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HomeMy WebLinkAboutThe Lucknow Sentinel, 1961-02-22, Page 13ED1'+1�'A . 2z dt 1801. REGUL. 1,4 W ;SENTINEL, LUCK,NO W, ONTARIO• R WORK • twice a year You Will receive' your interest chegUes, when,, you, . invest in.a $rsh .Mortgage Guaranteed Certificate;•. ',interest for any Period from 3, to 1.0 . years paid from the day .your investment. is received in our office. o invest ---:see your local agent or send us your cheque:. A ritish Mortgage Certificates are approved'. ,`for trust hinds. BiR]ITJSll3.Ei.TGi !BITSTC©ME Founded to :1877 Head Office:' S,TRATFORD A- , British MOrtgage & Trust ;Company, Stratford • I enclosi y cheque for • • e cheque $ ..............:: for rnves�tment for years. • Please se' d' m . i Q n e a, free .folder •i.vn` fu U' inf g • . g d ormation. NAME LIGHTNING: ';LOSSES DOWN • (Continued,• from Page 1) pang 'that 'would not honour a claim after' 48 hours from :the, death • of''" a beak." , • In concluding his': remarks,. Mr. Th&mpson said, • in, " completing his 'term as president 'this; year he had considered it• an honour 'to' serve .in this position and •wisli- 'ed to express his thanks He paid tribute to Durnin Phillips; sec= : retarY 'of , the company, who''.re- certly:.was elected to' the execu- tive. committee of ; the : Mutual. Underwriters 'Association of '•the. Province of. Ontario. He 'said • :that.;it Was the; first tirne that this honour'had •come to a Mem- ber .of ,the• West Wawanosh com- pariy. Mr. Phlli' s modestly plied. stating that his main reason' for . .accepting" the ;position,. was that he, felt it' wascoming tothe company. •` .Secretary:- - Treasurer hrlli:•p� read the minutes of the 'last an-. nual meeting and, outlined the; auditors': report. He 'referred to• the fact that this Was . the last year for the reinsurance agree- ment with. the companies' Elm•a; Atwood; McKillop;'.Seaforth•'. Ha • Zurich; 'Dufferin,Shelburne;•Hib- •bert, Exeter. Every year In the past the company had lost under plan the :.reihsurance. but . this year they gained $10,000. In 'the last. five years reinsuranice .cost the company: ;$50,000.. The ,com- pany ended the year with 54c.in the 'surplus. for. every .hundred dollars .of: direct risk •in force. A: minimum requirement' is 25c. • • Following: their election as dir ectors, Frank Thompson, George' Feagan and Brown' •Smyth. • each •f spoke briefly. Mr.' Thompson ,'va- cated the chair' .'in favour of vice president' Smyth' during his elec ;tion a$1 director.. 'Other directors called on for a few, words were `Wiggins,''R.R 3;•Auburn; Paul Caesar, R.R. 1, 'Dungannon; Berson Irwin, Belgrave; Ross' McPhee, R, R.. 3, Auburn; :,Donalds PAGE' THIRTEEN; Kinloss Council Approves S�hao Debent.Of $.1.10 000 --- sue Coutncil' met' February' 6th, 1961,' as per adjournment,- members 'present. Evans and Bushell, that' the rninutes'of the last regular Meet- ing of January 9th, 1961, and'. special meeting of .January 24th as • read be .approved • and signed be in Clerk's, hands by Z. March 6th:: 198]; Bushelll and Ackert, that the tender of Lorne Eadie for sup- plying, the tile for the Johnston Drain at the' sum of $3,776,17 be accepted Evans and Ackert, that we do MaGIntyre and;: Evans, that we norw. adjourn to meet again on Monday, March 6th, .1961,' ' or at the call of ; the, Reeve. request the Highway Department -to' transfer of '1960 • appropriation... $780.15 from Road Construction , to: B . and C Construction and $1,000.00 • from 13utton S,R. in Supplementary , •By -Law•' No: 7, 1960, to Concession 12 east ',work in Supp. By-law' No, 7, 1960; Ackert'�':and . Bushell, that' .we pay 'W: B Chapman $40.90 Relief Supplies. • ' Ackert and' .: Evan,. that the' Clerk write the'Department .re grants in Redecorating Commun-, ity Hall Buildings; Bushell and Ackert, that Coun- cillors Evans and: Maclntyre be Council members- Of the 'White church Memorial Hall; . MacIntyre and Ackert, that • we purchase Lot 26,' Range 20. in South' •'Kinloss Cemetery includ- ing Perpetual Care for burial 'Of Indigent Patients: • Ackert and Bushell, `that' the Township of Kinloss ' authorize. Debentures to ' the arrount . of $110,000.00, for ' the: construc- tion •of Newt/ School for Town- ship School 'Area No. '1, •Kinloss. Maclntyre and Evans,: that the Clerk: apply. to'the Ontario Mun- icipal Board, for. -tentative appro val of the sale of Debentures amounting to- $110,000.00 for'con= 'struction of Township' School • Area No. ,1,; Kinloss. • . MacIntyre ':and Evans,.that :we advertise for• tenders . or'. the ,crushing and 'deliveringTwp. Roads, 1 . 0 000, cu. -on ,., yards.. of gravel' crushed 'ase.. square or s/4'.' 'round; 7,000 yards to'be on! the roads; by July 31st;; 1961 balance later: as •required, ',all `under; supervision of Road .Superintendent. Certified •:C;heque:.for 10% 'to . accompany tender. • Bushell sand Evans, that the: Clerk call 'for. sealed' tenders for 00 pounds of •Warble .Fly .Pow- er ' Pow- er,' to be delivered at the Town hip Hall Tenders 'to • be, in lerh's hands byMarch '6th,.1961. Ackert: and '1VJ! acIntyre,' that the Clerk adviertise for • Warble Fly operator, to• use own tractor on Township sprayer, but supply 'all ••fuel and oil for same,• and to c NON: n Thursday, 'February 23rd,the Ontario Department 'of. Transport will open a new. Driver Examination : Centre at 51.1. Colborne Street, Wal- kerton. Examinations for Chauffeurs' and Opera tors''' licences will be held, every Monday to Friday, '• inclusive, 8:30 am. to'5:00 p.m. \ Advance. appointments may be'made by'con- tacting the Ontario Department of Transport's Agent for. Motor. ,Vehicle licences. afld permits in Walkerton during the above hours of business. ONTARIO 'j PARTM hitter+: ea Jif 'Q�O� NSPORT A. G.MacNA, Deputy Minister'' • Cheques issued' Carruthers Nursing Home,. $255•.00; Fairhav- en Nursing' Horne, 100.00;: Pine--. crest. 1Vlar, or•, 200.00; S. J. Farmer, supplies; '4,27; ,Mrs.. Mansfield, caretaking; $.80 W. , R. Chapman, relief supplies, '40.90; Village Rip- ley, Hodgins fire call, 150.00; Vil- lage Lucknow, McIgall ' fire . call, 100;00, ' J: R. • Lane, Reg. 'B',M.D.. 1960, 1.00; Municipal ' World, R.S, 0:, 1960,-46.35;; South Kinloss Ce-• metery Board, Lot 26, `Range 20, 70.40; Albert Stanley, refund 1960 Dog tax, 2.00. Highway cheques =..E. G'a+rru thers; Road 'Supt., 32:50, mileage .: 29.3.5, .$61.85; H. McMil]an, opera- for;' 271.87; R. Conley, wingman; •.. 124.80; ' H. H 'Bannerman, snow' plowing, 1,227:50; • •Ray S�t.anley,• snow plowing, 483.00;` Don Gilles-, pie, snow plowing, 642,5.0,• Mc- Arthur •'Tire• •Service, set • grader ••. tires, 1,140•.00; ,John, W. •Hender son, bridge' ' lumiber, 52.85; Do Minion Road .Mach *Co.,; ` grader :repairs, 109:17; Cities. Service fuel .and: ail, 296.02;•• R. Forster,' snow plowing;: trucking, 67•.50 S. J:'Farmer, salt and wire,; 4:60; Huron :'and i inloss Tele., L. D. calls, , 4.60; : Morrison's : Garage, :weldinggrader, 7,50•' ' Wi g n,harim. Motors, towing service, 25 00;• :, Mansfield,•�.labor on grader, 118.61; John',McInnis, short` pay January, $2.00; : Huron :Motors. Supply ,head • li ' hts for ' grader; 10.00; J. R Lane, • unemploysnen't stamps, 17.20 •J: R. .LANE., CIerk. ;BELL CONTINUES T. Q • EXPAND• The expansion. of telephone facilities during • 1960 was ty- pical .o,f y-pical..of the ',situation'. across' the 'territory served " by. The•;. Bell Telephone "of 'Canada, it was • re- vealed in: the company's• 81st an- nual :report.. issued' • this ,week Last year's telephone construc•= • tion •program of $208 million was act the largest in thee company's his= as •InsPector : as ' well. Tenders ` to tory, the report states, and i 184;180 telephones were added to. MacKay, Ripley and John Mac- Lennan,.'. R.R. 3 Goderich,' who was' absent. • Marvin • McDowell .of BeigiavC who served : as : a director'of the. company for 'many. years • spoke briefly,` Others •called' On were: Allister Hughes, Holyrood, a. dir- ector of the Culross Mutual` Fire. Insurance. •Company,•; and Don Thompson."of the'Lucknow Sen tinel•1 'The president suggested the possibility' that.the. company might have to consider. writing classified insurance giving a ferent 'rate on ' livesto.ck, rural buildings, urban .buildings, • etc. Ross Touche and Co,.were re- appo nted' auditors, ` for • the .coin- t .party. The secretary gave a com r piete and informative' breakdown h of' .,the total risk, the- premiums s paid • in and the', losses paid out each particular type of risk, • p A few of the losses might be' of s interest: urban dWellings• ' :and contents, losses nil; rural .dwel- ling5, $696; rural contents, $1,095; d out buildings, ' $21,025; produce; . ,e+ $8,138; livestock, $16,950 (this'is r a very favourable anrnount . for livestock as compared with other ,�, years); churches;. • schools, and t halls, $56. The direct risk of the company . e is S35,987,171, Premiums collect- ed ,'totalled $91,703',:. Losses paid :I out were $53,085 on ' direct in- c surarice. The loss in • cents per p dollar of premium received was a n 57.83. The loss in cents per $100 tI those... In service.: • In Lucknow the, total number of telephones in service 'at . 'y. ear's end.was 489 said Paul Johnston,' / Belt manager for.•:this region According to, the report, net in - Carrie , totalled $53.5.11,907' for -.:last' year, $3,228.329 . higher:; than• in 195.9. 'Earnings Per 'Share 'amount=' ea to $2.52 or four cents higher. than in, the previous`, 'year.:, • Dividends for the, year totalled'• $2.20 a, .share, • anal surplus was •Increased by $5,072,867 t'o. $52 •$ 732,735 Or: 2:47 a . Share.' Taxes • • totalled $64,73•1,Q00 of $5,049;000 triol,* than in 1959. Wages and:salaries„in: 1960 tot- • 'ail'ed $159,028,668, `'Reflec.ting a •slow ing , doV.'n in he national econom;c•..''n ogrcss, evenues were7%5. per ''.:cent .; .igher than 'in' 1959', the :•e,:,rt, tates. "Expenses..intreased` .by 5,5 per cent, This j'elaticnship oints. up • the ' effect:ivenes:s of u tained cost control: •• "The two mater revenue 'cc,in orients `--•-• 1•°cal servi•re and long: istance service each incr ..as • d by 7.4 per cent. Other revenues, ose' by 9.7 per cent • • .At the year's- end, the n'.imber� i s}iaieholdei was 171.2.88, Of nese, 166,627, or 97‘,8, per cent. elide in Canada. and This . 2y .Per ent of the • s t•ock•, T Itis is 15. far he largest .i;cid • ''of• Canadian' hareoi'iieis in.' airy Canadian ompany; The American. Tel e hone and Telegraph •Company' ow holds only :3x-2 per° cent of le Company's shares. Of the Coinpany's' total' ottt-. standing long. term debt of 560 million, .88 per tent :.Ilii.. .been, i'a ,5c�cl i"t5','Canada, of insurance in force was •14,75. Brown Smyth, vice president of the company, will be the new president, it 4