The retiring Directors were unanimously re-elected and are constituted as follows: (The market values given are those fixed by the Dominion Government Insurance Department). Bonds Government, Municipal, Railway Gas, Electric and other bonds: Cash in banks and on hand. Market Value. Real Estate, including Company's buildings. Loans on Company's policies (secured by reserves on same).. Outstanding premiums (less cost of collection). $10,167,393.75 8,434,753.98 7,890,896.81 7,890,896.81 $2,256,900.00 1,535,457.60 1,488,080.00 1,488,080.00 8,150,048.86 4,227,604.74 $ 1,310,603.50 Deferred premiums (less cost of collection). 493,632.55 1,804,236.05 (These items are secured by reserves included in liabilities). The distribution of profits for the coming year has most careful consideration. Life companies everyw tested as they never before were. Few indeed four have believed it possible that in this stage of such a would be in its present prosperous position. But ▾ ~ The duration of the war, future war mortality, f ditions, are all unknown. Your directors belie circumstances it is the duty of all life offices to to prepare for contingencies by retaining un normal a portion of the profits they would ot' is a war measure which we are sure our pol The reduction in profit payments to the ind and if later this precaution shall be found t a special or extra bonus will then be give At the inception of the war, your Dir financial resources of the Company as fa of the Governments of the Dominion ar to a less extent of our Allies. It is a r the Company has thus been able to ta ing to all the Canadian Government chasing large amounts of issues of oth This Annual Meeting is unique, i in the Company's new Head Office business has made the increased o necessity, while the improvement i the efficiency of the staff. Mr. H. the position of Comptroller of the. ship. Mr. John W. Ross has bee T. B. MACAULAY, the Annual Report of Meeting S. H. Ew. The Annual M holders of the Co in the new Hear Montreal. The occupied the chair. The F the Directors' Report for th able progress made during hearers to the new home not merely to meet the but to provide for the questionably has in store in the rear and at the sid extensions when these be pride that the amount of with payments made to by $5,893,264 the total 1 motion was seconded b briefly reviewed the Co vicissitudes of the earl of power and security ag to the .603,113.41 $90.100.174.1 LIABILITIES OF THE COMPANY Reserves on Life Policies according to the British Offices Less Reserves on policies re-assured..... $64,514,414.17 13,596,565.21 $78,110,979.38 191,354.00 Death Claims reported but not proved, or awaiting discharge. $77,919,625.38 966,368.56 230,000.00 Present value of Death Claims payable by instalments 534.524.88 213,155.64 Annuity Claims awaiting discharge.. 112,157.89 Dividends to policyholders declared, but not yet due, or awaiting discharge... 357,307.60 Profits allotted to Deferred Dividend Policies, issued on or after January 1st, 1911.. 90.933.28 Accumulated Credits on compound interest policies. 39.211.43 50.507.21 220,265.62 350,672.40 105,971.80 68,710.91 Premiums paid in advance. Sinking Fund deposited for maturing debentures, etc. Shareholders' account, including dividends due 1st January, 1918.. Total Liabilities.. Cash Surplus to policyholders by the Company's standard, as above.. Net Surplus over all Liabilities and capital stock. 350,000.00 8,550,761.64 Net Surplus over all Liabilities, except capital stock.. $ 8,900,761.64 The net Surplus over all Liabilities and capital stock according to the $81,259,412.60 8,900,761.64 $90,160,174.24 |