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Company Enters 76th Year . . Executives Review Achievements - Insurance in _ Force $723,000,000 . Policyholders Exceed 180,000 cc; c. P. an... Mise ohm, Tomato. tjiiciirauiiii- LU 69.73;? 373:3 limo? , there already men- “and. o own are when g the Board: R. 't Berktnsttnw, to; G. Blair Gordon. Montreal; Gordon C. hitch. Toronto; June. Y. "when. KC., Toronto; J. . Pei-nun. KC., LLD. Monte-1; an: rut-11c.» K9. um." Eimti- tiitei, F, a year. About half of this is being obtained- by the heaviest taxation, many times greater than has ever eatsted Tiltttt in Canada. The other ha f is obtained by borrowing from our own people and giving them in exchange for their savings Victory Bonds and War Savings eeetitteates. Can that be maintained indettrtitely? Of course it cannot. Agriculture. maryrfacturing, mid. hm lumbering, fishing, domestic‘ I export trade. ttnance, transm portltion. and all other de rt- menu of national activity if“. been operating under conditions of extreme emergency, very different from any experienced in the put. I: it not true that economic 'eoid dnlons in this country, us they Consider for "example the tletd of ttnance. The country is spending between Aye and sjirr billion dollars ABNORMAL Economic conditions in Canada are abnormal and have been ab- normnl since the beginning of the war in 1939, and it is probable that they will remain abnormal until tho end of the war and for aeveeat years - its conclusion. This is a very important tact because lay assumption on the part of the Cana.. in: people that present economic conditions can. be continued and be- come usual and normal. or nearly; so. will lead to economic disaster.) Main; and loss of those on active service and the civilians of occu- pied countries. " we may refer with legitimate Ede to what Canada has contri- ttt ,t"if,',e,ig,'ere,'", “Witt g r 1 W1 ne re In n the still greater Jligleg and achievements of the ttgl',', ot Great Britairr-eiviiians an my‘ forces alike-which have been the foundation upon which the ,iili) use: of the last two years have been built. The glittering summary of what the people of Great Britain have done. a long and glorioqs list, irGiiGrcii' i"s"fi"U"t2' t"tiC"irgfn"'ot extreme brevity in the White Paper may issued, should he read and "one 'by every one of us. ECONOMIC CONDITIONS whee?! well io Aar-iuia -riiFf have uttered many inconveniences. up! all ot these are or I minor The people of the North Ameri- can f'l',',Si",g',,t 2't, escaped can- - an s ave ' very narrow margins. and “a is a fact to be kept very clearly in our ninth when we are tempted to alip into self~pity or to devote too much thought and attention to our own grate difNuities. We should en- - to keep ideas and situa- tion- in their proper. balance. The ml: who are making real acri- m'thoae who are in the armed and auxiliary services and their re- lativaa who are suttering anxiety _ uncertainty and grief in cases 'trl death and diaablement. Nearly " Canadians have worked harder than usual They have given gen- etogslg to tjltarities and have aub- SACRIFICE or All!!!) NICE! still raging? Even in the sixth at ot the war, are “tropic of an- min and the Unit States tally giving all they can in a mighty effort to achieve Vida?" " the earliest possible date? ave we made every necessary saCHttee of which we are capable? Until we can answer these questions we have no right to feel Mttisfted in regard to our national and individual obtt- Eldon; Barely, in the sixth year. is time for us to determine that the war comes Brst and that our spiritual, mental and physlcal pow-1 en about! be concentrated on win-: In: the victory and achieving the “mum" f twig 3n'tiie 55:53.3 World Was- number two In sun will: on its terrible course. in 1939. thought that 1065 mid Vial“! (big trlotsal 1onitiet Mr.LL.uassPtxraident,andMr.W.H.Smterviiie,vie+ President and General Manager, addreaud the meeting. It was pointed out by Mr. Lang that during the past tseventy-five year.- the Mutual Life has paid $08,000,000 in dividends to policy- holder. and benetieinriea, $01,000,000 in death and disability china, and $125,000,000 in maturities, etc., to living policy- holdera and henefieiariets since 1869. 1g0,000 policyholders are insured in the Company. Complete address of the President follows, together with a mm of the address delivered by the 1liee-Pteaident and General Manager. Mr. Sonia-ville. A In“ number of Ion! ad wow-town policyholder- attended the 76th Annual Meeting of The Hutu-.1 Life of Cland- " a, Head OtBetnt Wategioogn “My WV tra. 1. It was reported by the Company’s executives that the mm which the Company bu enjoyed each year since 1869 was continued in 1944, a record amount of new imsuranee-- '6tk106,9S1--heing sold last year. Total ittettmatee in tome now exceeds $5,000,000. Record Number M New Policyllolders Joined Mutual Life in 1944 . President’s Report CtSEXZE New Director Elected with the labour Munch; (in 'mm"“"" a l What. then, are come of the card- inal concepts that mun guide at tf we we to continue our journey me- e.emdysiWottthenrartir-ake freedom? Among them ere: recog- nition that thunder is end mun be the founghtion at today eon- unued emphasis on the Rafi,' of all pep. in Iggy“ otyye law; the f'Jgte/t',! of opuimsriiik,Gk4f. P." ot Pey.t.ity. reut, "It!” or. CHARACTER FOUNDATION or rurr.-sutuiaiftre-iiriiiiis only as human nature itself I: alum under the growth of con- science and character. The Berg fume ot war is coming tho dro- of Millet-cam to our prim- len haiku of liberty. pernilnengiv unite to 75166?â€" in; blast}. liberty are ttrin y in- grain in the "you ofAhuman m- The way to freedom will not be long enjoyed by whole who are ignorant of the o tacks it has had to surmount in the past. We are today discovering for ourselves what our forehthen knew from study and experience; namely, that the principle: on which men can ( All men must have the right to ’choose who shall rule over them-- political freedom; to worship. think. lspeak. write. and assemble as they with-civil and relifious freedom; and to work to acqu re property at lawful vocations of their own choosing-economic freedom. Thus the religious principle of the dig- nity and sacrednm of every human soul lies at the root of all our liberties. ship, which will measure its achievements. not merely by the balance sheet. but also in terms of its success in agplyinx the prece ts ot the Golden ule and by strive: towards the goal of security I prqueriw for all citizens. I Side by side with the wholesale destruction which war involves, a great deal of constructive thought on world trade is engogmg atten- tion in the allied countries. Mutual arrangements. made necessary for the prosecution of the war, are he- ing extended to provide for postwar conditions. Industry and commerce will need extensive reorganization. ‘Canada's real wealth is her pro- ductive capacity and her ability to exchange surpluses with other countries. After the war. Canadn will have greatly enlarged prpduc-l tion facilities. many new products, Peat numbers of drilled producers, arfe and varied demands tor goods ’wh eh have been denied to the pub- lic. and a larger reservoir of sav- ‘ings than she has ever had in her liiitjii' We must capitalize that opportunity in democratic fashion Fi preserving personal liberty. by latimulating individual initiative, by encouraging savinf and thrift. by releasing the vast ones of a social- ly conscious private enterprise "B- tem, ir1tpretrtiated fromfgplo bot- tem, ,i,'i't'rlle,ffed, hem top to bot- tppt wi I spine of useful steward- lays win be inevitable. and we must recognize that everything de- sirahie cannot be done overnight and some degree of patience will he essential. Been in theIIahtlgaervicesbe 1ttt,elt'llt,ed in ci_blli:n life Ir! e every you: way WI - in the "WI'.', of the peopterof Canada. e have to shift as quick- ly as possible from a war economy to a peace economy. This. will not be achieved by my grandiose plan. ‘but r9013; by! ,ei,'tiT,'"',t,g,'f, every organza n om eve ng m sible in their 11515 to make the economic dimes -wNeh_wi11 _be We must put the war thst until it is over. but we all have at least a little time and en to think about what is coming Wer the war and how we should get ready for it. A: a matter of fact. a consider- able amounl of planning Ind pre- paration has been done y the Do- minion, provincial and munldpal governments. and valuable achieve- ments have been nude and are being maze ST, 'l'd'T, prince em- pames an p " mm. acting ‘in the'tie= in urge!) they are ‘experienoed. ( There are vital tasks ahead of us/ and I am going to refer to some‘ of them very brieftr. A prime ob-i ieetive must be that those who have 'be general gainful occupation or. as some people all it, “full em- ployment, forever in Canada. without any mm econ on the pan of statically everybody. we are hea ins for a iT,".' deal vol ‘trouble. If we think re is always going to be plenty of borrowed money about, for us to pass from g'a'uT,tgg'g'ag'Ag','rglf,',; dren and mndchil n are icing to suffer from our mistaken den and lack of preparation for the future. Cumin huisaireiiasad iii-EVE; cue ot inhtitm? - _ " we mph thtCthere is ttping to atreet those in various occupations. an artificial and temporary? " is not wise to 'gagige, now that. In spite of the adm hie handling of gut 'etetarr and. price_ problem; ,r,eviri,,t,'.,r, and treneaciai. Some del we wilt be inevitable. and we ”8"“ we ago would seem primitive. Th BIRTH OF MUTUAL . early models of our motor cars an: " is natural that, in conditions aeroplanes were very crude in con such as these. the idea of mitigating struction and performance com the financial loss by death, uhieh pared with the developments whicl must ultimately come to each, by have Since taken place. There ham distributing the impact of its blow likewise been many changes in tht among the many. should gain in- practice of life insurance since out gauging and tantalum fg,'etrh flrst policy was issued. n e surroun ng a p ere o enterprise and community spirit, a AGENT MISPENSAILI mutual company, launder! ass legal The life insurance agent in tin benefit, spread throughout Canada mrly days was strictly a sale-nan until today there is not a city, town Tho policies he sold were usually or hamlet that does not share in the more simple forms of life con, the protection first offered to citi~ 'racts, and for small amounts. But tens of Water8oo County and On- he purposes for which life incur tario. The idea of mutuality in life 'rece may be usefully employed Insurance wasanew one in Canada. ave been expanded, and t e el- No one interested in the project at ffcient agent must be a great deal it: Inception would have thought " mire than a salesman. In fact, r,',:",,".': that within the seventy- modern life insurance salesman- ve years which followed our Com- 'hip has taken on many of the pany .would estibllsh the record of ”hararteristlcs of a profession. To vigorous and efBeUnt PM". he surcmtul from the standpoint which the not. exhibit. or that the , both sales and service. the lite varied and improved classes of insurance rrpresentatlve of tow troetettts, which our Company pro- must he thoroughly prepared, must vides, would be and have been en- equip himself to act as a competent joyed by thousands ot policyholders tami y adviser in many matters and berteNlarteI from coast to mrtaining to domestic flrtancitu coast, As illustrating this progress requirements. both present and we may refer to the growth of the future, as Well as to know and ex- Company in service to the policy- plain eRkierttly the "WHY kinds of holders and in fhumcftrt resources policies available and the annual for their security. at intervals of merits of ade quote flrumcittt protec- twenty-ftve years. hon His Strvmel. " enumerated At the end of the am twenty. by one long experienced in the ttve year period, 1304. the Com- "miners. lme been summarized as party's policies in, force rovided irrigrnmmmg the diltrlbution of rotection of $i8,T60,000. Q‘wenty- proceeds of life insurance polldoi; gum later. thh amount hid t constant study of laws relating risen to UfQhtlt and on It: to taxation and succaadon Oath; teevetttr-a h aminnary. to ”ll-arranging ttrttefFr, charge. a At the time of Confederation there was no public communication service between the Maritimes and central Canada, and it was not until 1878 that the opening of the Inter- colonial Railway established a direct route with regular service. Three-quarters of a century ago there was no communication ser- vice by land from eastern Canada to British Columbia. Except in the case of such people as ',t,"egy all commerce had to go by vesse I around Cape Horn. However. in 1885 the Canadian Pacific Rall- wast transcontinental line war completed. The great increase in population in the Prairie Provinces and British Columbia coincided with Canada's greatest period of immigration from the turn of the century until the First Great War. With the adogtion of a national Lpolicy in 1879, anada decided de- 'ftrtitetr upon a policy of manufac- turing expansion. The meant cen- ‘tury has experienced tour develop- ments which have had, and are having, a profound effect on the country as a whole; the develop- ment of the West; the First Great War; the extension of inter-Empire trade; and the present war. Assurance Company was ineorpor- ated, to later become the Mutual Life Assurance Comrny of Can- ada. The Dominion o Canada then comprised only the Province. of Ontario, Quebec. Nova Scotia and New Brunswick. A few years later Manitoba became a province And British Columbia and Prince Ed- (ward Island entered the Dominion, tn 1871 the ttmt census_wu taken and showed a population of 3,689,- 000. barely 100,000 of whom lived west of Ontario. ahe latest census.‘ in 1941, shows a population of ll.500,®0. l CANADA " YEARS AGO Your Company commenced busi- ness in 1870, and we have completed our seventr-tifth no. In not. by §n_Act_9f In; Legislature ot On- an Act of the Lefmuure ot On- Iario. The_Ontarro Mutual Life arbitrary bureaucratic power to a necessary minimum, and recogni- tion that "government" is admin- istered by individuals whose opin- ions are as fallible as those of other citizens and whose function: are those of servants. not masters. of the community; the maintenance of an independent judiciary. economy and eMcienry in every phase of government activity; equitable‘ taxation; and competition in busi- ness regulated by a deep sense of} social responsibility. [ For seventrthre years this Com- I',',',',',,', has preached the gospel of reedom - freedom from want, freedom from fear, security by saving. The way to freedom has always been a rough and arduous road. Countless of millions of men have given their lives. and are now giving their lives. to drive the road onward through the deserts of politics, the inferno of war and the quicksands of economic tony. The ‘wary traveller has found. to his sorrow. that there is no easy mad to the abundant life of freedom. Experiment. reat hard work, sacrifice, an consideration for others are necessary to attain the political, intellectual and spiritual heights of personal liberty. Ptmideatt of the Imam Lib at Canada. who addressed the 75th meeting of poiierhoidertt held " Waterloo on Thursday. LouisLL-nu 'rrn 'ATIILOQ ttht-t gauging! by one long; experiented in the nminoss. I m:- been summarized n :rngrammmg the diatrlbutlon of proceeds of lift: insgrpnce pond“; The life insurance agent in the mrly days was strictly a sale-nan. The policies he sold were usually Hm more simple forms of life con- 'racts, and for small amounts. But he purposes for which life Insutv r1100 may be usefully reg! ave been expanded, and t c ef- ffcient agent must be a great deal nnre than a salesman. In fact, modern life insurance salesman-l 'hip has taken on many of the "uaracteristics of a profession. To he surcrsstul from the standpoint ct both sales and service. the life Insurance rrpresenutlve of to” must be thoroughly prepared, mus! mm? himself to act as a competent tami y adviser in many matter, 'ortaining to domestic financial requirements. both present. nnd future, as well as to know Ind ex- plain efNitmtly the many kinds of policies available and the annual merits of side quate flnnncittt protec- hon His amt". as enumerated 1 861.000. In 1894, when the Company [ had reached its twent 411th enm- , versary. assets were $855,000. In I 1919 assets had increased to "h. [ 321,000. while our present resource: ', amount to $252,150,453. , VALUE OF PROTECTION Impressive as are these tigures in indicating the continuity of pro- gress and resources. the satisfaction they invite is supplemented by the thought of the equally impressive volume of policies in force which they protect. For this purpose. they are ample but reasonable. The true perspective is gained by relatinf them to the purposes they tutttt . It is only when we realize the responsibilities to thousands of policyholders and beneficiaries which the last Bgure I have quote!“ involves, that we obtain a true idea of its meaning "Man does not live! by bread alone," and one does not wish to emphasize unduly the ma- terial ends of life, but in a world which is full of tragedy. and in which people in the main tind it imprssible to provide adequately for their dependents by accumu- lating capital resources from av- ings, which may be prematurely cut off by death or misfortune, there is essential merit in thus pro- viding the means by which distre- can be eliminated. or at least mini- mind To persons of the patent - who accept as common-place the ‘clcctric light, the motor car. the (radio, the conditions and modes of life of three-quarters of a century ago would seem primitive. The early models of our motor can and aeroplanes were very crude in con- struction and performance com- pared with the developments which have Since taken place. There have likowise been many changes in the practice of life insurance since our fqrst policy was issued. Respectfully submitted on behalf of the Board. LOUIS L. LANG, President. Special -itaiGas CiFC7sViiriG Funds aggre ated 310.836.531.10. an ingease It 'fl,llifls'dt.8l. At the close of the year the and: of the Company aggregated $352; 103,689.06. an increase of 316.912.- 400.05. The rate of interest earned on Net Ledger Assets was 6.75%. RESERVES Reserves for Assurances and An- nuities as computed on the hub at forth in the Actuary's Valuation RtrtrVmoy.nted to napalm” Total Income tor the year wu $38,trs7,207.s7. Payments under policy contracts amounted to $14: 854,764.76. including dividends to policyholders paid or allotted of $3363.73L99. V SurblusV'Earnings for the year were 35.316.675.85. _ The total Annuity contract: in force will provide for mm Br.". ments to Annuitanls of $4.303, " 85. an increase of W110. GROUP ACCIDENT AND SICKNESS The Group Accident and Sickne- Branch has policies in force cover- ing 78 groups. Net premiums writ- ten for the year were $253,058.41. The assets of the branch amounted to $194,007.20 lgCOplgi AND EXPENDITURES Groub ArGiiiFt%iGets, in“ and increased. provide for tutu" lingual _pgy_mepts of $585,804. 7 tar mture annual payml nuitants of $274,368.33. The" total iiiGiaiees in force. Ordinary and Group, amounted to $723,86t,S26, - - 500 ordiitiirFiGrGii, Conn-cu were issued and revived. providing fttutyre -ar1nyalgpamerits to Am _ Your Directors have plenum in presenting the seventy-Nth Cour bined Protit and Loss and Sun)“: Account. together with 'dt",",',: ‘Sheet of the company for the year‘ ‘ended December 3i, "" _ ASSURANCE! Additions to the Ordinary Ann-1 ance Account for the year totalled‘ $62,924,580, of which $60,H3M3s were new Ordinary Amt-noel oaid for under 25,257 policies: $2,090,712. policies revived; and $120533. Bonus Additions. Termin- ations from deaths, matured en- dowments, surrendered policies und other causes aggregated $23,- 677.555 The net result was that Total Ordinary Assurances in force gained by $39,247,025 to a total of 3681581155 “539.205 il/ "tiiiirfii,hi,-, idle? contracts invélving' 3.3257 We: hattntt been effected. The Elsi] Group lnsuhnce in forge i2iretyieAti.ryLttte Lear by Annual Report Board of Directors they become necessary; arranging the change of policies hom one form to another as etrettm, stance; mum; eortr.rvirtg Ill. In- surance in force; preparing “Mr mam {alum for the purpole of dis- tribut " ttroms of life “nuance; tar-numb for small ttenefttq as they me available; "raw policy loan. when 'tth/ on occasion discouraging Inc loom; giving service in t e can of enm- ment or claim papers. Apart. there- fore, from his generally 'eeergrtiaed 'function ot mun; new policy- mom.“ Ind 4Utritnatine " wide y " possible the lamnly protection 'provided by lite “nuance, the ter- vices of the field man in life Insur- ance nre lndltrmhlo, und they have no little ' no in dmminl many of man's most when.” Idiom m mam! mm. 15. building up of an olden: w Ttse-test Waldo-u: chiughym 'l,WllStlv,',d en- “and by diseases ot the bean, blood vowels and kidneys. This from) accounted for 50.6% of the ace amount of civilian deaths in First WoridNhrr" Tia; oGrrear, time: as heavy as the muted waned . L"f, t u- Pe war up to the Jtgl',rat M te,'v"t"tt',Lrg..iti,et was discused by t e we er, who compared the experience during the t war with that for the nut-3:13 War. and indicated that after taking into consideration the an of the com- pany may and in size twig-live you: no. the total drain war 31d i9taeea.y.s_ortaiitr during the unnoe all”: will ire- Fau GGG, gene! the lb, has my on my: service u may" iUceU 13; eTerCiii; as life 1111mm. trtotftt2'2idete,' i-,l"'"idiiiiiiii om ll iFihaiaiiriiiik5i'iii m-ee chGeGiiiaaluGieTrsTiCk7G new insurance sold. Mr. Sou-nine m.rtetmt U n rehab" gum lg pod-tn It“ in- It m r-ted by Mr. v.1 BterMue.iieerroqfaat - 'texttoetimt tii than)”. (on: new {nun-nae: sold In A!'tttl noun was the breed. in the cum- panr's history. New policies to the number at 18,." were [laced by the company's 'R'M'd,t2t" dur- itta ttye 'ear. untold!” par» 'ho"e'""oemraqrrryrar-teee,r-rue “suntan-Jun Theeqeetotymreuimaoesthe General Inger Reviews May's on!!! CLAIMS HEAD OFFICE "You see, life insurance to me is a personal thing, and my Company’s reports on its operations for the year mean more than a presenta- tion of figures-to me they mean a strengthening of my present and future security and that of my fellow policyholders and our dependents." "It pleases me to know that the Company is conducting its operations horn year to year so carefully that the SAFETY of my insurance is unquestioned, and so economically and efficiently that the earnings of the Company give me my insurance at the LOWEST possum: NET COST. "Of the amount paid out by the Company in I944 I received my share of the dividends, or premium refunds as a substantial reduction of my premium. $93,000,000 have been paid in dividends to policyholders since The Mutual Life was tirst organized in 1869, which means that the actual cost of insurance has been reduced by this amount. "I also noted with pleasure that The Mutual Life invested heavily in the two Victory Loans of 1944 and that a large percentage of the assets, which total KS2,000,000, is in War and Victory Bonds.) am interested in these assets because they belong to us-the policyholders-- and represent the stability behind our insurance, "$14,8M,000 was paid to policyholders in death claims, matured policies, dividends and other payments last year, benefitting many individuals and families throughout Canada. My policies are still in force and their values are constantly increasing. The assurance of security for the future that they guarantee gives me peace of mind. "Take 1944 for instance. More new policyholders joined The Mutual Life than during any other year in the Company's long history. That means a stronger company, more people united with me for a common purpose-personal and family protection. (We own 285,000 policies for protection exceeding $723,000,000). It is evidence that the Company has gained a good reputation through its service and outstanding policy results. "I am a practical man, and big figures, as such, do not convey much meanin --I want to know what thev mean to me as a licvhnlder g _ po _ and to my dependents. t "Some years ago I insured my life with The Mutual Life ot Canada and every year since that time I have carefully read the Ctrmparey's Annual Report because as a policyholder I am, with 180,000 other policy- holders, a part-owner of the business. Ind their families, and Mn: obviat. in: in a large measure the mpposcd ','g,glt Iona very (ml port of some elaborate and Winona! plans being advocated for social steamy. hi ha... l m one cl than who [tend person-l tnee-tde- and freedom u among the mates! of human Nadir. We the chill indeed. In view 0 the "new of men! yum. if we have not In"! l, ed the Liming that 1ttatt pe in ever) or is I. r "cunning, in. mm» It and] can mum. at.” over a period of your: mm not only considerable expense but also careful planning and super- vision. and h In an: m in the 3mm of the bum. would not he permitted to M. To the extmtt am thtd men an M1. more people hm. alt-reliant In my”. ppvlglon by them-alml At the end of the yea the total maul!» ot the War and Victory bolting! wanted to ttit" 580,500. The bqok value of the company’s Domtnlon of Canad- Direct and Guaranteed Bonds now amounts to stamens. which re- present. in - ot 50% of the total assets. The Bond Account. which in- cludes use Provincial. Municipal. Public Utility and [whatnot Bonds totals ”84,730,309. In Increase of 322.001.”: for 1914. On a conservatively calculated but; the wt: book values of} the bonds and stocks held by the“ Mutual Lille Td", than gat,' marke " ues r ammonium l $11,000,000. . "" and with!» mu m alu- m we: di-rid D'“ cry ttuqtqtbmis Dustin dish mu paid In I.“ "and to {5% of the civttiU “I. and can- eeraeseoqgttedttte {6.0%. Adelina: W in chin. Pt, "tL'"',','.',-, minus has reported . w an: and an ine-e also tn du- th.%t,u'rtu'cttLh, yet: or and were i'l',','dl hee .tat"gt,,t', inations through balm“ wovidnd by the Life Extender: Miners. 803508 gum Surplus funds at December 3tst mud $13,190.88, in increase tu.r.thi.rear of s1,1m.m._ Tl..- eompnny's "Bets incl-eased bi Sllglcgm in 1944 to a total of sunning Policyholder 'iii' Reports '" for 'Mitt.'.','.""" WATERLOO. ONT. - "eVe't_.. w........,....... _ In our Company. as statements which have been presented indi- cate. substantial t‘xpansion In all branches of npunllon haw when place Sum-o ""i','Jg.T.tl,tt m 3889. dividends to po iryholders and 'tenrttcinries haw been 891000.000; death and disability clu'mo In“. ”1.000.000; mum-mm. to tte. (Conunmd on h I believe it is the general ex- perience of the fl',',"g',',e,",, engaged in life insurance In ave increased JJ')""] Income. to have had ewer ierminalions. and larger amount: of business in force. to that Canadians, in the course of min; are of their private obliga. tions, are ulm enabling their insur- ance mmpanios to give full support to war finantung and, tat the name time. an- easing thc pressure on the reduced quantities of goods "tlute. for civilian consumption -. -..- CN-__-___, - e policyholdéxg sié :63; 1aiiTrriiVi' Real estate holdings, excluswe ot head omce. totalled 31.048331, the lowest tUure since 1930. Loans to policyholders, secured by the ash value of policies in the company. again decreased in 1944. the reduc- tion being $1,550,544 The company is continui in 1915 tretame scale of divhblu to sale agreements on tarms in Al- berta. Saskatchewan and Manitoba Since these loans assist the borrow- at the end of “314 to $3,797,080. I decrease of 48% in tive you: ers to build or purchase their homes and enco’urue‘ more owner shipitisthepoliey2 may to leek further loans of this charm. (ter. particularly in million ite, them 'MTS 'tare ‘1 to h t new a n- j'1'l'tf National Housing Act. The ‘amount advanced under the Na- tional Housing Act in ID“ we: more than twice the amount for the previous year. It was recorded with satidution that the position of western hm- era, who have been through very dim}! times m past years. has greatly improved-as evidenced by the fact that-589 morgue: and sale agreements were paid on eli- tirely by farmers of the three Prairie Provinces in 1944. The com- e,yt investment in mortgages Inf Mange loam and “I: Ice:- 1tl'tphte"ed at?” at the t year ew ltogffttt loans were tad in I.“ (or amount of tGtr4't hem Ilium entirely on residential property. Stung thee lens assist the borrow? 21-1, “my 0. ml ”IMAGE LOAN. ”hull-nu.