Lögberg - 17.02.1949, Blaðsíða 12

Lögberg - 17.02.1949, Blaðsíða 12
12 LÖGBERG, FIMTUDAGINN, 17. FEBRÚAR, 1949 The Monarch Life Reports Successful Year THE FORTY-THIRD ANNUAL MEETING of the Company was held at its Head Office, at Winnipeg, January 25th, 1949, with J. Elmer Woods, Vice President, presiding. The Company reported its most successful year in history. New business placed at risk in- cerased 9.4% to $25,524,000.00, while business in force increased 0om- When 9 tons of dynamite meet 35,400 tons of rock . . . We lcnow what happened at our Seven Sisters Falls Power Plant recently. A rock plug in the channel went “Boom” and disappeared into thin air and the hydro-electric power producing capa- city immediately increased by 30,000 horsepower. Over $8,000,000 is being spent on additional production capacity at Seven Sisters and when completed the plant will be the largest in the Prairie Provinces, producing 225,000 h.p. WINNIPEG ELECrmC COMPflNY 13.3% to $145,034,000.00. The amount of business in force has increased rapidly in recent years for it was only in 1946 that the Company first had $100,000,000 of business in force. The total amount paid or credited to policyholders and beneficiaries in the year was $3,893,690.00. While the amount of death claims paid was somewhat higher than the preceding year, the Company’s mortality experience continued to be favourable. For several years, prior to 1948, the interest earning rate showed a marked decline from year to years, a general experience with all investors. Shortly after the beginning of the year 1948, with the dropping of the price of Can- adian Government Bonds, and the consequent increase in yield of them, a moderate rise took place in the interest earning rate which could be obtained in new purchases of securities. This meant that during 1948, satisfac- tory investments were made at a slightly higher income return than had been obtainable in 1947. This and other favourable devel- opments arrested the rapid de- cline in the average interest earnings, with the result that the average rate earned on the Com- pany’s portfolio, in 1948, was 4.31%, a small, but satisfactory improvement over the rate of 4.26% earned in 1947. The Company’s investment in bonds increased substantially during the year. The amount of real estate held resulting from mortgage transactions has been negligible for some years. The percentage of total assets invest- ed in mortgages, preferred and common stocks was, in each case, less than at the previous year end. The moderate rise in the inter- est retum on new investments was very welcome but it meant, of course, that the market value of Canadian Government Bonds and all other securities in the portfolio at the beginning of the year was reduced. The mar- ket value, however, remained considerably in excess of the value at which these securities were carried in the books. The policy reserves were maintained on the conservative basis established in the preced- ing year and full provision was made for all of the other obliga- tions of the future, including dividends to policyholders pay- able in 1949 and all other divi- Fallegt og athyglisvert sönglagasafn (PY.h af bls. 10) Ég hefi látið syngja þessi lög og leika þau á hljófæri fyrir mig og þykja mér þau bæði falleg og að mörgu leyti tilkomumikil og falla vel að efni kvæðanna. Und- irspilið ber því einnig vitni, að þar hafi maður smekkvís og gæddur ríkri hljómlistarþekkingu og tilfinn- ingu verið að verki, eða svo sýn- ist mér leikmanninum í þeim efnum. Með öðrum orðum, þessi nýju sönglög höfundar virðast ótvírætt sverja sig í ætt til hinna fyrri sönglaga hans um ljóðræn- an blæ, skáldega hugkvæmni og samsvarandi tækni. Hefir hann því með þessu sönglagasafni auk- ið á hróður sinn og þann merka skerf, sem hanh hefir þegar lagt til Vestur-íslenzkrar söngmennt- ar og meningarlífs um hálfrar aldar skeið. Lögin eru tileinkuð konu höf- undar, frú Sigriði Hall, hinni góðkunnu söngkonu, og er það engum ofsögum sagt, að hún hef- ir, eins og þar er drengilega tekið fram, lagt mikinn skerf til vors íslenzka meningarlífs með fögr- um og listrænum söng sínum ára- tugum saman. Þess er einnig skylt að minnast og þakka, og jafnframt hins, hver stoð 'hún hefir verið manni sínum í söng- menntarfi hans, uppörvað hann og hvatt til dáða á því sviði, enda viðurkennir hann það fag- urlega með fyrgreindri tileink- un sönglagasafnsins. En ótaldar eru þær samkomur, sem þau hjónin hafa gert ánægjulegri auð dends accrued to the end of 1948. The fact that the decline of the interest earnings rate was arrested has meant that the in- vestment operations of the year were very satisfactory. Capital, Surplus and Reserve Funds con- stituting additional protection to policyholders and beneficiaries amounted at the year end to $3,432,093.00. The following Directors were re-elected to the Board, Edgar J. Tarr, K.C., LL.D., J. Elmer Woods, John A. Flanders, Robert J. Gourley, Peter Lowe, W. L. Parish, Stewart A. Searle, George E. Sharpe and C. Gordon Smith. At an organization meet- ing of the Directors, E. J. Tarr, K. C., LL.D. was re-elected Presi- dent and J. Elmer Woods was re- elected Vice President. Blue Ribbon Quality Products COFFEE A rich and flavory blend of freshly roasted, moder- ately priced coffee. TEA Always a favorite because it is always so delicious. BAKING POWDER Pure and Wholesome Ensures Baking Success ugri og minnistaæðari, með söng sínum og hljóðfæraslætti. Heill og heiður sé þeim öllum, sem auka á fjölbreytnina, lit- brigðin og listhæfnina, í okkar vestur-íslenzka menningarlífi. Má og vel muna það í því sam- bandi, að blómin á ákri andans, á hvaða sviði sem er, dafna ekki, fremur en gróður jarðarinnar, nema þau eigi við hin réttur vaxtarskilyrði að búa. Það er oss holt að bera í minni. (Sönglagasafn þetta, Songs of Iceland, má panta frá höfundin- um, S. K. Hall, Wyyard, Saskat- chewan, Canada, og kostar $1.75, einnig hið fyrra sönglagasafn hans, Icelandic Song Minialures, verð $1.50). VINARKVEÐJUR FRÁ . . . Rumford Laundry LAUNDERERS AND DRY CLEANERS Home St. and Wellingíon Ave. WINNIPEG, MANITOBA Phone 21 374 w Always Ask Your Grocer for Butter-Nut Bread 99 RICH AS BUTTER — SWEET AS A NUT “Canadas Finest Loaf” Phone 37144 CANADA BREAD C0. LTD. FRANK HANNIBAL,, Manager PIES - D'NUTS - ROLLS - RECEPTION CAKES Hagsýnt fólk situr jafnan við þann eldinn sem bezt brennur . . . Af þeim ástæðum er það, að viðskiftavinum vorum fjölgar óðfluga dag frá degi. Það kaupir enginn köttinn í sekknum, sem gerir sér það að reglu, að verzla í IHOP-EASY STORES LIMITED Búð Nr. 4 er að 894 Sargent Avenue

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