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By E. Rothwell. Barrie) I In his book "Planned Money. ` written in 1932, a director of the Bank of England said "the plus-I perity which the world enjoyed in the 75 years before 1914 was (luv to a t'0rtuilou.v. combin-ation of cir- cumstances, cssentially cphL-rm-r.nl. which have now passed away. Cu:-h inunnt inne sn'i' fl'0l'll' Tutu! I.IABII.ITIF.S The total amount the \lc'IInpo]it.ll1 }m~ [mid ('an.xdi4ns .-.im'v it rntermi (`.m.u1.a_ 5-|u~ i1~ [Hr im-caunents in (`;m.sd.a, t'\:`rr'\I- (Pm I--ml mt pl`lllilJl I15 nercin-d fxmn t.u\.ulx.m: l-_\ muxc I (I I) nun nun .\len`0pulit.1n invesnnc-nts in ('.m.:d.l .' 313-1. 1037 lnlallrd s203.l50.)0l.32 3'i33}'Joo;ooo. Jkuniniun (".overn1nc-nt Builds `Pn)\'in`i.s| and .\1uni\ip.:l Bund- ..~\ll Uthcr im t'>llll:`l|(: $4,H1,778,73.00 8+,I1~J,72o,s2';.o1 Page Six which aim to stimulate tradc-_ . gestlons that money be glvon ml men in order to create a dermmdj for goods: these -and all ntlmr ru- medies have and will mnlimm 1n fail because thv Dlvlno law lhnf money has not to be lent to in crease is ignored by the spnmnru of those programnnm. Whether we shall lislcn tn lhv voice of rowson. 01'. like lhurnuh _,,J n... . :. .....:|| V()IL'L` In ll'il.\U|l, UI. lll\l` l'u'.I|.u:nu and the prodigal sun. w-::iL until force of circLnn. mnkv |I` glad to mend our ways, rmnalns In be seen, but it may ho thlu-n rm` granted that the (_`.l`('nl.m' i.< not um i int! 10 Tl`1lI11l` nnuihn-r lznv fur mu ; I-......r:A l...,.......,. granteu Hull Int.` \_,I' nut 1.-u ing particular brnefit b(.'(`:nuse we un- ignoring lhusv :Ilr-ndy frznnwd. "NM one jot or mm ul` Ilw law shall pass." W0 are Lu-in}: mndv In ru- nlize that religion vzllumt. hu H vowed from our utlwr zu-1i\rilin-s. and that pnrticipuliun in ('*l'\`InUl~ ics is no substitute` fur ul).=:r-1'v;1m-v of those laws. The consequences M` u (.-Imng:' are not something in lw dn-mlml but blvssilags to be wt'l('mm-(I. \'V|`m' we have to Ivar is 11143 cmxsvqm-n cos of our failure In mukv :1 I!-\v pvuplo (lvny tho lH'('(| 1)!` |.\ vl1an,a'v. 1o1,o23,1ss.oo $.`1_`5,s.'o,_".`1_.w 311.504.659.62 74,737,o47.93 20,479,248.33 4-4,141,003.74 26,0S5,'~)85.S9 -\('|VI'.` I! RH.` \\'lu-In-n-r \\`v Imus \\-c` urv ; Lw made to pr I... uluhnuuh . uu,1.v n,uu:...u 3,531,094.01 `.1n.d.1 as of l)eren1Ym' -.. .-. F VVE \VERE to let the gures to the left descrihe the Metmpnlit;u1's activities last year, the story \-VUUILI be fur fruin euinplele- for LilL'lL' i:'. ll Ill JMAN side of the ledger, Lou. Policyholdcrs and lwcnccizmcs received from Metropolitan in It)_`,7 uhnn.-.t $526,000,000 ~ much of it in an hmu` of gcnuinc nccd. V \ g ` -. :;._\ /' - One could scuxrcly name: :1 C.lt.l:,3t'l'()p}1C wlmh 4 t(x)k}xum.1n1ivcs,in thcUmu'd5l;1tc:snr('.m.ul.1, xxlmc funds provided by Ivietmpulmux politics had nut hclpcd lnght-qn tlw innml-xn fur afflicted unilics. Each day, visiting nurses representing the Ivictropolimn f11i11iS['CI't`I.i tn pt`l` insured under ImIiisti'iu1, ]l)lCI'I11\'kIiilIL`, uni} ( imup policies who were in need of :3klHL'Ll mic. "I in-ac Hllltus` nude 3,7(>(,24u calls during the year. Every half second durin_u_r, 1;37, :1 .`\1.-rm;m1it.ui booklet, containing useful limltli inlnrin.m;:n, um, 1'1. vi in soinebudy`s humls. " "` 2' .' I entitled The Hum.m SM: of `the you upon request. Use the coupe: S (n3.2`93.9I L342 $l08.728.l.%0.l7 S 9l,l.H.2l3.33 pussww. The umwcnx ;:nM~mx!h~` 1:H!`.`. whnm lmnkmp, has me cI!`l;:ll\ \I.\ ('u` to an as t`u.\`tud1;1n.~` nt H11` gulu` uwm-d by others: who wvre mu :.j puy fur lhv svr\'u`- by nmunx of 43 piece uf nu-ml. but thv nmmx--:1` coined Inmu-y osanw to bv 11>`:-d and the $010 night nf i.~'.~`\u' \\';\.< \':->1;-xi`. in tlw bunk:-rs ax` It Is` t~du_\' mm the puymvm uf iI\h'r`v.\`l, winch IV unly another wurd for usury. Im- came, impossible. and if u lw re--` member:-d that the x-arly bankers supplied mo nu.-lul out of which the coins were made. It is easy to un~ dex-stand how the practice 01 la- Each working day throughout the year, new Mctmpohnm inwmncnt-z went into colmmmitics in v;u'1'm:; p;u't-5 ul thc l'm'.t~tl Slum and (".'.m'.1d;1. These invcstlncnts helped tu Cl\`.lIL` ".1 tlcnmml for goods, uid rculty mlucs, give ('lI1]vh)yIm`11'., uml serve nthcr lnudcrn :suci.z1 uml cummnnt` 1m'J.. Collingwood May Hold ! ; Elections Bi-Annually! I - 9 (`.nHin;,r\vnnd will amply to 1hv lu- gislativv us=s<-mbly nf ()n1:1rin zn tho pre:=L-n1 Svssinn for am Arlt I Hnlifxrivur znnl n-nnfirnninu mulnu-_ '|I||' ])I L'I`|.'lll >`ll'.\.\IlllI llll (III l\l'l. Ra1if_vim,' um! A-unI irm`nu.z redw- Lions and I-:n1('cll1I1i(me'. mind? in taxes for llw yvur 1936 and (`ill`li\'l`,[ l rnvi(linL{ I -n` lhv wnnplm-lI H" lhv 1938 A.<.\`:-sslvwlrl Hull by Hu- /`\.~':~'.v:~'.s'uI` nut lulu-I" lhun Ivlnrt-In 2.": ' II\')\) II... .. 1|.. .1` I... II...| ml all than The Human Side -- for 1937 u .....- V. ,...... _.--.`_`-. , the coupon M-luw. less t There lllh. up k('(`|) I1-h FREDERICK H. ECKER, Chairman of the Board LEROY A. LINCOLN, Pleaidcnt IVIETROPOLITAN LIFE INSURANCIC (I().\ll :\;\ Y (A MUTUAL (IUMPA/V Y) is more we would N46 to tcH yull ulu Report. This is cunt.xinw.I HI 2! hm} Ledger", winch we :sh.:ll be g1.;ui [U .:L`H.] Second ViCePre.>1'dc,-nt and /Wattage-r fur (`.411 Just a few drops... and you breathe easily again! Va - tro - nol clears clogging mucus. reduces swollen mem- branes -- brings wel- come relief. Av-`.||;.|.|., 1.. vouples Km-ping House and tn 'l'|I()s|- In-q-e-uvin;; \'Vc-t-k- ly or Mnulhly Inomnc-s-lh-payable in I-Easy Munthiy ln.sl::lm-uls. nuuun I\I\ an:-six.` l\l'\ Bunc ifiii)$;iiiii11iid,'i}1;15. `('(`|l uw |llll`Hl[)lII_Vx'u un\'l'} 1 is }')l'(`\'L'lllill),' :1 ('mnpl-Iv" ugv uf lnuln, n-nuhlingz xnnro; )_v(-r.x' In uvnid Ix-l':mH Hum` '1 hr thv ('.'l.`l(` if the b.'lllkl`l':< nd to loan thvm mom-_v. and I is: pr`-va-ntin;-_ :1 (`ulL'Ip:~`(` of |i`l.t*(l L!()V(`l'l lhH'llI. ` :'Iluuliun :11 pn-su-nt fuHu\\" lw ubm'li\'- (|i.<:n`m:nm-n1 <-nn~ (-v of lSII`.2_ is >'imil:n' In that Ming Hm AL{:u'lix' im-idc-nl whit-In u lhv |n'(-~w:n' urmzmu-n1 mt`--' h ('ulmin:m-d in lhv \\'lIl'_ ix.` blindm-s.-. we h:1v\- ln'<`n \\';m~ lurings Hw lmal It-n ya-:n-s fur an Minn whivh would lnml In wr hip: I.-:s'uo nf nmlw_v nml |n wuu|(l npvll :1 In-w firhl nl fur millions uf mvn. .~'s:i:n I.-' (`X])(`!'ll'll(`lllJ.: four trmlv `and Imildims u l"u,:hlin;.-, furn- . Hum. -nu! .-nu.-:n:.-nO|\~ - PERSONAL LOANS - \r\II\l\l us: Iyxavv-vv V l.()Wl-IST llA'l`F.S ()l'l`AlN/\Il.l". IN (`.:\Nz\|):\ INQIVIIUICS 'rIu-:A'rI~:n (`UNI-`ll)l-IN'l`l/\l.l.\ 1|..:||x . u. nan: . 1. mm \ u nur- ` He-ml Uffix l\N Ln l\hl Kym p,` (H . ...-.-- .. :o=:o~-..:_-==o=:o:-_--__'4=m*;.-;::_ -.`=;-_-::{:=m| I ..`./.......; .n,.....-... \ \IlVl ....... .-.......- (lrillia ltepm-st-nl:1liv---!'Alll. A. (`Ul l-II./\NI) /-`I--raw -wt`: . _.,\.-..~ . rt-Vrx '1 I'I'll`l' .`~ (3.\.\'Al)l.-\V' III". \I) ()ll"|( Il-I HuI1|c()tlice, .\-w Xmk , W W 7_ "_ 7 _- 7 7 , . q JDiO OiO 0$O u HARRY D. WRIGHT Hlul` HI pm-nu ullhnugh our nuun-u .1.-x v O T TA WA V'dI66 I3 '$`:6b;b6% l)A'l`l.`Q l\ll'I`AIK!:II-!I Ia` IR! 4 Us-HI in 'I'iIm-. Ilc-Ip I ra-vvnl Many (Zulds KIN 'I'l'.I1II.VIl ) 7 S1,. Nurlh -(lrilliu, I'lmm- III I-ll`: Mutt 1. l(/J . Money Like Lubricating Oil Barrie Writer Maintains Ull(`_\` uux-.~ n\I| Illll :' urv s'unpl_v .\'nl\'in; I pl`nl)l('n\. Just as Lt` corr\*(`ll_v huw In Llw sun would 1: ...-.... -1 twin on I '}ll_Y }lll|JlI\ ' 1h<- um-my (`H A . .. 1.! . DIIUIIU (II I ll'liIl.` um-mplnyml ...Hn.r '1 run WHICH nave DUW pusacu uwuy. Such inventions urising from earlier scientific discmxeries, loud to the issue of large sums of money which is b0|'mwL-d by employt.-rsv who cuu'unerciulizo.- 1h~gund.~: ur S`I`ViL't*`. and it is 1I1e.~:c inl`usiuns of mom-y whit-h .-route lrmlv l`)lmn1S.; 1-.. A... _ u.,. ..........v :1." 1-, rzmnulng; nun mid thz Ho b.'mkv IL"... vxwrxixnhir nv 'Ilu.', llllll nun!` | i mnxsn-qtu-utl`\' It or finnm-iul hul \\'h-n lhv \\'ilh thv vnpi u.-..~. I.-no r..--I 0 that unnmgvl iply, wlu~r(~a.s' m:m_v hu_v- `nvliurus H1('l`(- mm-h prufi! is rm mun- tho ll'IIl ill lIl4l'| \s. and alive mplvlv: vnrn-n 5 i [suing and withdrawing money and} `making a charge for its use started. rm-m hnlir-F that high interest `making Cl1fll'gL` 101` llb u.\t' bldl u:u. The belief that high [charges cause depressions ix faulty., If the bankers made no charge at all. but loans had to be l'('|)1lld. it is clear we slmulcl be without :1, medium of i-xcliange. Unle.-=s 1ho_v do make :1 charge and wilhdmw all money issued the banknrs are without. income. but as banks and b:mkc1's will always be rcquix'(-d. an ,incnm0 fur them will lmvv to be pruvidod in mmthi.-1' way. "ho ir-sine lmlny ix not l)r\l\vo(-n` ltlm bunkers and the rest of sucit-iv: ilu-txvv.-on this nr that form of gov- .....o. 1...4......... ..-Minn uni` nq- |JlUVluL'\.I In u|I\.I|nn\.n u.._,. l hr\l\vo(-n between kernnu.-nl: between nation and n11-1 `liun or employer and employee. but I `bx-lwc-on God and mankind the |wur](l over. fur all peoples hnv? `the same faulty systenm of finaneirzz `Jud which sy.~`tem c0ntm\'enes :1 ll)i\'ine law, The penalty for breach} I .. . .._.` . _. In Canada ~ Government Securities: Othor bonds: III unuu_, nun... ..... D(.`pI`(.*.\TSi()llS form as tho rnum~_v Ki repaid, for its rt-payment nu-:nn.; the withdrawal frrrm (:irL'ul::liun ml` the medium of (- changv. ` 1\/I`...-mu x.- uiunil-.m In lnln-in-:1!-I Stocks : AIII Mortgage Loans on Real Estate: Filat Liens on }7;u'111.~`. 7{ (5.? 107 HR Lane on Policies Real Estate Owned: Ilwludn-5 rral (`::ldIt" hrld for l..nuw.|.u n\.. Cash Premiums outstandln ; Ind deferred Interest due and accrued, etc. (\rdin.n'_\' v . u Total Life . Accixln-nl and Hmhh \\n-xkly he-In-lu~ ` } rim`ip.1l mun lnellr Hlli muuium nu l'xk,'lii|IIg1'_ Money is similar to luhrivznl-! ing nil, without which own in in-i| fecl. machine will not, function. Our economic muchint: (Ines not lack! the ln('Ch(IHiCUl mourns for tire pm-. dnclion und distribution or {,{l7U('l::. nor is liu~r(' II >'hni`t.'i;5c- nl` nu-n willing and anxious to make mull p1u'('h:ist- (hr grinds; but it is c|c~:n'| It Inc-k.: tho Iubrir-a1inp,r ngc-nl win-nw (.'V(`l` tho linw In i'(-pay Iuzuis :n'~| I u-Inn... v1\I|.,II` Canadian (luv:-rnlm-ul, (Al N) U. S. State and .\Iunicip:\1, s1.m,u.4o,072.20 The ; \1etropo1I'tan is a mutual organization. I I- ` I I _ I ' A Its usscts are held for the benet of its policyholders, I . . . :~ 1 :1,,, ;,, `L- A`.,._.. .1 J.-..-1-..)- Canadian Provincial and Municipal $l08,728,l36.17 Railruad $60-1,(>05,03U.O9 Publi(`1`xi1ities $470,231,`H3.40 Industrial and M iI'l'dIH`& vus s.HJ,4o7,()()o.-13 FIU\uI\l - All but $38,047.76 are Preferred or t`-uar:um~z-d v. .r,\I.Iu |\r First liens an other Inrnpt-rX_\' $<>_*(l,4H,h()5.-10 I\'|\\ nu - uuuuu nu mu \ nu \'l Lin` \ 51.120.739.005 HI \\lm in $013.-H7.Ul9 \s.A~( `Al I L.-Auk n. \ The -total amount of .\I<-uulu-li(.n1 lifv in.~ur` tome in (`.m.uLl at the end uf the \r. on -\. -nu .uu . I I -..- ..-..... VI`|$`I`a\-"IIVLV -v. II||1\ u vxllu. $414,500,002 \\ .a.- lmhl~I1i.1l (L: uup. rlvcs. i Our sy.~:tmn of finuncinpz` is |)iI.\'1`(H upon the` 'ul.~`v prt-!nI:'o unnnagv can bn made to multiply, in is sh-x`i!-, llnwa-V:-r, ing um! st:-llirw, trun. mny ht-, and huWK`\'I`l` may lw nmtlv. HIl`l`(' mom-_v at 1110 1-nd nf trznlsm--| tions than lhorv is :11 lhv I):-uinnin;-,. for hfyWl'\.`(`l' much u s(-Hvr has. more. (hv buyer has (IlVWl_V.\' |u.~'.~'. Mn rn!|l'lI rnnnnv 1-nu hr: I-1-nnirl` The total number of Ilutsillg uddiliulml nut In our (}m.u1i.an 1957 .1: 303.044. .\Ic-Impulimn llralllh }MIl1li\'.l(inlls di.~tIibulcd in kanada duxing 1037 lumllc-I 4.285.031. Tutu! Total The Metropolitan Life Insurance company presents its report L I I I\...._`.1.... 71 1117'. --v .---_- -..'..-_..-- ___- __--- for the year ended l)ecc-mbt-1` 31, 1937. ncuuputuult I.) u Iluuuut ur5|.uu..uLuIn. 1:.) ucaxna nus uunu Jv: nus vsru. /u sq no Ilvllsyuv um! any d1'u'.nbl: surplus is rctu:nc'J to its pulicyhu/Jns in the form of dividends. The Business Side of the Ledger and the Human Side Insurance in l~'m"-: I `or a Divine `law cannot be evaded by calling usury interest, and sav- ing thrift. I 'T`I-up nnm-ntinn M` insnnance com- Ill llItllll'. Ill|`Il' I.\ III! lIl'II\ ll'1lll.\`ll('- has No more rnont.-_v mm bv l'('DZ1l(lS than is issm-rl thmw-fm'<-. nml n bur-; l`()W('l' mn nvuirl (1:-fnnll only b,\' l'm'(:ing .'III(|llIl'l' nncl pn.~'.. :::-\'uI' ul nlln-rs In (l('f!|lllL 'l`h(-rr- may h0' ln(:I'-zI.s'(`(l (lllL[)ll\ of grmrls m" ."(`l vice us llw r(-.-'nlt ml :1 loan, hul bnrmxw-1'.~: :u'(- nnl nllnwml to rp- pay lnmns and pay llw inn-r<-. chnrgv with p,:m(l.< or Sl`l'\'l|'l'. lml nrv (*xp('('l('rl lo (In tho in1pn.~:.~:ibl-l and nmkv thv mom-y int-H-xnsv. For n rr-nsun whit-h nrwrl nut lu- givvn ln-rv, guvu-x'nvn(-nt,< .';r(- sup- prm-tl to my all r-xponsv-s nut uf taxvs, but lhv wilh(lr:w.'ul ul` nmmyv cans:-s lrn(l(- m onn'1':-vl., thrm.v.~ many mt-n (ml of work, zmrl I'('(lll('('>' U19 income of still more and .~.n f(H'C('>' all zzuvornmt-nt lmclivs ln borrow. It is only the mnn(`_v In-in); bnrrmw-(l by mom to pay fur :n'nm- mcnts. tn puy publio nl'l'i-i:Il.<. on lrnnn Ihn Ilnl-lV\l\|fl\.'I'll nllvv ling lnl'lll.. The operation of insunance com-I panies and investment houses are: all predicted en the same false lpremise as banking, and although lsome have never yet failed to hon-I lei` their agreements. this is not proof they cannot fail. The penalty for any breach of any Divine law uis always preceded by ample xv-:u`n ing and imlxnly will elnim we have nup had plenty uf \v21rning in the way of financial crises (luring the last few years. I rovided proper at--1 [inn is taken it is possible in pre-; vent the loss of mum -_\' saved in the] past, but the eunnut be remuved as long; as we continue przlctiees which ave eilnsing it. A mistake does not et-use in be :1 mi.~;-~ lake because ever_vbmly hzix al- ways mmle it. ll0we\'e1' mzmy tim- es an (`I'I'uI` is repeated it 1'em.'iin-5 n `xiv Iilll ('l'!'U|' Nothing is` in bi` _:z:|in1-d ing our uyt-s 1-; unplu-`:1s:|x1t lurhing I'zu-ts. mm! H is think thv silu:nt.inn will um svlf. It is :Il.~:u El 1ni.~:1;1kq~ 1 J "mnblr-s nrv :nlwu_v.~: (luv tn ` to .\lr'lI'u|ital1 }mIi\`_\hu I (`.m.ul.Ad1u'ing 1037 \\ r-Iv wilt s7s2,172,o07.so The Business Side - for 1937 'lllIl(`|ll , s..+,_~>.a,u11.s2 &ll'lll5 $3,052,107.03 ASSI-`.'1`S '1'}u'sc= }u'_q}zIig}1fx of the (.`un2p(1ny's b1m'12es.s` in the Dominion (hum'ng bun 1`/n`/In/ed 1/1 I/'n' (I/mm` .\lu/`IH'lII.\') will be uf pu1'I1`'u/ul` 1'/rte`/`es! In .\Iwiru/ru/1'/:1/1'.< (.'u/nuliulz pu/tryhulders and I/MI` h'IzegI'it'iuI'irs. 1,655,208,107.35 llllll HIN For ` 1 nun ....... $845,-165,019.71 $1 1,400,600,] ":1: :)"u 994,096,712.s7 513,0-47,350.36 383_91. ,.L5.74 102,5S4,804.52 S1,-$2,758.76 V ...~ nu-u_v, and $98,572,527 v as 1<>,ow>_024 .=1u,.m4,'1u by (`lurk . and (H5.- fully In nrrm-v i! l|I l\l'l'|l whit-h !x`l(Ipp:I;. (` u 1-n1plu_vvr.~` would 1 l`('fllS('d which [1 orgmni`/.u-I I '1')... .-...- llIll'k'[ :1- III lhilll-I tn $Tl)l'(L.] old:-x .< and Irene- `... .... ._- ._ nmde xx ithuut uldc-1: duxing or vicious practices. for there is clearly nothing sordid about sav- ing and investing to provide for old age or the care of others in the unfortunate event of the pre- mature dorith of the bread-winner. 11' tilt` withdrawal of money contin- .ues, the industrial enterprises in which saved money has been in- vested will come to a standstill and become worthless. How is a change to be made without brvm.-h of existing ag1'et-.- mt.-ms: without conriscating money or p]'tip(.`l`i_V'. without giving away money. \vhi<:h must be earned: ;\vit,hout building something simp- i_v to ('l`t`~1li0 work, and without brin,,_{int: lhv wimlo strut'tu1`e down upon our in-axis ? To the above and similar questions :1 satisfactory an- ~'\V('l' must be given, but no change run or will he made until it is _r,:_r.-nor:1liy i't-trtigiiizctt that money is sterile and that consequently the puymt-ut or interest, is impossible. Attvnipts tn 1'('l1i(1\'l` the depres- sion. nithougth honest, have -all fail- mt Ix-vziiiso the truth of the forego- inp: stat:-mtint has not been recog- t"i ," i\T:itinn'|li')inn' inrinch-V hull!`-I |lHL', .\'lilll'HH'llI llnI5 HUI Ul.`L'll l'L'\'U};'] `mi /.c-(I. Nmix-n:1li'/.ingz industry, build- iinp 1'>m;r,r:nn1n(-s and other plans Statutory Policy Reserves: Amount \shich, with interest and future premiums, wi|l as- surv paynuem of pnlivy claims Dividends to Pollcyholdon: x'|||pur_u'I.\ nu u\IIu\ -nun.-. U mum- rm-ll.'| 1l1H`lll. Thv ing tlw (H.<:n'm:mu-x f(`I'(`II(`v >'imil:n` 1 fulluwing lot] in pm-~w:n1 nrnuum-I which lhr v our hlindm-s:. ln-M ing (luring: lnvt-nlirm I .:mu1h<-r nnnw whivh 1' luhur nwn I'J.. -. fun ..- ..\.....~........ Reserve for Future Payments on Supplementary Contracts Hold for Claims: Including claims awaiting com- ph-tinn nf proof and ostinuted amount uf unreported claims other Pollcy Obligations: Including dividends loft with (\unp.'my, pr:-miums paid in advance, etc. Miscellaneous Llabllltles: lmluding reserves for Accident and I leahh Insurance, accrued t.m~s puy.\h1- in 1`) 58, etc. Surplus andGononIVoIuntu-y Reserve: Thi: M r\ us as a margin of safety -3 ru~hiun agdillnt \`ul`lIillgv.`l'l- Cir: which cauuut be fun:-cen Payments to Ifelwfiriaries and I nll'(`yholder1: HI-lin.u_\' . . . . . . . . . . $_'_ 8,0.!6,25l.5l ln.Iu~`I1i.al . . . . . . . ` . . _ 34,200,1~H.()S lm-up I ii:-, H:-alth. uml Annuities (JU,451,88l..38 .. u \ 4 _ xx: |.| 1.-71lu|1\I -nlwup I In , nnunnn, dlltl -\lIlII I :-rsunul .~\ccident and Health . lin.u_\'; Set aside for payment for the year 1038 Total Iuuul IIII ulunnum In nun- Ruumnnsvxpvnrmwngl bmnnxnndlnhhngzngh ullhv(nu'thnv.nnd(wm hns no unvnunynnwn prubhunszn ;wvMun:lnH vnnnwy m muuu lul wurkx -Hu rt hn\`* I. 1:1-ulln-I'\