Sessional Papers Volume 23, No. 14 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1890 Excerpt: ...The interest given to the shareholders had to suffer a reduction; for two years past the shareholders have been obliged to support the cost of the tax. For the first time this year, that it is to say, for the inventory 1888 closing the 31st December last, the interest allowed on the shares will only be 4,112 per cent.-taxed to their charge. We have reason to hope that a large reduction will not become necessary for the future. In fact, the general commercial industrial crisis, etc., etc., has weighed and weighs very heavily on the proprietors and tenant-proprietors of the Society; they have more difficulty, by reason of the diminution in the hours of labor and a decrease in wages, to pay their own rent, and moreover, many among them are unable to recover the rent due by their tenants embarrassed by the same causes, that is to say, .want of work. On the other hand, misfortune, which seems to have fallen in a way really extraordinary, on a great number of householders, customers of the Society; death for the last ten years has not taken less than twenty of the heads of families, leaving widows and orphans in misery and want.f In the greater number of these cases the Society has been able to assist these families, but they are compelled to come to their aid in the execution of their engagements, and as to the payment of the capital employed in the construction of the building. The general expenses in 1888 only amounted to $560. "This unfortunate position of the family should be prevented by Life Insurance.--J. H. Serious difficulties have arisen from the fact of these unhappy circumstances--' industrial crisis, want of funds, expense of assisting families, etc. The administrators were obliged co exercise their wits to meet the difficulties of this new and ...