how the sun life made thirtyeight millions profit in the year 1927 participating policyholders receive ninetyfive per cent of profits dividends to policyholders again increased company seeks legislation to maintain canadian control montreal the phenomenal record ot the sun lite assurance company is an inspiration to all canadians its income ot 102000000- is already equal to tho total revenue ot tho government ot canada in the yens 1910 and s3s000000 is certainly an amazing sum to have- earned a3 proflt in one year not many corporations anywhere can report such figures tho presidents intimate practical comments at the aunual meeting explaining how these- huge profits were mado were illuminating ot even greater moment however wero his statements regarding tho danger that this great canadian institution may pass from canadian control some months ago mr macaulay referred to tho activity ot wall street in tho buying of sun life stock and cautioned policyholders and shareholders of the menace it involved to an institution which was founded and dovolopod by canadians and which has obtained its phenomenal growth under canadian management subsequent events havo justified theso misgivings and ot the meeting tho first public intimation was given that tho sun life directors are seeking legislation at the present session of parliament which is intended to effectively forestall this danger precautions to maintain the companj canadian in character in concluding his address to tho shareholders and policyholders tho president mado tho following refer ence to the matter there 13 but one cloud on our hori zon our very prosperity has created a remarkablo demand for our capital btock we desire to ensure that this great company shall always remain strictly canadian in its control and in particular that its investments shall never come under wall street domina tion a hill which we havo intro duced into parliament will bo sub mitted for your approval if it bo passed it will give us tho protection we so much need and i know we can rely on tho wholehearted sympathy and support not only ot our stock holders and policyholders here pre sent but of our army of policyholders throughout the country tho meeting unanimously approved of the measure in question how im portant and how vital to canadians nro the interests at stake is disclosed in the report submitted to tho annual meeting of the company in moving tho adoption of tho re port president macaulay said you gentlemen havo become so ac customed to our presenting every year a statement surpassing all pre vious records that you come prepared to hear another report of that des cription i am quite sure however that not one ot you in his most op timistic mood expected a report so favourable as that which you now have our record for 1927 is indeed a remarkable one let me touch on tho main features remarkable growth strength and profits the new assurances completed amounted to 32s000000 an increase of over 62500000 the amount in force at the close of the year had risen to 14s7000000 and at the present moment is well ever 1500000000 the income exceeded 5102000000 an increase over tho previous year ot 23soo000 to me this is very im pressive not only has this item passed the one hundred million mark but the increase alone is equal to what was our total income but eight years ago which had been accumu lated by fortynine years ot strenuous effort a life company with a total income no greater than our increase would be an important corporation the assets have increased by 5g- 000000 and now exceed 400000000 but tho most wonderful of all these wonderful figures is the amount earned as profit 533000000 how great this figure is may bo judged from tho fact that the earnings of the previous year in which wo so re joiced were 520500000 it would be hardly reasonable to assume that our earnings of future years will continue on such a tremendous scale and wo have therefore set aside a largo part of this sum to provide for future con tingencies a great surplus and contingency fund our securities havo been valued on a very conservative basis but from oven these moderato values wo havo retasido another 500000 to provide for market fluctuations making tho total deduction under this heading 10000000 we have also set aside the follow ing amounts a further 5150q000 for unforeseen contingencies raising that fund to 512500000 5500000 to provide for possible greater longevity ot annuit ants raising that item to 2000000 and 1300000 to increase our re serves on tropical business besides writing oft another 51000000 on our head office and other buildings wo havo distributed 511100000 in profits to our policyholders and havo jalso set asldo 56200000 to cover pro fits accrued on policies after providing for all these amounts we have added 11000000 to our undivided surplus raising that sum from 34000000 to 45000000 scale of profits increased for eighth successive year the announcement however that will be received with the greatest en thusiasm is that for the eighth con secutive year we have increased tho scalo ot proflt payments to our policy holders tho basis of distribution for 1928 will call for nearly 900000 more than would the basis of last year profits of policyholders unexcelled in the worlds wo can already say that in profit ableness to our policyholders we are not excelled by any life company in the world but wo aro not satisfied and will not bo satisfied until we can make an even stronger statement than that years ago i told our field force that we hoped to bs able to an nounce an increase in our proflt scale for ten consecutive years we have maintained that record for eight years but tho ninth and tenth years have yet to come and their story has yet to bo told our huge undivided surplus and our great contingency fund3 are the best guarantee our policyholders can havo as to their future dividends large dividends the result of a wise investment policy you ask how wo are able to make theso hugo profits the 33000000 earned may be divided a coming ap proximately 14000000 from tho re gular life assurance operations of the company 55000000 from profits act ually realized by the redemption or sale of securities and 19000000 from increase in market values and o all the profits made in the participat ing branch the policyholders get ninetyfive per cent i would not have you suppose that we ever speculate we do not we of course do not hesitate to sell bonds or other fixedinterest securi ties when they rise to such premiums that tho yield is no longer satisfac tory but when we buy a stock we buy for permanent investment we buy to keep and we never sell merely be cause tho market valuo may have risen to a high figure we have how ever had an epidemic of security re demptions and as a result we havo the 55000000 of realized proflt high interest rate earned with no arrears even the normal earnings of a hfo company depend very largoly on tho rato ot interest it can obtain on its investments the current rato of interest has been steadily dropping for years and there is every indica tion that it will continue to drop for how long wo cannot tell tho out look for investors in bonds and mort gages is not encouraging that fact causes us no anxiety we have en listed many largo groups of tho balnlest most experienced most enor- getlc and most successful men on tho 1 continent to work for us to maintain our cooperation by becoming stock- holders in the outstanding basic cor- poratlons of tho country so that we share in all the profits that they make the dividends which wo receive ou our stock holdings aro already two millions more than were payable on the same stocks when we bought them our interest account of course includes also our dividend receipts and our record ij illuminating in 1921 tho average rato earned by us was g07 per cent in 1923 it was g20 per cent in 1924 g3s per cent in 1925 g41 per cent in 1925 gg9 per cent and in 1927 if we were to use tho same basis o calculation as in previous years the rate would bo gsl per cent we however do not wish to show such a high rate and as we always make a charge of 5 per cent against our interest earnings for in vestment oxpenses you will note that wo ara quoting only tho net rate 647 pei cent after deducting that invest ment expense the failing rate ot interest has no terrors for us tho quality of our securities may bo judsed by tho fact that not one dollar ot interost or dividend on any bond preferred or common stock listed in our a33eti as in arrears tor even one day buslnes doubled in four years tho position we havo attained justi fies enthusiasm but we must always look on the present a3 a mere vantage ground from which to plan for the future what i3 that future to be yoar after year we have been con fidently predicting the glorious future yet to come and that promised future is now unrolling itself before our eye3 in all us greatness and strength but what of todays future i have just been reading my own remarks of two years ago and already the figures of which we were then so proud look small and outgrown we have doub led in size now every five and a halt years since the company begat but our last doubling ha3 taken only four years and wo ara today growing more rapidly than ever before in our history i predict that the figures of two years hence will make even the figures of today look small and out grown in their turu sun life sets ts ovn pace people sometimes say when speak ing ot our progress yes life as- 3iiranco is growing wonderfully so it is but the sun life 13 not content to grow only at tho rate ot life assur ance generally statistics now avail able indicate that in 1927 the aggre gate new business of all the com panies operating in the united states exceeded the total for 192g by only one per cent and in canada by seven per cent but the new business of the sun life o canada shows an in crease of twentythree per cent we set our own pace our prosperity and popularity and the enthusiastic support of our six hundred thousand policyholders make our growth both rapid and certain the future still before us will i am convinced be more wonderful than anything we can now imagine and it is indeed a hap py thought that all that growth in size and all that growth in prosperity mean increased service to humanity and service at steadily lowering cost to our policyholders the president eiosed his remarks by hl3 reference to the need of safe guarding tho future ot the company as above quoted the board of directors of the sun life is composed of the following t b macaulay fia fas presi dent and managing director arthur b wood fia fas vicepresi dent and actuary robert adair w m birks hon raoul dandurand j redpath dougal sir herbert s holt abner kingman j w mcconnell c e nelll carl riordon john w ross his honour james c tory hon lome c webster three new direc tors were added at the meeting hon l a taschereau ros3 h mcmaster and c b mcxaught sunday school lesson why tho red stag should cast itts solid antlers every spring naturalists havo not discovered they only know tho purpose of growing them the guarding ot tho family herd ot hinds from stray rivals outcasts la japan tho etaa have banded together 200000 of them to compol social recognition that there should bo no pariahs in a nation tholr badge is a crown of thorns on a bloodred field march 13 lesson xii jesus teaches sincerity mark 7 113 golden text keep thy heart with all diligence for out of it are the issues of life prov 4 23 human tradition a3 opposed to the divine will introduction again and again jesus had to declare that what the pharisees and other religious jews considered to be the undoubted will of god was not gods will at all but only a human ordinance or established cus tom the pharisees in their study of the bible had built up an elaborate system of rules and regulations which was known as the tradition of the elders tho object of it wo3 to bring tho whole lifo of man even in its pet tiest details under the control of re ligious principle but they miscon strued the meaning of religion thus in tho matter of purity they laid all tho stress upon ceremonial washings before and after meals and whoever did not conform to these was con demned a3 an irreligious person thus the pharisee wished to separate is rael from all other peoples to build a high fence of tho law round the whole of jewish life but jesus saw- that in this zeal for outward or le- vitlcal puritv they were emphasizing the wrong thing they were forget ting that what god requires above everything else in a pure sincere heart so we find jesus condemning the socalled tradition and calling men back to a purer sense of gods moral demands justice righteousness mercy and truth in this ho resembled though he far surpassed the prophets 1 he possessed an inward knowledge of gods will and he asked men not to follow a blind tradition but to study for themselves what god required jthey could only serve and love god if their hearts were right in his sight- vs 1 2 the pharisees joined by a number of scribes comrlain that jesus permits certain ungoa laxities among his disciples ho does not in sist on the scrupulous performance of the due washings or lustrations be fore and after meals the object of this charge is to discredit jesus claim to be a teacher sent from god if he were truly a man of god he would not be chargeable with such scandal ous omissions of religious require ments vs 3 5 the evangelist mark who is writing for roman christians who do not know tho customs of the jews explains here the nature of the phari saic requirements insisting on the tradition handed down from the eld ers tho pharisees said that every pious jew must pour water on his hands and lave them up to the wrist before sitting down to food he must also wash and purify everything that comes from the market and cups crocks pots and other utensils used in tho house must all be ceremonially rinsed from time to time consequent ly the pharisees charge jesus with re jecting the tradition o tho elders vs 6 8- jesus answer to the phari sees is that this insistence on the tra dition of the elders supplies a fine il lustration of what isaiah condemned when speaking for god to israel he said this people of israel honor me with their lips but their heart is far from me yet is their worship of me futile since the doctrines which they teach are manmade rules jesus condemns the tradition as a manmade system not tho authentic expression of gods will he knew that many who observed the ceremon ial washings were impure and dis honest in heart and that what really made the market unclean was dis honest business so he said that self ishness graft and lying were worse than the neglect of handwashing and that handwashing would not avail in gods sight if the heart were black or impure you set aside gods com mandment he said in order to keep your human tradition vs 012 another striking illus tration of the same blind rejection of gods undoubted will in favor of mere ly human customs follows if thero was anything that god commanded it was that children should reverence their parents as required in the fifth commandment and if this command ment meant anything at all it meant that the children should be respon sible for their parents support when ago or infirmity came on but the pharisees were accustomed to exempt from this responsibility any man who said that his property was corban that is dedicated to the temple for religious purposes if a man that is pronounced the word corban over any of his possessions this oath was i to bo considered so binding that he must not use any part of these pos sessions even to save his father or his mother from destitution jesus- pro nounced this a fine illustration of hon oring the tradition at the expense of gods holy will v 13 hence jesus summing up says that the pharisees actually abro gate the will of god in order to up hold their tradition so concerned ore they about oaths or supposed oaths that they look without compunction on the defrauding of helpless parents in their old oge the master points out ithat such hypocrisy amounts to the repealing of gods word it is as though they thought to remove god from hi3 throne an easily fashioned apron the smart apron shown hero is cut in ono piece and has a vshaped neck tho back laps over the front under the arms and there are two useful patch pockets- unbleached muslin gingham chambray cretonne or percale are suitable materials for fashioning this apron and a note of contrast may bo introduced in tho binding as illus trated no 1710 is in sizes 3g 40 and 4 inches bust size 40 requires 2 yards 32 or 36inch material price 2cc the pattern our fashion book illustrating the newest and most practical style will be of interest to tho home dressmaker price of the book 10c the copy how to order patterns write your name and address plain ly giving number and size of such patterns as you want enclose 20c inl stamps or coin coin preferred wrap it carefully for each number and address your orrer to pattern dept wilson pattern seivice 73 west ade laide st toronto patterns sent by return mail jail william tell cleveland expatrolman henry fiisehkorn has something ou william tell he must spend four months in the workhouse for trying to imitate the famous sharpshooter frlschkorn tried tho stunt with his police pistol firing at tho hat of george reynerd he not only hit the hat but also the head of tho man with whom ho had been discussing the merits of his weapon tho period between birth and a col lege career should- be called froth one crib to another briton foresees generation that will never get out of bed head line it will differ radically from the present younger generation which never goes there in tho good old days a man could go out and set rouslngly drunk and in the morning when ho woko up with a splitting headache ho would put his hand to his forehead and say gosh i wish i were dead nowadays a man goes out and gets rouslngly drunk and in the morning when he wakes up with a splitting hoadacho he is dead one cf the rst jobs to be carried out after a aovr house is built or af ter extensive readjustments havo taken place in the grounds about tho homo is that of making a lawn tho soil must be put in good condition as grass requires food fully as much as flowers and the surface must bs made level too much emphasis can not ba laid on the last point as au un even lawn u always unsightly and after the ground is planted levelling up la no easy task make the wholo plot as level as possible by working thoroughly and raking soil into the depressions this should be dono just as soon as possible so that spring rains and perhaps a frost or two may hasten settling after a week work and rako level again thl3 operation should bo repeated at least a conplo ot tlmos and where it is not neces sary to depend entirely on rain for a moisture supply it should be kept up for a month or six weeks whero there is no hoso however the lawn will have to bo sown before the mid dle ot may so that the spring rain fall will give it a start after old bricks stones and sticks have been removed all noticeable weed growth destroyed and when the surface is as level as possible tho seed may be put in select a day when there is no wind and do not neglect to seed liber ally it is also important to secure tho best seed possible as one does not want to sow a lot ot weeds along with the grass if you have a roller this is the best implement to use to press tho seed in the ground a pounder is the noxt best and if neither ot these two affairs aro obtainable rake it lightly growth will commence quickly ns grass prefers cool weather to hast en things along a light application ol nitrate of soda every ten days is ad visable t is a good plan to put this on just hpfore a rain or even during the shower cutting should commence with a very sharp mower a dull ma chine will pull out the tender grass- as soon as the shoots are up a couplo of inches and should be continued at intervals of a week as long a3 tho lawn keeps growing hollows that appear- aftor sowing can be gradually filled in with fine soil or sand but not more than half an inch should be put on at ono tlmo there should bo no unnecessary tramping over tho new lawn until it has had a two months start screening buildings a little planning will often rosult in a beautiful back garden even whoro a garage and chicken houso are pro minent features of a thirtyfoot lot annual climbers such as wild hops wild cucumbers scarlet runner beans sweet peas morning glories and sev eral others may bo trained by means of clumps of shrubbery or tall annual flowers for a more permanent job boston ivy virginia creeper dutch mans pipe and similar perennials may be used but these wil jake longer to get established sunflowers make a good screen for a chicken houso and in addition provide shado and food for the poultry the scarlet run ner beans in addition to being beauti ful bloomers furnish fresh string beans of excellent quality for tho table tho morning glories may bo mixed with these for a thicker foli age this is the month for pruning in tho small garden and larger placo too all ot the dead canes should bo removed from the raspberry patch ns wel as the dpindly ones among tho sow growth some of tho older wood should bo cut away from tho gooso- borries and currants grapes must ho pruned early to avoid excessive bleeding these vines shauld bo cut back to a mere skeleton as the fruit is borne on the wood grown this year fruit trees should bo opened up to lot in sunlight and air bridetotbe what did your friend say wlion you showed him my photo graph fiance nothing ho just pressed my hand in silence it is still possible for a girl to turn a mans head declares a writer es pecially it her skirts aro short enough mutt and jeff bud fisber thats getting money under false pretenses mutt we wont wwe to worfcv aboot our hafa amoesevs from noujoml ive 5ot a stcady job ujritimg stokies for ft magazine v i v-