Sun Life Assurance Company

of Canada THE zear 1934 has been one of returning confidence and of gradual recovery in business generally.

Because of its strength and dependability, tested and proved during a long period of universal anxiety, life assurance has been one of the first forms of business to experience the effects of the trend towards recovery.

'That experience has been shared by the Sun Life Assurance Company of Canada is indicated in the satisfactory character of the year's operations as reflected in the following summary of the Directors' report:

Text read from the printed page and cleaned; old type leaves the occasional error.