duz.u patriotic citizens interested in future of the naâ€" MUTUAL LIFE UNBROKLEN RECORD OFf CAINS tion to see that the same economy of management is observed in its fiscal affairs as we would apply to cur own E‘IOBI] and corporate exâ€" penses. mands upon ‘the 'gublic purse for the promotion of this or that project without consideration of its absolute necessity should cease. Our Dominion and Provincial Governments should be° encouraged Â¥ 1 I "‘l: s -JI ! I to provide in their budgets for earâ€" lthe people by strictly confining conâ€" marking any surplus of revenue for|ditions to their own legitimate the repayment of debts in order t.lni@utie-â€"by leaving capital to find its (Continued from Page 4) SURPLUS FUNDS at December 31st, 1937, consisting of: General Investment Reserve _ â€" â€" â€"~ â€" â€" $ 2. Policy Reserve Adjustment Fund _ â€" _ â€" â€" â€" _= 1. Free Surplus for Contingencies soue 0s s + § INCOME: Premiums for Insurance &0 0k 00. > Consideration for Annuities _ â€" _ â€" _ â€" Interest, Dividends and Rents [after proâ€" vision for possible future los‘ses) â€"" & Consideration for Settlement Annuities arising out of assurance policies â€" _ â€" Policy Proceeds, Dividends and Other Amounts left with the Company â€" _ â€" Net Profit on Sale of Ledger Assets and Exchange â€" â€" â€" â€" =~â€" * * EXPENDITURES: s Under Policy Contracts: Death and Disability Claims â€" _ â€" _ â€" Matured Endowments _ â€" â€" â€" â€" Surrendered Policies â€" _ â€" â€" â€" _~ Annuities | â€" > 0 â€" 0 â€" 0 â€" o â€" o ~ Settlement Annuities â€") sls e > Policy Proceeds, Dividends, and other Amounts Withdrawn â€" â€" _ â€" > Taxes and Licenses. This amount includes payments to Federal, Provincial and Municipal Authorities | â€" _ â€" _ â€" > General Expenses covering the cost of Head ‘Office and Agency Administraâ€" tion, commissions and other expenses â€" Amount â€" Written Off Head Office premises c . Net Amount by which Real Estate, Sale Agreements . and Mortgages were written down â€" â€" > > > > Increase in Actuarial Reserves and Amounts left with the Company â€" _ â€" SURPLUS EARNINGS FOR YEAR RESERVES: Special Charges: Provision for Depreciation in value of Bonds and Stocks â€" â€" â€" â€" â€" Increase in Specific Reserve against loss of principal on Mortgages and Sale Agreements â€" . â€". â€" â€" _ Transferred to Staff Pension Fund _ â€" Net Amount Transferred to Surplus Funds Deduct: Surplus Paid or Allotted to Policyholders SURPLUS FUNDS at December General Investment Reserve _ â€" Policy Reserve Adjustment Fund Free Surplus for Contingencies â€" R. 0. MeCULLOCH W. 6. WATSON _« > > T. A. RUSSELL, LL.D. > > ISAAC PITBLADO, K.C.. LL.O C. F. SSE ie W. 6. MURRIN . > > W. H. SOMERVILLE AJA., AAS J. M. LAING, AJA., FAS H. HOLMES, AJ.A.. FAS.. J. M. LIVINGSTON, M.D. A complete report of the Proceedings Company, Waterloo. Ont.. on Thursday, UTUAL President Galt W. H. SOMERVILLE Waterloo Combined Profit and Loss and Surplus Account Assurance Company o General Manager AJA., FAS. . _â€"_ Actuary ALA.. FA.S. â€" Associate Actuary Revenue Basis (For year ending December 31st, 1938 ) we have to go %w f depression sim to that vlic”t“: :o have only recently exâ€" perienced. g:' article which appesred in the w« i‘-"'lm ‘"“'" as as January, 1830, m“fiamm function of Government in a way which seems to me to be so peculiarâ€" ly applicable to the present day that I should like to quote an extract OF CANADA we will not be found unprepared if from it "It is not by the intermeddling of Mr. Southey‘sâ€"the ommiscient and ommnipotent stateâ€"but by the pruâ€" dence and energy of the people, that England has hitherto been carried forward in civilization} and it is to the same prudence and the same energy that we now look with comâ€" fort and good hope. Our rulers will best promote the improvement of ‘the people by strictly eonfining conâ€" ditions to their own legitimate ompany â€" â€" $ 8,318,820.14 or ony Medical Director cceedings of the Annual Mesting held at the Head Office of the Thursday, February 2nd, 1939, may be obtained from the Head Office r ony of the Company‘s Branch Offices. â€" _â€" _ Toronto â€" _», _ Toronto â€" _ Winnipeg s Montreal Vancouver, B.C. BOARD OF DIRECTORS Established 1869 ‘THE MAJ. 6EN. HON. S. €. MEWBURN, K.C.. CM.6 31st, 1938, consisting of: OFFICERS $16,991,710.32 1,140,349.53 $ 3.943,285.48 2,170,487.26 4,549,078.47 17341948 215,958.88 $13,311,606.24 $ 327,366.59 $17,312,410.98 $ 91,092.07 7.114,919.02 3.963,177.21 2,259,316.72 3,066,134.35 436,050.90 2nd Viceâ€"President, Hamilton GLYN OSLER, K.C. +0 + ons Toronto J. FRED FRASER k00k) 0k 0+ Halifes J. E. PERRAULT, K.C., LL.D. Arthabaska, Que. C. H. HOUSON . â€" _ â€" _ Chatham, Ont. ©&. BLAIR GORDON â€" â€" â€" _ â€" Montreal 41,477.55 557,303.80 136,526.42 225,296.00 A. &. PEQUBGNAT, AlA, FAS, _ Assistant General Manager H. M. COOK, A.IA., FAS. â€" . Secratary W. CARLISLE â€" Superintendent of Agencies 50,000.00 H. L. GUY, FAS cculiarâ€"| "Let the G ay that|the People w extract | rest." fuee t id m of | pany | nt angd|number of Ca he pruâ€" b& it have a; $ 2,000,000.00 â€" 1,200,000.00 â€"â€" 5,214,73642 $30,287,684.53 â€"$ 2,000,000.00 â€" 1,500,000.00 $25,631,231.12 4,650,453.41 $ â€"452,914.49 most lucrative course, commodities their Wo. industry and intelliâ€" genee natural reward, idleness and folly their natural punishment â€"by maintaining peace, by defendâ€" ing property, by diminishing the I aa ma id C NREtee 2C :z-olfio‘nw.udbyobunmg strict economy in every department "Lst the Government do thisâ€" [lh ”Pu.lo will assuredly do the The steady growth of your Comâ€" pany and the increasingly large number of Canadian citizens served by it have again necessitated anâ€" other increase in the facilities of Head Office. This is the third addiâ€" n to be made since the original building was erected in 1912. of the state. In the comparatively brief span of twentyâ€"six . years, we have been oblm to more than triple our worki space. It may be said that the present size of our Head Office and these consecutive enlargements IFE §,1172,909.02 tou!$ LeCOURSE LANG Ist Viceâ€"President, Kitchener $8,414,736.42 $12,618,275.34 $4,203,538.92 3,345,366.32 9,272,909.02 Treoswrer €#HE WATERLOO (Ontario) are but the visual aspect of the steady progress which your Comâ€" pany has made throughout the years. For, although not in all inâ€" stances are magnitude of building, plant and number of staff measures of the value and esteem of the pubâ€" lie for the service rendered by a corporation, nevertheless the rapid expansion of this office has been oecasioned by the growth of our whole organization, by the increased amount of insurance in force and invested assets, “rtd, :ymvht is of even greater impo e growing body of ‘wlicyholdm hyvin&tfnngh- out the length and breadth of Canâ€" ada who regard their Mutual policy as the foundation of their personal savings and a reliable source of asâ€" sistance in time of need. _ â€" It is a farâ€"cry from the present commodious quarters to the first structure erected sixty years ago in 1879. It was built at a cost of $6,000.00 and yet in relation to total assets and insurgnce in force was as ‘large as the one we possess today. Such has been the extent of our 'progress. The acquistion of this site has enabled us to add to our office as additions were warranted by our growth. It has relieved us of the necessity of erecting at one time a fully integrated building sufficient to provide for what might be deemâ€" ed the ultimate expansion of the Company and thus tying up much capital for a long period without immediate benefit or return. The grounds at our disposal have perâ€" mitted the pursuance of a rational building programme whereby from time to time needs for the ensuing ten years are taken care of by supâ€" plementing existing facilitiee with the new units harmonious in archiâ€" tecture with each other. When the first unit was opened in 1912, we had seventyâ€"eight million dollars of insurance in force and twenty million dollars of assets. On December 31st last, our insurâ€" ance in force had reached the total of five hundred and fiftyâ€"nine million dollars and our assets were over one hundred and seventyâ€"eight million dollars. Ne Twentyâ€"six years ago we hadj thirtyâ€"nine on our Head Office staff, and today there are three hundred and sixtyâ€"five. If one were to peruse the figures for the intervening period, the advance would be found | to have been steady and consistent.‘; Surely we may be pardoned if we | interpret this steady growth as eviâ€"} dence of the favorable response, which the application of the mutual principle to life insurance has met and the widespread appreciation of our Company for what it symbolizes and for the service it is rendering. The addition under ‘construction, which is expected to be ready for occupation on June 1st, next, will contain approximately 47,000 square ‘feet of floor space. It will not only provide accommodation for several departments which are at present somewhat overcrowded, but itâ€" is estimated that it will meet our reâ€" quirements for the next ten years. It was felt by your Directors that it was advisable to anticipate these future needs at this time with costs at reasonable levels and when the interest rate on long term money is very low. â€" _ . Plans have been so drawn that as expansion occurs in the years to come an efficient symmetrical office building will evolve. |___ _ _ _ M omae esc noe in ies Although it may be difficult in the: face of the many economic and political problems which confront us to be assured of the same growth in the future as has taken place in the past, nevertheless 1 am confident that it will come. It gives me a ‘great deal of pleasure to acknow: ledge the very efficient services of our office and field forces in the past year and I wish to express the thanks of your Directors for their continued efficiency, loyalty and coâ€" operation. _ . . A wim};;;.é’ pleasure in moving the adoption of the Directors‘ Report. Charter Bus To Toronto Game. ‘Thos. Birmingham â€" accompanied the Wellesley hockey fans, who charâ€" tered a bus to Toronto, Thursday evening. where they witnessed the Boston.Maple Leafs hockey game. Mrs. E. Squire and family spent a day with her sister, Mrs. W. Taylor Mrs. E. Squire and family spent a day with her sister, Mrs. W. Taylor at Peffers. Mr. and Mrs. Campbell Shantz, Ralph and Herbert Berg, Grace Pitts, Jean and Ed Hammond attended the skating party in Linwood Thursday vvening sponsored by The Linwood Henry Schmidt and Lorne Rennie attended the Waterloo County branch meeting of the Ontario Field Crop and Seed Growers‘ Aséociation in Kitchener. * Attend Crop and Seed Meeting. Amang those who attended the proâ€" pressive euchre and dance in Millâ€" bank recently, were Mr. and Mrs. Thos. Birmingham. Mr. and Mrs. C. Shantz, Jean and Ed. Hammond, Mil dred Schmidt and George Squire. Jean was successful in winning the lady‘s prize. Enjoy "At Home". Misses Grace Pitts, teacher of Crosshill School and Dorothy Skinâ€" ner of the 5th line school attended the Stratford (Normal School "At Home" Friday evening and spent the weekâ€"end at the former‘s home near } Shakespeare. Service was held at the home of John L. Hammond on Sunday after which Rev. and Mrs. Mather and daughter Muriel spent the evening there. Mr. and Mrs. (R. E. Foster and famâ€" ily of Linwood visited at the home of Mre. R. Foster on Sunday. â€" Jacob Snider of Waterloo is visit ing with W. Wilford and son. Plowmen Will Meet. Attend Funeral. Quite a number from this vieinity attended the funeral in Glenalien on Thureday of the late Mr. John Sanâ€" derson. © ; Mr. and Mrs. John Jackson visited Thursday with Mr. and Mrs. Emmerâ€" son Matthews. â€" Miss Jean Thompeon of Winfleld «pent the weekâ€"and at the home of Mr. and Mrs. Norman Matthews. . Mr. George Melitzer of West Montâ€" rose spent a tew days with his sister, Mr. and Mre. jon Martin. CROSSHILL YATTON CHRONICLE Mrs. 8. G. Wismer was presented with the lady workers‘ ecout badge at the meeting of the Waterloo Scout Mothers‘ Auxiliary, held at the home of Mrs. Harold Littler, Tuesday Mrs. Valentine Henry, Alexandra Ave., Waterloo and Mrs. Jacob Seiâ€" bert of Kitchener, visited Mr. David Meyers, who is il} in Elmira, recently. Miss Babette Blomfleld of Toronto is the guest of Mr. and Mrs. D. A. Bean, Roland. Ave., Kitchener, durâ€" ing the Ontario Badminton championâ€" ships held at the Granite Club this week Hear Of Mission Work In North Observing Christian _ Endeavor week, the local U.B.C.E. held a special meeting recently at the home cf Mr. and Mrs. E..Perrin. A short song service was dnjoyed and the Scripture Lesson was read by Harry Hilborn. Prayers were offered by Mrs. C. Swartz and Mrs. A. Sheby and a pigno solo was rendered by Miss Evelyn Hilborn. _ ‘The guest speaker, Mr. J. Anderâ€" son, of Knox College, Toronto, jspoke of his experiences in home mission work in the north. The president, Miss Bessie Hope, preâ€" sided during the meeting and the social committee took charge of the games. The serving of lunch brought an enjoyable evening to a close. The February meeting of the Women‘s Missionary Society and )Lndies' Aid was held in the Evanâ€" {gelical Church on Wednesday afterâ€" \noon. Mrs. Elmer Detweiler was in §clurge of the devotional period, the ‘theme of which was "Prayer‘". A ‘number of the members took part !in a season of prayer. The Mission Study was taken b{ Mrs. D. Lockie ‘land â€" Mrs. Holtzhauer, Current *Events by Mrs. Edgar Latsch and Leafiet Reading by Mrs. H. Hallman. | A voecal solo, "An Evening Prayer", was rendered by Mrs. Detweiler. ‘‘The president, Mrs. Grenzebach, ‘presided for the business session at which time plans for the year‘s _work were discussed. |__Observing the Day of Prayer, the |Women‘s Missionary Society will present a special program in the _ Evangelical Church on â€" Sunday morning, Feb. 12. _ _ _ Prayer Is Theme Of Meeting Mr. and Mrs. Weston Sararas and daughter, Vaughn, of New Dundee, were Sunday visitors at the home of Mr. and Mrs. J. Hope. e _ Mr. Elmer Stoltz attended the Swine Breeders‘ Convention at Toâ€" ronto on Monday and Tuesday. _ Sunday visitors at the home of Mr. and Mrs. Clayton Swartz were Mr. and Mrs. Clifford Swartz and Mr. and Mrs. Roy Swartz of Kitchâ€" ener, Mrs. E. Menary and Mr. and Mrs. Jack Tunn of Galt. | 0_ _ Mrs. Wm. Detweiler visited with Mr. and Mrs. Charles Lang at Ayr on Friday. _ _ _ . 0 2. , _ Mr. Roy Stoltz of Galt visited with his father, Mr. A. E. Stoltz, on Sunday. _ __ eeie Mr. and Mrs. Eph. Fried were Sunday visitors with Mr. and Mrs. A. Schweitzer at New Dundee. Miss Isobel Clelland of Ayr:and Mr. J. Anderson of Toronto were recent guests at the home of Mr. and Mrs. J. Hope. _ Social = Personal H _ Mrs. Elmer Stoitz spent a few days this week wth Mr. and Mrs. Roy Stoltz at Galt. _ _ _ _ ____ td Minatiinditanttonts d stt The executive of the Roseville Literary Society met at the home of the president, Miss Eva Becker, last Wednesday evening. . Robert Stager of Toronto is conâ€" valescing at the home of his parâ€" ents, Mr. and Mrs. E. Stager, folâ€" lowing a recent operation. Bible Class Meots. The Bible Class of Zion Lutheran Church met Monday evening at the parsonage. The president presided. After the singing of a hymn the Vesper service was followed. Rev. G. R. Schultz gave the lesson, taken from Acts, Chapter 24. The meeting closed with prayer. Messrs. Armand and Stanley Doerin% spent Sunday with Mr. and Mrs. heo. Forler at Doering‘s Corner. + + Mrs. Annie Seyler spent Monday with Mr. and Mrs. Wm. Seyler. Mr. Earl Eidt spent Sunday with Mr. Alfred Gretzenger at Octzel‘s Corner. Mrs. Theodore Doering is spendâ€" im;l some time with her sister, Mrs. John Wahl, at Gadshill. * Miss Marie Doering spent Sunday with Miss Minerva Cook at Amulree. _ Mr. and Mrs. Emmanuel Berg and daughter Helen of, Waterloo visited gonday with Mr. and Mrs. Ludwig erg. _ s _ Misses Marie and Irene Doering spent Friday with Miss Martha l_!erfg_. _ Mr. Stanley Doering sf:nt an evening at the "At Home" in Stratâ€" ford. _ Attends Wedding. Mrs. Annie Seyler attended the Hohlâ€"Seyler wedding at Lisbon reâ€" cently. _ S e 8y O Mr. Howard Snyder spent Sunday with Mr. and Mrs. Irvin Mohr at Burnside. Master Walter and Donald Mohr ;isited Master Deliton Eidt on Sunâ€" ay. + "-firs. Clayton Mohr and Miss Otillia Mohr spent Tuesday afterâ€" noon with Mrs. Clayton Seyler. _ __Mr. and Mrs. Louis Doering and Miss Emelia Doerin*r spent Sunday with Mr. and Mrs. Elmer Doering. _ Mr. and Mrs. Chfiton Mohr and Mr. and Mrs. Irvin Mohr off Burnâ€" side s(rent Tuesday with friends in Floradale. L s s § Mr. Norman Gerth of Waterloo is gendin% some time with Mr. and rs, J. E. Doering. Mrs. Annie Seyler s?ent Sunday with Mrs. George Schmidt. _ hr-We;l;{ Bo;flrig returned to Wellesley after â€" spending a few weeks at his home here. £ _ Miss Hilda Doering is spending some time with Mr. and Mrs. John Echamber at Burnside. PHILIPSBURG High score winners at the Tues day Duplicate Club were Mrs. J. G. Brown and Mre. A. N. McTavish. Mrs. Frank Stamley and Mre. F. Breithaupt were second and Mrs. T. H. Wells and Mrs. Walter Bean, _ Mrs. George Watson entertained the members of the Queen Esther Missionary Auxiliary of First United Church at their February meeting at her home, Charles St., Tuesday night. A successful card party was arâ€" ranged at St. Louis Hall, Tuesday night ‘by the Roman Catholit Woâ€" men‘s League, under the convenerâ€" ship of Mrs. F. Huber. HESSON R.C. Ratepayers Would Reâ€"open Tax Question ‘The Roman Catholic taxpayers‘ association held a meeting recently, the purpose of electing members to reopen the Separate school tax quesâ€" tion with a view to approach the govâ€" ernment for an amendment of the Assessment Act to permit a fair share of corporation taxes to Separâ€" ate Schools. Officers elected for the year were: Mr. Albert Haid, president; Mr. Leo Girodat, secretary; Mr. Clarence Foerster, treasurer. Mr. Gregory Schiebel of Embro spent the weekâ€"end at his home here. Mr. Clifford Kennedy spent a day at Stratford\ Mrs. Lewis Veitenheimer has reâ€" turned home after spending a few weeks at Windsor and London. Mr. Isador Moser made a trip to Kitchener Sunday to call on Mrs. Moser, who is under the doctor‘s care. Mr. and Mrs. Len Harrison and son Don and Miss Kay Hanley of Guelph spent Sunday with Mr. and Mrs. Dennis Hanley. Mrs. Robert Dewings, who has been ill for the last few woeks is improving slowly. â€" Mr. Clarence Logel of the 13th line spent Sunday with Mrs. Pat Doâ€" herty. t Mr. John Vietenheimer of near Stratford spent the weekâ€"end with friends of the village. Mr. Leo Girodat spent Tuesday at Listowel. Mr. and Mrs. Mahlon Zebhr and family were recent visitors with Mr. and Mrs. Moses Bender and family. Mr. and Mrs. Dan Wagler and famâ€" ily were Sunday visitors with Mr. and Mrs. Dapiel Zehr and family. Mr. and Mrs. Oscar Woicker wore recent visitors with Mr. and Mrs. Henry S. Wettlaufer and son. _ _ Recent visitors with Mr. and Mrs. Solomon Bender and family were Mr. and Mrs. Aaron Brenneman and family and Mrs. Aaron Bender and family. Mr. and Mrs. Christ Baechler were Monday visitors with Mr. and Mrs. Ezra Bender. M 7 Misses Dorothy and Elda Helmuth were Sunday visitors with Miss Floâ€" retta Roi. Mr. and Mrs. Henry Woil were Monday visitors with Mr. and Mrs. Stanley Riebling. EAST ZORRA mpanirm H P T e *, y &ff{ 10 zw3 aboutFISH MORE AND MORLE, housewives are tellâ€" ing each other about the endless variety of inexpensive dishes thit can be prepared from Canadian Fish and Shellfish . . . dishes that fairly sparkle with appetitcâ€"appeal and make hungry busbands clamor for more. Over 60 different kinds of Canadian Fish and Shellfish are available to you all year ‘round, whether fresh, frozen, smoked, canâ€" ned, dried or pickled . . . packed with deliâ€" cious flavour and vitamins that build up glowing health and strength.. Serve fish several times a week. Try the other grandâ€" tasting recipes contained in the new free Fish Recipe Booklet. Loonardo do Vinci is probably best kmnown for his pointing, "Mene Liss". # was be -hlmlilu,d-l-.t.--o-b signol appecrance that had prevailed up to hhfi-.hâ€"-dllfl‘dmh gave his pointings depth. Da Vinci‘s secing oye quided his gifted hand; and another forward step in progress was made. Eyes guide 80% of sw ections. They give vs, too, §3% of our knowledgs. How important it is that vision be cleor and sharp. Good vision means better work, hagâ€" pier playâ€"greater safety. P~ sere that your vision is good. The only way of knowing aot ""astuming*‘~â€"is to have your syes exagined ot requiar intervals. â€" M JANSEN EYESIGHT SERVICE "Dedicated to Better Vision" 10 Frederick St. Phone 853 RAIL BARCAINS DOWNING, STEEN and Co. Goingâ€"First train 6.05 p.m. Feb. 10 Return â€" Last train from Detroit 3.05 a.m. from Chicago 11.59 p.m. Feb. 14. A perfected method. No elastic. No leg straps. _LIGHT: INEXPENSIVE. GUARANTEED. Investigate. Write or 86 King St. W. Phone 1800 Smith lln--het-rin! Company Dept. B. 536 King St. PRESTON, ONTARIO Established 1898 FRANK®‘S Jewellery Store Murray S. Munn, Optometrist 14 King S. . WATERLOO â€" Phone 58 Chicago' â€" $12.00 Detroit â€" â€" $4.30 Windsor â€" $4.30 Consult Agents â€" Ask for Handbill Canadian Pacific City Passenger Agent 120 King St. W. â€" Phone 585 Kitchener, Ont. FEBRUARY 10â€"11â€"12 Gives Us 83% RUPTURED? FLORISTS EYES EXAMINED ROUND TRIP KITCHENER Add+ to PAGE FIVE Please send me your free Booklet, ©100 Temptâ€" Department of Fisheries, Ottawa. letters plainly) h Recipes