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-. u PAGE EIdHT' THE CANADIAN STATESMAN, BOWMANVILLE, ONTARIO METROPOLITAN LIFE CONTINUES PROGRESS IN 1939 ono]drs eceve Almost A Bllon olarsInDividends hILest Ten Years. Haydon Vsitors: Mr. aud Mrs. Adam Sharp, Enniskillen, with Mrs. E. Mountjoy... Miss Laura Phillips, Toronto, with her mother. .. Rus- sell Aunger has left for Alberta to see his brother, Ernest, who is critically ill. .. Mr. John Gilbank has returned home after visiting his brother, Wm. Gilbank, Bow- manville. Home and School Club meets on Tuesday. A missionary program was giv- en at Suuday School in charge of Miss Meta Degeer. Readings were given by Mrs. C. Garrard and Miss Freda Bradley, and a solo by Vivian Cowling. Spring must be here as the tulips are peepmng through the ground. OTAWA, April Mt. - The dlvIdeud payments et almosta billion dollars to Metropolitat Policyholders during the past ten Yeairs are featured ln the seventy- third annual report of the Company released today. The report higlights the <ompany's growth aud stability over the last decade wben economic contlUitons have been difficult. 1t Shows that during this period, ln addition to contractual payments te Policybolders of over four billion dollars and the amount paid ln policyholders' dlvidends, the Metro- politan added to its contingency reBerves. It also strengthened the bass of lts policy reservrs, im- proyed properties acquired tbrougt foreclosure, and reduoed the valua- dion of securities sud real estate. And, during the same period, Metro- politan polîcyholders benefitted by the ainount of fit ty-eight million dollars expended ln health and wel* tare work. The report shows that durlng the year 193, for the elghtb successive Year, polîcyholders and their bene- ficlaries received benetits of more than hait a billion dollars. These 1939 payments, wbich amouuted to $604,M2,898, averagiug $5,023.47 a minute of each business day, werc the largest ever made lu any one year sud brought the total pald te policyholders snd their beneficiaries during the years 1930-1939 to more than five sud a quarter billion dollars. The Metropolitau comment point- ed out that more than two thirds of Its paymeuts asat year were made to living policyholders sud the re- mainder to beneficiaries.- This con- tinues ln Ihue with the ratio of Paymeuts made lu previous years to living policyholders sud beneficia- ries. This paymeut of approximate- ly three aud a hait billion dollars to living policyholders ln the past 10 years means the Insuriug public la reallzing, that, while making provision for their dependents through proper insuranoe prograin- ing, they can also make provision for themselves. The report commenta upon the Canadian business of the Metropoil- tan, and shows that satisfactory 1i2creases have been made in the various departments, - investinents In Canada haviug iucreased by *17,085,81n; beneficlarles having InCreased bY $2,099,M2; and fthe total business lnu:force lu the Dominion incemaed by Weil over $19,000,000 to a total 'of $1,163»20,. 558. The <ompany's investinents iu Canadia, as at December 81et last, totailed $284,816f,3o f which *171,680l,004 la represented by Dominion, provincial sud municipal bonds. It la POInted out that the total apnount uow iuvested here for the benef it of pohicyholders, added to the amount that ha been paid to policYholders sud beneficiaries since the Company eutered Canada in 1872, exceeds the total premiums collected lu Canada by $159,000,000. Health sud Welfare activities in Canada were,,continued, the cern- pany particlpatiug lu 55 health cam- palgns during the year; dlstrIbutiug 2,866,698 piecesof health literature, sud through the operation of Its nursing- service makdng 352,906 visita to stck policyholders wlthont any additional cost te them. Other features lu the Metropolitan report whiedh reter te, the total Company business lu Canada and the United States, were that the asseta of the company held for the benefit of the poUceyholders had growu te $5,141,986,181, au Increase of $199,085,764 durIng 1939; that divldeud declarations, for payment to policyholders ln 1940, amounted to $112,999,63; that lite Insurance lu force at the end of 1939 totalled M23193,000,000, the largest ever re- corded lu the hlstory of any cern- pauy. The curreut divideud declaration, again above the $100,000,000 mark, provides for the paymeut to policy- holders of $112,999,638 during tbis year. The dlvidend allocation for Ordlnary policies la $57>28,771; for Industrial, $51,075,867; sud for Accident snd Health, $3,725,000. Iudluding the declaration for 1940, the company wil have pald to Its polîcyholders lu bonuses sud dil- denda a total of *1,554,86,189-to Ordlnary and Group policyholders $784,880»21, to Industrial $784,082,- 056,asd to Accident and Health $85,453,852. The uew high of more than $28,-t 1W,000,000 of lie Insursuce ln force with thue Metropolitan at the eud of 1M89la divided as follows: $11,85,- 92,84, or 51M2% la owned by Or- dlnary policyholders; $7,h5,140,305, or 8Z.40% by Industrial polcy- holders and *8782,679,464, or 16.81% by Group policyholders. In Accident sud Health lu force there le a principal num benefit of $1,478,- 776,4W0and a weekly lndeamnty o! ail I I i Ie U.1mn AD What Every Metropolita Plcholder Should Know about bis Company, Metropolitan presents its Business Report for the year ending December 31, 1939. to Church on Sunday at 3 p.m. ýY Zion 1- Receut Visitors: Mr'. sud Mrs. 'b John Knox sud family, Columbus, *Mr. sud Mrs. Mervin Knapp sud family, Brookîlu, at Mr. Robt. Killen's. .. Mr'. sud Mrs. Chas. 'yGesîl, Nipawin, Sask., wîth rela- tives at Zion. They intend to start motoriug back to Saskatchewan ethis we..... Mr. sud Mrs. Gary Glaspel, Whitby, ut Mr. F. B. Glaspel's. . . Mr. and Mrs. W. Hulatt sud Victor, Oshawa, ut Mr. Russell Perkins'. .. Mr. sud Mrs. A. T. Stainton and Eileen with 9Miss Bernice Stainton, Peterboro. ..Miss Beryl Glaspel, Oshawa, ut Mr. F. B. Ghaspel's. .. Mr. sud oMrs. Ah!. Ayre sud family ut Mrs. sC. Selby's, Oshawa. .. Mr'. sud eMrs. Ivor Gary, Toronto, ut Mr. F. B. Glaspel's. .. Mrs. M. Prout sud Joyce, Bowmanville, ut Mr. J. Shackelton's. .. Miss Audrey Ayre, Bowmauville ,at home. Mr. sud Mrs. J. Cruickshanks, Mr. sud Mrs. Alf. Ayre, Mr. An- son Balson atteuded the hockey game ut Maple Lest Gardeus, Toronto, Friday night. Mr'. sud Mrs. J. W. Balson were 3given a surprise party on their t37th wedding anniversary ou April 8th. Those present from. out- side the comxuunity were Mr. and Mrs. A. J. Balson, Aileen sud Harold, sud Glen Robertsou, Solins; Mr. sud Mrs. Chas.. Fer- guson, Mr'. sud Mrs. C. Downey, Mr'. sud Mrs. Leslie Hoskin, Thortouns Corners. Miss Eileen Stainton has sc- cepted the position o! office nurse for Dr. C. W. Slemon, Bowxuau- ville. Mr. sud Mrs. Wes. Camneron eutertained several of their tri- ends and neiglibours to a Pro- gressive Lost Heir psrty on Fr1- day night. Mr'. J. W. Balson, (ierald sud Harvey were guests at a Bro- therhood banquet at Ebenezer on Friday uight. Nestieton Nestîcton Women's lus t i t u t e met ut the home o! Mrs. Percy Philp, April 3rd. Curreut Events were given by Mrs. Geo. Johns. Program - Agriculture sud Cana- dian Industries, was in charge of Mrs. Cecil Wilson; readiug by Mrs. S." Malcolnm, Successfuh Potato Production; reading, Miss Ruth Proutt, Speaking o! Weeds; Roll call - Why do I have a garden? Hearty vote o! thanks was given Mrs. Philp sud ladies lu charge. Nestleton Women's Association will meet April l8th at 2.30 p.m. Meeting in charge o! Mrs. Geo. Marlow's group. Ahi ladies wel- come. Come sud briug your quiht blocks. Miss Margaret Steele visited with Mrs. H. Sheffield. Mr. Edgar Emerson, who has been home with the mumps, is able to go back to his school again. A number of chihdren from Cedardale Schooh have had the chickenpox. School was chosed for a week owiug to fhoods sud this epidemic. Mr. A. H. Veale, who has beeu visiting in Toronto, has returned home. Making maple syrup is lu full swing now. Some folks have muade quite a few gallon. Mr'. H. Wheeler got a caîl back to Oshawa Geucral Motors to work. Misses Lucille sud Aileen Hy- land visited at Mr'. L. Hylsud's. Miss Guelda Johuston visited Mr'. sud Mrs. G. Johnston. The high school girls ahi board- ed in.Bhackstock hast week owiug to bad roads. Cadmus Vtsitors: Mr. Sydney Ferguson, Oshawa, ut Mr'. Cecil Ferguson's. ..Mr'. sud Mrs. George Fowher aud Miss Helen ut Bert Gibson's. ..Miss Norma McQuade, Cour- tice, ut home. The crokinohe party ut Devitt's Hall on Fridsy was welh attended considering the condition of the roads. Several tables o! crokinole were played with Mrs. Mervyn Mountjoy sud Mr'. Orval Greer wiuners. Mrs. Marwood McKee wss wîuuer o! the usil driving contest. Lunch was served sud the rest of the time was spent lu dancing' Au enjoyable eveniug wss spent tt the home o! Mi'. sud Mrs. flarence Glnn Friday eveaning, fr fe st th Ca ta ar t] in af s: tm m tri ASSETS WNICH ASSURE FULFILLMENT 0F OBLIGATIONS Government Securities U. S. Governinet .. Canadian Goveruruent Other Bonds... .. .. ... U. S. State & Municipal... Canadian Provincial& Municipal Raihroad Public Utilities... .. .. .. Industrial & Misceihaneous.. . ....$1,015,938,914.60 * . . .$948,082,869.84 67,856,044.76 110,055,727.87 103,823,959.75 573,665,903.43 689,740,113.65 405,093,316.15 Stocks.'..... . .. .. ........ Ail but $22,561.13 are Preferred or Guaranteed. Mortgage Loans on Real Estate. Farus ....... .. Other property.... .. .. Loans on Policies..... 76p890,988.22 876,767,661.85 Real Estate Owned..... .. .. . ...... Includes real estate for Company use, sud housing projects. Cash . . . . . . . . . . . Premlums Outstandlng and,Deferred Interest Due and Accrued, etc.......... 1,882,379,020.85 86,624,833.01 953,658,650.07 515,495,459.26 407,215,594.74 132,667,027.52 87,666,343.58 60,340,337.46 TOTAL... .... .... ... .... .... ..$5,141,986,181.09 OBLIGATIONS TO POLICYHOLDERS, BENEFICIARIES, AND OTHERS Policy Reserves requlred by Iaw..... .. .. .. Amouuît which, wîîh interest sud future premiums, will assure paymnt of policy dlaims. Dlvldends to Policyholders ...*'** Set aside for paymeut during the year 1940. Reserve for Future Payments on Supplementary Contract ............. . Held for CIaims. ........... .. . Including claims awaitiug completion of proof sud cati- mated amount of unreported dlaims. Other PolIcy Obligations......... .. .. . Including reserves for Accident sud Health Insurance, dividends left with Company, premiums paid in advance, etc. Miscellaneous Liabilities......... .. .. . Liabilities not iucluded above, such as taxes due or accrued, special reserves, etc. $4,493,833,205.00 112,999,638-00 112,986,146.83 22,931,579.79 42,377,943.67 47,140,101.00 TOTAL OBLIGATIONS........$4,832,268,614.29 Surplus This serves as a margin of safety, a cushion against coutin- geucies which cannot be foreseen. TOTAL .. 309,717,566.80 . .$5,141,986,181.09 NOTE - Assets carried at $221,390,536.99 in the above statemnent are deposited with various public officiais under requurements cf law or regulatcr authority. Canadisu business embraced in this atatement is reported on basis of par of cichange. TEN YEARS 0F PROGRESS Highlight8 of Metropolitan's growth and stability over the past decade Iuisurance ln force Life lusurance «M 129. . $17,933,000,000 ~ 1939 - - 523,193,000,000 Acdent & Health Iusurauce -:;:.Weekly Indemnity 1929 1939 1939. . . 519,894,00 Polley Reserves 1929 1939 1.929 . . . 52,659,000,00 1939 . . . 54,493,00,000 Funds held, as required by law, to assure payments to policyholders. Paynients 1929 .. . Funds pi policyholders 1929 1939 eficiaries. In Canada The total arucunt cf Meti'opolitsu ife insursuce in force in Canada at the end cf the year was $1,163,200,558 cf which $640,253,313 was held by Ordinary policyholders; $421,312,638 by Industiais policyholders sud $101,634,607 by Group poicyholders. Paymeuts to Metropolitan policyholders sud beneficiaries in Canada duriug 1939 were $32,537,469.77. The total number cf nursing visita ruade without additional cost te oui' Canadian policyholders during 1939 was 352,90%. Metr-opolitan health publications distributed in Canada during 1939 totalled 2,866,698. "5335,000,00 " 604,000,000 or credited to and their ben- After fulfilling ail ils contractual obligations (including payment of over $4,260,000,000 10 poicyholders sud beneficiaries) over the 10-year period cf adverse economtc conditions froru 1929 tbrougli 1939, Metropolitan 1..-. added to ils contingency reserve, or surplus, as su extra safety factor, more than............ 2.. . .streugthened the basis of its policy reserves $132,000,000 to the extent of ................................ 45,00000 3.. . . made expenditures 10 improve properties acquired thrcugh foreclosure, without increasing their valuation............................... 4.... reduced the valuation cf securities sud real estate as carried ou ils bocks, by more than ........ S.. . . expeuded on health sud welfare work for poicyholders more than....................... 6. YET, over this came iO-year peried, and in addition te the above, Metrepelitan aiso paid or credited te its policyheiders aimes t one billion dollars in dividende .............. TOTAL ............................... 25,000,000 216,000,000 58,000,000 $476,000,000 $1,46,000,000 These highlights of the Company's business in the Dominion during 1939 -(having been included in the above statements) wilI be of part icular in- terest to Met ropolitan's Canadian policyholders and their beneficiaries. Metropolitan investrueuts' in Csuada as cf December 31, 1939 totalled $284,816,352.50. Dominion Governmnt Bonds -..Provincial sud Municipal Bonds -..Ail other investrueuts $,67,856,044.76 $103,823,959.75 $113,136,347.99 * * * CANADIAN HEAD OFFICE OTTAWA The total amount the Metropolitan bas paid to Canadians since il entered Canada in 1872, plus ils present investruents in Canada, exceeda the total of ail premniums received froru Canadians by more than $159,00,000. Metropolitan Life Insurance Company The Metropolitan ie a mutual orjanization. Its assets are held for the benefit of its policy- holders, and any divisible surplus je returned to ifs policyholdere in the form of dividende. FREDERICK H. ECKER, Chairman cf the Board Home Office: NEW YORK DI RECTORS 1EWERICK H KCKER New York, N.?. Chairmaa of ah. Board Motropolltan Lif. Insuzance Company JOHN< ANDERSON, New York, N. Chairman, Executlve CommUtte. Charles Pfixer & Co.,hInc. WTCHELL D. FOLLANSBE Chicago, M1. Memiber. Follanibe., Shorey and Schupp Attorneys ai Law IOSEPH P. DAY, New York, N.Y. Presid.nt, Joeph P. Day, hIc., Real Etat. LANGDON P. >.<AVfl, Newr York, N. Momber, Emmet, Marvin and Martin Attorneys ai Lawr LEROY A. LINCOLN, President WITRmOP W.àm.L5IC,%Neir ri .. Chaîrman aof.Bor Chas. National Bank af New Yark EDWARD B. STETTlinius, Ir., N.?.C. Chairman colte.Board United 31.1.. Staal Corporation WILIM W. CROC]IR San Francisco, CaL Premident Crocher lIraiNationat Bank AMORY HOUGHTON, Carnte, N.?. Premident, Corninq Gins Wange LOUIS S. ST. LAURENT, Quebea Canada Member, St. Laureot, Gavne in à Tascereau. Attarneym et Lwi ERNSTIL NOROIS, Washlngtan D.C. Preeldent. Southem aila y atou WILLIAM L. DE BOST, New Yark, N.T. Presîdent. Union Dime Savungs Bank 1131EMIAH MfL.5ANX, New rkr, N. Mi ani & Ca. IYALTON CORS? COLEMAN Montroat. Canada, Ba'nor Vice-Pre.tdent, Canadian PacUtic Raitway NEWCOMB CARLTON, Newr York, N.?. Chairman ofithe Board Wetern Union Tlegraph Company L150? A. LINCOLN, Neorkr, N.?. President, Metropotitan Lile Insurance Company tUJIR W. CROFT, Greenwich, Cana. Fomer Chatrinan Harblaon-Walker Reizactrt.. Company THOMAS H. BECEr, New, York, N.T. Président, The Crovrelt.Colier Pubttlhaq Company WALTER EWING HOPE, New YTok N T. Membor. Mithank, Tweed and d5 Attorneys a iLa,, SAMUEL W FORDYCE. St. Louis, Mo. Memb.r, Fardyce, White, Mayne, Wiluiu and Hartman, Attorneys at Law, GEORGE MeANENYNe,, Tark, N.?. Chairman ai the Board Tis. Guarante.and Trust Company ROBER? V. FLEMING, Waetgon D C. Preident and Cha&mna h or Rlgge Nation&. Bank TREERIC W. OECOM New, Tork, N.? Vice-Preidant biebaottUtan Lii. Imance Company THURSDAY, APRIL 11TH, 1940