The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

"Ourlhtofunulhow'uutwo n securities of large amount in all %. authorized by the Act. "luvtecments wo . mus, uh0 w we must, conseâ€" tly, look to those classes of comâ€" stocks which are authorized by Canadian Act. Fortunately,when same degree of care as is necesâ€" for safety in selecting mortgages bonds is applted to the selection , of common lw?h. especially within the conservative limits laid down by the Act, these selected securities are, in the jfadgment and experience of the thoughtful and wellâ€"informed, among the choicest and safest of all investments and by far the most profitable anrd desirable. I £ay that the values quoted are those given by the government department or lower. ‘There is much in those two words. ‘They mean that the values given in the report are apâ€" proximately $62,500,000 less than the actual current values of those securiâ€" ties on the Exchanges. Then we have the additional deduction from market values of $20,000,000, referred to in the report, and also the special continzency reserve of $12,500,000. These items total $95,000,000, and our unlised assets and other mMarging raize the amount to $100,000,000. "This means that the market values of our securities could shrink by $100,000,000 _ without reducing â€" our surplus by one doilar. Such a shrinkâ€" age is of course atmost inconceivable. I indeed doubt very much it even the catastrophe of another world war eould produce so drastic a depresâ€" slon. Supposing it did. we would still have intact our undivided surplus of over $54,000,000. We are hardly likely, I think. to be criticized for lack of conservatism. I do not know any | other financial corporation which has | Its assets so protected. I imagine we| are more likely to be told that we have been too conservative; it so, | that is & criticism wo must endure:| Our safety margins may perhaps be |! unnecessarily large, but kafety <â€"ust| be our paramount consideration; and | 1 #, as we confidently anticipate, the |] margins prove not to be required, |< they will in time be available for dis. / tribution among our policyholders. | And what possibilities for our policyâ€"| holders do these margins represent! L Investment Provisions "It may be timely to summarize briefy the provision of our law. T‘ ey permit investments in:â€"fArst, mortgages (up to sixty per cent. of the â€" appraised value); government | 5 and municipal bonds; corporation | 4 bonds secured by mortgage; preâ€"| C ferred stocks of corporations which ::o paid dividends for the preceding | ; years; and common stocks of C E"mmm'm. have pald divi t preceding seven years, dividends being not less than | ° four per cent. per annum or $500,000 | P by Ne vaueue ago C S 9 L O us OEA C ue Hurte tive policy. We always have before our minds the possibility of a ~usiness depression, which might occasion heavy shrinkage in market values of all classes of securities. Mortgage socurities may at such a time become totally unsalable but that fact is not J tent; while every fluctuation in the Iricgs at which stocks and bonds can la turned into immediate cash is & vied on the Stock Exchange. Cecvrities Heavily Undervalued "I have decided to take our policyâ€" t Jlars into our confidence in the 1.. t complete way, so that they may rcalite how fully our directors have povided against any contingency of his Kind You will notice that we £ay that the values quoted are those given by the government denartment 2‘the combined total in tely 9 per cent. Aga 8““.“ let me place th un Lifeo: ur new assur g’ 84 per cent., while .r increased " per c nsed not further c utuaiton, thou a contin ou, degree, of our nor: the Company is 0: with the insuring But people will ha a preference reason unqu r strongth of t! unnsual profitâ€"oa m.w‘ excess 0 it is cloarly Intimated ed to do so wa couli w‘r Inoreased 27 per cent. need not further emphasize the expansion of o:lhr bullx;eu. It is & continuation, though in accelorâ€" degree, of our normal condition. the Company is oxtraordinarily with the insuring public is oviâ€" But people will hardly s ow 80 | & preference without reaâ€" reason unquestionably is r strongth of the Company,| unnsual profitâ€"oarning powor. w announced in the roport in excess of $40,000,000; it is cloarly Intimated that had wo ed to do so we could have taken eredit for a mush larger amount. We however "But there is another feature even more striking and important. Advance Agures indicate that the increase over the previoug year in the new business written by the combined lite comâ€" panies of the continent was approxtâ€" whatoly 8 per cont., and the increase the combined total in force approxiâ€" tely 9 per cent. Against these perâ€" tages let me place the figures of the Lifo: ur new assurances increasâ€" h0 84 per cent., while our total in Ov | _ _ Hundreds of contributions are reaching us that just fall short s 5+ s ts either in rhyme, rythm or expression, but we hope Unique M Position °‘ Company â€" Discussed by'mm.he:ve;afledutnwmluhwmmm President Macaulay in Annual Address ‘historic spider will try again. Montreal, Feb. 14.â€"The phenomenal growth and success of the Sun Life Strive for originality in the idea behind the limerick as well Awar:nedo Co-p:-&. o't,r(.::‘:m l;ndgr 'gdgpmcll‘ interest each year to th9 as in the manner of expression. ‘ m?u.'-m :noetln‘. vhl::tiutjuai b;cnm. :incloced a continuation of , The following are a few of last week‘s winners:â€" this expansion, but it was more noteworthy still for an announcement almoast Bulwark of $100,000,000 es Protects Sun Life Investments conservaâ€" What Mussolini wil do it he ever stops running Italy is more than we know, but he has an ideal disposition for the driver of a highway bus. Tho largest piece of world has been found i is on its way to Washt being elected. Play after play has falled in Now, York this season. Poople just can‘t got a thrill out of the same old cuse ! words hes L ui. 100 Cmy £00 Wook" is being featured this season to focus additional attention on this fine cough remedy, , Druggists Observe > Buckley‘s‘ Cough Mixture Week The week of February 28th to March 6th is being observed by the retail druggists of Canada as "Buckley‘s Cough Mixture Week,." _ This week has been arranged by the Retail _ Merchants‘ Association of Canada and the Provincial Boards of the Retail Merchants‘ Association, in coâ€"operation with Messrs. W. K. Buckley Limited, the manufacturers, | This product has beon on the market for many years and because of ml rapidly increasing favor with Canaâ€"] disns during the last fow years, "The | UWfaslee io uo. 4 A@rnamany ;3 â€", °. cOCE mide on the agreement that the participating polâ€" leyholders shalt receive ninetyâ€"five per cent. of these profits, and that right any of our members could enforce in any. court of law," infike asou y " . CC _ POF CORL.â€" Of the profits distributed from the parâ€" ticipating branch. Our stockholders long ago reduced their share to five per cent. All our contracts for thirty yeats past have been made on the agreement that the particinatine nal. aoe .. _ _ 76A Sald that such an increaso â€" would divert from â€"the policyholders profits properly belongâ€" ing to them. This is the exact oppoâ€" site of the truth. "The Insurance Act allows stockâ€" holders to receive ten per cent. of the wumiths" Aposume . CZS _ ue e e en "It has been said t} increaso â€" would divert policyholders profits proj ing to them. This is the site of the truth. | dsn 23 ePevune ds "(2) Because we wish to sure that this great Company sha ‘ver fall into undesirable hands. \ canâ€" not alter the status of our e..sting shares, but we can impose restrictions on«the transfer of the new shares which :lll b: an effectual safeguard. CTe se ds C nue‘s 000,000, should be capital of $2,000,000 P mt NC ied "We do not ask that the capital be Increased; we merely ask that our right to issue stock up to the amount originally authorized be freed from legal ambiguity by a simple declaraâ€" tory clause, 1 "But why do we require aâ€" larger capital than the present $2,000,0007 "Chiefly for two reasons : "(1) Because the present capital is manifestly out of all proportion to the magnitudeo of the Company‘s operations. It is absurd that a Com pany, whose asgets are already $500,â€" 000,000, should be controllel! by a canital af @9 Ama ana DP Aptnt dnb inindunaals h &8 2017 the original authorization was unatâ€" fected by that amendment, but adâ€" vised us that it would be well to have the matter put beyond doubt by a brief clarifying Act of Parliament, in 7N MP Are im trw ds _ _‘"‘The original Charter, granted in ;1865, authorized the Company‘s captâ€" tal at $4,000,000. An amending Act passed in 1871 contained a somewhat ambiguous clause, which has been inâ€" terpreted in some quarters as limiting the capital to $2,000,000. Five emiâ€" nent legal authorities to whom we s‘::bmltted the question assure us that Shu claaie UC C NEC n 12 0R 0 ACCTTY ARRUAUUE: standing and misrepresentation about it that I think you would like a plain statement of the facts. P s y 200. S OCS P viry !due solely to increased dividends and bonuses received on our stocks beâ€" youd the rates payable on those ; stocks purchased by us in 1923; the actual cash yield from these in 1928 represented a return of 2.38 per cent. on the purchase price greater than the dividends payable on these stocks at the time of purchase, while the average value of the rights and bonuses received during the interâ€" vening five years has amounted to a further .38 per cent. per annum. The Bill Before Parliament ons of modern business. He said in part. MRS. R. M. TAYLOR, _ Nipawin, Sask, â€" s No Magic in ‘Bond‘ F€ T/ "Consider mortgages. What comâ€" Purity Flour * € pany has not suffered losses, and There was an old lady named n sometimes very heavy? ltx:es. g: ;u Bower 8 mortgage investments to bonds, j s‘ y e|some people seem to consider that| Who always used Purity Flour; 1| there is magic security in the label| She declared the day long | s ‘bond‘. ‘This popular beliet is not| To be healthy and strong |I â€"| supported by experience. The surâ€" Eat bread made of Purity Flour, > plus earnings and ‘;nal;,xinu 0; fl‘l,-’;nfll_ MRS. HENRY COULTHARD, t companies, over and above the .R. No. ,‘dend requirements of their stocks, BB No.‘A, Bugents, Qut, .)are much greater than the surplus > .|earned by other companies in excess Royal Yeast ‘of the interest requirements of their| There was a farm woman named ‘bonds. Few experienced financiers Mary, would claim that the bonds usually Whose bread was as light as a offered are safer than, or even as safe fairy; as, stock of such companies as the Montreal, Light, Heat & Power, g‘l:e:eaa:;d ..t;; ::pl:::: American Telephone and Telegraph, pusd, P Commonwealth Edison, and many| ROYAl Yeast C?.kea your worries others I could name. ‘The payment will bury." of the interest on the bonds is cerâ€" MRS. T. GENOE, tainly no more sure than the payâ€" Ceylon, Ont. ;nenht of the d;vldendl on the stocks. n the very unlikely event of the diviâ€" Wrigley‘s Gum dend on any such choice stock being reduced, it would be certain to be There once was & boy found * far more than offset by increases in penny, the dividends on others. Our own| Who being a Scotty was canny, average interest rate has been| So he bought Wrigley‘s Gum :tndll.y' mounting year after year,| And he said. "Oh vom vnm! The Bill Before Parliament will now say a few words about Bill we have before Parliament, : has ;bog, so much misunderâ€" ‘gest piece of ivory in the been found in Alaska and way to Washington without ill kinds of hing. _ q3 _ mE Wwere 1 a tree and all kinds of birds will rest : ceived on its branches. The condition of the ‘Christ. ch:lrc‘? today ‘gn the best justification have 1 RF hi se ae Eus 2 . . "2 ol Which Jesus had in the future of his kingdom, He saw quite clearly that the gospel was to be preached to the most distant iPn'ta of the earth. The small seed will become V. 31. In thhâ€" second E:;“hh we interval, ns $2,, 100C F°070r._ In the Inhtv:k' the S i f forwa thov’&kki.e'. unseen, carries la i CS °C 420005 Wudd assurance has returned, and faith and hope are f}'may fixed in Gad and his tatadn ams the happy days of conversion are appy days conve when the ypounc heart surrendets :thl ::d"doubi "fife'id'm::p‘ w low, and third, the age of fruit, when MB l r2OP vatalliatsrat 1. 2l of these predictions of Jesus. | INTROoDUVCTIONâ€"The Christian Church is the nfost imposing and enâ€" during of all the institutions of the world. It has outlived many of the empires of the earth. It is a divine institution, having been founded by Christ; and we have his promise that the gates of death will not prevail against it. It is true that many evils have disfigurod the history of thol church and many unhappy divisions . still exist, but yet it remains as thoi greatest helper of man i: all his moral and spiritual aspirations. I. THE PRepICTIONS or JESUS, Mark 4: 26â€"32, V.â€"26. This parable is found only | in Mark, unless it is to be regarded ; as part of the parable of the tares, Matt. 3: 24. It is one of many drawn from tfriculturo, the chief occupation of the land og Istrael. | V.27. When the sower does his work | hohubwuitudallow_tblicut‘ f«:reo‘:_ of nature to carry on thtir| Mrs. T. Neal. Sorry we cannot return any limericks : ibmitted as they are not kept. Mrs. T. Genoe. No decision has been reached as to when the conâ€" test will be closed. Compare careâ€" fully the rythm of the limerick with which you won a prize with the others and you will see just where they fall short. «29. Christ is the sower. Red Rose Tea Said a sprightly old man in Toronto, "I drink all the tea that I want to. As I‘ve drunk but Red Rose I‘ve not got a red noseâ€" Wife, put on the teakettle pronto." MRS. H. W. Stevinson, Macleod, Alta, penny, Who being a Scotty was canny, So he bought Wrigley‘s Gum And he said, "Oh yum yum! I knew this was better than any," ELSIE ROBINSON, Mary, Whose bread was as light as fairy; When asked to explain, She replied, "It is plain Royal Yeast Cakes your worr! Sunday School Who wanted to have a piano, P Said her Ma it is true 1 No other will do But a Heintzman Upright for our Anna. ' MRS. R. M. TAYLOR, 4 Nipawin, Sask, : Heintzman Pianos There was a young lady named , the of fruit, when ‘returned, and faith and AN Box 76, Presco'tt, Ont. Joyous Jingles By Gifted Rhymsters Christ. The pastors und teachers may have been the local ministers, and were responsible for the conduct of Dlg O POCDCCCSTE TOuT tiV CHUTC church and had no local office. They were temporary, anc the apostle reâ€" f‘e“ived l,'i: authority directly from ht s tC Aevil waTly vs. 11â€"16, ~But or‘nl‘unfion is ;’flnt flu’l n.dg:.hé‘:'olbn"r 3: churches which he formed. In these tm ts e de mt m td hn were likely concerned with ue hi forms, but it -“;‘_.--;.,‘ the f.ut essentials of may real unity: The ward organization, so that we cannot ,fllink that the Roman Catholic claim is correct which teaches that there can be no membership in Christ‘s church unless we are within that Sofsiat of any outmatd foce., tm T 0 ib attt ns ho rafptimaed on aj men Tap io mt AveAly in curnunt may ou forms, bu{”i; is l?‘.mt on the great _Ollom-ot aith, there | We notice that Christ is described as the head of the body. The mind controls the body, but the body is the necessary means for showing forth the desire of the mind and for executâ€" ‘ing the resolves of the will. Thus the | church is the orsan for the expression |\of the mind of Christ. In the church we have the most convincing witness to the truth and sfirit of Jesus. Paul does not merely think that the church was originally founded by Christ, but he is convinced that Christ sti lives and moves in the church. It is his body. Chap. 4: 4â€"6. The next quality of the church illustrated by the bodyy is its unity, and in these verses we have what are called the seven unities of the church. It is to be observed that none of these is concerned with outâ€" Vs. 11â€"16, But II. TtHE TtEacHING or PAUL on One dollar will be sent for every Limerick accepted. Give name and address and name of this paper. Write: _ Limerick Editor, Assoctâ€" ated Publishers, Rooms 4215, 73 Adelaide St. West, Toronto, 2. Any nationally advertised article or service found in this or any previous issues of this paper may be made the subject of a limerick, There is plenty of enjoyment for the whole family if all join in the fun of writing Limericks. There was a young Toiler named Tilly, Who became white and frail as a lily, Took Williams‘ Pink Pills, Which cured all her ills, And now she‘s as gay as a filly. MISS ETHEL MeKELLAR, _ Belmont, Ont. Royal Purple There was an old woman at Shoosâ€" ter, And she had a very sick rooster; Royal Purple, she fed, And she smiled and she said, "Now he crows again just like he use ‘ter," MRS. WARD BULLER, RR. 3, Ridgetown, Ont. Cuticura A flapper neglected her duty To her skinâ€"so she lost all her beauty, Although all those pimples Detract from her dimples Cuticura will cure herâ€"poor cutie! MRS. HURST, , Buckingham, Que. CHURCH, Ephesians 1: 22, 23; 4: 4â€"6, 11â€"16. Big Ben Tobacco There ® lived on the Island of Thacker, A jolly old farmer named Packer, Who said with a smile, * "The ‘Weed‘ that‘s worth while Is a plug of this Big Ben ‘Tobacâ€" cer‘," MISS MOLLIE PATTERSON, ‘ | Blenheim, Ont. Salada Tea A matron who lives in Nevada, Recommends very highly "Salada". Come friends when you can To taste my Japan, My delectable Green Tea, Salada, MRS. H. B. FLETCHER, * Paisley, Ont. lmi. The supreme deâ€" on all of us is to see that rth spirit of love and Williams‘ Pink Pills hand.â€"Rev. Christian F. Reisner Dusing my church question period over the radio Sunday night, I have had irreverent card players telephone in to ask how to play a certain poker have a habit of stabbing us in the back.â€"Sir Harold Bowden. Boarder: It sure hasâ€"mine is mere ghost of a piece of pie. A GHOST OF APIECE Land Lady. Don‘t you think this ple hu_a. really haunting flavor? "Rally," she drawled; "then you must have a heart like a local direcâ€" tory by now." But the girl was not a bit impressed. She knew that he had proposed to every girl in the district at least once during the ten years he had lived there. "If you were to look on my heart," he pleaded, "you‘d find your name enâ€" graved on it in imperishable characâ€" ters." After several months of ardent courtship the young man found his advances coldly rejected, and he took it very badly. Facts _th}t are not frankly faced "Daddie," she cried at the top of her shrill little voiceâ€""daddie, it‘s toâ€" morrow!" the train rushed ii:t:t; %rl)}]?nyllght once again. This proved too much for the child. There were gasps of surprise from the corner where little Lucy knelt on her seat with her face pressed close to the window. _A few seconds later Suddenly the train rou;xaed a bend and, with a piercing shriek from the whistle, entered a tunnel It was little Lucy‘s first ride in a railway train, and the succession of wonders had reduced her to a state of hysterical astonishment. 1 "Please, miss," thâ€" little girl replied, "mother says it‘ll be a miracle if you don‘t marry the new curate!" "Well, Nellie," said the squire‘s daughter encouragingly, "tell the class what a miracle is." There was no answer for a ;nomeut. and she was about to repeat the quesâ€" tion when a little maiden held up her The squire‘s pretty young daughter, accompanied by the new curate, was examining the children of the village school. "Now, children," she began, "can you teli me what a miracle is?" worship and the purity of the faith. From {2-16 Paul describes the object which Christ had in mind whan‘ L. A Local Directory Goopl_Natured Gossip Just Another Day Aspirin is a Trademark Registered in Canada ONTARIO ARCHIVES TORONTO Bill: "What‘s your brother sufferâ€" ing from?" Phil;: "Brain fever." "Oh, I thought it was something seriâ€" ous." A "seer" says 1929 will be a fort unate year for females, thus making the tenth year of that kind since 1918. "Well," replied the claimant, "my nental ports wife has been at me ever since it wu' burnt, and I couldn‘t stand it any longer." t® c,.8° s ! "No, not much damage," remarked the worried onsâ€""only a door burnt." _ "How much co yo: think a new door would cost. When 4id the fire occur?" "About eight vears ago," was the answer to the ‘ast qu<stion. "Eight years?" echood the clerk. "And you‘ve been all this time malk ing a claim. Why?" | When a worriedâ€"Jlooking man pres ented bimself in the claims departâ€" ment of an insurance compary and asked for settlement of a fire insurâ€" ance claim, the clerk asked a lot of questions. ‘ patte ; FOR SCHOOL HOURS | A patterned wool jersey, whose smartness is instantly recognized in | flaring sides of skirt, achieved through | shirring at hips,. The attractive turnâ€"| over collar, turnâ€"back flarec cuffs and | applied band at certreâ€"front of blouse,' are of plain jersey. Style No. 379 is designed in sizes 6, 8, 10 and 12 years.|, It is also effective in navy blue wool j crepe, with bright red grosgrain ribâ€" q bon pleated to trim collar, band and |, cuffs. Printed sateen, plain jouey.l 1 wool challis, "ightweight tweed, linen, | chambray and velveteen also suitable. ¢ Pattern price 20¢ in stamps or coin (coin is preferred). Wrap coin careâ€" 1 fully. 11 ip *4 It is, however, a country of immense potentialities, and it is beleved that Sir Gordon Giggisterg, who has had an extraordinarily saccessful career as an administrator on the Gold Coast, 'lllrl succeed in puttings things right, there exists a separate M"swm $608,000 which he will hlblolbmforthinithlm of the colonization scheme without the necessity of increasing taxation. Already an act has been passed by the [,lllhu authorizing *** Troata. tlon of & tsan of $15,500,000, which whete * $00g 0o d 0 5 suryey of the . and , Or establishment of an agricultural bank, Two districts are to be surveyed at ©n0#, one in the northwest and the Othor in what is known ay the Allu. vial Belt, where the principal crops 'I!llnrleondnmtcnne. When sultable spots have been elected, the llfl:luu‘;ulfifl be constructed, each contain 00 10â€"acreo farms., Villages will be built for 100 famiâ€" lu.uelw(tiluown school and as adequate water supply and conneeâ€" tion ‘with the nearest market. If these turn out as anticipated, by the end of 1931, an immigration organâ€" ization will be set up and, with the assistance of a subsidized steamer service, eff>ts will be made to attract people from some overâ€"populated seeâ€" tion of the Empire, probably india. British Gviana, whose Constitution has recertly been altered by an imâ€" perial orderâ€"inâ€"council giving the Govâ€" €»~ ment power to carry out » continuâ€" ous policy, is a bankrupe country, Since 1921 there has been # deficit in public finances of over $500,000 every vany. lt / +4 6A tss intatad sn 4 ‘ The Governor proposes immediately to start experimental land settliements in order to demonstrate to prospective settlers the benefit: of residence i: the country, New Governor Hopes to Inâ€" crease Population and Improve Finances Trinidad, W. 1. â€"If the colonization scheme proposed for British Guiana by Sir F. Gordon Guggisberg, the new Governor, is successful, the country will in 50 years have increased its population from 806,000, the present figure, to 2,000,000. The 2240 miles of canal to be conâ€" ;.’trolled by the Grand Union Canal â€" Company with link the Thames direct 1 with Northampton, Birmingham and . Lelcester. ‘These great industrial cenâ€" ( tres will, in turn, be linked up with | Derby, Burton and Nottingham by | means of the Mersey, Derby and Notâ€" / tingham canal systems. ‘The system _will have two direct ouitlets to the _\ Thames, one at Brentford on an arm _ of the Grand Junction Canal, the other [at Limehouse, which is the eastern ‘terminus of the Regent‘s Canal and ‘the port of discharge for increasing ,quanmle- of goods from the Contt eusumegua® 20 0l) British Guiana Colonization Tests to Start SCOamDC CTmET TV FeE0 TEF to go through the great tunnels under withstanding the fact ‘that the elghtâ€" hour day has curtailed transport workâ€" ing time. ‘The cargo carried war chiefly coal, timber, grain, chemicals, oils and foodstuffs. The Grand Union is an anaizamaâ€" tion of the companies controlling the Regent‘s Canal, the Grand Junction Canal, the Warwick & Birmingham Canal, the Warwick & Warwick June» tion Canal. The union of these sysâ€" tems represents the first tangible attempt to carry out the recommendaâ€" tions of the Royal Commission on Inland Waterways of 20 years ago. This big amalgamation is regarded as an important development of the movement to organize Britain‘s canal system in effective competition with the rail and road transport systems. As a direct result of the union it will be possible, to give but one ex» ample to ship merchnndXe from Bom bay to Birmingham. argo will be ‘brought from overscas ports to Lonâ€" don, discharged into barges at the _ Limehouse terminus of the Grand l] Union Canal, and transported without further change to Birmingham, Coâ€" "ventry. Leicester, or any town or warehouse on the banks of the Unjon | canats. | In anticipation of the revival of canal transport that will follow the scheme of modernization, inquiries are already being received for vacant canalâ€"side sites suitable for ware houses and for wharves from manuâ€" factured and industrial and trading concerns. London â€"â€" Britain‘s imand water transport recently entered upon a definitely new phase when 240 miles of canal came under the control of the newly formed Grand Union Canal Company. Brit‘sh Canals Revivified ®y New Company to Link Waterâ€" ways and Organize Big Transnort System to th "Can you in ocean around not? I‘ve Ar ar whs tive new in t W1 Â¥% 4B of to i sn CAT wh tio th by ty () A C it is . lea but Prof rench Qu« n s Be r BIR roguc ry