THE
DAlL?
NEWS
Tueda
.
PAGE
SIX
Bulwark
of
$100,000,000
Protects
Sun
Life
Investments
Unique
Financial
Position
of
Company
Discussed
President
Macaulay
in
Annual
Address
pun-gins
'
talse
the
Amount
to
I
.51WU,(JU,WW.
nPtiis
'hen
that-
the
rnirket
!'
Vto
oT
our
sieutitle.
could.
,
hlnk
by
$100,0001)6
wifndut
'edftcint
eur
surplus
by
on
do-
i
i..Ki
t
..KfThey
permit
Investments
but
safety
must
be
our
para
mount
consideration;
and
if,
as
we
confidently
anticipate,
the
margins
prove
not
to
be
required,
thoy
will
In
time
be
available
for
distribution
among
our
policyholders.
And
what
possibilities
for
i
our
policyholders
do
these
margins
represent
I
I'raUoH
Canadian
Law
our
bv
MONTREAL,
Feb.
10.
The
phenomenal
growth
and
success
of
the
Sun
Life
Assurance
Company
of
Canada
lends
widespread
interest
oacii
year
tu
the
annual
address
of
the
President,
Mr.
T.
B.
Mae-
Tiiii
annual
gjIng,
which
has
Just
been
held,
disclosed
a
continuation
of
this
ejarwion,
but
it
was
more
noteworthy
still
for
an
announcement,
almost
startling
in
character,
by
Mr.
Macaulay
regarding
the
financial
strength
of
the
Company.
He
stated
that
so
cart-fully
had
the
directors
anticipated
every
possible
adverse
contingency
in
the
money
market
that
even
a
panic
which
would
reduce
the
value
of
the
asset
by
one
hundred
millions
of
dollars,
wouldstilI
leave
untouched
and
unimpaired
the
shown
surplus
and
reserves
of
the
Company.
Mr,
Macaulay
dwelt
as
well
in
a
most
interesting
and
illuminating
manner
upon
the
relative
merits
of
the
varied
securities
in
which
in--irance
companies
invest
their
funds,
and
of
how
traditional
views
on
investment
have
altered
owing
to
the
changed
conditions
of
mode'.n
iiu.
iiKs.-i.
lie
said
in
part:
'-'It
is
,'i
great
pleasure
to
move
the
adoption
of
this
report,
for
the
refcVmr
ibVets
fo:h
is
a
remarkable
one.
J'-;
"
A
MitFe
sUtWnent
of
the
increases
over
the
figures
of
the
previous
year
is
injprt4ve.
Imjncpme
the
increase
is
$41,972,000;
in
assets
87
650,jW;:3in;suiFplus
$0,157,000;
in
new
assurances
1112,836,000;
'and
in
total
in
force
$408,925,000.
.
A
company
with
total
business
equal
to
these
increases
would-be
a
large
and
poweiful
institution.
It
is
but
three
years
since
we
rejoiced
at
passing
the
mile-stohedT
...21
iAiULArilA
AAA
miinM
in
fnw
anrl
vof
1
rpfl
lv
wn
n
rn
T1P.1
"t
ni
$2,000,000,000,
while
at
this
moment
our
assets
exceed
$500,000,000.
"But
there
is
another
feaUr.e
even
more
striking
and
important.
Advance
figures
indicate
that
the
increase
over
the
previous
year
In
th
i
tew
business
written
by
the
combined
life
companies
of
the
continent
was
approximately
8
per
cent.,
and
the
inerease
in
the
combined
total
in
fore
approximately
9
per
cent.
Against
these
percentages
let
me
place
the
figures
of
the
Sun
Life:
our
new
assurances
increased
34
per
cent.,
while
our
total
in
force
increased
27
per
cent.
"I
need
not
fu.iher
emphasize
the
rapid
expansion
of
our
business.
It
is
but
a
continuation,
though
in
accelerating
degree,
of
our
normal
'n.
That
the
Company
is
extraordinarily
popular
with
the
in-i
i'
:
li(
N
i-vident.
But
people
will
hardly
show.so
pronounced
R
tli!.
ut
reason.
That
reason
unquestionably
is
the
great
m
th-
(
impany,
and
its
unusual
profitearning
power.
The
.
irri
'-
anwvin.-i-d
In
the
repoit
are
slightly
4n
excess
of
$40,000,000;
i
.
,
-.'.;:!!
intimated
that
had
we
desired
to
do
o
we
could
have
j
-
i
it
f
(
r
a
much
larger
amount.
We;
however,
follow
our
j
i
.i-ei
M.tive
policy
.
We
always
have
before
our
minds
the
-!!,
ii
y
of
a
business
depression,
which
might
occasion
heavy
in
market
values
of
all
classes
of
securities.
Mortgage
se--
.
u
-urh
a
time
become
totally
unsaleable,
but
that
fact
.
'
!
t,very
fluctuation
in
the
prices
at
which
stocks
and
'
:
turned
into
immediate
cash
is
quoted
on
the
Stock
Sciurfties
Heavily
Under-
.
"
valued
build
up
protective
reserves;
and.
fc.-.v.
gl
ided
to
take
our
above
all,
specialization
in
the
.
hoi
tei
s
into
our
confidence
safe
and
profitable
investment'
at
i
n:
j.-i
im-nylete
way,
so
thatjthe
funds.
v
n
;
i
y
r.
uii.a
how
fully
oui
i
"Our
investment
policy
is
in
..:
i
h..'-e
provided
agafnst
fact
a
distinguishing
characterise
-
:..
of
this
kind.
:
tic
of
the
Company.
Our
develop-'a
will
notice
that
we
say
that
ment
and
prosperity
would
have
,uu.ed
are
those
given!
been
impossible
but
for
our
in-i...
fc
i
i
rnmeut
department
er
vestment
policy,
and
our
invest-lonvr.
.
There
is
much
in
those
,
ment
policy
could
not
have
been
w.
'..nn:n.
ihey
mean
that
thejpursued
but
for
the
wise
invest-.
.
g
ifn
m
the
report
are
j
ment
provisions
of
our
Canadian
j.,vi..:.uiMWiy
$62,500,000
less
Insurance
Law.
That
law
stands
ti:
!i
ihr
,,r!j5l
current
values
of
j
before
the
world
as
a
monument
it....
-M-urities
on
the
Exchanges,
j
to
the
wisdom
of
our
Dominion
'!!-;.
ve
have
the
additional
de-1
Parliament
Companies
of
many
'.i
from
market
values
of
j
other
lands
are
either
permittee
iv.ii
"(
'."90,
referred
to
In
the
re-
unwise
freedom,
or
are
hampered
i
:
.mil
'also
the
special
con-1
by
restrictions,
equally
unwise,
ii
mserve
of
$12,500,000.
'which
prohibit
investment
in
-i
i
ms
total
$95,000,000,
and
'many
of
the
most
desirable
sec
unlisted
assets
and
other
l
urities.
The
Canadian
Act,,
by
in:
Tery
much
if
even
the
catastrophe1""1
mortgages
(up
to
sixty
Y
per
per
of
the
value);
appraised
of
another
world
war
could
pro-
:.
a.....
nrM.inn
govsrnment
and
municipal
bonds;
...
it
ma
,
wn.ilH
.till
corporation
bonds
secured
by
uJ'
,,nHiM
r.
mortgage;
"preferred
stocks
.
tr.
i
nnnnnn
nra
corporations
which
have
paid
dividend,
for
the
preceding
-five
td
be
hardly
likely.
L
think,
eriticized
for
lacl
of
conserva-ea
ana
c0,"1"10"
M0CK
,r"'
1
which
hav
paid
dlvid
poratloiu
tlsm.
I
do
not
know
any
other
fimiai
onrnnmttnti
whlph
R5r8-enas
ior
tne
preceding
seven
it.
.t.
.
nrtot(.d.
Hmarln
lyea.
uch
dividends
being
not
V"
"
r,
.
.
we
arc
more
likely
to
be
told
thai
we
have
been
too
conservative:
if
so.
that
is
a
criticism
we
must
;
contrast,
permits
reasonable
free
dora
to
the
companies,
while
fully
safeguarding
policyholders,
f
V
,
Jnveijimejnil'rovisfonjt
"It
may
be
timely
to
summarise
briefly
the
provisions
of
our
law
less
than
tour
per
cent,
per
an
num.
or
$500,000
per
annum
In
amount
These
provisions
avoid
endure.
Our
safety
margins
mayKn
extreme
both
of
unwise
free-
perhaps
be
unnecessarily
large.
1""'
"u
resmruon.
To
my
mind
they
are
almost
Ideal
"Our
list
of
assets
shows
that
we
own
securities
of
larg
amount
in
all
classes
authorized
by
the
Act
.'With
the
great
growth
of
the
Company,
the
problem
of
Inves
ting
Its
constantly
Jnereasing
fund
becomes
mortyand-more
Im
portant.
What
avenues
are
onen
But
let
ua
look
further
intoito
us?
A
for
mortgages,
we
are
AAvntnff
mtWnr
Thafa
f.ra'miiat
ll
nn'dllnn
t
t
..
V.
1T.1
.
...
many
contributing
factors:
ner
getld,
yet
jcautloua
economical
agency
inanagement;
careful
selection
of
frsTcs;'
conservatrsm
In
encles
In
distant
centres,
of
whose
renl
estate
values,
conditions
and
dangers,
we
know
noth
ing.
That
would
tin
tfi.
entrust
always
retaining
a
considerable
the
safety
of
our
Investments,
proportion
of
our
earnings
toeven
to
a
large
extent
the
safety
of
our
Company,
to
the
judgment
of
strangers.
Government
anu
municipal
f
easing,
jfipld
Tor-a,-very
considerable
part
f
our
Investments
we
must,
consequently,
look
to
those
classes
of
common
stocks
which
zed
by
our
Canadian
Act.
tunately
when
the
same
I'egreel
f
care
M
is
necessary
for
safety
j
;n
selecting
mortgages
and
bonds
's
applied
to
the
selection
of
common
stocks,
especially
withlu
the
conservative
limits
laid
down
by
the
Act,
these
selected
securities
are,
in
the
judgment
and
experience
of
the
thoughtful
and
well-informed,
among
the
choicest
and
safest
of
all
investments
and
y
fr
the
most
profitahU
and
Hsirable.
m
No
Magic
in
'Bond
"Consi'er
oiortgagett
What
company
has
not
suffered
loes.
.jid
sometimes
very
heavy
losses,
.,n
its
mortgage
investment.
As
&
bonds,
some
people
seem
to
jpnsder
that
there
is
magic
security
in
the
label
'bond.'
This
popular
bertef
is
not
supported
by
experience.
The
surplus
earn
ings
and
margins
of
many
companies,
over
and
above
the
div-.isnd
requirements
of
their
stocks,
are
much
rreater
thin
the
surplue
earned
by
other
companies
in
exceea
of
the
interest
requirements
of
their
bonds.
Few
experienced
financiers
wouH
claim
that
the
bonds
usualiv
--fered
are
safer
than,
or
even
us
safe
as.
steek
of
such
companies
as
the
Montreal
Light
Hast
t-Power,
American
Telephone
and
Telegraph,
Commonwealth
Edison.
and
many
others
1
could
name.
The
payment
Oi
the
interest
c
the
bonds
is
certainly
no
more
sure
than
the
payment
of
the
dividends
on
the
stocks.
In
th
very
unlikely
event
of
the
divi:
end
on
any
such
choice
stock
b-Ing
reduced,
It
would
be
certain
to
be
far
more
than
offset
by
ncreases
in
the
dividends
or
others.
Our
own
average
interest
rate
has
been
Steadily
mounting
year
after
year,
due
solely
to
In
creased
dividends
and
benuses
received
on
our
stocks
beyond
the
rates
poyable
on
those
stocks
when
we
purchased
them.
As
an
llusration,
take
the
common
stocks
purchased
by
us
in
1923:
the
actual
cash
yield
from
these
fn
1928.
represented
a
return
of
2.38
per
cent,
on
the
purchas-
price
greater
than
the
dividends
payable
on
these
stocks
at
the
time
of
purchase,
while
the
av
erage
value
of
the
rights
and
Hnnuses
received
during
the
intervening
five
years
has
amounted
to
a
further
.38
per
cent,
per
annum.
Only
Tested
Securities'
Purchased
"
F
t.
.
ratnrltf.n
Iauj
tvl&atv
ail.
.
UUI
VC
1IUU1U.I
IK
"
avwj
judes
stocks
of
all
companies
that
do
not
have
a
long
rccor.
a
dividend
paying
and
prosper-
ur.
But
we
go
touch
further
than
that
We
Hmit
ourselves'
a!
4ugt
entirely
to
eorpwrationft
that
ItjKW
JttHlnvl,
(juifsmirng
flnan-I
nal
strength',
with
great
reserves
ijirt
resources
already
MtaoHsnea,
Uiat
supply
some
product
or
ser
m
eseential
to
the
life
of
th?
.immunity,
and
that
usually
are
Jmlnant
In
their
respective
'joheres.
Such
corporations
hava
.iiir
ruui.3
obmv
iu
lire
me
"
the
nation
they
serve,
and
are
ni
most
nart
of
the
nation
itself
the
nation
cannot
grow
and
pror
jer
without
their
growing
and
OrosuerinK.
The
operations
f
uch
corporations
can
httrdly
fai
to
expand,
and
their
-profits
in
crease,
surely
and
steadily;
nnd
this
is
but
another
way
of
saying
tfiat
the
stocks
of
such
select
and
outstanding
corporations
ran
hardly
fall
to
be
of
greater
in
trinsic
valuo
five,
ten
and
twenty
years
henee
than
they
are
to-day
"Let
me
repeat
what
I
have
al
ready
said
on
many
occasion
We
do
not
speculate.
We
buy
to
keep.
We
never
sell
the
tok
merely
because
it
has
risen
to
a
high
figure.
Slock
nxchnngo
quotations
influenceiour
decisions
as
!ti
wheeler
we
.should
buy
a
security,
but
not
as
to
whether
we
should
sell.
If
quotations
be
high,
we
can
ignore
them,
and
In
fact,
do
ignore
them.
Policyholders'
Profits
Again
Increased
"There
is
no
department
of
a
serves
closer
study
and
investigation
than
the
investments
of
"bonds
yield
but
DUt
,.1-iuhm.
ts
funds.
No
other
department
policyholders
with
the
years.
A
Company
with
a
passing
Soul
oays.ervice,
both
at
head
of
fice-
and
In
the
fieW,
It
is
seen
ilso
Ih
.the
enthusiastic
support
accorded
i
us
by
.
our
legions
of
polfiyholdeia.
Our
relationship
with
them
is
something
more
than
tha-
Of-
mere
-
business
co-opera
tion.
The
sense
of
mutual
con-frdence
and
mutual
appreciation
Is
sb
strong
as
to
be
akin
to
friendship,
and
It
is
as
our
friends
I
like
to
think
of
them
Thti
delightful
relationship
Is
the
reward
of
unwearied
and
successful
service
on
their
behalf
and
it
ia
a
reward
which
is
greatly
prized.
The
Hill
Before
Parliament
"i
wm
now
sy
a
few
words
abftdt
the
tliM
we
nave
before
Parliament,
'ihere
has
been
so
much
mitundersiuiding
anu
mis-representatidn
about
it
that
I
ctuufe
yob
woifo:
Hue
a
plain
statemerii
of
the
atfts.
"i'he
bVigindl
Charter,
granted
n
18b6,
autnonzeo
ioe
company
s
capital
at
.OOuiO.
An
amen-uing
Act
passed
in
1871
contained
4
somewhat
ambigiions
clause,
which
HVs
-
been
interpreted
in
some
quarters'
as
limiting
the
oapHai"
tb
yAOOO,00O.
hive
em-.neiit
le-ral
authorities
to
whom
ve
sUbiuUtto;
the
question
assure
us
that
the
original
authorisation
a
unaffected
by
that
anieuu-
merlU'
but'adviSed
us
that
it
would
e
welt
to
nave
the
matter
put
be
yond
doubt
by
a
brief
clarifying
fc.Of
parliament.
"We
do
net
ooK
that
the
capital
ue
ItKreaeed;
we
merely
ask
that
eur
right
to
iseue
stock
up
to
the
ireexi
item
nt
originally
authorized
be
from
legal
ambiguity
nv
pie
declaratory
clause.
t
why
do
we
require
a
lar-
f
Capital
than
the
present
$2,-Chiefly
for
two
reasons:
'
Tl
Because
the
present
cap
ital
is
manifestly
out
of
all
pro
portion
to
the
magnitude
of
tq
Corrlpany's
operations.
It
is
ab
jure
that
a
Company.,
whose,
ag
ts
an'
already
$30U.ouo.ow.
heuld
be
contreMed
by
a
capital
f
tS-O'
0-000.
"(2)
Because
we
wish
to
en-
sufit
that
thh
great
Company
shot)
never'
fall
into
undesirable
hlptls.
We
cannot
niter
the
status
ef
our
existing
shares,
but
we
anV'
in.pofe
restrictions
on
the
tnthsfer
of
the
new
shares
which
ill
be
an
effectual
safeguard.
"It
hus
been
said
that
such
an
!rwrease
weuld
divert
from
the
policyholders
profits
properly
be-
onfting
to
them.
This
is
the
ex-ict
opposite
of
the
truth.
"The
Insurance
Act
allows
jtockhuUlefs
to
receive
ten
per
cent,
of
the
profits
distributed
frem
the
participating
branch.
Our
stockholders
long
ago
reduced
their
share
to
five
per
cent.
All
our
contracts
for
thir
ty
years
past
have
been:
made
6n
the
agreement
that
thevartlcipa-tlng
policyholder
shall
receive
ninety-five
per
cent,
of
these
profits,
and
that
right
any
of
our
members
could
enforce
In
any
court
of
law
.
.
Policyholder
to
Benefit
"The
amountlof
tyrofl;
accruing
to
shareholders
cannot
be
increased
or
in
any
way
affected
by
higher
capitalization.
It
is
impossible
that
any
Increase
In
capital
could
Injure
the
policyholders;
on
the
other
hand,
every
additional
amount
paid
in
by
the
shareholders
gives
additional
Be-
Company's
business
which
d-,curity.
'And
no
additional
cap-
ital
will
be
issued,
except
in
return
for
actual
cash.
The
small
percentage
of
profit
fidently
anticipate
even
greater
benefits
In
th
future.
'
"For
another
reason,
however,
and
correspondingly-
increasing
their
individual
profits.
"I
can
thing
of
no
proper
ob-
,
v0
uunuun
U
'
totion
to
the
11111.
It
will
Inn.
of
of
interest
interest.
As
for
win
give
suin
;";;
a
generous
commission
"-,.
,
for
nobody,
nhnAv
nnH
and
win
will
hi
help
everybody;
,,..-,.,.
ow
rates
to
it.
(heir
share
or
Sr.STZk
ronT
Si
:
-IM.
to
iU
Investments
that
guaranteeing
and
managingthe
policyhc
den,
most
of
all:
I
am
,
"
,
,,
j
nr
.
util-lour
n
nnr
rnmt.i,
Lompany
WM
its
us
imprif
imDreg-
company,
i
'
unaer
.
ne
nrnnaKeiueiii
.
cijr
ruic
mai
uui
I'uncjruuiuers
caslonal
railway
and
public
-
Life
ihroutrhout
the
land
will
nrp
ity
issues,
the
strongest
corpora
tlons
are
rapidly
redeeming
their
obligations,
and
no
longer
need
to
borrow.
Desirable
bpjuj3.th.ffe-.
fore
represent
a
constantly
de-
laoie
position,
ana
me
niagimuuc
.
----
....
which
pol-
Assurance
Company
of
Canada
with
us.
of
the
profiU
in
our
icyholders
rejoice.
Many
years
has
grown
to
huge
proportions.;
I
apologize
for
speaking
at
ago
I
expressed
the
hope
that
I
Its
agencies
encircle
the
globe,
eueh
lengthy
but
It
appeared
to
be
NvouTob1encenn"ant
lias
done
riiucn
to
make
itecessary.
Increased
scale
.of
profits
every
Canada
known
.
and
honoured
"I
now
move
the
adoption
of
yeaP'fbf
at
leak
ten
years.
We.
around
the1
world.
It
has
become,
the
lleport.
It
is,
I
venture
to
now
make
that
announcement,
for
one
of
the
greatest
financial
cor-
tfcink,
bno
of
the
most
eminently
Hip
ninth
n,i
pasive
vear.
and
I
porations
in
existence.
Its
pol-.satisfactory
and
noteworthy
re-
1
4
u.
i
...,,.i
iViua
nrntprf
hnnrfrMlH
of
thous-
Hnrts
fTpr
nroRcntpri
ut
An
nnnn.-il
ire
author-
cenamiy
canmu
tj
mi
w
.
,r
:
For-'the
increases
to
stop
with
even
anas
oi
nomes.
inai
jm-runK.
n
m-urus
me
irunnuc-
the
tenth
announcement.
Our,
tlons
have
Been
conaucieu
to
me
uons
or
one
oi
tne
greatest,
profits
are
accumulating
as
great
advantage
of
its
policy-'
strongest
and
most
beneficent
never
before,
and
it
is
inevitable
.holders
is
sufficiently
evidenced
wporatinns
in
the
world,
and
it
that
a
larger
and
larger1
propor-lby
thin
report.
And,
as
I
havejts
worthy
of
the
Company."
tion
will
be
disbursed
to
our
.
Mid,
our
poiicynomers
may
con-
To
replace
one
which
Aid.
Mac-donald
explained
had
been
de-
"But
there
are
other
features
our
nolicvholders
have
the
strong-
mollshed
in
a
gale
last
fall,
the
to
which
mv
mind
reverts
with
I
est
interest
in
desiring
the
Bill:
Ity
council
last
night
adopted
a
.
.
.....
.
.
r
a
1
1
1
:
i
pleasure.
One
of
the
most
uo-
tp
pass,
for,
should
It
succeed,
r-ion
mim
me
uiimiei
com-
i
tit.
r
on.
I
it
i
L...
n
.-!
TiittM.
rofnmmprulinir
that.
in
f'onrad
Street
by
Mitchll
&
Cur
ie
ut
a
cost
of
$55.
SH
Ji
4
LEAVES
FOR
R0)IE
Mgr.
Gcorgfn
.,-,athn.f
A.
J
bishop
and
I'lrr
.ri
,
.
Mnntrpnl
uhi.
I.
"
'"'
Ian
n
his
eustomai
v
"Ad
i
iitiiuiui
coinpunicHw
i
ci
ic-
our
mreciura
iiuvc
aniccu
iw
ic-
--
-
o
"etved
wos
when
I
was
once
Ui-
commend
to
the
stockholders
that
view
of
the
urgent
need,
a
new
I
visit
to
the
iim
trodueed
to
an
audience
as
the
'(heir
nroriortion
of
profit
be
re-Hre
hose
reel
house
be
built
at
-r-rr?
president
of
a
corporation
that
iuced
to
four
per
cent.,
thus
in-!
the
corner
of
Eighth
Avtnue
and
had
a
soul.
That
this
was
no
creasing
the
policyholders'
pro-merj
phrase
is
shown
by
the
sym-i
oortion
to
ninety-six
ptr
cent.,
pathetic
comradeship
that
mists
I
between
all
ranks
of
the
Com-
Advi
rtisi'
Daily
Ni.'WH
AM
NEWS'
0PPING
SERVICE
for
Out-of
Town
Subscribers
To
serve
its
women
readers,
and
particularly
those
who
live
at
a
distance
from
a
retail
centre,
The
Daily
News
has
instituted
a
Shopping
Service.
The
Daily
News
is
read
by
hundreds
of
women
living
far
from
Any
urban
facilities
for
shopping
and
it
is
for
these
that
this
shopping
service
is
primarily
intended.
Of
course,
The
Dally
News
Shopper
will
attend
to
the
man
also,
although
he
can
buy
a
pair
of
braces
anywhere.
Hut
not
every
where
can
a
woman
get
a
bit
of
lace
matched
or
a
piece
of
embroidery
thread
or
the
thousand
and
one
things
that
make
up
the
difference
between
a
woman's
wants
and
a
man's.
The
Prince,
Rupert
Merchants
Carry
between
them
Stocks
running
up
to
$2,000,000
and
while
it
is
not
possible
to
purchase
everything
in
this
world
in
Prince
Rupert,
most
things
arc
available
by
return
mail.
None
of
the
Prince
Hupcrt
merchants
can
possibly
advertise
everything
they
carry
in
stock,
but
if
the
thing
wanted
is
tobe
got
in
this
city,
our
outroMown
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it
when
asked
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If
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women
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In
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nearest
store,
all
there
is
to
do
is
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write
to
The
Dally
News
Shopper,
statin?
what
Is
required
with
whatever,
details
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may
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enclosing
the
cost,
and
if
it
Is
in
Prince
Rupert,
The
Daily
News
Shopper
makes
your
purchase.
This
Service
Free
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women
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and
is
the
outcome
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made
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staff
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through
the
district
in
seasons
past.
This
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appreciated
in
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and
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now
extended
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hope
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ciation.
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upan
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THE
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"'
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I
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