. The Waterloo Mutual Fire Insurance Company Shows Continued Progress. Eightieth Annual Statement Submitted to Policyholders The Eightieth Annual Statement of THE WATERLOO MUTUAL FIRE INSURANCE COMPANY was presented to the Policyholders at «the Annual Meeting held at the Head Office, Waterloo, on Saturday, January 30, 1943. ‘The President, Mr. W. G. Weichel, presided and preâ€" sented the Directors‘ Report, showing continued growth in Assets and Surplus for protection of Policyholders. To the Policyholders of The Waterloo Mutual Fire Insurance Company:â€" In this New Year of 1943, we may well lift our hearts in Thanksâ€" giving. In this our day we have seen a new promise, the beginning of the greatest forward movement for huâ€" man good that this or any generaâ€" tions has known. Fiftyâ€"six United Nations, bound in a common crusade in the interâ€" ests of the common man, all learnâ€" ing to bear one another‘s burdens, are bearing them, not in selfishness and self seeking or with an eye to some ultimate benefit, but in symâ€" pathy and understanding. Never in history was this more importâ€" ant and necessary than at this moâ€" ment when the gains, achieved by humanity in an upward struggle at a cost of blood and sacrifice, are threatened by a surge of brutality unparalleled in the world‘s history. Living as we do in apparent seâ€" curity, occasionally rationed along food and other lines so that our Soldiers, Sailors and Air Men will be properly taken care of, and payâ€" ing more in Taxes than we ever did before to keep them supplied with the Tools to finish the job, should we not do these things gladly when we consider that in large portions of the world freeâ€" dom has been throttled and will Nazi doctrine has been completely destroyed and the common man again is free. Somehow we, as Canadians, must be made to understand that the good things we have enâ€" joyed did not just happen to come our way, but were the results of hard work and sacrifice, and that only by work and sacrifice can we retain them. MBE W. G. WEICHEL REâ€"ELECTED PRESIDENT Mr. F. H. Moser, Managing Director, reviewed the business of the year and gave credit to the Agents for their excellent efforts and continued coâ€"operation. Following the Annual Meeting, the Directors met and reâ€"elected Mr. W. G. Weichel, President, and Mr. J. H. Simpson, Viceâ€"President. Mr. E. E. Rotharmel, Superintendent of Agencies, in his report discussed the losses for the year and their causes. not be restored until the infamous To face actual facts toâ€"day, we must forget self, work harder and sacrifice more than has been our custom, and by so doing toughen our mental and spiritual fibre. Present day news is heartening and prospects for victory better than the dark days of a year ago. The magnificent comeâ€"back of the Russian Armies is causing unâ€" easiness in Nazi ranks, while the tenacity which China has shown in her desperate struggle with the Japanese make brilliant history for 1942. Our strong and virile neighbor,| 51.98% Canadian Government the United States, is doing magniâ€"‘ Bonds. ficent work in the Pacific and elseâ€"| .44% Canadian Municipal Bonds. where, while her output of Muniâ€"| 17.07% Public Utilities Bonds. tions and Equipment is tremenâ€"| 19.46% Industrials and Miscelâ€" dous. And then what can we say ‘laneous Bonds. of our Empire, Britain, who bore: 2.08% Stocks. the brunt almost alone for sevenl( 8.97% First Mortgages. years, aided by our own Canada,‘ Of the total invested assets of New Zealand, Australia and South $2,080,471.43 none were in default. Africa whose heroic deeds on Sea, ! The Company donated the sum Land and Air are immortal. of $1,500.00 to Federated and War Total Assets $2,239,850.19; Surplus for Protection of Policyholders Increased by $88,203.22 and Now Amounts to $1,830,978.38; Purchased $900,000.00 Dominion of Canada Victory Loan Bonds During Year; Messrs. E. J. Bauer, W. Henderson, F. H. Moser and F. L. Whitaker, the Retiring Directors, Were Reâ€"elected. __ Office Premiges ................... Mortgage Loans on Real Estate ... Amortized Book Value of Bonds Book Value of Real Estateâ€" and Debentures ... Book Value of Stocks Owned...... Cash on Hand and in Banks.......... Agents‘ Balances and Premiums _ Uncol@@ted .............cuclll>. Balances due from Reâ€"Insurance Copy of the Audited Statement, as at December 31, 1942, presented to the Members of Companies ... Interest Accrued W. G. WEICHEL, President To the President and Policyholders of The Waterloo Mutual Fire Insurance Company:â€" Gentlemen:>â€"â€"We undersigned, the Auditors of the Company. HEREBY CERTIFY that we have carefully examined the within statement and rompared the entries therein with the books and records of the Company and that the said entries are correet. We further certify that: + (m) (b) (e) (d) Waterioo, Ont., January 20th, 1948. (ed (M (@) at the Annual Meeting to be held in the Company‘s Office, Waterloo, Ontario, on Saturday, the thirtieth day of January, 1943, at the hour of 1.30 o‘clock p.m. we have mudited the books of the Company and have verified the cmsh, bank balances and securities; we have checked the reserve of unearned premiums and that it is calculated as required by the Insurance Act: we have examined the provision for unpaid tlaim« and that in our opinion it is adequate; the balance sheet does not show ms sssetas unpamid balances nwing by agents or other insurers whose accounts have not been verified within the next preceding ninety days; the balance sheet does not include as mesets, item« prohibited by the Insurance Act from heing shown in the annua! »tatements required toâ€"be fled thereunder; after due consideratiBn, we have formred an independent opinion as to the position of the Company and that, with our indepemdent opinion so formed, and mecording to the best of our imformation and the expianations given us, we certify that, in our opinion, the balanee sheet sets forth frirly and truly the state of affairs of the Company: and all tramsactions of the Company that bave come within our notice have been within its powers The Waterloo Mutual Fire Insurance Company ASSETS We will be asked to make furâ€" ther sacrifices, and this will be done by Canadians everywhere who are facing 1943 with unflinchâ€" ing courage and determination. The sacrifices we are asked to make are puny when compared to our young men who are giving up everything worth while at a time when life is sweet and the future looks promising. The fight is strenuous and the cost terrific, but the results, when victory is finally won, constitute the greatest reward any Nation can achieve. The meeting of Prime Minister Churchill and President Roosevelt and other Notables at Casablanca is a sure sign that the United Nations are ready to deliâ€" ver a crushing defeat on the Nazi ‘Powers and to achieve for the comâ€" man man, Freedom of Speech and Liberty of Conscience, the only 'real Bulwarks of Democracy. Your Directors have pleasure in presenting herewith the Financial Statement of the Company for the year 1942 with the Auditors‘ Certiâ€" ficate appended thereto. The totat amount of insurance written was $51,960,205.00, a deâ€" crease of $5,764,246.00 from the previous year, and the net amount in force was $81,226,569.00. The net amount of premium income for the year was $328,556.98, plus the decrease in reserve of unearned premiums $8,292.23, the earned premium income was $336,849.21, and the total receipts from all sources were $590,602.70. The net amount of losses incurred includâ€" ing adjustment expenses was $155,â€" 311.96, a decrease of $51,191.54 from the previous year, and the total disbursements were $502,â€" The gross assets of the Company were $2,239,850.19 and the liabiliâ€" ties $408,871.81, leaving a surplus for the protection of Policyholders of $1,830,978.38. In addition the Company held premium notes of $108,817.30, with a residue of $64,â€" 318.60 not included in the assets. During the year the Company again enjoyed the continued conâ€" fidence of the insuring public; all adjusted claims were promptly paid and no disputed claims were outstanding. The invéstments of the Compaâ€" ny consisted of the following secuâ€" rities: 51.98% Canadian Government Bonds. 44% Canadian Municipal Bonds. 17.07% Public Utilities Bonds. 19.46% Industrials and Miscelâ€" laneous Bonds. $ 35,000.00 186,656.42 $2,239,850.19 ©1,850,640.01 43,175.00 50,945.01 42,878.91 10,108.96 20,445.88 CERTIFICATE OF AUDITORS , VICEâ€" Provision for Unpaid Claims..........$ _ 22,000.00 Reserve of Unearned Premiums at 80 ::.m.s0mpornommunonnuionnus â€" 201,043.00 Investment Reserve ...........l..... 59,500.00 RE BOF ... ols iecaamerecrenminennermnbeagte Investment Reserve ... Taxes Accrued, Dominion and Balances ... Pension Fund Reserve SUrplUS ... scssale. FTOVIACIA1 .00 se eelicrraces Aggnts‘ Credit Balances ... Reâ€"Insurance Companies‘ Credit x #iÂ¥kst00. edr:owmicu® $2,239,850.19 F. H. MOSER, Managing Director. J. P. SCULLY, C.A., R. P. UFFELMANN, C.A., Auditors Charities, and purchased $900,000 Dominion of Canada Victory Loan 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 a term of three years, the election of one director for a term of one year, and the election of two auditors for a term of one year, and any other business that may be properâ€" ly brought before the meeting. The retiring directors areâ€" Messrs. E. J. Bauer, Wm. Henderâ€" son, F. H. Moser and F. L. Whitâ€" aker, the first three mentioned beâ€" ing eligible for reâ€"election for a term of three years, and Mr. Whitâ€" aker for a term of one year. Respectfully submitted, ‘ W. G. Weichel, President. Waterloo, Ontario. It is with regret we report the death of our esteemed director, Mr. Oscar Rumpel, who passed away on December 12th, 1942 As an industrialist of wide experience az.l knowledge, coupled with a sincere desife to help any deservâ€" ing cause, he will be missed by your Company as well as by the community which he served so Church School Opens Soon Presbyterial Winter School comâ€" mences on Feb. 8th and will conâ€" tinue to Feb. 13th, inclusive, at the home of Mr. and Mrs. Wesley Howlett, with Rev. Facey of Bronte as Dean of the school. Rev. Forsyth and others will assist. A profitable week of study is in store. If you can‘t attend day sessions, you are welcome at the evening periods. Reâ€"Elect Officers The annual congregational meetâ€" ing was held on Sunday afternoon at the regular worship service. All officers were reâ€"elected and the financial statements showed a substantial balance on hand; also increased givings to the Missionary and Maintenance Fund. Our boys in uniform who spent weekâ€"end leave with\their parents were Edward Israel of Allenburg and Ivan Letson and Geo. Melitzer of London. WEST MONTROSE Olive Hewitt of Kitcher the weekâ€"end at the hom and Mrs. Wesley Howlett _ Mr. and Mrs. Harold Sugg and baby of Hamilton spent Sunday with Mrs. Alma Sugg. _ â€" â€" Mrs. Earl Hampel spent the weekâ€"end with M’:‘e Hampel in Toronto. â€" Miss Jennie Hildebrandt of Kitchener was a Sunday visitor at the home of Mr. and Mrs. Harvey Melitzer. _ Mr. and Mrs. Jack Bennett and family were Sunday visitors at the hqnl\‘e of Mr. and Mrs. Gus Hartâ€" wick. Mrs. Jos. Letson returned home after a few days‘ treatment at the K. and W. Hospital, and is at present in delicate health. LIABILITIES Buy WAR SAVINGS CERTIFICATES Regularly (Chronicle Correspondent) By Mrs. B. C. Woods Ruby Knowles and of Kitchener spent at the home of Mr. 121.56 35,330.57 1,830,978.38 10,155.36 120.63 |_ Pte. Oscar Libutzke of London was visiting here at the homes of his sisters, Mrs. Herb. Gies and \ Mrs. Walter Stroh, while spending ia leave at his St. Jacobs home § During the evening Russ. and Lester were each presented with a pen and pencil set. Besides local young people, the following from a distance were present: Ptes. Ted. Weseloh and Carl Damman of Chatham, Pte. Lorne Berlet of Wolseley Barracks, London, Misses Gienys Yendt of Kitchener, and Estelle Baggey of Bridgeport. _ _ ReElect Elder At the annual congregational meeting at St. Matthew‘s Lutheran Church, held after the Sunday afternoon service, Mr. Clayton Esch was reâ€"elected elder, Mr. Elâ€" more Ritter reâ€"elected as trustee, and Mr. Herbert Gies was elected as trustee to replace Mr. Norman Dahmer, whose term had expired. Misses Ruth Schweitzer and Beaâ€" trice Hemmerich are auditors. Miss Marion Schweitzer, organist, and Mr. Herbert Gies, cemetery superâ€" intendent. A cemetery committee comm:l of Messrs. Wm. Hemmerâ€" ich, in C. Schweitzer and Herâ€" bert Huehn was elected to superâ€" vise cemetery matters.. Satisfactory balances were reported in the finanâ€" cial statements of the church and the different orgarizations. Soldiers Feted At Conestogo Pte. Russell Stroh and brother Lester, whose birthdays fall on the same day, enertained a score or so of their friends at a birthday party at their home on Saturday evening. Prize winners in games were Miss Dorothy Koch andâ€"Carl Damman for first honors, and Ruth Koch and Russell Stroh, the consolation. _ _Mr. and Mrs. Chas. Hilliard and Mr. and Mrs. Harry Smith attended the funeral of the former‘s niece, the (uRaeral of the formers niece Mrs. Iph Trussler, at Breslau last Wednesday. _ _ e _ Mrs. Reginald Burnett and son of Waterloo spent a few days at the home of Mr. and Mrs. David Burâ€" nett. Pte. Chas. Jonas has been transâ€" ferred from Ipperwash camp to somewhere in the Western Coast province. _ _ Mr. John Burnett has purchased the Arthur Isracl farm, formerly owned by William Martin, adjoinâ€" ing Winterbourne. Mr. Fred. Weppler spent a few days in Kitchener last week. _ â€"Mr. and Mrs. Walter Campbell of Guelph were weekâ€"end visitors lvl=l-b (Chronicle &) THE HYDROâ€"ELECTRIC POWER _COMMISSION OF ONTARIO at the home of the latter‘s parents, Mr. and Mrs. Fred Weppler. * _ Mrs. Aaron Albrecht has returnâ€" ed home after visiting for a week with Mr. and Mrs. Wilfred Alâ€" brecht. Miss Marion Schweitzer and brother Charles and Mr. Sol. Kirch attended the funeral of the late Emanual Lackner in Kitchener, last Wednesday. Mrs. Gillvray McLean of Centreâ€" ville spent ‘the weekâ€"end with friends in the village. _ â€" Mr. Herb. Gies, sons Maynard, StewarWand LeRoy, and Mr. Vinâ€" zent Whitehead attended the Boston Bruins â€" Maple Leafs hockey game in Maple Leaf Gardens, Toronto, Saturday evening. Mrs. Lillian Rank of the Twin City was a Sunday visitor at the home of Mr. and Mrs. Isaac Holle. DHeent. * Mr. Wm. S. Wright of Kitchener . C NIDT know the whereabouts was a visitor at Bend Farm last uf his horse until Sunday noon, w eck when a neighbor heard over CJCS, Misses Ruth Schweitzer of War. C‘Tatford on the radio that a horse erloo and Anita Dahmer of Kitchâ€" C"M® to a farmer near Embro. The ener spent Sunday at their respec. RC!8ghbor told Mr. Bender. Mr. five homes. Bondcr left _ immediately _ and Mr. and Mrs. Jacob Toman of [OUNGd that it was his horse. Kitchener were Sunday guests ar!, The horse was gone from last the home of Mr. and Mrs. Byr,m:rhursday night until Sunday. Schwarls. | _ Mr. Wm. Rieck of Woodstock, Misses Ruth Schweitzer of Watâ€" erloo and Anita Dahmer of Kitchâ€" ener spent Sunday at their respecâ€" tive homes. On account of unfavorable wea.|formerly of this district visited ther and ,blocked roads, the St. last week with friends and ncighâ€" Matthew‘s Ladies‘ Aid and Luther|Lors in this vicinity. League mectings on Monday eveâ€"| Mr. Elroy Helmuth of Cassel ning were postponed, and the|spent Sunday under the parental Township Council meeting of Tuesâ€"‘ roof. day was postponed until next| Weddings bells are ringing in Tucsday, Feb. 9th, at 11 o‘clock|this vicinity. Mr. Oliver J. Wright attended the| Mr. and Mrs. Aaron Helmuth meeting of the Holstein Breeders‘ spent Friday in New Hamburg. Association in Toronto this week. Miss Edith Bender spent a few Pte. Russell Stroh of Chatham spent his weekâ€"end leave at his home here. MK T. A. PUMPHREY is a was worker. He began to feol dizzy, mervous and all inâ€" c.-gr-‘-.a'-u:dn mede him. woll. Buck up your liver Fruitâ€"aâ€"tyres, Canada‘s lm&.l.'-f“ While returning home â€" from butchering at Mr. and Mrs. Stanley Reibling, Mr. Solomon Bender stopped at his sisterâ€"inâ€"law, Mrs. Aaron Bender. He was there only a short while and when he went out he found that his horse had run away with the cutter and some cf his butcher utensils. The horse stripped off her briâ€" dle and dragged it along and lost it not far down the road from Mrs Bender. > A Runaway Horse. > Mr. Wm. Rieck of Woodstock, formerly of this district visited last week with friends and ncighâ€" Lors in this vicinity. BULLAS TRADEâ€"IN STORE Chesterfields â€" Bed Room Suites EAST ZORRA By Mrs. Asron Helmuth (Chronicle Correspondent) If you want to buy good Used Furniture visit our store before buying. . . . We have a large stock of Dining Room Suites Kitchen Chairs Springs and Mattresses Mr. and Mrs. Mervin Kropf of Wellesley and Mr. and Mrs. Verâ€" nonNafziger and Lorna spent Sunâ€" day with Mr. and Mrs. Moses Helâ€" muth. days last week with relatives near New Hamburg. Mr. and Mrs. Phares Koch and family of St. Jacobs visited on Sunday with Mr. and Mrs. Jereâ€" miah Good. Woeekâ€"end visitors at the home ef Mr, and Mrs: Amos Good were: Misses Ruth Plank of West Liberâ€" ty. Ohio, Mary Helen Headings of Eellfountain, Ohio, and Nina Good oll students at the O.M.B.S., Kitchâ€" ener. Butchering is the order of the day. s â€" _ â€"â€"â€" Personals. Bishop and Mrs. Moses Roth and caughter Gladys of Wilmot Centre spent Sunday with Mr. and Mrs. Amos Good The sheds of the Bethel United Church collapsed one day last week due to the extremely heavy veight tof snow on its roof. The annual mecting of the Beâ€" thel United Church was held on Tuesday afternoon at the church. Mrs. Vioéet Mitchell, 45 Cedar E. sOUTHâ€"WEST WILMOT By Miss Margaret Bean (Chronicle Correspondent)