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A splendid annual report, showing rapid and comtinued progress, was read Saturday at the Aunnual Meeting of The Waterloo Mutual Fire Insurâ€" ance Company, Waterioo, when the 73rd Annual Report was presented before a largely attended meeting of the Policyholders. ‘This purely Canadian Company, owned and operated by Canadians for Canadians, enjoyed one of its best and most successful years in 1935. The Directors‘ Report, read by President W. G. Weichel, showed the tota) numâ€" ber of policies issued during 1935 as 22,814, and the total number of poliâ€" cles now in force, 41,143. Total amount of insurance written during the year was $41,486,3114.00 and the net amount in force is $69,534,391.00. A bright spot in the report shows a decrease of §$47,181.00 in net losses incurred during the year, as compared with the previous year. The assete of the Company amount to $1,718,524.00. President W. G. Weichel in pre senting the directors‘ report made reference to the continued progress made during the year, the marked decrease in fire losses and increase in business all of which was an indiâ€" cation of good management and imâ€" proved business conditions throughâ€" out Canada. The Waterloo Mutual ° Fire Insurance Company Viceâ€"president J. Howard Simpson in seconding the report said he was gratified that the directors were able to present such a favorable report and also to note the loyal coâ€"0pera:â€" tion of the head office and field staffs in promoting the business of the Company. Mr. F. 8. Kumpf stated that the Waterloo Mutual was the oldest inâ€" surance company and the reports presented for the year was one of which all should ‘be proud. It was also an indication of better times. Others who spoke briefly were Wm. Henderson, E. J. Bauer, O. Rumpel, W. R. Bricker, Dr. W. L. Hilliard, F. L. Whitaker and R. S. Director Wm. Henderson who has been active in public life of Waterâ€" loo for many years, and chairman of the Waterloo Reli~f Board, stated that moneys to provide for relief for needy citizens would be again raleed by voluntary public subscription. A motion was passed that the Waterâ€" too Mutual contribute $300 to the fund the same as last year. Fitting reference was made to the passing of the late King George by President W. G. Weichel and those present stood in two minute silent tribute to the late monarch, ‘Three directors were elected for a three year term, Messre. W. G. Weichel, J. Howard Simpson and Joseph Stauffer. Among those present at the meetâ€" ing were J. Howard Simpson, Guelph, Joseph Stauffer of Galt, Oscar Rumâ€" pel, Kitchener, E. J. Bauer, W. G. Welchel, F. S. Kumpf, W. R. Bricker, Wm. Henderson, F. H. Moser, J. A. Fischer, R. S. Bean, Dr. W. L. Hilâ€" lard, F. L. Whitaker, E. Rotharmel, J. Gilespie, H. M. Hoffman, C. H. Rupâ€" pel, C. Moogk, Geo. Cruickehank and M. W. Both. At the meeting of the Board of Diâ€" rectors which followed the annual meeting, W. G. Welche] was reâ€"electâ€" ed president; J. Howard Simpson, viceâ€"president; F. H. Moser, managâ€" jng director and secretary and J. A. Fischer, assistant secretary. W.G. Weichel Presents The Directors‘ Report To the Policyholders of The Waterloo Mutual Fire Insurance Company:â€" Your Directors have pleasure in presenting herewith the Seventyâ€" ‘Third Annual Statement of the busiâ€" ness of the Company comprising the Receipts and Expenditures of the year and the Balance Sheet showing the Assets and Liabilities of the Company on the 31st day of Decemâ€" ber, 1935, with the Auditors‘ Certifiâ€" cate for the correctness of same Apâ€" pended thereto. The total number of policies issued for the year was 22,814 and the total number of policlee now in force !s $1,143. ‘The total amount of insurance Annual Statement Made At Annual Directors Meeting Held Saturday In Book Value of Real Estateâ€" Office Premise® .....................$ 45,000.00 Mortgage Loans on Real Estate. 141,512.50 Amortized Book Value of Bonds and Debentures:â€" Not in default.............. 1,177,786.91 In default ... 187,594.21 Book Value of Stocks owned..... 7,501.00 Cash on Hand and in Banks........ 99,542.14 Interest Accrued ...........ccllc 16,307.61 Agents‘ Balances and Premiums 80 _ uncollected (Net) ... Balances due from Reâ€"Insurance Companies (Net) ... W. G. WEICHEL, President AUDITORS‘ REPORT Te the President and Policybolders of The Waterloo Mutual Fire Insurance Company :â€" Gentlemen:â€"We undersigned, the Auditors of the Company, HEREBY CERTIFY that we have carefully examined the within statemcnt and compared the entries therein with the books and records of the Company and that the said entrics are correct. We further certify that: (a) We have (b) We have (e) We have (d) That the (e) The balance sheet does not include as assets, items prohibited by the Insurance Act from being shown m IM® anmual statements required to be filed thereunder; {{f) After due consideration, we have formed an independent opin‘on as to the position of the Company and that, with our independent opinion so formed, and according to the best of our information and the explanations given us, we cert.fy that, in our op.n.om, the balance ltfl. sete forth fairly and truly the state of affairs of the Company; and that (@) AU tramsactions of the Company that have come within our notice have been within its powers. J. F. SCULLY, C.A. Waterlea Ont. January 11. 1936. R. P. UFFELMANN, C.A., Auditors Waterloo, Ont., January 11. 1936 The Waterloo Mutual Fire Insurance Company Officers Elected accounts audited the books of the Company and have verified the cash, bank balances and securities; checked the reserve of unearned premiums and that it is calculated as required by the Insurance Act; examined the provision for unpaid claime and that in our op nion it is adequate; balance sheet does not show as assets unpaid balances ow ng by agents or other imsurers whose have not been verified within the mext preced.ng m.nety days; For the Year Ending December 31st, 1935 ASSETS The Seventyâ€"Third Annual Statement of President, The Waterloo Mutual Fire Insurance Company, whose anâ€" nual report shows Company‘s strong fnancial position. written was $41,486.314 and, less réâ€" ‘nsurance, the net amount in force is $69,534.391. . The net amount . of premium income for the year was $299,205, and the total Income from all sources was $480,272. The net amount of losses incurred was $121,â€" 482, a decrease of $47,781 from the previous year, and the total expendiâ€" tures were $382,813. Your Investment Portfollo has been considerably revised and imâ€" proved and the Company now holds Government Bonds of $4514,000 and First Mortgage Loans on Improved )Clly Properties of $141.512. The Inâ€" vestment Reserve of $150,000 is conâ€" slderably in excess of Government reâ€" quirements. The Assets of the Company amount to $1.718,524, and the liabilities $421.â€" 540, leaving a surplus to Policyholâ€" ders of $1,296.984. In addition the Company holds premium notes for the amount of $140,158 which are not ‘ncluded in the Assets. For many years the,farm branch of the business has been unprofitâ€" able, but this year the premiums reâ€" ceived on this class of risk have been sufficient to pay the losses sustained thereon, while the loss ratio on all classes of risks is the lowest in fifteen years and reflects careful seâ€" lection and inspection of risks and general improved business condiâ€" tions: All claims have been carefully adjusted and promptly paid and no disputed claims are outstanding, and the result of the year‘s operations !s most gratifying. Owing to the absorption of Canâ€" adian Fire Underwriters‘ Association by the recently formed Canadian Unâ€" derwriters‘ Association, the Company deemed it expedient to operate as an Independent Company, and with its ©ubstantial surplus is in a favorable position to better serve the public and compete with other Companies writing Fire Insurance in the Proâ€" vince. In conclusion we beg to draw your attention to the main object of the Meeting, viz., the disposal of the Statements before you, the election of three Directors for the term of $1,718,524.59 1,177,786.91 187,594.21 7,501.00 99,542.14 16,307.61 82,980.50 10,299.72 w. G. WEICHEL items probibited by the Insurance Act from being shown in the Provision for Unpaid Claims......$ 8,000.00 Reserve for Unearned Premiums At B0% ...z 253,023.99 BL BOKE rsummmromacrairrcceen Taxes aceryed, Dominion and ProVIRCIA] . ...omusmmmcrmicee Investment Reserve ...........col>> Reserve for Unlicensed Reâ€"Inâ€" SUFARCG AL 100 %.:mmmusiizces. Reâ€"Insurance Companies‘ Credit Balances {Net) ...s.ccousllccss Agents‘ Credit Balance (Net).. Surplus for Protection of Policyholders .....................> «Third W. G. Weichel, J. Howard Simpson and Joserh Stauffer, all of whom are eligible for reâ€"election. Despite lower valuations of buildâ€" ings depletion of mercantile stocks and keen competition, the premium income has ‘been maintained, while ‘osses have been considerably re duced, and as a consequence we are able to show a substantial underâ€" writing profit. An analysis of underâ€" | writing results shows that approxim:â€" ately 70% of the premium income is derived from nonâ€"hazardous business,. while the other 30% is about evenly. divided â€" between â€" mercantile and manufacturing risks. In past years farm business had |been so unprofitable that many |Companies discontinued writing this clacs of Insurance, but ‘"The Waterâ€" too", instead of doing likewise, had faith in the farmere of our Province and appointed an additional Inspecâ€" tor to supervise this particular branch of our business. By careful selection and inspection of riske, aided by general improved businese conditions, this class of business with *"The Waterloo0" has actually shown a profit. Waterloo, Ountario, January 25, 1936. Three Years, and the election of two Auditors for the term of Obe year. To the Policyholders of The Waterioo Mutual Fire insurance Company :â€" ‘The trend of business conditions is generally reflected in the State ments of Fire Insurance Companies and the Financial Report just pre cented for the year 1985 should inâ€" deed be encouraging to the Policyâ€" holders. Your Investments, as has already been intimated by the President, have been revised in the past year, and the invested assets now comâ€" prise 31.20% Canadian Government PBonds; 18.89% Canadian Munick pals; 17.11% Public Utilities; 22.81% industrials; 0.59% Stocks and 9.34% First Mortgage Loans. In the early days of the Company the accumulation of a surplus was not even considered. The experience gained from conflagrations and large individual lcases, however, prompted provision being made for euch emerâ€" gencles and about the year 1900 a «mall surplus had been accumulated. In 1904, the year I became connectâ€" ed with the Company, the surplus was $94,470.87, but this has Increased year by year and the surplus for the Protection of Policyholders is now the substantial sum of $1,296,984.79. In December last we severed our affiliation with The Underwriters‘ Association and are now operating as an Independent Company. This action has been commended by many of our Agents, and if the number of new riske already secured is an ihâ€" dication, the volume of business hou‘ld be considerably increased in the future. In conclusion I wish to take thia cpportunity of expressing my appre clation to all who were responsible for the sirccess of the Company in he past year, and especially to the Board of Directors and the Executive Committee for their kindly considerâ€" ation of all matters placed before them, to the Office Staff for their splendid coâ€"operation throughout the year and to the Agents for their loyâ€" ilty to the Company. ~ Respectfully submitted, F. H. MOSER, LIABILITIES ‘The retiring Directors are Mesers You â€"h;l\a heard the encouraging ctatements as submitted ‘by our President and General Manager re Waterloo, Ontario, January 25, 1936. To the Members of The Waterloo Mutual Fire Insurance Company:â€" Gentlemen : â€" Manager‘s Comments Respectfully submitted, Superintendent of Agencies Report F. H. MOSER, Manager and Secretary $1,718,524.59 1,296,984.79 7,500.00 150,000.00 2,156.29 President 218.18 41.39 Manager. Manager, The Waterioo Mutual Fire Insurance Company, whose comâ€" ments upon the Company‘s activities, reflect sound business management. spectively, and you will no doubt agree with me that insofar as the experience of "The Waterloo" the past year is concerned, a decided imâ€" provement over the past few years tas been shown. 1 will not try to enlarge on the facts as given you, merely give you a brief synopsis of work accomâ€" plished by my particular department. 1 regret to report the death of seven of our agents who had served this Company for years. ‘The bustâ€" ness formerly carried on under their names has been transferred to other agencies. Eight new agents were apâ€" pointed and twelve transfers of agencies through sales were consumâ€" ated. Seven agencles produced no business and were cancelled; at preâ€" sent we have a total of 318 agents reâ€" presenting us in Ontario. Every agent of the Company was visited at least twice in the past twelve months. We appreciate the fact that coâ€"operation between the Company and the agent must be susâ€" tained. ‘The amount of Agent‘s balances outstanding at the end of the year has been materially decreased from 1934, showing a definite trend toâ€" wards better times. ‘This department has covered Apâ€" proximately 68,463 miles, made 2099 Inspections, 1360 visits and calls on Agents and 74 adjustments of bo.uos. "The Waterloo" holds an enviable reputation in this Province of Onâ€" tario and as the economle conditions of the Country improve, this Com:â€" pany should enjoy a still greater measure of success, Respectfully submitted, Waterloo, Ontario, January 25, 1936. (Continued from Page 1) tariff and has already given clear indication of its intentions to adâ€" kere to that policy there is no doubt: in Ottawa that findings of the Conâ€" servativeâ€"appointed toard will be atâ€" tentively listened to by Messre. King and Dunning. ‘The board has in recent months heard representaâ€" tions from three major industries, textiles, gasoline and automotive. United States Watches The Conservative opposition attlâ€" tude to the United States trade agreement which will come before the Houee is evident. Rt. Hon. R. B. Bennett, as leader of the Opposition will maintain that, while he was angâ€" ling for an agreement, when his govâ€" ernment was swept from office, he was not prepared to pay the price of the agreement which the House will be asked to ratify. Not in many years has a debate before Canadian Parliament prom:â€" ised to attract the attention in the United States that this question will, Republican forces, arming themâ€" selves for the election to take place in the United States later this year will be eager to seize on any arguâ€" ments offered to show that the treaty is favorable to Canada at the ex: pense of the United States. Such material would be regarded ‘by reâ€" publican speakers as effective amâ€" munition against President Roosevelt and his democratic colleagues. ‘The nation‘s capital this week bowed at the death of their King. No sooner had his Majesty‘s death ‘been annoupced than officials of state de partments plunged into the intricate details neceseary for appropriate 0bâ€" servance of the period of mourning. King‘s Canadian Act From Peace Tower bells tolled the ’news of the Empire‘s loss. In Chateau Laurier where prominent officials and members of Parliament were dining and dancing, music ab ruptly ceased. The Week at Ottawa Few remain who came in personal contact with King George during his visit here for a week in 1901, but throughout the city thousands as reâ€" aidents of the capital and the home of the viceâ€"regal representatives felt with added intensity the sorrow which awept the Dominion. A few minutes before the King‘s death Premler W. L. King signed the last document which he was priviâ€" leged to sign jolntly with King Georgs. The appointment of Hon. Charles Stewart to the international joint commission had been recomâ€" mended to his majesty last month. ‘Ten days before his death King George had aigned his approval. In the Royal Canadian Mint pre parations have been under way for some time to produce what will now be the last Canadian coln bearing the portralt of King George. New allver dollars will go Into circulation shortâ€" ly. Subsequent coins «will carry the portrait of King Rdward VIIL. Montreal.â€"The poor man will conâ€" tinue to get a break in the Recorder‘a Court of this city. During 1935 a polley was adopted to aid those of humble means. _ The policy was one that gained genera] approval and it is to be conâ€" tinued through 1994 Fines for technical offences were made payable on the instalment pian. Every possfble consideration was given the poor man and fines levied for failure to have a munic!â€" pal liconse were frequently returned when the |icense was secured. _ The "Poor Man‘s Court Favored E. E. ROTHARMBEL, F. H. MOSER Supt. of Agencies Mayor J. Albert Smith strongly vrotested against fve salary in creases made to members of the re "ef board staff recently. He did not think it a proper time for increases when civic boards are trying to pracâ€" tice strict economy. Mr. @mith agreod with Chas. Hahn that officials should be paid what they are worth but said the city treasury, like other Ald. Walters and A. A. Woy said the increases were emall and due offi cials who were underpaid. Miss Maâ€" bel Folk was voted a $20 increase to $12%0 per month and four other emall increases. Escape Sg}'jous ‘Two men, Oscar Maecker and Elâ€" mer Schause, employees of Miller Bros.. plumbers. had a miracr‘ous escape from death at two o‘clock Thursday afternon. when the truck in which they were riding was hbit by an east bound Grand River radial car at Glasgow St. The truck was carried along the tracks 200 feet. ‘The men receive1 cuts but were not seriously hurt. They received med!â€" cal attention at the K.â€"W. Hospital. MRS. J. BLAKE VICTIM OF SEVERE BURNS Died at St. Mary‘s Hospital, Jan. 22nd. â€"Origin of Fire | Not Learned. Mre. Blake, wife of "Jimmy" Blake well known Kitchener eportsman, dled at the St. Mary‘s Hospital on Wednesday from fatal burns received when a fire at the home set fire to her clothing. ‘The burns covered }lhree quarters of her body. She was 42 years of age. Investigation re vealed that an electric iron the vicâ€" tim was using when fire occurred, seemed to be in good condition. oncerns, was not in a position to ake care of increases at this time. clothes a fire. He ‘om of the kitchen gade arrived. Fire Chief Guerin believed Mrs. Blake fainted when the flames from an unknown source enveloped her clothing. Her fhusband upstairs at the time did not bear her cry out. Detecting smoke he rushed downâ€" sttairs to find his wife on floor with Church Membership Increased. Mrs. Biake lost a twentyâ€"yearâ€"old son geven weeks ago, the child being a victim of a rare type of leukaemias disease. Surviving are her hisband tour sons, and one daughter, and threa slaters, Excellent reports were presented at the annual meeting of the Wesley United Church, held recently. Memâ€" bership was increased by 29. Rev. Mr. Stewart presided. Total enrolâ€" ment of Sunday School is 167. The current fund receipts were $1,280 and $218 for missions. The officials including session and stewards were reapgoinud. x Presbyterian Church Progresses. Satisfactory reports were preâ€" sented and officers elected at the annual meting of the Gale Presbyâ€" terian church, held recently. A soâ€" cial hour was enjoyed at the close. Bornâ€"January 26, to Mr. and Mrs. Moses Kuepfer, on the Mornâ€" ingtonâ€"Wellesley boundary, a son. ADVERTISING In The CHRONICLE BRINGS RESULTS. lnjiu-y When Hit by Radial Car Mayor‘s Protest DMuloon's(fllnuu)‘l". Dmflflm........lyh DC-na‘hn‘........in. [â€"] Metional Home Monthly [C]Pictorial Review. V Av. ) Cenedian Horticulture and Home Magazine . Ayr. FERNBANK ELMIRA was dragging her when the fire briâ€" A sate at Goudies Departmental mnnmuupu‘ some time Friday nightly or carly Saturday morning and s substsatial sum of money is reported stolen. Chief of Police William Hodgson stated that the safe in which the day‘s cash was kept was left open giving the thief free access to it. The theft was discovered when the office staff reported for work Baturday morning and Mrs. Enoch F. Martin had the misfortune to sprain one of his wrists recently. Banns Procialmed. Banuswere proclaimed at ‘West Wallenstein Mennonite Church 8unâ€" day, Jan. 26 for Mr. John Bruâ€" bacher, son of Mr. and Mrs. Amos Brubacher and Mr. Louisa Martin daughter of Mrs. Amos Martin of Hawkesyllle. Sprained Wrist. Master Herman Martin son of Mr. Banus were also proclaimed on the same day for Mr. Tobias Bauman, son of Rev. and Mrs. John Bauman and Miss Annie Weber, daughter of Mr. and ‘Mrs. Elias Wober of 3rd line Peel. Mre. Floyd Yousy, N.Y., and the Misses Emmeline Lichty and Hettie Wideman spent the weekâ€"ond at the home of Mr. Noash Wideman. Mr. Harold Willlamse spent Tues day in Ehnira. â€" ~ 0 _ Mr. Grant MacPherson spent Sunâ€" day at the bome of Mrs. D. W. Musser, Wallenstein. Mr. Alfred Voll has been engaged for another year on the farm of Mr. Schlueter. 4 Mr. Johnny Jackson and !Mr. Stanâ€" ty Overend spent Friday evening at the home of Mr. Charles Mathews. Master Enoch and Miss Rebecca Martin visited at the home of Mr. and Mrs. Enoch F. Martin. Sunday visitors at the home of Mr. and Mrs. Joshua Bowman were Mr. and Mre. Ellag Weber of Yatton. Bornâ€"To Mr. and Mrs. Jesse B. Martin of Niagara, N.Y., a son (Donâ€" ald Arthur). Mr. Jesse Martin is a son of Mr. and Mre. Ellas W. Martin, Wallenstein. Mr. and Mrs. Ralph Jackeon and family spent Sunday at the home of Mr. Charles Mathews. Mr. Elias B. Martin and Miss Seâ€" lina ‘Bauman spent Sunday with the Jatter‘s mother, Mrs. Henry Bauman of Hawkesville. Owing to severe snowstorm last week the bus from Linwood to El mira carrying High School Scholars was unable to pass through here. (From Christian Science Monitor) Chrict Jesus brought the gospel, 0r good news, of the kingdom of heaâ€" ven. He knew that men were searchâ€" ing for heaven, the consciousness of perfect frappiness, and he gave us, in the Beatitudes, scientific rules for guidance and direction. On page 291 of "Science and Health with Key to the Scriptures" Mary Baker Eddy tells us, ‘"Heaven ‘s not a locality, but a divine state of ‘Mind in which all the manifestaâ€" +lons of ‘Mind are harmonious and imâ€" mortal, because sin is not there and man is found having no righteousâ€" ness of his own, but in possession of t‘le mind of the Lord as the Serip ture says." How clearly this exâ€" plaing the message of the Beatitudes! Man has no righteousness of his own, but reflects the one Mind, God. Therefore, one can attain heaven, or perfect happiness, only as one puts off belief in a selfhood, or mind, apart from God. In one of his forceful denunciaâ€" tions Jesus said (Matthew 23: 13) ‘"Woe unto you, scribes and Phariâ€" sees, hypocrites! for ye shut up the kingdom of heaven against men; for ye neither go in yourselves, neither THE KINGDOM OF HEAVEN WALLENSTEIN TODAY Please clip list of Magazines after checki Oofi-n;nwlvudnnt Please send me the three magazines checked with a year‘s subscription STREET OR R F. D. .........0}.00}0000 066 668606 'sufler ye them that ure entering to go in." It can readily be seen why the classed as hypocrites those who etressed only the observance of maâ€" teria} ordinances. "Hypocrite" comes |from a Greek word meaning one who plays a part, or assumes a character other than is own. ls not every morâ€" tal adopting a character or selfhood other than the real or spiritual? |Every belief that man has an entity that changes from youth to age, that apart from God, a fickle mortal self can ‘be healthy or ill, «inful or irighteous, is a false sense, and must be cast out by the truth, for it has no place in God‘s kingdom. Guess But ©:._. As men learn to become meekly obedient to the good will of "omniâ€" potent Mind, they will gain the singleness of vision and purity of beart that sees God and His harmoâ€" niousâ€" manifestation _ everywhere: "for their‘s Is the kingdom of heaâ€" ven." « Don‘t Entrust Your Own or Your Family‘s Well â€" Being to Unknown Tunmu-k-wm neenaration vou or vour family 3 erenaration vou of uie whing ior ts rilld of Seadaches is SAFE to use regularly is Tenly Sector ‘Ask hm patticularts Washington.â€"Great Britain is not alone in seeking coâ€"operation for transtAtlantle air routes. Recently United States flying officials conâ€" ferred with representatives from Great Britain. He will teil you that before the discovery ol "Aspirin‘" most "pain" remedies were advised against b‘ physicians as bad for the s and, often, for the heart. Which is food for thought if you seek quick safe gelief. Scientists rate "Aspirin" among the fastest methods yet discovered fo: the relief of headaches and the pains of rheumatism, neuritis and neuralâ€" gia. And the experience of million« of users has proved it safe for the average person to use regularly. In your own interest remember this Germany has now entered the transâ€"Atlantic flying picture and an official German mission will arrive here Feb. 8th. Secretary of State Cordell Hull who announced the visit gave no indication of whether the proposed German line is to be estabâ€" lished in opposition to the British or a United States service. The attitude of the Government toward having planes of several naâ€" tlions using airports in this country us a terminus has not yet been disâ€" closed. The matter is one calling for close international coâ€"operation. parines after checking 3 P Fill out coupon carefully Remedy You Use is SAFE? ‘"Aspirin‘" Tablets are made in Canada. "Aspirin‘ is the registered tradeâ€"mark of the Bayer Company, Limited. Look for the name Bayer in the form of a cross on every tablet Demand and Get "ASPIRIN" Germany Seeks Airâ€"Ocean Lane 3 Publicaâ€"