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af Increase . . » + $64,873,000 ff a if Reserves ; for Unforeseen Contingencies . . ....., of course, in a position to increase its already : 3 G0 1 7 ts to policyholders, and your Directors have Surplus Over Al Liabilities s eq pag. the SP pei i secon Shut me and Contingency Reserves $22,107,000 While many factors have contributed to this remarkable show : 000 Ing, the most noteworthy has been the large earning from invest Increase ye $4,234, Bis. As has been mentioned in previous reports, it bas for many Te i rd ad yh mn og Assurances in Force (Net). $871,636,000 i na Jeeted ! Increase . , . $167,871,000 oA Ch rod 3 Policies in force (excluding Group Policies): + 384,113 Employees of firms protected by Group Policies . 30,160 e rate of inferest earnid duilng the year on the méeh invested" aa ae Set Eo a tat cli Dividends to policyholders again increased resulted from our having realized on some of our of govs ernment and other bonds which bad risen to high figures, the pros seeds being ea reinvested in segurities yielding ret ranks amongst the Foremost of the World Life Assurance Institutions : : AT ; ? p CLAVE hs ad 0 i ERO 107 a nT Ge ) I wx LER J Sr.