Lögberg - 17.02.1949, Page 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