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Full text of "The Annual Cyclopedia of Insurance in the United States"

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THE ANNUAL 



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IN THB 



UNITED STATES. 



1892-3. 



Edited by h. r. Hayden. -.:>•.'• ;■ 



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UNDERWHTTER PRINTINO AND PUBLISHINQ COMPANT, 
NEW YORK AND HARTFORD. 



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Arrow, LENOX and 

TILDtN FOUMDATlONfc 

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COPTRIOBT, 1808, 
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The Underwritkr Pbimtiko and Publishiko Co. 



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PEEFACE. 



In a book the first word is the last one, and when the final proof is 
read we write the few words of introduction which are addressed par- 
ticularly to the reader as a foretaste of what he may expect if he goes 
further. 

This volume is larger than its predecessors by over one hundred 
pages. Subjects have been treated more fully and brief biographical 
sketches of prominent underwriters have been added. With the ex** 
ception of companies whose history has been noticed at length, all 
have been taken from the body of the book and transferred to a direc- 
tory at the end, which we think is the most complete list of American 
companies and their officers ever published, especially in the depart- 
ment of fire insurance, which contains the names and location of 1,847 
companies, stock and mutual. This list is largely swelled by the local 
town and county mutuals, which do a very small business, but which 
seem to be much in favor with the farming community in a number 
of states. 

The statistical tables in the appendix are also more full and com- 
plete than ever before, and cover the business of a number of com- 
panies not before reported, and at all times difficult to get. 

This volume is something more than a reference book for 1892 and 
a record of the year in insurance. It has been found practically im- 
possible to close the record of a year if the business of the year is to 
be included, until long after the year has closed. The editor has there- 
fore concluded to carry forward the topics treated up to the time of 
going to press, and to. date the volume for both years. The present ' 
volume therefore is " The Annual Cyclopedia of Insurance for 1892-8." 
and the information contained in it carries the reader forward, except 
for^proceedings of meetings, to July, 1893. 

The running heads over pages have been made to correspond with 
the last article on each page, which some critics have thought would 
be of assistance in the use of the book. 



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4 Pbbfacb. 

The editor acknowledges his indebtedDess to a number of corre- 
spondents who have made valuable suggestions, many of which have 
been embodied in the work, others of which have been postponed for 
a more careful examination, and some of which have not been found 
feasible. 

The editor will be greatly obliged to those who receive this book 
for review if they will not gloss over its imperfections. If there is 
anything which an underwriter wants to know about the business of 
insurance the editor of this book would like to be told what it is, and 
if it cannot be found within the covers of this volimie would like to 
put it in the next. 



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ANNUAL CYCLOPEDIA OF INSURANCE. 



Aceident Insurance* The ordinary accident insurance policy 
grants a fixed compensation to the insured for a limited time in case of 
aisablinff accident, and also a definite amount to be paid to a designated 
person if death results from accident. Such policies are in general 
strictly limited by their terms to accidents which totally disable or kill 
the insured. Some companies issue modified forms proyiding for in- 
jury and death, with an additional clause as to partial disabilities of a 
permanent nature, such as loss of a limb, an eye, a hand, or foot. In 
order to recover, the injury must arise from "external, violent, and 
accidental means/' and must be incurred while the insured is not un- 
necessarily exposing himself to " obvious danger," and while he is not 
engaged in an occupation more hazardous than that in which he has 
elected to be classified and insured, or if more hazardously occupied at 
the time of the injury, then recovery can be had only to the extent to 
which premium paid would have purchased insurance in the more 
hazardous class. Within these limits there has been found a great 
deal of ground for differences of opinion, and many of the points 
which have been settled have only been disposed of after harrassing 
litigation. [See Legal Decisions Affecting Insurance. Accident In- 
surance.] 

Aeeident Insnranee Claim, Largest. The largest accident in- 
surance claim ever paid, was by the Travelers on January 29, 1892, to 
the widow of A. R. Blood, of Warren, Pa., who was killed the pre- 
ceding month by being thrown from a horse. The sum was $40,000. 

Aeeident Underwriters, International Assoeiation of. [See 
International Association.] 

Aetaarial Society of America was organized April 25, 1889, 
[For an account of the origin, charter, and early proceedines of this 
organization, see the Cyclopedia of Insurance for 1890.] The first 
president was Sheppard Homans. At the second annual meeting, 
April 80, 1891, David Parks Fackler was elected president. 

The Uiird annual meeting of the Society was held at the rooms of 
the New York Board of Fire Underwriters in New York on April 28 
and 29, 1892. Forty-three members were present. President Fackler 
pre^ded. In his aadress he said : 

At recent meetinge oar members discasaed the qneetion how strong or how larse a 
company should be to carry policies of certain amoants with entire safety, and before 
long we may have to discuss whether there is a point beyond which growth In a life in- 
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6 Actuarial Societt of Amkbica. 

eunmce company ceases to be of advantage to its policy-holders, and also whether a 
company^B aseets may become too vast ancTwidely scattered to be properly sapenrlaecL, 
either by its own officers or by State Insarance Departments. 

The new members elecled were David G. Alsop of the Provident 
Life and Trust, Edward O. Sartelle of the Sute Mutual Life, and 
George King, F. I. A., of the Atlas of London. Notice was given of 
the following amendments to the constitution : 

Abticlb IX to read : 

AsiociaUs.~Any one twenty-one years of age, pnrsaing actuarial studies and looking 
forward to future membership, may, on the conditions hereinafter stated, be enrolled as 
an associate, and in sach capacity may be present, without participation, at the meetings 
of the Society, and receive its pnolications. The conditions are, that he shall be nom- 
nated to the Conncil by at least two members of the Society ; that notice of such nomi- 
nation shall be given by the Secrttary to each member of the Society ; that, not leaa 
than twentv days after such notice has been given, his nomination shall be approved by 
the Council, with not more than one negative vote, and tliat he shall subsequently pay 
such fee and pass such preliminary examination as may be prescribed by the €k>ancil. 

Abtiols X to read : 

AdmUHon to Membership.— Auj Associate twenty-five years of age shall be adj 
mitted aa a member on passing such final examination as may be prescribed bv the 
Council as a test of professional attainments. Otherwise, no one shall be admitted as a 
member unless by the unanimous recommendation of the Council, followed by a nnani- 
mons ballot of the Society. 

The secretary reported the result of a ballot had by correspondence 
with members, on a proposed motto for the Society's publications. 
The mottoes and the votes for each were as follows : 

TOTBS. 

'^The work of science is to substitate facts for appearances, and demonstra- 
tions for impressions.*'— Ruskim .86 

" Truth, our aim ; the time to come, oar care,'' 98 

'^Bycalcalation yon will find the truth." . . . 17 

^^Experienbeistheonly prophecy of wise men."— Lamabtinb. ... 17 

'' I have but one lamp by which my feet are guided, and that is the lamp of 
experience. I know of no way of jnoging of tne fntnre but by tiie past."— 
HXNBT 15 

The sentence by Ruskin having received the largest number of 
TOtes was declared to be the motto for the society's publications. New 
papers were read as follows : 

'4 Monetary Mortality Experience on Annuities in American Life 
Insurance Companies," by liufus W. Weeks. "Ratios of Mortality 
for Number ana Amount," by Asa 8 Wing. "Percentage Formula 
for Obtaining Return Premium Rates," by Samuel B. Stilwell. " On 
the Correct or Equitable Distribution of Licidenial Surplus/' by 
Walter C. Wright. 

Officers were elected for the ensuing year as follows: David Parks 
Fackler, president; Howell W. St. John, first yice-president; Emoiy 
McClintock, second vice president; Israel C. Pierson, secretary; B. J. 
Miller, treasurer. The annual dinner was had at the Lawyer's Club, 
New York, on the evening of April 28. 

The semi-annual meeting of the Societv was held at the Hotel Yen- 
dome, Boston, October 13 and U, 1892, President Fackler presiding. 
Thirty-three members were present. New members were elected as 
follows : David Carment, F. I. A., of the Australian Mutual Provi- 
dent, Sydney, Australia; Sydney N. Ogden of the Mutual Benefit ; 



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Actuarial Socisty of America. 7 

Frederick W. Fraakland, F. I. A., assistant actuary of the Atlas of 
London; Herbert C. Thistleton, F. I. A., assistant actuary of the Scot- 
tish Amicable of Glasgow; Thomas Bnidshaw, assistant actuary of the 
North American Life of Toronto; James C. Crawford, assistant actu- 
ary of the Northwestern Mutual of Milwaukee; J. J. Brinkerhofl, 
actuary of the Insurance Department of Illinois at Chicago; Samuel B. 
Boyden, actaary of the Union Mutual Life. 

The proposed amendments to the constitution reported at the April 
meeting were discussed at length, and laid over for final action at the 
next annual meeting. Papers were read as follows: "The Proper 
Basis for Surrender Charges." by Joseph H. Sprague; "Mathematical 
Principles Involved in a Mortality by Lives or Amounts/' by Walter 
B. Nichols; " Application of the Contribution Plan to the Distribution 
of Surplus," by Daniel H. Wells. These papers were discussed, as 
well as the papers read at the previous meeting of the society. 

Among the social attentions shown the society were a banquet at 
the Vendome on the evening of October 13, the John Hancock Mutual 
Life insurance company being the host, and a breakfast given by the 
Boston Life Underwriters Association at the Algonquin Club the fol- 
lowing day. 

The committee on award on the Fackler Prize essay (for which see 
Cyclopedia of Insurance for 1891), reported January 27, 1892, in favor 
of a paper which was discovered to be written by Archibald A. Welch, 
of the Phoenix Mutual of Hartford, for the first prize. There was no 
award made for the second prize. The title of the successful essay 
was "Legislation Regarding impairment." 

The society prints its proceedings and papers in pamphlet, and 
copies can be had by application to the secretary. 

The following is the official and membership roll of the society May 
1, 1898. [Officers elected at the annual meeting April 28, 1893] : 

OFFICERS Ain> COUNCIL. 

Howell W. St John, PnaiderU. Bloomfield J. Miller, id yice-PreHdmt. 

Sraory McCllntock, IH Viet-PretidtrU. Israel C. Pierson, Secretary, 
Oscar B. Ireland, Treasurer. 

OTHER MEMBEB8 OF COUNCIL. 

David Parks Fackler. Sbeppard Homans. 

Term expiree. Term expires. 

Rafns W. Weeks, April, 1894 Clayton C. Hall, April, 1894 

George B. Woodward, April, 18B5 Asa S. Wing, April, 1886 

Thofl. R Xacaalay, April, 1886 Daniel H. Wells, April, 1896 

UEHBBRS. 

David 0. Alsop, Provident Life and Tmet, Philadelphia, Pa. 
•J. J. Barker, Penn Mutual Life, Philadelphia, Pa. 

A. K. Blackadar, A.M., Actnary Canada Insurance Department, Ottawa, Ont. 

Samuel 8. Boyden, Union Mutual Life, Portland, Me. 

Thomas Bradshaw, North American Life, Toronto, Ont. 

J. J. Brinkerhof[, Illinois Insurance Department, Chicago, Dl. 

Bdwin W. Bryant, Consulting Actuary, New York City. 

David Carment, F.I. A.. Australian Mutual Provident, Sydney, Ans. 
«Hnhert Cillis, Germania Life, New York Citv. 

E. A. Cosmao Dnmanoir, Institute of Actuaries, Paris, France. 
•J. M. Craig, Metropolitan Life, New York City. 

James C. Crawford, Northwestei-n Mutual Life, Milwaukee, Wis 



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ACTUABIAL SOCIBTT OF AmBBIOA. 

•Joseph A. DeDoer. A.M., National Utc, Monrpelior, Vt. 

*G6orse Elite, Travelers, Hartford, Conn. 

•David P. Packler, A.M., Oonsultinir Actoary, New York Ci^. 

•Robert P. Field, A.M , PreabTterian Minietera* Fund, Philadelphia, Pa. 

Frederick W. Frankland, F.I.A., New York Life, New York City. 

John A. Fowler, American Exchange and Review, Philadelphia, Pa. 

Morris Fox, A.I A., Actuary New Zealand Life Ina. Department, WelUnKtoii, NJS. 
•WUliam O. Gould, Pacific Mutual, San Francisco, Cal. 
*C. C. Hall, Maryland Life, Baitimore, Md. 

Robert 6. Hann, A.I.A., Equitable Life, New York City. 

AaguBtas F. Harvey, Actuary Missouri Insarance Department St. Looii, Mo. 

Francis H. Hemperley, United Secarity Life and Trust, Philadelphia, Pft. 
•William Hendrey, Onurio Mutual, Waterloo, Ont 

Charles HUdebrand. Fh.B., Connecticut Mutual, Hartford, Conn. 
•J. M. Holcombe, A.M., Phoenix Mutual, Hartford, Conn. 
•Sheppard Homans, Cor. Mem. LA., Provident Savings Life, New York City* ' 
•Oscar B. Ireland, A.M., Massachusetts Mutual, Springfield, Maaa. 

Charles N. Jones. A.B., New York Life, New York City. 

Oeorge King, F.I.A., F.F.A., Atlas Assurance, London. 

George H. Kirkpatrick, Prudential, Newark, N. J. 

Christopher Kyle, New York Life, New York City. 
•Jamea M. Lee, Berkshire Life, Pitt»field, Mans. 

George Leslie, New Zealand Life Ins. Department, Wellington, N. Z. 

Charlton T. Lewis, Ph.D., Mutual Life, New York Citv. 
•C. A. Loveland, Northwestern Mutual, Milwaukee, Wis. 
•J. B. Limger, Prudential, Newark, N. J. * 

•T. B. Macaulay, A.I. A., Sun Life, Montreal, Que. 
•William McCabe, LL.B., F.I.A., North American Life, Toronto, Ont 
♦Emorj' McClintock, Ph.D., LL.D., P.I.A., Mutual Life, New York City. 
•W. C. Maodonald, Confederation Life, Toronto, Ont 

Leon Marie, A.B., Institute of Actuaries, Paris, France. 
•B. P. Marshall, A.B., Union Central Ufe, Cincinnati, Ohio. ~~ 

Jaqnes Martin-Dupray, Institute of Actuaries, Paria, France. 
•W. A. Marshall, Home Ufe, New York City. 

James Weir Mason, A.M., Professor, New York City. 

H. J. Messenger. Jr., Ph.D.. Metropolitan Life, New York Citj. 
•Bloomfleld J. Miller, Mutual Benefit Life, Newark. N. J. 

Walter S. Nichols, A.M., United States Industrial, Newark, N. J. 
•J. H. Nitchie, A.B, National Life of the United SUtes, Chicago, Dl. 

Sydney N. Ogden, Mutual Benefit Life, Newark, N. J. 

John B. Patereon, Actuary New York Insurance Department, Albany, N. T. 

William B. Peterson, Norwich, England. 

Max H. IVller. iEtna Life, Hartford, Conn. 

C. B Perry, Mutual Life, New York City. 
•George W. Phillips, A.M., Eouitable Life, New York City. 

Gardner L. Plumley, Home Life, New York City. 
•Israel C. Pierson, Ph.D., Washington Life, New York City. 

Alexander G. Ramsey, Canada Life, Hamilton, Canada. 

Horace C. Richardson, New York Life, New York City. 

Josephns H. Richardson, F.F. A., A.I. A., Commissioner New Zealand Ufe Insarance 
Department, W^ellington, N. Z. 

J. G. Ritchie, London Life, London, Ont 

Ernst W. Scott Amsterdam, Holland. 
•Howell W. St John, Ph.B., ^tna Ufe, Hartford, Conn. 
•G. W. Sanders, A.B., Michigan Mutual Ufe, Detroit Mich. 

Edward J. Sartelle, State Mutual, Worcester, Mass. 
•Henry W. Smith, A.M., LL.B., United SUtes Review, PhiUddphia, Pft. 

W. S. Smith, A.M., Deputy Insurance Commissioner, Boston, Mass. 

Joseph H. Sprague, A.B., Actuary Connecticut Ins. Department Hartford, Conn. 

E. L. Stabler, ^.D., Manhattan Ufe, New York City. 
•William T. Standen, United States Life, New Y'ork City. 
•William B. Starr, SUte Mutual Life, Worcester, Mass. 

Samuel E. Stilwell, Ph.D., Penn Mutual Life, Philadelphia, Pa. 

John Tatlock, Jr., A.M., Mutual Life, New York City. 

Richard Teeoe, F.I.A., Australian Mutual Provident Sydney, Ans. 

Herbert C. Thistleton, F.I.A., Scottish Amicable, Glasgow, Scotland. 



* Charter members. 

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Mtsa Insurancib CoBiPANir. ft 

3. G. Van Cise, Equitable Life, New York City. 
•R. W. Weekfl, New York Life, New York City. 

George WegenaBt, Ontario Matnal, Waterloo, Ont. 

Archibald A. Welch. A.B., Phoenix Mutual Life, Hartford, Conn. 
*I>aniel H. Wells, Ph.B., Connecticut Mutual Life, Hartford, Conn. 

William D. Whiting, LL.B., Conaulting Actuary, New York City. 
•A#a S. Wing, Provident Life and Trust, Philadelphia, Pa. 
*George B. Woodward, John Hancock Mutual, Boston, Mass. 
^Walter C. Wright, New England Mutual, Boston, Mass. 

Aetaaries, American Faenlty of^ was chartered in Philadelphia, 
Pa., July 12, 1890, the incorporators being officers of assessment com- 
panies. The present officers are L. G. Fouse, president; George D. 
Eldridge, first vice-president; Robert P. Field, second yice-president; 
W. S. Campbell, secretary and treasurer. The board of directors is 
composed of the preceding, together with William M. Barr, J. M. 
Emery, and Isidor Bush. [For charter of the association see the 
Cyclopedia of Insurance for 1890.] 

The object of the Faculty is to disseminate light and knowledge on 
all kinds of insurance through publications, lecturing, and teaching. 
The elements of actuarial science to which the Facmtv has thus far 
given attention relate to the mathematical theory of finance and of 
life contingencias. Underwriting, and especially life, is a profession. 
The Faculty has an elementary course, intended to give students a 
thorough training in practical life underwriting and special reference 
to insurance jurisprudence. The regular course embraces all the ele- 
ments of actuarial science, and those who pursue it to the end will be 
prepared to practice the profession of actuary, and will have conferred 
on them degrees of competency. Study sheets, calculated to give an 
elementary training in the higher mathematics with reference to the 
theory of finance and compound interest in their application to life 
contingencies, have been prepared and used by students for nearly two 
years, which has encouraged tlie Faculty to prepare a comprehensive 
set of text-books, which when completed will be a thorough treatise 
on all the elements of actuarial science. 

Prof. Edward 8. Zieber, M.D., resigned in 1892 as a member of the 
board of directors, and Mr. J. M. Emery, one of the students, who 
has about completed the course of study, was elected to fill the vjicancy. 
Mr. Arthur Blunter, Faculty of the Actuaries of Scotland, was ap- 
pointed one of the instructors. 

Adee, David, president of the American Fire insurance company 
of New York, was born in that city and began his service with the 
company as an office bov in 1862. He was appointed assistant secre- 
tary in 1866, and was elected vice-president in 1887, and president in 
1888. 

JEtntL insurance company of Hartford: President Jotham €k>odnow 
died November 19, 1892. At a special meeting of the directors, 
November 80, Vice-president William B. Clark was elected president. 
At a meeting held December 7, the other officials were advanced one 
grade. Andrew C. Bayne became vice-president, James F. Dudley, 
secretary, and William H. King, first assistant secretary. E. O. 
Weeks, heretofore Philadelphia general agent, was appointed second 
assistant secretary. 

The company was incorporated by the Connecticut Legislature in 
2 .,„_.., ^.^ 



10 jSiTNa Inburahcb Compaht. 

1819. Under the act of incorporation, which was approved by Oliver 
Wolcott as governor of the State, the company was authorized to 
"ensure on dwelling houses and all other buildings, on ships and ves- 
sels of every description while in port or on the stocks, on goods, 
chattels, wares, merchandise, and on all kinds of mixed and personal 
estate of every description." The capital was to be not less than 
$150,000. The maximum limit was $600,000. Of the original capital 
ten per cent, was paid in cash, the balance consisting of notes of the 
stockholders. Under the charter, Thomas E. Brace was authorized to 
call the meeting of the stock subscribers in June, 1819, for organiza- 
tion. The meeting was held on the fifth of the month, resulting in 
the election of Mr. Brace as president, and Isaac Perkins, secretary. 
The company began business August 19 and declared its first 6 per 
cent, dividend December 16, 1819. From organization until May 81, 

1820, the total current expenses of the companv, including $226 ex- 
pended in rent and the salary of Secretary Perkins, amounted to 
$451.82. During this period the total receipts were $8,646.42. At 
the May session in 1820 an act was passed, in addition to the original 
charter, authorizing the company to add $50,000 to its capital, with 
power to increase the sum to $150,000, the amount to be denominated 
the annuity fund. It was to be held exclusively aAd pledged as a 
fund for the pavment of annuities which might be granted by the com- 

§any, and "of losses upon insurance for a life or lives or in any way 
ependent upon life or lives." In no way was this fund to be liable 
for the other debts, contracts, liabilities, or engagements of the com- 
pany. This fund constituted the foundation of the present i£tna Life 
insurance company. 

B^ act of the General Assembly of 1889, passed in consequence of 
a petition filed with the Secretary of State, April 11 of that year, the 
company was "empowered to issue policies against the hazard of 
inland navigation and transportation." March 1, 1881, the charter 
was again amended, authorizmg the company to " insure against any 
loss or damage to all kinds oi propertv by the elements, including 
damage by lightning." At the outset m its career the ^tna com- 
menced the planting of agencies in the important centers of trade. 
The cities of Cincinnati, Chicago, Detroit, Louisville, St. Louis, Mem- 
phis, Natchez, New Orleans, and Mobile were embraced in the JBtna's 
operations at an early period. The company was the first to issue a 
fire policy in Chicago, Gurdon S. Hubbard being its representative 
there as early as 1884. In 1842 Joseph Morgan, one of the original 
directors, visited Uie West and South, with the idea of still further 
ad v^ancing the company's plans. New Orleans and Chicago were in- 
cluded in the circuit, which covered a route of 6,000 miles. Augus- 
tus E. Hazard was the company's first New York agent. The confla- 
gration of 1845, which caused a loss of $6,000,000 in property in the 
heart of the city, involved the ^tna to the extent of $115,(>00. As 
soon as the news of the disaster reached Hartford, President Brace 
assembled the directors and informed them that the loss would proba- 
bly exhaust the company's resources. Removing the stocks and bonds 
from the safe he laid them on the directors' table. In answer to the 
question : " What must be done ? " the president said that he should 
go to New York "and pay the losses, if it takes every dollar there," 



MtSA iNftUSAHCB COMPAmt. 11 

pointing to the packages of bonds and stocks, "and my own fortune 
besides." Eve^ member of the board present agreed to back the 
proposition also with his private resources. The ^Etna's total loss in 
the Chicago conflagration was $8,782,000. 

The interval between the two historic events by which the integrity 
of the ^tna was tested through and through was characterized by 
great financial success for the company. By act of the legislature, 
approved May 16, 1857, the company was authorized to increase its 
capital stock to $1,000,000, the increase to be made from the surplus 
earnings. January 15, 1864, the legislature passed an act authorizing 
additional increase of the capital stock, which was augmented during 
the twelve months by $750,000, the total capital December 81, 1864, 
being $2,250,000. Up to this time the company had declared in stock 
dividends the sum of $2,055,000. Its cash dividend for 1864 amounted 
to $405,000. In 1866 a stock dividend of $760,000 was declared, mak- 
ing the capiUl at that time $8,000,000. While the company's business 
was increasing with unprecedented celerity during the period in ques- 
tion, its loflses were also notable in amount. The St. Louis conflagra- 
tion in 1849 cost the iBtna $125,000. In April, 1852, a loss of $115,000 
was sustained by the company at Chillicothe, Ohio, and three months 
from that time the sum of $105,000 was expended in the liquidation of 
claims at Montreal. The calamity at Portland, Maine, in July, 1866, 
involved an expenditure of $163,000, and the Yicksburg loss in Janu- 
ary, 1867, involved $120,000 of the company's funds. The Chicago 
loss, as already stated, aggregated $8,782,000. For the purpose of 
meeting that emergency triumphantly the capital stock was reduced 
one-baS, and immediately recuperated by cash payments from the 
stockholders of $1,500,000. In 1872 the Boston conflagration ex- 
hausted $1,685,067 of the ^Etna's securities, the exigency being met 
by an additional contribution of $1,000,000 from the stockholdera. 
This made $2,500,000 furnished by them within practically one year's 
time. In 1881 the capital of the company was advanced to $4,000,000 
by the issue of $1,000,000 of new stock to the shareholders. 

The JBtna was formall^^ admitted to New York, May 1, 1849, its 
first statement being submitted to the comptroller April 26 of that 
year. The capital stock at that time was $250,000. The assets were 
reported at $2iS9,550. The ^Etna's operations now include every sec- 
tion of the country. The department managers are: Western Branch, 
Cincinnati, Ohio, F. 0. Bennett, General Agent, N. E. Eeeler, Assis- 
tant General Agent; Northwestern Branch, Omaha, Nebraska, Wm. U. 
Wyman, General Agent, W. P. Harford, Assistant General Agent; 
Pacific Branch, San Francisco, California, George C. Boardman, Gen- 
eral Agent, T. E. Pope, Assistant General Agent. The company has 
had six presidents since its organization in 1819. Thomas K. Brace 
retained the office until 1857, a period of 88 years. Edwin G. Ripley 
succeeded President Brace and remained at the head of the company 
until 1862, when he was succeeded by Thomas A. Alexander. In 1866 
Lucius J. Hendee was elected president and retained the position until 
his death, September 4, 1888. Jotham Goodnow was elected the suc- 
cessor of President Hendee, being advanced from the secretaryship, 
which he had held for twenty-two years. He died November 19, 1892, 
and was succeeded by William B. Clark, who was elected president on 



12 ^TNA Life Insurance Cobcfant. 

the twenty-fifth anniycrsary of hi8 connection with the company. 
President Clarlt's associate officers are A. C. Bayne, vice-presi- 
dent; James F. Dudley, secretary, and William H. King and E. O. 
Weeks, assistant secreUiries. The directors are Roland Mather, Gus- 
tavus F. Davis, Drayton Hillyer, William F. Tuttle, Francis B. 
Cooley, Nathaniel Shipman, Austin C. Dunham, James A. Smith, 
Morgan G. Bulkeley, J. Pierpont Morgan, Thomas O. Enders, 
Atwood Collins, William B. Clark. Francis Goodwin, Nelson HoIUster, 
Andrew C. Bayne, and Charles E. Gross. T. P. Stowell, C. H. Hol- 
lister, F. W. Jenness, Henry E. Rees, W. A. Warburion, J. B. 
Hughes, O. H. King, A. C. Adams, H. L. Hiscock, C. J. Irvin, and 
H. O. Kline are special agents. The total assets of the company, De 
cember 31, 1892, aggregated $10,915,829.63. The net cash premiums 
received during the year reached the sum of $3,715,007, of this 
amount $248,927.97 being in the marine and inland department. The 
total cash income for the year was $4,185,822, total cash expenditures, 
$3,965,186; the fire and marine losses amounted to $2,117,272; net 
amount of fire risks in force, $426,126,819; inland, $2,435,877. Since 
organization, the company has received in premium receipts, $121,860,- 
334; losses paid, $70,233,895; cash dividends. $20,033,365; dividends 
payable in stock, $2,805,000. 

£tna Life insurance company of Hartford: In July, 1892, the 
directors declared a stock dividend of twenty per cent, on the entire 
stock of the company, thus giving each stockholder one additional 
share for every five he held. By the addition of $250,000 the capital of 
the company was increased to $1,600,000. The company is permitted, 
by a special act of the general assemlily of 1883, to increase its capital 
to $2,000,000. 

The Connecticut legislature in 1820 authorized the establishment of 
an annuity fund by tbe ^tna insurance company of Hartford, which 
was to be exclusively held and pledged for " the payment of annuities" 
granted by the company and "of losses upon insurance for a life or 
lives." This was approved May 26, 1820. An act was approved 
May 28, 1853, incorporating the shareholders of the annuity fund as a 
life insurance company, tbe name of the corporation being "The 
^tna Life insurance company.'* The fund as originally authorized 
was $50,000. The business was begun in 1850. Hon. E. A. Bulkeler 
was the first president of the iEtna Life and held the office until his 
death in 1872, when he was succeeded by Thomas O. Enders, who 
was secretary of the company at that time. In 1879 President Enders 
resigned and was succeeded by Morgan G. Bulkeley, son of the original 
president of the company, who has since retained the office. In 1864 
the ^tna Life was admitted to New York. March 3, 1865, the com- 
pany deposited secureties to the amount of $100,000 with the state 
treasurer of Connecticut as ''a prerequisite to the establishment of 
agencies in New York." The paid up capital at that date was $60,600. 
December 31, 1864, the company had 7,216 policies in force, covering 
$15,608,845 of insurance. The gross assets were $792,210. In 1889 
the Connecticut legislature authorized the capital to be increased to an 
amount not exceeding $2,000,000. At that time the capital was 
$750,000. An addition of $250,000 was made and in 1887 a new 



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AoBSTS, Gbneral, anj} Department Managers. 18 

increase of $250,000 was ordered under the act of 1883, and another of 
the same amount in 1802, making the present capital of the com- 
pany $1,500,000. The total net assets, December 81, 1892, amounted 
to ^38,658,176. The premium income during the year was $4,580,767, 
the total income being $6,471,198. The total disbursements were 
$5,294,508, this amount including $8,155,766 on account of death 
losses and matured endowments. The total number of policies in force 
was 81,289, covering $182,778,466 of insurance. From 1850 until 
September, 1861, the iBtna Life issued none but stock or non-partici- 
pating policies. At that time it began issuing mutual or participating 
policies, the two departments being kept entirely distinct. 

During the year 1890 the company decided to avail itself of the 
provisions of section 2865 of the general statutes of the state author- 
izing any life insurance company chartered by the state and engaged 
in actual business to issue accident policies, and January 1, 1891, 
began ^e issue of policies protecting persons against loss of life or 
personal injury resulting from accident, and that branch of its. busi- 
ness is now in operation. A formal amendment to its charter has 
been granted by the legislature, which authorizes accident and em- 
ployer's liability insurance. At the close of 1892 the company had in 
force 4,578 accident policies, covering insurance of $15,589,250. The 
income from accident insurance in 1892 was $81,760, and the dis- 
bursements $67,415. The present officers of the company are Presi- 
dent Bulkeley, Vice-President John C. Webster, elected in 1879, 
Secretary Joel L. English, elected in 1872, succeeding T. O. Enders, 
Assistant Secretary George W. Hubbard, elected in 1890, Actuary H. 
W. St. John, and Medical Director Gurdon W. Russell. The directors 
of the company are Messrs. M. G. Bulkeley, G. W. Russell, Leverett 
Brainard, T. O. Enders, W, H. Bulkeley, A. R. Hillyer, and S. G. 
Dunham. 
■****'Aireld, F. 0., resident United States manager of the Hamburg- 
Bremen insurance company, is a native of Prussia, but was brought to 
this country in chidbood. The years of his early manhood were 
passed in Chicago, where he was three years clerk and student in 
a law office and afterwards a solicitor and surveyor for the Germania 
insurance company of Chicago, which went up in the flumes of the 
great fire. In 1872 Mr. Affeld was appointed Chicago manager for 
the Hamburg-Bremen, and in 1878 he was invited to New York to 
assist Mr. S. von Dorrien in establishing the United States branch 
department of that company. In 1881 he succeeded to the manager- 
ship. 

Agents, General, State, and Special, and Department Managers 
Appointed in 1892. 

FIRE. 

iBtna of Hartford: Nic. Kevlt*r, aiwistant geueral nmiiagcr for ihe western department 

at Cincinnati, under F. C. Bennett ; C J. Irvln of Philadelphia, Hpccial a^ent ; W. 

P. Harford, ae^iataut manager of the wes^tern department, with headquartere at 

Omaha; M. V. Whiltaker, apecial agent for Ohio. 
American Central : Ro«;er8 & Kenney, generai agents at Chicago ; H. M. Grant of 

Portland, Oregon, district agent. 
American Fire of Boaton : Artaur B. Fowler, special agent for New England under 

Qeneral Agent Baker. 



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14 AoEMTB, Oenskal, ahd Dkpartiixnt Mahagkbb. 

American Fire of New York : Joeepb Clinton of Chtcafco, special agent ; Walter J. 
Wilson, Minneapolis, state afrent for Minnesota. 

American Fire of Philadelphia : P. L. Davis of Vicksbnrs, special agent for Missiaslppi 
and Lonisiana ; WiUivn Doogias of Charleston, specul agent for North and South 
Carolina. • 

American of Newark : George W. Cleaver, special agent for New York state ; Isaac 
W. Holman of Chicago, general agent. 

British America of Toronto : George C. Robbins, special agent western department 

Boylston of Boston : C. W. Hicks, special agent for Nebraska. 

Burlington : E. G. Henrv, special agent for Illinois. 

Capital Fire of Concord : a. S. Critcbell & Co. of Chicago, western department 
managers. 

Columbian Fire of Louisville : George R. Lewis A Co. of Minneapolis, general agents 
for Minnesota. Montana, and the Dakotas ; Brown A Skitmer of New York city, 
managers for tne eastern and middle states; C. A. Van Anden of Chicago, mana- 
ger for the northwestern states ; Corsoo & Hunt of Philadelphia, general agents for 
Pennsylvania ; Adams A Boyle of LitUe Rock, general agents for Arkansas. 

Commercial Union : Edward J. Watkins, special agent for Tennessee, Kentucky, and 
Virginia ; L. Monroee of New Orleans, general agent for Lonisiana ; W. A. Fnmi^ss 
of Hartford, special agent for Connecticut and New Jersey ; A. Elwood Hendrick, 
special agent for North Carolina, Virginia, West Virginia, Maryland, and the Dis- 
trict of Columbia. 

Connecticut Fire : W. A. Chapman, special agent for Wisconsin ; P. D. McGregor, 
special agent for Illinois and Indiana ; C. E. Van Voorhis, special agent, western 
department ; R. S. O'dell of Chicago, special agent for Illiuols. 

Continental : James R. Walsh, special agent in Illinois ; F. C. Barkman, assistant 
manager and Amos F. Sewell, special agent of the Pacific coast department; 
W. T. Teale, New England special agent ; A. L. Moye of Reno, state agent for 
Nevada. 

Delaware of Philadelphia : Gustav WoUaeger of Milwaukee, state agent for Wisconsin 
and for Minnesota, except the cities of St Paul and Minneapolis ; Clarence Knowles, 
general agent for the southern department. 

Delaware, Union, and Reliance companies of Philadelphia : James R. Donnelly, special 
agent, with headquarters at Omaha, Neb. 

Equitable Fire and Marine of Providence : W. II. Boutclle, Now England special agent 

Fire Association of Philadelphia : William H. Hellyar, special agent for eastern New 
York and western New England ; Bam Henderson's Son & Co. of New Orleans, 
general agents for Lonisiana except Shreveport and New Iberia. 

Fireraan^s Fund : Steohen D. Ives, general agent, with special supervision in Oregon, 
Washington, and loaho. 

Franklin Fire of Philadelphia : E. H. Potter of San Francisco, manager for the Pacific 
coast. 

German-American : Gale T. Forbnsh, special agent of the company^s middle depart* 
mcnt : Will. Hetnking of Nashville, Tenn., special agent 

Glens Falls : Crosby Dawkins of Jacksonville, general agi>nt for Florida. 

Grand Rapids Fire : W. I. Howard of Chicago, s()ecial agent for Colorado, Nebraska, 
and Iowa ; Hart Row of Springfield, 111., suecial agent for Illinois. 

Granite State of Portsmouth : Walter J. Wilson of Minneapolis, state agent for 
Minnesota. 

Greenwich of New York : Charles M. Miller, Hin-clal ageut wentem department 

Guardian of London : Harry C. liandis of Isaltiinore, general agent for Maryland ; 
Charles M. Vogel, special agent for Kansas and Nebraska ; A. W. Halght, special 
agent for Michigan. 

Hamburg-Bremen: Charles R. Thompson, spochil agent for the Pacific northwest; 
Frank T. Noble, special agent for Maine. 

Hartford Fire : £. H. Jones of Selma, Ala., general agent ; C. E. Daniels of Water- 
town, special agent for South Dakota. 

Home of New York : W. C. Phiups of Chicago, special agent western department ; 
Oliver P. Clark, special agent for New England. 

Insurance Company of North America : Snmpter Cogswell, state agent for Kentucky 
and Tennessee; D. R. Davenport state agent for MiHHouri ; Dutton & Bailey of 
San Francisco, managers for the Pacific department, succeeding Thomas A. 
Mitchell, deceased. 

Insurance Company of the State of Pennsylvania : Howard T. WlllianiH of Baltimore, 

Scneral agent for Maryland ; C-. R. Critchell of Denver, manager of the mountain 
epartment. 
Lancashire : P. A. Montgomery, western general agent ; John B. Slaughter, resident 
secretary at St Louis, Mo.; V. T. O'NeU, special agent |for Missouri, Kansas, and 



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AOSNTB, GBNBBAL, AKD DEPARTMENT MANAGERS. 15 

ArkaoMB ; Bavid D. DaviB, special afi^nt for Iowa ; W. C. Cree, special af^eDt for 
Colorado with headquarters at Denver ; Frank D. Lynn, special aeent for Iowa, 
Nebraska, and Kansas, with headquarters at Omaha ; W. E. Clifford, special asent 
in the western department ; Voornees, Gregory A Co., Kansas City ; E. A. Van 
Trump, Wilmington, Del., general American department ; H. J. Fldrchild, special 
aeent for New jersev, Pennsylvania, etc. ; Georse W. Hayes, Jr., special agent for 
Illinois and Iowa ; John Keegan, special agent for Pennsylvania, New Jersey, Del- 
aware, and Maryland ; Charles P. Campbell of Pittsburgh, Pa., airent of the graeral 
American department for the Pittsburgh district ; Herbert Wilmerding, W. D. 
Brophy, and C. B. Worthington, special agents in the general American department ; 
J. H. Beattie, second assistant manager of the western department at Chicago ; 
Arthur L. Berrr, special agent for New Bnghmd. 

Liverpool and liondon and Globe : Charles H. Peecay of Dallas, special agent for Texas. 

London Assurance Corporation : George T. Brown, state agent for Ohio. 

Manchester Fire : Edward L. Ballard, assistant special agent for New England and 
New Jersey, under the supervision of Special Agent Allen at Boston ; waiter H. 
Cobban of Minneapolis, special agent for Minnesota, North Dakota, and South 
Dakota. 

Mechanics and Traders of New Orleans : State insurance company, Nashville, Tenn., 
transferred from Metzger Sb Polk ; F. A. McCarroll, general agent for Kentucky, 
Tennessee, Alabama, and Georgia ; C. C. Emeir of Waco, state agent for Texas. 

Mercantile Fire and Marine of Boston : Frank T. Noble of Augusta, special agent for 
Maine. 

Merchants of Newark : Henry French of Sioux City, special agent for Iowa. 

Michigan Fire and Marine : Charles W. Leisch, special agent with headquarters at 
Cincinnati ; 8. H. Southwick, Illinois state agent with headouarters at Chicago. 

Milwaukee Mechanics : Karl Schmemann, general agent for Michigan ; W. C. Breden- 
hagen of St. Paul, general agent for Minnesota and the Dakotas ; M. E. Lease of 
Omaha, special agent for Iowa and Nebraska. 

Mutual Fire of New York : Charles D. Cox of Chicago, general agent for Illinois, 
Michinn, Minnesota, and Wisconsin. 

National Fire of Hartford : W. L. Fay, special agent for Connecticut ; Charles A. 
Balnter of Mt. Vemon, O., special agent for Ohio. 

Niagara Fire : Stephen French of Denison, Tex., special agent for Arkansas and 
Texas ; George D. Reynolds, special agent for Ohio and West Virginia ; J. George 
Stanffer, special agent and aidiuster with headquarters at Decatur, Ul.; L. S. Mc- 
Millan, special sgent with heaaquarters at Kanras City, Mo. 

Niagara and Caledonian : Judson C. Nichols, special agent for New York ; F. C. Car- 
roll of Cincinnati, special agent for Ohio. 

New Hampshire Fire : Rc^rs & Kinney, Chicago, 111., general agents. 

New York Bowery Fire : O. J. Wiggins, Cincinnati, O., general agent, southwestern 
department ; Brownell, Fowler &T-o. of San Francisco, general n^ents. 

New York Fire : B. W. S. Van Slyke of San Francisco, general agent for the Pacific 
coast ; Charles D. Cox of Chicago, manager of the western dei)artment. 

New York Underwriters Agency : Charles W. Higley, state agent for Minnesota and 
North Dakota ; W. L. Aing, state agent for Wisconsin and Iowa. 

North American of Boston : E. H. Potter of San Francisco, manager for the Pacific 
coast. 

North British and Mercantile : E. T. Campbell, general agent with headquarters at the 
New York ofllce ; C. W. Fort, resident secretary at Kansas City, Mo.; S. A. Wilson, 
tclal agent for Indiana ; John Hart of Louisville, special agent for Kentucky and 



sped 
Tcni 



Northwestern National : Lewis Higgins special agent for Iowa, Nebraska, and South 

Dakota ; Parks A Shumard of Dallas, state agents for Texas ; Miles £. Dawson, 

special agent for Wisconsin. 
Norwich Umon : F. W. Ferguson of Louisville, special agent for Kentucky and 

Tennessee. 
Oakland Home : F. B. Warren of Green Bay, Wis., special agent for Wisconsin and 

Minnesota. 
Orient : E. K. Cass, special agent for Kentucky and Tennessee. 
Palatine : Joseph B. Linahen, special agent, western department ; Frank D. Lyons of 

Omaha, special agent for Neoraska, lowa, Kaiiitas, and MiKsouri. 
Pacific Fire or New York : Philip S. Brown of Kansas City, special agent for Kansas. 
Patriotic of Ireland : Okell, Donnell & Co. of San Francisco, managers for the Pacific 



Pennsylvania Fire : Vemon Dargan, special agent for Texas and Arkansas. 
Phenix of Brooklyn : Eugene ifarbecK, general agent for the western and southern 
departments with heaaquarters at Chicago, succeeding Thomas Burch, deceased ; 



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16 AOBITTS, OSIVBBAL, AKB DSPARTMBin* MaNAOBBS. 

Traman W. BastiB, amistant fi:eneral agent of the western and eouthcrn depart- 
ments under General Agent Harbeck : £. Rabcock, general agent for Nebraska ; 
Samuel G. Howe, assistant special agent for New England ; W. R. Robbins of Rich- 
mond, Va., special agent, southern department ; W. II. Clemens, special agent for 
Ohio, Indiana, and Kentucky ; S. W. Williaros. southern special agent. 

Phoenix of Hartford : William M. Railey, manager for Louisiana. 

Phoenix of London : M. F. Driecoll, general aeent of the western department with 
headquarters at Chicago ; John H. Raine or Atlanta, general agent ; T. L. Mono- 
ghan, special agent for Texas. 

Providence- Washington : Charles L. Whittemore of Chicago, general agent of the 
central department : Henry W. Carlisle of Chicago, Illinois state agent. 

Prussian National : £. B. Duval & C'o. of Baltimore, stau.> agents for Mnryland. 

Queen : George H. Holman, special agent for southern Ni-w Jersey ; Frank M. Burt, 
special agent in tlie southeastern department ; Joseph T. 8tahl and C-yrus Wood- 
bury, special agents for Indiana ; £. B. Boyd, Louisville, deputy manager and gen- 
eral adjuster ; 1). N. Walker, Richmond, va., state agent for Virginia ; R. A. Han- 
cock, Atlanta, Ga., si)ccial agent for Georgia, Alabama, Florida, and the Carolinas ; 
Jesse Woodruff, Lexington, Ky., special agent for Kentucky ; A. C. Goddin, Louis- 
ville, special agent for Kentucky, Missinsippi, and Tennessee ; Milton Dargan, 
Dallas, Tex., special agent for Texas and Arkansas ; A. A. Wood, New Orleans, 
state agent for Louisiana. 

Rhode Island Underwriters Aasociation : M. S. MoorCf special agent with headquarters 
at Chicago. 

Royal : David J. Matt4.>8on, special agent for Kansas; Frank E. Burke, special agent 
for Western New York ; C. T. Baird of Louisville^ special agent under Barbae & 
Castleman. 

Scottish Alliance of Glasgow : Hall & Henshaw, New York correspondents. 

Security of New Haven : Charles B. Funston of Columbus, O., special agent for Ohio, 
West Virginia, and Kentucky. 

Southern of New Orleans : Mercer Otey of San Francisco, general agent for the Pacific 
coast. 

Springfield Fire and Marine : A. G. Dugan, general agent for Oregon and Washington; 
John B. Coniish, special agent for New England ; Samuel J. Whytc, s]>ecial agent 
with headquarters at the Springfield office with jurisdiction over the territory out- 
side the Pacific coast and the western dej)artment. 

Spring Garden : 11. P. Wood, special agent for New York and the New England states; 
BeuHon M. Greene of Baltimore, state agent for Maryland. 

St. Paul Fire and Marine : W. M. Railey of New Orleans, general agent 

Sun Mutual of New Orleans : J. C. Seymour of Atlanta, Ga., special agent for North 
and South Carolina. 

Svea of Gothenberg : George Mel of San Francisco, manager for the Pacific coast ; 
Adams & Buyoe, Little Iif)ck, Ark., general agents for Texas. 

Syndicate of Minneapolis : Bonner & Dorough of Tyler, Texas, general agents for 
Texas, Louisianii, and Alabama. 

Traders of Cliii^ago : Voes, Conrad & Co. of San Francisco, general agents for the 
Pacific coast. 

Transatlautic : Uerlx-rt L. Low of San Francisco, general agent for the Pacific coast. 

United Fire of Manchester : S. D. Sciidder of San Antonio, general agent for Texas ; 
George W. Fisher of Chicago, manager of the western dt-partnu-nt. 

United StJites Fire of New York : Guy r'rancie, general agent for Alabama, Arkansas, 
Tennessee, West Virginia, North Carolina, and South Carolina ; C. E. Wilklns, 
siK'cial agent for New England ; G. R. Jenkins, sjK'cial agent for Ohio ; Bromwell, 
Fowler & Co. of San Francisco, general agents. 

Union of Philadelphia : D. £. Julian, state agent for Ohio, Kentucky, and Michigan. 

Western of Toronto : H. T. Lamey of Denver, Col. , general agent. 

LIFE. 

.^ina Life : S. G. Rosenstein of Charleston, Mo., special agent for Missouri ; H. S. 
Munson, general agent with headquarters at Buffalo, N. Y. ; J. B. Palmer of Par- 
kersburg, special agent for western W^cst Virginia. 

Berkshire Life : John Thomas of C-leveland, general agent for northern Ohio ; Chan- 
ning T. Gage of Detroit, sijecial agent for Michigan. 

Brooklyn Life : Samuel L. Adams of Durham, N. C, manager for the District of Co- 
lumbia, Southern Virginia, North Carolina, and South Carolina. 

Commercial Alliance : F. E. Marsh, superintendent of agencies for the western 
department. 

Connecticut General Life ; W. W, Woodruff, general agent, at Cleveland, O. ; William 



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AOBNTS, GbNBBAL, AND DEPARTMENT MANAGERS. 17 

G. Carroll, general agent for Philadelphia ; L. J. Eldridj^e of St. Johnebury, general 
agent for northern Vermont. 

ConnocticQt Mutual Life : Archibald H. Oibbe, freneral agent at Washington, D. C, 
BQCoeeding his father, deceased ; George E. Williams of Boston, general agent for 
eastern Massachusetts ; Gerwig & Baughman of Lincoln, general agents for southern 
Nebraska ; Denison B. Tucker of New Haven, general agent. 

Equitable Life of New York : J. M. Qninn of Memphin, manager for western Tennes- 
see ; C. V. L. Craw of Nashville, manager for middle and eastern TenncHsee ; M. 
A. Marks, manager for Cleveland, O.: James L. Hall of Fall River, Masn., general 
agent; F. A. C. Hill, manager for Rhode Island with headquarters at Providcucc ; 
Perdue & Eglcston of Atlanta and N. R. Winship of Macon, generul agents for 
Georgia ; C. E. Perry of Dalltu, manager for eastern Texas ; A. A. Green, Jr., of 
Fort Worth, manager for western Texas ; J. Sand berg, special agent In the depart- 
ment of Archibald C. Haynes ; Kendrick & May of St. Louis, general agents of the 
southwestern department ; George R. Endicott, Michigan, special agent ; M. R. 
Howard of Cincinnati, manager for southern Ohio ; F. H. Puffer of Manchester, N. 
H., special agent ; Frank R. Alderman of Detroit, Mich., special agent; I^njamin 
H. Dorr of Boston, general agent ; James Yereancc, manager for the New York 
metropolitan district ; E. H. & C. N. Robinson of St. Joseph, Mo., general agents 
for Kansas and northern Missouri. 

Germania Life : Jacobs & Nelson of San Francisco, general acrents for California ; 
Edward E. Forte of Nash>ille, state agent for Tennessee and Kentncky ; Charles J. 
H. Childs of Portland, Ore., general agent for Oregon and Washington ; Charles H. 
Florian, general agent for Texas, with headquarters at San Antonio ; Nolker & 
Humphreys, general agents, Cincinnati, O.; Boyle & Armstrong, managere for 
Minneaoto ; C. T. S. Wegler of Kansas City, state agent for Missouri ; H. 8. Gros- 
ser of Milwaukee, manager for Wisconsin. 

Home Life of Brooklyn ; W. J. Madden of New York, state agent for New York ; 
Richard A. Love of Kansas City, state agent for Kansas and Missouri ; Tarbox & 
Loomisof St Paul, Minn., general agents ; K. A. Taft of Chicago, gcmcral agents ; 
Robert M. and Harry H. Kerr, general agents reporting to tlie Chicago oflice ; 
Hiram Wiescnfleld of Baltimore, Md., general agent ; S. F. Angus, general agent 
for Michigan, Indiana, northern Ohio and western Ontario, with headquarters at 
Detroit ; Andrew Johnstone, general agent for Rochester, N. Y.; A. R. Shnttuck, 
manager for western Massachusetts, New Hampshire, and Rhode Island, with heud- 

2uartcre at Boston ; L. N. Smith of Sprinjrtleld, Mo., general agent for southern 
[issourl ; G. W. Goddard, general agent for eastern Massachusetts, with head- 
qnartera at Boston ; J. Flock McNally, special agent for central Ohio ; W. R. 
Haile, general agent at New Orleans ; Thomas Law of Oxford, 0„ sp«>cial agent ; 
William J. Loveys, manager for southern Ohio ; W. L. More of Philadelphia, gen- 
eral agent for eastern Pennsylvania. 

John Hancock Mntnal Life : John B. Pendergast of Chicago, general agent for IllinolH ; 
J. Ringgold, general agent at Cincinnati, O.; Williams & Fleekinger, general agents 
for Indiana, with headquarters at Indianapolis ; Warren Craig, general agent for 
western New York, with head(iunrters at Buffalo. 

Life Indemnity and Investment of Sioux City : E. H. Kellogg, eastern manager, with 
headquarters at Chicago. 

Life Insurance Clearing ('ompanv : J. E. Halsted of Towka, general agi-nt for Kansas. 

Manhattan Life : Henry W. Baldwin and Percv V. Baldwin as BaKlwin & Baldwin, 
managers for New Jersey, Connecticut, and Ix)ng Island : Tllllngliast Brothers of 
Cleveland, general agents for Ohio (except Cincinnati) and western Pennsylvania : 
Ben. F. Calef of Boston, general agent for New England ; Foot & JenkiiiH, sp<'cial 
agents at Austin, Texas; Walker^ Holdcn of Bellows Falls, state agents for Ver- 
mont ; J. L. Booker of Richmond, Ky., superintendent of ngemles for Kentucky. 

Massachusetts Mntnal Life : Dilley & Relchenberg, state agents for Kentucky ; Jaines 
L. Gross of St. Louis, general agent for eastern MisKourl and southern Illinois; 
Edward H. Osborn, general agent at Boston ; C. C. Spaulding, gciu'pil agent for 
Rhode Island, with headquarters at Providence; C. P. Wiekhani, Jr., of Norwalk, 
eeneral agent for northern Ohio ; John J. Marshall of Poughke**pMie, gi-ncral agent. 

Michigan Mntnal : James F. Conlev of Atlanta, general agent for (ieorgia. 

Mutual Benefit Life : G. H. Hopkins and Charles T. Howes, general agents for eastern 
Maine ; John N. Batterick of I>ubn(inc, suijerin'endent of agencies for Iowa ; S. D. 
F. McEwen of Nashville, siH'cial ajjentfor Tennessee. 

Matual Life of New York : Joseph E. B^iker, of Haker Brothers, general agent for 
Misaoorl, Arkansas, and Indian Territory, with headquarters at St. Louis, 3fo. ; 
John E. Lord, general agent for Kanuis, with headiniaru^rs at To|M-ka, Kansas ; 
Daniel A. Dyer, of Dyer Brothers, general agent for Northern Texas, with head- 
qoarten at Dallas, Texaa ; Edwin Chamberlam, general agent for Southern Texas, 



18 AOBNTB, GbNBRAL, AND DeFABTMBKT MaKAGBBS. 

with headquarters at San Antonio, Texas ; K. F. Shedden of Atlanta, geioenX agent 
for Georgia ; Charles E. Newlin, general agent for Indiana, with headqaartera at 
Indianapolis ; T. Howard Lewis, general agent for Delaware and adjacent coontlea 
In Maryland and Virginia ; Amos D. Smith, 3d, Boston executive special agent ; 
George Tilles, general agent for Arkansas, with headquarters at Little Rock ; Frank 
A. Babcock, general agent at Bnifalo, N. T., for western New Tork : Riddle, Hamil- 
ton & Co., of Terre Haute, general agents for Indiana ; Edward F. Berkeley, Jr., 
general agent for Kentucky : Fleming Bros, of Dubuque, state agents for Iowa ; 
T. H. Bowles, general agent for Wisconsin and Northwestern Michigan, with head- 
quarters at Milwaukee ; Howard Swineford, general agent for Eastern Vin^nia ; 
Robert H. Gemand and F. H. Hyatt of Columbia, general agents for South Caro- 
lina ; A. B. Rowley, of Lockport, special agent for Western New Tork. 

National Life of Vermont : llahn & Carson, sute agents for Oregon ; H. M. Goodrich, 
of Baltimore, superintendent of agencies for Maryland ; James B. Lockridge of 
Kansas City, general agent for West Missouri. 

New England Mutual Life : Horace R. McLean, general agent for New Orleans ; H. F. 
McNutt, general agent for northern Ohio, with headquarters at Cleveland ; W. H. 
Keith, general agent for southern Illinois, with headquarters at Peoria, 111. 

New York Life : Crawford & Carey of Fargo, general agents for northern Minnesota 
and southern North Dakota ; E. S. white of Cincinnati, manager for southern 
Ohio : L. H. Baldwin, general agent for Baltimore, Md.; Robert A. Whitney of 
New York, general manager of the seaboard department ; Hodge, Knox & Henry, 
Chicago metropolitan managere : A. R. Shattuck, general agent at Minneapolis ; 
William F. Jones of Fitchburg, Mass., general agent ; Bion Wilson of Portland, 
Me., special agent : W. A. Russell of Jacksonville, general agent for Florida ; 
Thomas J. M. Laira of Williamsport, Pa., general agent 

Northwestern Mutual Life : Charles W. Fisher, general agent for southern California ; 
Dr. H. D. Rodman of Lexington, Ky., state agent for Kentucky, succeeding John 
W. Robinson, deceased ; Miles E. Dawson, special agent for Wisconsin ; Henry C. 
Farrar, special agent for Vermont ; E. G. Mason of Rutland, superintendent of 
agencies ror Vermont ; W. E. Anderson, superintendent of agencies for Wisconsin 
and northern Michigan. 

Pacific Mutual Life : Jackson A Crehan of Denver, Col., general agents. 

Penn Mutual Life : Philip Hartley, Boston, special agent ; G. A. Guenther of Birming- 
ham, general agent for northern Alabama. 

Phoenix Mutual Life : William B. Fitch, general agent for southern Ohio, with head- 
quarters at Cincinnati ; James S. Norns, general agent for Wisconsin, with head- 
quarten at Milwaukee ; A. B. Abemethy, manager for central and western New 
York, with headquartere at Syracuse ; T. T, Hay & Bro., of Raleigh, N. C, general 
agents ; Ritter A Fryer, of I)es Moines, la., general agents ; W. W. Hntson, of 
Columbia, stele agent for South Carolina ; W. H. Reed, of Kansas City, general 
agent for Missouri ; J. E. Halsted, of Topeka, stete agent for Kansas. 

Provident Life and Trust : E. J. Warren, general agent for Michigan. 

Provident Savings Life : F. E. McMullen, stete agent for Nebraska ; Fletcher E. Mareh, 

Smeral agent at Chicago, III.; E. W. J. Hawkins, state agent for Vermont ; W. C. 
rown, of Dea Moines, stete agent for Iowa ; L. C. Bailey, of Topeka, stete agent 
for Kansas ; H. F. Atherton, of Washington, D. C, general agent ; W. P. Nelson, 
stete agent for Arkansas. 

Stendard Life and Accident : Dana W. Bennett A Co. of Boston, stete agents for 
Rhode Island, Massachusette, and Connecticut ; George H. Russell of Milwaukee, 
manager for Wisconsin. 

Stete Mutual of Worcester : Edward L. Gemand, Philadelphia, general agent. 

Travelers of Hartford : Joseph F. Beard of Baltimore, general agent for Maryland : 
W. B. Humphrey of London, Neb., special agent for Kansas and Nebraska ; G. A. 
Browning, general agent for Virginia, West Virginia, and South Carolina, with 
headquarters at Richmond ; J. R. Lindsay, stete agent for North Carolina and up- 
per South Carolina, with headquartere at Yorkville, S. C. ; O. M. Cummings, special 
agent for western Texas. 

Union Central Life : Riggs A Smith, eeneral agcnte at Chicago, 111.; A. O. Pessou of 
New Orleans, stete agent for Louisiana ; Folger A Girardson of Savannah, Ga., 
general agente ; W. E. Evans of New Orleans, special agent. 

Union Mutual Life : D. S. Breakenridge of Detroit, manager for Michigan ; A. Snhler, 
general agent, with headquarters at Cincinnati, O. 

United Stetee Life : S. R. Dent,.di8trict managt^r for central and southern Kentucky ; 
Fred. L. Sawyer, manager for Boston, Mass. ; Thomas P. Daley of Leadville, man- 
ager for Colorado ; Robert E. Snow of St. Louis, manager for eastern Missouri ; 
W. C. Krensch of Youugstown, manager for eastern Ohio. 

Vermont Life : J. B. Mifflin, general agent, Philadelphia, Pa.; Samuel L. Adams of 



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AUBXiLNDBR. 19 

Dortiam, N. C, mftnaf^er for North Carolina and Soath Carolina ; Frank A. Early 
of Chicago, j^neral aficent. 
Washington Life: Charles O. Roemer of Cumberland, general agent for western 
Maryland. 

CASVAIiTT AlTD BURBTT. 

American Accident of Loaisvllle : 6. C. Lambert of Omaha, state agent for Nebraska. 

American Casnalty of Baltimore : Watson & Penny of Minneapolis, general agents for 
Minnesota, North Dakota, and South Dakota ; James W. Nye, manager of uie west- 
em department ; H. M. Stark of Milwaukee, special agent ; Sloan A Tarpey of Salt 
Lake City, general agents for Utah, Idaho, Nevada, and Montana. 

American Employers Liability: W. L. Seddon & Co. of Richmond, Va., general agents 
of the Bonthem department ; David Black, general agent for Connecticut ; B. L. 
Steams of Davenport, manager for Iowa ; Edgar S. Kunyon of Newark, general 
agent for New Jersey ; W. L. Daughtrey of Birmingham, state agent for Alabama ; 
T. G. Slaughter of Lonisville, general agent for Kentucky, Tennessee, Mississippi, 
and Lonisiana : William M. Byrnes of St Louis, general agent for Missouri. 

Fidelity and Casualty ; J. J. Benson, resident manager for Vir^nia and North Carolina, 
with headquarters at Richmond : John A. Hemdon, formerly local agent, Danville, 
transferred to Richmond as resident agent for all departments ; John B. O'Donnell, 
special agent of the accident department at Syracuse, N. T. ; J. H. Leedham, special 
agent of the company at Philadelphia, Pa.; McDonnell & Hood of Minneapolis, 
general agents for Minnesota, Iowa, and the Dakotas ; A. J. Benson of Richmond, 
Va., general agent ; Charles L. Nelson of Lonisville, resident manager for Ken- 
tucky. 

Hartford Steam Boiler : W. A. Dmck, special agent for Kentucky and Tennessee. 

New Jersey Plate Glass : A. D. Kennedy A Co., general agents lor Chicago and Cook 
county, Dl. 

New York Plate Glass : S. B. Higinbotham of San Francisco, general agent for Cal- 
ifornia ; H. S. Warner of Chicago, general agent for nilnoiB ; J. M. Sears & Co., 
genera] agents for Cincinnati; TT Grant Slaughter of Louisville, general agent for 
Kentucky, Tennessee, Mississippi, and Louisiana ; Francis A. Chapman of Denver, 
general agent for Colorado. 

Alabama, Insurance Sapervision in, 1860-1892. Tlie supervision 
of the business of insurance in Alabama was yested in tlie State Auditor 
by an act of the Legislature, approved February 24, 1860. The term 
of office is four years, and the officials have been: 

W. J. Greene, 18fia-1866 J. M. Carmichael 1880-1884 

M. A.Chrisholra 1866-1868 M. C. Burke, 1884-1888 

R. M. Reynolds, 186&-187S Cyras D. Rogue 1888-1892 

R. T. Smiths 1872-1876 John Fnrifoy, 1898- 

Willis Brewer, 1876-1880 

The clerk of thQ auditor's office in charge of insurance is Judge 
John T. Cook. 

klexander, James W., first vice president of the Equitable Life 
^Assurance Society, vras born at Princeton, N. J., July 19, 1839, and 
was the son of the Rev. Dr. Alexander, many years pastor of the 
Fifth Avenue Presbyterian Church of New York, and nephew of the 
late William C. Alexander, the first president of the company. He 
was graduated from Princeton College in the class of 1860, and after 
a few years practice at the bar of New York joined the office force of 
the Equitable Life. He was appointed secretary in 1866, elected 
second vice-president in 1871 and first vice president in 1874. Mr. 
Alexander was president of the Princeton Club of New York several 
vears, and is the present president of the University Club of New 
York, and a trustee of Princeton University. 

Alexander, If. A., western general agent of the Fidelity and 
Casualty company, was born near Corioth, Miss., May 2, 1857, where 
his father was, at the time, president of Carroll ton College. In 1886 
Mr. Alexander went to Chicago to seek his fortune, and formed a coa- 



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20 American Oasualtt Inburahcb and Sbcurttt. 

nection with aD accident insurance company to solicit on a railroad 
line. This position lie resigned to accept the general agency of the 
Fidelity and Casualty. He represents that company in its accident, 
steam holier, elevator, and employers' liability departments. 

Allen, Jeremiah M., president of the Hartford Steam Boiler In- 
spection and insurance company, was born at Enfield, Conn., about 
1834, and received his early education at the Westfield Academy, Mass., 
. where he was fitted for a civil engineer. After graduation be taught 
school, but in April, 1865, he enteiid the insurance business as general 
agent and adjuster for the Merchants insurance company of Hartford, 
a position which he subsequently held for the Security Fire of New 
York, in 1867, he was elected the president of the Hartford Steam 
Boiler. Mr. Allen is identified with the prominent charitable institu- 
tions of Hartford, and has been in the city government. He is a mem- 
ber of several of the leading scientific societies of the United States. 

Alliance assurance company of London, in January, 1892, pur- 
chased the Royal Canadian of Montreal, and reinsured its business, 
mostly Canadian. In the same month the announcement was made 
that the Alliance had purchased the business of the Union insurance 
company of San Francisco, and had begun writing its own policies on 
the Pacific coast. Mr. N. T. James, president of the Union, was ap- 
pointed manager of the United States branch of the Alliance, with 
headquarters at San Francisco. 

Alliance insurance association of New York reinsured its risks 
in January, 1802, in the Pheniz of Brooklyn, but continued business. 
It reinsured its risks a second time, in September, 1892, in the United 
Fire of Manchester, £ng., and retired again from business. From 
January to September it had received about |70,000 in premiums, but 
its capital was somewhat impaired. The Alliance was started in 1887 
as a brokers' company and was expected to get the cream of business 
controlled by its stockholders. The capital was $200,000 with $100.- 
000 surplus paid in. On January 1, 1892, the net surplus was $877. 
Notwithstanding the e£Forts of the brokers to build up their own, their 
expectations were never realized. [See Yereance, James.] 

American Annnit^ company of New York was incorporated in 
Aug^ust, 1802, for life insurance and the granting of annuities. The 
capital stock is $100,000, with the right to increase to $1,000,000. 
The incorporators were Felix Kaufman, Maximilian M. Ruttenan, 
D. McLean Shaw, Joseph Milton Kaufman, Otto Q. Dietz, James R. 
Moseman, I. R. Sergeant, Joseph Stetten, Qeorge H. Kraus, W. L. 
Sergeant, and J. J. Mooney. The company does not appear to have 
been formally organized. 

American Casualty Insurance and Secnrity company of Balti- 
more, Maryland, was incorporated January 10, and began business 
June 14, 1890, with a cash capital of $1,000,000. A surplus of $500,- 
000 was also provided for by the stockholders. The incorporators 
were Messrs. John Gill, William Alexander Fisher, William W. Spence, 
Charles David Fisher, James A. Gary, Robert Sewell, and John Aspin- 
wall Hodge, Jr. The act of incorporation conferred liberal powers, 
the kinds of business authorized being: — 



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Ambrican Oabualtt Inburakcb and Secukitt. 21 

' ' To make insurance upon veflsels, freights, goods, wares, and mer- 
chandise; upon dwelling houses, stores, and all Kinds of erections and 
buildings; upon every and all kinds of property, including among 
other things, credits, profits, and choses in action, against injury, 
damage, loss or destruction, arising from any unknown or contingent 
event whatever. 

*'To make all insurance connected with marine risks, the risks of 
transportation of freight, persons, and passengers, and the risks of 
inland navigation. 

" To make insurance against fire and all insurance connected there- 
with. 

" To make insurance upon cattle and live stock. 

" To make insurance upon steam-boilers and all engines, machinery, 
and connections operated by steam, against explosions and accident, 
and to repair, alter, replace, to make inspections of, and issue certifi- 
cates of inspection upon such boilers, engines, machinery, and con- 
nections. 

" To make insurance upon electrical plants and appliances and all 
the connections thereof, against loss and damage caused remotely or 
directly by, or to, such plants, appliances, and connections, and to re- 
pair, alter, replace, to make inspection of, and issue certificates of 
inspection upon the same. 

"To make insurance upon plate glass against breakage. 

"To make insurance against liability of employers or others for 
injuries to their employes or to others. 

*'To make insurance against loss or damage arising remotely or 
directly from any of the following causes : By the action of the 
elements, air, wind, lightning, storm, water, flood, cold, frost, snow, 
heat, fire, fire damp, gases, steam, electricity, earthquakes, land-slides, 
rust, mildew, poisons, decay, insects, animals, wild or domestic; or 
by accident, negligence, trespass, theft, burglary, embezzlement, fraud, 
forgery, breach of trust, tort, or breach of contract. 

"And, in addition to such insurance business, to guarantee the pay- 
ment, performance, and collections of promissory notes, bills of ex- 
change, contracts, bonds, accounts, claims, rents, annuities, mortgages, 
choses in action, evidences of debt, and certificates of property or 
values, and the titles to property, real or personal, on such terms as 
may be established by the Board of Directors of said company; to re 
ceive on storage, deposit, or otherwise, merchandise, bullion, specie. 

Slate, stocks, bonds, promissory notes, certificates, and evidences of 
ebt, contracts, or other property, and to take management, custody, 
and charge of real or personal estate or property, and to advance 
monev, securities, and credit upon any property, real, personal, or 
mixea, on such terms, and with such powers of sale, and other dis- 
position thereof, as shall be established by the by-laws of such corpora- 
tion ; and the corporation hereby created shall have full power and 
authority to do and perform every act and thing requisite and neces- 
sary to carry out the general business hereinbefore set forth." 

The states in which the company has been authorized to transact 
business, include Alabama, Arizona, Arkansas, California, Colorado, 
Delaware, District of Columbia, Florida, Georgia, Illinois, Indiana, 
Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, 



29 Ambrioah Oasualtt Inbubanob and Sbcubttt. 

Michigan. Minnesota, Mlsdasippi, Missouri, Montana, Nebraska, New 
Hampshire, New Jersey, New Mexico, New York, North Carolina, 
North Dakota, Ohio, Oregon, Pennsylvania, Rhode Island, South 
Carolina, South Dakota, Tennessee, Tezss, Utah, Vermont, Virginia, 
Washington, West Virginia, Wisconsin, Wyoming. 

The company in New York state is empowered to engage in steam 
boiler insurance, and in Massachusetts it is authorized to transact all 
classes of general accident and employers' liability insurance. The 
combination contract, which it issues, embraces: — 1st, Employers' 
Liability Clause. 2d, Contribution Clause. 8d, Public Liability 
Clause. 4th, Boiler Explosion and General Casualty Clause. 

The contribution clause embodies an original plan of insurance 
adopted by the company, and copyrighted by the management. The 
idea is to harmonize and cement the mutual relations existing between 
employer and employe, in that full indemnity is fumishecTfor acci- 
dental death or injury, whether the employer is liable or not liable for 
such accidents, according to the terms and provisions of the form of 
insurance best adapted to the particular circumstances of each insurer. 
The benefits of contribution insurance are as follows : 

(a) Partial Contribution Clause. Paying the assured one-half 
wages and doctor's bills for accidental injury of employes for fifty 
weeks, and half of one vear's wages, doctor's bills, and funeral expenses 
in case of accidental death of employes, which accidental injunr or 
death may occur to employes, actively engaged in the business of the 
assured on his premises or elsewhere, and not exceeding $1,600 for 
each person. 

(b) Partial OantrHmiion Clause. Same as abow, except the limits 
are full wages and doctor's bills in case of accidental injury, and one 
year's wages, doctor's bills, and funeral expenses in case of accidental 
^eath, and not exceeding $3,000 for each person. 

(c) Pull Contribution Clause. Paying the assured one-half wages 
and doctor's bills for accidental injury of employes for fifty weeks, and 
one-half of one year's wages, doctor's bills, and funeral expenses in 
case of accidental death of employes, which accidental injury or death 
may occur to employes, wherever they may be, and not exceeding 
$l,oOO for each person. 

(d) FuU Contribution Clause. Same as (e), excepting the limits 
are full wages and doctor's bills in case of accidental injury, and one 
year's wages, doctor's bills, and funeral expenses in case of accidental 
death, and not exceeding $8,000 for each person. 

There is an inspection department organized and connected with 
the company's steam boiler insurance operations, a corps of engineers 
being retained for the work. The company furnishes, free of charge, 
plans and specifications for boilers, settings and pii)ing for boiler 
houses, chimneys, etc., and has a well-equipped chemical laboratory 
in order to analyze the water used in boilers, to determine the presence, 
if any, of scale-forming ingredients, so frequently a source of trouble 
and injury to boilers. The company's chemists will aim to detect 
these injurious elements and suggest means for their removal. The 
assured will receive a certificate stating ofllcially the condition of 
boilers, tanks, engines, elevators, etc. 

In addition to the insurance provided for in the combination con- 



AuBBioAN Emplotkrs Liabiltit Company. 23 

tract, separate policies are issued for steam boiler insurance, covering 
every conceivable hazard of a boiler explosion or rupture to property 
and life. 

For elevator insurance, covering everj accident to property and 
injury to person or death resulting therefrom. 

For automatic sprinkler insurance, covering every loss or damage 
to all property of assured or others caused by water discharged or 
leaking from the automatic sprinkler system, whenever such discharge 
or leakage is occasioned by any accidental cause, except heat caused 
by fire. 

The company's premium receipts for the year ending December 81, 
1892. amounted to |2,486,699. The total income for that period was 
$2,548,089; total assets, $2,607,677, reinsurance reserve. $1,186,581. 
The losses for the year aggregated $1,108,965; dividends, $100,000, and 
other expenditures, $1,208,965, making total expenditures of $2,422,- 
864 for the year. 

The directors of the company for 1892 are Messra. Edward Austen, 
A. Leo Knott, John M. Littig. Henry A. Parr. John B. McDonald. 
Edwin P. Abell. Henry W. Blocum. Arthur B. Graves, Robert Sewell, 
Henry B. Beecher, and Wm. E. Midgley. 

The present officera of the company are Messrs. William E. Midgley, 
president; Edward Austen, 1st vice-president; Robert Sewell. 2d vice- 
president; John J. Jackson, secretary; George H. Morand, and John 
W. Pulis, assistant secretaries. Beecher. Schenck & Companv of New 
York are the general managera, and John M. Crane general superin- 
tendent. 

American Employers LiabiHty insurance company of Jersey 
01 tv, N. J., was incorporated under a charter granted on May 1, 1890, 
and began business at that date. The charter permits a business of 
insurance of all classes connected with accident risks. Its special 
business, however, is the indemnification of emi)loyers against loss, 
claims, and suits on account of liability to their employes, for in- 
juries received in the course of their employment. The company 
undertakes to pay on account of an accident to a single employe a sum 
not exceeding from $1,500 to $5,000, as fixed by its policy, and in case 
of accident to a number, a sum of from $10,000 to $20,000. 

The cash capital of the company is $200,000, and it has deposited 
with the Secretary of State of New Jersey the sum of $100,000. The 
company is organized and controlled, and its stock is held entirely by 
employers of labor. It issues policies to contractors, builders, and 
othere, protecting them against losses and claims by the public and 
othere not in the service of the insured ; also in favor of manufacturers, 
ownera of tenement and flat houses against general public liabilitv. It 
issues policies for the protection ol owners of horses and vehicles 
against claims by the public on account of accidents. The policies also 
provide for indemnity against elevator accidents to peraons and proper- 
ty, and give six inspections annually. They provide for the payment 
of wages, doctors' bills, funeral expenses, and a sum to the representa- 
tive of workmen who may die as the result of an accident. 

The officera are Jonathan H. Crane, president; John J. Tucker, 
vice-president; James Bowne, treasurer; John Macrae, secretary and 



., Google 



24 Ambbicak Fibb Ihbobancb Gompaky. 

general manager. The company does business throughout the United 
tates. There are five departments, and each has a local board of 
directors. The assets of the company, December 31, 1892, were $682,- 
994.12; reserve and surplus, $295,814.89; amount of business written 
in 1892, $180,195,000. 

American Fire insurance company of New York elected William 
H. Crolius vice-president in April, 1892. He retained the secretaryship. 
The company was organized April 80, and began business May 1, 
1857. The premium receipts since organization aggregate $9,986,866; 
losses paid, $4,538,878; total cash dividends, $1,856,000. The paid-up 
capital is $400,000. The original officers of the company were James 
M. Halsted, president, and Frederick W. Downer, secretary. Presi- 
dent Halsted remained at the head of the American until the date of 
his death, March 21, 1888. He was succeeded by the present incum- 
bent, David Adee. Wm. H. Crolius is the vice-president and secretary. 
The directors are David Adee, LeGrand B. Cannon, Robert W. Rod- 
man, Thomas S. Young, James R. Taylor, Allan Hay, Jas. H. Froth- 
ingham, Henry G. Marquand, John T. Terry, Frederick W. Dovnier, 
J. Hugh Peters, John F. Praeeer, Alexander E. Orr, Franklin Wood- 
ruff, Chas. A. Davison, Osgood Welsh, John Sinclair, Wm. H. Crolius, 
Dumont Clarke, Theodore Gilman, and Chas. R. Henderson. 

American Fire insurance company of Philadelphia was incor- 
porated February 28, and began business March 12, 1810. The author- 
ized capital was $500,000. Of this amount $200,000 was paid in at 
the outset. The remainder was required in 1827. The charter was 
amended January 28, 1812, authorizing perpetual insurance, and the 
first perpetual policy was issued March 10 of that year. The original 
officers of the company were William Jones, president, and Edward 
Fox, secretary. In 1813 President Jones was made a member of the 
Madison cabinet, accepting the appointment of secretary of the navy, 
and was succeeded as president of the company by Guy Bryan. Sec- 
retary Fox, whose management was characterized by great personal 
energy and success, died in 1822, and ex-President Jones resumed con- 
nection with the company as his successor. Joseph Reed was presi- 
dent and Job Bacon secretary In 1827, when the stock subscriptions 
were called. At the beginning the American Fire established agencies 
in all of the large towns and cities in Pennsylvania and received risks 
from outside states by means of correspondence. The American Fire 
was involved in most of the extensive conflagrations that occurred in 
the country during the first forty years of its history, the principal 
losses being at Philadelphia, May 22, 1886, $42,021, and October 4, 
1889, $72,470; Pittsburgh, April 10, 1845, $88,000, and St. Louis, May 
17, 1849, $100,000. In the New York conflagration of July 19, 1845. 
the company lost $30,000. In all of these instances its losses were 
promptly paid, ensuring the American Fire a conspicuous and honor- 
able reputation as an insurance organization. 

By an act approved February 16, 1847, the capital stock was reduced 
to $277,500. April 14, 1863, an act was adopted authorizing an increase 
to $400,000, with power to make the amount $500,000. These figures 
were reached in 1886. The American Fire was admitted to New York 
in 1854, reporting under the laws of the state to the insurance depart- 



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Anti-Goiipaot Laws. 25 

ment for the first time that year. Prior to that, however, it had regu- 
larly transacted business in the state for a considerable period. The 
officers at the time mentioned were Samuel C. Morton, president, and 
Joseph G. Mitchell, secretary. In 1855 Thomas R. Maris became sec- 
retary, and was made president January 11, 18G0, succeeding Qeorge 
Abbott, who was President Morton's successor in 1857. At the time 
President Maris assumed the management the company's assets amount- 
ed to $659,325; when he resigned, April 23, 1882, thev were $1,620,807. 
In April, 1882, Thomas H. Montgomery was elected president of the 
American Fire and has since held the position. Albert C. L. Crawford 
was elected secretary in 1860, and retained the place until the time of 
his death, July 8, 1886. He was succeeded by Richard Maris, the 
present incumbent of the office. Charles P. Perot is the vice-president 
of the company. The directors are Messrs. Thomas H. Montgomery, 
Israel Morris, Pemberton 8. Hutchinson, Alexander Biddle, Charles P. 
Perot, Joseph £. Oillingham, Charles 8. Whelen, Edward F. Beale; 
Jr., John S. Gerhard. The total assets of the American Fire, Decem- 
ber 81, 1892, amounted to $8,188,302, the net surplus being $141,429. 
The income during the year was $2,668,874, the cash premiums aggre- 
gating $2,468,085. The losses amounted to $1,685,029, the total ex- 
penditures being $2,611,452. The total premiums received since the 
oriranization of the company amount to $24,870,766; total losses paid, 
$14,221,904; total cash dividends, $2,620,976. The total amount of 
risks in force December 31, 1892, excluding perpetuals, $277,801,861. 
The total of perpetuals was $22,576,400. 

Ameriean Life Insurance Companies, Foreign Business of. 

[See Foreign Business.] 

Ameriean Life of Philadelphia Receivership. The report of 
Edgar L. King and William E. Mevers, the auditors apoointed to dis- 
tribute the funds in the hands of the Real Estate Title Insurance and 
Trust Company of Philadelphia, receiver of the American Life Insur- 
ance Company of Philadelphia, was filed May 4, 1898. The report 
showed that there were 7,366 claims passed upon. The total amount 
of the fund for distribution, according to the account of the receiver, 
was $807,884.05, the cost of the audit and court cost reduced this fund 
to $295,897.68, which was the amount for distribution. The total val- 
uation of claims allowed the policy-holders and others was $1,298,824.- 
36, and from the fund now bein^ distributed there will be paid a divi- 
dend of 22.89 per cent. There will be another distribution arising from 
the realization of assets since the filing of the first account by the re- 
ceiver, which will make the total about 30 per cent. 

Annual Statements, Limit for Filing. [See Statements, 
Annual.] 

Anti-Compact liaws. Legislation forbidding fire insurance com- 
panies or agents to combine in compacts or boards of underwriters, for 
the purpose of fixing, maintaining, and controlling rates of insurance 
upon property, were introduced in the Iiginlntures of Alabama, Cali- 
fornia, Cunneclicut, Indiana, Missouri, and New York in 1891, in those 
of Iowa and Muryland in 1892, and in those of Alabama, California, 
l^orth Carolina, Washington, and Wisconsin in 1898. In all of these 

.,y. zed by Google 



96 Ann-CoMFAOT Laws. 

l^gtolatures the bill failed to become a law, either through the adrerse 
action of a committee or the direct vote of one of the houses. In the 
Georgia legislature an anti compact bill, which had laid over from 
a previous session, was taken up in the adjourned session in 1891 and 
passed. The text will be found further on in this article. In 
the adjourned session of the Ohio legislature of 1891, a bill modifying 
the anti-compact act of 1886 was passed. The text of the act, aa 
amended, is printed hereafter. An anti trust law passed by the Texas 
legislature in 1889. and resisted by the insurance companies, was 
declared applicable to them bv the supreme court of the state. A 
law almost similar to that of New Hampshire was passed by the 
Maine legislature in 1898. The above summary covers all the anti- 
compact legislation of 1892-8 to date of publication. 

The anti-compact idea appears to have had its birth in the Michigan 
legislature, in its session of 1888. It was said that certain large furni- 
ture manufacturing firms at Grand Rapids were behind the bill to pro- 
hibit local boards, mstigated by a desire to be revenged on their own 
local board for advancing rates on a number of special hazards in 
Grand Rapids. The bill, which was made to appl v only to companies 
of other states and countries, was presented by Mr. Fletcher of that 
city, passed by the house by a large majority, and was defeated in the 
senate near the close of the session. It was re-introduced by the same 
legislator in the session of 1885, but it failed this time in the house. 
In the third onset, in the session of 1887, under the auspices of Mr. 
Cole, it passed both houses by a large majority and received the 
executive approval. In endeavoring to enforce the law the insurance 
commissioner came in collision with the companies, which protested 
that it was unconstitutional, and, pending a decision of the supreme 
court, established an "inspection and rating bureau" under Mr. 
David Beveridge with headquarters at Detroit. This the state at- 
torney-general declared to be an evasion of the law, and the supreme 
court soon after pronounced the law constitutional. 

But, two years before this struggle for an anti-compact law had 
culminated in Michigan, another state had caught up the idea and 
embodied it in law. It was Ohio, which, in 1885, injected an anti- 
compact provision into the section of the Revised Statutes which pro- 
hibited the removid of insurance suits from state to federal courts. 
Ohio thus secured the eminence of being the first state to adopt an 
anti-compact law. The bill was introduced into many legislatures in 
1886, but with success in only one instance. Following Ohio, later in 
the year, New Hampshire passed the famous valued-policy-anti-com- 
pact law, which drove all the agency companies of other states and 
countries from the state. Though the bill appeared in a number of 
legislatures in the three following years, it was passed only in 
Michigan. It was not until 1889 that anti-compact lenslation was 
again successful. In one form and another four states, Kansas, Mis- 
souri, Nebraska, and Texas (in the latter by implication) passed anti- 
compact or anti-trust laws in which fire insurance was covered. The 
Missouri law was declared unconstitutional. The Maine anti compact 
law was passed in 1898. There are, therefore, laws now in force in 
seven states (including Georgia) prohibiting fire insurance companies or 



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AiVTi-CoicPACT Laws. 27 

^i;ent8 to unite for the purpose of controlliug the rates of iDSurance. 
The following is the text of these laws : 

Ohio {adopted in 1886; Section $659 Revised Statutee a$ imended in 
1891): 

If any such company, association, or partnership, doing bnsiness within this state, 
make an application for a change of venue or to remove anv suit or action wh^ein 
such company has been sned by a citizen of this state now pending, or hereafter com- 
menced in any court of this state, to the United States district or circnit court, or to 
any federal court, or shall enter into any compact or combination with other insurance 
companies, or shall require their agents to enter into any compact or combination 
with other insurance agents or companies, for the purpose of governing or controlling 
the rates chaiged for Ire insurance on any property within tne state (provided that 
nothing herein shall prohibit one or more of such companies from employing a com- 
mon agent or agents to supervise and advise of defective structures, suggest miprove- 
ments to lessen the lire hazard, and to advise as to the relative value of risks), the 
sunerintendent of Insurance shall forthwith revoke and recall the license or authority 
to It to do or transact business within this state, and no renewal of authority shall be 
sranted to it for three years after such revocation ; and it shall thereafter be prohibited 
from transacting any business in this state until again duly licensed and authorized. 

New Hahpshirb (Laws of 1885, Chapter 89): 

SicTioN 1. Should anv insurance company not organized under the laws but doing 
an insurance bnsiness within this state, make an application to remove any suit or 
action, to which it Is a party, heretofore or hereafter commenced in any court of this 
state, to the United States district or circuit court, or shall enter into any compact or 
combination with other insurance companies for the purpose of governing or controll- 
ing the rates charged for fire insurance on any property within this state, the insur- 
ance commissioner shall forthwith revoke the license or authoritv of said company to 
transact business, and no renewal of said license or autliority snail be granted for ttie 
period of three years from the date of such revocation. 

Michigan (Public Acts of 1887, Act No. 286): ' 

Section 1. The people of the state of Michigan vnact, Ttiat no fire, fire and ma- 
rine, or marine and inland insurance company or association not organized under the 
laws of this state shall be pennittcd to do business therein under the provisions of an 
act entitled " An act relative to the organization and powers of fire and marine insur- 
ance companies transacting business in this state,'' approved April 8, 1869, until in 
addition to complying with the provisions of said act it has filed with the commissioner 
of insurance an undertaking duly executed and authenticated by the company, in such 
form as the commissioner of insurance shall from time to time prescribe, tnatlt will not, 
directly or indirectly, enter Into any compact, agreement, arrangement, or undertaking 
of any nature or kind whatever with any other comimny, companies, association, or as- 
sociations, the object or effect of which is to prevent open and free competition between 
it and said company, companies, association, or associations, or the agents of their 
respective compaiaies or associations in the business transacted in this state or in any 
part thereof. 

Section 2 prescribes that no company of the kind above described 
shall enter into the compact or agreement forbidden. Section 8 makes 
the prohibition apply to the agents of such companies. Section 4 for- 
bids agents and brokers to solicit for companies violating the law. 
Section 6 declares that a person violating the law shall oe deemed 
guilty of a misdemeanor, and shall be fined not less than $50, nor 
more than $100, in default of which he shall be imprisoned in the 
county Jail not less than three months. Section 6 makes it the duty of 
the insurance commissioner to furnish a blank form to companies to 
complete the undertaking required by Section 1, and in case of failure 
therein by a company for thirty days after the mailing of said blank 
be must revoke its certificate of authority to do business, and cause 
the notification thereof to be published in some paper of general circu- 
lation in the state for four weeks. Section 7 makes it the duty of the 
<U)mmis8ioner to investigate all compUints of violation of the law. 



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38 Ann-CoicPACT Laws. 

Section 8 forbids any penon to act as agent for a companv after its 
certificate of authority has been revoked, under a penalty of not less 
than $50» nor more than $100, in default of the payment of which he 
shall be imprisoned in the county jail not exceeding ninety days. 

Kansas (Adopted in 1889): 

Sbction 1. That all airangementB, contracts, agrecmente, trusts, or comblnatlouB, 
between persons or corporations, made with a view, or which tend to prevent full and 
free competition in the importation, transporution, or sale of articles imported into 
this state, or in the product, manufacture, or sale of articles of domestic growth or 
product, or domestic raw nuiterlal, or for the loan or uae of money, or to fix attomeya' 
or doctors' fees, and all arranfi;cmentB. contracts, a^reementa, trusts, or combinations, 
between persons or corporations, designed or which tend to advance, reduce, or con- 
trol the price or the cost to the producer, or to the consumer, of any such products or 
articles, or to control the cost or rate of insurance, or which tend to advance or control 
the rate of interest for the loan or use of money to the borrower, or any other eervicea, 
are hereby declared to be against public policy, nnUwf ol, and void. 

The remaining sections prescribe the penalty for violation of the 
law, and the legal proceedings in connection therewith. Any person 
entering into the trust or combination forbidden shall be guilty of a 
misdemeanor, and upon conviction shall be subject to a one of not 
less than $100 nor more than $1,000, and to imprisonment not less 
than thirtv days nor more than six months, either or both, in the dis- 
cretion of the court. The punishment of public officers failing to 
prosecute violators of the law is provided for. 

Nbbkaska (Adopted in 1889): 

Section 8. Pooling between persons, partnershipc*. companies, associations, or 
cor]iorations, enlaced in the same or like busmess for any purpose whatever, and the 
formation of combinations or common understanding between two or more persons, 
comuanios, partnerships, associations, or corporations, in the nature of what are com- 
monly callea tru*«tH for any purpose whatever or the continuance of the same after the 
taking effect of UiIm act, are bcn*by prohibiti'd and declared to be unlawful, and each 
day of the continuance or any such pool or trustM shall constitute a si<parate offense. 

A violation of the law is declared to be a misdemeanor, and a per- 
son or company convicted under it shall be fined not exceeding $1,000, 
or imprisoned m the county jail not exceeding six months, or both, in 
the discretion of the court. 

Georgia (Approved October 21, 1891): 

SicTioN 1. From and after the pat^sage of this act it nhall be unlawful for any 
insurance company or companies authorii^ to do business in this state, or the agent or 
agents thereof, to make, maintain, or enter into any contract, a^^reenient^ pool, or other 
arrangement, with any other insurance company or companies licensed to ao business in 
this staU:, or the agent or agents thereof, for the pun)ose thereof, or that may have the 
tendency or effect of preventing or lessoning comiNUitiim in the business of insurance 
transacted In this state, and when it shall Ix; made to appear to the commissioner 
of insurance that any company or companies, agent or agents, have entered into any 
such contract, agreement, pool, or other arrangement, thereupon said commissioner 
shall revoke the license issued t4> such companv or companies, and the same shall not 
be re-issued until the president or chief officer of such company or companies shall file 
an affidavit with said commissioner, stating that all such contracts, agreements, pools, 
or other arrangements have been annulled and made void ; provided ^ that nothing in 
this act shall be so constnied as to prevent any insurance comiumy legally authorized to 
transact business in this state, from separately surveying. int4])ecling, or examining the 
premises to be insured, by and with the consent of the owner, for the purpose of bring- 
ing about improvements In fire protection so as to lessen the cost of insurance by 
reducing rates. 

Sec 2. Any citizen of this state whose rates of insurance have been increased, or 
who has been refused insurance at reationable rates, shall have the right to file a written 
complaint under oath, to the best of his knowledge and belief, with the insurance com- 
missioner, cliarging any company or companies authorised to do business in this state. 



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Anti-Ooiipaot Laws. 1^ 

with a violation of the preceding section of this act, and that thercnpon it shall be the 
daty of said iiu>arance comraii4i4{oner to issue a citation addressed to the company 
or companies acainst whom said complaint is made, requiring it or them to be and ap- 
pear before said insm>ance commissioner at a specified time and place to be fixed 
by said insurance commissioner, not leas than twenty or more than forty days from the 
date of the filing of soch complaint, and show cause why its or their license or licenses 
should not be revoked as provided by the first section hereof. And it Is further 
provided that said citation shall be served not less than ten davs from the date of filing 
said complaint bv the sheriffs or constables of said state m the same manner as 
provided by law for the service of process upon insurance companies. 

Sbc. 8. For the purposes of the provisions of this act, the insurance commissioner 
shall have power to administer oaths, issue subpoenas for witnesses, hear testimony, 
issue commlflsions for taking testimony by interrogatories, and the partv or parties 
complaining, and the company or companies defending, shall have the r^ht to serve 
notice for the production of books and papers ; all to be done under the same rules aa 
now provided by law for civil actions in the supreme oonrts. The conntv in which the 
insurance commissioner shall fix the hearing shall be as to this act, tne loH forum 
of said hearing or trial. The costs and fees ror the sheriff or constable, witnesses and 
the commissioner's taking interrogatories shall be the same as now provided by law 
for similar service in the superior courts of this state, the same to be taxed against, and 
paid by, the partv or parties cast In 'said suit, and against whom said insurance 
commissioner shall find: for which costs said insurance commissioner is hereby author- 
ized to issue execution — the same to be levied and collected as executions from the 
courts of thia state. 

The Texas anti-trust law of 1889, the application of which to insur- 
ance companies was disputed by them, but affirmed by the supreme 
court, is as follows: 

An Act to define tmsts, and to provide for penalties and pnnishmcnt of corporations, 
persons, firms, and associations of persons connected with them, and to promote 
free competition in the state of Texas. 

Sbction 1. Be it enacted by the legislature of the state of Texas: That a trust is a 
combination of capital, skill, or acts by two or more persons, firms, corporations, or 
amociations of persons, or of cither two or more of them for either, any, or all of the 
following purposes: First — To create or carry out restrictionn in trade. Strand — To 
limit or reduce the production, or increase or reduce the price of merchandise or com- 
nooditiefl. Third — To prevent competition in manufacture, making, transportation. 
Bale, or purchase of merchandise, produce, or commodities. Jtburlh — To fix at any 
Btandard or figure whereby its price to the public shall be in any manner controlled or 
establioht'd, any article or commodity of merchandise, prodiu^, or commerce intended 
for sale, use, or comsumption in this state. Fifth— To make or cnUT into, or execute 
or carry out any contract, obligation, or agreement of any kind or description by which 
they shall bind or have bound themselves not to sell, dispose of, or transport any article 
or commodity, or article of trade, use, merchandise, commerce, or consumption l)elow 
a common standard figure, or by which they shall agree in any manner to keep the price 
of such article, commodity, or transportation at a fixed or graduated figure, or by which 
they shall in any manner establish or settle the price of any article or commodity or 
transportation bietween them or themselves and others to preclude a free and unre- 
stricted competition among themselves or others in the sale or transportation of 
any such article or commodity, or by which thcv shall agree to pool, combine, or unite 
any interest they may have in connection with the sale or transportation of any 
snch article or commoulty that its price might in any manner be affected. 

Any violation of the provisions of this act is declared a conspiracy 
against trade. Every foreign corporation guilty of violating its pro- 
visions is prohibited from doing any business in the state, and any per- 
son convicted of violating the law shall be punished by fine not less 
than $50 nor more than $5,000, and by imprisonment in the peniten- 
tiary not less than one nor more than ten years, or bv either such fine 
or imprisonment. Each day during a violation of this provision shall 
constitute a separate offense. Any contract or agreement in violation 
of the provision of this act shall be absolutely void and not enforce- 
able either in law or equity. Persons out of the state may commit and 
be liable to indictment and conviction for committing any of the 



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30 Anti RsBATB Laws. 

offenses enumerated in this act, which do not in their commission 
necessarily require a personal presence in this state. 

Maikb (Adopted in 1893). Additional to Chapter 49 of the Revised 
Statutes. 

Should any inBurance company, not organized nndor the laws of Maine, but doing 
an insurance buaincvs witliin mis state, or its repreeientatives residing out of the state, 
malce an application to remove any suit or action to which it is a party, heretofore 
or hereafter commimced in any court of this state, to the United States district or 
circuit court, or sliall enter into any compact or combination with other iiuurance com- 
panies or agents for the purpose of governing or of controlling the rates charged 
for lire insurance on any property within this state, the insurance commissioner shall 
forthwith revoke the license or authority of said comiiany to transact business, and no 
renewal of said license or authority shall be granted for the period of Uiree years from 
the date of such revocaUon. 

Anti-Bebate Laws. Bills prohibiting the giving of rebate of pre- 
miums to the insure by life insurance companies or their agents, 
appeared in the legislatures of Kentucky and New Jersey in 1892, and 
in the legislatures of Indiana. Minnesota, Missouri, Nebraska, and 
New Jersey in 1898 (to June 1). Only the Kentucky bill, which was 
made a section of the general revenue bill, became a law (during the 
hold over session of 1898). The measure failed in the other states 
named. 

In the 1892 session of the New York legislature, the anti-rebate act 
of 1889 was embodied in the new insurance code which passed, but 
with some verbal changes. Also in the 1892 session of the Maryland 
legislature, the anti-rebate act of 1890 was amended by providing that 
informers shall receive one half of the penalty inflicted on violators of 
the law. [As to a decision of a Baltimore court declaring this law 
unconstitutional, see ''Legal Decisions Affecting the Law,'' fur- 
ther on.] 

In the 1898 session of the Ohio legislature, the anti-rebate law was 
modified in several particulars: the word " willfullv " in the second 
section, which reads ** every corporation which willfullv violates any 
of the provisions of this law, etc.," was stricken out and the third and 
fourth sections prescribing penalties for the violation of the law were 
changed. The law as amended is printed under the caption of Ohio 
on a following page. 

The Louisiana insurance department, in October, 1892, by W. B. 
Spencer, assistant secretary of state, issued a circular calling attention 
to an act passed by the legislature of Louisiana in 1886. forbidding the 
giving of rebates in insurance bv the insuriaig party to the insured, 
under heavy penalties, and notifying all concerned that the act applied 
to life as well as other kinds of insurance. Mr. Spencer said : 

Despite the E^eneral terms of the act, there seems to be an impression in the minds 
of some that it does not and was not intended to anply to life insurance companies, and 
It is stated, in support of this view, that such was tne former construction of the law by 
this department. The conetruction placed upon it by the attorney -general is to the effect 
that it applies to all branches of insurance, and admits of no exceptions. In view of 
this somewhat general misapprehension of the import of the law, under which many 
agents no doubt have acted, and are acting innocently, and on account of the numerous 
complaints made to me of its violation, I deem it my duty to call the attention of the 
general agents of all life insurance companies to the present construction put upon the 
law, and to the fact that from this date the law will be enforced against all parties vio- 
lating same. 

At the annual meeting of the National Association of Life Under- 
writers, held in New York city in September, 1892, a memorial was 



AnTi-RsBATB Laws. 81 

adopted, to be addressed to the companies, asking them to discharge 
agents found guilty of giving rebates to the insured. [See National 
Association of Life Underwriters.] 

For letters on the subject of rebates by officers of prominent insur- 
ance companies, written in 1892, see " Qreene, Jacob L."and'*Mc- 
Curdy, Richard A." 

The Michigan Life Insurance Agents' Association in October, 1892, 
addressed a letter to each life insurance company, asking for its co- 
operation in enforcing the Michigan law afi;ainst rebating, and request- 
ing a response. The association receiyedf replies from eighteen com- 
pany officials as follows : 

President Pattison of the Union Central; President Edf^erly of the Massachusetts 
Mntoal; President Bullock of the State Mutual of Massachusetts; Vice-President Qran- 
nis of the Mutual of New York ; Vice-President Haxtnn of the Washington; President 
Batterson of the Travelers; President Greene of the Connecticut Mutual; President 
Bossell of the Connecticut General; Vice-President Halsey of the Manhattan; Manager 
Lunger of the Prudential; Manager Day of the Equitable: President Moore of the Pacific 
Mutual; Secretary Hull of the Berkshire; President De Witt of the Union Mutual; Super- 
intendent Martin of the Equitable of Iowa; Manager Oliver of the Imperial; President 
Kamsay of the Canada Life; and President Rhodes of the John Hancock Mutual. 

These officials without exception, though with varying degrees of 
enthusiasm, promised their co-operation against rebating. No reply 
was received from the New York lAte, Vice-President Orannins 
responded for the Mutual, and the^ president of the Equitable Life 
tamed his letter over to its Michigan manager. 

mSTOBY OF ANTI-RBSBATB LBGIBLATION. 

The first anti-rebate law applying specifically to the business of life 
insurance, was enacted by Massachusetts in 1887. The previous year, 
it is true, Louisiana passed a law prohibiting the allowance of rebates 
in insurance, but no class of insurance was named in the act, it was 
supposed to refer to fire insurance, and it was not until later that an 
opmion was given by the attorney-general of the state that its provi- 
sions were applicable to the practice of life insurance. 

The Massachusetts law has served as a model for the anti-rebate 
laws of most of the states enacting them, in some cases being copied 
almost literally, and in others being followed closely in substance. 
The following is a synopsis of anti-rebate legislation from its begin- 
ning in 1886. 

Louisiana. The Louisiana law is Act 86 of the Acts of 1886, and 
is as follows : 

Section 1. It shall not be lawful for any insurance company, conductinfc or doing 
bosiness in this state, whether same be domiciled in this state, or doing business through 
an agent, to allow any rebate on any policy effected In their respective companies, but it 
shallbe their duty to make their net premiums, and such net premium shall appear in 
the body, and be embraced in said policy, and no rebate nor allowance shall be made 
cither by endorsement on i»aid policy or otherwise; nor shall it be lawful to give any 
rebate on open policies effected in any insurance company doing business in tQs state, 
either, in money, or in insurance scrip, or otherwise. 

Sko. S. Any insurance company violating the provisions of this act, they shall for- 
feit their charter, and not be allowed to do or carry on any business in this state, either 
by them or their agents, and shall be liable to any person or persons who shall suffer 
thereby, to refund double the amount of such rebate, and all damages, such as attorney's 
fees, or otherwise caused thereby, in case of suit. 

MASfiAGHUSBTTS. The Massachusetts law is Section 68 of the 
codified insurance laws of 1887, and is as follows : 



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d3 Anti-Rbbatb Lawb. 

Bbction 08, of **An Act to amend and codify the ntatntes relating to inBaranc<>/' No 
life insurance company doing biiKinrttM in MfuiHarhuH4>titj phall mako or permit any dis- 
tinction or dirn'rimlnation in favor of individnalH, Ix'twoen int>urant« of the same class 
and equal expectation of life, in the amount or payment of premiums or rat«s charj^ 
for policies of life or endowment insurance or in the dividends or other beneflt« pay- 
able thereon, or in any othor of ilie tt-rms and con(iitloim of the contracts it malces; 
nor shall any such company or any aueiit thereof make any contract of insurance or 
agreement as to such contract otiier than as plainly exprt^Hmnl in the policy isHued 
thereon; nor shall any such company or agent pay or allow or offer to pay or allow as 
inducement to insurance any relmte* of premium payal)le on the jKilicy or any special 
favor or advantage in the dividend:* or other benefits to accrue thereon, or any vainable 
consideration or Inducement whatever, not specified in the jwlicy contract of insarance. 

Vermont. Vermont passed the law in 1888, aftixing as a penalty 
for its violation a fine of not more than $50(). 

Ohio. The Ohio law follows that of Massachusetts with the fol- 
lowing additional sections: [as amended in 1898.] 

Skction % Every corporation or officer or agent thereof who shall violate any of 
the provisions of this act, siiall l)c lined in any sum not exceeding JfifM), to be recovered 
by action in the name of the state, and on collection paid into the county treaj«ury for 
the btniefit of the common school fund. 

8kc. 8. Every officer or agent of any such cori)oration who shall violate any of the 
provisions of this act, shall be dit'tned guilty of a misdemeanor, and, upon conviction 
thereof, shall be fined in any sum not exceeding one hundred dollars, or imprisoned in 
the jail of the county not exceedinjf thirty days, or l)oth, at the discretion of the court, 
and shall pay the costs of prosecution. 

8bc. 4. It sliall be the duty of the superintendent of insurance, npon being satisfied 
that any such corporation, or anv agent thereof, htis violated any of the provisions of 
this act, to revoke the license of the compiftiy, or agent, so offending, and no license shall 
be granted to such company, or agent, for one year after such ri'vcxuition. 

Colorado. The Colorado law also is the same as the Massa- 
chusetts law, with an additional section as follows: 

The penalty for violating this section shall l>e a fine of $250; and the snperlntendent 
of insurance shall revoke the certificate of authority of anv agent conyicted of a viola- 
tion of this act, and shall not grant the agent so convicted a license as agent for the 
term of three years thereafter. 

Michigan. Michigan copies the Massachusetts law, with the fol- 
lowing addition : 

Any company which shall violate an^ of the provisions of this section sliall forfeit to 
the state the sum of $500 for ca<'h violation, to Im' rt^eovoreti by the attorney-general by 
appropriate action in the court of compeifnt jnriwliciion, and any judgmVnt therefor 
may be collected in the same manner as is herein provided for collecting judgments 
rendered in favor of policy-holders, and any officer or agent who shall violate any of the 
provisions of this section shall Ix* deemed guilty of a misdemeanor, and upon conviction 
thereof shall be punished i)y imprisonment in the county jail, not exceeding one year, or 
by a fine of not less than $5() and not cxcce<ling $.500, or by l>oih such fine and imprison- 
ment in the discretion of the court. 

Connecticut. The Connecticut law varies somewhat in phrase- 
ology from that of Mtissachusetts, so it is printed here in full, being 
Chapter CXXXIV, Session Laws of 1889 : 

8KCTION 1. No life insurance company doing busincRS in the state of Connecticnt 
shall make or ))erm{t any dif tinction or discrimination in favor of individuals hetween 
insurants of the same class and ex|KH;tAtion of life in the amount or payment of premi- 
ums or rates charged for policies of life or endowment insurance, or in the dividends 
or other iM'neflts payable thereon, or in any other of the terms and conditions of the 
contracts it makes; nor shall any such company or any agent, snti-agent, broker, or 
any other person, make any contract of insurance or agreement as to such contract, 
other than as plainly expressiHl in the policy issued tlu*reon; nor shall any sach com- 
pany or agent, snb-agcnt, broker, or any other ptjrson, nay or allow, or offer to .pay 
or allow, as inducement to insurance, an^ rebate of premium payable on the policy, or 
any special favor or advantage in the dividends or other benefits to accrue Iheivon, or 
any valuable consideration or inducement whatever not specified in Uie policy contract 
of inBorance. 



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Anti-Rebate Laws. S3 

Sec. 2. Xo pereon shall act In the eolicltation or procareraent of applications for, 
or policies of, insurance for any company or corporation, referred to in this act, without 
ftrst procuring a ceriilicate of authority as aeent from the insurance commissioner. Said 
certincate of authority must be renewed on April 1 of each year. 

Sbc. 3. Any per»on or corporation violating: any provision of this act sliall be fined 
not leHri than $1U0 nor more than $500, and it is hereby made the duty of the insurance 
commissioner, on the conviction of any person acting as such agent, sub-agent, or 
broker, to revoke the oertillcate of authority issued to him at once, and no snch certifi- 
cate shall be thereafter issued to said convicted person by said commissioner for the 
term of three years from the date of such conviction. 

PfiNN&YLYAKiA. The PennsylvaDla law is the same as the Massa- 
chusetts law, and makes the penalt j for violatioD $500 on each and 
every violation when the amount of the insurance is $25,000 and 
under, and for every additional $25,000 or under, an additional penalty 
of $500. 

Nbw York. The New York legislature passed an anti-rehate law 
in 1889. [See Cyclopedia for 1890.] 

The insurance code passed by the New York legislature of 1892 
re-enacted the law in the following words : 

Seotion 89. Ko life Insnrance corporation doing business in this state shall make 
any discrimination in favor of Individuals of tlic same class or of the same expectation 
of life either In the amount of premium charged or in any return of premium, dividends, 
or other advantages. No agent of any such corporation shall make any contract for 
insurance, or agreement as to such contract other than that which is plainly expressed 
In the policy issued. 

No such corporation or agent thereof shall pay or allow, or offer to pay or allow, as 
an inducement to any person to insure, any rebate of premium, or any special favor or 
advantage whatever, In the dividends to accrue thereon, or any inducement whatever 
not specified in the policy. 

If it shall appear to the satisfaction of the superintendent of Insurance, after a hear- 
ing by him upon due notice, that any corporation is issuing policies or making contracts 
that are directly or indirectly in violation of this section, he shall, npon the written 
approval of the attorney-general, require such corporation and its ofiicers and agents to 
refrain, within twenty days, from making any such policy or contract. No such cor- 
poration shall make any agreement with any of its ofiicers, trustees, or salaried em- 
ployes, whereby It agrees that for any services rendered or to be rendered there- 
after bv snch officials, trustee, or employe, he shall receive any salary, compensation, 
or emolument that will extend beyond a period of twelve months from the date of such 
agreement or contract. 

If any such corporation, or officer or agent thereof, shall fail to comply with the 
provisions of this section, the superintendent stiall, within twenty days after such 
failure, publish a notice of the fact in the state paper once a week for four weeks, and 
institute such proceedings in law as may be necessary to restrain such violation of 
thia section. 

Mabtlaitd. The Maryland law follows the Massachusetts law 
literally in the first section, and adds the following section : 

It shall not be lawful for any company organized under the laws of any other state 
or country, or its representative, to procure for any person seeking life Insurance a stale 
licenae for the purpose of allowing to such person a rebate. 

An amendment was added in 1892, providing that an informer of 
the violation of the law shall receive one-half of the penalty inflicted 
on the offender. [See Legal Decisions Affecting the Law, further on.] 

Iowa. The following is the full text of the Iowa law, which was 
passed in 1890: 

Sectioh 1. No life insurance company doing business in Iowa shall make or per- 
mit any distinction or discrimination in favor of individuals between insurants of the 
same class and equal expectation of life, in the amount or payment of premiums or 
rates charged for j>olicies of life or endowment insurance, or in the dividends or other 
benefits payable thereon, or in any other of the terms ana conditions of the contract it 
makes; nor shall any such company or agent thereon make any contract of Insurance 

^ Digitized by Google 



34 Avti-Rbbatb Lawb. 

or agreement regarding nnch contract other than as plainly expresi^ed in the policy, nor 
pay, or allow, or oflfer, ti.** an indurement to InHurance, any rebate of premlnm of special 
advantage In the dividends or other beneflts to aicrui' thereon, or any valuable consid- 
eration whatever not Hpwifiiwl in tho policy. I5\ery corporation, or officer, or aeent 
thereof, who Hhall willfully violau- any of the provisions of thin act, shall l>e fined in a 
Rum not exoetiling $500, ami the llcenw to do bnslne^^H in thin state of the offending cor- 
poration Hhall stand revoked for the space of three years. 

Mains. The law follows the Connecticut form, but has a few 
▼erbal differences. The full text of the first section is : 

Sbc^ion 1. No life inHurancc company doing busincHH in this state shail make or 
permit any di8tinction or diitcrimination in favor of individuals between insurants of 
the same class and expectation of life, in the amount or payment of premiums, or 
rates charged for imlicies of life or endowment innuranoi*, or in the dividends or ottier 
bcnefltH payable thereon, or in any other of the terms and conditions of the contracts 
which it makes. Nor shall any such company or any agent, sub-agent, broker, or 
any other |)erson, make any contract of insurance or agretMuent as to such contract, 
other than as plainly expressed in the policy issued thereon. Nor sliall any such com- 
pany or agent, sub-agent, broker, or any other jierson, pay or allow, or offer to pay or 
allow, as inducement to insurance, any rebate of premium payable on the policy : or 
any siK'cial favor or advantage in the dividends or other benefit to accrue thereon ; or 
any valuable consideration or inducement whatever not specified In the policy contract 
of insurance. 

Any person or corporation violating any provision of this law shall 
be fined not more tban $200, and the insurance commissioner must 
revoke the certificate of authority of such agent, etc., for one year. 

West ViRGrwiA. The West Virginia law is a literal copy of the 
first two sections of the New York amended law of 1889 [see Cyclo- 
pedia for 1890], except where the word "auditor " is substituted for 
those of ** superintendent of the insurance department." The penalty 
for violation is made not less than $100, nor more than $500. 

Dblawarb. The Delaware law is a copy of the Massachusetts 
law, while the penalty prescribed for its violation is the same as that 
of Pennsylvania. 

Nbw Habcpshirb. The law of this state follows the text of the 
amended law of New York of 1889 [see Cyclopedia of Insurance for 
1890] to the end of the first clause of the section, and the remainder of 
the section, which required the insurance department to notify an 
offending company to refrain within twenty days, is omitted. The 
penalty for the violation of the law is $500 and a revocation of license 
for three years. 

Wisconsin. The first section of the law of 1891 is a copy of the 
first section of the Massachusetts law, and the second and third 
sections provide for the revocation of the license of any agent, sub- 
agent, or broker, violating the provisions of this act, by the insurance 
commissioner, whenever it appears to his satisfaction that the said per- 
son has done so ; said license not to be renewed for a term of three 
years therefrom ; the law to go into effect at once, and to apply to all 
policies of life companies written or Issued by them in this state. 

Illinois. The law is Sections 203 to 206 of chapter 78 of the 
Revised Statutes, and was approved June 19, 1891. The first section 
is as follows : 

Section 1. No life insnrancc company or association organized under the laws of 
this state, or doing business within the limits of the same, shall make or p<!rmit any dis- 
tinction or discrimination between insurants of the same class and equal expectation of 
life, in its established rates, nor in the charging, collecting, demanding, or receiving ot 



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Akti-Hebatb Laws. 85 

the amoant of premiam for insarants of the Bame claju and eqaal expectation of life ; 
nor in the return ratably of premiumd, dividends, or other beneflts, accruii^ or that 
may accrae, to such insurants as aforesaid ; nor in the termfl or conditions or the con- 
tract between each company and the insurants; and snch contract of insarance ehall be 
fully and wholly expressed and contained in the policy issued and the application there- 
for, nor shall any such company or its agents pay, or allow, or offer to pay, or allow to 



any person insured, any special rebate of premium, or any special favor or advantage, 
in the diyidends or other beneftte to accrue on such policv, or promise the same to any 
person as inducement to insure, or promise to give any advantage or valuable consider 



ation whatever, not expressed or specified in the policy of such company. 

The three additional sections declare the discriminations enu- 
merated in Section 1, to be violations of law, and any company or 
association so yiolating shall, with the agent or agents concerned, be 
jointly and sererally subject to a penalty of not less than $500, nor 
more than $1,000 for each offense, and the Auditor of Public Accounts 
shall cancel the certificate of authority of such agent. It is declared 
that the act does not apply to fraternal associations. 

KsNTUCKT. The Kentucky law, which is a section of the revenue 
law of 1893» is an exact copy of the Massachusetts law, and prescribes 
a penalty of not exceeding $500, to be paid by every company, officer, 
or agent thereof violating the provisions of the law. 

States in Which Legislatiok Has Failed. The above are all 
the states in which anti-rebate laws have been passed. In the legisla- 
tures of eighteen other states anti-rebate bills have been introduced 
and have failed. These are as follows, the years in which the bills 
were introduced being also given. 

1888 — Georgia. 

1889 — Illinois, New Hampshire (introduced again in 1891 and 
passed). New Jersey, Rhode Island, Tennessee, Wisconsin (introduced 
again in 1891 and passed). 

1890 — Kentucky (introduced again in 1892 and passed). 

1891 — California, Florida, Indiana, Kansas, Missouri, Minnesota, 
Nebraska, North Carolina, Texas. 

1892 — New Jersey (second time). 

1893— Indiana (second time), Minnesota (second time), Missouri 
(second time), Nebraska (second time), New Jersey (third time). 

Anti-rebate legislation failed in these states from one of three 
causes: adverse reports from committees, defeat on coming to a vote, 
or neglect after being favorably reported. In almost ever^ case the 
bill might have been passed had its friends made active efforts in its 
behalf. 

Legal Dbcibions Affectino the Law. The Pennsylvania 
supreme court in October, 1891, in the case of B. J. Morningside, an 
agent, who had violated the law, and plead its unconstitutionality, 
amrmed the constitutionality of the law. 

The New York supreme court, general term, fifth department, in 
January, 1892, in the case of William H. Formosa, an agent, who had 
violated the law, affirmed its constitutionality. [See The Weekly 
Underwriter, Volume 46, pace 79.] 

In Maryland, in September, 1892, Joseph Bowes, a ceneral agent, 
was indicted for a violation of the anti-rebate law. When the case 
came to trial in a Baltimore local court, the state's attorney moved to 
quash the indictment on the ground that the law was unconstitutional, 



ogle 



3d Association of Fire Undeawritbrb. 

in that it discriminated against tlie citizens of other states in violation 
of the constitution of the United Slates, and the court (Judge Wright) 
granted the motion. The matter is likely to be reviewed by the court 
of appeals. 

Arizona, Insurance Sapervision in. 1887-1891. The territorial 
treasurer in Arizona is charged with the supervision of insurance by 
act passed in 1887. The officers in charge have been C. B. Foster, 
1887-1890; J. Y. T. Smith, 1890-1891; William Christy, 1891-1893. 

Arkansas, Insurance Supervision in, 1873-1893. By the insur- 
ance law of 1873 the auditor of state, who is elected by the people for 
two years, is charged with the duty of insurance supervision. The 
officials have been as follows: 

Stephen Wheeler, 187S-1874 W. R. Miller 1887-1887 

W. R. Miller 1874-1877 W. 8. Dmilop, 1887-1898 

John Crawford, 1877-1883 1 Charles B. Mill 1898- 

A. W. Files 1883-18871 

Clem McCuUoch is the present deputy auditor, in charge of the 
insurance department. 

Lshbrook, Joseph, manager of the Provident Life and Trust com- 
pany of Philadelphia, was Iwrn in that city August 4, 1840. He waa 
educated in its public schools, and at the age of fifteen became an em- 
ploye in the office of a firm of stock brokers. During the civil war 
he enlisted in the 118th Pennsylvania regiment and served throughout 
the conflict. He was severely wounded and breveted major for gallant 
services in the Wilderness campaign. Soon after the close of the war, 
Maj. Ashbrook became superintendent of agencies for the Provident 
Life and Trust, and in 1881 was appointed manager of its insurance 
department. 

Aspinwall, Sterne F., secretary of the Grand Rapids insurance 
company of Michigan. [See Death Roll.] 

Assessment Life and Accident Insurance Associations. No- 
tices of the principal organizations of this class will be found in their 
alphabetical places in this volume. The returns of business of these 
and the smaller organizations will be found in the tables at the end of 
the volume. 

Assessment Life and Accident Insurance Business in 1892. 
[For statistics of the business, see Fraternal Beneficiary Societies and 
Mutual Life and Accident Underwriters, and Appendix.] 

Assessment Life and Accident Insurance in tlie Courts [see 
Legal Decisions Affecting Insurance]. 

Assessment Life and Accident Insurance Companies, National 
Association of [see "Mutual Life and Accident Underwriters"]. 

Association of Fire Underwriters for Arkansas. This is a 
rating and supervising organization covering the state of Arkansas. 
Its first meeting was held Januarv 28, 1883, at Little Rock. There 
have been two presidents, John F. Boyle, who served from 1888 to 
1891, and L. B. Leigh, from 1891 to the present time. The officers 
chosen at the last annual meeting were L. B. Leigh, president, M. H. 
Johnson, secretary, and the executive committee is composed of L. B. 



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Abbociation of Firb Undbbwbitbrb. 



87 



Leigh, Milton Dargan, George J. Dexter, John F. Boyle, and T. C. 
Powell. 

The local boards covered by the association are six in number: Lit- 
tle Rock, Fort Smith, Pine Bluff, Hot Springs, Helena, and Batesville. 
There are no compacts nor stamping offices. Rates made by local 
boajrds must be submitted to and approved by the secretary of the 
association before being promulgated. The companies represented in 
the association are as follows: 



^tna. 

American Central. 
American Fire of New York. 
American Fire of Philadel- 



phia. 
Ltlai 



Atlanta Home. 

British America. 

Connecticat Fire. 

Continental. 

Commercial Union. 

Caledonian. 

Crescent of New Orleans. 

Columbian of Loaisville. 

Fire .\Mociation of Phila- 
delphia. 

Olent} Fails. 

German-American of New 
York. 



German of Freeport. 
Germania of New Orleans. 
Greenwich. 
Hartford Fire. 
Home of New York. 
Insurance Company of 

North America. 
Liverpool and London and 

GloW 
Lancaehiie. 
Manchester Fire. 
Mechanics and Traders of 

New Orleans. 
Merchants of Newark. 
New York Underwriters. 
National Fire of Hartford. 
Niagara Fire. 



New Orleans Insurance As- 
sociation. 
Orient. 
Palatine. 

PenuMvIvania Fire. 
PhcenUL of Hartford. 
Phenix of Brooklyn, N. Y. 
Queen of New York. 
Koyal. 

St. Paul Fire and Marine. 
Sprineflcid Fire and Marine. 
State Investment. 
Southern. 
Sun Mutual. 

Teutonia of New Orleans. 
United States Fire. 
Western of Toronto. 



AHSociation of Life Insurance Medical Directors of America 

was organized December 6, 1889, in New York, bj the medical officers 
of leading life insurance companies. The first officers chosen were 
Dr. J. M. Keatinff of the Penn Mutual, president; Dr. G. W. Russell 
of the iGtna Life and Dr. Lewis McKnight of the Northwestern 
Mutual Life, vice-presidents; Dr. Frank Wells of the John Hancock, 
secretary; Dr. J. W. Brannan of the Washington Life, treasurer. 
The object of the association, as announced, was: 

The promotion of medical science as applied to life insurance hy the personal inter- 
ooar»e of the members, presentation of papers, discussions, and such other methods as 
Diay be found desirable, and also the encoura^fement of social and personal relations 
between its members and the advancement of the general interests of life insurance. 

At the annual meeting May 29, 1891, Dr. Frank Wells was elected 

£ resident; Drs. Russell and McEnight, vice-presidents; Dr. £. J. 
[arsh of the Mutual Life, secretary, and Dr. Brannan, treasurer. 
Association of Fire Underwiters of Baltimore. At the annual 
meeting of this local board in January, 1892, William K. Barry was 
elected president ; R. Emory Warfield, vice president ; 2tnd William 
Cunningham, secretary and treasurer. These officers were re-elected at 
the annual meeting in January, 1893, with the following schedule 
rating committee: M. K. Burch, Jno. Katzenbcrger, A. R. Cathcart, 
M. Warner Hewes, T. E Bond, Wm. Shackelford, and D. W. Hopper. 
Among the business transacted was the adoption of the following 
resolution : 

WHERXA8, It is reported that an effort will be uiade to introduce the Universal Schedule 
in this cltv ; 
Reaolrfd, TTuit tiiis Assucintion, coneiHtinR of the officers of thirteen local compa- 
nies and the af^ents of iion-n-rtiiU'nt coiupaiiicH, while recognizing the rigiit of cdUipuiilcH 
to influence itM action by inHtructifi)iiH kivcii to their agiiitK. tKih'mnly proteM** agaiimt 
any action lalien without couHultation with or couHcnt of thii» At*t<ociatlon, and intendtcl 
to make this city the »itu of experiiuentjj in imderwrituig. 



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38 



Association of Lifb Insukance Solicitors. 



Association of Fire Underwriters of Missouri. This association 
was organized at St. Louis, Mo., October 30, 1879, by a few Missouri 
field men. James L. McCluer was chosen president ; Martin Collins, 
Tice-president ; and A. C. Travis, secretair. The States of Kansas 
and Nebraska were soon after admitted to the association, and it took 
the name of the Association of Fire Underwriters of Missouri, Kansas, 
and Nebraska, and so continued until September 30, 1892; when the 
Kansas and Nebraska membership being virtually extinct on account 
of the anti-compact laws of those States, the original name of the asso- 
ciation was resumed. The association is a rating and supervising 
organization within the limits of the State of Missouri, but has a social 
feature attached to enliven the routine of business. The following 
companies are represented in the association : 
i£:tna, Hartford. 



:tna. 

American Central, St. Louis. 

American, Newark. 

American Fire, Fliiladel- 
phia. 

Atlas, liondon. 

Burlington, la. 

BritiHh America, Toronto. 

Caltxlonian, £dinburgli. 

Citizens, New Yorlc. 

Oolunitnnn, I^uinville. 

Concordia, Milwaukee. 

Connecticut Fire, Hartford. 

Continental, New York. 

Delaware, Philadelphia. 

Fire Ass'n, Philadelphia. 

Fireman's Fond, San Fran- 
cisco. 



Hanover Fire, New York. 
Hartford Fire, Hartford. 
Home, New York. 
Insurance Company of 

North America. 
Imperial, l>ondon. 
Lancashire, ManchcstiT. 
LivenxH)l and London and 

Globe. 



Orient, Hartford. 
Pacific Fire, New York. 
PcopU« Fire, Manchester, 

N.H. 
Pheiiix, New York. 
Phoenix, Hartford. 
Phoenix, London. 
Providence- Washington, 

Providence. 



London Assurance Corpora- Kockford, I^Kkford, 111. 



Koyal, Liverpool, 
yccurity. New Haven. 
Southeni, New Orleans. 
8prinxfteld Fire and Ma- 
. Springfield. 



Springflelf 

rinc, Sprii 
State, Dea Moines. 
St. Paul Fire and Marine, 

St. Paul. 
Traders, Chicago. 
Union, Philadelphia. 



tlon. 

London and Lancashire. 

Mancliestcr Fire. 

Merchants, Newark. 

Milwank(H; M(^>chanics. 

National Fire, Hartford. 

Newark Fire, Newark. 

Niagara Fire, New Y^ork. 
Franklin Fire, Philadelphht. North British and Mcrcan- 
German, Freeport. tile. 

German-American, N. Y. Northern, London. 
Glens Falls,Glen8 Fall8,N.Y. Norwich Union. 
Hamburg-Bremen, Ham- Oakland Home, San Fran- 
barg. Cisco. 

The association has jurisdiction over the local boards of the State 
(except St. Louis, which is an excepted city). There are compact 
managers at St. Joseph, Sedalia, and Springfield. The latter has juris- 
diction over 42 places. Mr. W. J. Fetter is employed by the execu- 
tive committee to rate all towns except those under the compact man - 
agers. It is expected that all places will have been rated and local 
boards established by the close of 1893. 

At the annual meeting at Excelsior Springs, Mo., September ^, 
1892, officers were elected as follows : A. E. Pinkney, Kansas City, 
special agent of the Phenix of Brooklyn, president ; F. W. Little of 
Pleasant Hill, special agent of the Glens Falls, vice-president ; P. H. 
Knighton of Hannibal, special agent of the German- American, secretary 
and treasurer. The executive committee is as follows : C. Stawitz of 
St. Louis, chairman ; A. F. Ballard, J. D. Fleming, D. W. Graves, 
W. E. Mariner, and S. L. Long, all of Kansas Oily. Among the 
speakers at the September meeting were Jud«:e Alexander Martin on 
Insurance Law, and Professor Blake of the University of Kansas, on 
Electricity. 

Association of Life Insurance Solicitors of Baltimore was or- 
ganized in March, 1892, by representatives of six life insurance corn- 
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Automatic Sprikklbrs. 89 

paoies. A permanent organization was effected at a subsequent 
meeting, as follows : Emanuel Schwenberg of the Equitable Life, 
president; Stanley Baker of the ^Etna Life and C. D. Spalding of the 
National of Vermont, vice-presidents ; W. H. H. Young of the Equi- 
table Life, secretary ; and Gustavus Gemand of the Mutual Life, 
treasurer. 

Agsoclation of Saperintendents and Captains of Fire Patrols, 
Salrage Corps, and rroteetire Associations of the United States. 
At the annual convention of the National Association of Fire Engineers 
held at Louisville, Ky., in October, 1892, the chiefs of lire patrols and 
salvage corps who were present as delegates in the convention, had a 
separate meeting and organized an association, taking the above title. 
The following persons were present : A. C. Hull, superintendent of 
the Fire Patrol, New York city ; H. R. Williamson, Protective Depart- 
ment, Worcester. Mass.; E. 1\ Shepherd. Fire Insurance Patrol, Chi- 
cago, 111.; C. H. Swan, Protective Department, Providence, R. I.; 
F. J. Meeker, Salvage Corps, Newark, N. J. ; J. F. Pelletier, Fire 
Patrol, Kansas City, Mo. ; H. F. Newman. Salvage Corps, Cincinnati, 
Ohio ; B. H. Pickard and T. C. Timberlake, Salvage Corps, Louis- 
ville, Ky. The purposes of the association as set forth were as fol- 
lows : the promotion of friendly relations between fire departments 
and fire patrols of the same city ; the collection of statistics regarding 
incendiarism and means of protection of property at fires and mutual 
social convections. All chiefs of patrols and salvage corps are eligi* 
ble to membership. The officers elected for the first year were : Cap- 
tain A. C. Hull of New York, president ; J. P. Pelletier of Kansas 
City, Mo., secretary. [See Fire Patrols.] 

Associations and State Boards of Fire Underwriters. [See Fire 
Underwriters' Associations.] 

Associations of Life Underwriters. [See Life Underwriters' 
Associations of .] 

Atlas assurance company of London, in May, 1802. removed its 
United States head office from San Francisco to Chicago. J. M. 
Newbcrger was appointed manager. 

Atlas Life insurance company of Indianapolis. Ind.. was organ- 
ized in March, 1893, under the old charter of the Merchants' Insur- 
ance and Banking Company, for a life insurance business, with $100- 
000 capital. The officers elected were : N. S. Byram, president ; L. 
T. Michener, vice-president ; M. V. Gilliard, secretary ; Charles E. 
Dark, treasurer ; Stanton J. Peelee, counsel ; W. S. Wynn, actuary 
and manager. It does not appear that the company transacted any 
business in 1802. 

Automatic Sprinklers. C. J. H. Woodbury contributed to the 
February number of Camer*a Magazine an important paper on auto- 
matic sprinklers. 

The experience of the Boston Manufacturers Mutual Fire with 
automatic sprinklers, from 1877 to 1892 inclusive, was reported as fol- 
lows by President Atkinson: 



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Google 



40 Baltimobe Lifb Umdbrwritkbb Abbociation. 



Fireu. | Claims, 



ADtomaUc Sprinkler 406 

Other ApparatDfl, 1,196 



906 
501 



Lowefl. 



SsM7,673 
8,790,-137 



Averaj^e Average 
Fire. ' CJalm. 



$610 I $1,909 
7,991 17,406 



The first class embraces fires in wbich a properly installed equip- 
ment of automatic sprinklers was called into service over the fire 
where it was started, the second bein^r the remainder of the fires, in- 
cluding many where automatic Bprinklers did good service in retarding 
the further extension of fires which had burned to rooms equipped 
with such apparatus. 

A combination of several large sprinkler manufacturers was effected 
in November, 1892, and the General Fire Extinguisher Company of 
New York was organized with $2,000,000 capital, to "manufacture, 
purchase, and sell automatic sprinklers." Frederick Grinuell waB 
chosen president and F. W. Hartwell secretary. The sprinklers con- 
trolled by the combination are the Grinnell, Neracher, Hill, Kane, 
and Clapp. 



4abb, George W., Jr., resident United States manager for the 
Northern of Aberdeen and London, was born at Boston, Mass., in 1847. 
He was engaged in the dry goods jobbing business from 1865 to 1870. 
From the latter year to 1876 he was clerk in a Boston fire insurance 
local agency; from 1876 to 1880, a local agent in the same city. He 
was afterwards general agent for the Commerce, special agent of the 
Northern, manager of the New England department of the Northern, 
and in 1889, on the resignation of Mr. H. II. Hall, went to New York 
as the manager for the United States. Mr. Babb was one of the princi- 
pal organizers and chairman of the New England Bureau of United 
inspection. 

Baker, Alfred G*, ex-president of the National Board of Fire Ua- 
derwriters. [See Death Roll.] 

Baldwin, Henry W., general manager for the New York Life in- 
surance company for New Jersey, Connecticut, Khode Island, Long 
Island, and western Massachusetts, resigned June 30, 1892, and was 
succeeded by the assistant manager of the department, Robert A. 
Whitney. Mr. Baldwin and Percy V. Baldwin were appointed by the 
Manhattan Life managers for the states of New Jersey and Connecti- 
cut and Long Island from November 1, 1892. 

Ballard. Frank H., was appointed superintendent of agencies of 
the Equitable Life Assurance Society from January 1, 1892. Mr. Bal- 
lard is a son of the late Frank W. Ballard, and had been in the service 
of the company fifteen years. 

Ballimore Life Underwriters* Association was organized Jan- 
uary 11. 1887, and^reorganized May 1, 1890. The first oflicers were 
Oscar F. Bresee, president, William H. Blackford and Jonathan K. 



.,y. zed by Google 



Beddall, Edward F. 41 

Taylor, vice-presidents, Henry P. Goddard, secretary. The officers 
elected at the annual meeting, April 12, 1892, were H. P. Goddard, 
president, Frank Markoe and H. B. Meigs, Tice-presidents, F. C. Nico- 
demus, secretary, Monroe Snell, treasurer. The present officers, elected 
at the annual meeting in April, 1893, are Frank Markoe, president, 
Charles W. Jackson, secretaiy. 

Batterson, James 6., president of the Travelers insurance com- 
pany of Hartford, was bom at Bloomfield, Conn., February 28, 1828. 
His early life was spent in Litchfield county, where his father was 
engaged in the marble trade. He served an apprenticeship in a print- 
ing and book publishing establishment at Ithaca, N. Y., but returning 
to Litchfield, went into business with his father, and in 1846 began on 
his own account as a dealer in and importer of marble and granite. 
Mr. Batterson was the first in the United States to polish granite by 
machinery. He is still at the head of this business, which is one of 
the largest in the country. His attention was called to the accident 
insurance business while traveling in England, having purchased a." 
ticket of the Railway Passengers assurance company. He studied the 
plans of this corporation, and returning to the United States secured, 
m 1863, a charter for the Travelers insurance company, of which he 
became president. In 1866 he obtained legislative permission for the 
company to do a life insurance business also. [See Travelers insur- 
ance company.] 

Bayne, Andrew C*. was elected vice-president of the ^tna insur- 
ance company of Hartford on the reorganization of the official staff, 
December 7, 1892, following the death of Mr. Goodnow. Captain 
Bayne was, previous to his connection with the ^tna, with the Han- 
over Fire of New York thirteen years. He served the ^tna in the 
field several years, having his headquarters at Albany, N. Y., and he 
was elected secretary of the company in 1885. Captain Bayne has a 
conspicuous war record. He enlisted as a private in a New York regi- 
ment in April, 1861, and fought through the entire conflict, most of it 
as a commissioned officer. After the war and until 1871 Captain 
Bayne was an officer in the regular army of the United States. 

Beavan, Jeffrey, resident United States manager of the London 
and Lancashire insurance company, was bom in Liverpool, £ng., in 
May, 1852. In 1870 he entered the office of the Royal insurance com- 
pany as a clerk, which position he changed to a clerkship in the Lon- 
don and Lancashire in 1874. He was appointed foreign superintendent 
of that companv in 1880, and in May, 1885, he was sent to the United 
States to act as loint manager with Mr. Yereance, and when that gen- 
tleman resignea to accept the presidency of the Alliance insurance 
association, in 1887, Mr. Beaven assumed the sole management for the 
London and Lancashire. 

leddaH, Edward F., manager at New York for the Royal insur- 
ance company of Livoipool, is a native of the county of Essex, 
England, where he was born May 1, 1830. His first connection with 
the insurance business was as inspector of agencies for the London 
branch of the Royal, in 1863. Mr. Beddall was made manager of the 



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42 Beneficiary Orders and Societies. 

Oanadian branch of the Royal in July, 1871, and of the New Torit 
branch in Julj, 1878. He nas, therefore, been connected with the 
companj thirty years. He is also Tice-president of the Queen insur- 
ance company of America. He is a warden of the cliurch of St. 
George the Martyr, and a member of the board of management of St. 
Luke's Hospital, New York; he has been president of St. George's 
society of New York and is prominent in social, charitable, and 
religious matters in the metropolis. 

Beecher^enry B., insurance manager in the city of New York, 
is the son of Henry Ward Beecher, and was born in Brooklyn about 
fifty years ago. He was graduated at Yale college and on the break- 
ing out of the war enlisted in the army, serving as colonel of yolun- 
teers. On the return of peace, Col. Beecher entered the insurance 
business in New York and established the general agency firm of 
Beecher, Schenck & Benedict, now Beecher, Scheack & Company, 
which is one of the largest of its class in the world. 

Beers, William H., late president of the New York Life insur- 
ance company, was born April 16, 1823. After experience as a book- 
keeper in an express office and as a clerk in the paymaster's department 
in the naval service of the United States, in 1851 he secured an engage- 
ment with the New York Life as accountant. The remaining forty- 
two years of his life have been given by Mr. Beers to this company. He 
rose to the presidency by successive grades, having succeeded Mr. 
Freeman as actuary in 1864, and being elected vice president in 1868, 
and president, on the death of Mr. Franklin, in 1885. His retirement 
took place in 1892, and he how holds an advisory position in connec- 
tion with the management of the company. [See New York Life 
insurance company.] 

^^Beldeii; John S.jwestem general agent of the London and Lan- 
cashire, was born at Warsaw, N. Y., September 8, 1839, and has been 
a resident of Chicago since 1862. He began his connection with in- 
surance in 1865 as accountant with the Security insurance company, 
in which office he remained until 1871, and was with the Royal until 
1872, then with the Imperial until 1878, and with the German- Ameri- 
can until 1888. He was appointed general agent of the London and 
Lancashire in 1888, having charge of fifteen western states. 

Beneficiary Orders and Societies. [See Fraternal Societies, also 
National Fraternal Congress, also business of Fraternal Organizations 
in Appendix.] 

Bennett, Martin, United States branch manager for the Lion Fire 
of London and the Scottish Union, and National of Edinburgh, is i| 
native of Bristol, R. I. , and a graduate of Brown University. He was 
general agent for the Connecticut Fire of Hartford as early as 1860, 
and afterwards its secretary, and in 1872 he became its president. He 
was secretary of the National Board of Fire Underwriters in 1878 and 
1879, and president in 1880. The same year he received the appoint- 
ment of resident manager for the two British companies for the entire 
United States and Canada. 



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Blagdbn, Samuel P. 43 

lensoD, B. Dale, president of the PennsylvaQia Fire insurance 
company, was born in Philadelphia December 6, 1841. He was a 
clerk in a wholesale grocery house when the civil war broke out 
and enlisted in a Pennsylvania regiment. He was mustered out July, 
1865, as a brevet-major of volunteers. At the lime of the Pittsburgh 
riots in 1877, he was colonel of the first regiment of Pennsylvania state 
troops. For some years before identifying himself with fire under- 
writing Col. Benson was in business in connection with a large tea 
importing hou«e. In 1881, he was elected vice-president of the 
Pennsylvania Fire, and in 1890, on the death of Mr. Devereaux, he 
succeeded him as president. 

Beveridge, David, has been actively connected with fire insurance 
for nearly twenty-fiveyears. In 1871, he was special agent at Chicago 
for the iNew York Underwriters Agency, and 1874 general agent 
in the west for the Niagara Fire. He was manager of the Michigan 
Inspection and Rating Bureau and has been compact manager at 
Minneapolis and Detroit. His latest service to insurance has been as 
inspector for the insurance auxiliary committee of the World's 
Columbian Exposition, from which position he recently resigned. 

Biflsell, George F., manager of the western department of the 
Hartford Fire insurance company, was born near Hartford, Conn., 
and when a youth settled at Springfield, Mass., in mercantile pursuits. 
In 1850 he removed to Iowa, where, with a brother, he was engaged in 
the wholesale grocery and commission business several years. In 
1855 he was local agent for the Hartford, and five years later went 
wholly into its service as general agent in Iowa. In 1861 he was 
transferred to Chicago, and in 1868 was promoted to general manager 
of a territory extending from the eastern line of Ohio to the Rocky 
Mountains and south to the Gulf. This important charge Mr. Bissell 
has now had for thirty years. 

Blackirelder, I. S., manager of the western department of the 
Niagara and the Caledonian insurance companies, was born in Mont- 
gomery County, Illinois, about 53 years ago. In 1862, when he^was 
county clerk at Hillsboro, 111., he was also a local fire insurance agent. 
From 1868 to 1881 he was in the field as representative of various 
prominent fire companies, except that three years of the time — 1874 
to 1876 — he traveled as supervising aeent for the National Board of 
Fire Underwriters. In April, 1881, Mr. Blackwelder was appointed 
western manager for the Niagara Fire with headquarters at Chicago. 

Blagden, Samuel P., resident United States manager for the 
North British and Mercantile insurance company, was born at Boston, 
Mass., October 8, 1840, the son of a diBtinguishcd divine of that city. 
He received his collegiate education at Williams, and after graduation 
began in 1862 the fire insurance business in Boston. In 1866 he 
became assistant manager in the New York office of the North 
British and Mercantile, and in 1870 joint manager with Ezra White. 
This relation continued with Chailes E. White, who was Ezra White's 
successor, and when he retired in 1887 Mr. Blagden became manager 
in chief. He was secretary of the National Board of Fire Under- 



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44 Boston Board of Firs Underwriters. 

writers, from 1878 to 1875, and was president of the New York Board 
of Fire Underwriters in 1890 and 1891. 

Blaflrdon, Thomas, New York fire insurance broker. [See Death 
Roll.] 

»Blodgrett, Tiiden, of the New York office of the Equitable Life 
Assurance Society, was born in New York, February 6, 1852, and baa 
been connected with the company since 1869, beginning at the lowest 
rung of the ladder and climbing to the post of a manager of the 
metropolitan department. Mr. Blodgett was one of the organizers of 
the Life Insurance Association of New York, and was its president in 
1892. He was also the first vice-president of the National Association 
of Life Underwriters. 



"^HBoardman, George C.^ general agent of the ^tna of Hartford for 
the Pacific coast, was born and reared in Hartford, Conn. He became 
a special agent for the Merchants' insurance company, and in 1860 
▼isited California in the Interest of that company. In 1861 he became 
secretary of the San Francisco insurance company, and in 1863 was 
elected president. In 1868 he resigned and accepted the general 
agency of the iEtna. Practically Mr. Boardman's career as a fire un- 
derwriter on the Pacific coast covers the whole histoir of the business 
there. He proposed and mainly promoted the origmal board of un- 
derwriters, which paved the way for the Pacific Insurance Union. 

Board of Underwriters of New York, which represents ocean 
marine companies doing business in New York, was organized in 1820, 
and has been in uninterrupted operation since. The present officers 
are John D. Jones of the Atlantic Mutual of New York, president; 
James F. Cox, vice-president; James A. Whitlock, secretary; A. C. 
Spencer, clerk. 

Boards of Fire Underwriters, State. [See Fire Underwriters 
Associations.] 

Bond and Mortgage Guaranty company of Brooklyn, N. Y., was 
organized March 29, 1892, with 1 1,000, 000 paid up capital stock. 
William B. Isham is president and Frank Bailey secretary. The com- 
pany, as its title indicates, insures the payment of the principal and 
interest of such bonds and mortgages as it is willing to accept for that 
purpose. Only a beginning of business was made in 1892. 

Borrowe, Samuel, second vice president of the Equitable Life As- 
surance Society, was born in New York, August 8, 1887, and joined 
the office force of the company in early manhood. He was city man- 
ager in 1868, appointed secretary in 1869, and second vice-president in 
1878. 

Boston Board of Fire Underwriters was organized November 
14, 1882. At the annual meeting, November 8, 1892, the special com- 
mittee on co-insurance reported the following rule, which was unani- 
mously adopted: 



All rifike epecifically rated by the BoBton Board of Underwriters, where exceptions 
> not herein provided, are rated on the baels that thene rinks are insored to at least 
per cent, of toeir value, and on and after the date of the promulgation of thie role, 

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Boston Inbfbction Department. 



45 



poHdee coyering all snch speciflcally rated risks must be written with an 80 per cent 
co-inBurance clause, unless otherwise permitted by some subjection referred to herein. 

The following officers and executive committee were elected : Presi- 
dent, B. B. Whittemore; secretary, Osborne Howes; ezecutiye com- 
mittee, Herbert Coolidge, H. 8. Wheelock, C. E. Guild, A. W. Pope, 
H. 8. Bean, F. H. Stevens. 

Boston Board of Marine Underwriters was organized May 9, 
1850. The officers for 1898 are John H. Dane, president; Francis Pea- 
body, vice-president; George N. Amerige, secretary and treasurer; 
William Can field, inspector. The office of the board is at the Mer- 
chants Exchange Building on State street, Boston. The board makes 
the tariff of charges for marine insurance, and its inspector inspects 
and fixes the rate on all vessels arriving in port and applying for in- 



Boston File Insurance Losses, 1881-1892. The following tabu- 
lation appeared in the report of the Boston Protective Department for 
the year ending March 1, 1898: 



Year Total Insurance 
ending on Buildings 
Dec 81. and Contents. 


Total LoM on 
Buildings and 

Companiee. 


Per cent, of 
total Insur- 
ance Paid in 
Losses by 
Go's. 


Total Loss on 

Buildings and 

Contents. 


Per cent, of 

Total Loss 

to Insurance. 


1881 $3,005,227.61 

1882 4,880,898.67 
1888 6,609,103.»6 

1884 7,471,992.68 

1885 6,068,732.28 

1886 1 5,003,906.71 

1887 5,176.536.64 

1888 8,066,788.28 

1889 11,786,463.15 

1890 8,179,364.62 

1891 10,447,876.87 

1892 8,481,061.68 


$420,404.61 
782,041.81 
981,306.49 
970,303.29 

1,122,449.96 
776,073.91 
640,939.02 
943,130.91 

4,061,018.83 
960,847.26 

1,388,877.43 
731,948.78 


16.76 
16.08 
14.11 
12.98 
18.51 
16.48 
10.45 
11.69 
34.60 
11.74 
13.29 
8.68 


$467,105.82 

958,885.88 

1,132,962.18 

1,101,253.60 

1,232,255.05 

1,080,196.06 

690,454.11 

1,081,676.72 

4,819,446.67 

1,088,887.29 

1,612,074.51 

846,895.12 


11.96 
10.64 
17.16 
14.78 
90.32 
21.76 
13.34 
12.79 
41.06 
13.81 
14.47 
9.97 


Total, $86,011,976.94 


$13,628,841.28 


15.84 


$15,969,709.60 


18.67 



Boston Fire Underwriters Union was organized May 22, 1872. 
It was originally the rating board for Boston, but was superseded by 
the Boston Tariff Association in 1882, which was in turn succeeded by 
the present Board of Fire Underwriters. The organization of the 
Union has been kept alive simply that it ma^ serve as a vehicle for the 
electrical matters of the Board. The presidency of the Union is va- 
cant and has been so for about two years; Charles £. Guild is treasurer, 
and Osborne Howes, Jr., is secretary. The electrical inspectors of the 
Union are Qeorge W. Wilson, F. H. Carter, Geo. H. Spooner. 

Boston Inspection Department. The annual report of the in- 
spection department of the Boston Board of Fire Underwriters for the 
year ending November 1, 1892, stated that the department had made 
6,083 complete inspections of buildings, and secured the correction of 
defects found in 8,954 of these inspections. As it took at least one 
additional visit and of tener two to secure this correction of defects, it 



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46 Boston Protbctite Departmbkt. 

was safe to Bay that there have been at least 10,000 yisite to the build- 
ings inspected during the past year. Regarding sprinkled risks the 
report said : 

We havo now seventy-six risks protected with automatic sprinklers, a large nnmber 
of these connlsting of two or more buil(lin)<s. These are frequently and ri^Tidly in- 
spected, the visits averai^ng about once in six weeks, and no effort is spared to bring 
the prc»tectioo to the highest state of efilcicncy known. We have obtained the nse of 
admirable arrangements for testing the operation of heads concerning which there maj 
be doubt, either on acount of their new form or from having been subjected to condi- 
tions likely to render them inopc^rative; in conse<{uencc of defects thus made manifest 
we have been able to secure changes which we found necessary in s<*vcral buildings. 
?Uy the manner in which we believe 



Wc are now ready to indicate exactly the manner in which we believe sprinklers should 
be arranged, and supplies of water provided for them in order to produce the; best re- 
sults unaer all conditions, and the eight risks e(iulp))ed with sprinklers during the year 
have been under the direction and su|)crvision of this department from the beginning 
of the installation. Five fires have occurred during the year in sprinkled risku; and in 
every case the sprinkler has put out the Are without external aid and with but small 
loss. Our knowledge of the conditions leads us to believe that in at least two cases the 
loss would have been very large had it not been for the prompt extinguishing of the fire. 

F. E. Cabot is the head of the department, having the official title 
of superintendent of inspections. 

Boston Life Underwriters* Association was organized in 1883, 
the original officers being Cornelius G. Attwood, president ; Ben S. 
Calef and J. Mason Everett, vice-presidents ; George N. Carpenter, 
secretary ; Francis Marsh, treasurer ; James T. Phelps, E. J. Smith, 
D. W. Kilburn, C. W. Uolden, and Sidney M. Hedges, executive com- 
mittee. The presidents of the association from organization to 1893 
have been as follows : 

1888 Cornelius Q. Attwood. I 18R9 Daniel W. Kilbnm. 

1H84 Ben S. Calef. Ih90 David N. llolway. 

1885 Charles W. Holden. I 1891 Darwin Barnard. 

1886 Walter M. Hodgi>8. ' 1892 Sidnev M. Hedges. 

1887 James T. Phelps. i lOW Nathan Warren. 

1888 Geo. N. Carpenter. ; 

The officers for 189^3 were, Sidney M. Hedges, president ; Nathan 
Warren and Stephen F. Woodman, vice-presidents ; Franklin Barnard, 
secretary ; Francis Marsh, treasurer ; Edward H. Osborn, editor of 
the Solicitor; Ben F. Calef. chairman, and William F. Batche, Charles 
A. Hopkins, Walter W. Hodges, and Darwin Barnard, members of the 
executive committee. The officers for 1893-4 are : Nathan Warren, 
president ; Noah Plympton and C. D. Hammer, vice presidents ; 
Franklin Barnard, secretary ; Francis Marsh, treasurer ; E. H. Osborn, 
editor of the Solicitor; James T. Phelps, chairman, S. M. Hedges. 
W. F. Batche, C. A. Hopkins, and 8. F. Woodman, members of the 
executive committee. 

The tenth anniversary of the association was celebrated at Young's 
Hotel, Boston, February 14, 1893, by a banquet. The speakers, be- 
sides President Warren, were Lieut. -Govern or Wolcott of Massachu- 
setts, W. H. H. Davies, solicitor of the Mutual Life Insurance Com- 
pany, Commissioner Merrill, President Tillinghast of the national 
association, Kev. Dr. Cuckson, Darwin Barnard, Robert M. Morse, 
Secretary of State Olin, President Register of the Philadelphia asso- 
ciation, and Ben S. Calef. 

Boston Protective Department has grown and developed out of 
small beginnings. In 1849 its sole equipment consisted of two canvas 

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Bowers, Hbnby E. 47 

bags containing each three oil covers. The headquarters were located 
in the insurance office of Dobson & Jordan, No. 50 State street. As- 
sistant Enrineer F. A. Coburn of the fire department was in charge, 
and had a key to the office door. He was authorized to press any per- 
son into service to carry the covers. In 1858 the fire department 
allowed the insurance companies to place six oil covers on the ladder 
of Ladder Company No. 1, to be used at fires. The men were paid at 
the rate of fifty cents an hour for their services. October 1, 1868, the 
first company was organized by Assistant Engineer W. A. Green, of 
thafire department, and consisted of nine men, the driver being the 
only permanent man. The apparatus and equipment at that time con- 
sisted of a one-horse milk wagon, twenty-five covers, and a number of 
brooms and shovels, the whole being housed in the old Engine Com- 
pany No. 8's house jn North Bennett street. Up to March 29, 1874. the 
department was maintained by voluntary contributions. In 1874 the 
legislature granted a charter to the organization, which was accepted 
March 11, immediatelv after its passage, and a code of by-laws adopted. 
The original title, " The Boston Prot-ective Department" was retained 
in the corporate name, and the fire insurance companies doing business 
in Boston are required to maintain it. The maximum amount for ex- 
penditures was placed at $80,000. Captain J. S. Jacobs was appointed 
superintendent 1874, and Company No. 2 was organized and located 
on Shawmut avenue, corner of Pleasant street. In 1875 the annual 
appropriation for the support of the department was increased to $40,- 
000. July 1, 1880, Samuel Abbott, Jr., was elected superintendent, 
and is still at the head of the department. In 1891 the appropriation 
was increased to $50,000. The department voted to adopt the New 
York system known as " doable banking," requiring two extra wagons 
and a double outfit at each house with a second crew of men who will 
be on duty through the night and subject to " call " service during the 
day. The present organization consists of two companies and a total 
force of 56 men. There are ten horses, four wagons, 394 rubber 
covers, and two sleighs. The total number of fires and alarms during 
1892 was 1.242, or 227 more than the previous year. The expense of 
maintaining the department for the year ending March, 1893, was 
$54,844. 

Boston UnderwriterR InHpectors Club. At the annual meeting 
at Boston, October 19. 1892, B. B. Whittemore made an address on fire 
insurance inspection during the past thirty years. Officers were elected 
as follows : President, George L. Elwell ; vice-president, H. J. O'Neill ; 
secretary, William H. Wedger ; treasurer, Ira W. Orcutt ; executive 
committee, F. E. Cabot, H. J. O'Neill. G. W. Wilson. 

Bowers, Henry E., resident United States manager of the Guardian 
of London, was bom at Bozrah, Conn., December 3, 1840, but passed 
most of his boyhood in Norwich. In 1863 he was assistant editor of 
the Norwich Morning Bulletin, and in 1864 became the accountant 
of the Norwich fire insurance company. He was appointed general 
agent of the Fireman's Fund and the Union of California in 1868, 
special agent of the North British and Mercantile for New England in 
1872, ana United States manager of the Guardian in 1876. Previous 
to his acceptance of the management of the Guardian, he was for some 
years a member x)f the firm of Skeels, Bowers & Boughton, at Boston. , 



48 Bboicwbll, L. L. 

Bojrden, S. S., was appointed actuary of the Union Mutual Life 
insurance company in February, 1892. 

Bradley, Frederick, of Scull & Bradley, Boston fire insurance 
general agents. [See Death Roll.] 

Brewer, William A., Jr., president of the Washington Life in- 
surance company of New York, was born at Boston, Mass., October 9, 
1885. He graduated from the scientific department of Harvard College 
in 1854, with the degree of 8. B. Following the Tocations of civil 
engineer and architect, he was for two years engaged on the construc- 
tion of the Lexington & Big Bandy railroad of Kentucky. In April. 
1857. he entered the actuarial department of the Mutual Life of New 
York, under Mr. Sheppard Homans. In 1860 he was appointed 
actuary and secretary of the Washington Life« April 18, 1869, he 
was advanced to the vice-presidencv and June 30, 1879, he succeeded 
the late Mr. Curtiss as president. Mr. Brewer resides at South Orange. 
N. J., which he has served in various public capacities ; two terms as 
president of the village, fourteen years an officer, two years of them as 
president of the New England society of Orange, director of the 
Orange Athletic and Riding clubs, etc. 

■■'I "iBrewster, James H., assistant United States manager of the lion 
and Scottish Union and National, was bom at Coventry, Conn., Deceoi- 
ber 24, 1845. He entered the office of the Connecticut Fire insurance 
company in 1867, and was appointed assistant secretary in 1878. He 
retired from that company with President Bennett, when the latter 
was put in charge of the two British companies, and was appointed 
assistant manager under him. 

British America assurance compan^r of Toronto, Out. , was ruled 
out of Massachusetts in February, 1892, in accordance with the law of 
that state charging up as capital and therefore liability, the whole 
amount of deposits by foreign companies with the various states wiUi 
which they do business. This created a technical impairment of the 
capital of the company, under the Massachusetts law. The company 
withdrew but subsequently, having made good the impairment, was re- 
admitted. The control of this company was purchased in December, 
1892, by the Western assurance company of Toronto. The two com- 
panies continued in business separate! v, but used the same agents in 
the United States as far as practicable. Governor Morrison of the 
British America retired. 

Bromwell, L. L., Pacific coast manager, was bom at Cincinnati, 
O.. about 1846, and at the age of twenty became a clerk in the Cincin- 
nati office of the Phoenix of Uartford. In 1868 he was appointed a 
special agent and adjuster of the same company, and in 1870 received 
a similar appointment in the Pacific coast department of the Home and 
Phoenix. In 1878 he was general agent of the California insurance 
company ; in 1879 was elected vice-president, and in 1885, upon the 
retirement of Mr. Hopkins, was elected president, continuing until the 
com pan V stopped. For some vears he was the Pacific coast manager 
of the Union Fire and Marine insurance company of New Zealand. 



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Bullock, A. Gbobge. 49 

Brooklyn Fire Insurance Rates. At a meeting of the Tariff 
association of New York, held December 22, 1892, the following 
resolution was adopted : 

Remdved^ That until such time as the lire department in the city of Brooklyn shall 
have been improved to the satisfaction of the fire underwriters, ezpreeeed through this 
aseociation, tnerc uhall be added to all rates S6 per cent That sucn addition be made 
separate in the form of a rider, the wording of which shall be promulgated by the man- 
ager of the sssociation. 

The promulgation of the adyance in rates created much excitement 
in Brooklyn and led to an investigation of the fire department by a 
eommission of citizens appointed by the mayor. On the promise that 
the defects in the department would be remedied, the Tariff associa- 
tion suspended the advanced rates in March, 1898. 

B rowne, John D., president of the Connecticut Fure insurance 
company, was bom at iPlainfield, Conn., in 1836, and at the age of 
eighteen years was following the vocation of teacher in his native 
town. In 1855 he established himself in Minnesota as agent of an 
eastern manufacturing company, and there he remained several years, 
gaining a varied experience of western life. In 1865 he was appointed 
western special agent of the Home of New Haven, and in 1867 trans- 
ferred his services to the Hartford Fire in the same capacity. He was 
called to Hartford as secretary of the company in 1870, ana that office 
he resigned in 1880 to become president of the Connecticut. 

Brownell, Channcey W., secretary of state and one of the insur- 
ance commissioners of Vermont, was bom in Williston, in that state, 
October 7, 1847. He is a lawyer by profession ; was graduated from 
the University of Vermont in the class of 1870, and from the Albany, 
N. Y., Law School in 1872 ; was state's attorney for Chittenden county 
from 1884 to 1886 ; assistant secretary of the senate from 1874 to 1880, 
at which time he was elected to the office of secretary, a position he 
held until 1890. He was elected secretary of state in 18^, and was 
re-elected in 1892. 

^Balkeley, Morgan 0., president of the uStna Life insurance 
company, is a son of Judge Eliphalet A. Bulkeley, the first president 
of both the Connecticut Mutual and the ^tna. He was born at East 
Iladdam, Conn., December 26, 1837. When a youth he was engaged 
in the dry goods business in Brooklyn, N. Y. In 1872 he returned to 
Hartford, organized the United States Trust company, and was its 
president until July, 1879, when, upon Mr. Enders' resignation, he was 
chosen president of the ^tna Life. In 1880 Mr. Bulkeley was elected 
mayor of Hartford, and served four years, and was governor of Con- 
necticut from 1888 to 1892. He takts an active interest in politics and 
is connected as director with several financial and manufacturing cor- 
porations of Connecticut. 

Salloeky A. George, president of the State Mutual Life assurance 
company of Worcester, Mass., was born at Enfield, Conn., June 2, 
1847, and was graduated from Harvard University in 1868. He was an 
active member of the bur of Worcester county until 1883, when he 
was elecled president of the State Mutual to succeed his father, Ex-Gov. 
Bullock, who died a few months before. 



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50 Galbf, Bkn. 8. 

^wBance, Jonathan B., president of the Ph(PDiz Mutual Life insur- 
ance company of Hartford, was born in that city in 1832. He re- 
ceived bis early business training in the city of New York, but in 1860 
he was in the wool business in Hartford and continued in it some 
fifteen years. In 1872 he was elected a director of the Phcrnix Mutual, 
and upon his retirement from mercantile life in 1875, vice-president of 
the company. In 1889, upon the reorganization of the management of 
the company, Mr. Bunce was elected president. 

Bnrch, Thomas Ross, western and southern general agent for the 
Phenix of Brooklyn [see Death Roll]. July 15, 1892, Eugene Har- 
beck became successor to Mr. Burch. 

Bnrdick, Charles W., state auditor and ex officio insurance com- 
missioner of Wyoming, was elected to this ofilce in 1890. His only 
previous public service was as a member of the upper house of the 
Wyoming territorial legislature. 

Bnive, Lorenzo W., of L. Burge, Hayes & Co., fire insurance 
agents, Boston, Mass. [sec Death Roll]. 

Bnrford, George H., president of the United States Life insurance 
company of New York, was bom at Baltimore, Md.. March 20, 1848. 
At the age of sixteen years he entered the service of the Brevoort Fire 
insurance company of New York as a clerk, and there he continued 
until 1866 when he secured a clerkship in the office of the United 
States Life. He has risen by successive steps to the presidency. He 
was appointed actuary in 1877 and succeeded Mr. Brosnan as president 
in 1886. 

Burnett^ George H., general manager of the North British and 
Mercantile msurance company, was born in London in 1836. He 
entered the service of the Northern in 1854, and resigned in 1861 to 
take an appointment as forei£:n clerk in the Mercantile, and was soon 
after, on its amalgamation with the North British, appointed superin- 
tendent of the foreign fire department. He was afterwards advanced 
to the management of the company. 

*Bart, Charles R., secretary of the Connecticut Fire insurance 
company, was born in Hartford in 1845, and has pursued his entire 
business career in that city. In 1865 he entered the service of the 
Connecticut as a clerk, though for several years prior to that time he 
was actively connected with the local agency of the company. After 
two years as clerk, he was, in December, 1867, made assistant secretary 
and m January, 1873, he was advanced to the secretaryship. 

o 

Caledonian insurance company of Edinburgh, selected in April, 
1892, the Niagara Fire insurance company of New York to manage 
its United States business, except on the Pacific coast. Henry W. 
Brown of Philadelphia, the late United States manager of the Cale- 
donian, was appointed a trustee of the United Slates branch. 

Calef, Ben. S., is a native of Maine, and was educated at Salem. 
Mass. For some years he was in an iuipurtiug house in the city of 
New York. When the civil war broke out, he enlisted in the Ninth 



ioogle 



Cafital, Ingbbasb and Reduction of. 51 

regiment, New York State militia, and marched to the front. Later 
he served on the staff of General Binney of the third army corps, 
where he obtained the rank of major. He was taken prisoner at the 
battle of the Wilderness. Going to Boston after the close of the war, 
he again engaged in the importing business, but in 1872 he became 
interested in life insurance and served successively with the United 
States Life, the Mutual Life, the New York Life, and the Manhattan 
Life. He now represents the latter company in Boston as its New 
England general agent. Major Calef was one of the organizers of the 
Boston Life Underwriters association and its second president. 

California insurance company of San Francisco reinsured its cen- 
tral department risks in the Home of New York and the remainder of 
itfl risks in the Fireman's Fund of San Francisco, in April, 1892, and 
retired from business. 

California Insnrance Report for 1892. The twenty-fourth 
annual report named the following admissions to the state during the 
preceding year, 1891. United Firemen's, Jersey City, Armstrong Fii-e, 
Royal Exchange, Palatine, New York Bowerv, Delaware, Queen, 
United States Lloyds, New York Plate Glass, and Commercial Alliance 
Life. Three California companies, the Alta, Commercial, and Southern 
California, discontinued business, and two companies, the Liberty 
of New York and Queen of Liverpool, withdrew. 

The receipts of the insurance department in 1891 were $32,188 and 
the expenditures $6,693. 

California, Insnrance Supervision in, 1868-1898. The insur- 
ance department of California was organized in 1868. The title of the 
officer in charge is insurance commissioner ; he is appointed b^ the 
governor and his term of office is for four years. The commissioners 
have been as follows : 

George W. Mowe, May 6, ISS^-April 1,1872 

J. W: Foard April 1, 1872-April 8,1878 

J. C. Maynard, . . . ♦ . . April 8, 18r8-Aprll 8, 1883 

George A. Knight April 8, 1882-April 19, 1886 

J. C. L. Wadsworth April 19, 1886-Apnl 8, 1890 

J. N. E. Wilson, April 8,1890- 

Mr. Wilson is the present commissioner, his term expiring in April, 
1894. His successor will be M. R. Higgins, who was appointed by the 
governor in March, 1898. M. M. Kohrer is the present deputy 
commissioner. 

Callinghani, William J., general agent of the Scottish Union and 
National insurance company for the Pacific coast, is a native of Eng- 
land, where he was educated and began his business career in a whole- 
sale importing house. In 1862 be migrated to British Columbia, and 
1867 found him in San Francisco. He represented several important 
fire insurance companies successively, and in 1881 received the appoint- 
ment to the general agency of the City of London Fire for the JPacific 
coast, and the agency continued with him until the company's absorp- 
tion by the Palatine. lie was appointed general agent tor the Pacific 
coast of the Scottish Union and National, January 1, 1889, and now 
has charge of the business there of that company. 

Capital, Increase and Reduction of^ in 1892 : The Western of 
Toronto, during the year Increased its capital from $1,000,000 to $1,- 



53 Cabb, Chablbs Ltman. 

200,000, and the Peoples Fin of New Hampshire from $860,000 io 
$500,000. On the other hand, the Fidelity of Cincinnati dropped from 
$200,000 to $100,000, and the New York Bowery Fire from $300,000 
to $200,000. 

CaroUnas. Life Insurance Association of the. [Bee Life Insur- 
ance Association of the Carolinas.] 

Carpenter, Edwin W., general a^nt of the Royal and Norwich 
Union iot the Pacific coast, was born m Fox borough, Mass., April 21, 
1841. He was graduated in 1864 from the Shefileld Scientific school 
at Yale College. In 1865 he was appointed clerk of the United States 
District Court at Helena, Mont., at which place he resided until 1875. 
During that time he was alternately newspaper editor, county treasurer, 
superintendent of public schools, and local agent for several insurance 
companies. He issued the first insurance policy written in Montana. 
He became the special agent of the Fireman's Fund in 1875, and later 
assistant secretary of that company, which position he resigned in 
1887 to take the management of the two British companies. Mr. 
Carpenter is a frequent writer for the msgazines and is a clever paro- 
dist in verse. 

Carpenter, George N., manager for eastern Massachusetts of the 
Massachusetts Mutual Life insurance company, was bom at Northfield, 
Vt., January 26, 1840. He was graduated from the University of 
Vermont in 1861, and at once joined the Union army, serving through- 
out the war. He entered the life insurance business in 1867 in connec- 
tion with the National Life of the U. S. A. Subsequently he was 
with the Union Mutual Life for Uiree years, and for the past thirteen 
years with the Massachusetts Mutual. Mr. Carpenter was one of the 
organizers of the Boston Life Underwriters Association and its presi- 
dent, and he was the first president of the National Association of Life 
Underwriters. 

Cary, Eugene, manager of the western department of the Qerman 
American insurance company of New York, was born on an Erie county 
farm in New York, February 20, 1835. In youth he taught school and 
afterwards studied law. He was district attorney at Sheboygan, Wis., 
in 1856, and when but twenty -two years old was elected county judee 
of Sheboygan county. He went to the war in 1861 as captain in the 
First Wisconsin, and was afterwards judge advocate in the army of the 
Cumberland. After the war, settling in Tennessee, he was for some 
time state agent of the ^tna, at the same time serving in the state 
senate. He went to Chicago in 1871 to take the western management 
for the Imperial, and in 1873 transferred his services to the German- 
American. ' In 1883 Judge Cary was the Republican candidate for 
mayor of Chicago. 

»>€ase, Charles Lyman, was appointed United States branch man- 
ager of the London Assurance Corporation in December, 1892, suc- 
ceeding George H. Marks, resigned. 

Mr. Case was born at Chelsea, Mass., in 1850. After a clerkship 
in a Boston book store, he went, in 1870, to Chicago, ill., and entered 
the insurance agency office of C. H. Case & Co. His field service be- 
gan in 1872 with the Insurance Company of North America, and sub- 
sequently he represented the Pennsylvania Fire in a similar positioq. 



CHtcAeo Board of Undbrwbiterb. 63 

Id 1877 he established a ]oca1 agency in St. Louis, Mo., with one of his 
brothers. He returned to Chicago in 1887 totake the western manage- 
ment of the London Assurance Corporation, and succeeded to the 
United States management on the retirement of Mr. Marks in 1892, 
removing from Chicago to the branch headquarters at New York. 

Census Statistics of Insurance. [See Insurance Statistics, Cen- 
sus Reports of.] 

Central City insurance company of Selma, Ala., reinsured its 
business in the Hartford Fire, June 28, 1892. This company was or- 
ganized in 1863 with a cash capital of $100,000. It retired from busi- 
ness solvent, but because the future of fire insurance was unpromising. 

Charter Oak Life Reeeiyershlp. On May 14, 1892, the receivers 
of the Charter Oak Life insurance company of Hartford began pay- 
ing out $454,000, being the first dividend of fifteen per cent, to 
claimants. The total amount of funds on hand October 1, 1892, was 
$67,985, and April 1, 1898, was $52,529. The expenditures of the 
receivership in the six months ending April 1, 1893, were $5,456, of 
which $2,600 went to the two receivers to pay their quarter's salaries. 
^^ Chase, George L«. president of the Hartford Fire insurance com- 
pany, was bom at Milibury, Mass., January 18, 1828. His father was 
a farmer. At the age of nineteen he began his business career as the 
agent of the Farmers Mutual Fire insurance company of Georgetown, 
and traveled with a horse and buggy through southern Massachusetts 
and eastern Connecticut taking risks. In 1848 he was appointed 
traveling agent of the Peoples of Worcester, a position he held until * 
1852, when he was appointed assistant superintendent of the Central 
Ohio railroad. He was soon advanced to the position of superinten- 
dent, and was one of the five railroad superintendents who met in 
Columbus, Ohio, in 1853, and formed the first association of railroad 
superintendents in the United States. In 1855 he became the western 

general agent of the New England insurance company of Hartford, 
e remained with the New England until 1863, when he received the 
appointment of assistant general agent of the Hartford Fire, and in 
1867 was elected itspresident, and has been for the past twenty-fi.ve 
years a resident of Hartford. In 1876, Mr Chase was president of the 
X^ational Board of Fire Underwriters. 

The fire and life underwriters of Hartford gave a reception to Mr. 
Chase, June 15, 1892, on the completion of the twentv-flftn year of his 
service as president of the Hartford Fire. Congratulations and remi- 
niscential speeches were made by President Skilton and ex-Vice-Presi- 
dent Jillson of the Phoenix, General Agent Abram Williams of the 
Connecticut, Secretary Bayne of the uEtna, and President Whitine of 
the Orient. A solid silver loving cup, manufactured for the occasion, 
was presented by the secretaries and general and special agents of the 
home office, to Mr. Chase. 

Chicago Board of Underwriters: The first board of under- 
writers of Chicago was organized in 1849. W. Dole, who represented 
a company now long defunct, the Columbus insurance company of 
Ohio, was the first president, and John C. Dodge was secretary. 
After this organization fell to pieces another board was formed in 
1866, with the pioneer insurance man of Chicago, Gurden S. Hubbard 



54 Chicago Life Insurakcb Club. 

of the iEtna as president, and J. Kearney Rodgers as secretary and 
surveyor. 1q 1861 this organixation was duly iacorporated by the 
legislature as the Chicago Board of Underwriters. 

Following the great lire, the board was reorganized February 22, 
1872, with 8. M. Moore as president, Gen. A. C. Ducat, vice-president, 
J. Goodwin, Jr., treasurer, and Alfred Wright, secretary. The career 
of the board was undisturbed until 1880, when, because of violent in- 
ternal dissensions, a number of members withdrew, and on January 27 
started a rival organization to which they gave the name of the Un- 
derwriters Exchange. The first officers were Robert J. Smith, presi- 
dent, William E. Hollo, vice-president, and R. N. Trimmingham, sec- 
retary. The two bodies continued their labors on parallel lines for 
five years, sometimes in harmony, but more often in hostility, until 
in 1885, after repeated efforts, a union of forces was effected. A new 
organization was created, the Chicago Fire Underwriters Association, 
and into this the Exchange was merged and ceased to exist. The 
board members also became members of the association, but the board 
of underwriters was continued, shorn of all its executive powers ex- 
cept that of supervision of the fire patrol. This was done to comply 
with the state law, which authorized the organization of the fire 
patrol. At the annual meeting of the board, held January 7, 1892, the 
officers elected were as follows : R. W. Hosmer, president ; Frederick 
S. James, vice-president ; J. U. Moore, treasurer, and T. A. Bowden, 
secretary. 

Chicago Firo Underwriters^ Association was orgaaiied Im 18B5. 
*rSee Chicago Board of Underwriters.] It ham Uie sapervision of the 
fire insurance business in Chicago and Cook county. At the annual 
meeting January 14, 1892, tbe following officers were elected : 
President, James Ayars ; Ticepresident. C. R. Hopkins ; secretary, R. 
N. Trimmingham ; tnasurer, O. W. Barrett ; superintendent of sur- 
veys, T. A. Bowden. The present officers elected at the annual meet- 
ing, Jannaiy 12, 1893. are the same except that S. A. Rothermel is 
vice-president. The trustees are James Ayars, 8. A. Rothermel, O. 
W. Barrett, Thomas Goodman, and Robert J. Smith. The following 
are the standing committees : 

^miw<^ — Kdward M. Teall, John Critchell, Stanley Fleetwood, S. A. ITanrey, E. E. 
Barnard. 

IfUfpectUm — John J. Janes, Frank P. Sheldon, H. J. Ullman, M. J. Naghten, Carl 
Hanckc'. 

Patent Device — O. E. Affcld, A. W. Peck, Clarence Pellet. 

Cook County Compact — i:h&T\et^ W. Drew, CM. Rogers, A. H. Darrow, P. P. 
Fisber, W. U. Marsh. 

Cliicago insurance company of Chicago, 111., was licensed to do 
business by the Illinois auditor of public accounts October 26, 1892. 
The company's capital was $100,000, and its first officers Charles Coun- 
cilman, president, and J. I. Rardon, secretary. 

Chicago Life Insurance Cinb was incorporated in 1892 and opened 
in May, 1893, its primary purpose being to provide a place of entertain- 
ment and social intercourse for life insurance men of other pktces vis- 
iting Chicago during the World's exposition. The club apartments 
were establislied on the seventh floor of the Masonic Temple. A cafe 
and dining-room were attached. The means for establishing the club 



Digitized by 



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Clark, William B. 55 

were provided by the life insurance companies. The officers are: 
President, Ben. Williams ; first vice-president, C. H. Ferguson ; 
second vice-president, W. N. Sattley ; secretary, J. A. Spicer ; treas- 
urer, C. A. Weidenfeller. 

Chieagro Life Underwriters' Association. [See Life Underwrit- 
ers' Association of Chicago.] 

Chicago Mataal Life insurance company was organized for busi- 
ness December?, 1892, by the election of £. R. J. Bennett as president, 
J. O. Curry, treasurer, F. N. Pitman, secretary. The capital was 
$100,000. A number of prominent Chicago busmess men backed the 
enterprise. 

Cincinnati Board of Fire Underwriters: At the annual meet- 
ing in December, 1892, Captain Samuel J. Hall, president of the Qlobe, 
was chosen president ; Francis II. Cloud, local agent of the Phcenix 
of Hartford, vice-president, and Charles Marshall was re-elected sec- 
retary. 

Cincinnati Life Underwriters* Association was organized De- 
cember 16, 1890, the first officers being : Charles £. Logan, president ; 
M. J. Mack, vice-president ; S. M. Brandyberry, treasurer ; Frank M. 
Joyce, secretary. At the annual meeting in 1892 the officers elected 
were : J. W. Iredell, Jr., president, and R. D. Woods, secretary. 

Citizens insurance company of Cincinnati retired from business in 
January, 1892, its risks being re-insured by the German-American of 
New York. It was organized under a special charter October 1, 1871, 
with $100,000 capital, and had done a limited agency business. In 
June, 1892, persons at Toledo, O., secured the charter of the company, 
and began reviving and issuing policies, with Frank Hart, as president, 
J. R. £lderkin, as secretary. Subsequently it was bought by an 
alleged English syndicate represented by George E. Bobbins, who is 
manager. It does a ''surplus line " business, 

City of London insurance company of England retired from busi- 
ness in the United States, except in Texas and on the Pacific coast, 
January 1, 1892. It also retired from business at home later, the 
Palatine of Manchester re-insuring all its risks there and in the 
United States. 

Clarke, L. Walter, assistant secretary of the Connecticut Fire 
insurance company, was born on a farm in Cornwall, Conn., which he 
left to engage in mercantile business in 1856. Nine years later he be- 
came specif agent for the Home of New Haven. In 1871 he was 
elected vice-president of the Enterprise of Philadelphia, ^hich was 
shortly afterwards burned up in the Chicago fire. During a part of 
years 1871 and 1872 Mr. Clarke represented the Springfield Fire and 
Marine as special agent, and resigned to become president of the Meri- 
den Fire, with which company he remained until 1881, when he joined 
the Connecticut, as assistant secretary. 

]iark, William B., was elected president of the JStna insurance 
company of Hartford, November 80, 1892, to succeed the late Jotham 
Goodnow. Mr. Clark was born at Hartford in June, 1841. When six- 
teen years old he entered the office of the Phcenix insurance company as 
bookkeeper, and he remained with that company eleven years, the last 



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5tf CO-INSURANCE ClAUBB IN FiRB UnDBRWRITINO. 

four as iU secretary. Mr. Clark joined the iStna in 1868, as assistant 
secretary. He wan elected vice-president in September, 1888, and suc- 
ceeded Mr. Qoodnow as president in 1892. 

Clereland Life Underwriters Association was organized in 
May, 1889. The original officers were : F. A. Kendall, president ; 
J. W. Lee and W. B. Uillman, vice-presidents ; J. C. Trask, secretary ; 
O. N. Oimstead, treasurer. At the annual meeting of the association. 
May 7, 1898, officers were elected as follows : President, W. M. Wood- 
ruff of the Manhattan ; vice-presidents, H. W. Power of the Travel- 
ers, and M. A. Marks of the Northwestern Mutual ; secretary, 8. 8. 
Saffold of the Provident Life and Trust ; treasurer, O. N. Oimstead 
of the National ; executive committee, R. D. Bokum of the New 
York Life ; C. E. Holt of the Mutual Benefit ; Dr. C. A. Lawton of 
the Mutual Life ; J. M. Crane of the Pacific Mutual, and J. W. Ells- 
worth of the Union Mutual. At the annual banquet of the associa- 
tion. President Woodruff presiding. Rev. Dr. Thwing. Vice-President 
Scott of the Equitable Life, Col. Ransom of Boston, Gen. M. D. Leg- 

£jtt. Dr. H. J. Herrick, T. M. Irvine, S. S. Saffold of the Provident 
ife and Trust, John A. Finch of Indianapolis. ex-President Tilling- 
hast, and Capt. F. A. Kendall, made speeches. The present officers of 
the association, who were elected May 6, 1893, are : F. A. Kendall, 
president; Dr. C. A. Lawton, vice-president; R. I). -Bokum, second 
vice-president ; Charles E. Holt, secretary ; O. N. Oimstead, treas- 
urer ; Frank 8. Ford, John Thomas, M. A. Marks, J. C. Trask, and 
8. 8. Safford, executive committee. 

^» dunes, James, manager of the fire department of the London 
Assurance Corporation at the home office, is a native of Scotland, and 
about 46 years of age. In 1861 he entered the Edinburgh office of the 
Alliance, and serving an apprenticeship there was transferred to the 
foreign department in London, where he remained some years. He 
was then sent to Scotland as chief clerk and surveyor, was afterwards 

, made the company's manager in Scotland. In 1881 he was appointed 
sub manager at the head office of the Commercial Union, and this was 
succeeded by his appointment as manager of the fire department of 
the London Assurance. 

Co-Insurance Clause in Fire Underwriting : The eighty per 
cent. CO insurance clause was ordered on all rated risks in the metro- 
politan district by the Tariff Association of New York [which see], 
on April 21, 1892. It went into force in Philadelphia concurrent with 
an advance of twenty per cent, in rates on all rated risks, May 24. 
[See Philadelphia Fire Insurance Rates.] On June 10, in Chicago 
and Cook county, it was made to apply to all rates "except those 
covering on rents, leaseholds, dwellings, household furniture, buildings 
occupied for flats and bams within the territory mentioned, and except 
buildings occupied for stores on the grade floor, and for dwellings, pri- 
vate boarding houses, and halls without scenery, with their contents, 
(except stocks which are subject to 80 per cent.), in the district south 
of Harrison street and north and west of the Chicago river." 

The clause went into effect in Detroit, July 15, Milwaukee, 
November 16, and Newark, N. J.. December 1. It was adopted 
by the Boston Board of Fire Underwriters, November 8, on all risks 



ioogle 



Co-Insurawcb Clause DepineI). St 

except those not specifically rated and such as demand a larger per- 
centage of insurance than eighty per cent. The form prescribed was 
as follows : 

It is a part of the consideration for this policy, and the basis upon which the rate 
of premiam is fixed, that the assared shall maintain insurance on the property described 
by Ibis policy, to the extent of at least eighty (80) per cent, of the actual cash value 
thereof, and that failing so to do, the assured shall be an insurer to the extent of such 
deficit, and to tbat extent shall beiar his, her, or their proportion of any loss that may 
happen to said property. Provided, however, that in the adjustment of any loss or dam- 



age oy fire on stock or merchandise, no inventorv for the purpose of ascertaining the 
application of the foregoing clause shall be required, unless the amount of damage is 
at least five (6) per cent, of the amount of insurance on such stock or merchandise. 



The New England Insurance Exchange followed by the appli- 
cation of the eighty per cent, co-insurance clause, on certain risks, in 
all places within its jurisdiction on December 3. [See New England 
Insurance Exchange.] The application of the clause created, among 
a part of the insured in many places, considerable dissatisfaction, 
which was fostered by the daily press, but this was the result of mis- 
understanding, and a better feeling prevailed when the nature and 
operation of the clause was explained. 

THB CO-INSURANCE CLAUSE DEFINED. 

What is known in the United States as " co insurance " has been 
common to marine underwriting under the name of "average," from 
the earliest knowledge we have of insurance. The principle Involved 
is tbat of a common peril shared by all interested. If any portion of 
a cargo was jettisoned in order to save the rest, or if the whole cargo 
was thrown overboard to save the ship, all whose interests were im- 
perilled contributed to make ^ood the loss. In fire insurance the 
principle is applied to all policies issued in France, Belgium, Germany, 
and Russia. It is used in fioating policies in the United Kingdom, and 
in English policies in Egypt, India, China, and Japan. It has been 
used in a desultory fashion in the United States, at different times, but 
it is only within the year that a serious attempt has been made to ap- 
ply co-insurance universally to fire insurance policies in this country. 

The principle is that the entire property at risk should bear the bur- 
den of the loss of any part of it. That can only be done when the 
property is either fully insured or is totally destroyed. The co-insur- 
ance clause is only operative in partial losses, which are a large per- 
centa^ of the fire losses. In these cases the owner contracts that he 
will either carry insurance to the limit required, or himself become a 
CO insurer for the deficiency. Without this clause the underwriter can- 
not intelligently rate any risk. Property worth ten thousand dollars 
and insured for ten thousand dollars is a very different risk from the 
same property insured for one thousand. In the one case the destruc- 
tion of one-tenth of the property means a ten per cent, loss, and in the 
other case it means a total loss. The two risks cannot properly be 
written at the same rate because they do not involve the same hazard. 
The effect of the universal application of the principle would be that 
the amount of insurance would be somewhat increased, the premium 
rate would be reduced, while rates would be equalized as between the 
owners who have heretofore carried partial insurance and those who 
have carried full insurance. For some reason, which it would be difli- 
cult to explain, except upon the hypothesis that the property-owner 
4 .,..,..... ^.^ 



58 Colorado Insurance Report. 

does not know the exact yalue of his property, but that he ought to be 
able to guess within a named percentaore of it, the clause which is now 
coming into quite general use in the United States, is known as the 
"percentage coinsurance clause," and in the standard forms of 
policies reads : 

If at the time of Are the whole tmoont of Inturmnce un the property corered by 
this policy shall be leM than per cent, of the actaal cash raiQe thereof, this 

company shall in caae of loss or damage be liable for only such portion of soch loss or 
damaf^e aa the aoMunt insared by this policy shall bear to the said per cent, 

of the actual cash value of soch property. 

The French clause translated reads : 

If at the time of a Are the valne of the objects corered by the policy Is found to 
exceed the total of the insurance, the assured is considered as haring remained his own 
insunir for that excess, and he is to bear in that character his proportion of the loss. 

The German clause employed is : 

If in case of a Are the Insared oblects should exceed the sum insured, and they 
Hhoukl be partly saved, the aiwured will be considered as self-insarer for the excess, and 
in to bear his shan; of the Ions pro rata. 

The use of the coinsurance or average clause, was made obligatory 
in Qreat Britain on floating policies, in 1828 (see Walford's Cyclopedia), 
but the clause adopted was a long one. It can be found on pages 
232-3, vol. L 

Coit, George M., assistant manager of the Royal insurance com- 
pany of Liverpool, at the New York branch office, was born at New 
Bedford, Mass., July 8, 1838. His first acquaintance with active busi- 
ness was as a clerk in a Fall River bank, to which he added a like 
experience in a Hartford bank. In June, 1864, he was appointed sec- 
retary of the Hartford Fire insurance company and served until 1870. 
when he was translated to New York city to represent the company 
and other Hartford companies there. In January, 1889, the metropol- 
itan department of the Hartford Fire was established, and he was 
appointed its manager. On November 1, 1891, he accepted the appoint- 
ment to the Royal. Mr. Coit was president of the New York Board 
of Fire Underwriters in 1888 and 1889. He is a vestryman of Trinity 
church. New York. 

Coke, OctRviiis, secretary of state of North Carolina, having 
supervision of insurance, is a native of that state and was born 
October 4, 1840. Mr. Coke Is a lawyer by profession and likewise 
cultivates a farm. He has been state senator and chairman of the 
Democratic state committee. 

Colling, C. B», state treasurer of Florida, having supervision of in- 
surance, was born at Jackson, Miss., January 11, 1849. Mr. Collins 
was for some years a banker in Texas, but he removed to Florida and 
is now a fruit grower in that flourishing state. He is a prominent 
party man and was elected state treasurer in 1892. 

Ciilorado Insarance Report for 1892. The tenth annual report 
of the superintendent said that the fire insurance companies admitted 
to the state in 1892 were the Albany, Alliance of New York, Alliance 
of London, Balois of Switzerland, Svea of Sweden, Palatine, Meriden 
Fire, Delaware, General of London, and Queen of New York. Twenty- 
five companies withdrew or were dismissed. The Commercial Alliance 
of New York was the only life company newly admitted. 

.,__/Google 



Columbian Pire tNSTTRANCB Company. 59 

The text of Superintendent Henderson's report was principally 
given to a statement of the facts in the controversy between the insur- 
ance department and the state treasurer backed by the state attorney- 
general. Deputy Superintendent Hurd made an examination of the 
Rnoxyille Fire insurance company in its home office in Tennessee and 
in conformity with the custom which had obtained from the founda- 
tion of the insurance department, presented a bill for his expenses to 
the state treasurer. That official refused to pay it and produced the 
opinion of the attorney-general that the insurance superintendent had 
no authority to examine the condition of a company outside the limits 
of Colorado. The superintendent thought this view of the law was 
absurd, since it would, if enforced, effectually prevent the examina- 
tion of any non-state company doing business in the state, by the de- 
partment. To settle the matter the superintendent applied to the dis- 
trict court at Denver for a writ of mandamus against the state treas- 
urer, requiring him to pay Mr. Hurd's bill. Judge Graham in an 
elaborate opinion upheld the superintendent and granted the writ. 
Then the defendant appealed to the court of appeal, where the case 
rested for the present. 

The receipts of the department during the fiscal year were $42,791 
and the expenditures $11,894. 

Colorado Insurance Saperrision in 1SS8-1S98. The state in- 
surance department of Colorado was organized in April, 1888, the state 
auditor, who is elected for two years by the people, being charged 
under the statute with the duties of supervision as superintendent of 
insurance. The term of office is for two years. The superintendents 
have been: 

John C. Abbott, 1883-1885 1 Louis B. Schwanbeck 1889-1891 

Hiram A. Spruance, 1886-1887 John M. Henderson, 1891-1893 

Darwin P. Klngsley, 1887-1889 I P. M. Gkxxiykoontz, 1893- 

The deputy insurance commissioner is Qeorge M. McConaughey. 

Colambla Life assurance company of Providence, R. I., was 
organised and began business in 1892, on the level premium plan. 
The oi^anizers were Dunham & Trafford, the Rhode Island general 
agents of the Equitable Life. The incorporators were J. £. Golds- 
worthy, Henry L. Trafford, Allison W. Trafford, Fred L. Sawyer, 
Thomas R. Burrell, John S. Cranston, and Everett A. Dunham. The 
capita] was fixed at $100,000. On May 21, 1892, the organization 
was completed by the election of Everett A. Dunham as president, H. 
Lester Trafford, vice-president, and Thomas R. Burrell, secretary. In 
March, 1898, the persons controlling this company purchased a con- 
trolling interest in the Commercial Alliance Life insurance company 
of New York. 

Colnmbian Fire insurance company of Louisville was the crea- 
tion of A. W. Hart of that city, who secured the support of a number 
of prominent business men in the enterprise, it being agreed that it 
should be a non-board company. The original design was to have a 
large capital, but, this being difficult to raise, the sum of $200,000 was 
finally fixed upon. Insurance agents in other places were induced to 
take stock on the promise that they should be its representatives. 
Organization was effected October 20, 1892, and the following direc- 



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60 CoMPAKisB OF Uncertain RsspoNSiBiLrrY. 

tors were chosen : James Brown, auditor of New York Life insurance 
company ; John McAnernej, president of the Seventh National bank, 
New York ; Elliot C. Butler, of Bell & Butler, New York ; Bruce 
Haldcman, Judge W. P. D. Bush, J. A. Zanone, and A. W. Hart, 
Louisville ; 0. B. Sullivan, Harrodsbure ; M. L. Domus, CarroUton. 
Officers were elected as follows : President, Judge W. P. D. Bush ; 
vice-president, J. A. Zanone ; general manager, A. W. Hart ; secre- 
tary, Henry W. Gray, Jr.; assistant secretary, H. R. Bush. The com 
pany began business in Louisville and a number of states on January 
1, 1893, entering other states later. 

Colambns, Oa., Life Underwriters Association. [See Life Un- 
derwriters Association of Columbus.] 

Commissioners andSopcrintendents of Insurance, List of. [See 
Insurance Departments and also National Insurance Commissionen>' 
Convention.] 

Commissions* Association, Fire Underwriters. [See Fire Un- 
derwriters Commissions' Association.] 

Compacts, State Laws Against. [See Anti Compact Laws.] 

Companies, Fire, Organized in 1892. 

COMPAXIEB. PjW^P 

Columbian Fire, Lonisvflle, f ^3(X),000 

Iowa Plre, Dee Moinea, SS.OtJO 

Rntland Fire, Rutland, Vt., 100,000 

Total, $825,000 

The Chicago insurance company, with |100,000 cash capital, filed 
papers and elected officers, and there were rumors of a Commercial Fire 
of Chicago, with $200,000 capital. In Virginia the German American 
Fire insurance company of Richmond, with "a maximum capital" of 
$100,000, was chartered, and the Old Dominion Fire insurance com- 
pany of Portsmouth, with $100,000 capital, was " mentioned/' 

Undoubtedly the most important venture of the year outside of the 
joint stock circle was the Assurance Lloyds of America, which has 
been started by Beecher, Schenck & Co. [see Lloyds J. The Atlas 
Mutual of Boston, organized last year, began business in April of this. 

Three companies which reinsured their business in 1891 or 1892 
resumed taking risks — the Exchange Fire, and New York Fire of 
New York, and the Citizens of Cincinnati. 

Companies of Uncertain Responsibiiity. The following fire 
insurance companies, engaged in " underground" practices, were de- 
nounced as irresponsible by state insurance departments or the press 
during 1892 : 

Alabama Fire, Florence, Ala. : Continental, Memphis, Tenn. 

Atlaa F. and M., Hernando, Miss. Crescent, Cleveland, O. 

Central Ohio, Toledo, O. , Davenport Mutual, Davenport, la. 

Charleston F. and M., Charleston, W.. Va. District, Harpers Ferry, W. Va. 

Citizens, Cincinnati, O. Empire Fire, Huntington, W. Va. 

Citizens, Toledo, O. [ Falrmount. Philadelphia. 

Columbian National, Philadelnhia. Farmers and Mechanics, Washington, D.C. 

Columbia F. and M., New Albany, Miss, i Farmers and Mechanics, Alexandria!, Va. 

Commercial, MiHsissIppi. j Farmers and Mechanics, Mlnersbarg, Pa, 

Commercial, Memphis, Tenn. I Franklin. South Dakota. 

Commonwealth Fire, Montgomery, W- Va. . Qerman-American, Richmond, Va. 



OOHNBCTICDT InBURAKCB ReFOBT. 01 



Palmetto, Columbia, S. C. 

PenDBylvaiiia Mutual, Columbia, Pa. 

Protection, Charleston, W. Va. 

Reliance, Berkley Springs, W. Va. 

Beserve, Cleveland, O. 

Safety Mutual, Sioux City, la. 

Sandusky, Toledo, O. 

SUteof Virfflnia, Alez4ndrla, Va. 

Steedman, Toledo, O. 

Susquehanna Mutual .Harrisburg, Pa. 

Traders, Charleston, W. Va. 

United States, Charleston, W. Va. 

Undem'riters Mutual, Sioux City, la. 

Washington F. and M., Charleston, W. Va. 

Washington Union, Cleveland, O. 



German Exchange, Martinsburg, W. Va. 

Oloucester, Gloucester City, N. J. 

Home, n in ton, W. Va. 

Home, Tiffin, O. 

Imperial, Calcutta, India. 

Industrial, Harpers Ferry, W. Va. 

Interstate Fire, West Virginia. 

La Prevoyante, Bordeaux, France. 

Liclia Exchange, Martinsbnrg, W. Va. 

Lambermen's, Berkley Springs, W. Va. 

Metropolitan, Charleston, W. Va. 

Morotock, Danville, Va. 

National, Weston, W. Va. 

National Mutual, Council Bluils, la. 

National of North Carolina. 

Northern Mutual, Toledo, O. i Western, Toledo, O. 

Old Dominion. Portsmouth, W. Va. Wytheville, Wytheville, Va. 

Ohio Valley, Huntington, W. Va. | 

Connecticut Insnrance Report for 1892. Part I reported the 
admission of the following companies to the state in 1891 : St. Paul 
Grerman, Union of London, Broadway of New York, Mercantile of 
Boston, Queen of New York, Teutonia of New Orleans, United States 
Guarantee, New York Plate Glass, New Jersey Plate Glass, and the 
Sea of Liverpool, a marine company. Seven companies withdrew. 
Itegarding the great increase in fire losses Commissioner Fyler said : 

The rvmedy for this enormous fire waste it is difficult to determine; volumes have 
been writt<?n on the subject without diminution of the fire loss. The commissioner is of 
the o|>iuion that one of the most prominent evils connected with the business is that of 
ov(;r-msurance, effected largely through those who have nothing at strike in the risks 
assumed, but nnxious only to secure commissions thereon. It is estimated, and per- 
haps not unfairly, that thirty-three per cent, of the fires are directly or indirectly the re- 
Huft of incendiarism, either bv design or by Uidirection. If the truth could be known, 
the proportion of incendiary flres would be found enormously large. Considerations of 
tliis character have prompted the suggestion by underwriters and others, that the aS' 
Hured thems(*lve8 should assume a proportionate part of their own loss by fire, as is the 
case in m»ny of the mutual companies at present. If th(;re was a divided risk in all 
cases, the insured taking a greater degree of responsibility and care in guarding bis 
property against the possibility of a Are, a large reduction would be eflvcted in the 
annual Are loss. Perhaps this is best illustrated by the experience in New Hampshire. 
After the passage of the valued-policy law all foreign com))anie8 retired from the state, 
and the entire Insurance was effected through domestic companies. 

It is fair to presume that, with the limited num))er of companies in the state, over- 
Insarance was not a crying evil of the time. From statistics taken from the last an- 
naal report of the commissioner of New HHm))shire, I find there were |)uid in losses 
for the four vears preceding tlie passage of the valued-ix)licy law, the sum of $1,914,420, 
and for the four years Immediately following, the sum of $730,111. In round numbers, 
the risks written in the latter period e.xceed(Mi the former by fifteen million dollars. 

In reference to the deposits of foreign insurance companies the 
connnissioner said : 

Section 8845 of the general statutes provides : 

No foreign insurance comt)any shall take risks in this state unl(>ss it has a cash 
cnpitiil of two hundred thousand dollars, and shall have made a deix>sit with the treas- 
urer of this state, or with the projier officer of some other state, ot not less than two 
hundred thousand dollars in the bonds of this Ptjiti*. or of the state of New York or 
Massachusetts, or in bonds or nubile stocks of the uniu-d States, in trust for the ben- 
efit of its policy-holders in Ihc United States ; and no policy issued by such company to 
any citizen of this state shall be invalidated by the occurrence of hostilities between the 
government of the United States and the government under the laws of which it was 
oiganixed. 

This statute was enartJ**! when the bonds thiTeIn enumerated were not difficult to 
oUtuin, and they commanded but little, if auv, premium, and th(> rate of interest was 
^Htl<factory. At the present time two of tfie stalt* in the list have no outstanding 
b<;r !.••, the third has re<luced its iH<«iie by al>out one-half. Thv. rapid payment of obliga- 
lions by the United States has reduced that class of securities to less than half of its 



ogle 



92 OoNNBCTicnr Life Under writbrs' Association. 

original tHHue. The demand for f^vomment l)ondB bjr tnisteefl of e8tate«, national 
baiilcK. indivldiialH, and corporatioim, who reciitfreHeciiritieti oasy of conversion, renden^ 
thii* rlaMn of bonds difllcult to obtain at any Batinfactory rate of iutereet. If the pre- 
mium demanded be taken into account, together witli the final loae at maturity of bond, 
the rate of intoret<t realized will be less than three per cent 

The commissioner recommended that this section of the statute be 
amended so as to admit of a wider ran^e of securities which com- 
panies from foreign countries may deposit for the protection of their 
policy-holders in the United States on entry into this state. 

Part II reported no withdrawal of life and casualty insurance com- 

Sanies from the state in 1892, and the admission of two companies, the 
[ew England Mutual Life and the Maine Benefit Association. The 
commissioner denounced the endowment assessment associations and 
criticised adversely the growing practice of some large companies of 
doin^ business in foreign countries. [See Life Insurance Companies. 
Foreign Business of.] On this point the commissioner said : 

It may not be untimely to ffii^gv^eit that in Uie interest of Round Intmrance 1aws>, 
leKit>lation will be requirtx! limiting the trannactionB of American companies to the 
healthy [K>rtionM of the Americiin continent, and at the most to thoae foreign oonntritti 
whfre the law of mortality in well ei«tabll»hed iii)on reliable data. The practice that 
now prevailH of churj^iiig an extra premium in sucn conntriei* as can funiimi no reliable 
mortality tablen, in onier U) meel the extra dctith raU* witliout incurring at the Mune 
time an additional rewrve to meet Mich additional liability, is not in accord with piod 
insurance lawn, nor in it batHti upon correct iiiHiiraiice principles. The advantage to be 
derived to the home iwlicy-holdkT iu an American com{>any writing fonngn btisineiw, 
and ettiM-ciallv a butiineKH concluct4'<i on the mutual principle, has not yet bc<*n t«tisfac- 
torily itointed out. An advert; exi>erience in countries where a reliable; mortality table 
iH not extant might »(>riouHly encroach u|)on the finrplu8, and by reducing dividends 
raise the cost or the iuHurance. The preHnm)>tion, to say the least, is not in favor of 
the foreign businet>s. BMnally, is not u\e North American continent a reasonable and 
safe rielcT in territory, in mortality es|M'rience, and safe investment^ for the display of 
the combined enterprise of tfie .\niericun life insunmce companies ? 

The receipts of the Connecticut insurance department for the fiscal 
year ending June 80, lb91, were |;51.862 and the paymenU $16,994. 
In twenty-one years the department had received (506,871 more than 
its expenditures. 

Connecticnt, Insaraiice Snporvision in, 1865-1898. The insur- 
ance department of Connecticut was established by law July 19, 1865, 
the insurance commissioner being appointed by the governor for three 
years. The commissioners have been : 

Benjamin Noves, ...... Aug. 23, 1866. 

George S. MilUr July 97, 1871. 

John W. Stc<lniaD, ..... July Sfr, 1874. 

John W. Brooks, July 27, 1880. 

Ephraim WiiliaiiiH, ..... July 1, 1883. 

(). It. Fyler aj)pointed during recess of the legislature, July 1, 1886. 

(). K. Fyler, for a term of four years, . July 1,1887. 

O. U. Fvler, to Illl vacancy during reci-ss of legislature, July 1. IHDl. 

John S.* Seymour, ...... March 8, 1893. 

Burton Mansfield, ...... April 11, IS'J.'i. 

Joseph U. Sprague is actuary, and Theron Upton chief clerk of the 
department. 

Connecticut Life Underwriters^ Association was organized 
October 27, 1890. [For a full account of the first meeting and organiz- 
ation of the association, see the Cyclopedia for 1890, page 36.] The 
orticers elected at the annual meeting at Hartford, February 2, 1892. 
were : President, A. 11. Bond of iiartford'; firat vice-president, H. A. 



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CoNHKcncuT Mutual Life Insurance Company. 63 

Tyler of Harlford ; second vice-president, Eli D. Weeks of Litchfield ; 
wcretary, P. A. Thompson of Hartford ; treasurer, A. T. Richards of 
Hartford ; executiye committee, Alexander Harbison, Joseph Schwab, 
J. L. Denison, L. H. Tryon, and H. E. Harrington, all of Hartford 
except Mr. Tryon. At the annual banquet held in Hartford May 6, 
following, President Bond presided. Addresses were made by Mayor 
Hyde of Hartford, President Allen of the Hartford Steam Boiler in- 
spection and insurance company. Actuary Sprague of the insurance 
department, J. L. Johnson of Springfield, W. L. Richards, Gen. Har- 
bison, Dr. Eli D. Weeks of Litchfield, and Dr. E. K. Root. The 
present officers of the association, who were elected March 22, 1893, 
are : President, Heman A. Tyler ; first vice-president, Eli D. Weeks ; 
second vice-president, J. L. Denison ; secretary, F. A. Thompson ; 
treasurer, A. T. Richards. The executive committee are : J. H. Lyon, 
Joseph Schwab, B. F. Ess, J. G. Rathbun, C. H. Bronson. 

Conneeticat Mutnal Life insurance company was chartered by the 
<3cueral Assembly of Connecticut at the May session in 1846, and its 
first policy was issued December 15 of the same year. The company 
began business upon what was known as the half-note plan, policy- 
holders holding the privilege of giving interest-bearing notes for one- 
half of each annual premium for the first four years, the notes to 
stand as a lien upon the policy. The company has been purely mutual 
from the beginning, giving policy-holders the largest measure possible 
of participation in the management. Its dividends were made at first 
upon the percentage plan, as were those of all other companies. 
Dividends were declared annually and paid three years after tlie de- 
claration. In 1864 this was changed, and dividends were declared and 
paid the fourth year after the issuu of the policy. In 1869 the dividend 
system as regarded policies, thereafter issued, was changed to the 
" contribution plan," and dividends were paid after one year. 

Since 1882 the new policies issued bear a reserve calculated on the 
American table of mortality with interest at 3 per cent., which m- 
creases the reserve $700,000. Valued at the legal standard (A.ciuary'3 
table 4 per cent.), the surplus would be increased to $7,128,176. The 
assets and liabilities in detail are: 

ASSETS. 

Loans upon real eetate, first lien, ...... $86,444,759.03 

Loans apon stocks and bonds, ...... 3K,282.50 

Premlnni notes on policies In force, ..... 1,464,376.04 

Cost of real estate owned by the coimmny, .... 6,791,381.01 

Cost of stocks and bonds owned by ine company, 12,967,687.43 

Cash in Bank, 1,840.007.99 

Bills KeceiTable 961.75 

Interest accrued and due, ....... 947,536.91 

Rentii accrued, . ... 7,011.91 

Market value of stoclcs and bonds over cost, .... 603,136.07 

Net deferred quarterly and semi-annual premiums, 166,489.96 

$60,761,550 
LIABILITIES. 
Amount required to Insure all outstanding policies, net, 

company's st4Uidard $53,807,047.00 

All other lUbOities, 1,037,573.01 $54,384,630 

Surplus, ....... $6,426,980^ 

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64 CONTINKKTAL INSURANCE COMPANY. 

Kkckivki) in 188S. 

For ptt'DfiiiiiTiH. ...... $4.G2i,203.S8 

For intcri!p( and rcnlii, ..... 8,168,070.69 

Profit and low 94,642.71 S7.8&4,916.73 

DlftBUIWED IN 180S. 

To policy-holders: 

For claims bv death, ..... $3,744,984.75 

For matured endownientfi. .... 423.198.00 

Surplus ret amed to t.dlic.v-hnlden*, . . 1.223,61<6.14 

Lapsed aiid surrendiTcd i)olici« t*, 566,318.89 

Total paid policy-holders $5,957,099.78 

ExpentH's: 

Salaries and comniit^ions to asrnis, . 854,262.34 
Salaries of offleers, clerkf, and all others employed 

on salary, 138,003.17 

Medical examfners' fees, .... 25,421.53 

Printing, adveriihing, legal, real estate, and all other 

ex(K>nM>s, ...... 280,368.56 

Taxes, 300,160.49 $7,055,315.87 

BUMVART. 

In the forty-sevea years of its existence the Connecticut Mutual has 

Received for premiums, ..... $173,386,966.66 

Kccelvwl for inU-rest and rents, .... 70,907,(580.23 

Received for balance profit and loss, 1,143,073.37 

Total receipts, $246,436,720.25 

It has 

Paid out for death losses and endowments, 85..54'<,R73.87 

Paid out for dividends, fASftir.Ma.aO 

Paid out for surrendered policies, .... 21,131,447.o3 

Total paid policy-holders, $157,607,861.60 

Expenses, 21,143.611.94 

Taxes, 7,617,850.97 

Total disbursements, 186,389,324.51 

Balance, net assets, January 1, 1803, . $59,087,895.74 

The amount already returned to policy-liolders or their beneficia- 
ries, and the net assets held to protect present contracts exceed the 
entire premiums received by $48,259,290.69. The expense ratio is 8.61 
per cent. This record has no equal elsewhere. 

At the close of 1892 the Connecticut Mutual had in force 65,557 
policies, insuring $157,787,802. 

Directors. — Henry C. Robinson, Thomas Sitson, Jacob L. Greene, 
Frank W. Cheney, William B. Franklin, Edward M. Bunce, James J. 
Goodwin, Charles M. Beach, John M. Taylor, Charles J. Bishop, 
James A. Smith, William C. Skinner. 

Officers. — Jacob L. Greene, president; John M. Taylor, vice-presi- 
dent; Edward M. Bunce, secretary; Daniel H. Wells, actuary; John 
D. Parker, assistant secretary ; Charles Hildebrand, assistant actuary; 
George R. Shepherd, M.D., consulting physician; Elisha Risley, super- 
intendent of agencies. 

Continental insurance company of New York. At the annual 
meeting, January 14, 1892, F. C. Moore was re-elected president. 
Henry Evans was elected vice-president, E. Lanning, secretary, W. A. 
Holman, assistant secretary, and Cyrus Peck, treasurer, the latter de- 



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Continental Life Keceiyershif. 65 

dining a re-election as second yice-president. The company was, 
June, 1892, re-admitted to membership in the National Board of Fire 
Underwriters. It had been outside the organization, of which it was 
one of the founders, ten years. It withdrew in 1882 because the board 
declared " that a strict, unswerving adherence to 'the fifteen per cent, 
commission rule ' be considered an absolute condition of membership 
in this board." 

ContlnentRl Life Beeelyership : The following statement, of the 
date of June 13, 1898, regarding the status of the receivership of the 
Continental Life insurance company of Hartford, was prepared for the 
Cyclopedia by Messrs. Lorrin A. Cooke and John R. Buck, receivers of 
the insolvent company : 

At the date of the insolvency pr(>cccdln^ againint the Continental Life insurance 
cominny, and oar appointment as receivere, the quick anHcts of the company confiBtc-d 
of Connecticat State BomlH, $30,000 ; a flrnt mortga^ on the property of Sharps' Rifle 
company of Bridfpcport, Conn., for $62,600 ; and a first mortgage upon property in 
WUHmantic, Conn., for $16,000. 

ThfHC had been deponiu-d with the state trea^^urer of Conn, to constitute a fund of 
$100,000, for the «icnrity of policy-holders, as required by the statute. 

The pro|)erty which came into our hands was made up, for the most part, of shan>8 
of stock in the'Utic^ Cement Manufacturing Co. of La Halle, 111.; and certAin notes 
given for unpaid snbwriptions to the capittiT stock of the Continental Life insurance 
company. The cement stock was under atttichmeiit in at least a half dozen Huit« pend- 
ing against the company in different localities, and a large number of shares, in which 
I he estjitc niieht have an equitable interest, were pltKiged to local banks as security for 
advances to tne insurance company amounting to netirly $46,000. 

Soon after our appointm<'nt the care of the Sharps' Rifle Company's property at 
Bridgeport was placed in our hands by the officers of that company, ana by consent of 
the state treasurer. We found the taxes in arrears for several years, and in order to 
get the property in condition for sale we were obliged to pay liens for taxes, fire insur- 
ance, etc., to a large amount. Meantime we secured tenants for the property and, after 
long negotiation, succeeded in finding a cash purchaser at $90,000. The proceeds of this 
sale wer(> tumid over to the state treasurer in retiring his mortgage, and the balance, 
after payment of taxes, insurance, etc., was applied In the retirement of the lien upon 
the stock of the Uticn Cement Company, hela ny local banks. 

We have also sold the Willimantic property upon which the state treasurer held a 
mortfnge of $15,000 and have paid the amount of that mortgage to the Treasurer. So 
that toe assets of the estate at present consists of cash and bonds in state treasurer's 
hands, $107,500. 

The principal asset, in addition to above, upon which we have to depend for funds 
with which to make a dividend, is the stock of the Utica Cement Manufacturing Com- 
pany of La Salle, 111., of which the estate of the Conlincntul holds the controlnng in- 
tcpCHt. Pending a sale of the stock, which we have l)een endeavoring to arrange ever 
since we were aole to retire the liens upon it, we have l)een obliged to manage the prop- 
erty and conduct the business. Fnmi this source we have derived some income, which 
has partly been applied In n*tiring liens upon the stock and partly to the general im- 
provement of the proiK'rty, no that it might be readily marketed. 

W^e estimate the imnrovement of the estate from our handling of this matter in tliis 
way to be at \ea»t $40,000, which will benefit all of the creditors when the projxirty i* 
disponed of and the proceeds divided. 

The dividend which the estate may ultimately pay depends so largely upon the 
amount which may be realized in a sale of the cement property that, untif that asset is 
diaposi'd of, we are unable to make sngsestion as to the percentage. 

The general matters of the estate nMaling to claims, suits, etc., are in a satisfactory 
condition. We have secured the abatement or adjustment of all of the fifty-three law*- 
saits which were pending aeainst the company in eight stat4>s at the date of our appoint- 
ment. The examination of the claims of more than 13, (XK) persons (iwlicy-holders and 
others), under various contracts of the compuny has In^eu practically completed and 
the values of such claims deteritiincHl and schedurefl. One lawsuit which wjis begun in 
1801 is still pending, but we are hoping to si>e the conclusion of it without much further 
delav. 

This, in brief, is a numinary of our niatten*. While the creditors of the Continen- 
tal Life may lose heavily, we tliink the result of the administration of the affairs of the 
company has materially improved their prospects. The amount of the catate is being 

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66 Cotton, Hazard of, frou Fire. 

Pteadily increased by the income from the propertice and even the income t« so iDTCffted. 
vrhen received, as to eecare etili further increaflc. 

Respect fully, 

liORRIN A. COOKK, I n,^iw^w>< 

John R. Buck, J R^irtn. 

Cook, Andrew B., state auditor of Montana having supervision of 
insurance, was born at Dundee, Wis., February 2, 1864. rrevious to 
his election as auditor in 1892, Mr. Cook was a real estate broker at 
Missoula, Mont. 

Cook Counter Fire Underwriters AsHOciation was organized for 
Cook county, Illinois, l)y special agents, August 15, 1892. The officers 
elected were : President, 8. A. Witherbee, of the Orient ; vice-prosi- 
dent, E. E. Barnard, of Ducat, Lyon & Co.; secretary and treasurer, 
C. C. Chandler of the office of Fred. 8. James & Co. 

Co-operative Fire InHuranee Companies of New York and 

Kings counties, N. Y. During 1892 a swarm of these concerns 
appeared. They organized under the county co-operative law of the 
state, which was designed for the formation of small mutuals insuring 
farm property mostly, but these companies undertook to write on city 
mercantile risks. The names of several of these were as follows: 

World's C-o-operative Fire insurance company, it« main office* in Broadway. 
New York County (?o-o|x»r»tive Fire inmiriinre coni|Miny, No. 280 Broactway. 
Metropolitan Co-operative Fire inBurancc e«mipany. No. 63 Bowery. 
MnnuracturerB and Tradera' Co-operative Fire insurance company, Nois. 68 to 62 
Broadway. 

National Exchange CO'O|)0rative Fire inHiirance comptmy. No. 50 Broadway. 

Standani Co-operative Fire intturanee company, No. 415 Broadway. 

New York Home Co-operativo Fire infturance 'com)mny. Park Kow. 

New York County Co-operative Fire insurance company, No. 280 Broadway. 

Kqiiitablc Co-oi)erativc Fire inHurance company. No. 161 Broadway. 

Under instructions from the state insurance department, I>eputy 
Superintendent Shannon in October, 1892, made an examination of 
several of these companies. In his report he recommended the annul- 
ment of the charter of the World Cooperative Fire insurance com- 
pany. In reference to this class of companies, Mr. Shannon said: 

Tiiene companies are or);anized without capital, and are dependent on the admieaion 
fee and the a8Hew«nienfH for the payment** of lo«f*eH. 

Their orpuiizern are generally IIehrew8, who claim that many pereonp of their race 
are dlHcriminatcHl apiinHt by thr rejrular Are inniirancc conipaniea, being unable to 
obtain inKurance from tlieni for any nnioiint, and, therefore, orpmized them' companiefi 
under the county co-oporative law "for neeew»ary nelf prot<Ttion. 

There is no dou>)t a foun<lation for thi^* e'xrnse, and ho long as they confine their 
operations among thoi^e for whow protection tiiey are ohten}«!l>ly organizeitl and conduct 
tlie buplnesB honestly, it ia a quchtion whether prtxieedings Hhould be taken against 
them. Bnt if they nhould undertake to do a general insurance bniiincB8 on their iosiiffi- 
cient a(t8et«, there Hhould be no hesitation in applying to the courts for their dianolntion. 

Coroner Inquests upon CauKOS of Fires. [See Fire Prevention.] 
Cotton, Hazard of, from Fire, President Flower of the New Or- 
leans Cotton Exchange in a circular letter to the secretary of the treasury 
in February, 1893, presented statistics to show that out of twenty million 
bales of cotton received at New Orleans in the last ten years, only 
35,000 bales were partly damaged. He said cotton fire losses from all 
causes since 1882 were only $509,000 out of $1,000,000,000 of total 
value, equal to $1 in $2,000, and added : 

If wc talie tthipping or export value of the 19,610,063 bales received, it will not vary 
materially from one thoueand mill ions of dollarn. IvOHneH of $500,000 on that value 
would be only one-twentieth of 1 per cent., and ihit< in the face of Edward AtkixiBon'B 



Crane, John M. 67 

•tatemeot qnoted by the British minister and the secretary of the treasury at Washing- 
ton, that American cotton is treated more dangeroaaly than any other great staple of 
any kind or any other cotton in the world. Yon will observe that I have fdven the 
above Are losses in this port on cotton from all canses. Now, if we separate from the 
total losses in the warehouse and piclceries SS90,S%, and casnalties at the railroad 
depots, from sparks, etc.. $2,780, we have left losses on shipping and landing bat 
$]9S,016, or, aain$( roand figures, $800,000, equal to but $1 in $6,000, and. say, one-fifth 
of 1 per cent. Examining farther into partictilars, I find of the $196,018 losses on ship- 
boards and landings, $45,140 were daring the calendar year 18^ and $72,699 were In 
the 3rear 1889, leaving, for eight years out of ten. but $78,180, or, say, to use round figures 
$80,000, out of the total valuation of about eight hundred million dollars, equal to $1 
loss in every $10,000, or, sav, one hundredth ^rt. Is there any other known product 
subject to insurance that will show such results ? 

Courts, Insaranee in the. [See Legal Decisions.] 

[^raigr* Edward B., state treasurer and insurance commissioner of 
Tennessee* was bom at Pulaski, Tennessee, April 12, 1859. Preyious 
to his appointment to his present office, Mr. Craig had been cashier of 
the National Bank at Pulaski, and had also been a special for General 
Agent Hindman, representing the Mutual Life of New York in 
Tennessee. 

Craig, Hngh, Pacific Coast manager for the New Zealand insurance 
company, is a native of Sydney, Australia, where he was bom Decem- 
ber 8. 1842. He was reared in Auckland, and began business as a boy 
in 1866 in a grocery store. In 1859 was a student at Wesley College. 
He arrived in California in 1870 and was engaged as a laborer in Oak- 
land. In 1875, having gained a varied experience in Califomia life, 
he was appointed agent of the New Zealana, and in 1877. its manager. 

Crandall Life Insaranee Conspiracy Case. Bryant B Crandall of 
Buffalo, New York, charged with conspiracy to defraud life insurance 
companies was arrested at Los Angeles, Cal., May 19, 1892. About 
April 1. 1886, Crandall, after obtaining insurance on his life for about 
$20,000, disappeared from Buffalo. His clothing, found on the bank 
of the Niagara River, seemed to point to suicide. Three months later 
a dead body was found below the falls, and Crandall's wife and rela- 
tives positively identified it as his. Part of the insurance money was 
paid. Some of the companies, suspecting fraud, refused to settle. 
In May, 1892, a Buffalo woman recognized a man in the streets of Los 
Angeles, Cal., as Crandall. The companies were notified, a detective 
was sent to Los Angeles, and after a long search Crandall was found, 
arrested. extraditecT and taken to Buffalo. Crandall, at first, stren- 
uously denied his identity, but in the Buffalo jail, being confronted by 
his own family and former friends, who recognized him as Crandall, 
broke down and confessed himself to be the man. On the trial in July 
following, an unexpected event happened. The jury brought in a 
verdict of not guilty of fraud; the prosecution having been extremely 
weak. An insurance official, in the course of the tnal, testified that 
Mrs. Crandall had made restitution, as far as possible, of the money 
she had obtained on the insurance policies. 

^_ Urane, John M., of New York, was appointed in August, 1892, 
general superintendent of the American Casualty insurance and 
security companv of Baltimore, with which he had been associated 
since his resignation of the general agency of the Union Mutual Life of 
Maine. Mr. Crane is a native of the city of New York, where he was 
bom about forty-two years ago. He received his education in the 



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68 Crkdit Insurance. 

public soboolfi and a commercial college and went into business as a 
salesman in a silverplatedware establishment, and he also traveled on 
the road for this house. He resigned in January, 1876, to become 
secretary of the Knickerbocker Casualty insurance company, which 
afterwards became the Fidelity and Casualty Company. In 1889. Mr. 
Crane transferred his services to the Union Mutual Life of Maine as 
its New York city manager. He joined the American Casualty two 
years later. 

Crawford, Georfr® R., president of the Westchester Fire insurance 
company of New York, was born at White Plains, Westchester County. 
N. Y., June 21, 1841. When sixteen years of age, he entered the 
insurance business as a clerk in an agency firm. Three years later he 
became a partner with his father in the fire insurance business, the 
firm name being Elisha Crawford & Son. In 1865, he was elected 
secretary of the Westchester, serving in that capacity until 1879. when 
he was promoted to the presidency of the company. Mr. Crawford 
has been president of the village of Mt. Vernon, N. Y., and organized 
the Mt. Vernon fire department, acting as its first chief engineer. 

Credit Insnrance. There was a continuous and somewhat exten- 
sive development in 1892, of so-called credit indemnity, or insurance of 
merchants against loss by unpaid debts. Several companies were 
organized and began business and others were projected. One com- 
pany failed. The following statement, contributed to the Boston 
Standard^ explains the purpose and methods of this class of insurance, 
according to the system adopted by companies of responsibility : 



The data npon which th(«o credit indemnity companies operate is baaed larjsely on 
tno BtatiBtira of mercantile asenciefi fthowing the percentafj^ of failures and from the 
experience of the individaal noiiHCH insured, nhowing the average loMtes to sales during 



a number of years. Thus, for Instance, a houne having sales of $1,000,000 per annimi 
may show an average loss, through nncollected bills, or 1 per cent. This the indemnity 
company calls the '^flrst loss" and does not cover it In Its contract ; consequently the 
merchant stands a loss himself of $10,000 Ix-fore the credit policy contributes a cent. 
The purpose of the credit policy is to insure the merchant against the unexpected trade 
losses, such as through failures or an unusual number of uncollectible bills. The regu- 
lar or expected trade loss is not regard<'d as liiHurable. 

The credit (ompaiiics now write |K)licieH nn larpe as $30,000 at $Sper hundred. The 
policy of a second company writing on the same risk does not contribute until the pol- 
icy of first company is exhiiusted. The cnmimnies only write on houses having a flrj»t- 
class ratine in mercantile agencies, and further protect themselves by limiting the 
amount of linbility for any one failure. Losses under the policies are not payable nntil 
the end of the year. 

The following were the companies which began business or were 
announced in 1892-3: 

American Credit Indemnity company of St. Louis (chartered in Louisiana). It has 
a capital of $500,000 partly paid in. The oflict^rs are Sidney M. Phelan, president, S. M. 
Winter, treasurer, J. A. Hughes and A. L. Shanleigh, managers. 

American Credit Indemnity company of New York, said to be controlled by the 
preceding. Capital $160,000, and has been authorized to do business in New York b? 
the insurance department. Sidney M. Phelan, president, Edgar M. Johnson, secretary. 

American Indemnity company of St. Paul, Minn. Capital $S50,000, partly paid in. 
Has been admitted to Massachusetts. F. P. Strong, president, F. A. Se^inour, treasurer. 

Atlas Ouaranle(; company of Rutland, Vt., is controlled by Boston insurance men. 
Capital $100,000, partly paid in. ChesU-r Parinenter of Rutland, pn»sidcnt, L. S. Jor- 
dan (of Jordan, Lovett A Co., Boston), vice-president, E. M. Buck of Rutland, secretary. 

Credit Indemnity company of New York. Thin company, which was incorporated 
under the law? of North Carolina, with a nominal capitaJ of $160,000, with Margin F. 
Wood as president, and William Lisle, secretary, failed on account of insufficient means 
to meet losses in April, 1893, and made an assignment to Francis £. Barrows. 



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Cbobby, U. C. 69 

Credit insorance company of Chicago, Edmund Burke, president, W. A. Mason, 
secretarj. 

Mercantile Credit Guarantee company of New Yorlc was organized In West Vlr- 
g;inia, and re-organized in New York, depositing $100,000 with the state treasurer, in 
November, 1803. Capital stock S500,000,j)artly paid in. William M. Deen, president, 
James R. Pitcher, vice-president, James £. Granniss, treasurer, C. V. Smith, secretary. 

United States Credit System insurance company of Newark, New Jersey. Capftal 
$^,000, paid up. W. Bf. Fiedler, president, Jnllns Stapff, treasurer, Frederick W. 
Wheeler, secretary. 

Besides these, the First Credit Bonding company of Chicago, to in- 
sure wholesale merchants against loss on credits, and the National 
Credit insurance company of Minnesota, were announced, hut only 
meagre particulars given. 

The Mercantile Credit of New York encountered difficulty in 
Ohio where it attempted to do business under general law, but the at- 
torney-general ruled that it was an insurance company, and as the 
insurance law of the state did not recognize credit insurance com- 
panies, it must cease doing business there. 

yHtchell, Robert 8., western general agent of the Insurance Com- 
pany of the State of Pennsylvania, at Chicago, 111., was born near Glas- 
tonbury. England, in 1844. He came to America when a boy, living 
some time at Rochester, N Y., but while yet a youth he entered the 
office of the Home of New York, at Cincinnati. When the depart- 
ment headquarters were removed to St. Louis in 1860, he accompanied 
them. Two years later he entered the service of the .£tna of Hart- 
ford. During the civil war he saw some service in the navy, and at 
its close accepted the position of southern special agent of the Home. 
Then he transferred his services to the Phenix of Brooklyn, which 
made him its western special agent at Chicago. In 1874, he resigned 
to devote himself to his local agency in Chicago, which he had estab- 
lished four years before. This he continues, and in addition, in 1887, 
be assumed the western general agency of the Insurance Company of 
the State of Pennsylvania. 

Crooke, WUliam Dawson, manager of the northwestern depart- 
ment of the Northern of England, was born in England in 1837, and 
removed to the United States in 1853, and made his insurance debut in 
a local agency at McGregor, Iowa, in 1865. He was employed in 1874 
by the National Board in rating towns in Illinois, Iowa, Wisconsin, 
Missouri, and Kansas; was appointed special agent of the western de- 
partment of the Royal in 1875, was chief clerk in the general agency 
office from 1879 to 1882. and went into the service of the Northern in 
his present position in the latter year. 

rosby, U. C, special agent of the Phenix of New York, for New 
England, was born at Mattapoisett, Mass., in 1845, and entered the 
office of the Bay State insurance company of Worcester, as a clerk, in 
1866. He was appointed secretary of the company, and continued 
with it until it was destroyed in the Boston tire of 1872. He then be- 
came New England special agent for the Continental of New York, 
and afterwards secretary of the Shawmut of Boston. He resigned to 
accept his present position Mr. Crosby was the first president of the 
New England Insurance Exchange, in 1883, and was re-elected in 1884, 
and alfto in 1891. 



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70 Death Roll of 1802. 

banninffham, John L., secretary of the Glens Falls insurance com- 

-pany, N. Y. , was elected president January 20, 1892, succeeding Rus- 
sell M. Little, deceased. President Cunningham was born at Hudson, 
N. Y., April 5, 1840. His boyhood was pnssed on a farm in Essex 
county, M. Y.. but when about eighteen years old he entered a law 
office, and afterwards pursued his legal studies at the Union University 
Law School of Albany, graduating in 1861 with the degree of LL.B. 
He practiced law at Essex until he enlisted in the 118th New York reg- 
iment in 1862, and went to the front. He saw a good deal of active 
service, was for some time provost-marshal at Portsmouth. Ya., and 
came out of the war the lieutenant colonel of his regiment. On return- 
ing home, he was appointed collector of internal revenue for the 16th 
congressional district of New York, which position he resigned to Join 
the field force of the Glens Falls, as a special agent. In 1872 Col. Cun- 
ningham was elected secretary of the company, and became virtually 
its manager. On the death of President Little he succeeded to the 
presidency. 

D 

Daj, James I., for twentv years president of the Southern Mutual 
insurance company of New Orleans, resigned in April, 1892, and was 
succeeded by Leonard M. Finley. Mr. Day at the time of his resigna- 
tion was 78 years old. 

Death-Rol 1 of 1 892. The following is a list of persons prominently 
connected with the insurance business, who died in 1892: 
Alexander, J. H., Are t^mt at Toledo. O., died from pneumonia, April 16. 
Allen, 8. 8., former wcretary of the New England Mutaul Fire and a Boston fire agent, 

died at Mt. Depert, Me., Jane 18, aged GO yearn. 
Amen, William, fd, insurance agent at Dedham, Maw., died December 7, aged 84 yearv. 
Anthony, Edward U., fire insurance adjuster, died at Tenafly, N. J., July 1% aged 70 . 
years. 

bnthnot, Charles, president of the Pittsburgh insurance company, died October 4. 

Arnold, B. C, special agent of the Phenix of Brooklyn for Nebraska, died June SO, aged 

80 years. 
Ash worth, John A., fire agent at Boston, Mass., killed by being thrown from his hon« 

at Somerville, Mass., May 39, aged 27 years. 
•Aspinwnll, Sterne F., president of the Grand Rapids Insurance comoany of Michigan, 
died of pneumonia, April 8, ag<*d 48 years. He was a native of Cnautauqna County, 
N. Y., but when be was two years old his parents removed with him to Freeport, 
111., and settled upon a farm. He was educated at Oberlin college, O., stndied law 
at Freeport, 111., and practiced there ten years, acting at the same time as a fire in- 
surance agent. In 1876, he moved to Grand Rapids, Mich., where he was engaged 
In the fire insurance business to the time of his death. May 14, 1888, he was elected 
secretary of the Clrand Rapids Fire, then about six months old, and this position he 
held until February 17, 1801, when be was elected president, succeeding the late 
Julius Houseman. 
Babcock, Franklin, Are agent at Chicago, HI., died January 80, aged 64 years. 
Baker, Alfred G., former president of the National Board of Fire Underwriters and of 
the Franklin Fire insurance company of Philadelphia, died December 90, at Phila- 
delphia, of heart disease, aged 61 years. He was a native of that city, son of 
Michael V. Baker, a prominent citizen. He was graduated from the Unfveraity of 
Pennsylvania in 1861, receiving from it, three years later, the degree of master of 
arts, ue entered Into mercantile life first with the commission house of David 8. 
Brown, and afterwards In partnership with Samuel Leonard. From 1866 to 1870 be 
was a member of the firm, from whicn he retired with a fortune. He had long been 
a director of the Franklin Fire, and on the death of Mr. Bnncker in 1869, succeeded 
to the presidency. He held this position until he resigned In 1681. During his ad- 
ministration the Chicago and Boston fires occurred, and he was president of the 
National Board throe years. He was one of the three originatorB of the Philadelphia 



Dbath Roll of 1S92 71 

Fire Patrol. He filled many positions of public traet in his native city, was prest- 
dent of the Academy of Music Company, and an enthusiastic patron of art, 
literature, and science. 
Barker, Pierre A., lire agent at New Orleans. La., died from paralysis, Jane IS. 
i- Baesett, Allan L., first president of the Prudential of Newark, and subseqnently^J^ewark 
^ superintendent for the Metropolitan Life of New York, died December 14. 
^..^Benners, R. H., formerly secretary of the Firemens of New Orleans, died September 8. 
Berthelot, Leon J., special agent in foreign countries for the New York Life, died in 

Paris, France, August 9, aged 63 years. 
Bills, HenrY A., formerly western general agent of the iEtna Life, died on Long Island 

Sonnd by suicide, June 38, aged 70 years. 
Blagden, Thomas, insurance broker of New York, died November 5, aged .51 years. He 
was a native of Boston, a son of the distinguished clergyman. Dr. Blagden of that 
city and brother of Samuel P. Blagden. the United States manager for the North 
British and Mercantile. He was graduated at Amherst college In 1861, and had been 
doingan insurance business in Now York the past flft(Y!n years. 
Blodget, Henry T., of the home ofilce of the Equitable Life, died in New York of pneu- 
monia, January 39. He was the Massachusetts manager for the Equitable from 
18r0tol88]. 
eye, Edward, founder and manager of the Svea insurance company of Sweden, died 
Januarr 10, aged 60 vears. 

ime, William, compiler of Boume*s Insurance Guide, died in England, February 7, 
aged 80 years. 

.^^ Bradley, Frederick, formerly of the general fire and marine insurance agency firm of 
^ Scull & Bradley, Boston, Mass., died at Brookline, Mass., December 5, aged 44 
years. He was bom in Charlestown, Mass., and entered the insurance business as 
a clerk for Gk>orge E. Fbwtcr some years before the great Boston fire. Mr. Foster 
took into partnership Mr. Cole, and later Mr. (Gideon Scull. When the firm of 
Foster A Scull was dissolved by the death of the former, Mr. Bradley was admitted 
to partnership. He had charge of the marine business in Boston of the Insurance 
Company of North America from the first, and was considered one of the ablest 
marine underwriters of the day. 
^am Brewster, W. F., founder of the United States Jieview, died at Cambridge, Mass., May 

13, aged 64 years. 
^^ Brocklebank, Ralph, chairman of the Hoyal of Liverpool, died February 8, aged 88 
Years. 
"•"'^ David, secretary of the late Putnam Fire of Hartford, died at San Francisco, 
January 1, aged 78 years. 

k, William A., president of the Factors and Traders insurance company of Mobile, 
died of heart disease, October 29. 
Bnnyon, Charles John, English actuary and writer on insurance hiw, died June 86, from 
concussion of the brain, aged 71 years, 
rch, Thomas Ross, western and southcni general agent of the Phenix of Brooklyn, 
died at Chicago from paralysis on June 16, aged 46 years. He was a native of 
Brooklyn, N. x ., where he received a common school education. At the age of six- 
ti^en he entered the office of the Phenix, of which Stephen Crowell, aften^'ards bis 
falher-in-law, was president, as a clerk, and was advanced upon merit to various 
positions until he became assistant-general agent at the home ofllce. In 1876 he was 
sent to Chicago to take charge of the department over which he had since presided. 
Mr. Burch has been occonnti'd by some the greatest fire underwriter in the West. 
He cerUtinly built up nn immense* volume of first-class business for hisQ^mpany and 
was a very |M>tent factor in the creation of its prosperity and greatness. For a few 
years iirior to his death Mr. Burch was In ill health ana had only recently returned 
from a visit to Bermuda in search of improvement when ho died. 
Burdus, Frederick, insurance journalist, former editor of the London Insurance Observer, 

died in .September, in England. 
Burge. Lorenzo, of the Boston, Mass., fire agency firm of L. Burge, Hayes A Co., died 
tianuary 8, aged 74 years. In 1848 he started in the fire insurance business in Boston 
as agent of the Peopled Mutual Fire. In 1878 he took into the firm Clarence H. 
Hayes, a clerk, and in time it became one of the leading agencies in New England. 
On account of age Mr. Burge retired from the active business of the firm in 
February, 1889. 
Burton, L. L., marine insurance agent at Chicago, 111., died November 18, of pneumonia, 
aged 89 years. 
■M Butler, Henry, president of the former American Exchange Fire of New York, died at 
Blairstown, N. J., November 14, aged 86 years. 

C&ry, Charles Jerome, veteran agent at Milwaukee, Wis., died April 10, aged 71 years. 

^*^hapman, Daniel C, secretary of the American Fire of Baltimore, died May 11, aged 48 
years. 



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72 Death Roll of 1892. 

Cramer, Herman V., fi;eneral a^pnt for the Equitable Life, died in New Tork, of apo- 

S'exy, April 29, aged 55 yearn. 
7, Thomas G., marine underwriter at Chicago, died at Chicago of cancer in the 
throat, June 6. 
Cutting, Hiram A., died of apoplexy at Lnnenbnrgh, Vt., April 18, aged 60 years. He 
was for many years a Are Insurance agent at Lnnenburgh, and a director of the 
Vermont Mutual. 
I>ow, Sterling, fire insurance agent at Portland. Me., died June 80 from coneomption. 
aged 50 years. He was of the agency Arm or Dow A Pinkham, probably the lai^est 
in New England, and had been a fire underwriter all of his business life. 

D'Utassy, Oeorgf F., general agent of the Phoenix of I}artford for Maryland, died at 
Wilmington, Del., from accidental inhalation of illuminating gas. May 2, aged 65 
years. He had but recently been transferred from the Cincinnati general agency, 
(ten. DTtasay served both fn thcCVimoan and American civil wars, with distinction. 

Eliot, Georffe H., chief of the bnreau of information, oiHce of the Mutual Life of New 
York, died at Montclair, N. J., April 8, aged 68 years, 
.yphigpr. Christian, president of the Farmers insurance company of Wilmington, Del., 
^ died January 16, from effects of the grip. 

Folger, George H., of Bradford A Folger, insurance agents at Cambridgeport, Mass., 
died January 14. 

Folsom, Simon B., life insurance agent at Dover, N. H., and president of the New 
Hampshire Life Underwriters AHtmclatlon, died October 9, aged 66 years. He wa» 
ill but one hour. Mr. Folsom had just retnnied home from the association's annual 
meeting at Fletcher's Island, where he read a pa]M?r. He was one of the delegates 
present at the national convention in New York the previous month. Rcprestenting 
the Mutual TJfe of New York, he was known all over New England as an active 
and popular Ufe insurance worker. 

Ferguson, Thomas, of Ferguson & Grant, general agent« of the Mutual Life of New 
York at Detroit, died November 14, at Denver, Col., of consumption, aged 57 years- 
He liad been connected with the Mutual Life a quarter of a century. 

Gardner, Henry J., general agent of the MasMachusetts Mutual Life, died at Milton, 
Mass., July 21, or cancer, aged 74 years. He was governor of the state of Masaa- 
chusetta from 1855 to 1868. 

Glbbs, Archibald, insurance agent at Washington, D. C, died at Baltimore, Md., 
November 7, aged 84 years. 
^^Goodnow, Jotham, president of the .£tna insurance company of Hartford, died Novem- 
ber 19 at Hartford, of heart failure, aged 74years. He was a native of western 
Massachusetts, where he was bom in 1819. He went to Hartford in 1866 as cashier 
of the Hartford Bank. In 1864 he was cashier of the City Bank of New Haven. 
Two years later he was recalled to Hartford to take the secretaryship of the ifitna 
insurance company. He was secretary twenty-two years and succeeded the late Mr. 
Hendee as nrcsidont in 1888. Mr. Goodnow served in both branches of the Hartford 
city council. 

Goodloe, John K., >icc-pre8ident of the Mutual Life of Kentudcy, died at Thomasville, 
Ga., in February. 

Goshom, John W., special agent of the Mutual Life of New York, died near Bristol, 
Tenn., in January. 

Grabfelder, Abraham L., general a^ent of the Manhattan Life for the Southern states, 
died in New York city of erysiiK;lus, May 1, aged 64 years. He was a native of 
Bavaria, and came to this country in early youth. For twenty-two years ho served 
the Manhattan as its southern general agent. 

Green, J. 8., of Green & Woodcock, insurance agents in Nashville, Tenn., died June 
27, at Memphis, Tenn., aged 40 years. 

Griffin, W. 11., life insurance agent, died October 9 at Brunswick, Ga„ by suicide. 

Hall, Nathaniel, fire insurance agent at BuiFalo, N. Y., died June 29, aged 73 years. He 
was the senior member of the firm of Nathitniel Hall & Son, one of the oldest and 
most respected in that city. He represented the Springfield Fire and Marine nearly 
forty years, being among the first agents api>ointed by that company. 

Hamilton, Henry, formerly Philadelphia general agent of the Mutual Benefit Life, died 
February 9. 

Harding, Will II., life insurance agent at Ijouisville, Ky., died October 28 of dropsy, aged 
59 years. 

Hawkins, Harvey S., superintendent of the application department of the Equitable 
Life, died at Brooklyn, N. Y., of cerebral meningitis, June 22, aged 32 years. 

Holmes, James E., oldest ofiice employe of the Equitable Life of New York, died March 
26, aged 87 years. 
► Hovey, Joseph F., of the Boston, Mass., fire agency firm of Hovey & Fcnno, died at 
Belmont, Mass., January 4. He was bom at Charle«town, Mabi*., in 1821, and when 



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Death Boll of 1892. 73 

a boy entered the fire iosurance baainew id Boetou. At one time be wad secretary 
and later president of the old State Mutual of Boston. He afterwarde entered the 
agency bnaineee, Thomas Baxter being hlspartncr. In 1863 Mr. Baxter retired and 
G. D. Fenno came in, forming the firm of uovev &, Fenno. 

Ibnen, Harro, aseietant United States manager of tbe Transatlantic Fire of Hamburg, 
died at Jersey C'ity. N. J., of pneumonia, January 10. He was 48 years old, and had 
been with the Transatlantic twelve years. 

Irwin, Archibald, Manager for the Connecticut Mutual Life at Cincinnati, died December 
4, of bean disease, aged 87 years. 

Jndd, Fred A., insurance agent at Springfield, Mass., died November 23. 

Kay, Samuel W., aesistani secreuiry of the Franklin Fire at Philadelphia, died at Phila- 
delphia of pneumonia, March 4, aged 60 years. 

Kilbum, Daniel W., general agent of the Connecticut Mutual Life at Boston, died Sep- 
tember 6, of Bnght's disease, aged 60 years. He was born at Sterling, Mass., 
October 27, 1831, and went to Boston- earlv in life. He taught penmanship at 
Frmch's Commercial College for a number of ye^rs, and in 1866 entered the service 
of the Connecticut Mutual as bookkeeper for Edwin Ray, who was at that time 
eimeral agent of the company at Boston. In 1880 Mr. Kilbum quit desk and ledger 
Tor the more stirring duties of an agent of the company, and In 1885 was appointeil 
general agent, which position he retained until his death. He was a man of upright 
ctiaracter, kindly disposition, unafl!ected piety, and dearly beloved bv his colleagues, 
who elected him pntudeiit of the Boston Life Underwriters Association in 1889. 

Kistler, James A., insurance agent at Allentown, Pa., kilk^ by railroad accident, Deccm- 
bcT 16, aged 4S years. 

Knight, W. W., insurance agent at Saginaw, Mich., died by shooting himself December 
S9, aged 68 years. 

Laighton, John F., general agent of the Hartford Life and Annuity for Maine, died at 
Meredith, N. H., of typhoid fever, October 29, aged 84 years, 
^^^uiaux, Pierre, president of the New Orleans Insurance Association, died September 6. 
^Tiine, Percy F., associate manager of the Canadian department of the United Fire of 
Manchester, died at Montreal, September 22. 

Locke, A. Newton, special agent or fire insurance companies, died November 25, at 
(Slens Falls, N. Y. He was at one time secretary of the Glens Falls, and afterward 
in the service of the Continental and the Hartford Fire. In 1890 he became asso- 
ciated with the Niagara Fire as metropolitan adjuster, in charge of its New York 
IcMtses. 

Nay, Edward, fire insurance agent at Canton, N. J., died October 22, from paralysis. 

Mitchell, Thomas A., Pacific coast manager for the Insurance Compjmy of North 
America, died at Oakland, Cal.. from the cfTects of a spider bite. August 9, aged 42 
years. He was an Englishman by birth. Ijis connection with insurance began as 
a clerk in the office of the Pacific Fire of San Francisco. He was afterwards a 
member of the general agency firm of Jonathan Hunt & Co. of that city, and in that 
way liecame manager for the Philadelphia comjMUiy. 

Moody, Orange G., fire insurance agent at Lockport, N. Y., died September 7, aged 72 
years. 

MorJr, Gilford, of Morse & Slade, New York managers for the Massachusetts Mutual 
Life, died at Yonkers, N. Y., from Bright's dibeahe, January 25, aged 64 years. He 
was a native of Sharon, Mass. For many years he represented the Mutual Life and 
the Equitable Life, and the last ten vearb of his life he was manager of the Massa- 
chusetts Mutual Life in New York city. He had built up a large business by his 
energy and industry. Mr. Morse was one of the founders of the Life Insurance 
Association of New York, and its president in 1J?90. 
^^ 3Iurdock, J. K., pi-esidcnt of the Miami Valley insurance company of Cincinnati, died 
at St. Augustine, Fla., in March. 

Munkittrick, Alexander, Sr., late manager of the Equitable Life of the United States for 
lircat Britain, died at Kensington, £ng., bi September, agtid 88 years. 

Neff, George W., fire insurance agent at Chiclmiaii. O., died Decenilxjr 14 from droppy, 
at New port, Ky., aged 50 years. 

Neh**r, Philip U., agent at Troy, N. Y., died June 15, agwl PS years. 

North, John G., oldest agent of the .Etna and Connecticut Mutual Life, died at Milford, 
Conn., of apoplexy, March 10, n«:cd 70 years, 
..^ Norwood, Carlisle, 8r., pn*pidt*in of the LoriUard Fire of New York, died January SO, 
aged 79 years. He was au old New Yorker, nv.d many yea re an active member of 
the local fire departmeiii. Hi- became secntaiy ul thi- Lorillard in 18i>2 and piibi- 
dent in 18.58. 

Parnilee, H. J., niariuf »;;< nt for the ^Etnaof Ilarlfoid at New York, died of pneumonia 
March 2K. 

Pcarce, Samuel W., iuaurauce journalist, died al Brooklyn, N. Y., of consumption, 
January 25. 



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74 Death Roll of 

Peck, Charles M., fire Insnrance mftnaf^er In the city of New York for many years, died 
in New York October 9, a^l 52 yearn. He was a native of Hartford, a^Tadaate (tf 
Yale, and aacceeded hiti father aa an ineurance agent in New York in 18Q£ He traill 
np one of the largest insnrance agencies in the United States, at the same time serr- 
ing with zeal the general caarn of insnrance in the local boaid and kindred organ- 
izations. Mr. Peck was a genial man and had manv attached friends. Bad h^th 
drove him out of business, and be was succeeded In nis agency, in which he retained 
an Interest, by Banta A Courtney in 1891. 

Porlwood, Alice M., insurance agent at Lawrenceborg, Ky., died October S8. 
^^nrdv, Samuel M., vice-president of the Westchester Fire insurance company, died 
July 8. 

Ramsey, James P., agent at New Orleans, La., died at Aiken, S. C, from coneuaption, 
March 8. 

Randall, Franklin P., fire agent, died at Fort Wavne, Ind., May 28, aged 80 veara. 

Pmw. Andrew, late president of the Howard Fire of Baltimore, Md., died at Lather- 
^^ ville, Md., April So, aged 72 years. 

Richards, William M., president of the Fidelity and Casualty company of New York, 
^^ died September S8, suddenly, of heart disease, aged 74 years. Mr. Richards was a 
^^ New York wholesale drygoods merchant many years and accumulated a large 
fortune. He was one of the organizers of the ^delity and Casualty and its presi- 
dent from the beginning. He was a director of the Continental insurance ocnnpany 
and interested as officer or director in a number of the charitable, business, and art 
institutions of New York and Brooklyn. 

Robinson, John W., state ain^nt of the Northwestern Mutual Life for Kentnckv, died 

October 26, by suicide ^i-nile insane. He was bom in Ohio fifty-two vears before, 

and had be«n with the Northwestern Mutual Life for twenty years, the last fifteen of 

which was as state agent for Kentucky. He tiad built up a very large bosineas, and 

* was much esteemed by his company. 

Roosevelt, Nicholas L., of the insnrance agency firm of Roosevelt A Boughton, New 
York, died December 18, of nneumonla. He became connected with ilre insurance 
as secretary of the New York and Boston insurance company. 

Ruggles, William B., late deputy superintendent of insurance of New York, died at 
Albany, N. Y.. January 4, aged 64 years. He was a journalist several years, then a 
lawyer with a large practice, and from 1882 to 1880 the state superintendent of public 
^^^^nstruction, a position which he resigned to enter the insurance department. The 
insurance business is indebted to Wr. Ruggles for an able monograph on valued- 
policy laws. 

Silliman, C. B., fire agent at Pottsville, Pa., died March 27. 

Smith, J. Fisher, late manager of the New York Life for Great Britain and Ireland, 

died in London from cancer of the tongue, April 80, aged 49 years. He was bom in 

^^ Boston, and entered the insnrance field in Calif oraia m 1882. From San Francisco 

^^ he went to London as assistant manager under the late Harry Homans, and when 

Mr. Homans took charge of the New York Life's continental department, Mr. Smith 

succeed^ him in the management of the London office. 

Spear, Ell A., fire Insurance agent at Bay City, Mich., died July 1, of apoplexy, 
^^pence, E. F., president of the late Southern California insurance company, died 
September 20. 

Sproufls, Samuel E., senior trustee of the Mutual Life of New York, died November M, 
at Astoria, N. Y. , aged 82 years. 

Stillman, Charles H., formerly one of the medical directors of the Mutual Life of New 
^^ York, died at Plainfleld, N. J., of quick consumption, April 80, aged 88 years. 

Sublette, W. W., general agent of the Provident Savings Life for Tennessee and western 
Kentucky, died at Clinton, Ky., October 80. 

Taylor, Thomas M., fire agent at St. Louis, Mo., January 25. 

Thomas, Webb M., fire insurance agent and secretary of the local board at Dayton, 
Tenn,, died in February. 

Vinton, Hammond, of the Boston, Mass., fire agency firm of Freeman A Vinton, died 
at Boston of pneumonia, Dec(?mber 28, 1801, aged 51 years. 

Walker, J, Wybora, superintendent of the Metropolitan Life of New York, for Canada, 
died from aix)plexy, at Toronto, Ont., January 9, aged 45 years. 

Wallace, William M., agent, died at Chicago May 14, aped 67 years. 

Warner, Daniel B., western general agent of the Phcenuc of London, died at Chicago of 
heart disease, March 19, aged 58 years. He was bom at Dayton, O., July 8, 1833. 
His early business career was somewhat varied, but he finally became interested in 
the Firemen's insurance company of Dayton, and in 1871 was made its general 
agent. In 1879, when the Phoenix of Lonaon entered the United States. Mr. Warner 



t 



a^^ui.. Jill JOII7, tTiic^ii lu^ A iiuciiiA tri A.iv>iiuvii ^iiici^^i luc t. uii«:vi cjvok^q* a. 

joined Us service and was its we^^tern manager to the time of his death. 



, Williams, John C, insnrance superintendent of Missouri, 1881|to 1885, died at Maoon, 
! Ga., of cancer, January 17, aged 64 years. ^ t 

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Dbpositb, Special, Rbquibbd bt Statbs. 76 

ToDDg, I. Fenwick, Secretary of the Franklin Fire of Waehlngton, died Pebroary 1. 
Youne, James B., actuarv of the American Fire of PhiladelpluA, died Auguat 28. 
. Zuberbler, Herman, preaident^f the Germania of New Orleans, died March 5, aged 66 
years. 

Delaware, Insaraiice Supervision in, 1879-1898. The insurance 
department of this state was established by act of the legislature March 
24, 1879. The insurance commissioner is appointed by the governor 
for a term of four years. The commissioners have been : 

JohnR. McFee, 187t>— 18M 

Henry C. Doaglass, .... 1884—1886 

Nathan Pratt, 1886—1889 

Isaac N. Fookd. 1889-1803 

Peter E. Meredith, .... 1893— 

The Delaware department reports are issued biennially and there 
was none in 1892. 

Dennis, Rodney, secretary of the Travelers insurance company of 
Hartford, was born at Topfleld, Mass., January 14, 1826. At the age 
of sixteen he obtained a clerkship with a Hartford merchant and re- 
mained ten years in that capacity. He was afterwards in business for 
himself in Augusta, Ga., and Albany, K. Y.. but returned to Hartford 
to accept the position of accountant in the Phoenix bank. In 1864 he 
wiEis appointed secretary of the Travelers. Mr. Dennis is prominently 
identided with many iinuncial and charitable institutions of Hartford, 
aud was one of the founders and president many years of the Connec- 
ticut Humane Society. 

Denver Life Underwriters' Association was organized by the life 
insurance managers of Colorado, at Denver, April, 1892, with the fol- 
lowing officers: Ira B. Jackson of the Pacific Mutual, president; Oliver 
Williams of the Northwestern, first vice-president; J. L. Stearns of the 
Mutual Life, second vice-president; A. £. Liverman of the New Eng- 
land Mutual, secretary; J. H. Harrison of the Penn Mutual, treasurer; 
£. C. Oilman of the Home Life, G. A. Ncwkirk of the Mutual Benefit, 
J. 8. McFarland of the Michigan Mutual, F. Hughes of the Massachu- 
setts Mutual, and J. C. Collum of the Union Central, executive com- 
mittee. 

Deposits, Siieefal, Required by States. The following is a state- 
ment of the special deposits required by certain states from insurance 
companies of other states or countries doing business therein: 



G^rf/ia. By fire companies, tS5,000. 

New York. By fire, hfc, mariDe, and . . . ^- - 

000, by domcfltic fife corapanieo, ^100,000, by domestic casualty and guaranty criHlit 



New York. *By fire, life, marine, and casualty com|ianic8 of other countries, $900- 



oonipanles to an amount not less than $l66,0d0 nor more than $350,000. Domestic fire 
companies and all insurance companies of other statcH are not required to make de- 
poeitM except in the case of the latter under retaliatory laws. 
Ohio. By forei{^ companies, $100,000. 



Oregon. By Are companies, $60,000. 
" " '^aroli •' 

ty all (excepi , . . , 

In bonds of Vir>rinia or the unllfd States or the cities of Richmond, Petersburg, Lynch 



SotUk Carolina. By surety companies bonding state and county officers, $9R,000. 
Virgitua. By all (except assessment) companies five per centum of their capital 



burg, Norfolk, Alexandria, Winchester, Staunton, or Danville, such deposit to be not 
leas than $10,000 nor more than $50,000, and no single bond to be over $10,000. 

Many states require deposits by other state companies if they have 
not made deposits in their home states, and by companies of other 
countries if they have not made deposits in some other state of tlie 
United States. 



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76 DoDD, Amzi. 

In states having reciprocal or retaliatory laws the fire insurance com- 
panies of Georgia, Oregon, and Virginia, the life and other insurance 
companies of Virginia, and the surety companies of South Carolina, if 
any, are required to make the same deposits as the last named states 
exact of like companies of the first-named states. 

Dickson, Robert. United States manager for the Roval Exchange 
and Pacific coast manager for the Connecticut Fire and Queen, was 
born in Scotland in 1845. He went to San Francisco in 1866 to join 
the mercantile house of Cross & Co., who were general agents for a 
number of insurance companies. Mr. Dickson became their insurance 
manager. In 1877 he associated himself with the British consul, Mr. 
Booker, in the management of the Imperial, Northern, and Queen. 
He succeeded Mr. Booker as sole manager in 1882. The Imperial 
withdrew from the combination in 1886, and in 1891 the London 
Assurance and the Northern were transfeixed. Mr. Dickson now 
represents the companies first named. 

District of Columbia, Insurance Supervision in. The whole 
question of insurance supervision in the District of Columbia is 
placed by act of congress under the license branch of the office of the 
assessor. The companies, when duly authorized to transact businet« 
in the district by the district commissioners, are licensed (by their 
agents) and pay their taxes through the regular channels in the 
assessor's ofiice. Section 8 of the act of congress regulating the busi- 
ness of insurance in the district provided : 

That every fire insurance company, to entitle itself to the written authority by 
' ' 1 to tranaact buslncM In t" ^••- ^ .. . 
ling a rein»uraDce res 
>on one -year risks, anc 
ire risks Every com 

I eqnal to iu liablUlIes, in _ _, 

the total premiums charged upon all unexpired iuland or marine riska. Every life 



this act required to transact business in the district, shall have assets eqnal to its 

ii_i_flttAi-— in ~* " " ■* ' ' ^ fi — i-Jii*— « - _ .«■ A. _ _ _ _ _ ^ « p 

1 upon one -year rl 

,, ir ire risks Every c ._^ ^ „ 

haveasfets equal to its liabilities. Including a relnnu ranee reserve liability squal to 



liabilities, including a reinsurance reserve liability eqnal to flftv per centum of premi- 
ums received upon one-year risks, and an amount proportioned to the unexpired time 
upon all other lire risks Everv company doing an inland or marine business shall 



insurance company, excepting those organized upon the plan of assessmenta on their 
members, shall have assets eqnal to its liabilities, including a reserve liability com- 

Ented upon the basis of the American experience table of mortality, at four and one- 
alf per centum interest. Before issuing any written authority to any company to 
transact basiness in the district, the commissioners, or a majority of them, aball 
satisfy themselves that such company has complied with tho law; and at any time 
thereafter they shall revoke such authority when satisfied that such company baa 
fallen below such requirements. 

The present assessor of the district, through whose ofiice the busi- 
ness is transacted, is Matbew Trimble. [See Trimble, Mathew.] 

District of Columbia Life Underwriters Association* [See 
Life Underwriters Association of the District of Columbia.] 
^^»Dodd, Amzi, president of the Mutual Benefit Life insurance com- 
pany, was born at Bloomfield. N. J., March 2. 1823. He was gradu- 
ated at Princeton College in 1841, and admitted to the Newark bar in 
1848. He practiced law with Frederick T. Frelioghuysen and alone 
until 1871, when he was appointed vice-chancellor of New Jersey. He 
resigned that ofiice in 1875, was reappointed in 1881, and at the close 
of the year again resigned to become president of the Mutual Benefit. 
Mr. Dodd has been for many years one of the Riparian Commissioners 
of New Jersey, has been in the state legislature, a justice of court of 
errors and appeals, etc. He brought to the service of the company a 
special knowledge of the mathematics of the business, having been the 



Ducat, Arthuk C. W 

mathematician of the company since 1863, and having given a great 
ddal of study to life insurance'matters both here and in England. 

^ornin, Ueorgre D., manager for the National Fire of Hartford for 
the Pacific coast, was bom in New York city, December 80, 1880. 
His first business employment was in a Wall street broker's office. He 
was a ** Forty- uiner" in California, roughed it in various vocations 
until he was appointed San Francisco agent of the Phoenix of Hartford 
in 1803. In 1871 as general agent of the Fireman's Fund, he went to 
Chicago to adjust the losses of the company in the great fire. He was 
the very active secretary of the company from 1871 to 1881, when he 
resigned to take the coast management for the Lion of London. In 
1886 the Imperial, and in 1888 the National of Hartford were added 
to his agency, but in 1891 he relinquished all except the latter com- 
pany to which he solely devotes his time. 

^^i#owniiig, Jerome F.. manager of the western department of the 
Insurance Company of North America and the Pennsylvania Fire, 
with headquarters at Erie, Pa., was born at Enfield, Mass., March 24, 
18d7. He was reared on a farm and reaching manhood entered 
journalism in his native state, and subsequently was editor-in-chief of 
the Troy, N. Y., Daily Post. While teaching school at Carlisle, Pa., 
he studied law and was admitted to the bar at that place, and in 1855 
removed to Erie. Here he acquired a lucrative practice and was 
district attorney of the county. In 1864, he was offered the western 
management of the North America, which, being disinclined to give 
up his profession, he accepted with hesitation, and with the stipula- 
tion that the headquarters of the company should be at Erie. The 
management of the Pennsylvania Fire was added in 1874. Mr. 
Downing is classed with the greater of the western underwriters. He 
has large business interests in western Pennsylvania, and is prominent 
in public affairs. 

' Dryden, John F., president of the Prudential insurance company 
of America, was the founder of the company which he originated, 
after a careful study of the methods of the great London company of 
the same name. On the organization of his company in 1875, Mr. 
Dryden was chosen its secretary and manager and succeeded its first 
president, Mr. Blanchard, on the death of that official in 1881. 

Ducat, Arthur C, western manager for the Home of New York, 
at Chicago, was born in Dublin, Ireland, February 24, 1830, and 
removed to the United States when he was nineteen years old to follow 
the profession of a civil engineer. At the time the civil war broke 
out, he was secretary and chief surveyor of the Chicago Board of 
Underwriters. He went to the front as a private in 12th Illinois 
infantry, and during his four years army service, which was arduous 
and exciting, rose rapidly until he reached the rank of inspector- 
general. He was General Rosecrans' senior staff officer at the battle of 
Corinth. When the war closed the Home of New York appointed him 
to supervise its business in the western field, and soon after made him 
its general agent in Chicago. He associated with him Mr. Qeo. AL 
Lyon, and the firm is known as Ducat, Lvon & Co. General Ducat 
is the author of a valuable text-book on fire underwriting, has filled 



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78 DuTTOH, William J. 

many positions of public and private trust in Chicago, and has been 
major-general of the State forces of Illinois. 

Dudley, James F., was appointed secretary of the i£tna insurance 
company of Hartford, December 7, 1892 He is a native of Maine 
and a graduate of Bowdoin College, in the class of 1865. For some 
years he was principal of the Thomaston High School. He began bis 
insurance life in the local agency business in Bangor, and then 
became special agent in Pennsylvania for the North British and Mer- 
cantile. He entered the service of the i£tna in the same field, and 
remained for a number of years, when he was transferred to New 
York State as special agent and adjuster. His next step was a return 
to the North British and Mercantile, for four years as assistant man- 
ager for the United States, with his oflice in New York. In 1888 he 
accepted the office of assistant secretary of the iEtna, which he held 
until his promotion to the secretaryship. 

^Diidlev, Walter W., United States branch manager of the Man- 
chester Fire assurance company of England, was bom at Guilford, 
Conn., and removed to Wisconsin at an early age. He was engaged in 
the fire Insurance business as local a^nt at LiaCrosse in 1867, and after- 
wards served successively as special affent for the St. Paul Fire and 
Marine and the Qerman-American. Mr. Dudlev remained with the 
latter company eight years, when he went to Dakota and conducted a 
banking business. Returning to Chicago after three years' absence be 
was made the assistant manager of the western department of the 
North British and Mercantile; was afterwards manager, until his 
appointnent In 1890, as manager of the Manchester. 

Dnncan, Henry F., insurance commissioner of Kentucky, was 
born near Bowling Green, Ky., March 18, 1854. Since his school days 
his business life has been passed in the office of the state auditor of 
Kentucky, which he entered in 1876. He was appointed clerk in the 
insurance division in 1882, and subsequently deputy insurance com- 
missioner, and November 11, 1889, was advanced to the commiasion- 
ership. 

Dnryea, George S., commissioner of banking and insurance of New 
Jersey, was born at Newark in that State, in 1850. He is a lawyer by 
profession, and has been clerk in chancery, and United States district 
attorney for New Jersey. Mr. Duryea succeeded Col. Harvey, the 
first commissioner under the new law in 1891. 

D*Uta88y, George F., general agent of the Phccniz of Hartford for 
Maryland. [See Death Roll.] 

latton, William J., president of the Fireman's Fund insurance 
company of San Francisco, was born at Bangor, Me., January 23, 
1847. His father was one of the pioneers in California, an incorpora- 
tor of the Fireman's Fund, and served for some years as its vice-presi- 
dent. Mr. Dutton was taken from the office of the North British and 
Mercantile in 1870, when the Fireman's Fund established its marine 
department, and appointed marine clerk. In 1869 he was elected 
marine secretary, and in 1878 assistant secretary in charge of the 
marine business. On the retirement of Mr. Dornin in 1880, Mr. 
Dutton was elected secretary of the company. In 1890 he was elected 



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Electbio Light Wires. 79 

vice-president, and in addition in 1892, vice-president of the Home 
Mutual of San Francisco. He is an expert in marine underwriting. 
^■» Dn YaI, W. S., compact manager for tlie Pacific Insurance Union 
was born at Middletown, Conn., in 1847, and was educated at tlie 
School of Mines of Columbia College, New York. He went to Cali- 
fornia in 1868, and was engaged in practical mining many years. In 
1885 he became an employe of the Pacific Insurance Union, serving as 
surveyor in different places within its jurisdiction. In 1890 he was 
appointed general manager. 

E 

Eastern New York Life Underwriters' Association. [See Life 
Underwriters' Association of New York.] 

East Texas insurance company of Tyler, which disposed of its 
agency business in 18ifl, re-insured its Texas risks in the Fire Associa- 
tion of Philadelphia and Syndicate of Minneapolis in February, 1892. 
^^ Eaton, Henry W., resident manager in New York of the Liverpool 
and London and Globe insurance company, is a native of London where 
he was born in 1848, and received his insurance education in the office of 
this company. He represented it at Bristol, £ng., in 1876 and came to 
New York in 1878 as assistant manager of the New York branch under 
Mr. Pulsford. Upon the retirement of that gentleman in 1887 became 
resident manager. Mr. Eaton is also vice-president and treasurer of 
the Omaha & St. Louis railroad. 

Edgerly, Martin T« B., president of the Massachusetts Mutual Life 
insurance company, was born at Barnstead, N. H., September 26, 
1888. His first insurance experience was with the company of which 
he is now the head. In 1860 he began to solicit business for it, was 
appointed general agent for New Hampshire in 1861, with Vermont 
and Northern New York afterwards added, superintendent of agencies 
in 1869, Boston general agent in 1874, second vice-president in 1883, 
rice-president in 1885, and president in 1886. Col. Edgerly while Hy- 
ing in New Hampshire was a prominent party leader, and was the 
Democratic candidate for governor in 1882, coming within a few votes 
of election. 

Eleetrical Inspectors' Meeting. A meeting of electrical inspect- 
ors of companies, held December 7, 1892, organized the Underwriters' 
International Electrical Association, which see. 

Electric Light Wires, Grounding of. The New York [Board of 
Fire Underwriters notified the Edison Electric Lighting Company that 
intentional grounding of any part of its equipment was a violation of 
the rules of the board, and that all ground on electric circuits must be 
removed on or before October 1, 1892. The electric company resisted 
the order, contending that its experts had declared that the grounding 
was not dangerous and the directions of the board were unreasonable. 
The board insisted on a compliance, and after a controversy which in- 
volved some bitterness the electric company yielded, whereupon the 
board instructed its survey department to resume the inspection of the 
Edison installations and plants in the city and to issue certificates of 
approval when proper to do so. IqIp 



80 Equitable LiFte Assurancb SociSTt. 

Electric Matnal insurance compaay of Boston, a company making 
a specialty of insuring electrical risks, retired from business in Jan- 
uary, 1892, its risks being re-insured by the Home insurance company 
of New York. 

Electric Railways, Fire Hazard Increased by. [See Trolley.] 

Ellerbee, W. H., comptroller-general of South Carolina, having 
supervision of insurance, was born at Marion, S. C, in 1836 His vo- 
cation is that of a planter. * He was elected to his present office in 1890. 

Ellis, George, actuary of the Travelers insurance company of Hart- 
ford, was born in that city in September, 1843. He entered the navy 
in 1863 and served through ihe remainder of the civil war, and from 
1866 to 1872 he engaged in railroad civil engineering in the northwest- 
ern states. He was appointed actuary of the Travelers in June, 1874. 

Endowment Assessment Orders. The downfall of the Iron Hall, 
the largest and most pretentious of the endowment orders, in the 
autumn of 1892, precipitated the ruin of the remainder. The relentless 
war waged upon the Massachusetts concerns by Insurance Commis- 
sioner Merrill resulted in the overthrow of the entire business in the 
state which had been pre-eminent in giving it birth and vogue. Com- 
'missioner Merrill, in his life insurance report for 1898, said: 

With the passage of the act to wlud up the affnire of the e\0\t remaining MasMcha- 
eetta endowment oraere, the last offlcial chaptvr in this cxtraortllnary craze will tie writ- 
ten, and it only renmins for the receivers to be solectiHl, and for these officers, with 
those previously appointed by decree of the courts, to close up ihe accounts and dir- 
tribute the remaining assets. The compilations of their condition disappear from the 
insurance report, and their returns no longer disAgun> the records of the department. 
During their brief existence the fifiv-six Massachusetts corporations of this class gath- 
ered a membership of 364,000, and collected from tiie certificate holders over $13,50£000. 
From this sum less than nine i)er cent, of the membership received in payment or the 
etirlier matured certificates over $3,000,000, while above $:;2,000,000 was piiid in claims 
for sickness, a laree proportion of this to certitlcato holders in excess of their contribu- 
tions, and with the natural result of the immi-diute disappearance of these enriched 
members from the rolls, at the cost of those remaining. Nearly ^,000,000 — one-half 
undeniably if not undisguisedly a steal — went into the pockets of the promoters and 
officers as "expenses," leaving ut the end only about $3,500,000 for distribution to the 
remnant of 830,000 members, only a tritle more than wus (;()bbk-d by the 30,000 who g«>t 
in "on tlie ground floor," which list, of course, included all of the " supremee," their 
'* sisters, cousins, and aunts.'' The total amount of ttie obligations upon the ccrtiBcaces 
issued by these corporations in exemplifying their wondorfiil '*new system of finance"' 



for the benefit of tJie poor ix?ople, and towunls meeting w hich a paltry $8,500,000 was 
altogether collected, was nearly $1 20,000 ,tX)0. It is doubtful if the world's history, 
whether in the South Sea bubble, th*^ Dutch tulip mania, or the Mississippi scheme, pre- 



sents a parallel to the ghost dance in which the {Myopic were led by this wild and found 
ationless gambling infatuation. 

Engineers, Fire, National Association of. [See National Asso- 
ciation of Fire Engineers.] 

Engiisli, Joel li., secretary of the i£tna Life insurance company, 
is a native of Woodstock, Vt. In 1867 he entered the Hartford office of 
the .^tna Life as a clerk, and his entire business life has been passed 
there. He was appointed secretary in February, 1872. 

Equitable Life assurance society of the United States, at the 
annual meeting held on February 17, 1893, adopted resolutions eulogistic 
of John A. McCall, upon the occasion of his retirement from the 
comptrollership, and elected Thomas D. Jordan, formerly assistant 
secretary and Mr. McCall's deputy for some time, comptroller. He 

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£tai78, Hsnkt 81 

had been with the company from its organization in 1859, when he 
was its errand boy on wages of $100 per annum, and had been pro- 
moted through successive grades for efficiency in each. The office of 
treasurer was created and Sidney Dillon Ripley, formerly cashier, 
appointed to the new position. Further appointments were Michael 
Murray, cashier ; Francis W. Jackson, auditor ; and W. P. Halsted, 
collector ; all promotions from lower grades. 

The company appointed Dr. Qrundler of Berlin, general manager 
for Germany, in March, 1892, and increased its Prussian Deposit fund 
to 16,000.000 marks. 

The Boston office of the company was reorganized in June, 1892, 
by the formation of the firm of Niver, San ford & Cranston, to manage 
the business of Boston and neighborhood. Mr. J. B. Niver had been 
the solicitor of the office for nine years. Mr. S. K. Sanford was an 
agent for a large wool house, and Mr. J. L. Cranston had recently 
graduated from Harvard and been a solicitor for the company for a 
year. 

A report having been revived in December, 1892, and circulated by 
the daily newspapers, that certain holders of the stock of the Equita- 
ble had been offered almost fabulous sums for their shares by specu- 
lators desirous of obtaining control of the company and its large sur- ' 
plus, an authorized denial was made and a statement of facts regard- 
ing the stock of the company, by an official, published. At the time 
the company was organized, though it was intended to be, as it is, 
mutual in principle, the law required the deposit with the State of 
$100,000, as a guarantee of good faith and for the protection of policy- 
holders. This guarantee capital has furnished the basis of the misrep- 
resentation of the Equitable as a stock company. The following is 
the statement : 

The incorporators of the Eqnitable deliberately limited the dividend on their capital 
for all time, to 7 per cent, (then the legal rate in New York), making it a siipiilation of 
the charter. The cflpital of the society ie therefore worth only what any other abeo 
': with a permanent dividend of 7 per cent, is worth, plus th« 
ering the holder eligible as a director, providi 
:lety to become a memlx*r of its board. The 
ch, for example, as have got on the marke 
nnected with the society, who know the vah 
pay perhaps $250 or $300 for them. They 'are not worth more. 



lately secure stock with a permanent dividend of 7 per cent, is worth, plus the additional 

- ^ "' {heisi 

are on 

„ , ^ „ itthed 

estate. Those connected with the society, who know the value of these shares would 



advantage of rendering the holder eligible as a director, providing he is invii 
conducting the society to become a memlx*r of its board. There are only t 
floating %bout, such, for example, as have got on the market at the divij 



it is false that the stockholders own the surplus. The charter settles that point 
In addition to this, oar policy contracts are so drawn that even if the charter did i 

set ^' ^ " 

of 

& the officers of the society should divert from the" policy-holders for the benefit of the 



policy contracts are so drawn that even If the charter did not 

Id be impossible for the sharet 

above the 7 per cent, on the capit , _ 

thcr or nearly earned by the investment of the capital itself). There can be no doubt 



settle Uie matter, it wouid be impossible for the shareholders to appropriate any part 
of the surplus over and above the 7 per cent, on the capital (which 7 per cent, is alto- 



stockholders a dollar of the surplus, an injunction would at once hold against them. 

The following paragraphs from the charter of the Equitable are conclusive on these 
points as to the dividend value of the stock and the interest of the policy-holders. 

Prom Art. 8 : — " The holders of the said capital stock may receive a semi-annual 
dividend on the stock so held by them, not to exceed three and one-half per cent, of 
the same." 

From Art. 6 : — '' The insurance business of the company shall be conducted upon 
the mutual plan.'' 

^^£Taii8, Henry, vice-president of the Continental insurance company 
of New York, was born at Houston, Texas, April 14, 1860. Some 
time after the close of the war ho went to New York where he was 
educated, graduating from the Columbia College School of Mines to 
enter the service of the Continental in March, 1878, as a junior clerk 

6 ........ Ogle 



d2 Fatmonyille, Bernard. 

.at $30 per month salary. In January, 1880, he left the company to 
learn the other side of the fire insurance business in the city brokerage 
office of T. B. Nutting. Jr. President Hope recalled him to the Con- 
tinental in October, and for several years he worked at most of the 
desks in the office connected with the agency department. He suc- 
ceeded the late Mr. Townsend as secretary of the agency department 
May 10, 1888, was elected second Tice-president, retaining the agency 
department, in 1889, and vice-president January 14, 1892. Since Mr. 
Evans has been an officer of the company he has done a great deal of 
field work for it all over the United States. He resides in New York 
and is a member of Tammany Hall organization. 

Erans, Nelson F., late president of the Spring Garden insurance 
company of Philadelphia, and a director of the Spring Garden Bank, 
was arrested March 7, 1892, charged with the embezzlement of $60,000 
belonging to the bank. He was tried and convicted in December 
following and sentenced to seven years' imprisonment in the peniten- 
tiary. 

Exchange Fire insurance company of New York, which reinsured 
its risks in the Lancashire of England in September, 1891, resumed 
^ business in Februcuy, 1892. It went out of business a second time in 
March, 1893, having been badly injured in the Boston fire of March 
10. 






*Fackler, David Parks, actuary, was bom in Virginia, April 4, 
1841, and is a descendent of several prominent Virginia families. He 
removed with his parents to New York in 1844, and, having completed his 
collegiate career in 1859, entered the actuarial department of the Mutual 
Life, where he remained until 1866, when he resigned to become con- 
sulting actuary in New York for a number of companies. He was one 
of the organizers of the Actuarial Society of America and its president 
in 1892. Mr. Fackler is a voluminous writer on actuarial subjects and 
a frequent contributor to the periodical press. ^ 

Factory Insurance Association. This organization in the east- 
ern and middle states is composed of the ^tna, American Fire of New 
York, German-American, Hanover Fire, Liverpool and London and 
Globe, Merchants of Newark, National Fire of Connecticut, Niagara, 
Pheniz, Phoenix of Hartford, Providence- Washington, Queen, 
Sun of London, Continental, London and Lancashire, and the Insur- 
ance Company of North America. At the annual meeting at Hart- 
ford, Conn., April 21. 1892, George P. Sheldon of the Phenix was 
elected president and J. F. Dudley, secretary. 

Factory Insurance Association, Western. [See Western Factory 
Insurance Association.] 

Failures of Fire Insurance Companies in 1892. [See Rein- 
sured and Failed Fire Insurance Companies, also Mutual Insurance 
Companies.] 

■^' Faymonville, Bernard, secretary of the Fireman's Fund insurance 
company of San Francisco, was born in a suburb of Chicago, 111., and 



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FiDBLiTY Mutual Lifb Association. 83 

passed his early years on an Illinois farm. He went into an insurance 
office in Chicago in 1874, and in 1877 migrated to California, settling 
at Fresno, where he secured the local agency of forty-three insurance 
companies. He was appointed a special agent by the Fireman's Fund 
in 1881 and its secretary in 1890. 

Ferin^BOn, Charles H., general agent of the Mutual Life insurance 
company for Illinois, was born at Oswego, N. Y., in 1846. In early 
youUi he was employed in the crockery business at Milwaukee, Wis., 
and went to the war as a member of the 89th Wisconsin volunteers. 
When he returned, he was for some time with the Chicago, Milwaukee 
& St. Paul Railway and in 1870 he entered the service of the Mutual 
Life as a solicitor. He was appointed cashier at the Chicago office of 
the company and in 1883 became the Chicago local agent and in 1887 
the general agent for Illinois. 

g^ Ferry, Dexter M., president of the Standard Life and Accident 
insurance company of Detroit, was born at Lowville, Lewis county, 
K. Y., in 1833. He was a farmer's boy, until in 1852 he went to 
Detroit and found employment in a book store. In 1856 he entered 
the seed business in the same city as a junior partner, and is now its 
bead, the company being one of the largest of its kind in the world. 
Ue was one of the founders of the Standard in 1884 and has been its 
president from the beginning and is also vice-president of the Michigan 
Fire and Marine Insurance company. 

Fidelity and Casualty company of New York. President William 
M. Richards died September 28, 1892, and at a meeting of the directors 
October 19 following Vice-President George F. Seward was elected to 
succeed him. Secretary Robert J. Hillas was elected vice-president, 
and Assistant Secretary Shaw was appointed secretary. 

Fidelity Mutual Life association of Philadelphia, Pa., was incor- 
porated under the lawa of Pennsylvania in 1878. The founder of the 
Association, L. G. Fouse, who has on principle been opposed to the 
net valuation system imposed by what is commonly known as the 
• ' Legal Reserve Law." This association was, therefore, organized un- 
der £ter laws, which, while avoiding technical liability and affording 
greater freedom in the adoption of plans, are, it is claimed, more strict 
and stringent in the matter of accountability than the '* Legal Reserve 
Laws." The *' Fouse Plans," adopted and operated by this association, 
"are adjusted in conformity with, and by, past insurance experience. 
Instead of using the ^ and d» of one of the standard mortality tables 
as the basis of the premiums and policy values, which must be done 
under the Legal lieserve Law, the \x^ and 9(«>n are taken. The 
distinction between the former and the latter is that the former 
assumes that death is the only way out of an insurance company, 
which experience proves to be untrue. The latter assumes nothing, 
but is based on fact. The symbol d(a)n represents the decrement: that 
is to say, the deaths and lapses of past insurance experience." 

The principle involved in the assessment idea is that the rate to be 
paid by the insured shall be named by the association's authority or by 
its officers, rather than fixed by law. Under the old system, or Legal 
Reserve, the net premiums and the policy values are fixed by law. 



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84 Field, Gborob^P. 

This not only makes the premium high, but exposes the insured to 
technical hazards arising from depreciation in the value of securities, 
reduction in the rate of interest, variation in mortality, etc. Under 
the improved method adopted b^ the Fidelity, the premiums are 
nearly one-third less, and the policy values, after the eighth policy 
year, become correspondingly greater than under the old system. 

The practical effect of the Improved method is to favor persisting 
members, not only by way of reducing the premiums to be paid, but 
also by enhancing the policy values in the later policy years at the ex- 
pense of the earlier years, when lapses for the most part occur. No 
valuation is made as a test of ^Ivency, but it is done quinquennially 
to determine the sufficiency of the premiums paid. If the decrement 
experienced by this company should differ materially in the course of 
five years from that of past insurance experience, it would result either 
in a surplus or a deficiency. If the former, it would be credited to the 
members under the compound bonus system in proportion to their 
respective interests; and. if the latter, it would be charged. 

if charged, a member will be given a statement of his policy ac- 
count and notice of the amount due, which he is privileged to pay 
within thirty days; or, if not paid, it will remain as a charge against 
the policy, and, together with interest at the rate of six per cent, per 
annum, will be deducted therefrom when it becomes a claim. This 
feature renders the security absolute, because the resources are flexible, 
and, therefore, adjusted to the needs of the company. Abuse of the 
flexible resources is prohibited by limiting the expense of management 
in the policy contracts. Each member contributes, after the first policy 
year, the uniform sum of $4 per |1,000 insurance, regardless of age, 
for expense of management; and all other payments made by him are 
a trust for the discharge of policy claims, and must be so applied. 

The objects for which payments are made are expressly stipulated 
and set forth in the policy contract: so much for expense; so much for 
current mortality; and so much for the Equation Fund, the purpose of 
which is to level up the cost of the insurance during the term for which 
the policy is written. 

The Fidelity is licensed in thirty five states, and at the end of its 
fourteenth year had $42,000,000 insurance in force, and a cash surplus 
of $613,000. It has paid nearly two millions of dollars in death losses, 
and its new business averages one million and a half per month. Its 
officers are L. Q. Fouse, president; O. C. Bosbyshell, vice-president; 
W. S. Campbell, attorney and secretary; Arthur Thacher, treasurer; 
S. C. Boiling, superintendent of agents. 

^ Field, George P., of Scull & Field, managers of the Royal insur- 
ance company for New England, was born at Searsmont, Me., Octo- 
ber 17, 1844. ' He was clerk in his father's agency at Belfast for several 
years. In 1866 he became assistant secretary of a local company at 
Bangor and later moved to Worcester and became secretary of the 
First National Fire. In 1878 he went to Boston as special agent of the 
Royal, under Foster & Scull. There he was successively made gen- 
eral agent and superintendent of agencies, and finally a member of the 
firm in 1886. The firm at present is Scull & Field, and it also repre- 
sents the Insurance Company of North America and the American Fire 



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FiRB Inbttrance Rbbultb in 1892. 85 

of Philadelphia at Boston. Mr. Field was president of the New Eng- 
land Insurance Exchange in 1885. 

Field Men Appointed in 1892. [See Agents, General.] 

Fire Engineers, National Association of. [See National Asso- 
ciation of Fire Engineers.] 

Fire Insurance: Financial condition and business of the princi- 
pal agency companies doing business in the United States in 1891 and 
1893. Comparative statement. [See Tables in Appendix.] 

Fire Insurance Companies Failed in 1892. [See Reinsured 
and Failed Companies, also Mutual Fire Insurance Companies.] 

Fire Insurance Company of the Conntjr of Philadelphia. 
Secretary Charles R. Peck was elected vice-president and Frank M. 
Crittenden, secretary in May, 1892. 

Fire Insurance in the Courts. [See Legal Decisions Affecting 
Insurance.] 

Fire Insurance Policy. [See Policy, Standard Fire, also Cotton 
Policy forms.] 

Fire Insurance Results in 1 892. The salient incidents of the 
Tear in fire insurance were, the application of the eighty per cent, co- 
insurance clause to an important class of risks in many localities, the 
formulation of the *' Universal Mercantile Schedule," and the enforce- 
ment of the fifteen per cent, commissions rule upon the local agents 
within the jurisdiction of the South Eastern Tariff Association, and that 
of the New England and Middle States, through the newly organized 
commission association. 

The following general statement of the business of the year 1892 was 
compiled from the tabular matter accompanying the address of the 
president of the National Board of Fire Underwriters at the annual 
meeting of the board in May, 1893. The national board statistics cover 
the business of 251 joint stock American and foreign companies, and 
are therefore: the most extensive prepared : 

AMERIOAN AND FOIIBION COMPANIE!*. 

Number of companies, ...... 851 

Fire riiiks written, $16,386,017,094 

Fire premiamH received, ....... 130,545,276 

Fire loesH* paid 81,042,875 

Fire and inland premiunui received, ..... 185,087,981 

Fire and inland ezpcnHeti pnid, ...... 48,534,676 

Per cent, fire lo»*se« to Are premiumH, ..... 62.08 

Per cent Are and inland expenscH paid to premiume received, 85.93 

Per cent, fire 1ohm» to fire nnka written, .... .65867 

Average rate of fire premiam on each $100 of Are r\»kjB written, . .6485 

AXSRIOAN COMPANIES OKLY. 

Namber of companies, ....... 326 

Capital, $67,977,366 

Dividends paid in 1892, 6,576,620 

Per cent, or dividends to capital, ..... 9.67 

The following general statement of the fire insurance business of 
1892 is compiled from the New York fire insurance report for 1893. 
The statistics cover practically all the principal joint stock insurance 
companies doing business in the United States : 



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86 FiRB Prbyshtion bt ths Corokbr Plah. 

riRB INBrRANCE BrSINEHH ONLY. 

Namber of companleti, ....... ISO 

ARiH'tP (not including afifioUi held abrond), .... $932,945,090 

LittbilliieH (c'xc*-ptinjr wrip and capit.il). .... 130,667,589 

Capital (inclnding forei^ depooit capital), .... 67,(K5^0t<8 

SurpliiH 54,708,686 

Pn>nilum8 received, ....... 194,066.350 

Total receipt*, 133,a0S.0M 

LoH(H>8 paid, ... ..... 78.384,169 

DIvidendH paid (American companicH only), .... 6,474,f!3 

Total dl8burHement». ....... 197,45£969 

Amount of ritnk^ in force, ...... 16^705,821,066 

Fire Insurance Statistios, Census Report of. [See Insurance 
Statistics, Census Report.] 

Fireinen*s insurance company of Cincinnati, reinsured ita business 
in June, 1892, in the Merchants and Manufacturers of < the same dty. 
Ttie Firemen's was incorporated in 1882 and was therefore 60 years 
old. 

Fire Patrols, Association of Superintendents of. [See Associ- 
ation of Superintendents.] 

Fire Patrols, Protectlye Departments, and Salrage Corps. 

The fire patrols of the United States are a monument to the enlightened 
self interest of the fire underwriters. They have made them what 
they are, and, in nearly all cases, they support them. The interest 
that they have in the preservation of property is certainly a great in- 
centive toward efi[icicncy, and it is probable that, no matter whether 
city governments undertake the control and maintenance of the salv- 
age or not, insurance companies are liliely to augment any action of 
cities toward the preservation of property from fire loss to the fullest 
extent. New York city was the pioneer in these organizations. In 
1839, a number of fire underwriters of New York established a society 
that was known as the "Fire Police." Although it had no charter 
the society was recognized by the city authorities as a useful institu- 
tion, having for its function the protection of property, and in cases 
of fire its members were given certain police powers. The efiSciency 
of the municipal police, however, soon rendered this part of their 
activity less important than the protection of property against damage 
by the element, and they then gradually became known as the " Insur- 
ance Patrol." The act of May 9, 1867, incorporating the New York 
Board of Fire Underwriters, gave that organization the power to es- 
tablish the present efficient fire patrol of the city of New i ork. 

These organizations exist in the cities of Albany and Auburn, N. Y., 
Baltimore, Boston, Cincinnati, Charleston, Chicago, Dayton, O., I>en- 
ver, Kansas City, Louisville, Lowell, Memphis, Milwaukee. Mobile, 
Newark, N. J., New Orleans, New York, Omaha, Philadelphia, Phrov- 
idence, Rochester, San Francisco, St. Louis, and Worcester. They 
are established by law, and, as a rule, are maintained and controlled by 
the local organizations of fire underwriters. [See Boston Protective 
Department, New York Fire Patrol, Association of Superintendents 
and Captains of Fire Patrol.] 

Fire Prevention by the Coroner Plan. At the annual meeting 
of the Fire Underwriters' As£ociation of the Northwest, at Chicago, 



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Fires in Principal Cities in 



87 



October 8, 1891. Mr. C. C. Hine presented his plan of fire inquests by 
coroners as follows : 

In the proflecation of this scheme It will not be necessanr to create new offices and 
additional expenses, but merely to enlarge the powers and the field of duty of the 
coroner now in office. The law must compel him to examine every fire, large or small, 
in anv sort of property burned within his jurisdiction, for the purpose of ascertaining 
its ongin and cause. He must have the same powers as in cases of death, to impanel 
juries, to enter premises, to appoint assistants, and to do or cause to be done such 
things as may be necessary to ascertain the causes of fire. He must make a full report 
of each case to the county clerk, or some other county officer, and monthly or annually, 
to report to the auditor of state, who shall collate and publish the fire statistics so ac- 
quired, particularly in regard to the causes of fires that might haye been avoided by 
better police, better building or otherwise, to the end that property may be saved, and 
the future fire-waste diminished. 

In cities where there are fire marshals or other officers charged with duties In con- 
nection with fires. It must be compulsory that they Investigate every fire for the ascer- 
tainment of its origin. If it were known that every fire was to be officially investi- 
gated for the express purpose of ascertaining its origin ; that a public officer had power 
to enter upon and examine premises, empanel juries, send for persons and papers, ex- 
amine witnesses under oath, and that he would do it, incendiary fires would be dimin- 
ished If they did not practlodly cease. 

Although bills embodying the features of this plan were introduced 
in the New York. Texas, and other legislatures in 1892 and 1898, none 
have yet been enacted into laws. 

Fires in Principal Cities in 1892, Statistics of: The follow- 
ing table, exhibiting number of fires and insurance thereon in principal 
cities of the United States in 1892, was compiled from a statement pre- 
pared by the committee on statistics of the National Board of Fire 
Underwriters: 



cities. 


Total 
Number 
of Fires. 


Total Loss 
Thereon. 


Total 
Insurance 
Thereon. 


Total Insur- 
ance Loss 
Thereon. 


No. of 
Fires to 
1,000 Pop. 


Akron, Ohio, . . 
Albany, N. Y., . . 
Allentown, Pa., . 
Atlanta, Oa., 
Auburn, N.Y., . 


*64i 
86 

S58 
41 


$122,167 

684.K69 

5,246 

98,442 

86,022 


70,100 
1,067,960 


$7-2,479 
466,204 

24",i22 


3.86 
5.57 
1.16 
2.53 
1.46 


Baltlmoro. Hd., . 
Bangor, He., 
Binningham, Ala., . 


98 
S6 
1,168 
68 
163 


829,877 

2,200 

1,449,766 

24,440 

86,030 


408,700 

4,818,892 
88,800 
842,400 


271,097 

2,000 

1,816,591 

20,440 

75,000 


2.21 
1.04 
2.40 
2.91 
4.84 


Bloomington,!!!., 
Boston, Mass., . 

Brooklyn, N. ¥.,♦ 


76 

754 

78 

89 

1,433 


14,760 

846,396 

88.462 

161,421 

1,608,591 


40,700 

8,481,061 

217,650 

880,788 

5,920,620 


18,760 
781,949 

83,305 
122,886 


8.00 
1.69 
1.56 
3.62 
1.86 


Bnfitelo, N. T., . . 
Bntte, Mont, . . 
Cambridge, Mass., . 
C»mden,T«. J., . . 


488 
80 

208 
99 
47 


811,751 

*226',29i 
86,575 
63,091 


1,782,267 

800,000 

881,494 

66,825 

248,269 


"1*92,666 

168,171 

29,710 


1.61 
2.66 
2.66 
1.70 
.76 


Chelsea, Mass., . 
Chicago, ni.. 
Cincinnati. Ohio, 
CleTeland, Ohio. 
Coboes, N. Y., . 


87 
8,549 

818 

1^ 

63 


29,684 
1,546,570 
1,017,861 
1,608.129 

78,779 


96,460 
18,620,674 
8,110,499 

976,400 


16,554 

1,640,268 

858.771 

1,825,093 


3.00 
2.46 
2.58 
8.64 



• Betnms for 1891. 



88 



FiREB IN Principal Cmss in 1892. 



CITIES. 


Total 
Number 
of Fires. 


Total Loss 
Thereon. 


Total 
Insnrance 
Thereon. 

801,035 

'488.899 
546,965 


Total Insnr- 
ance Loas 
Thereon. 


Naol 
Fires to 
1,000 Pop. 


Colombne, Oa., . 
Colnmbas, Ohio, 
Covington, Ky., . 
Dayton, Ohio, . 
Dallaa, Tex., . . 


18 

tan 

49 
193 
IHO 


$35,000 
443,693 

"isioM 

l»i,888 


$27,562 

"47,983 
48.475 
69,669 


.58 
S.SS 

1.25 
2.73 
&10 


Des Moinee, Iowa, . 
Detroit, Mich., . 
Daluth, Minn., . 
Klraira, N. Y., . . 
Erie. Pa 


ao3 

542 

78 
104 
90 


"55b'.539 
147,155 


216,150 
3,996.453 
516.500 
413,396 
608,466 


118,517 - 

"89,701 
123,014 


8.36 
2.46 
1.06 
2.07 
1.76 


Evaneyille, Ind., . 
Fitchburg, Mass., 
Galveston, Tex., 
Grand Rapids, Mich., . 
Harrisbnrg, Pa., . 


108 
84 
118 
344 
88 


110,600 
25,9m 
46,8-J7 

151,155 


9,700,000 
116,190 
810,983 

1,893,897 
838,960 


86.500 
18.068 
46,837 
183,531 
91,424 


2.11 
8.00 
8.87 

in 

.05 


Hoboken. N. J., . 
Holvoke, MftHB., . 
Indianapolis, Ind., . 
Jersey City. N. J., 
Kansas City, Kan., 


03 

80 
860 
473 

184 


"8.V.i6i 

804,369 
638,983 
147,360 


1,667,836 
1,935,450 

' »»',428 


"8b;647 

'684',8ii 
112,075 


1.84 
2.10 
8.00 
8.06 
4.60 


Kansas City, Mo., 
Key West, Pla., . 
Knoxvllle, Tenn., 
La Crosse, Wis., . 
Lancaster, Pa., . 


668 
1 
79 
64 
47 


479,688 
13,500 
51.849 
13.511 

183,668 


5,820,626 

13,500 

484..')35 

102,860 

400,368 


468.089 
13.500 
85,878- 
18,511 

188,068 


4J9 

.04 
1.98 
2.18 
1.84 


Lawrence, Mass., 
Lexington, Ky., . 
Lincoln, Neb,, . 
Los Angeles, Cal., 
Louisville, Ky., . 


77 
111 
117 
166 
207 


80,131 
80,9;t9 
32.435 
100,000 
413,053 


83.060 

l,b9b',67b 

i.aw;28i 


28,234 
"^,435 
■ 4(»',375 


1.64 
8.70 
1.05 
8.68 
1.04 


Lowell, Mass., . 
Lynchbnrg, Va., . 
Lynn, Mass., 
Macon, Ga. , 
Maiden, Mass., . 


899 

'267 
99 
78 


50,393 

143,709 
82.3.-)6 
40,000 


616.475 
317,3.-.0 
853,565 

' "9,597 


2,174 

1«,694 
* "8;592 


3.64 
8.24 
4.20 
8.07 
243 


Memphis, Tenn., 
Meriden, Conn., . 
MinneHpoliit, Minn., . 
Mobile, Ala., 
Montgomery, Ala., 


"42 

576 

69 

61 


35,346 
43:3,344 

' 2b3",636 


1,995.610 
67S.590 

4,(a7.(Ki 
126,515 


876,893 
34,105 

837,597 
18.941 

201,140 


295 
1.66 
2.88 
1.78 
2.44 


Muskegon, Mich., . 
Nashua. N. H., . . 
Nanhville Tenn. 


166 
51 
216 
163 
864 


42,308 
19,960 

"43,749 
536,871 


792,4.38 


"l'8',660 

493,988 

82,609 

484,798 


6.53 
2.42 
2.80 


New Albany, Ind., , 
Newark. N. J., . . 


4,085*960 


6.48 
1.8S 


t^ew Haven, Conn., . 
Newport, Ky . . 
Newport, R. I., . 
New Orleans, La., 
Newton, Mass., . 


S54 

'*64 
682 


174,8W 

2,690 

248,403 


98*^850 

54.900 

334,3:39 

6,196,471 


161,880 
MO 

8,476,604 


8.88 
S.4« 
8.70 
8.78 



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FiRBB IN Principal Cities in 1892. 



CITIBS. 


Total 

Number 
of Fires. 


Total Loss 
^Thereon. 


.Total 
'Inenrance 
Thereon. 


Toul Insur- 
ance Loss 
Thereon. 


No. of 

Fires to 

1,000 Pop. 


New York, N. Y.,' . 
Norrlstown, Pa., 
Ogden, Utah, 
Omaba. Neb., 
Oflwego, N. Y., . 


4.011 

71 
238 

;89 


$5,060,973 
100 


$86,517,835 
20,000 
128,025 

'738',676 


$4,484,944 

100 

24,187 

'218,425 


2.24 
1.00 
855 
1.67 
a56 


Paterson, N. J., . 
Pawtucket, R. I., 
Peterebure, Va., . 
Philadelphia, Pa., . 
Portland, Oregon, 


232 

87 

42 

1,410 

250 


43*,i75 
'678*.885 


1,980,801 

42,876 

149,886 

19,188,628 

1,091,005 


69,141 

"96*,468 

2,877,462 

460,720 


2.90 
2.90 
1.82 
1.84 
8.12 


Ponphkeeprie, N. Y., 
Providence, R. I., 
QniDcy, 111., 
Reading, Pa., 
Rocheeter, N. Y., . 


86 

628 

81 

54 

248 


"227,216 
"87',866 


S,b85",755 
164,690 
780.000 

2,260,452 


16,128 

195,141 

16,449 

77,267 

179,420 


1.62 
8.66 
2.25 
.76 
1.71 


Rockford, HI., . 
Saginaw, Mich., . . 
St. Joaeph. Mo„ . 
St. Loois. Mo., . . 
St, Paul, Minn.. . 


180 
176 
180 
928 
413 


80,875 
89,098 
125,166 


667,700 
158,160 

7,^,769 
1,188.891 


26,954 

■ii'8,756 

1,629,154 

880,184 


4.83 
8.52 
8.00 
1.68 
2.51 


Salt Lake City, Utah, . 
Salem, Maan.. . . 
Seattle, Waf>h., . 
San Francisco, Cal., . 
Sarannah, Oa., . 


184 
62 
148 
680 
208 


118,088 

14,187 

411,183 

1,098,151 

166,887 


449,894 

101,568 

1,678,376 

8,971,717 

1.176,900 


109,648 
10,988 

* 68b',66i 
139,002 


S.44 
1.67 
2.96 
1.96 
8,28 


Scranton, Pa., . 
Sionz City, Iowa, 
Somervilie, Maas., 
Sonth Bend, Ind., 
Spokane, Wanh., 


148 
163 
97 
64 
98 


142,681 
8-2,2» 
71,760 
26,106 

834,162 


674,042 
1,445,496 
264,900 
»J,260 
918,927 


120,546 
68,612 
57,982 
84,000 
91,178 


1.74 
8.62 
2.16 
2.90 
8.10 


Springfield, 111., . . 
Springfield. Mass., . 
Springfield, Mo., 
Syracnsc, N. Y., . 
Tacoma, Waah., * 


64 
140 
90 

117 


9,880 
123,243 

60,000 
141,487 

26,203 


82,036 
918,000 

1,132,887 
878,720 


8,492 
123,248 

80,000 
188,276 

19,309 


1.54 
2.90 
8.60 
2.24 
2.84 


Taunton, Ma^s 

Terre Haute, Ind., . 
Toledo, Ohio, 
Topeka, Kan., 
Trenton, N. J., . . 


84 

269 
146 
96 


22,618 

274,728 
48,615 
106,550 


681,000 

1,738,488 
695.900 
102,695 


18,471 

817.934 
28,702 
102,695 


8.11 

2.69 
3.22 
1.60 


Utica. N. Y., . . 
WaPhlngton, D. C, . 
Waterbnry, Conn., 
Wheeling, W. Va., . 
Wllkeabarre, Pa., . 


87 

841 

89 

90 

.... 


46,028 
162,0S6 
215,999 
25,000 
49.600 


805,866 


44,528 
108,866 
165,186 


1.98 
1.32 
1.11 
2.00 
.96 


Williamsport, Pa., . 
Wilmington, N. C, . 
Winona, Minn., . 
York, Pa., . . . 
ZaneBville, Ohio, 


65 
20 
80 
16 
Ti 


69,W?6 
28,860 
7,294 
14,845 
45,000 


"68.856 
822,620 

'i27",23i 


88,666 
26,000 
6,031 
14,509 
86.360 


1.60 
.95 
4.00 
5.33 
8.27 


5* 








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ooQle 



90 Fire Underwriteiw' Abbociationb. 

Fires In 1892, Principal. The fire at Milwaukee. Wit., October 
28, was the largest of the year. It burned over several blocks of 
business property and small dwellings, involving a loss of about 
$8,375,000 The other larcest fires were at New Orleans. February 
17, business blocks, $1,100,000 : at New Orleans, April 3, cotton 
presses and dwellings, $1,850.000 ; at Baltimore, June 14, wharf and 
stock. $1,000,000 : at Bay City. Mich., July 26, business houses and 
dwellings, $1.200,000 ; at Memphis, Tenn., February 8. business 
houses. ~ $850,000 : at Crede, Col., June 5. general conflagration. 
$750,000; at Rockaway Beach, N. Y.. September 20, general con- 
flagration, $750,000. 

Fire Underwriters' Associations. €leneral, Sectional, and 
State. The following is a list of the various general organizations of 
fire underwriters. The list does not include local associations or 
boards. 

srPERVIMNO Aim RATING 0ROANIZATI0N8. 

New England Insurance Exchange (covering the New England St^tep, except Maine 
and New Hampshire). 

Underwritcn* AKsociatlon of the Middle department (covering New Jersey in part, 
Pennsylvania. Dcla\vHn\ Maryland, and the District of Columbia^. 

South Eastern Tariff Association (covering Virginia, North Carolma, Sooth Caro- 
lina. Florida, Georgia, Alabama, Mississippi, and Louisiana). 

The rnion (covering Indiana, Illinois, Wisconsin, Minnesota, Iowa, Nebraska, 
North Dakota. Sonth Dakota, Oklahoma, Indian Territory, Missouri, Kentucky, and 
Tennessee, and jolntlv with the Pacific Insurance Union, Colorado, New Mexico, 
and Wyoming, but excepting the cities of Chicago, St. Lonis, Louisville, and Cincinnati, 
with Covington and Newy>ort, Ky.). 

Pacific Insurance Union (covering the Pacific coast states, Idaho, Montana, and 
Utah, and jointly with the Union, Colorado, New Mexico, and Wyoming). 

Underwriters International Electrical Association, 

New Hampshire Board of Underwriters. 

New England Bureau of United In8p<'ction. 

Massachusetts Mutual Fire Insurance Union. 

Factory Insurance Association (New England). 

Middle States Insi>ection Bun'au. 

Underwriters Association of New York StAt«. 

Fire Underwriters (Commissions^ Association. 

Suburban Underwriters Association (covering parts of Westchester, Kings, and 
Queens counties of New York, and several counties of New Jersey). 

Wisconsin State Board of I'nderwrit^TS. 

Indiana Association of Fire Underwriters (Union companies). 

Indiana League of Fire Underwriters (non-Union conpanies). 

Michigan State Inspection Bureau. 

Illinois State Board of Fire Underwriters. 

MinnesotA and Dakota Fire Underwriters. 

Iowa State Inspection Bureau. 

Iowa Underwriters Association (Union companies). 

Association of Fire Underwriters of Missouri. 

Association of Fire Underwriters for Arkansas. 

Kentucky and Tennessee Underwriters Association. 

Western Factory Insurance* Association. 

Southern Factory Association. 

In consequence of the existence of anti-compact laws in' Ohio, Michigan, Kansas. 
Nebraska, and Texas, the state associations formerly active In those states are dead or 
dormant. In New Hampshire the prohil)ition of a compact does not apply to local com- 
panies, and accordingly a New Hanipshire Board of Un<lerwriter8, representing local 
companies, Is in force and makes rates, and these are genenilly observed oy the non-state 
companies, througjh the New England Insurance Exchange. Since the passage of the 
anti-compact law in Maine, the Exchange has ceased to exercise direct jurisdiction o\*cr 
that state. 

The Michigan State Inspection Bureau Is conducted by the local flro com- 
panies, like the New Hampshire Board, and the non-state companies abide by its rates. 

The jurisdiction of the Union and the Pacific Insurance Union is concurrent in 



FiBB Undbbwbitbrb' Associations. 91 

Colorado, New Mexico, and Wyoming, and le proyidcd for by a Joint committee over a 
compact mana^r. The western state associations occupy semi-independent relations 
towards the Union, bnt work in harmony with it as a rule, althongh most of them are 
partly constitated of non-Union companies. The Union deals with them or their 
states throagh its seTeral '* Commissions/^ [See Union, western.] 

The large cities, such as New York, Philadelphia, Baltimore, Chicago, St. Lonis, 
etc., are ^* excepted " from the jurisdiction of the general or state associations and are 
go^med by their own local associations. 

The National Board of Fire Underwriters, formerly a rating organization covering 
the entire Union, makes rates no longer, but it offers rewards for the detection of in- 
cendiaries and maintains an inspector of fire departments and water works, whose 
recommendations are usually adopted by the companies composing the board. It keeps 
a statistical record of flre insurance, watches the course of Insurance legislation, and, 
generally, acts as a moral force for the well being of flre underwriting. 

BOCIAX OBQANIZATIONS. 

Fire Underwriters Association of the Northwest. 

Fire Underwriters Association of the Pacific. 

New York State Association of Supervising and Adjusting Agents. 

New York State Association of Local Boards. 

New Jersev Association of Fire Underwriters. 

Michigan Association of Fire Underwriters. 

Indiana Association of Local Fire Insurance Agents. 

Local Fire Underwriters Association of Virginia. 

Pennsylvania Association of BHre Insurance Agents. 

Mountain Field Club (Colorado, Wyoming, and New Mexico). 

Nebraska Field Club. 

{Sunflower Club of Kansas (Kansas, Oklahoma, and Indian Territory). 

Florida State Underwriters Association. 

Texas Local Fire Underwriters. 

Fire Underwriters (Commission) Association. This associa- 
tioD, hayiDfT for its primary purpose the limiting of commissions to 
agents to fifteen per cent, and of brokerages to ten per cent, was 
organized in the latter part of 1891, and put into operation in January, 
1892, by a number of companies, to cover the territory embraced within 
the New England States and the states of New York, New Jersey, 
Pennsylyania, and Delaware. 

The following was the original agreement: 

AoBBSvSNT. The flre insurance companies named below, by the signatures of 
their execative offleen, pledge their honor to the strict observance of this agreement; 
that they will give the necessary instructions to their agents and subordinate offleen 
in order that the same may be effective, and that they will not bv the slightest devia- 
tion ttierefrom depart from the letter of this agreement, and will in good faith 
observe its spirit, which is hereby declared to be a uniformity in the compensation of 
agents. 

1. We agree, that we shall compensate agents by a flat commission not exceed- 
ing 16 per cent, on net premiums. 

S. We agree, that no compensation other than the foregoing, either in the form 
of ofllco rent, clerk hire, solicitor^ fees, or salary, or in otner ways, directly or In- 
direetly^hall be paid to anv agent. 

S. We agree, that no advertising charges be allowed, save on receipted bills of the 
printer for the amount charged, sent as vouchers with the account current. 

4. We agree, that the postage allowance shall be only for actual postage paid. 

5. We agree, that we will not ourselves pay, nor allow any agent to pay, any 
brokerage in excess of ten per cent, on the net premiums to either companies, 
brokers, solicitors, or other agents, it being understood that brokerage shall (in tne case 
of the agent) be paid out of his commission, and shall not be an additional compensa- 
tion to the agent, except as is provided for in Article 8 ; and we also agree not to allow, 
either as brokerage or commissions, over ten per cent, on any policies written at our 
hc«d ofllcet, or atany branch or agency offlce wherever located, covering propertv in 
any locality outside the city where such office is located and within the territery 
corered by this agreement. 

0. In case any company elects to appoint one salaried representative In any one 
city, be shall not be permitted to act for any other company, and shall be under the 
me restrictions as to brokerage as are imposed on other agents. ^^ t 

7. We agree, not to allow the payment of any rebate whatever, ^ed by VjOOQ IC 



Od FiBB Undsbwriters' AftSOCIATIOira. 

8. We agree, that in the city of Providence any company may remonerate ita a^nt, 
in addition to the 15 per cent heretofore provided, by an allowance of five per cent 
on rtaka located in that city, and on aoch riiik8i>o located, brokerage not exceeding 15 
per cent, may be paid ont of the agent^a commlaeioni 

V. We agree, that thin agreement nhall be applicable to the New England States, 
and the states of New Tork, Pennslyvanla, Delaware, and New Jeraey, except In the 
fbllowin? placep, vir.. : 

New York City, inclnding ao much of Westcheeter Connty a» Ilea to the eonthward 
of the northerly line of the townBhlpn of Greenbnrg, White Plains, and Harrison, and 
the counties of Kings, Queens, and Richmond, N. T.; Albany, N. T., and Bnffklo, 
N. Y.: Boston, Inclndtng the rest of Suffolk County, and the cities of Cambrldce, 
Somervllle, Maiden, Waltham. Newton, and Qntncy. and the towns of Brookline, 
Everett, Melrose, Arlington, Belmont, Watertown, Wellesley, Needham, Dedham, 
Hyde Park, and Milton, Mass.: Philadelphia, and the counties of Delaware, Cheater, 
Montgomery, Bucks, and Alleeheny, Pa.: in New Jersey the counties of Camden, 
Bergen, Essex, Hudson, and Union. 

10. That we agree to observe strictly, in letter and spirit, for ourselves and our 
agents, the tariff rates in all vl\&cc* where local boards or ratings are in existence, or 
shall be established, except tnat if at any place or places it shall be found that com- 
panies not members of this association are securing desirable classes of risks tbroagh 
the payment of commissions or brokerage in excess of what is permitted by our rales, 
the rates upon such classes shall, upon the request of a majority of our members do- 
ing basineea in such places, be so readjusted as to enable us to meet such competition. 

11. We agree, to terminate all contracts inconsistent with this agreement on or 
before the date when it shall take effect. 

13. We agree, that any company, a subscriber to this agreement, mav withdraw 
ita signature by giving ninety days* notice to the secretary of this association, who 
shall thereupon notlry all the other aigners, and we agree, pending the expiration of 
such notice, to abide strictly by the terms of the agreement. 

Articles 6, 6, 8, and 0, have been modified by subsequent legisla- 
tion in the association, to meet varying or new conditions as they nave 
arisen. 

The following are the signers to the agreement. A number of com- 
panies not members are in harmony with the rules of the association : 

ITew York Companies. American, Citizens, German- American, Greenwich, 
Hanover, Home, Niagara, Phenlx. Queen, Westchester. 

Eastern Companies. Mtn&, Boylston, Flreman*s Fnnd (Boston Ofllca), Hartford. 
National, Orient, Phcenix, Springfield, Providence-Washington, Equitable. 

PhUaddphla Companies. American Pire, Delaware. Fire Association, Pire Insur- 
ance Company of the County of Philadelphia, Franklin, Girard Fire and Marine, In- 
surance Company of North America, Insurance Company of State of Pennsylvania, 
Mechanics^ Pennsylvania, Reliance, Spring Garden, United Firemen^s, Union. 

Newark Companies. American and Firemen's, for New Jersey only. Merchants' , 
Newark Fire. 

FOrdfrn Companies. British America. Caledonian, Commercial Union. Guardian, 
Imperial, Lancashire. Lion Fire, Liverpool and London and Globe, I^ndon Assurance. 
London and Lancashire, Manchester, Norwich Union. North British and Mercantile, 
Northern, New York and Boston Offices, Phopnix, Royal (Boston, New York, and 
Philadelphia Offices), Scottish Union and National, Union of London, Western of 
Toronto. 

The following are the present officers and' executive committee of 
the association : 

Geo. P. Sheldon, president; Geo. L. Chase, vice-president; Wm. H. Crolins, 
treasurer; H. K. Miller, secretary. 

Executive committee; Charles Sewall, chairman* E. A. Walton, Wm. B. Clark, 
E. L. Ellison, J. H. Washburn, E. C. Irvln, H. W. Eaton, Jno. W. Murray, Henry 
Powles. 

Fire Underwriters' Association of the Northwest. This associ- 
ation had its birth in the city of Davton, O., February 22, 1871, when 
fifteen state and general agents of Ohio, Indiana, Illinois, and Michi- 
gan met and declared that: 
Whsrbas, Certain irregularities obtain among adjusters in the settlement of losses. 



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Firs Underwriters' Absociations. 93 

amons solidtorB In aathorizliig riskB, and among local agente in procaring buainese, 

tiierefore, 

Besolr-ed^ That we, state agents of the Northwest, in convention asaembled, recog- 
nizing our positions as sabordinates, disclaiming anv invasion of the jurisdiction of our 
superiors, and attempting only such action as legitimately comes within the scope of 
oarde]^at«d authority, do hereby organize onrselves into an association for the pur- 
pose of promoting harmony and correct practices among the profession. 

The title adopted was *' The Association of State, General, and Ad; 
justing Fire Insurance Agents of the Northwest." 

The oripnal fifteen members, the creators of the association, were 
the following: J. 8. Reed, Ohio state agent of the Security of New 
York and Merchants of Hartford; W. F. Fox, Ohio state agent of the 
Putnam of Hartford; G. K. Snider, general agent of the New York 
Underwriters' Acrency; C. W. Marshall, Ohio state agent of the Home 
of New York; Jacob Peetry, general agent of the Home of Columbus, 
O. ; J. P. Vance, Ohio state agent of the Insurance Company of North 
America; James A. Daniels, Ohio state agent of the Hartford Fire; R. 
8. Savers, special agent of the Home of New York; J. W. Boyd. 
Bpecial agent of the Home of New York; C. K. Drew, special agent of 
the Hartford Fire; W. H. Willsie, Indiana and Ohio state agent of the 
Continental; A. 0. Blodgett, Indiana, Ohio, and Michigan state agent 
of the Franklin Fire of Philadelphia; J. I. Shipherd, assistant secre- 
tary of the Cleveland insurance company; E. P. Foreman, special 
agent of the Lamar of Chicago; C. E. Bliven, Ohio state agent of the 
Manhattan of New York. The names of but four of these organizers 
now remain on the membership roll of the association: Fox, Snider, 
Blodget, and Bliven. Another circumstance is that of all the com- 
panies which the fifteen organizers represented but seven are now in 
existence. 

The officers elected at this first meeting were: President, J. S. Heed; 
vice-president, R. L. Douglass (of the iEtna); secretary and treasurer, 
C. E. Bliven. The executive committee were Messrs. Wiltsie, 
Blodget, and Fox. 

At the second meeting, which was the first regular meeting, held in 
June following at Indianapolis, twenty-nine additional members were 
admitted, a constitution adopted, and officers for the first year 
elected as follows: President, A. C. Blodget; vice-president, C. W. 
Marshall; secretary, C. E. Bliven; executive committee, G. W. Adams 
(of the Lorillard), H. H. Walker (of the Home of New York), and F. 
J. Cresscy (of the Pacific of San Francisco). 

The third annual meeting was held at Chicago, the fourth at Mil- 
waukee, and the fifth at Louisville. All subsequent meetings have 
been held at Chicago. 

At the sixth annual meeting a revised constitution was adopted and 
the name of the organization changed to that which it now bears. 



The twenty-third annual meeting of the association was held at Chi- 
cago September 37 and 28, 1892. President H. P. Gray presided. 
The secretary reported thirty applicants for membership, and they 
were elected. His report showed the total membership of the associa- 
tion to be 889 active, eight honorary, and one associate, making 848 
in all. 



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H FiRB UNDERWRTrBBS' ASSOCIATIOKB. 

President Gray in addressing the association said that the preceding 
year had been one of the most di^^astrous in the history of the business, 
resulting in the retirement of some sixty companies by re-insurance 
and one out-and-out failure. He regarded the practice which had 
grown in the business, that of the reinsuring of failing and retiring 
companies, as a perfect " Pandora box of evils." It bad attracted to 
Che business parasites and charlatans whose onlr effort was to ^t 
enough business on their books to make it an object for some legiti- 
mate company to buy. It had demoralized agents and educated the 
assured to the belief that one policy contract is the same as another, 
and it had educated the legislator to think that the business is not 
amenable to any of the laws of supply and demand, and had rendered 
him only too ready to yield to the popular demand for hostile legislation. 
The president's address was referred to a committee of five. 

The annual address was delivered by Mr. Abram Williams, general 
western manager for the Connecticut Fire. He criticised the com- 
panies for not Keeping the middle path between conservatism and de- 
moralization, and referred to the retirements in the last year and the 
consequent loss of so much taxable capital. He reviewed the career 
of the late Armstrong boom and declared that what Armstrong saved 
in expenses was eaten up in losses. The speaker deprecated re-insur- 
ance of old hulks by large companies. The former were organized to 
fight the latter, they cut rates, demoralized business, and vet could al- 
ways find some big company to take them in when ready to retire. 
He regretted to announce the abandonment of the World's Fair insur- 
ance exhibit and charged President Whiting of the Orient with incon- 
sistency in this matter. The national board companies had addressed 
the president of the United States, asking him to call the attention of 
congress to the enormous fire losses, and their plaint was thrown into 
the waste basket, while they had refused to use the moans at their very 
hands in the World's Fair to educate the people on this subject. He re- 
ferred to the many different constructions put on the 80 per cent co- 
insurance clause, and said the matter should be understood first by 
underwriters before they attempted to explain it to the public. When 
salaries and expenses exceeded 7 per cent, of the income in a given 
field the special agent was unprofitable. He recommended the English 
custom where the company with the largest line on a risk assumes 
full charge of the loss, prorating the expenses among other companies. 
In conclusion he denounced the policy contract now in use as com- 
plicated and bewildering to the assured and leading to litigation and 
hostile legislation, and submitted a form of his own, which, while it 
embraced all the essential conditions of the standard policy, presented 
them in such simple language that nothing could be misunderstood. 
His simple form was as follows: 

The iDsnrance company hereby hgreos to indemnify to the ex 

tent of three-fonrthB of all direct damages to tbc property herein deecrlbed by flre« oc- 

cnrrln^ between 12 o'clock noon 18.., and 12 o'clock noon 18.., the liability 

hereunder being limited to an aggresato of $ ; provided^ hoicfrfr, that thiacom- 



nereunaer Demg limited to an aggresato or S ; proridcd, hott^fr, that tnia com- 
pany shall pay only lt« proportion of gnch three-fourths pro rata with the total inmir- 
ance. Provided^ aUfO, tnat the asrared shall give the company prompt notice of all 
^ ,^-« __^ ., . . ... , Vail permit theo 

lonable informal 
nit the qaeetioE 

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flree; shall endeavor to save the propertv from further damage: shall permit the com- 
pany to examine and Investigate: shall famish, under oath, all reasonable information 
required by the company; and shall in case of disagreement submit the question of 



Fire Undbrwbitbrs Assogtatioks. 95 

amoant of damaf^ to the property to two disinterested appraisers —one selected by the 
a«mired, and the other by the company — the appraisers selecting a third If necessary, 
and the award of any two determining snch amount. T^rovifle/l, fin thei'tiun'e^ that no 
claim for which there may be a liability hereunder, shall be due or payable until sixty 
days after rendering of proof thereof, nor that until any suit or action at law shall be 
maintained against the company unless commenced within one year from date of the 
fire. 

Form qf Policy. 

The consideration for this agreement is the payment of premium and the 

following warrantees by the assured in respect to the property. Which may be varied 
only by written endoraeraent by an agent or officer of the company hereon, namely: 

That the sole and andispnted ownership of the property is and shall remain vested 
in the assared, without liens or incumbrances except, as to realty, first mortgage or 
tniet deed, without foreclosure proceedings. 

That the nature of the occupancy shall not be changed, nor the premises be vacated 
or nnnccDpied or inoperative for a longer period than ten days. 

That explosive, highly inflammable, or volatile substances shall not be kept or used 
on the premises except in such quantities and in such manner as may be prescribed by 
law or ordinance, or may ha generally necessary to premises of similar occupancy. 

It Is mutually agreed that this company shall not be liable for conseouential dam- 
ages, nor for loss caused directly or Indirectly by invasion. Insurrection, Hot, civil war, 
or commotion, or military, or usurped power, or by order of any civil authority. 

It is mutnallv agreed that this policy shall be canceled at anv time immediately 
npon notice by the assured, the company in such case retaining tne customary short 
rate; or by the company Immediately upon notice for non-payment of premiums; or, 
the premiums having been paid, by the company npon five days' notice and refunding 
of the unearned premium pro rata. 

Mr. 8. H. Southwick, Chicago manager for the Michigan Fire and 
Marine, read a humorous paper entitled "Cash Value to Insurance 
Companies of Handshaking." He said that handshaking in its broad 
sense was the application of common sense and tact to business. He 
recalled an instance of a company which failed because its president 
and vice-president did not shake hands with each other. Officers and 
managers could do a good deal of handshaking with their pens and 
many of them did so with good results to their companies. In con- 
clusion he gave the following advice to young field men; 

I wish to say a few words to field men who are young in the business. Treat your 
agents kindly. Do not undertake to tell them something you know nothing about. If 
they ask yon a question which yon cannot answer, use tact^ and If necessary tell them 
yon are going to the train and will write them. Be sure tnat you learn as rapidly as 
possible all the peculiarities of your company (thev all have them), and under no cir- 
cumstances deviate from their instructions. If it is possible to remain with the com- 
pany you start out with — better do so. Changes are not always productive of any par- 
ticular good. If you are In doubt about your giving satisfaction, put the question to the 
company fairly and insist upon an answer. Be brief and pointed in your correspond- 
ence; say nothing abont the weather, as your mana^r reads the probaoilities daily; be 
prudent In your remarks concerning other companies. Should you at some future time 
be promoted, please remember that unless you oecome baldheaded, the same sized hat 
will snflSce. Avoid excesses of every nature. Keep yourself in good trim, and never be 
obliged to hold your breath in reserve. If adversity comes, push on, never lose sight of 
your families and friends, watch yourselves, and be able to say that you have been men 
all the way through. Finally, do not forgot to keep up the warm-hearted, loyal hand- 
shaking. 

At the afternoon session of the first day, Mr. E. F. Beddall, manager 
for the Koyal at Kew York, read a paper on ** High Buildings — Their 
Internal and External Hazard from Fire," which was mainly a learned 
and lucid exposition of the nature, advantages, and results of the co- 
insurance idea in fire underwriting. He believed that a re-adiustment 
of rates with the application of the co-insurance clause would obviate 
the necessity of any great advance in rates. In the enforcement of the 
clause, however, great care would have to be taken in the adjustment 
of rates on first-class risks, which have hitherto carried very so 



*^k 



96 FiBE UNDBRWRrrSRS' Absogiatioks. 

amounts of ioBurance. In summing up his conclusions Mr. Beddall 
Baid: 

In preftenting theno few reinarki« for your consideration, permit me to Imprem upop 
yon, jpent lemon, the lucexHity of aaln^ vonr power nnd Influence In Becurioff the nni- 
verwiT application of the co-inBnnince clause. Never before in the history or oar bn«i- 
nws ha* Buch a widw^pread interest been excited on this subject as now, and never before 
have circumstances so combined as to render Its adoption so easy. You, ec^ntlemen. 
who are brou(;ht in dally contact with the l(x*al ncents whose sympathy must r)e enlif^ted 
In the movement in onier to malce it Bucce>»8ful have tlie beet opportunities for poithin^ 
forward this reform. A more important ta«lc never devolvini upon you. To convince a 
property owner of tho m'ceKsity for an advance in hl»» rate is always attended with more 
or less difflculry, but the n'HSonabteni'HS and faimcto* of our so wo'rdinK our contracte a? 
to make the proportion of any loss oayable by the company contlntt»'nt upon the pro- 
portion of value insured is so manir(>f«tly Just and efjuitable as to make it unas«ailaDle. 
It interferes in no wav with the lilxTtv of the insured. It permits him to protect jneit 
such a proportion of the value as be is dlnposed to pay for. but at the same time it limits 
his recovery to his own insurance valuation, and places him in the same relation to a 
partial as to a total loss. 

Fire Marshal Swenie of Chicago spoke on the subject of the hazard 
from fire of high buildings. So Tar as internal hazard is concerned it 
was impossible to render a building fl re-proof filled wholly or in part 
with merchandise. A fire starting in a high building filled with stock, if 
it got under headway, would probably cause the expansion and collapse 
of the iron or steel frame work. No building containing merchandise 
should be over 125 feet high. Provided the building is used for offices 
alone the modern high building is reasonably fireproof if properly 
constructed. Each additional tenant increases the hazard. The so- 
called improvement of electric lighting is not always a source of safety 
because of carelessness in installing wires and poor insulation. The 
electric lighting should be carefully looked after. 

Mr. Duncan, home manager of the Scottish Union and National, 
was introduced and con<rratulated the members on having such an as- 
sociation as this, so different from anything abroad, and conferring 
such lasting benefits upon agents. 

Mr. A. A. Crandall, in a paper on " How Hates are Made and Un- 
made/* declared that education was the only remedy for rate-cutting. 
Agents knew little of the burning rate on any class of risks, and hence 
could not capably rate a town. Special agents and even managers 
knew little more about rating. Still reform must come from the com- 
pany officers. Unjust rates led to cut rates and demoralization. With 
few exceptions the loss ratio, not the expense ratio, caused the retire- 
ment of companies which had gone out of business recently. 

The opening paper in the second day's proceedings was on " Public 
Policy" by Mr. H. T. Fowler, Minnesota state agent of the Insurance 
Company of North America. The burden of his discourse was the 
ignorance of the public, including policy-holders, of fire insurance and 
their misconception of its moral and legal relations towards them. 
The education of the public should be the duty of the underwriter, 
but it is neglected in the all absorbing ambition to increase receipts. 
The future of fire underwriting, however, the writer regarded as hope- 
ful, and he concluded with this prophesy: 

The handful of American companit^ that hrive survl%'ed the storms and bnffetings 
of the past twenty-flve yeare, thtsir gpltmdid specimenrt of architecture in offlce buildings, 
their large receipts, their surpluses and capital, and their glorious histories acquired 
through years of^ honest and able management, while all grand and enviable in thcm- 

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FiBB UNpERWRITERS* ASSOCIATIONS. 97 

flelres, would be as nothinf; compared with tbe achievements that could be accomplished 
in the futare. In the fifty years to como in which it is estimated we are to have S00,000- 
000 people within our shores — America will be the nation — the United States, the 
commercial key of the world, and instead of thirty-three, we shall have 800 millionaire 
companies, which neither England nor the world can equal. 

Mr. C. C. Hine followed with an interesting historical and analyt- 
ical sketch entitled, ** A Decade of Insurance Litigation." Mr. H. C. 
Clarkson spoke upon the "Minimum Tariff and Its Application" and 
illustrated his subject on the blackboard, and Professor C. 0. Ilaskins 
of Chicago read an elaborate essay on electricity. 

At the close of the second day's proceedings the following officers 
and executive committee were elected: 

President— Eniiiene Harbeck of Chica£;o, general agent of the Western department 
of the Phenix of Brooklyn. 

Vice-President — E. L. Allen of Beloit, Wis., manager of the Northwestern depart- 
ment of the Royal. 

Secretary and Treasurer— E. V. Munn, Beloit, Wis. 

Executive Committee — George W. Adams, E. L. Allen, J. Mabbitt Brown, Eugene 
Gary, Eugene Harbeck, J. J. McDonald, George A. S. Wilson, Chicago; H. T. Fowler, 
Minneapolis: John W. Maginn, St. Louis; E. v. Munn, Beloit, Wis.; J. P. Singleton, 
Loaisville; H. C. Stewart, Des Moines; F. H. Whitney, Detroit. 

Fire Underwriters Association of tlie Pacific, composed of 
general and special agents, managers, assistant managers, and iDdepen- 
dent adjusters of fire msurance companies doing business in the Pacific 
coast states, and officers of local companies, and having its headquar- 
ters at San Francisco, was organized in 1875. 

At the time of the great fire at Virginia City, Nevada, in October 
of 1875, there were some thirty-four adjusters in attendance, and in 
order to further and expedite the adjustment of the loss there, frequent 
meetings were held in the "palace car" which was side tracked and 
occupied by the adjusters. Finding that such meetings were conducive 
to much interest and the improvement of the field men generally, the 
idea of permanent organization was discussed. In November of 1875 
this took definite form, and by the adoption of proper resolutions the 
association was* duly organized. A committee composed of L. L. 
Bromwell. H. H. Bigelow, and J. R. Garniss, was appointed to draft 
a suitable constitution and by-laws, and at a regular meeting held at 
San Francisco, February 23, 1876, the organization was completed. 

Since then monthly meetings have been held at which time subjects 
of importance to the business generally have been discussed. Annual- 
ly there is a gathering, papers prepared upon different subjects per- 
taining to the business are read, and discussion follows each. Two 
days are usually consumed in this, and on the evening of the second 
day the proceedings are closed with a banquet. At the last annual 
meeting the constitution was so altered that the meetings are now held 
quarterly instead of monthly. 

The purpose of the association is set forth in the preamble to the 
constitution, which says : "Its object shall be to promote harmony 
and good practice in the profession ; the interchange of views, opin- 
ions, and personal experience ; the discussion of topics of interest to 
the profession, and the consideration of such subjects as may be 
brought before the the association." Its province is purely advisory, 
and it has no official connection whatever with the rating organization, 
which is the Pacific Insurance Union. 



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98 FoRBiQN BusiNXfls OP Aksbigan Lifb Insurakcb. 

The following is a list of the presidents of the tisociation who 
have served since its organization : 1876, B. F. Low ; 1877, Qeorge D. 
Dornin ; 1878, A. P. Flint ; 1879. C. T. Hopkins ; 1880, George W. 
Spencer ; 1881, L. L. Bromwell ; 1882, George F. Grant ; 1883, E. W. 
Carpenter ; 1884, William Sexton ; 1885. C. Mason Kinne ; 1886, Z. P. 
Clark ; 1887, J. W. Staples ; 1888, W. L. Chalmers ; 1889, L. B. 
Edwards ; 1890, Bernard Faymonville ; 1891, W. H. Lowden ; 1892. 
H. M. Grant ; 1898, S. D. Ives. 

At the annual meeting of the association February 16 and 17, 1893, 
held at San Francisco, H. M.Grant was elected president, S. D. Ives. 
vice-president, and George Tyson, secretary : papers were read by J. 
H. De Veuve on *' Lookmg Backward," Edward Niles, on *' Special 
Agents," A. A. Andre on the " Special and the Contract," Charles A. 
Lay ton on ** Fire Patrols," Herbert Folger on *' The Growth of Tariff 
Asflociations," William Sexton on ''Fire Insurance as a Collateral," 
J. D. Maxwell on ** Boiler Risks," Peter Outcolt on ''Professional 
Errors," G. W. Harvev on ** The Local Agent," J. A. Marat on on 
" The Evils of Open insurance," B. Faymonville on "The Insurance 
Liability on Buildings in Course of Construction," V. C. Driffield on 
"Attachment before Proofs." A. J. Wetzlar on " Garnishments be- 
fore Proofs," L. B. Edwards on "Adjustment before Loss," and 
George D. Dornin on " After the Compact, What ? " 

The present officers of the association, who were elected at the 
annual meeting in February, 1893. are 8. D. Ives, president ; RoUa V. 
Watt, vice-president ; R. W. Osborn, secretary and treasurer ; W. 
H. Lowden, William Sexton, and V. C. Driffield, executive commiUee. 

Fire Underwriters, National Board of. [See National Board.] 
Florida State Underwriters' Association was or^ized in 

April. 1893, with Charles B. Pendleton as president. It is a social 

organization of fire insurance agents. 

Florida, Insurance Siipervision in, 1873-1893 : The laws of 
Florida designate the state treasurer, comptroller, and attorney-general, 
who are elected by the people for four years, as the board of insurance 
commissioners. No extra compensation is allowed except a fee of $5 to 
the state treasurer for the license issued to each insurance company 
authorized to transact business in the state. C. B. Collins is the pres- 
ent state treasurer, and practically in charge of the business of the insur 
ance department. The state treasurers since the passage of the law 
have been: 



F. I. Poni, 1885-18W 

Rdnardo J. Triay, 1S»1— 1888 

C. B. CoUiDP, 188a- 



C. H. Poster, 187JV— 1877 

W. Gwynn. 1877-1881 

H. A. L. Engle, 1881-1886 

E. 8. Crill, 1885-1889 

Flonr City Life Association of Rochester, N. Y. This 
ment association became bankrupt in 1892, and in June, Charles F. 
Underbill, the president, who was tried for wrecking it, was convicted 
of forgery in the third degree. 

Folsom, Simon B., president of the New Hampshire Life Under- 
writers' Association. [See Death Roll.] 

Foreign Business of American Life Insurance Companies. 

The Connecticut Life insurance report for 1893 contained the foUow- 



Francis, Gut. 



99 



ing statement of business transacted in foreign countries in 1892 by life 
insurance companies of the United States: 



Companies. 


PoLioiBs IN Force 
Deo. 81,1892. 


Preniiiims 
of the 
Year. 


Gains over Pbecbdino Year. 




No. 


Amount. 


No. 


Amount. 


Premiums. 


Equitable, 
*GermaDia, 
Mutual, N. Y.. 
Mutual Res. Fund, 
New York, 


64,598 $289,311,894 
21.604 28,908.916 
19,506 61,349,665 
7,4(m, 26.850,965 
64,408 211,884,680 


$9,626,473 

1,SM7,3I9 

2,784,272 

317.893 

8,987,289 


3.532 

1,404 
6,188 
1,805 
9,683 


$4,153,787 
2,064,095 

13.899,801 
6.084,890 

26,605,815 


-6,963 
66,861 
691,999 
161,692 
846,471 


TotalH, 


167,6121667,766,019 


$22,868,246 


21,46^ 


$51,707,888 


$1,149 560 



* Includes 174 annuities. 

Foreign Fire Companies, Receipts from and Remittances to 
Home Offices in 1802 : Tlie report of the Connecticut insurance de- 
partment for 1893 makes the following statement of the amounts re- 
mitted bj foreign companies in this country to their home offices and 
their receipts from the same in 1892: 

Amount 

sent 

to Home 

office. 



Companies. 



Amount 

sent 
to Home 

office. 

$08,046 



Amount 
received 
fr. Home 
office. 
$58,098 
850,000 



Xtlas, London, 

Caledonian, 

Commercial Union, 181,868 

Ooardian, London, 18,248 

Hamburg-Bremen, 28,816 

Imperial Fire, ia906 

Lancashire, 101,024 
Lion Fire, London, 18,419 

Liv. A London A Globe, 181,047 87,497 
London Assurance, 17,167 4,860 



60,000 



637,805 



Companies. 



London & Lancashire, , 
No. Brit. & Mercantile, 
Northern, 
Norwich union. 
Palatine, 

Pbceniz, London, 
Royal, Liverpool, 
Bun, London, 
Transatlantic, 
Union, Loudon, 



46,642 
88,178 
61,297 

'66,626 

726,200 

124,715 

11,697 

98,000 



Amount 

received 

fr. Home 

office. 

42,418 

188,974 
5,000 
69,400 

'772,088 
164,240 
45,000 



Totals $1,874,769 $2,429,870 



Szcess of receipts from home offices, . 



$555,101 



^^Fouse, L. 6., president of the Fidelity Mutual Life Association of 
Philadelphia, was born in Blair County, Pa., October 21, 1850. He 
was graduated from Mercersburg College in 1870, when he became a 
clerk in the American Iron Works at Pittsburgh, Pa., but after a short 
service he resigned to enter the life insurance business in which he had 
an extensive experience as solicitor, manager, and actuary. He in- 
vented what is now known as the " Fouse plan " of assessment insur- 
ance, and in 1878 organized the Fidelity Mutual. Mr. Fouse is the 
originator of the American Faculty of Actuaries of which he was and is 
the first president. He is the author of numerous publications on life 
insurance. [8ee Fidelity Mutual Life Association. ] 

Francis, Guy, secretary of the Enoxville insurance company of 
Tennessee, resigned in January, 1892, and was appointed general 
agent of the United States Fire of New York for Alabama and adja- 
cent southern states. _ edbyGoOQle 

4 9^- 



52 



100 



FniSlID, WiLLIAlC H. 



Francis, William A«, assislaat United States manager of the North 
Britiah and Mercantile, was born in New York, January 13, 1855. 
iiis first connection with fire insurance was in the New York ofllce of 
the Liverpool and London and Globe in 1872. He went into the service 
of the North British and Mercantile in 1877, and has been assistant 
manager in the United States branch office since 1889. 

Franklin Fire insurance company of Philadelphia. George F. 
Reger was elected second vice-president, and Robert H. Wass, niana^ 
ffer of the agency department in April, 1892. Alfred G. Baker, 
director and former president, died in I^ecember. [See Death Roll] 

Fraternal Beneficiary Societies and Orders* A tabulated 
statement of the condition and business of these orders will be found at 
the end of this volume. The following are the principal or^^anizatiou*- 
of this class, and the latest reported number of their members in the 
United States and Canada : 



Knl|B:ht« of Pythian, 

AiU'ieDt Order of I'nited Workmen, 

Improved Onivr of lied Men, 

KnightH of Houor, 

Royal Arcanum, .... 

Junior Onirr of Unit4xl American Mfchnuic*, 

Ancient Order of Hi beniiHnjt of Ani'-rira. 

Ancient Order of FonnterH of America, 

Kni);ht8 of the Miiccabt^'H, 

KniehtH and Lad i«*H of Honor, . 

M<KUrn Woodmen of America, . 

8onr* of Tempj^ranct', 

American I^'tion of Honor, 

Order of I'nited American Mechanicf*, . 

Equitable Aid Union, 

National Union, .... 

Royal Templars of Temperance, 

On'ler of ChoHcn Friend.s. 

Catholic Mutual B*'n<'flt Af*Hociatioik, . 

R'uevolent and Protective Order of Elk**, 

Catholic BenevoU'Ut Legion, 

Ancient Order of Forewterp, 

IndeiKjndent Onlerof B'nai B'rith, 

Brotherhood of Itjiilroad Trninniiin, 

Catholic KniphtH of America, . 

Ordi'r of Uiiile<l Friends, . 

Onler of the Golden CroB8, 

United Onler of Pilgrim Fathers, 

Ancient Order of Druids, 

Free Son? of lHrac>l, 

Royal Society of (iood Fellown. . 

New England Onler of Protection, 

Improved Order of Heptai*oplih, 

The Order of Shield of Honor, . 

The Ord(>r of Golden Chain, 

Smaller Organizations, . 

Total, .... 



357.«1 

139.1*7 
18.5.126 

isa.a-n 

ltn.491 

TliOiW 

67,© «3 

61,835 

46.10U 
4L»t5 
89,8£< 
88,652 

88,iMi 
35,0(10 
30,157 

26,a«o 

25,UUli 

£3,001) 

«1.5,:1 

19,.'i»ii» 

15,^» 

14,500 

13.U:;!! 

11,055 

10,05;J 

10,00iJ 

8,397 

S,l*i 

173,629 

a,363,13i 



None of the so-called endowment assessment concerns, of which the 
*' Order of Tonti " is the type, are included in the above, which are 
genuine fraternal societies. [See also National Fraternal Congress.] 

Friend, William H., secretary of the Sun insurance company of 
San Francisco , was horn at Gloucester, Mass., in lb40. In his vouth he 
was a sailor. ,,He went to California in 1863, passed a number of years in 
trade, was an insurance solicitor in 1880, in the custom hous» at San 



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Gebman-Amsrican Inbuhaivce Comfaitt. 101 

Francisco under President Garfield, and entered the service of the Sun 
as cashier in 1886. November 1, 1891, he was elected secretary of the 
company. 

a 

}ay, Edward S., southern manager of the Insurance Company of 
North America, with headquarters at Atlanta, was born in 1847, and 
while a mere boy, the war breaking out, entered the Confederate ser- 
vice. He came out of the war with a captain's commission, being 
then only eighteen years of age. He turned his attention to insurance, 
and in 1869 went to Texas to be stale agent for the Insurance Company 
of North America. Remaining there until 1875 he was called by the 
company to Atlanta U> take charge of its business in the south as gen- 
eral manager. Captain Gay enjoys the reputation of being the origi- 
nator of the South Eastern Tariff Association. He is an orator of 
unusual gifts, and is always sent to the front when legislatures, bent 
upon doing harm to the insurance business, have to be reasoned with. 

General Agents of Insurance Companies appointed in 1892. 

[See Agents.] 

General Assurance Company of London, doing business in the 
Pacitic coast states, reinsured its American fire business in the London 
and Lancashire, in September, 1892. 

Georgia Association of Life Insurers was organized by life in- 
surance agents at Atlanta, October 12, 1892. The following officers 
and executive committee were elected : Thomas Peters of the Wash- 
ington Life, Atlsnta, president; N. R. Winshipof the Equitable, Macon, 
vice-president; Clarence Angier of the Mutual Benefit, Atlanta, Secre- 
tary; J. O. Wynn of the Provident Savings, Atlanta, treasurer. Exec- 
utive committee — W. Woods White of the Northwestern, Atlanta; J. 
A. Perdue of the Equitable, Atlanta; R. H. Plant of the New York 
Life, Macon; T. S. Lowry of the Union Central, Macon; R. F. Shed- 
den of the Mutual of New York, Atlanta. 

Georgia, Insurance Supervision in, 1860-1898: The act creating 
an insurance department in Georgia was approved March 19, 1869, the 
comptroller-general being charged with the duties of supervision. 
The officials, who are elected by the people for a term of four years, 
have been: Madison Bell, 1869-1873; W. L. Goldsmith. 1878 until 
September 19, 1879, impeached and removed from office; William A. 
Wright, appointed September 20, to fill the vacancy, and elected for 
full term, October, 1880, and re-elected for each term since. 

German-American Fire Insurance Company of Virginia was 
chartered, by the circuit court of Richmond, Virginia, in July, 1892. 
The purposes of the company were stated to be a general fire and light- 
ning insurance business. The capital stock was to be not less than 
125,000 nor more than $100,000. The principal office was to be at Rich- 
mond. The officers elected were Alfred Howard of Philadelphia, pres- 
ident, and William P. DeSaussure of Richmond, vice-president. The 
persons principally interested were Philadelphians. 

German-American insurance companyof New York was organized 
and began business March 7, 1872. The capital stock was $1,000,000. 



OERiCAN-AicBaicAH Insurahcb Compakt. 



William F. Heins was elected president and John W. Murray secre- 
tary. The charter authorized fire, marine, and inland insurance, and 
these lines were prosecuted during tUe first years of the company's op- 
erations. At the outset an agency corps was established in each of the 
leading middle, western, and New England states. Admission to Illi- 
nois was granted March 2, 1872, and to Michigan two days later. The 
states of Massachusetts, Pennsylyania, Missouri, Ohio, and Connecticut 
were also entered in 1872. In 1873 the issuance of marine and inland 
policies was inaugurated, but the company's attention was devoted 
mainly to fire insurance transactions. The Chicago fire occurred in 
the October prior to the organization of the German-American and the 
Boston fire in November succeeding. The net cash premium receipts 
from March 7, until December 31, 1872, amounted to $520,348. The 
losses paid aggregated $173,764. The total income was $586,135, and 
the expenditures $342,436, the excess of income over expenditures 
being $243,698. The amount of insurance in force, January 1. 1873, 
was $49,678,416. The income for 1873 exceeded the expenditures by 
$265,241. A dividend of $40,000 was declared. In 1874 a 10 per cent, 
dividend on the entire stock was ordered. During the past five years 
the company has paid an annual dividend of $200,000, being 20 per 
cent, on the capital. Under the New York law providing for a special 
reserve fund the company has $500,000 deposited with the insurance 
department and a guarantee surplus fund of $500,000. The business 
and progress of the German-American since 1875, the annual statements 
being given from 1885, will appear from the appended figures: 



Year. 



Net Cash 
Premiamfl. 



Total 
Income. 




1875 


$940,483 


1880 


1,159,910 


1885 


1,992,664 


1886 


2,117,863 


1887 


3,860,(188 


1888 


2,389,555 


1889 


2,480,362; 


1890 


2,388,218 


1891 


2,635,721 


1892 


2,884,036 



$1,037,620 


$422,962 


$860,496 


$2,066,010 


1,278,419 


504,388 


1,002,000 


3,004,a5ii 


2,162.208 


1,082,477 


1,852,912 


4,701,408 


2,300,056 


1,012,917 


1,932,560 


5,150,899 


2,668,864 


1,811,643 


2,341,880 


5,288,249 


2,549.372 


1,476,853 


2.653.618 


5,888,638 


2,640.476 


1,426,068 


2,552,112 


5,544,347 


2,619,341 


1,301,446 


2,396,211 


5,599.8M 


2,858,060 


1,578,795 


2.734.358 


5,S79,*« 


8,124,744 


1.664,359 


2,922,928 


6,202,3a5 



Total 
Ezpenditurea. 



A80et«. 



The net surplus, December 31, 1893, amouuled to $2,256,915. Since 
or^nization the company has received $34,882,815 in premiums, and 
paid $17,773,774 in losses. The cash dividends declared since the com- 
mencement of business amount to $2,740,000. In 1873 President iieins 
was succeeded by Emil OeU)ermann, who has since remained at the 
head of the companv. At the same time James A. Siivey was made 
secretary in place of John W. Murray and still retains the position. 
Mr. Siivey is also second vice-president of the company, the vice-pres- 
idency being held by John W. Murray. George T. Patterson is the 
third vice-president. The assistant secretaries of the agency depart- 
ment are W. S. Newell and P. E. Rasor. The directors are C. F. Ack- 
ermann, F. J. Allen, Austin P. Baldwin, Joseph H. Choate, Louis F. 
Doihmerich, Gustuv U. Gossicr, C. K. A. lliurichs, Charles A. Hoyt, 



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Grannis, Robert A. lOB 

Charles H. Isham, Woodbury Langdon, Lowell Lincoln, Charles Mall, 
John W. Murray, E. Oelbermann. George T. Patterson. Charles Pfizer, 
Thomas E. Proctor, Louis Schreiber, Jas. A. Silvey, Charles S. Smith, 
George W. Smith, Adolph A. Strohn, Henry C. Ward, Hugo Wcssen- 
donck, A. R. Whitney, Louis Windmuller, F. Winkhaus, William 
Wood. 

Germania Fire insurance company of New York in March, 1892, 
closed its southern department, of which Clarence Knowles of Atlanta 
was manager, and its business in that department (excepting Texas) 
was reinsured by the Delaware insurance company of Philadelphia, 
which was also represented in the South by Mr. Knowles as manager. 
The Texas business was taken by the American Fire of New York. 
The Germania continued, however, its connection with some of its 
local agents. George B. Edwards, special agent, was elected vice- 
president of the company, April 6, 1892. 

Glens Falls insurance company of Glens Falls, N. Y. January 20, 
1892, elected J. L. Cunningham president, to succeed Russell M. Little 
deceased. R. A. Little succeeded Mr. Cunningham as secretary. 

Goodnow, Jotham, president of the ^tna insurance company of 
Hartford. [See Death Roll.] 

^H»€rOOdricli, Thomas F., president of the Niagara Fire insurance 
company of New York, was born at Albion, Orleans County, N. Y., in 
1833. At the age of twenty years he embarked in the insurance busi- 
ness in the agency of H. A. Brewster, at Rochester, N. Y. Three 
years later he went to Iowa City, Iowa, and engaged in banking and 
insurance there for eight years, representing the Home of New York 
and the Hartford Fire, his firm being Hubbard & Goodrich. During 
his residence in Iowa he acted as assistant cashier of the First Nation^ 
Bank of Iowa City for several years. Called to New York by the 
Home in 1864, he accepted a responsible position in the office of that 
company, with which he remained nine years. In 1873 he became 
secretary of the agency department of the German- American, and in 
March, 1880, was appointed secretary of the Niagara. Four years 
later he was elected vice-president, and on the resignation of Mr. Not- 
man in March, 1893, succeeded him as president. 

■^ Goodwin, Warren F., manager of the central department of the 
Northern of London, at Cincinnati, was born at Boston, Mass., in 
1857. He entered the New York office of the London Assurance Cor- 
poration in 1873, as a junior clerk, and was afterwards appointed its 
special agent for New Jersey and Long Island. In 1882, Mr. Goodwin 
went into the service of the Northern in its New York office. He 
was commissioned manager of the central department January 1, 1887. 
Grabf elder, Abraham L., general agent of the Manhattan Life for 
the southern States. [See Death Roll. ] 

Grand Rapids Fire insurance company of Michigan, in April, 
1892, elected 1^ Stewart White, president, to succeed S. F. Aspinwall, 
deceased, and J. R. Champlin, vice-president. 

i^i^Grannis, Robert A., vice-president of the Mutual Life insurance 
company of New York, was bom at Brooklyn, N. Y., in 1840, his 



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104 Greene, Jacob L. 

father being a prominent New York merchant. Mr. GntDnisa gradu- 
ated from the Polytechnic Institute of Brooklyn in 1856, and had Ids 
first business experience as a clerk in a drygoods house at Richmond, 
Va. Returning to New York, he was employed for some time as a 
clerk in the ofHce of the New York Life. From that company he 
went to the Widows and Orphans Benefit Life, of which he became in 
time, secretary. In 1872 he was appointed secretary of the Metropol- 
itan Life, and in 1877 became one of its vice-presidents. In 1885, he 
received the unanimous call from the trustees of the Mutual Life to 
take the vice-presidency of that company. 

Greene, Jacob L., president of the Connecticut Mutual Life insur- 
ance company, was born at Waterford, Me., August 9, 1837. He pur- 
sued his studies in the district schools and at the Frye burgh Academy, 
and took the special course at the Michigan University. Having 
adopted the law as a profession, he was admitted to the bar in Sep- 
tember, 1859, and began practice in Lapeer county. He was appointed 
court commissioner in 1860. In June, 1861, the young lawyer aban- 
doned his law books for the musket and enlisted in the seventh Michi- 
gan infantry. He saw a great deal of active service, fought his way to a 
commission, and when assistant adjutant-general, was captured and 
imprisoned at Libby, Macon, and Charleston. Paroled and finally 
exchanged, he joined General Custer and was his chief of stafi^, ^with 
the rank of Major, and was breveted lieutenant colonel. He was not 
mustered out of the service until April, 1866. Colonel Greene began 
his insurance career as an agent of the Berkshire Life the same month. 
In the following September he was appointed assistant secretary of the 
company, in which position he remained until in 1870, when he 'was 
appointed assistant secretary of the Connecticut Mutual. In April, 
1871, he was appointed secretary, and on President Goodwin's death 
in 1878, was elected president. Col. Greene is associated with numer- 
ous financial, educational, and social institutions of Hartford, is a 
vestryman of Trinity Church, a leading member of the Church Tem- 
perance Society, and a frequent writer for the class press and public 
speaker. 

President Greene contributed an article to the New York Independ- 
ent of October 20, 1892, on the rebate evil in life insurance practice. 
After showing how rebating premiums to the assured dishonors the 
policies of the company which encourages or connives at the practice 
for the sake of securing great volume of business, and undermines its 
stability, the writer took issue with President McCurdy of the Mutual 
Life, as to the remedy for the evil as set forth by the latter in a recent 
article in the Independent. [See McCurdy, Richard A.] Mr. Greene 
said: 

I have read with great Interest Mr. McCard.v'fi cotniniinictitton on this enbject. La 
which he places the reHponpibility for rebating entirely on the agent. He argues the in- 
ability of the companiet* to make a practical and effective ngreeinent for the conviction, 
disniiseal, and blacklisting of rebating agcnte, and the iui|X)Kwbility of proving infrac- 
tions of the laws apiinut rebatct* which win be and are M) easily violated in numberlesd 
way», direct or indirect ; in thcne i>oint8 he ia, I fear, too nearly right. But when he 
sayn that '* the remedy lies with the agents exclusively," and that no long &» they '* wilJ 
secretly defy the law of the state and the wish of the comoanies, no power poeseesod by 
tlie companies can prevent them," I must say that the real " wish of the companies " in 
the matter, is to be and actually is interpreted by the provisions they do or do not make 



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Orbbkwich Iksttrakcb Company. 105 

for rebating. The asent whose company pays him only a proper living and working 
commiMton know* that it is not the company's wish or expectation that he shoold re- 
bate. The agent whose company pays him two or three times such a commission knows 
what Is expected of him ana does it. 

Let those rebating companies cot their commissions down to the proper point and 
rebatinff will end. There will be nothing to do it with. As lone as there is anything to 
do it with it will be done. It depends solely upon these compames whether they will or 
will not continae to famish agents with the means to rebate. That is the only question 
there is in the matter. That is what they will be Judged by. 

Greenwicli insurance company of the city of New York was or- 
snnized May 5, 1884, and began business on the ensuing January 1. 
But there was a Greenwich insurance company prior to this, a parent 
company, bom in 1824, with $250,000 capital, and officered by Ferris 
Pell as president and Ley! H. Clark as secretary. This old Qreenwich 
company appears to have passed out of sight about a year before the 
present company received its charter. The Greenwich is therefore 
fifty-eight years old, or, counting back to the advent of its progenitor, 
sixty-eight years old. The table printed below tells the story of its 
gradual growth, a slow and cautious growth in its youth, a rapid and 
vigorous growth from the time it reached its maturity. The capital of 
the Greenwich has remained at $200,000 since 1884. Its first heavy 
loss, heavy for that era, occurred in the first year of its business, in 
the great New York fire of December, 1885, on account of which it 
paid $85,182.78. The first president was Charles Oakley, and the 
second Timothy Whittemore. He served the company as Its chief 
executive thirty-five years, and was succeeded in 1869 by Samuel C. 
Harriot, whose presidency lasted thirty-one jrears. Secretary Mason 
A. Stone became the fourth successive president of the Greenwich 
in 1891. He had been secretary since 1872, a period of nineteen 
years. The roster of secretaries since 1834 is, Samuel Y. Clark, 
appointed 1884; Joseph Torrey, 1886; James Harrison, 1849; Mason 
A. Stone, 1872; Walter B. Ward and William Adams (assistant secre- 
taries), 1891. The Greenwich does an agency business, both fire and 
inland marine, in all the principal states. During the fifty-eight years 
of its existence it has received in premiums $11,885,284, and paid for 
losses $7,790,162. It has paid cash dividends to its stockholders of 
$3,080,000. Although the two disastrous years 1891 and 1892 affected 
the Greenwich, as it did all other responsible fire insurance companies 
doing business in the United States, still its strength is not impaired 
and it has regained its old headway since the beginning of the year. 

The fifty-eighth annual statement of the company, under date of 
December 81, 1892, reported assets of $1,486,153, reserve premium 
fund of $821,568, total liabilities, including capital, $1,865,095, surplus 
beyond all liabilities, $121,057; premium receipts in 1892 of $1,228,562, 
aggregate receipts, $1,296,659, disbursements for losses. $934,911, 
aggregate disbursemento, $1,412,888. Fire risks written, $181,184,241, 
inland risks written, $57,885,552. Total risks in force, $276,204,119. 

The following table exhibits the growth of this company, the annual 
returns being given after 1880: 



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106 




OuiLB, John J 




Years. 


Oroee ApeeU. 


Gross Income. 


Gross Expendl- 
tares. 


Amount si RUk 
Dec. Si. 


1835 


$287,074 
819,913 


$87,977 
36.354 




$4,97,000 


lt(46 




6,000,000 


1866 


249^19 


5«,1»4 


"■$46;674 


7,006,347 


lb65 


888,881 


181.468 


149,986 


16,893,476 


1876 


654,389 


247,675 


826,898 


81,161,934 


1880 


748,938 


826.820 


820,266 


02,543^803 


1881 


806.0fti 


889,968 


867.780 


85,107^10 


1884 


916,181 


54(V,K98 


490,725 


115.492,000 


1883 


1,010,U0G 


677,268 


610,918 


158,846,186 


1K84 


1,188,896 


868,206 


764,092 


188,6Ua,49H 


1886 


1,268,260 


919,674 


798,480 


9(X),640,8ari 


1886 


1,888,061 


888.168 


T71,9ll 


2U0.6(n,8&4 


1887 


1.858,490 


848,488 


861,922 


186,041,431 


1888 


1,405,811 


954,989 


987,978 


200,213,884 


1889 


1.489,787 


1,006,492 


995,006 


247,171,717 


1800 


i,65i,o:i6 


1,014,666 


952,979 


280,000.156 


1891 


1,697,375 


1,256,196 


1,815,425 


298.913,182 


189S 


1,486,158 


1,296,659 


1,412,888 


276,204,119 



Gaardian Fire and Life assurance company of London, liaiited, 
was chartered December 17, 1821. it transacts both a fire and life 
business, but only the former in the United States. Its subecribed 
capital is £2,000,000, and its paid-up capital, £1,000,000. Accarding 
to its home office statement of December 31, 1892, its total funds are 
£4.518.467 or over $22,000,000. Its fire fund was £678.100 or over 
$3,300,000. The chairman of the directors of the Guardian is Oeorge 
LalLo, and the board is composed of leading bankers, merchants, and 
other capitalists of the United Kingdom. Mr. Arthur J. Relton, who 
entered the service of the Guardian in 1876, and worked his way 
through the home and foreign departments, is the manager of the 
company's fire department, and as such is well known in America, 
The Guardian was admitted to the United States September 24, 1872, 
under the management of Francis H. Carter. In 1876 Mr. Garter was 
succeeded by Henry E. Bowers as resident United States manager, and 
he has continued in charge of the company's affairs in this country to 
the present time. When he became manager the assets of the Guar- 
dian in the United States were $763,765. and its annual premium in- 
come $89,446. The United States assets of the company at the begin- 
ning of this year were $1,671,939, and its premium income in laM 
was $1,107,182. The total premiums received in the United States 
since the year of admission have been $11,039,692, and the losses paid 
$5,690,623. These figures speak for the management. N. W. Meserole 
is now manager of the western department, and the Pacific coast mana- 
ger. William J. Landers, reports through the New York office. The 
United States trustees are: James A. Roosevelt, James M. Constable, 
Alfred M. Hoyt, Adrian Iselin. Jr., and Richard Irvin. 

Guile, John J., resident manager for the United States of the Sun 
insurance office of London, was born in Liverpool, England, May 5, 
1854. residing in that city until his removal to London in 1882. 
January. 1872. he became a clerk in the office of the Roval insurance 
company, where he remained until 1882, and then transferred liis ser- 



MaLSET, .tACOB L. lOt 

▼ices to the Snn. In May, 1885, Mr. Guile was appointed secretary of 
the United States branch of the Sun ; in May, 1886, he was made 
assistant manager, and in December of the same year manager, which 
position he has since occupied. 

H 

Hall, Henrjr H., of Hall & Henshaw, resident United States man- 
agers for the Union Assurance Society of London, was born at Boston, 
Mass., in 1846. His first business experience was as a clerk in the 
Boston office of the Home. Removing to New York, he was for some 
years secretary of the National Fire insurance company of that city. 
Subsequently he was appointed United States branch manager of the 
Northern of London, which position he resigned in April, 1889, and 
formed with W. W. Henshaw the firm now representing the Union of 
London, and several otber foreign and American companies. Mr. Hall 
was president of the New York Board of Fire Underwriters in 1886 
and 1887, and has always been prominent in New York fire under- 
writing. 

■»• Hall, John A., secretary of the Massachusetts Mutual Life insur- 
ance company, was born at Saratoga Springs, N. Y., December 17, 
1840. As a boy, he sold newspapers on the railroad trains for a liveli- 
hood. He was employed in the government armory at Springfield, 
Mass., from 1861 to 186i5. In the latter year he became a life insurance 
solicitor. He was appointed a general agent at the home office of the 
Massachusetts Mutual in 1872, superintendent of agencies in 1880, and 
secretory in 1881. 

Hall, Sanford J., secretary of the Springfield Fire and Marine 
insurance company, was born at Orafton, Mass., March 81, 1820. As 
a youth he was clerk in a store at Southboro, Mass. , and was after- 
wards in the dry-goods] business at Worcester until 1851, when he 
went into the service of tbe Peoples Fire insurance company of that 
city as a bookkeeper. In 1861 he was secretory of the Massasoit 
insurance company of Springfield, and in 1866 assistant secretary of 
the company which he now serves. He was appointed secretary in 
1866. Mr. Hall has been in the insurance business 42 years. 

^ Halsey, Jacob L., vice-president of the Manhattan Life insurance 
company, was born in the city of New York, August 18, 1828, and 
on April 1, 1846, began his insurance career in the office of the Nautilus, 
now the New York Life insurance company. After two years' service 
there, he went into the employment of the American Mutual of New 
Haven, with which he remained until the organization of the Manhat- 
tan Life in 1850. Mr. Halsey has given all the remaining years of his 
life to this company, having been promoted by successive grades to 
his present position in which he has the direction of the company's 
insurance department. Mr. Halsev has the distinction of beine the 
oldest life underwriter in the United States measured by years of 
service. 



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108 HABDind, AicoB J. 

HanoTer Fire insuraaoe company of New York, was or^nized 
April 15, 1852, with a cash capiul of $150,000. The original officers 
were John N. Wyckoff, president, and John V. Harriott, secretary. 
The company grew steadily, advancing its capital to $200,000 in 1857 
and $400,000 in 1863. At the time of the Chicago Are, its assets had 
reached $872,628, and it had nearly seyenty-flve millions of business on 
its books. It was caught in the fire like all the other prominent com- 
panies, and was forced to reduce its capital to $250,000, but it returned to 
the previous amount in 1878, and two years later added another $100,000. 
In 1881 the capital was made a round million. The Hanover united 
with other companies in 1864, in establishing the New York Under- 
writers Agency, for the transaction of its agency business outside of 
New York, under the management of Mr. Alexander Stoddart. The 
arrangement has been twice renewed, in 1874 and 1884. The preai- 
dents of the Hanover have been John N. Wyckoff, 1853 ; 8. H. Rock- 
enbaugh, 1858 ; Doras L. Stone, 1860 ; Benjamin 8. Walcott, 1866 ; 

1. Remsen Lane, 1891. The secretaries have been John Y. Harriott, 
1852 ; Doras L. Stone, 1854 ; Benjamin 8. Walcott, 1860 ; I. Remsen 
Lane, 1866 ; Charles L. Roe, 1891. The present officers are Mr. Lane, 
president ; Charles L. Roe, vice-president and secretary ; Charles A. 
Shaw. assisUnt secretary. The assets December 81 , 1 892, were $2,600, - 
990, the liabilities not including capital, $1,208,109, and the net sur- 
plus, $397,882. The total premiums received from the organization of 
the company to the beginning of 1893, were $25,145,441 ; the losses paid 
were $13,948,181; the dividends paid were $2,209,500. The Hanover 
does business in nearly every state of the Union, having deposits as 
required by law in Qeorgia and Virginia. 

Harbeck, Eugene, general agent of the Pheniz of Brooklyn for its 
western and southern departments, was born at Batavia, K. Y., in 
1853. He was educated in the public schools at Battle Creek. Mich., 
and entered a local agency at that place as an office boy. In 1878, he 
established an agency of his own, but three years later he went on the 
road as special agent of the Detroit Fire and Marine, with which he 
remained until he accepted the position of state agent of the Pheniz in 
Michigan. After resigning and serving as secretary of the Michigan 
Fire and Marine insurance companv, he returned again to the Phenix 
as assistant manager at Chicago, 111., and on the death of Mr. Burch, 
was appointed to succeed him as general agent. Mr. Harbeck wad 
elected president of the Fire Underwriters Association of the North- 
west at its last annual meeting. 

^ Harding, Amos J., western general manager for the Springfield 
Fire and Marine insurance company, was born near Oalion, O., May 

2, 1839. He was educated at Ohio Central College, and began the fire 
insurance business in Nebraska in 1858 as a local agent. He enliated 
as a private in a Nebraska regiment in 1861, and was mustered out at 
the close of the war as a captain. Returning to Nebraska he resumed 
his local agency, and was also for some years special agent for the 
Home of New York. In 1871, he was appointed special agent and 
adjuster for the Phenix of Brooklyn for a number of western states, 
and in 1876 organized the western department of the Springfield, with 
headquarters at Chicago. 

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Habtfobd Lifb asd AjmnnTT Insubanoe Compakt. 100 

■* Hare^ J. Montgomery, resident United States manager of the Nor- 
wich Union Fire insurance society of England, was bom at Princeton, 
N. J., in 1842. His father was the Rev. Dr. George E. Hare and his 
mother a daughter of the celebrated Bishop Hobart. He began his 
business life as a clerk in a dry goods house in Philadelphia, but soon 
after entered the office of the American Fire insurance company. He 
served one year in the Keystone Battery of Philadelphia in the ciTil 
war. In 1864 he went to JSTew York and became a partner of Charles 
P. Frame, and this business connection representing a number of 
prominent fire insurance companies has continued to the present time. 
Mr. Hare was appointed manager of the Norwich Union in May, 1879. 
He is an active member of the New York local board, of the TarUff 
Association, and other working organizations of fire underwriters. 

Harper, Edward B., president of the Mutual Reserve Fund Life 
association of New York, was born near Dover, Del., September 14, 
1843. Left an orphan at the age of thirteen he had to take care of him- 
self, which he did as a clerk in a Dover store. When he was twenty 
he entered a commercial college at Baltimore and received a thorough 
business education. After graduating he secured a position in a Phila- 
delphia banking house in which he rose in a few years to be manager. 
In 1868 he was offered and accepted the position of western manager 
of the Commonwealth Life of New York. He remained with this 
company six years and in 1874 took the New York general agency of 
the John Hancock Mutual Life. Mr. Harper founded the Mutual 
Reserve Fund in 1881, becoming its president and manager [see Mutual 
Reserve Fund]. 

Hartford Life and Annuity insurance company of Hartford, 
Conn., began business in 1866 as the Hartford Accident insurance 
company. The company at first wrote accident policies only, but 
in August, 1867, it extended its business to life insurance. The 
orieinal incorporators were: D. F. Seymour, Charles H. Northam, 
E. N. Kelloge. John A. Butler, C. M. Pond, Austin Dunham, £. H. 
Fenn. Hiram Bissell, Elisha T. Smith, William Hamersley. E. Thomas 
Lobdell, Stiles D. Sperry, Milo Hunt, John W. Danforth, Chester 
Adams, D. A. Rood, George Sexton, Joseph H. Sprague, H. W. 
Conklin, H. C. Beckwith, F. A. Marcy. C. C. Kimball, James B. 
Crosby, Julius Converse, H. C. Robinson, J. E. Coleman, Jacob 
Knous, and John R. Buck. 

In 1867 also the company changed its name to that of the Hartford 
Life and Accident insurance company, and the following year to that 
which it now bears. From 1867 to 1879 it did business on the ordinary 
life insurance plan, but in the latter year it adopted and perfected the 
plan of pure insurance, called The Safety Fund System, which it has 
since operated with unvarying success. 

Of this plan the volume issued by the Hartford Board of Trade 
says: 

"Applicants for insurance pay a single admission fee, which varies 
according to the amount required, but not with the age of the person. 
For collecting and distributing the funds, and all other expenses of 
manaf^ement, a yearly charge of a fixed amount for $1,000 of insur- 
ance la ma4e being the same for all ages, and the rate cannot be in- 

.,__, Google 



110 Hartford Lifr and Aknuitt Irrurancb Compaist. 

creased. The safety fund, which dyes the system its name, is made 
up exclusively of contributions of $10 per $1,000, required of each 
member once only, and placed in the hands of the Security company 
of Hartford as trustee for the policy- holders. Semi-annually the net 
income from the fund must be aivided pro rata among the holders of 
policies in force, who, five years before or earlier, contributed to it 
their full share, and the dividends thus accruinf; are applied to the re- 
duction of future dues and mortality calls. When the fund reaches 
one million, the contribution from new members are semi-annually 
added to the income from it, when the entire surplus thus accruing 
will be distributed in like manner. 

"The principal, placed by a deed of trust beyond the control of the 
company, remains at an even million, as a guarantee that death claims 
shall always be met in full, even if the membership for any cause be 
so reduced that stipulated mortality calls fail to produce enough to sa^ 
isfy the claims. 

"By mathematical computation the rates are so fixed that the 
amount of insurance in force must fall below one million dollars to 
cause an insufficient membership. Should such continsencnr occur, 
the trustee is required, from the principal of the safety fund, to pay 
all outstanding policies in full, without waiting for death to mature the 
claims. Had the condition arisen in the ear^ stages of the venture, 
and before the accumulations were sufficient to meet all liabilities in 
full, the deed provided for the division of the fund pro rata among the 
holders of policies in force." 

This unique plan of indemnity virtually applies to life protection 
the Safety Fund principle of security, which has so long been recog- 
nized in banking and fire insurance, modified only as required by cir- 
cumstances. From its inception its success has more than met the 
most sanguine expectations of those who fostered it. It is not confined 
to any one particular location or class of insurants, but it is wide- 
spread and meets with popularity among rich and poor alike. The 
patronage of the Safety Fund plan in the home state has been well 
nigh phenomenal. For several years ,the Hartford Life has enjoyed 
the distinction of writing more insurance in Connecticut upon the 
Safety Fund plan than has been written by any other New England 
company upon all plans combined. The company now has upon the 
books of its Safety Fund Department over twelve per cent, of all the 
life insurance carried by the citizens of Connecticut. When it is re- 
membered that of its thirty-eight competitors several have been doing 
business in the state more than three decades, it will be understood 
how great the popularity of this plan has been to attract such a follow- 
ing against this competition. 

The Hartford Life and Annuity has a paid-up cash capital of $250,- 
000, and had on the first of January, 1893, assets amounting to $l,b85.- 
986.27 with a gross surplus on policy-holders' account amounting to 
$880,845.91. ft also hr.s on deposit ^ith the treasurer of the State of 
Connecticut, $100,000. Its safety fund, which has been previously de- 
scribed, now amounts to over $950,000, invested by the trustee only as 
trust funds by the laws of Connecticut are permitted to be invested. 
During the period of its operation of the safety fund plan, the company 
has paid to the families of deceased policy-holders a sum in excess of 
$7,880,000, / 



y Google 



£[abtvobi> Steam Boilbr Insurancb Compakt. Ill 

The present officers of the company have lone been indentifled with 
its interests. R. B. Parker is president, E. C. Billiard, vice-president, 
Stephen Ball, secretary, Walter A. Cowles, assistant secretary, Andrew 
T. Smith, superintendent of agencies, and W. B. Warner, assistant 
superintendent of agencies. As medical examiner-in-chief Dr. Irving 
W. Lyon has been connected with the company since its or^nization. 

The board of directors are R. B. Parker, E. C. Hilliard, Hon. 
DwightLoomis, Hon. AlvinP. Hyde, J. D. Parker, Stephen Ball, N. M. 
Learned. 

The Hartford Life and Annuity is doing business only in the 
healthy and desirable portions of the United States, and does not seek 
for patronage outside of this country. It has been licensed by thirty- 
two States, in which it has well-organized departments under local dis- 
trict managers, who in turn are under the direct management of the 
home office. 

Hartford Steam Boiler inspection and insurance company was 
incorporated June 30, 1866. The authorized capital was $1,000,000. 
The sum of $500,000 was adopted as the basis upon which to begin 
business, $100,000 being paid in in cash and the balance being endorsed 
promissory notes. The business authorized hj the charter was ** the 
inspection of steam boilers and insuring against loss or damage to 
property, arising from explosions, or other accident in the use of 
steam boilers, and from fire resulting from such explosions." July 27, 
1868, the charter was amended, authorizing the company to insure 
against loss of life arising from explosions or other accidents in the use 
01 steam boilers and also against fire resulting from the same causes. 
Prior to 1874, two stock dividends had been declared by the directors 
and endorsed on the stock notes, the first one in 1872 amounting to 
$20,000, and the second in 1878 to $80,000. A further stock dividend 
was declared of $40,000, and $10,000 paid in in cash, making the capi- 
tal $200,000 and the stock notes were retired. June 26. 1874, an amend- 
ment was approved, authorizing the company to reduce its capital 
stock to any amount not less than $200,000. From 1874 until 1888 the 
capiul remained at $200,000. February 18, 1888, an amendment was 
passed by the legislature empowering the company to increase its 
capital to the extent authorizea by the original charter. The first in- 
crease under this amendment was made during the year of its passage, 
a stock dividend of $50,000 being declared. In 1887 the second increase 
was made, $250,000 being added by subscription, making the total 
$500,000. The figures have not since been changed. The object of 
the corporation from the outset was not simply to indemnify the owners 
of boilers for loss resulting from explosions, but also the prevention of 
such explosions, as far as practicable, by careful periodical inspections 
of all boilers under the care of the company made b^ competent en- 
gineers, expert in this special line of business. These inspections made 
?[uarteTly, and oftener when necessary, involved from the first three- 
ourths of the company's outlay. They were guaranteed by a policy 
of insurance, covering within certain limits damage to boilers, build- 
ing, and machinery. At the company's main office is a thoroughly 
equipped chemical laboratory for the analysis of waters which have 
proved injurious to boilers in use, the idea being the discovery of 



ioogle 



112 



Habttobd Steam Boilbb iNaxniANGB Cohpakt. 



remedies that will oyercome the difficulties encountered. Statistics 
and information are collected from all sections of the country, relating 
to boiler explosions, which are studied exhaustively in the manage- 
ment of the company's business, no line of inquiry concerning the use 
of steam and its efFects having been neglected by the officers. In addi- 
tion to these interests the company furnishes plans and specifications 
at reasonable cost for boilers, settings, and pipin^^ ; also for steam 
chimneys, and when desired it supervises the erection. The amount 
of steam boiler risks in force, December 81, 1892, was $198,415,052. 
Number«of inspections made in 1892, 148,608. The following is s 
summary of the work of inspection since the organization of the com- 
pany to December 31, 1892: Visits of inspection made, 714,821 ; whole 
number of boilers inspected, 1,416,732; complete internal inspection, 
542,08^; boilers testecl by hydrostatic pressure, 94,384; total number 
of defects discovered, 1,083.416; total number of dangerous defects, 
142,859; total number of boilers condemned, 7,809. The actual assets 
of the company reach a total of $1,625,229; net surplus, $106,098. The 
appended figures will indicate the growth of the company since 1880, 
the table including the annual statement for that year: 



Tear. 


AmoU. 


Premiums. 


ToUl 
Income. 


Lotus. 


Total Bxpen- 
te»,inclu<liDe 
Losses and 
Dividends. 

$904,069 


Risks 

In 
Force. 


1880 


$836,169 


$200,933 


$917,863 


$91,928 


$17,48S.967 


1881 


876,979 


239,747 


969,496 


13,194 


916,478 


90,106,782 


1882 


418.184 


971,699 


294.588 


36,958 


960,868 


93,464,719 


1888 


460.889 


301.819 


824,895 


91.817 


974,068 


96,871 ,8QS 


1881 


605,974 


81)1,607 


896,663 


15,801 


991,044 


96,878,821 


1883 


684.184 


854.861 


883.03(1 


10,646 


811,901 


88,415.396 


1888 


698,070 


485,868 


4ftS,.392 


40,070 


885,861 


46,119,104 


1«87 


1,096,616 


607.847 


647,792 


44,640 


437.619 


63,844,671» 


18HH 


1,975,114 


614,367 


679,14H 


40,Sll 


698,4v8 


91,t0t,148 


IfiSfl 


1,343,906 


668,661 


634,645 


41,909 


669,701 


191,900,690 


1890 


1.408.481 


674,698 


639.178 


65.913 


697,616 


149,698.954 


1891 


1,&58,435 


719.H76 


7*<1,9.S1 


69.044 


648,666 


178,618,908 


1893 


1,625,999 


716,297 


785,070 


106.793 


708,418 


198,415,058 



With exception of the tirst six months in the company's history, 
when the late £. C. Roberts was the president, Mr. J. M. Allen has 
been at the head of the management. The original secretary of the 
company was Harris H. Hayden. In 1869 he was succeeded by Theo- 
dore H. Babcock, who retained the position until February, 1878, when 
he assumed the management of the New York department of the com- 
pany's business, and was himself succeeded by the present incumbent 
of tbe office, Joseph B. Pierce. The present officers are Messrs. J. M. 
Allen, president; Wm. B. Franklin, vice-president; Francis B. Allen, 
second vice-president; J. B. Pierce, secretary. E. J. Murphy is con- 
sulting engineer. The board of directors is composed of Messrs. J. M. 
Allen, Frank W. Cheney, Charles M. Beach, Daniel Phillips, Richard 
W. H Jarvis, Thomas O. Enders, Leverett Brainard, Wm. B. Frank- 
lin, Nelson Hollister, Henry C. Robinson, Francis B. Cooley, Edmund 
A. Stedman, Qeorge Burnham, Philadelphia, Nathaniel Shipman, C. 
C. Kimball, and Philip Corbin. General Agents, Theo. H. Babcock. 
New York city, Corbin & Goodrich, Philadelphia, Pa., Lawford ^ 



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Haybn, Chableb D. * 113 

McKim, Baltimore, Md., C. E. Roberts, Boston, Mass., and Providence, 
R. I., H. M. Lemon, Chicago, 111., C. C. Gardner, St. Louis, Mo.. L. 
B. Perkins, Hartford, Conn., W. G. Lineburgh & Son, Bridgeport, 
Conn., Burwell & Bricgs, Cleveland, Ohio, Mann & Wilson, San Fran- 
cisco, Cal., Zollars & McGrew, Denver. Col., R. F. Manly, Birmine- 
bam, Ala., W. S. Hastie & Son, Charleston, S. C, Peter F. Pescud, 
New Orleans. La. Chief inspectors, R. K. McMurray, New York city, 
Wm. J. Farran, Philadelphia, Pa., F. S. Allen, Boston, Mass., and 
Providence. R. I., William Henford, Chicago, 111., F. S. Allen, Hart- 
ford, Conn., J. H. Randall. Bridgeport, Conn., C. A. Burwell, Cleve- 
land, Ohio, J. B. Warner, San Francisco, Cal., T. E. Shears, Denver. 
Col., B. F. Johnson, Birmingham, Ala., Charleston, S. C, and New 
Orleans, La., A. B. Ecoff, St. Louis, Mo. 

Harvey, Augustus Ford, actuary of the Missouri state insurance 
department, was born at Wateftown, N. Y., January 19, 1880. The 
life of Mr. Harvey is a fair illustration of the aptitude of the Ameri- 
can to turn his hand to many kinds of work, doing most of them well, 
and in this he is approached by the man of no other nation in the 
world. Graduating from Erie academy, at Erie, Pa., in 1886, Mr. 
Harvey went at once to the printer's case and in the quarter century 
following he was in succession journeyman compositor, school teacher, 
telempher, civil engineer, editor, United States land surveyor, rail- 
Toaa surveyor, fire insurance agent, justice, legislator, and actuary. 
He sank $22,000 in 1866 trying to establish a literary paper in Wash- 
ington, D. C, From 1857 to 1859 he was city engineer, and 1860 to 
1867 city recorder of Nebraska City, and 1865 to 1867 a member of 
the Nebraska legislature. During these years he was a fire under- 
writer at Nebraska City, and surveyed the line of the Midland Pacific 
railroad. He was actuary of the Missouri insurance department from 
1870 to 1874, then of the St. Louis Life, returning to the department 
In 1876, where he has since officiated as actuary. Mr. Harvey enjoys 
the distinction of being the only department official attending the con- 
ventions of the insurance commissioners who was a member of the 
first convention in 1871. He is a member of the Actuarial Society of 
America. 

HaskelLOeori^e P., manager of the New York state department 
of the New York Life insurance company, was born at Monroe, Mich., 
in 1886, passed the earlier years of his manhood as a traveling sales- 
man for a Chicago, 111., mercantile house. On the outbreak of the 
war he enlisted in a Colorado regiment, of which he subsequently 
became lieutenant-colonel. In 1872 he entered the service of the New 
York Life. Col. Haskell was president of the Life Insurance Associ- 
ation of New York in 1891-2. 

Javeiiy Charles D., resident secretary of the Liverpool and Lon- 
don and Globe, for the Pacific coast, was born in New York city, but 
has been a resident of California since 1869. He was first employed in 
Ban Francisco by the agents of the Pacific Mail Steamship company, 
and in May, 1865, was elected secretary of the Union insurance com- 
pany of California. In August, 1881, he resigned that position to ac- 
cept the one he now fills. 

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114 • HiPPLK. J. B. 

Heald, Daniel A., president of the Home inturanoe company of 
New York, was born at Chester, Vt., in May, 1818. His boyhood waa 
passed on a farm. He prepared for Yafe college, from which be 
graduated at the age of twenty-three years. He read law in New Ha- 
ven, and was admitted to the Vermont bar in 1843. While pursuing 
his vocation as a lawyer he was offered the local agency of the JEtna, 
and for thirteen years practiced both professions with signal sucoesa. 
He was invited by the Home to New York in 1856, and served the 
company twelve years as a general agent. In 1808 he was elected 
second vice-president, in 1888 first vice-president, and April 2, 1888. 
he succeded Mr. Martin as president. Mr. Heald stands at the head 
of American fire underwriters, and has served the business in various 
official capacities. He was president of the New York Board of Fire 
Underwriters in 1876 and 1877. and president of the National Board 
of Fire Underwriters from 1881 to 18£|p, inclusive. 

* Hegeman, John R«, president of the Metropolitan Life insurance 
company of New York, was born on Long Island, N. Y., April 18, 
1844, and served the usual mercantile apprenticeship from 1860 to 
1866, the latter part of which time, in a New York bank. He joined 
the Metropolitan Life as an accountant in December, 1866. In June, 
1870, he was appointed secretary of the company, and in October of 
the sameyear was elected vice-president. He succeeded the late Jo- 
seph F. Knapp as president in October, 1891. [See Metropolitan Life 
insurance company.] 

Henderson, J. 0., auditor of state of Indiana, having supervis- 
ion of insurance, was bom at New London, Ind., September 1, 1847. 
He was graduated at De Pauw University, and chose the profession of 
journalism. He is the editor and proprietor of the Eokomo Detpatch. 
He was appointed collector of internal revenue for the eleventh col- 
lection district of Indiana by President Cleveland in 1885. Mr. Hen- 
derson was elected auditor of state on the Democratic state ticket in 
1890, and re-elected in 1892. 

Hendrick, Albert €.,was appointed inspector of fire departments, 
fire patrol, and water supply, for the National Board of Fire Under- 
writers, in January, 1892, succeeding John W. Smith, who resigned on 
account of ill health. Mr. Hendrick was chief of the New Haven 
fire department at the time of this appointment. He had been chief 
fifteen years and connected with the department nearly forty years. 

HiU, WiUiam €«, state treasurer of Idaho, having supervision of 
insurance, was born at St. Louis, Mo., September 20, 1846. Mr. Hill 
has followed mercantile pursuits since his residence in Idaho, and was 
elected state treasurer by the people in 1892. 

Hippie, J. E., state auditor of South Dakota, having supervision 
of insurance, was born in Perry county. Pa., January 20. 1865. His 
home is Parkston, 8. D., where he is both an editor and farmer, his 
paper being the Parkston Advance. Mr. Hippie was elected auditor in 
1892. He Is the youngest of the state officials having supervision of 
insurance. 



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HOMB BSHSFIT AsaociATioif. 115 

■» Holcombe, John M., secretary and actuary of the Phcenix Mu- 
tual Life ihsurance company of Hartford, was bom in that city in 
June. 1848, and was prraduated at Yale college in the class of 1869, 
receiving afterwards the degree of M.A. While engaged in the study 
of law he embraced an opportunity to gratify his taste for mathe- 
matics by entering the actuarial department of the Connecticut Mutual 
Life. He was appointed actuary of the Connecticut state insurance 
department in 1871, and in July, 1874, went into the service of the 
Pbcenix Mutual as its assistant secretary. He was appointed secretary 
in Jvne, 1875. Mr. Holcombe has been much interested in the local 
politics of Hartf ord» and has been a member of the city council a num- 
ber of years, and president of both of its branches. 

^»HolliiifC8liead, Charles S., president of the Union insurance com- 
pany of Philadelphia, was born in New Jersey, January 10, 1850, and 
received his early training in insurance while a boy in the office of the 
Insurance Company of the State of Pennsylvania, of which corpora- 
tion his father was secretarv many years. In 1872, when but twenty- 
two years old. he was appointed manager of the fire insurance depart- 
ment of the Union, and 1889 he was elected president of the company. 

Hollingsworth, John E., commissioner of insurance for Texas. 
In March, 1892, a memorial was presented in the Texas legislature by 
A. R. Roberts, charging official misconduct against Commissioner 
HoUingsworth. The senate appointed a special committee to investi- 
gate the charges, which subsequently reported fully exonerating him. 

Mr. HoUingsworth was bom at Henderson, Texas, November 23, 
1848. He was post-office department inspector of the Texas division 
during President Cleveland's first administration. Upon resigning 
that office he accepted the chief clerkship in the Texas insurance de- 
partment, and succeeded Mr. Foster as commissioner in 1891. 

Homans, Shepard, president of the Provident Savings Life 
assurance society, was born at Baltimore. Md. , in 1881. He entered 
Harvard University in 1849, giving special attention to the study of 
mathematics and astronomy. While a student at the university 
observatory, his scientific attainments attracted the notice of the 
United States government, which called him to the coast survey ser- 
vice, and subsequently appointed him United States astronomer. On 
the death of Prof. Gill in 1855, Mr. Homans was appointed actuary of 
the Mutual Life insurance company. While holding this important 
position, he constructed and published the American Experience 
table and devised and applied to the distribution of the surplus of the 
Mutual Life its now well known Contribution Plan. He resigned 
from the Mutual Life in 1871, and in 1875 organized the Provident 
Savings Life. Mr. Homans was one of the founders, and the first 
president of the Actuarial Society of America, and is a corresponding 
member of the Institute of Actuaries of England, and has been a 
voluminous writer on actuarial and scientific subjects. 

Home Benefit Association of New York, an assessment company, 
at a special meeting called December Bl, 189!^, decided to wind up its 



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116 Home Inbusakcb Comfant. 

affairs and adopt a proposition made by the Commercial Alliance Life 
insurance company to re-insure all its risks. The change was not 
effected without opposition, but the final yote to carry out the plan 
was almost unanimous. The Home Benefit was organized in 1881, 
and had at the last report 2,100 members. There had been a good 
deal of dissension among the members. 

Home insurance company of New York was organized, April 18, 

1858, under act of April 10, 1849. the original capital being $500,000. 
The charter authorized fire, inland, and marine insurance, both of 
which were prosecuted by the company until 1870. when inland and 
marine operations were discontinued. April 18, 1864, an amendment 
was adopted, authorizing ocean marine insurance. That branch also 
was discontinued eighteen months after its inception. In 1888, marine 
and inland transactions were resumed under the charter. July 15, 1858, 
the capital was increased to $600,000, under act of June 25, 1858. Un- 
der the same act the amount was increased to $1,000,000, February 19, 

1859. The capital was doubled in amount December 81, 1868, and an 
additional increase of half a million was ordered July 18. 1870. making 
the total $2.500.00a The last increase was effected January 23, 1875, 
the amount being $500,000. Since that date the capital has remained 
at $8,000,000. Of the total increase $1,000,000 was realized from 
stock dividends. The original directors included Richard Bigelow, 
Lucius Hopkins, George C. Collins, Danford N. Barney, James Hum- 
phrey, Isaac H. Frothingham. Thomas McNamee, Ward A. Work, 
Oliver E. Wood, A. B. Barnes, Jasper Corning, Curtis Noble, and 
Thomas P. £1 bridge. The original members of the executive com- 
mittee were Messrs. Bigelow, McNamee, and Wood. Simeon L. . 
Loomis was the first president of the company, and Charles J. Martin 
the original secretary. Hoe Lock wood was temporarily president in 
1854, and was succeeded in 1855 by Charles J. Martin, who retained 
the ofiSce until February 14, 1888, when impaired health compelled 
his retirement. 

President Martin died May 9th, succeeding his resignation. Daniel 
A. Heald became president of the company April 2. 1888, and is now 
at the head of the management. He entered the employment of the 
Home in 1856 as general agent in Vermont. For ten years, 1881 to 
1891, he was president of the National Board of Fire tlnderwriters. 
The secretaries of the company from 1855 to 1888 were A. F. Will- 
marth, J. Milton Smith, John McOee, and John H. Washburn, the 
latter occupying the office for twenty -one years. In 1888, the secre- 
taryship was relinquished by Mr. Wsshburn, who continues in the 
first vice- presidency; Elbridge G. Snow, Jr., was made second vice- 
president, W. L. Bigelow and T. B. Greene secretaries, and H. J. 
Ferris and A. M. Burtis assistant secretaries. There has been no 
change in the official corps since that time. The directors of the 
Home are Levi P. Morton, Henry A. Hurlburt, William Sturgis, John 
R. Ford, William R. Fosdick, William H. Townsend. Oliver 8. 
Carter, Henry M. Taber, Daniel A. Heald, David H. McAlpin, Andrew 
C. Armstromg, Cornelius N. Bliss, Edmund F. Holbrook, John H. 
Waahburn, John H. Inman, Walter H. Lewis, Francis H. Leggett, 
Benjamin Perkins, Henry E. Beguelin, George W. Smith, George C. 

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Home Life Insurance Oomfakt. 117 

White, Elbridge G. Snow, Jr., George H. Hartford, Henry F. Noyeg, 
Lucien C. Warner. The total assets of the company, December 81, 
1892. amounted to $9,828,754. The total income fihiring the year was 
$5,882,888, the fire premiums aggregating $4,717,858, and the marine 
and inland $176,648. The total expenditures amounted to $5,455,567, 
the fire losses being $8,185,030; marine and inland. $128,248. The 
risks in force were $814,849,998. The premiums received since organ- 
ization aggregate $96,099,865; losses paid, $54,780,714; cash divi- 
dends, $8,815,000; stock dividends, $1,000,000. 

Home Life insurance company of New York was incorporated 
February 1, and began business May 1, 1860, being the first life insur- 
ance company organized in the city of Brooklyn. The capital stock 
was $125,000. The charter authorized insurance on the lives of indi- 
viduals and every insurance appertaining thereto or connected there- 
with, and to grant, purchase, and dispose of annuities. The Home 
Life was the first in this country to issue its form of deferred annuity 
bond by the payment of equal annual premiums. Its first president 
was Walter 8. Griffith. He was succeeded in 1878 by George C. Rip- 
ley, who had conducted the affairs of the companv from its organiza- 
tion as secretary, and who filled the presidential office until 1890, when 
advancing years impelled him to retire from an executive position, 
thouffh he continues a member of the board of directors. Mr. Charles 
A. l^wnsend was president two years, and gave way in 1892 to Mr. 
George H. Ripley, son of the former president, who came to the man- 
agement of the conopany after a long training in its office. The pres- 
ent officers of the Home are as follows: George H. Ripley, president; 
QeoTste E. Ide, vice-president; Elias W. Gladwin, secretaiy; William 
A. Marshall, actuary; F. W. Ohapin, medical director; William G. 
Low, counsel. The directors are J. S. T. Stranahan, George C. Ripley, 
John T. Martin, George A. Jarvis, S. E. Howard, Charles A. Town- 
send, John W. Frothingham, E. Lewis, Jr., William G. Low, Thomas 
H. Messenger, J. Warren Greene, Henry E. Pierrepont, Lemuel H. 
Arnold, Jr., George H. Ripley, Edwin Beers, Thomas T. Barr, George 
E. Ide, and Charles W. Ide. The head office is in New York city. 
William A. Newell is the manager of the western department, his office 
being located at Chicago. For a description of the policies issued 
by the Home, see the article in this volume on "policy forms.*' An 
engraving of the magnificent new building of the Home, which is in 
course of erection on Broadway, New York, will be found among the 
advertisements at the end of the volume. The assets of the company 
at the beginning of the year were $8,046,881. The premium income 
in 1892 was $1,814,782; losses paid, $710,548. The following is a 
tabular history of the company since its organization; the yearly re- 
ports being from 1875. It shows how the company was carried through 
the depression of 1877 to 1885, to advance thenceforth to a greater 
prosperity than it achieved in the " flush times " of life insurance fol- 
lowing the great civil war. 



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118 



Idaho, Insurahcb Supbbyisioii ik. 






Tetn. 


Total income. 


Total pavmenU 
to pollcy-holdew. 


AMeta. 


at end of year. 


1860 


$99,645 


$3,866 


$157,878 


$1,066,660 


1865 


493.090 


109,186 


890,029 


13,0m.660 


1870 


1,011.842 


495,186 


f2,e70,005 


88,992.4t9 


1875 


1 1,019,907 


511,583 


4.475,117 


80,522.578 


1876 


908.764 


531.928 


4,780,188 


19,902,744 


1877 


' 889,163 


648,406 


4.778,164 


16.80a407 


1878 


786.868 


596.151 


4,803,770 


15,308.663 


187ft 


748,917 


561,988 


4,829,057 


14,808,463 


1880 


674.781 


507.140 


4,021,187 


14,848.«e7 


1881 


714.683 


446,657 


5,087,382 


14,905,079 


188i 


786,074 


435,796 


5,185,685 


16,606,414 


1883 


806,981 


470.215 


5,405.548 


16,874,646 


1884 


820.807 


517,821 


5,457,687 


16,967,5«> 


1886 


836,257 


512,ffi» 


5,646,478 


17,819,416 


1886 


1,066.787 


603,653 


5,865,842 


19,450.061 


1887 


1,063.648 


559,368 


6.110,009 


81,766,596 


1888 


1,099,186 


613,159 


6,855,799 


22,748,209 


1889 


1,224,916 


6-^8,897 


6.694,305 


86.879,171 


1890 


1,848.140 


657,810 


7,8(18,949 


29,087.638 


1891 


1,629.446 


799.619 


7,593.980 


82.161,776 


\»Qri 


1,769.881 


990,839 


8,046.881 


88,008,W8 



Home Mutual insurance company of San Francisco, was pur- 
chased by the Fireman's Fund insurance company, in Februaiy, 1892. 
New officers were appointed. Secretary Charles R. Storey displaced 
J. E. Houghton as president. W. J. Dutton, president of the Fire- 
man's Fund succeeded J. L. N. Shepard, as vice-president, and 
Stephen D. Ives became secretary. General Agent R. H. Magill 
was continued. The price paid for the stock of the Home Mutual 
was said to have been $200 per share, involving an outlay of 
1600,000. The company continues in business. 

Horton, Rt L., state controller of Nevada having supervision of 
insurance, was born at Pittsburgh. Pa., October 12, 1832. Prior to 
his election in 1890 to his present office, Mr. Horton was a merchant at 
Austin, Nev. 

Humboldt Fire insurance company of Allegheny. Pa., in January, 
1892, elected John Selling, president, succeeding John A. Vemer, 
deceased. 

Hyde, Henry B., president of the Equitable Life Assurance 
Societvof United States, was born at Catskill, N. Y., in 1834. He 
was the son of Henry H. Hyde, the Boston representative of the 
Mutual Life, and received his insurance education in the New York 
office of that company. He founded the Equitable in July, 1859, and 
was its vice-president and manager from the beginning. On the death 
of President Alexander in 1874, Mr. Hyde was chosen to succeed him. 



Idaho, Insurance Snpervision in : Under the act of 1891, the 
state treasurer is charged with the supervision of insurance in Idaho, 
the term of office being two years. Frank R. Coffin was the first treas- 
urer, his term expiring January, 1893. His successor, the present in- 
cumbent, is William G. Hill, whose term will expire January, 1896 [see 



Illinois Statb Boabd of Fire Undbrwbitbrs. 119 

Hill, William C.]. H. N. Coffin is the deputy treasurer and attends to 
the insurance bureau. 

Illinois Insurance Report for 1893 : The twenty-fourth annual 
report of the auditor of public accounts said that the following insur- 
ance companies had been admitted to do business in the state since the 
last annual report : fire and marine insurance companies, Alamo, 
American Mutual of Rhode Island, Atlanta Home, Atlas of London, 
Capital Fire of New Hampshire. Commerce of Albany, Enterprise 
Mutual of Rhode Island, General Marine of Saxony, Keystone Mutual, 
Mutual Fire of New York. Prussian National, and Queen of New 
York ; miscellaneous insurance company, Missouri, Kansas, and Texas 
Trust company. During the same period 81 fire and marine and one 
life company of other states and countries and one Illinois joint stock 
fire and six Illinois mutual companies, ceased to do business in the state. 

Charters for two Illinois fire insurance companies were filed : the 
Pulaski Mutual of Chicago and the Chicago insurance company with 
a capital stock of $100,000. 

The auditor, Mr. Pavey, discussed the enormous fire waste of the 
country and recommended the enactment of a law making official in- 
Testigations of fires compulsory. 

Illinois, Insurance SnperYision in, 1869-1803. The general in- 
surance act of January 11, 1860. charged the auditor of public accounts 
with the supervision of insurance. The officials who administered the 
office from that date until 1898 were as follows: 

Charles E. LIppincott, 1869-1877 I Charles W. Pavey, 1H89-1808 

Thomas B. Needles, 1877-1881 I David Gore, 1808- 

Charles P. Swlgert, 1881-1889 

The legislature of 1898 passed an act establishing a distinct depart 
ment of insurance, with a superintendent at an annual salary of $8,500 
and deputy superintendent at $8,000. The act took effect July 1, 
1893, when the supervision of the insurance business in Illinois passed 
from the auditor of public accounts to the new insurance department. 
Bradford E. Durfee of Decatur was appointed superintendent by the 
governor and assumed the duties of the office, July 13, 1898. 

Illinois Life insurance company of Chicago was organized in 
January, 1892, with the following incorporators, all of Chicago: 

Gen. Walter C. Newberry, Morton B. IIull, vice-president National Bank of Amer- 
ica ; John B. Mailers, president National Bank of the Republic ; W. A. Thrall, jfeneral 
paiiMnfrer agent Chicago & North WeBtem railway : William D. Prceton, cashier Mot- 
ropolitan National Bank ; Jamen Ij. High, attomcv and director Globe National Bank ; 
Charles E. Fargo of Charlcf* H. Fargo & Co., wholewile bootn and nhocH : Attorney D. 



.1. Schayler ; Cbanncey Kelney. auditor Chicago A Alton railroad : A. O. Hall of Han- 
ford'Uall Oil company : F. N. Pitman, late general agent Imperial Fire insurance com- 
pany ; James B. Galloway of GuUoway, Lyman & Patton, real estate broker. 



Illinois State Board of Fire UndemriterB held its tenth 
annual meeting at Kankakee, beginning August 9. 1892. The execu- 
tive committee reported a membership of seventy-three, that 275 local 
boards were organized in the state, and forty one towns re-rated. A 
resolution was adopted to the effect that it was unnecessary and in- 
expedient to suspend any further rates on protected or sprinkled risks. 
The committee on the eighty per cent, co-insurance clause expressed 
the belief that its enforcement in all sections, at this time, would be in- 
expedient The report of the committee was adopted. After a long , 



ido 



Imperial Iivsuranob Compaht. 



debate on arc electric lights an additional charge of ten cents was 
decided upon, unlefts lighta were properly protected on top and bottom 
bv screens. The officers elected were: President, H. B. Washington; 
Yice-president, C. L. French; secretary and treasurer, E. O. Carlisle; 
executive committee, J. W. Robertson, G M Love joy, J. H. Lenehan. 
W. E. Witherbee, B. T. Wise, and R. 8. Odell. The office of the 
secretary is at 248 Rialto Building. Chicago. 

The Illinois State Board was organized in 1882 at Springfield, by 
the field men of stock fire insurance companies, the original call having 
been issued by Dr. B. T. Wise. The presidents have been J. M. Hos- 
ford. Dr. B. T. Wise, O. E. Culbertson, T. H. Smith. J. V. Thomas, 
J. W. Roberteon, C. L. Whittemore. J. II. Lenehan, George C. Gill, 
and H. B. Washington. The board is a supervising and rating body, 
and issues a minimum tariff for the " use of special and local agents 
in organizing local boards and revising and ratine new risks." For 
convenience of administration the state is divided into ten districts. 
The following companies are represented in the board: 



^Anh, Conn., 
American, Mar«., 
American, Pa., 
American. New York, 
American Central, 
Buriln^on, la., 
Caledonian, 
Citizens, New York, 
Commercial Union, 
Connecticut, 
Continental, 
Concordia, 
Delaware, 
Detroit F. A M., 
E<ialuble, R. I., 
FIn'man's Fund, 
Franklin, Pa., 
Gorman American, 
German Freeport, 
Glenn Falls, 



Granite State, 
Guanlian, Kng., 
Ilaniburji-Bremcn, 
Hanover, N. Y., 
Hartfoitl, 

Ins. Co. North America, 
Lancanhire, 

Liv. & London & (ilolx', 
liOndon Assurance, 
London & Lancanhin', 
Manchentcr, 
Merchant**, N. J., 
Merchant?, R. I., 
Mercantile, Ma*»s., 
Milwankee, Mich., 
National, Conn., 
Newark Fire, 
Niagara Fire, 
Northern, London, 
North Brltisih & M., 



Norwich Union, 

Orient, 

Pennevlvania, 

Phenix, N. Y., 

Phoenix, Enc., 

Prov.-Waahiiitrton, 

Palatine, 

Queen, 

Kockford, 

Royal, 

St. Paul F. A M., 

Security, Conn., 

Sprindleld F. & M., 

Sun, London, 

Syndicate, 

TraderB. 111., 

Transatlantic, 

Western, Can. 



Impaired Lives, Insurance of. [See "McCurdy."] 

Imperial insuraDce company, limited, of London, England, was 
organized and began business in 1803. The subscribed C4ipital is 
£1,200,000; the amount paid-up in cash being £300,000. The fire fund 
exclusive of paid up capital, January 1, 1892, was £1,830,172. E. 
Oozens-Bmith is the general manager of the company. The Imperial 
began fire insurance business in the United States in 1868, under the 
management of Edgar W. Crowell. He was succeeded as resident 
manager by Richard D. Alliger in 1876. Ten years later there was a 
reorganization of the American branch of the company, Mr. John C. 
Paige, on January 1, 1886, becoming resident manager and general 
attorney for the Lnited States and also manager of the eastern depart- 
ment. These positions he still retains, while Courtney & McCay are 
managers for the New York metropolitan district. Daniel C. Osman, 
Chicago, is manager for the western department, and William Bexton, 
San Francisco, for the Pacific coast department. In 1892, the Im- 
perial wrote fire risks of $171,176,588 in the United States. It received 
in net premiums $1,241,009, and its net disbursements for losses were 



,_.., Google 



LfnoiANA, Insubancb Sufbbyision in. 121 

$788,496. It had receiyed in premiums up to the close of 1892, since 
it had done business in this country, $19,884,258, and paid losses of 
$18,072,143. Its United States assets were $1,854,882, and its liabilities 
$1,184,457. 

Imperial Life insurance company of Detroit changed officers 
several times in 1892, ceased taking new business, and finally in Feb- 
ruary, 1898, disposed of its remainmg business to the National Life 
association of Hartford. The Imperial Life began business in 1886, 
with a capital of $100,000, issuing only renewable term policies. 

Indiana Association of Fire Underwriters is composed of com- 
panies belonging to the western Union and acts in concert with Com- 
mission No. 1 of the Union. The present officers are Frank Ritchie of 
the New York Underwriters Agency, president; John B. Croiper of 
the Home, vice-president; W. P. Benton of the Sun of London, secre- 
tary and treasurer; W. H. Fulton of the Fireman's Fund, W. J. Wood 
of the Insurance Company of North America, and J. H. Hellicks of 
the Springfield Fire and Marine, executive committee. The non-union 
companies doing business in the state are members of an independent 
organization known as the Indiana League of Fire Underwriters (see 
Indiana Insurance League, following). The two bodies act in har- 
mony, however, in all matters except agents' commissions, and their 
inspectors travel together over the state re-rating third, fourth, and 
fifth class towns upon an agreed schedule. The inspector of the asso- 
ciation is Captain Ashbrook, formerly special agent for the American 
Central of St. Louis. The association in June, 1892, appointed a 
factory improvement committee, modeled upon that of the New Eng- 
land Insurance Exchange. 

Indiana Association of Life Underwriters was organized at 
Indianapolis, June 8, 1891, and the following officers were elected: 
Edwin S. Folsom of the Phoenix Mutual, president ; D. F. Swain of 
the Northwestern Mutual, vice-president; E. M. Goodwin of the 
Travelers, secretary ; D. W. Edwards of the Provident Life and Trust, 
treasurer. At the first annual meeting, held Februa^ 9, 1892, the fol- 
lowing officers were elected : President, C. S. Warberton of the 
Massachusetts Mutual; vice president, D. W. Edwards of the Provident 
Life and Trust; secretary, E. A. P. Haynes, of the -^tna Life. The 
present officers elected at the annual meeting May 16, 1898, are: Presi- 
dent, D. B. Shideler; vice-president, F. B. Davenport; secretary, C. 
£. Newlin; treasurer, E. Q. Barcus. 

Indiana Association of Local Fire Insurance Agents : At the 
annual meeting in October, 1891, B. A. Richardson of Indianapolis 
was elected president; B. F. Havens of Terre Haute, vice-president; 
John F. Spann, Indianapolis, recording secretary; Horace M. Hadley 
of Indianapolis, corresponding secretary; and James E. Graham of 
Port Wayne, treasurer. 

Indiana, lusarance Supervision in, 1852-93: Insurance super- 
vision in Indiana is under the direction of the auditor of state, who 
is elected bv the people for a term of two years. These officers, since 
th9 establishment of the department, have been; 



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122 



Insttrancb Club of the Citt op New York. 



ErMtos W. H. Ellis, 


1850-1868 


John C. Shoemaker, 


18fn-l«7« 


John P. Dann, 


185.V18fi5 


James A. WUdman, 


187»-18r5 


Hiram E. Talbot, 


18B6-1867 




1875-1879 


John W. Dodd, 


1867-1861 


Mahlon D. Man»on, 


18n»-lS81 


Albert Lange, 


1861-1«63 


Edward H. Wolfe, 


18»l-18l« 


Joseph Ri^tine, 


186.S-1865 


James H. Rice, 


]88a-1867 


Thoraaa P. McCarthy, 


1865-1809 


Bruce Carr, 


1887-1891 


John D. Evans, 


1889-1871 


John 0. Henderson, 


1891- 



Mr. Henderson, the present incumbent of the office, was re-elected 
in 1892 for the term beginning January, 1B93. Q. W. Duke is the 
chief clerk of the department. 

Indiana League of Fire Underwriters is composed of repre- 
sentatives of companies doing business in Indiana, which do not 
belong to the Union. This organization and the Indiana association, 
which* represents the Union companies are working in harmony (see 
Indiana Association of Fire Underwriters). The following oompanies 
are members of the league: 

A^icultaral, Allemannia, British America, Citisens of Indiana, Conoordla. Srmns- 
vllle of Indiana, ParraerB of York, Pn., Franklin of Indiana, Fort Wayne of Indiana, 
Firemen's of Baltimore, Germania Fire of Now York, German of Frecport, German 
Fire of Peoria, Indianapolis German Mutual, Indiana Underwriters, Indiana insarance 
company, Milwaukee Mt*chanic8, Northwestern National, New Hampshire Fire, Peoples 
of New HampBhire, Pacific Fire of New York, Rochester German, Rockford, Vernon 
of Indiana, Western of Toronto, and Westchester Fire. The following companies, 
thouffh not members of the league, co-operate with it: Buffalo-German, Delawaie, 
Reading Fire, Spring Garden, Teutonia of Ohio, and Williams burgh City. 

The inspector for the League is Captain J. R. Preston. 

Industrial Life Insurance in 1892 : The following tabular state- 
ment exhibits the industrial life insurance business transacted in the 
United States in 1892: 



COMPANIES. 



Premiums 
Received. 



John Hancock, Mass 

Life Ins. Co. of Virgiuia, . . . . 

Metropolltsn, N. Y , 

Mutual, Md., 

Peoples Industrial, Conn.,. . . 

Provident Life, W. Va. 

Prudential, N.J 

Sun Life, Kentucky 

United States Industrial, N. J., 
Western & Southern, O., 



$3,914,498 

475,6a0 

12,514,078 

62,691 

274,340 

17,9'<1 

7,62S,84I 

114,995 

806,189 

140,664 



Losses 
Paid. 



$1,005,607 

120,496 

4,898,382 

25.493; 

89.551 

8,4491 

2,618,667 

28,518 

119,1011 

89,589 



Total 124,346,700 $8,844,628 $277,660,996 

Germania Life, N. Y.,» 





Policies 


Policies in 


Amount 


in Force 


Force Dec. 


Written. 


Dec. 81. 


81. 


' 


Number. 
656,435 


Amount. 


$29.326,6R0' 


166,428,121 


7,063,420 


72,718 


0.882,327 


127,222,476 


2,716,414 


805,461,576 


440.989 


2,856 


391,866 


4,310,981, 


64,830 


6.149,366 


569,110 


6,221 


552,451 


92,677,624 


1,668,466 


184,806,206 


4,198,0661 


80,611 


8,078,228 


9,804,909 


74,955 


8,386.626 


2,522.842| 


80,472 


9,707,366 


1277,660,996 


6496,472i $686,278,957 


1 


6,926 


816,707 



* Only policies and amount in force December 81, of industrial business reported. 

Insolvent Fire Insurance Companies. [See Reinsured and 
Failed Fire Insurance Companies.] 

Insurance Club of the City of New Yoilt was organized March 
30, 1891, with James A. Silvey as president, W. J. 6wan, vice-presi- 
dent, W. H. Crolius, secretary, and West Pollock, treasurer. A club 
house was fitted up at No. 52 Cedar street, August 1. 1891, the entrance 



Insubancb Dbpartmbntb, Chief Officers of. 123 

fee for resident members was made $80, non-resident $10; annual dues 
for resident members, $25, non-resident $12. The membership Jan- 
uary 1, 1893, was 600. The club will remove to capacious apartments 
in the extension of the Mutual Life building, when it is completed. 
The officers elected at the last annual meeting were: James A. Silvey, 
president; Wallace F. Peck, vice president; W. H. Crolius, secretary; 
West Pollock, treasurer. Governors, James A. Silvey, Herbert L. 
Keyes, Edmund Dwlght, Jr., Warren Sage, A. M. Thorburn, W. H. 
Crolius. George M. Coit, Wallace P. Peck, B. G. Ackerman, E. R. 
Kennedy. West Pollock, Charles C. Little, Charles W. Clinton, Ran- 
dolph Hurry, and D. G. 8 wain son. 

Insurance Company of North America of Philadelphia, founded 
1792, celebrated its one hundredth anniversary, December 10, 1892, by 
a reception at the home office. 

Insurance Department Officials, Annual Convention of. [See 
National Insurance Convention.] 

Insurance Departments, Chief Officers of. The following is a 
list of the state and territorial officials having supervision of insurance 
at the time this volume was put to press: 



States and Terri- 
tories. 



Names. 



Offlctal Title,. I ""^S^J^f- 



Alabama, .John Purlfoy, |8tate Auditor Montgomery. 

Arizona William Christy Treasurer, Phoenix. 

Arkansas, 'Charles B. Mills,. . . . | Auditor of SUte Little Kock. 

California, J. N. B. Wilson,* ; 1 nsurance Commis- 

I sioner San Francisco. 

Colomdo, F. M. Goodykoonts, . Superintendent of In- 
surance, Denver. 

Connecticut, Burton Mansfield, . . . Insurance Commis- 

I sioner, Hartford. 

Delaware Peter K. Meredith, . . I Insurance Commis- 

I I sioner, Filton. 

Dist. of Columbia, Matthew Trimble,. . . Assessor, Wa$>hington. 

Florida, C B. Collins, State Treasurer TallHhsssce. 

Georgia, William A. Wright, . Comptroller-Oeneral, Atlanta. 

Idaho William O. Hill State Treasurer Bolee City. 



Illinois Bradford K. Durft«,. 



Insurance Superin- 
tendent, SprinKfleld. 



Auditor of State,. . . . Indianapolis, 
ilnca 



Auditor of State, Dcs Moines. 



Indiana, J. O. Henderson, 

Iowa. C. G. McCarthy, 

Kansas, S. K. Snider, Superintendent of In 

i I surance Topeka. 

Kentucky, Henry T. Duncan, . . . Insurance Commis- 
sioner Frankfort. 

Lonlaiana, W. B. Spencer, 



Maine, '. . . Joseph O. Smith, . 



. Assistant Secretary 

of State, New Orleans. 

. Insurance Commis- 

I sioner, Augnina. 

Maryland, I. Freeman Raisin, . . Insurance Commi«- 

I sioner, Annapolis. 

Massachusetts, George S. Merrill,.. . . 'Insurance Commls- 

[ ' sioner, Boston. 

Michigan, Theron F. Glddings, .Commissioner of In- 
surance, Lansinc. 

Minnesota, Charles U. Smith,... . 'Insurance Commls- 

I i sioner, St. Paul. 



• If. p. Higglns has been appointed to succeed Mr. Wilson in April, 18M. 



ioogle 



124 Insurance Joubnalibm. 



SUtetandTerri- ^^^^ . nm^.i thu. OilldalReri- 



tories. 



Names. I OfflcUl Tltl«B. denccilr 



HlMiBsippi, W. W. Stone, Aoditor of Public 

I Acconnte, Jackaon. 

HiSfloori, Jamee R. Waddill, . . . SuperiDtendent of the 

InearaDce Depart- 
ment, St Louis. 

Montana, , Andrew B. Cook State Auditor Helena. 

Nebraska, Euf^ene Moore Auditor of Public 

Accounts, Lincoln. 

Nevada, R. L. Horton 8Ute Controller Careon City. 

New Uampvliire, John C. Linehan, Insurance Commia-; 

Bioiier, Concord. 

New Jersey George S. Duryea,. . . Commissioner of 

Banking and Insnr- 

, I ance, Trenton. 

New Mexico 'Demetrio Perez, 'Auditor of the Terrl- 

I tory Santa Fe. 

°'iperintendent of 
the Insurance De- 

I partment, Alliany. 

North Carolina, Octavius Coke, Secretary of State,. . Raleigh. 

North Dakota, James Cudhie Commissioner of In-, 

surance, Bismarck. 

Ohio, William M. Ilahn, . . . Superint<:ndent of In- 

I I surance Colnmbus. 

Oklahoma, Robert Martin, Commii?8ionor of In- 

I surance, Gnthrie. 

Oregon, jGeo. VV. McBride, . . . Secretary of State,. . . Salem. 

Pennsylvania, George B. Luper, Insurance Comniia- 

' i sioner, Hairisbnrg. 

Rhode Island, Albert C. Landers,. . . Insurance Commis- 

, sioner, Providence. 

South Carolina,.. W. H. Ellcrbe, ComptrollerOeneral, Columbia. 

South Dakota, J. E. Hippie .State Auditor Pierre. 

Tennessee, i £d. B. Craig, | Insurance Commis- 
sioner Nashville. 

Texas, i J. E. Boilings worth, Conimi«Hioner of In- 
surance, Statistics. 

; I and Hii«tory Austin. 

Utah, Charles C. Richards,. Secretary of the Ter- 
ritory, Salt Lake City. 

v^ormo.it ('. W. Browiiell, Jr. ( Insurance Commis- 1 m«„,,^i:-- 

^®""°"* HrnryF. Field | eioners, ) Mont pel ler. 

Virginia, Morton Marye, .\uditor of Public 

I Accounts, Richmond. 

Washington, James H. Price, Intiurance Commis- 

I sioner, Olympia. 

West Virginia, I. V. Johnson, Auditor, Charleston. 

Wisconsin, Wilbur M. Root, , Commissioner of In- 
surance, Madison. 

Wyoming C. W. Burdick State Auditor, Cheyenne. 



Insnrance Journalism. The foUowiDg is a list of insurance pe- 
riodicals which have been published in the United States, with tbe 
date of first publication, original and present location; and original 
and present publishers. Papers which are exclusively organs of com- 
panies and published by them are not included. The Cyclopedia is 
indebted to the Blue Book, published by Mr. C. C. Hine in 1876, for 
fp^cb of the data respecting the earlier insurance periodicals : 



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iNSmui^CB JoURNALISli. 125 

Periodicals prefixed by a * are no longer pnblished. 

I80O— *Iaeiirance Advocate and Joamal, Cblcopee, Maps., Alfred S. Qillett. The first 
pnblication itwued in tlie Interests of inearance in this country; a few numbers 
were printed. 

183S~*Tnckett's Monthly Inenrance Joarnal and Friendly Societies* Monitor, Phila- 
delphia, Harvey G. Tackett, monthly. 

1868~Iaaarance Monitor and Wall Street Review, New York. Thomas Jones, Jr., 
weekly, afterwards changed to monthly, now pablished by C. C. Hine. 

1S54— 'United States Insurance Gaaeite, New York,Gilbert B. Cnrrie, weekly, changed 
to monthly. 

1857— *Insarance Intelligencer, Phihidelphla, Orrla Rogers, monthly, afterwards 
chansred to fortnightly. 

1S57— •Philadelphia Underwriter, Philadelphia, W. R. Wade, monthly. 

1867— •Western Underwriter, Cincinnati, O., J. R. Payson A Co., monthly. 

lijSd— Wall Street Underwriter and General Joint Stock ReglBter, New York, J. B. 
Bcclesine, first weekly, afterwards monthly, now The Weekly Underwriter. 

1869— •Legal and Insurance Reporter, Philadelphia, James Fulton, fortnightly, after- 
wards weekly. 

I8S9— •Money Reporter and Insurance Journal, Chicago. B. W. Phillips, weekly. 

l83»-.*lii8arance and Railway Register, Chicago, John A. Nichols, monthly. 

18S9— •Insnrance Gazette, St. Louis, S. E. Conrtney, monthly. 

1H59— •Inenrance Reporter, New York, Ambrose Thompson, monthly. 

IStiO— •Railway and Insurance Reporter, Chicac^o, John A. NicholP, monthly. 

1861— 'Commercial and Inenrance Joomal, Plilladelphia, James Mclver, monthly, after- 
wards fortnightly. 

1861— «New England Insurance Gazette, Boston, William Hadden, monthly. 

180t — American Exchange and Review, Philadelphia, John A. Fowler, monthly. 

Ih6-i— Insurance Journal and Real Estate Gazette, New York. T. & J. Slater, monthly. 

18G3— •Underwriters Weekly Circular, New York, Grierson s Bcclesine, weekly. 

1865— Baltimore Underwriter, Baltimore, Md., John A. Nichols and C. C. Bombaugh, 
monthly, afterwards fortnightly, now pnblished by C C. Bombaugh. 

1865— •Northwestern Insurance Journal, Chicago, J. B. Wal^h & Co., monthlv. 

I866~Chronicle, Chicago, J. J. W. O'Donophne. weekly, afterwards transferred to 
New York, present editor, Franklin Webster. 

1867— Western Insurance Review, St. Louis, John P. Thompson & Co., monthly, now 
pnblished by Mrs. H. L. Aldrich, B. J Dunn, manas^ing editor. 

1867— •Iiworance Chronicle, Cincinnati, Tillinghast & Qrovenor, monthly. 

KH»8— Spectator, Charles D. LHkoy and James H. Goodsell, Chicago, monthly, after- 
wards transferred to New York and changed to weekly, now published by the 
Spectator Company. 

1868— Northwestern Review, Chicago, W. F. Brewster, now the United States Review, 
transferred to Philadelphia, now fortnightly, pnbliehed by R. R. Dearden 
and H. W. Smith. 

1880— Insurance Times, New York. Stephen English and Z. Wilmshnrst, monthly, now 
pnbllshsd by St. George Kempson; present editor, J. A. Van Cleve. 

1869-Philadelphia Underwriter, Philadelphia, S. B. Cohen, monthly, now published 
by B. Kellogg. 

1R09— •Insurance Gazette, St. Louis, George H. Dunning, monthly. 

1869— 'Review, afterwards National Review, New York, James R. Hosmer, monthly. 

I'fftt—'Insnrance Advocate, Richmond, Va., William B. Gretter, monthly. 

1870— "Observer, Chicago, monthly. 

1«71— •Avalanche, Pbiladeli)hia, C. E. Rollins and R B. Caverley, monthly. 

1871— •Insurance Herald, Cnlcago, George I. Yeager, monthly. 

1^1 —Insurance Law Journal, St. Louis. D. H. & H. L. Potter, monthly, afterwards 
transferred to New York, now pnblished by C. C. Hine; present editor, W. S. 
Nichols. 

1H71— Coast Review, San Francisco, J. G. Riley, monthly, now pnblished by J. G. Ed- 
wards; present editor, £. H. Bacon. 
1871— •New Jersey Review, Newark, N. J., Asher S. Mills, monthly. 
18Ti-.index. Cincinnati, W. T. Tillintrhast, monthly, transferred to Boston, name 
changed to the Standard In 1872, publication changed to weekly, now pnb- 
liabed byC. M. Ransom. 
19a— eEnqnirer, Baltimore, Md., Tyler & Markoe, weekly. 
187i— •Boalnesa Guide and Insurance Chronicle, Cincinnati, L. B. A I. G. Thome, 

weekly. 
1878— Insnnnoe Jonraal, Hartford, H. R.Hayden, monthly, now published by H. Hay- 
den. 
1913— Intaranoe Age, Now York, S. S. Norton, monthly, now published by Matthew 
Qrifflo; preeent editor, George W. Hatch. -.«-.. ^y ^^^ ^c^ "' 



126 InSURANCB JoURMALIBlt. 

187S-*EzpoBitor, PhiladelpbU, Nat. B. Froeoun, monthly, timnaf erred to New York. 
1S78— *Ageot and Policy-holder, New York, B. F. Bowman & Co.. fortnlshtly. 
1S74 -*Recordf Chicago, published by " The Underwriteni Union/' monthly. 
1H74— Insurance World, FiUsbun^h. J. C. BergstreMer, monthlv. 
1^74— luvefliif^ator, Cbica^ Reed & Bloominjfston, monthly, aiterwarda weekly; now 

published by J. SS. Bloomiui^ston. 
1874— •Insurance Press, Chica>fo, Uooi^e Cohen, monthly. 
1874— Insurance Critic, Chicago, O. W. A J. Keod, Jr., monthly, afterwards tran^fnTed 

lo New York; now published by Georee W. Corliss. 
1875— *Soatheru Policy-holder, Italelgh, N.C., John C. Hutson, monthly. 
l.Vi6 -*ObeerTer, Philadelphia, A. J. A J. M. Bowen, monthly. 
1875— *VUidlcator. Philadelphia, weekly. 

1875 — ^Insurance Watchmaii, llalei^^h, N. C, C. P. Brown A Co., monthly. 
1875— ♦Kecord, New York, J. A. Lowrey, monthly. 
1M77— Insurance and Commercial Magazine, New York, monthly, W. H. LiTlngsion. 

editor and publisher. 
1877— Review, New York, Dally Bulletin Association, weekly. 
1877— ^Insurance Reporter, 14 Park Place, New York, monthly. 
1877— Argua, Chicago, Charles £. Rollins, monthly, afterwards fortnightly. 
1878— Rough Notes, Indianapolis, Ind., H. C. Martin, publisher, monthW. 
1879 -Insurance Record, New York, C. J. Smith, monthly, present editor, Nat. B. 

Freeman. 
1879— ^Insurance Herald and Weekly Newsletter, New York, George B. Whitehome 

& Co., weekly. 
188S— 'Insurance Age, Sbelbvville, Tenn., John R. Dean, monthly. 
1(S8*2— 'Business Obi*erver, Cincinnati, O., John 1. Covington, semi-monthly. 
1881— Indicator, Detroit, Michigan, W. U. Burr, monthly, now published by the 

Leavenworth & Burr Co. 
1833— Our Society Journal, Journal Publishing Association, New York, monthly, now 

the Insurance Economist, John Maclay, editor. 
1883— Insurance, New York, Davis & Lakey, weekly. 
1883— Guardian, Boston, Mass., (;eo. D. Eldridge. monthly. 
188;»-Insurance News, Philadelphia, W. H. Wells, monthly, now published by Mrs. 

W. H. Wells; present editor, J. Harmon Ashley. 
1883— Vindicator, Atlanta, Georgia, afterwards transferred to New Orleans, Garrett 

Brown, monthly, now eeiuiweekly. 
1886— 'Investigator, St. Louis, chaii;;ed to the Examiner, weekly. 
1880— 'United States Insurance Journal, New Orleans, La., Henry C. Amos, monthly. 
1886— 'Courant, Cincinnati, monthly. 
1887— Pacific Underwriter, San Francisco, W. L. Eason, monthly, afterwards changed 

to fortnightly. 
1888— Insurance Herald, Louisville Courier-Journal Job Printing Co., monthly. 

Young E. Allison, editor. 
1888— Insurance Agent, New Orleans, La., monthly. 
1889— Views, Washington, D. C, Max Cohen, monthly. 
1889 -Independent, Chicago, G. L. McEean, monthly. 
1890— 'Western Mutual Underwriter, Milwaukee, monthly. 
1890— Insurance Echo, Philadelphia, monthly, now the Insurance Advocate, published 

at New York by H. E. Roberts 
1890- Black and White, Chicago, monthly, published by J. H. Kellogg. 
1891— •Radiator, New Orleans, monthly, began by W. E. Evans. 
1891— *Tezas Insurance and Banking Bulletin, monthly, Waco, Tezaa. 
1891— Adjuster, San Francisco, motithlv, J. A. Carey, present editor. 
1891— Insurance and Investors' Magaslne, Kansas City, Mo., monihlv, D. W. Wilder, 

publisher and editor; name changed to the Insurance Maeaalne. 
1892— Insurance Sun, San Francisco, monthly. Fred. S. Case, publisher. 
189«— Surveyor, New York, weekly, A. G. Hall, publisher. 
189:^InBurance Post of Chicago, semimonthly, Charles A. Hewitt, publisher and 

editor. 
1892— Industrial Insurance Herald, Norristown, N. J., monthly. 
1893— Underwriters Review, Des Moines, la., monthly, F. A. Durham, publisher. 

Besides these regular class papers, there are several daily and 
weekly papers which devote one or more columns of eaoh issue to 
insurance news and the discussion of insurance questions. The prin- 
cipal of these papers is the New York Journal of Commerce, and Com- 
mercial Bulletin, Sumner Ballard, insurance editor. Others are the 



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Insubanob Statistics. 



12* 



Kew Orleans States, Simeon Toby, insurance editor, Chicago Inter- 
Ocean, and Chicago Tribune amon^ dailies, and among weeklies the 
Independent, Boston Commercial Bulletin, Boston Courier, and San 
Francisco Commercial News. 

Some of the life and fire insurance companies issue weekly, 
monthly, quarterly, or occasional company papers. Among these may 
be mentioned the ^^tna, the Equitable, the Metropolitan, the Union 
Central, the Prudential, and the Union Mutual by the life companies 
of those names : the Weekly Statement by the Mutual, the Travelers 
Record by the Travelers, the Newsletter by the New York Life, the 
Ingleside by the United States Life, the Safety Fund Advocate by the 
Hartford Life and Annuity, the Golden Gate by the Fireman's Fund 
of San Francisco, Once in a While by the Traders of Chicago, Now 
and Then by the Glens Falls, Kambling Notes by Brown, Craig & Co. 
of Ban Francisco, Fidelity Journal by the Fidelity Mutual Life. 

Insurance Joamalists' Association of the United States was 
organized at Sutherland's restaurant, in the city of New York, October 
20, 1881. The first officers were Dr. J. A. Fowler, chairman ; Clifford 
Thomson, secretary, and C. C. Hine, treasurer. The executive com- 
mittee meets ei^ht times per annum and the association holds quarterly 
meetings, viz. ; m January, April, July, and October. At the annual 
meeting held October 29, 1891, C. M. Ransom, C. C. Hine, W. S. Nich- 
ols, Franklin Webster, Henry W. Smith, John A. Fowler, and J. H. 
C. Whiting, Jr., were elected an executive committee for the ensuing 
year. Organization was effected by choice of Mr. Ransom as chair- 
man, Mr. Whiting as secretary, and Mr. Nichols as treasurer. At the 
annual meeting December 3, 1892, these officers were continued. A 
banquet at the Hotel Imperial in the evening followed the annual 
meeting. The guests were : Mason A. Stone, president of the Green- 
wich Fire ; James G. Beemer, president of the Lloyds Plate Glass ; 
Edward Litchfield, United States manager of the Lancashire; and J. 
L. Halsey, vice-president of the Manhattan Life. The question of 
national supervision of insurance was discussed by all present. 

Insurance Post of Chicago, The. The first number of a semi- 
monthly insurance journal with this title, the proprietor and editor 
being Charles A. Hewitt, appeared under the date of January 16, 1892. 

Insurance Statistics. Aggregates of 1S93. The following is a 
general recapitulation of the assets, liabilities, capital, surplus, and 
risks in force December 81, 1892, of all insurance companies (except 
assessment life and accident companies) reporting to the New York 
state insurance department at that date : 



Companies. 


i 


Liabllitiee 

AsTCts. except i Capital. 

capiul. 


Surpliifl. 


RiBkB Id 
force. 


PIre 


189 
15 
81 
13 


$S86,89T,927 $121,785,813'tfi7.0«S.08K 


$67,687,029 

14,850,940 

106,663,820 

3,103,929 


$16,897,938,185 


Maiioe 


31,553,808 5,781,928 

908,784,637 789,674,017 

15,686,090 7,379,161 


1 1.430,000 
7,407,700 
6,304,600 


349,169.619 


Life 


4,707,918,487 


CMQAlty 


1,418,413,518 


ToUlB 


.,:. 


$1,177,873,033 $934,630,919 


373,317,386 


$180,638,718 


$a8,*r8,488J49 



Id8 tlTTSSNATIONAL AmOCIATION OF ACCIDBHT tJKDBRWRtTSRfi. 

[See also Fire Insurance Statistics, and Life Insurance Statistics, 
and tabulations in the Appendix.] 

Insnrance Statistics, Censos Report of. In April, 1893, the 
United States Census office reported the results of its inquiries into the 
fire, marine, inland marine, and tornado insurance business in the 
United SUtes by states and territories, in the decade 1880 to 1889, in- 
clusive. The following were the totals of the recapitulation tables: 



T«n Tears. 



Fire 
BastneM. 



Ocean 
Marine 
I BuBlnees. 



Inland 

Marine 

Boslnees. 



Riak written and re* ' 

Dewed $96,Q6S,49S.R8S $16,281,606,016 $4,719,717,049 

PreminmB and 



Tornado 
Baalneee. 



menta received in caeh. 

Loeeee paid in caph 

Average amonnt of pre- 
miums received for each 
$100 of risks written. . . 

Average amonnt of losses 
paid to eacti $100 of 
risks written 

Averafl;e amonnt of losses 
paia to eacli dollar of 
preminma received 



9Rft.09l,4fi8 
641,946,800 

0.9983' 

i 

0-5475 
0.5486, 



144,118,807 , 
90,674,68S | 



0.8884 



I 



»,106,419 I 
14,470,756 ; 



0.4684 



$158,466,748 

S.866,117 
196,319 



0.5584 



0.6S86, 



0.8066 



0.65461 



1.5411 



a4791 



0.81(9 



The fire insurance business is separated in the detailed tables, as 
term business and perpetual business. The totals for ten jeara are : 
Term business, risks written,and renewed, $^,880,688,498 ; cash pre- 
miums and assessments received, $984,651,709 ; losses paid in cash, 
$540,548,668. Perpetual business : risks written, $154,784,400 ; pre- 
miums received, $3,639,749 ; losses paid, $1,396,632, or a percentage 
on perpetual business of losses to premiums of 39.46. 

The census inquiries showed that within the decade, 1880-1889, the 
property of the citizens of the United States was protected against 
loss by fire and accident on land, ocean, lakes, and rivers to the amount 
of over $120,000,000,000, that this protection cost in premiums $1,156.- 
000,000 and that there was returned by the companies to the insurers, 
to indemnify them for losses sustained, $647,726,000 or 56 per cent, of 
the sum paid by them. Estimating expenses at 33 per cent., there was 
a margin of profit of a little over ten per cent. 

International Association of Accident Underwriters, com- 
posed of accident insurance companies on the assessment plan, was 
organized at Niagara Falls, N. Y., December 18, 1891. Seventeen 
associations took part in the organization, which was declared to be 
" to foster and guard the mutual interests of accident underwriting by 
the promotion of just and equitable laws as distinct from the business 
of life insurance. The first annual meeting of the association was 
held in Buflfalo, N. Y., June 27, 1892. President H. W. K. Cutter of 
the Mutual Accident Association of the Northwest presided. Papers 
were read by John Jordan on " The Agent, his Relations to his Own 
and Other companies, and by C. W. Oviatt on " Modem Surgery in its 



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Iowa tTimBRWiUTBBB' AssociATioti. 129 

Relation to Accident Insurance." The following officers were elected 
for the ensuing year: 



H. W. K. Catter, presideDt; D. J. Van Auken. Jr., vlce-presideDt; H. N. Kings- 
bary, treasarer, W. De M. Hooper, secretary. Ezecative committee: B. P. Dver. 
John Jordan, £. B. Trubey, J. I. Bamam, C. U. Banker, and H. N. Kingsbury. 



Iowa Inguranoe Report for 1892. The twenty third annual 
insurance report of the auditor of state was dated May 1, 1892. The 
following companies had been admitted to do business In the state 
since the previous report: Key City Fire of Dubuque, Iowa Fire of 
Des Moines, Firemen's of Chicago, Firemen's of Newark, N. J., 
National Fire of New York, 8t. Paul German Accident, Anchor 
Mutual of Creston, la., Merchants' and Manufacturers' Fire of Clin- 
ton, la., and Union Life of Omaha, Neb. Thirteen companies ceased 
to do business in the state. A number of assessment companies also 
failed to ask for renewal of license. 

Iowa, Insurance Saperrision in, 1870-1898. By act of the 
legislature of 1868 the auaitor of state was charged with the duties of 
insurance supervision. This official is elected by the people for two 
years. The following is a list of auditors since 1868: 



John A. Blliott, 1866-18n. 

John RoBsell, 1871-1875. 

Boren R. Sherman, 187&-1881. 

WUliam V. Lncas, 1881-1888. 



John L. Brown, 188a-1887. 

James A. Lyons, 1887-188& 

C. G. McCarthy, 1898- 



Btewart Goodrell is the deputy in charge of the insurance depart- 
ment of the auditor's office. 

Iowa State Insnrance Inspection Bureau. This organization 
has been in existence several years and was originally composed of most 
of the joint stock fire insurance companies doing business in the state. 
It is a supervising and rating organization. 

On May 10, 1892, the Bureau, bj a small majority, adopted an 
amendment to the constitution limiting commissions to recording 
agents to fifteen per cent., to go into effect August 1. TMs action, 
which was effected by the non-Iowa members of the association, was 
unsatisfactory to the representatives of the Iowa companies, who, 
through the president of the Bureau, Judge Ayres, declared that 
"it was out of the question for the Iowa companies to reduce com- 
missions to fifteen per cent., that it would be suicidal, as it 
would antagonize their faithful agents, and, through them, the people." 
At the annual meeting of the Bureau, October 12, 1892, after a pro- 
tracted contest, the fifteen per cent, commissions section of the con- 
stitution was repealed by a vote of 68 to 82. This resulted in the 
withdrawal of the western ''Union" non-state companies from the 
Bureau and the formation by them of a new organization named the 
Iowa Underwriters Association [which see]. The two organizations 
resolved to co-operate in all matters concerning the business in the 
state, except commissions. The Bureau elected as officers for the 
ensuing year: O. B. Ayres of the State, of Des Moines, president ; 
J. K. Powers, vice-president, and H. Clay Stuart of the Western of 
Toronto, secretary and treasurer. These, with M. E. Lease, Adam 
Howell, and W. B. Ryder, constitute the executive committee. 

Iowa Underwriters' Association, was organized by the field- 
men of western " Union " fire insurance companies doing business ilUTp 



180 Irvin, E. C. 

Iowa, October 12, 1892, resulting from a split in the Iowa State Insar- 
ance Inspection Bureau [which see], on the question of limiting 
commissions to agents to tlfteen per cent. A majority of the mem- 
bers of the Bureau having voted for the repeal of the constitutional 
rule, the minority withdrew and formed the new association, passing 
a resolution at the same time to cooperate with the Bureau in all mat- 
ters of business except commissions. The officers of the association 
elected for the year following were: E. S. Page of the Home of New 
York, president, W. F. Thummel of the Franklin Fire of Philadel- 
phia, vice president, and C. U. Turner of the Continental, secretary 
and treasurer. President Page died in March, 1893. The present 
officers who were elected at the annual meeting held at Dubuque June 
28, 1898, are W. E. Page of Des Moines, president ; Roger 8wire of 
Iowa City, vice-president ; O. U. Turner of Des Moines, secretary and 
treasurer. The executive committee are W. A. Hand, A. A. Clark, 
H. C. Alverson. £. W. AUbach, C. W. Fracker, all of Des Moines, 
A. J. Morrison of Marengo, and C. L. Kingsley of Waterloo. 

.^Ireland, Oscar II., actuary of the Massachusetts Mutual Life 
insurance company, was born in the city of New York October 28, 
1840. He graduated from the College of the City of New York in 
1859, and went into a mercantile house, but in 1868 loined the army 
as a lieutenant of the Signal Corps and served through the remainder 
of the war. After some years in South America he returned to New 
York and began his actuarial studies in the office of D. Parks Fackler. 
In 1872 Mr. Ireland received the appointment of actuary of the Massa- 
chusetts Mutual Life. 

Iron Hall, Order of the. Charges against the supreme officers 
of this, the leading endowment assessment order, were filed in the su- 
perior court at Indianapolis, Ind. , in August, 1892. It was charged that 
the concern was insolvent and that the supreme officers had been guilt j 
of misappropriating the funds of the order. They were arrested and in 
different states the courts appointed receivers for the local branches of 
the order. The downfall of this principal endowment organization 
precipitated the failure of like concerns all over the country, and at 
the time this volume went to press but few of them remained in actual 
operation. [See Endowment Assessment Orders.] 

^■r Irvin, E. C, president of the Fire Association of Philadelphia, 
was born near Harrisburg, Pa., May 22, 1839. While yet a youth he 
taught school at Duncannon, Pa., and was afterwards for a number of 
years manager of the Duncannon Iron Works. He entered the insur- 
ance business in 1869 as special agent for Pennsylvania of the Qer- 
mania Fire of New York. In 1874 he became general a^nt of the 
Phoenix of Hartford for a large territory extending from Pennsylva- 
nia to the Gulf of Mexico, with headquarters at Philadelphia. In 
February, 1884, Mr. Irvin was elected vice-president of the Fire Asso- 
ciation and succeeded to the presidency in February, 1891. 



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JOHK dAKCOCK MUTt7AL LlTB InSUBANCB OoUPANY. 131 



Jacob, Charles D.^ president of the Mutual Life insurance com- 
pany of Kentucky, was born at Louisville, Kjr., in June, 1838. He 
was carefully educated in some of the best institutions in this country 
and in Europe, and is an accomplished scholar. He served his native 
city as mayor four terms, and in 1885 went to the republic of Colombia 
as envoy and minister from the United States. Mr. Jacob has been 
prominent in public life in Louisville for many years, has been its 
mayor, is largely connected with its financial institutions, and is 
president of the Central Savings Bank. He succeeded President 
Temple in 1886 as the president of the Mutual Life. 

Jaloniek's Rating Bnrean. [See Texas Survey and Hating 
Bureau.! 

James, Alfred, president of the Northwestern National insurance 
company of Milwaukee, was bom at Johnstone, Scotland, but at an 
early age was brought to America, living at North Adams, Mass. Mr. 
James' first experience with the world was unique among men who 
have become fire insurance managers. He was a sailor eleven ^ears, 
from 1846 to 1855, and at the time he retired from that vocation he 
was commander of the clipper ship Oxenbridge. His introduction to 
fire underwriting was as a clerk in a Chicago agency, in 1856. From 
1860 to 1871 he was himself an agent, representing many companies, 
amone them the Northwestern National of Milwaukee. The compa- 
nies of his agency were losers of $1,620,000 in the great fire, and paid 
96 cents on the dollar. In 1875, while manager of the Chicago branch 
office of the Northwestern, he was called to Milwaukee to take charge 
of the companv, with the rank of vice-president. In 1887, on the 
death of Mr. Alexander Mitchell, he was elected president. 

James, Nathaniel T,, United States manager for the Alliance of 
London, was born in St. Louis, Mo., and went to California when ten 
years of age. In 1868, while a clerk in the office of the California in- 
surance company, he was appointed h^ President Johnson a cadet at 
the United States naval academy. He graduated in 1872, and was 
absent on foreign duty for some years. In 1878 he returned to Cali- 
fornia and became captain of a merchant steamer, and followed the 
sea until he was ofiFered a position in his old company. He was presi- 
dent of the California at the time of its absorption by the Alliance, to 
the United States management of which he was appointed. 

Jersey City insurance company of New Jersey re-insured its risks 
in the Liverpool and London and Globe in July, 1892, and retired from 
business. It was 36 years old, and had been doing an agency business 
outside its own state thirteen years. 

John Hancock Mntnal Life insurance company of Boston, Mas- 
sachusetts, was chartered April 21, 1862, the original incorporators 
including Nathaniel Harris, James P. Thorndike, and Gerrj W. 
Cochrane. George P. Sanger was elected president, and the com- 
pany's first policy was issued December 27, 1862. The primary 
object of the organizers was the establishment of a company that 
should from the beginning be an exponent of the Massachusetts non- 



lid JoHK Hakoock Mutual Lifb iHiuiuHcs Ooid^ABt. 

forfeiture law of 1861, and it was the first company in the state to 
pay a claim under a policy lapsed by non-payment of premium. The 
non-forfeiture law provided for eztendea term insurance for such 
period as 80 per cent, of the reserve would carry the policy, and, 
under the provisions of that law, the John Hancock paid to widows 
and orphans more than $500,000. 

Th re were crudities in the statute, especially as applied to endow- 
ment insurance, and in 1880 it was repealed. A new law was substi- 
tuted, however, taking effect January 1, 1881. Under its provisions 
every policy issued by the company becomes paid up by its terms after 
the payment of two annual premiums, and without action of any kind 
on the part of the policy-holder. The law also provides that on any 
anniversary, on a proper surrender, the company shall pay the sur- 
render value of the policy, which, in the case of an endowment policy, 
is very nearly the full 4 per cent, reserve. 

The John Hancock began business with a guarantee capita! of 
1 100, 000, which was retired in 1878, the company then becoming a 
purely mutual organization. The original board of directors consiiMbed 
of thirty-six members, the owners of the guarantee capital and the 
policy-holders being represented in the directory. One member of the 
original board, Samuel' Atherton, is still associated with the manage- 
ment, occupying the position of first vice-president. Hay 13, 1878, 
President Sanger resiitned and retired August 1 of that year from the 
position which he had held from the inception of the company. The 
associate ofl^cers at the time were Farnbuun Plummer, vice-president, 
George B. Ager. secretary, and Elizur Wright, actuary. Qeorge 
Thornton was elected president in 1874, filling the vacancy caused by 
the resignation of George P. Sanger. Samuel Atherton was advancea 
to the vice-presidency, succeeding Farnum Plummer, and Georee B. 
Woodward became the secretary and actuary of the company. Hon. 
Stephen H. Rhodes was chosen president in 1878, being at the time 
of his election insurance commissioner of Massachusetts. He resigned 
as commissioner March 12, 1879, having held the position since Decem- 
ber 8, 1874, and assumed the active management of the company, 
which he has since retained. The associate officers and directors are 
Messrs. Samuel Atherton, first vice-president; Samuel Wells, second 
vice-president and counsel; George B. Woodward, secretary; Charles 
G. Wood, treasurer; Frank Wells, medical examiner; Henry T. Cul- 
ver, superintendent of agents; Messrs. Samuel Atherton, James F. C. 
Hyde, Samuel Wells, Thomas F. Temple, Franklin Haven, Jr., John 
Carr, Albert H. Higgins, Charles E. Lauriat, Daniel Needham, Edwin 
B. Holmes, Stephen H. Rhodes, directors. 

In July, 1879, the company engaged in the prosecution of industrial 
insurance, being the pioneer in that branch of business in Massachu- 
setts. Its first industrial policy was issued July 7. From the outset 
the business developed with great rapidity. Through the intervention 
of President Rhodes, the non-forfeiture act of 1881 was amended, pro- 
viding that on policies of prudential or industrial insurance on which 
the weekly premiums are not more than fifty cents each, the surrender 
value in all cases shall be payable in cash. The equity of this provis- 
ion, which the company would have adopted without statute require- 
ment, commended industrial insurance to the public, ensuring the 



JOUBNAIilSTB AbBOOIATION, InBURANCB. 



188 



Bystem favor far and wide. The progress which the John Hancock 
has made as the Massachusetts representative of the industrial insur- 
ance plan is Bhown by the appended statistics, ezhibitins the number 
of policies and amount of insurance in force and the yearly gain since 
the adoption of the system by the company: 



The company's total insurance in force, December 81, 1892, in- 
cludlDf whole life and endowment, exceeded $78,000,000. At the 
beginning of industrial operations the amount in force was $13,000,- 
000. The rapid increase in the company's operations made it neces- 
sary that it should seek quarters where the business could more con- 
veniently be carried on than in rented rooms, and in 1887 it purqjiased 
a lot of land on Devonshire street, covering 12,500 square feet, on 
which it erected one of the finest buildings in Boston, moving into its 
present quarters in Februaiy, 1891. 

Under the provisions of the Massachusetts laws, the company is 
examined every three years by the insurance commissioner, and a 
provision of the by-laws of the company also provides for an annual 
examination by a committee elected by the policy-holders at the 
annual meeting. 

Jones, Charles N., associate actuarv of the New York Life insur- 
ance company, was born in the state of New York in 1848, and grad- 
uated from Oberlin College in 1871. Two years later he was appomted 
tutor in the preparatory department of that college, and in 1874 re- 
ceived the appointment of instructor in mathematics at the University 
of Michigan. In 1878 he was promoted to an assistant professorship, 
and again, in 1887, was made full professor, with the title of Professor of 
Applied Mathematics. In the spring of 1888 he received an offer from 
the Northwestern Mutual Life to loin its actuarial force, which he 
accepted. In 1892 he transferred his services to the New York Life. 

Joarnalism, Insurance. [See Insurance Journalism.] 

Jonmallsts Association, Insurance. [See Insurance Journalists 
Association.] t 



Tear. 


iDdutrUl PoUciw 
In Force. 


AmouDt of InsarADca. 


Annnal Gmin. 


1879 


9,327 






1880 


80,702 


$8,189,018 




1881 


86,032 


3,787,280 


$648,212 


1882 


48,568 


5,096,488 


1,809,258 


1888 


63,625 


6,730,902 


1,634,414 


1884 


80,629 


8,936,611 


2,205,709 


1886 


107,872 


12,600,935 


3,664,324 


1886 


148,850 


17,806,910 


6,204,976 


1887 


208,467 


28,802,502 


5,996,592 


1888 


256,574 


29,943,052 


6,140,552 


1889 


320,264 


86,365,419 


6,422,367 


1890 


402,147 


46,772,709 


9,407,290 


1891 


476,612 


54,516,614 


8,748.805 


1892 


556,485 


66,428,121 


10,911,607 



134 Kansas Life Ukdkrwbitbrs Absociation. 



K 



Kansas Board of Fire Underwriters. This organization is dor- 
mant, the Kansas law prohibiting associations of ore underwriters. 
Most special and general agents connected with Kansas business . 
belong to the Association of Fire Underwriters of Missouri, which is 
the successor of the Association of Fire Underwriters of Missouri. 
Kansas, and Ncbraslca, which dissolved in 1891 on the ground that 
"its executive function no longer existed outside the state of 
Missouri." 

Kansas Ciij Life Underwriters Association of Kansas City. 
Mo., was organized there in January, 1891, electing C. D. Whitehead 
president, J. L. Lord and J. A. Lewis vice presidents, and C. D. Will 
secretary. The present officers, elected at the last annual meeting, are 
C. C. Courtney, president, and William P. Rodgers, secretary. 

Kansas Insurance Report : The twenty second annual report of 
the Kansas insurance department was dated May 1, 1893. The com- 
panies admitted during the department year were the Delaware of 
Philadelphia, Home Mutual of San Francisco, Queen of New York, 
and Bankers Life of Lincoln, Neb. Nine companies retired. Super- 
intendent McBride advocated the making of fire Insurance rates by the 
state government, as follows: 

The raU« of the Kanens cotnpaniefl also nhow an increaflc of rates over the prerioii» 
year. In thle connt'Ction I draire to atate that in my opinion the anti-truet Uw (chapte- 
257, setwion laws of 1880) fails to necure a rtnlnction of insurance rates, but, on the con- 
trary, under the operation of thitt law rates have advanced for the flrat time in ^ix years. 
I would recommend that chapter 257, seHt<i()n Iuwh of 1880, be repealed, in so far as H 
relates to insurance companies, and that a law be pat>sed compcllinf; the insurance com- 
panies to establish rat^ of insurance for the stat4.\ and that the rates so established be 
filed with the superintendent of insurance. 

The laws should provide that, when cities and communities feel that an Injustice hsa 
been done them In rating, an uppt^al could l)e made to the superintendent of insorance, 
who, upon hearing, should make an equitable rating. Under the prt*ent syst<an, where 
laKei '■ ...... . 3 _ . ,. -..^ _ 



each companjr maKes its own rates, rural dintricts are charged exorbitant rates. The 
companies doing a farm inanrancc business charged a rate in nearly everj' case, averag- 
ing more than a five-year rate. If a regular rate by all companies was established on 
detached property, and the commercial rinks rated and the rates filed in this ofltce, there 
could not well be an overcharging by the soliciting agent«. I see no reason why the 
state shoald not tiave supervisory ix>wer over rates of insurance as well tm over rates of 
railroad traffic. 

Regarding the assessment business the superintendent said that he 
had " adhered to the rulings of his predecessor, construing the laws 
governing assessment life insurance societies and refused to license 
them to transact business in Kansas." 

The receipts of the insurance department during the year were $44,- 
913, and the expenditures $5,191. 

Kansas, Insurance SuperTlsion in, 1871-1893: The insurance 
department in Kansas was established by act of March 9, 1871. The 
insurance superintendents are appointed by the governor for a term of 
four years. The superintendents have been : 

William C. Webb, 1871-1873. Kichanl B. Morris, 1883-1887. 

Ed. RusHell, 1873 1874. : Daniel W. Wilder, 1887-18JH. 

H. Clarkson, 1^74-1875. , William H. McBride 1801-1893. 

Orrin T. Welch, 1875 1883. | S. H. Snider, 188J- 

Kansas Life Underwriters Association was organized at Topeka 
i^ 1892, with £. W. Poindexter as president, and C. G. Blakely as 

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Bjbntuokt and Tbithbssbb Undbbwbitiebs AseociATiOK. 185 



secretary. The present officers, who were elected at the annual meet- 
ing in May, 1898, are L. L. Hisgins of the Washington Life, president; 
J. £. Halsted of the Phoenix Mutual, vice-president; I. B. Snow of the 
Massachusetts Mutual, treasurer; W. J. Handy of the Michigan 
Mutual, secretary. 

^^ Kenny, J. J^ niani^g:ing director of the Western assurance company 
of Toronto, was born in London, England, in 1846. His parents re- 
moved to Canada when he was but a youth, and he was educated at 
Hamilton, Ont., and began his insurance career as a clerk in a local 
agency in that city. Subsequently he was employed in the office of 
the Canada Life assurance company, and. after two years service there, 
joined the staff of the Western. He filled successively the positions of 
inspector, secretary, and managing director, to which latter office he 
was appointed in 1880. 

Kentucky and Tennessee Underwriters Association. The 
Kentucky and Tenaessee League of fire insurance general and special 
agents disbanded in 1891, and June 9 of thatyear was succeeded by a 
new organization bearing the above title. The officers elected were 
Gen. John B. Castleman of the Royal, president; H. W. White of the 
Glens Falls, vice-president; C. B. Rogers of the Springfield Fire and 
Marine, secretary. At the annual meeting June 14, 1892, A. K. 
Murray of the Phoenix of Hartford was elected president in place of 
Gen. Castleman, who declined a re-election, and the other officers 
were continued. The executive committee chosen were C. D. Thomp- 
son of the Liverpool and London and Globe, J. G. Johnson of the 
Pennsylvania Fire, W. H. Wheeler of the Home of New York, Henry 
W. Gray, Jr., of the American Fire of Philadelphia, and A. w. 
Westgate of the Fireman's Fund. The present officers, who were 
elected at the annual meeting June 12, 1898, are as follows: C. D. 
Thompson, president; C. T. Baird, vice-president; A. W. Westgate, 
secretary. The executive committee is E. J. Watkins, G. A. Curry, 
J. C. Johnston, J. P. Singleton, and V. F. Moss. 

The association is a rating and supervising body in the states of 
Kentucky and Tennessee. There are local boards at all towns where 
two recording agencies exist. There are stamping secretaries at 
Frankfort, Harrodsburg, Winchester, and Covington, Ky., and Nash- 
ville, Chattanooga, and Enoxville, Tenn. ; and an inspector has been 
elected for Lexington, Ky. The companies represented in the asso- 
elation are as follows: 

of 



^tna, Hartford. 

American, Philadelphia. 

Caledonian, Edinborgb. 

Citizena, New York. 

Citizens, Tenneeeee. 

Connecticnt, Hartford. 

Continental, New York. 

Eoaiuble Fire and Marine, 
Providence. 

Fireman's Fund, San Fran- 
cisco, 



German - American, Kew 

York. 
Olcns Falls, Olens Falls. 
Hanover Fire, New York, 
Hartford Fire, Hartford.' 
Home* New York. 



Insurance Company 

North America. 
Lancashire. 

London and Lancashire. 
Liverpool and London and 

Globe. 
Manchester Fire. 
Mechanics and Traders, 

New Orleans. 
I Merchants, Providence. 
JMilwaakee Mechanics, Mil- 

National Fire, Hartford. 
Niagara Fire, New York. 
Northern, London. 



Norwich Union. 
Orient, Hartford. 



Pennsylvania Fire, Philadel- 
phia. 

Phoenix, London. 

Phenix, Brooklyn. 

Phoenix, Hartford. 

Planters, Tennessee. 

Providence Washington, 
Providence. 

Qaeen, New York. 

Royal, Liverpool. 

Southern. New Orleans. 

8prinfi;lleld Fire and Marine, 
Springfield. 

State Investment, San Fran- 
cisco. 

Sun Mutnal, New Orleans. 

Traders, Chicago. 

Western, Toronta ^qOqIc 



186 EirowLBB, Clarenck. 

Kentncky fnsnraiice Report for 1892. The twenty-second 
annual report of the insurance commissioner of Kentucky was issued in 
May, 1^. The following companies of all classes were admitted to 
the state durine the department year: Caledonian, Manufacturers and 
Builders of New York, Queen, Union of London, National Life 
of Vermont, New York Plate Glass, and the accident branch of 
the i£tna Life. Eleven Fire insurance companies and one Life insur- 
ance company withdrew. Discoursing about the enormous fire waste 
in the United States and the prospects for lessening it Commissioner 
Duncan said: 

Probably the most effectual remedy yet sogKosted — which has the merit of eereral 
yean' iiucctii8ful experience in at least one state to commend it — is a law in each of the 
several states requiring an investigation and report of the caascs of flres. Sach a law 
has been in force for several years past in Massachusetts, and the insnranoe commis- 
sioner of that state, in iiis report for 1891, says that it is prodacing most excellent 
results. It is, therefore, respectfully recommended that the Iegislat«ire now in seasion 
consider the ad\isabillty of adding a similar law to the statutes of this state. 

As to the results of fire underwriting in Kentucky in 1892, the 
commissioner said: 

The result In Kentucky for the year was unusually severe, the total premium receipts 
of all companies aniountingto $2,490. .580.38. and the losses paid $I,8S5,i74.03 — a rario 
of losM's to premiums of 73.8 per cent., which is 18.8 per cent, in excess of the usual 
estimate for fosses wliich a company can stand and do a profitable business. The busi- 
ness of all the Kentucky companies being confined principally to this state, it iis 
therefore, small wonder that of the elghiy-two coniimnies above referred to as hav- 
ing been forced to retire during the year, five of them were Kentucky companies. 

The commissioner also called the attention of the legislature to the 
transactions of the endowment a8se^8ment swindlers in the state and 

ged that measures might be taken to bar them out. 

The receipts of the insurance department for the year ending June 
80, 1892, were $27,033; expenditures, $13,831. 

Kentucky, Insurance Supervision in, 1870-1894. The insurance 
bureau is a department of the state auditor's office, the official in 
charge being appointed by the state taiditor for four years, bearing the 
title of insurance commissioner. The following is a list of the com- 
missioners from the organization of tlie bureau. 

Gnstavus W. Smith, 1870 1875 I Lebiic C. Norman, 1880-1W8 

Bedforti Leslie, 1«75 1880 | Henry F. Duncan, 188»-lija2 

Mr. Duncan was appointed in 1889 to fill out the unexpired term 
of his predecessor. He was reappointed for four years in January, 
1892. W. T. Havens is the deputy commissioner. 

Kentucky Life Underwriters Association. [See Life Under- 
writers Association of Kentucky.] 

Kllbnrn, Daniel W., Boston general agent of the Connecticut 
Mutual Life. [See Death Roll.] 

KnowleSy Clarence, southern general agent at Atlanta, Ga.. is 
a native of Peusacola, Fla., where, on leaving school, he entered 
a local agency. The New York Underwriters Agency called him to a 
position in its home office at New York, from which he was sent out 
to do adjusting. Subsequently the Agency appointed him its special 
agent for the southern field. It was during his twelve years of 
service for the Agency that he assisted in the organization of the 
South Eastern TariJQt Association in 1882, and was its first president 



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liAlfCASHIBB InBUBAJTCB COMPANY. 187 

and re-elected for five successiTe tenns. In 1884, when the €tonnania 
Fire of New York withdrew from the Agency, it appointed Mr. 
Knowles its southern manager with headquarters at Atlanta. He also 
became agent for the Mutual Fire of New York and the Pennsylvania 
Fire of Philadelphia. The (Jermania withdrew from the South, 
except in a few cities, in 1893, and Mr. Knowles insured its southern 
risks in the Delaware, of which he was appointed southern manager. 



Lafayette Fire insurance company of Brooklyn, N. Y., retired 
from business in January, 1892, its risks being reinsured by the Home 
of New York. The Lafayette was incorporated in 1856. It had 
$150,000 capital and confined its business mostly to New York city 
and Brooklyn. 

Lancashire insurance company of Manchester, Eng., was notified 
by the Massachusetts insurance department in February, 1892, that 
it must possess additional assets of |487.000 in the United States 
to continue to do business in Massachusetts. This action by the 
department was taken in accordance with the statute law which rates as 
capital of a fire insurance company of a foreign country all deposits 
made by it with state authorities in the Unitea States, and therefore 
charges them up as a liability against the company. The large deposit 
made by the Lancashire with the New York insurance department 
caused this condition. Subsequent legislation in New York permitted 
the withdrawal of a portion of its deposit, and it resumed business in 
Massachusetts in 1893. 

A "General American Department" was established by the Lan- 
cashire in January, 1892, after its reinsurance of the business of the 
three Armstrong companies, the purpose of the department being 
to continue the business of those companies and such as might be 
added to it, on the Armstrong plan, so called. George Pritchard was 
appointed manager of this department with S. £. Barton as secretary. 
There was a separate office in New York for this business. The 
department was discontinued and its business merged with that of the 
United States branch office in February, 1893. 

The Lancashire closed its central department, baring headquarters 
at Cincinnati in December, 1892, and agents were directed to report to 
the head office at New York. 



The Lancashire was organized and began business in the year 1852. 
The deed of settlement provided that the company has the power 
of granting insurance on lives, or against anv contingency involving 
the duration of human life; also to guarantee the fidelity of persons; to 
insure against risks or damage to any kind of property by fire; 
and against the risk of loss and damage to ships at sea on voya^, 
or to Uieir cargoes, and to do all such other business as is transacted by 
fire, life, and marine insurance offices. The company has availed 
itself of none of the privileges given in its charter or deed of settle- 
ment, excepting that of doing fire and life insurance business. In the 



138 LaKCABHIRB b^SURANCB COKPAKT. 

United States of America, the company's operations are restricted 
solely to the fire insurance business. 

The report of the forty-first annual meeting of the company, held 
at Manchester, March 9, 1898, presents the following account of the 
position of the company December 81. 1893: *' During the year 479 
life policies were issued, assuring £174,610, and producing in new 
premiums £9,010 16s. 7d. The income, after deducting sums paid for 
re -assurances, amounted to £122,355, bein^ an increase of £3,310 upon 
the income of the year 1891. The claims from 147 deaths and 9 
matured endowments amounted to £66.693 13s. 6d., and after pro- 
Yidinf: for these and the other sums detailed in the annexed accounts, 
the life reserve fund has been increased from £862,639 2s. Id. to 
£891.686 19s. 4d. 

" The fire premium income, after deducting re-insurances, amounted 
to £922,847 12s., being an increase of £17,608 16s. 7d. upon that of the 
previous year. The claims for loss and damage by fire, including 
outstanding losses, amounted to £607,204 13s. 4d., and after providing 
for these, and the commissions and expenses, there was a surplus of 
£41,047 lis. 8d., which has been carried to the profit and loss account. 

' ' In the previous jrear's report the directors intimated that they had 
secured a large and hitherto profitable business in America, on terms 
which they believed would be remunerative to the company. The 
individual limits, however, were found to be, in numerous cases, too 
large to be retained by the Lancashire, while others were undesirable 
on their merits, and in consequence the directors considered it prudent 
to cancel or re-insure such exceptional limits and risks, and the cost 
thereof, and of claims under other policies which it was decided not 
to renew at expiry, amounted to £86,268 18s. 3d. By the payment 
of this sum, and that set aside last year, the whole liabilities of the 
company incurred by this purchase were discharged. The directors 
resolved to treat this in the same way as was done with the good- 
will account the previous year, and spread it over the accounts of 
three years. The sum of £23.756 4s. 5<1. had therefore been charged to 
to the profit and loss account of the year 1892." 

The directors went on to say in their report: 

"The carefully selected business placed on our books by this 
purchase amounts to £201,868 per annum, and the directors have con- 
fidence in a satisfactory profit being secured therefrom. A separate 
department was established in New York with separate ofllce and 
staff to carry out this transfer, but now that such transfer has been 
completed, such separate management is no longer necessary, and 
it has accordingly been determined to consolidate our whole American 
business in one ofiSce and under one management, in New York, 
which, while maintaining efiiciency, will tend materially to reduce 
expenses. 

" The investments of the company produced in interest the sum of 
£60,511 2s. lid., whereof £85,013 7s. 4d. belongs to the life branch. 
The amount of the profit and loss account is £86.860 Is. lid., from 
which have been paid the foreign state taxes (£9,838), the second 
installment of the good-will named in the last report (£11,429), and 
two half-yearly dividends at the rate of 10 per cent., amounting 
to £27,298 128. After providing for these payments a balance 



hJkSCABBlXB InBUBAITCE COMPANY. 189 

remained of £88,294 88. 6d., which has been disposed of by the 
payment, on the American account already named, of the sum of 
£28.756 4s. 5d., and carrying forward to next account the sum of 
£9,587 lOs. 

"The general funds of the company are now as under: Capital 
paid up, £272,986; life assurance reserve fund, £891,686; fire insurance 
and reserve funds, £400,000; balance carried forward, total, £1,574,- 
210." 

The directors concluded their report by saying that some months 
ago, Mr. George Stewart had intimated, on account of the state of his 
health, his desire to resign his position as general manager and actuary 
of the company, which he has held for thirty-five years, and at the 
request of the directors, agreed to act until the close of March of the 
present year, and then to accept a seat at the board. The directors 
had not only anxiously considered, but were giving constant attention 
to the question of the future management of the company, and 
hoped in the course of the year to complete arrangements which they 
trusted would not only ensure its increased success, but be satisfactory 
to the shareholders. 

The difficulty of selecting a successor for a position so important as 
that held by the retiring manager was happily solved soon after the 
annual meeting, by the appointment of Mr. Digby Johnson. This 
gentleman had had nearly thirty years practical experience in under- 
writing in the office of the Royal. He entered that office as a clerk 
and rose by successive grades to the position of sub-manager under 
Mr. McLaren. Ue was two years with the Guardian of London as 
chief of its foreign department, but returned to the Royal and there 
remained until he was called to the management of the Lancashire. 
Mr. Charles Povah continues under Mr. Johnson's administration 
as sub manager and has charge of the life department. 

In the year 1872, the company established a United States depart- 
ment under the management or Joseph L. Lord of New York. The 
company was admitted to do business in New York, June 24, 1872; 
Massachusetts, August 12, 1872: and Illinois. November 14, 1872. 
Pennsylvania, Missouri, Michigan, and Connecticut were entered in 
1872, and Ohio in 1878. To-day the company has a large business 
connection throughout the entire United States. Soon after the entry 
of the company into Massachusetts, the conflagration of 1872 in Boston 
occurred, when the Lancashire lost about $125,000. Mr. Lord's man- 
agement continued until 1877, when he was succeeded by Henry Rob- 
ertson, who had previously been connected with the chief office of the 
company in Manchester. In 1880, the Scottish Commercial insurance 
company of Glasgow amalgamated with the Lancashire, and Edward 
Litchfield, who at that time was the secretary at the head office of the 
Scottish Commercial at Glasgow, was sent over to America as the 
assistant of Mr. Henry Robertson. In 1884, Mr. Robertson resigned 
his position as United States manager, and Mr. Litchfield was ap- 
pointed to succeed him. Mr. George Pritchard, who had received his 
training in the chief office of the company at Manchester, was made 
sub-manager. He returned to England in 1898, and his duties are now 
performed by Mr. Dan Winslow, 



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140 



LiKK, Jambs N. 



In July, 1886, the company decided to appoint United States 
trustees, and the gentlemen who were selected and who are still the 
United States trustees of the companywere, Donald Mackay, Cornelius 
N. Bliss, and Horace J. Fairchild. The funds in their hands as trus- 
tees at present amount to the sum of $1,285,805, which is in addition 
to the company's building, No. 25 Pine street, which stands at the 
cost price in the company's books of $888,992.85. 

The company has a branch office in Canada, James G. Thompson, 
manager, and his territory includes the provinces of Ontario, Quebec, 
Manitoba, the Northwestern Territories, and British Columbia. In 
July. 1891, Dan Winslow was appointed Assistant United States 
Manager. Mr. Winslow received his training in the Commercial 
Union insurance company. P. A. Montgomery of Chicago is in 
charge of the Western field, and George D. Farr is assistant manager. 
The field presided over by Mr. Montgomery embraces the states of Illi- 
nois, Wisconsin, Michigan, Iowa, Minnesota, Nebraska, Missouri, 
Kansas, Colorado, Arkansas, North Dakota, South Dakota, Montana, 
and Wyoming. Major Hutson Lee of Charleston is the general agent 
for North and South Carolina, Georgia, Alabama, and Louisiana. 
The appended figures will show how the business of the Lancashire 
in the United States has grown since its establishment here in 1873: 



Year. 



Net Cwh Premium. 



Lomee Paid. 



Total AfiBcta. 



1878 


$840,690 


1873 


487,174 


1874 


558,496 


1875 


565,818 


1876 


499,660 


1877 


481,183 


1878 


662,386 


1879 


750,938 


1880 


937,110 


1881 


971,508 


1882 


1,048,463 


1883 


1,091,456 


18M 


1.074,504 


1885 


1,178,144 


1886 


1,175,887 


1887 


1,336,994 


1888 


1,319,928 


1889 


1.4'>4,983 


1890 


1,657,067 


1891 


2,804,298 


1893 


2,'nM,858 



$160,269 
369,832 


$368,207 
425,457 


166,771 


668,444 


836,023 


609,568 


801,767 


495.109 


288,880 


743,7»7 


806,175 


826,806 


610,854 


878,899 


598,097 


1,509,868 


679,974 


1,502,661 


733,461 


1,106,818 


766,488 


1,456,315 


753,079 


1.488.S8S 


734,249 


1,513,228 


705,216 


1,498,187 


909,782 


1,643,196 


897,893 


1,706,413 


996,800 


1,880,688 


l,0ft3,515 


8,010,319 


1,337,267 


2,901,893 


2,4r5,236 


8,894,758 



Lane, I. Bemsen, president of the Hanover Fire insurance com- 
pany of New York, was born in the city of New York in 1840. At 
the age of fifteen he was admitted to the ofiSce of the Hamilton Fire 
of New York as a junior clerk. In 1863 he was with the Williams- 
bureh City and a vear later joined the office force of the Hanover Fire. 
In August, 1866, )lr. Lane was appointed secretary and in December, 
1877, was promoted to the vice presidency. On the death of Mr. Wal- 
cott in 1890, be succeeded to the presidency. 

Lane, James N., home office manager of the Palatine and United 
Fire insurance companies of Manchester, England, was bom in £ng> 
laud in 1841, and his first essay at insurance was in the office of the 



Legal Dbcisionb nv 1892. 141 

Royal. He was afterwards resident secretary of the Liverpool and 
London and Globe for the west of England at Bristol; manager of the 
Mutual of Manchester from 1877 to 1890; and has been the manager of 
the United Fire of Manchester since June, 1877, and of the Palatine 
since its formation in 1886. 

■■^ Landers, William J., Pacific coast manager of the Guardian of 
London, was born in Brooklyn, N. Y., in 1851. He engaged in the 
insurance business in San Francisco in 1869 as office boy and clerk, and 
from 1871 to 1876 was counter clerk and adjuster for the Imperial. In 
1879 he received the appointment of general a^ent for the Guardian. 
He is president of a gaslight company and vice-president of a street 
railway company, and is largely interested in California real estate. 

Latoii, Charles A., manager for the Palatine of Manchester for 
the Pacific coast, was born in New York city March 15, 1838. He 
emigrated to California in 1856, and has been engaged in quartz min- 
ing, banking, and insurance ever since. He was appointed local agent 
in 1858 and 1859 for the Liverpool and London and Globe insurance 
company at Grass Valley. In 1866 he was elected secretary of the 
marine department of the Pacific insurance company; in 1868 became 
general agent at Chicago for the Western department of the Pacific, * 
and in 1875 secretary of the Commercial of San Francisco. Mr. Laton 
has held the general agency for several eastern companies on the 
Pacific coast. 

Law, iDsaranoe. [See Legal Decisions and Legislation.] 

Lawyers Surety Company of New York, incorporated in Jan- 
uary, 1892, to do the business of surety on bonds required by law to 
be given by corporations or individuals in judicial proceedings, elected 
Jo^ B. Erhardt, president, and Frederick F. Nugent, second vice- 
president and manager. 

Lee. Hatson, general agent of the southeastern department of the 
Lancashire, was born at Charleston, S. C, March 4, 18{$4. His boyhood 
was passed on an Alabama plantation and his education was at the 
South Carolina college. The civil war came on soon after his gradua- 
tion and he went into the Confederate army as an orderly -servant and 
was mustered out with the rank of major. He entered the insurance 
business in his native state, representing various companies until his 
connection with the Lancashire in 1878. Maior Lee was twice presi- 
dent of the Fire Underwriters Association of the South. 

Legal Decisions Affecting Insurance in 1892. Under the sub- 
heads of "Accident Insurance," "Assessment, Life, and Fraternal 
Benefit Insurance," "Fire Insurance," "Life Insurance," "Marine 
Insurance," and "Miscellaneous" will be found the most important 
decisions of the higher courts of the United States and of the various 
states during the year 1892. Space will not permit the repetition of 
the same cases under different heads, and for that reason, if all cases 
bearing on a point are to be reached, it will be necessary in some in- 
stances to refer to several heads. For example, there may be good cases 
on " application," under that head, in either of the subdivisions given 
above. [See Anti-Rebate.] 



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143 Legal DbcsKionb » 1892. 

AOOIDENT INSURANOB. 
Applieatum. — A companj cannot escape liability on the ground 
that the insured, who was deaf, sifi^ned an application stating that be 
was not subject to any bodily infirmitpr, where it appeared that the 
company's agent who took the application had full knowledge of the 
physical condition of the insured. — Follett v. U. S. Mut. Ace. Assn. 
(N. C. 8. C). 14 8. B., 923. 

Where the policy promised a certain sum for the loss of both eyes 
and the applicant was a one-eyed man. that fact bcin^ known to the 
company's agent, it was held, that the insured was entitled to recover 
for the loss of both eyes. (Bawden v. London, Edinburgh, and Glas- 
gow Ins. Co., 11 Queen's Bench Division, Law Reports, 534. 

Construction of Contract. — Insured was a "capitalist by occupa- 
tion" and the policy covered ''bodily injuries causing total disable- 
ment from transacting every kind of business pertaining to his occu- 
pation above stated." Held, that total disablement from transacting 
any business came within the terms of the policy.* 

Duration of Risk. — A policy insuring a person against accident 
** for twelve calendar months from Nov. 24, 1^7," will include an ac- 
, cident happening Nov. 24, 1888.* 

External, Violent, and Accidental Means. — A policy insuring against 
death and other injuries resulting from "external, violent, and acci- 
dental means," covers death resulting from asphyxia consequent upon 
descending into a well to repair a puAip;* death by stumbling or fall- 
ing against a locomotive,^ and death from an overdose of laudanum 
taken by mistake.* 

InsuraTice of Railroad Employes. — Where the company insured 
employes of a railroad against accidents while in the discharge of 
duty and in the service of the railroad. Held, that an employe who, 
fifteen minutes after having quit work for the day and while going 
home from work, was killed by the cars while crossing the tracks, 
was discharging his duty and in the service of the company within the 
meaning of the policy.* 

Etceptions of Policy. —The fact that a policy insures a person with 
reference to a particular employment and provides that the insurer 
shall be exempt from liability for injuries resulting from a violation of 
the rules of such employment, does not impose on the insurer the duty 
of informing the assured as to the existence of such rules, but the as- 
sured is bound to inform himself.'^ 

Under a policy which exempts the company from liability in case 
of death caused by inhaling gas, recovery cannot be had in case of 
death caused by the inhalation of illuminating gas, where it is uncer- 
tain whether death was the result of an accident or of suicide.^ 



» Bean r. Travolore Inn. Co., W Oal.. 581. 

' South StaflFimlHhIre Tramways v. Sickness & Ace. Awnr. Afisn., 12 B., 40S. 

» Pickett f). Pec. Mut. Life Ins. Co., 144 Pa. St. 7^, 28 W. N. C, 453. 

* Equitable Ace. Ini*. Co. r. OHbom (Ala.), 9 So., 8C9. 

* Mut. Ace. Akku. r. Tuffglo, 39 III. App., 609. 

* Kinney r. Halt. & O. Kmployt»«' Relief Ambh., 36 W. Va., 385. 
T Standard Life A Ace. Inp. Co. r. Joneet (Ala.), 10 So., 630. 

» Richardson v. Travelers lus. Co. (Cir. Ct.), 46 F., 843. 



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Legal Decisions in 1892. 148 

JFHghiing, — If both parties engage willingly in a personal encounter 
it is a fight, and death resulting therefrom is not covered by a policy 
which excepts from the risk death or injury caused by fighting, and it 
makes no difference in such a case whether the slayer was sane or in- 
sane.* 

Ii\furie$ Occurring vohile Vidating Law.— A person who walks from 
one town to another on Sunday for the purpose of hunting, violates a 
law of Vermont, and an injury received while returning home is not 
covered by an accident insurance policy, exempting the company 
from liability where a violation of law is the act, cause, or condition, 
wholly or partly, producing the injury.*® 

IrUoxicaiion. — A provision in an accident policy exempting the in- 
surer from liability for any injury which might happen to the assured 
while intoxicated, is sufficient, whether the intoxication contributed to 
the injury or not." 

Notice of AceidenU — A condition of a policy requiring immediate 
notice of the accident, is satisfied by notice given with due diligence 
in view of all the circumstances; the question of due diligence being 
for the jury." 

Liability for Death Caused by ZHseoM.— Where the policy insured 
against death by external, violent, or accidental means, and excepted 
cases in which there was no visible sign of bodilj[ injury, or where 
death occurred in consequence of disease, or in which the injury was 
not the proximate cause, such a provision does not exempt the insurer 
from liability where death resulted from peritonitis occasioned bjr 
a fall; and this even though the insured had previously had peri- 
tonitis. »» 

In an action on an accident policy it was shown that deceased had 
a fall of the effects of which he complained for several days, and 
then fell sick and died. His physicians testified that he died of 
typhoid fever and that this disease was never produced by a bruise. 
An experienced nurse testified that he did not have typhoid fever. 
Held, that the evidence was sufficient to support a verdict that the 
death was the result of the accident.*^ 

Where death resulted from blood poisoning occasioned by the in- 
oculation of some poisonous substance into a wound, at or soon after 
the time the wound was made. Held, that where the inoculation oc- 
curred at the time the wound was made, and was a part of the acci- 
dent, such accident was the proximate cause of death, though blood 
poisoning ensued.*^ 

Heeovery, — One cannot recover under an accident insurance policy 
for the loss of a foot, where by reason of an injury to his back, he is 
deprived of the use of his leg, except when wearing an artificial sup- 
port for his body." 

• Qreeham v. Equitable Life & Ace. Ins. Co., 87 Ga., 497. 
»" Duran v. Standard Life and Ace. Ins. Co., 63 Vt., 487. 
" Standard Life and Ace. Ine. Co. v. Jone« (Ala.), 10 So., 580. 
" ManufactnnTB' Ace. Indemnity Co. v. Fletcher, 6 Ohio Cir. Ct. R., 688. 
»■ Freeman v. Mercantile Mut. Ace. Ahwi. (Maxn.), 80 N. E., 1013. 
" Standanl Life and Ace. Inn. Co. v. Thomas (Ky.), 17 S. W., 275. 
>» Martin ». Equitable Ace. Aeen., 61 Hun., 467. 

»• Stevcr r. Peoples' Mut. Ace. Ins. Co., 150 Pa. St., 132. ^ j 

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144 Lboal Dbcuionb in 1882. 

Where the insurance under an accident policy is a sum certain, 
provided the assured *'recoyerno more than the money value of his 
time," the indemnity covers all loss hy injury insured against includ- 
ing the value of his time outside at his regular employment." 

Where the policy recites that plaintiff is by occupation " a local 
fireman, under classification engineers," a provision that he should 
have $10 a week for thirty weeks continuous and total loss "of such 
business time " as might result from such injuries, refers only to his 
occupation as fireman.*^ 

Time of Death, — Where an accident policy provided for payment 
of death claims only when death occurred within ninety days after the 
accident, and where the wife of the insured had written to the com- 
pany before his death claiming indemnity for loss of time and stating 
that the accident occurred a week before it actually occurred, this 
letter did not conclude the beneficiary from showing the actual time 
of the accident. ^* 

Vimble Signs of Bodily Injury, — In an action on an accident policy, 
an instruction that there must have been visible signs of injury effected 
through external, violent, or accidental means, and that such injury 
must alone have occasioned death, was held to be sufficiently favor- 
able to the insurer.*^ 

Where plaintiff's injury was a strain and was not externally visible 
until a short time after the accident, he was entitled to recover.'* 

Voluntary Exposure to Danger. — Where one who is running rap- 
idly towards an approaching train for the purpose of getting the mail 
bags, stumbles and falls against the engine, the injury is clearly not 
'' intentional " within the exception of an insurance policy, nor can it 
be construed as " walking or being on a railroad track," or of " volun- 
tary exposure to unnecessary danger," within the meaning of other 
exceptions.^' 

Waiver. — Where a policy required notice of death to be given 
within five days, a failure so to do would work a forfeiture unless de- 
fendant waived notice. Where there was evidence of such waiver, 
upon which the defendant was entitled to go to the jury, had a request 
been made, and defendant failed to make such request, there is no 
ground to complain of the court's decision."* 

A clause in an accident policy avoiding it if death result from 
suicide (sane or insane) includes self-destruction irrespective of the as- 
sured's mental condition at the time of the act, and the court will not 
attempt to measure the degrees of insanity.'^ 



»' Bean v. Travelers Ins. Co., 94 Cal., 581. 

> 9 Pennington v. Pacific Miit. Life Ins. Co, (Towa), 52 N. W., 482. 

»» Americiin Ace. Ins. Co. r. Norment (Tenn.), 18 8. W., 385. 

«o Freeman r. Mercantile Mut. Ace. Asnn. (Mans.), 80 N. E., 1013. 

'^ Pennington v. Pacific Mut. Life Iiib. Co., auiti'at 18. 

'* Equitable Ace. Inn. Co. v. Oeborii, (tupra^ 4. 

«» Martin v. Equitable Ace. Annn., 16 N. Y. Supplement, 279. 

a* Billings v. Ace. Ine». Co. of North America (Vt. S. C), 24 A., 666. 

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Legal Decisions nr 1892. 145 

AS8B88MBNT OB NATURAL PBEMIX7M LIFE AND FBATBBNAL 
BENEFIT INSUEANCB. 

Ammdmeni and ChngtrucUan of By-LatM,^ A by-law of a mutual 
benefit society adopted after the issue of a certificate does not modify 
the contract of insurance without the express consent of the member.* 

Where the constitution provides that a majority of the members 
may amend the by-laws at the annual meeting, on notice, the presence 
of a member by proxy, in the absence of proof of notice, is not 
sufiScient to make a change in the by-laws binding upon such mem- 
ber.' 

An amendment to the by-laws requiring that each member should 
designate the beneficiary of his policy, who should in each instance 
*' be a member of his family, a blood relation or a person dependent 
upon him," was held not to be retroactive and did not require the sub- 
stitution of such relative for the person previously designated as 
beneficiary.' 

AMessments. An association has no x>ower, in the absence of a pro- 
vision therefor in its policies or rules, to charge a member with an 
assessment made or for losses arising before he became & member.^ 

An assessment may be ordered by a receiver, by authority of the 
court, in proceedings for the involuntary dissolution of an association, 
and the non-payment of such assessment will operate as a forfeiture.' 

Where the rules require payment of assessments within 80 days 
after date of notice, on penalty of forfeiture, and plaintiff through no 
fault of his did not receive such notice until after the expiration of 80 
days, it was held that the notice did not work a forfeiture.' 

A particular method of notice of assessments having been agreed 
upon and made a part of the charter, is binding on all members.'' 

Where the laws of an association require that assessments shall be 
paid within a certain number of days from the date of notice thereof, 
the date will be taken to mean the date it is delivered or received, and 
not the date written in the notice or the day it is mailed.^ 

Before a policy can be forfeited the company must show that the 
member had actual notice, even where the by-laws provided that notice 
should be given by publication in one or more newspapers.' 

The certificate is not forfeited for non-payment of assessments 
unless the notice stated, as required by law, that unless it was paid 
the certificate would be forfeited.'** 

Where noMce has been sent by mail in accordance with the rules 
of the association, it will be presumed, in the absence of proof to the 
contrary, that it has been received.'* 

> Grand Lodge A. O. U. W. v. Satcr, U Mo. App., 445. 

» Metropolitan Safety Fund Ace. Ase'n v. Winaover, 87 III. App., 170. 

» WlBt. V. Grand LoiSgc A. O. U. W. (Or.). 29 P., 610. 

* ETarte r. U. 8. Mut. Ace. Asm.. 16 N. Y. S., 27. 

^ Inn Equitable Reaerve Fund Life Awn., 16 N. Y. S., 80. 

« Merriman v. Keystone Mut. Ben. AsHn., 18 N. Y. 8., :«5. 

"* MaginnU Estate v. New Orleans Cotton Exchange, 43 La. Ann., 1136. 

» Grand Lodge HI., Ind. Order of Mutual Aid v. Besterfleld, 37 HI. App., 522. 

• Schmidt v. German Mut. Inn. Co. of Indiana, 30 N. E., 039. 
!• Elmer 0. Mut. Ben. Life Assn. of America, 19 N. Y. 8., 289. 
»» Benedict p. Grand Lodge A. O. U. W., 51 N. W., 371. 



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146 Lboal DBomoNB m 1892. 

The appropriation of a pa3riDent of an overdue assessment by an 
association to a later assessment is a waiver of a forfeiture.'* 

Where an association makes an assessment on a member, it waives 
the right to claim a forfeiture for failure to pay an assessment previ- 
ously due." 

Conditions and Benefleiarie$, — While the certificate of membership 
contains the contract of insurance, yet the same is governed by the 
charter and by-laws of the association, and the statutes of the 8tate of 
itsdomicil.'^ 

Where the by-laws provided that a change in beneficiariea could 
only be made by authorizing such change on the back of the certificate, 
attested by an officer of the society, one of the members just before 
his death, having lost his certificate, executed a will bequeathing the 
benefit money to the person intended to be substituted. It was held 
that a court of equity should recognize the will as a valid designation 
of a new beneficiary. '^ 

Where the original beneficiary died before the member, it was corn- 
petent for him, in the absence of any express rule to the contrary, to 
make a will bequeathing the benefit money.** 

The beneficiary has no vested right in the certificate before 
the death of the member, and the right of the member to change the 
beneficiary is not affected by the fact that the beneficiary has paid the 
assessments, and has the certificate in his possession." 

Where the constitution provides that the insurance shall be paid to 
the heirs of the member, should the beneficiary named in the policy 
die before the member, the instantaneous death of the member and 
the beneficiary renders the latter as incapable of taking the benefit as 
if he had died first, and the member's heirs are entitled thereto.'^ 

Where the rules of an association provide that change of benefici- 
aries shall be made by members only, and shall be confined to the 
widow, orphans, heirs, and devisees of the member, an assignment of 
a certificate made by the beneficiary in the lifetime of the assured is 
invalid.** 

Where the by-laws provide that the beneficiaries shall be related to 
the insured it has been held the phrase " related to.'' includes the wife 
of a member's grand nephew.*^ Also that a son is a relative of his 
step-father, after his own mother's death.** 

Where an association in its certificate agrees to pay the benefit 
money to the devisees of the member, or in the event of their prior 
death, to the legal heirs or devisees of the certificate holder, the asso- 
ciation is obligated, in case the member dies intestate, to pay the 
money to the heirs of the member.** 

i« Mot. Safety Fund Ace. Ahph. v. Windover, 37 111. App., 170. 
>■ Elmer r. Mnt. Ben. Life Asem. of America, tntpra^ 10. 
»* In re Glo})e Mot. Ben. Assn., 17 N. Y. 8., 852. 
i» Grand I^)dpe A. O. U. W. v. Noll, 61 N. W., 2fl8. 
>• Masonic Ben. Assn. of Central 111. v. Bnnch, 19 S. W., 25. 

»7 MaFonic Ben. A^sn. of Central 111. v. Bunch, 19 S. W. and Mix tJ. Donovan. 18 
N.Y. S.,4iJ6. 

»» Paden r. Briscoe, 81 Tex., 563. 

»» NorthwcKtern Mn.'ionic Aid Awn. v. Marshall, 10 Pa. Co Ct. R., 2Tt). 



2» Bonnet t. Van Kipiwr. 47 N. J. Ko.. 563. 

a" Heincoke r. Grand Lodge A. O. U. W. of Iowa, 51 N. W., a 

«2 Covenant Mat. Ben. Aean. v. Sears, 89 N. E., 480. 



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Legal Dbcibions in 1892. 147 

A member of a benefit Bociety whose certificate designated his 
daughter as a beneficiary, added the words "and my wife/' immedi- 
ately after his second marriage. The laws of the society provided that 
beneficiaries should be changed by surrendering the certificate, where- 
upon the society should issue a new certificate, payable to the person 
or persons designated. Held, that the designation of the wife was 
invalid.** 

Where the certificate Is void if the beneficiary is not the natural 
heir of a member, but the society continues to collect assessments with 
full knowledge that the beneficiary is not such natural heir, it is a 
waiver of the condition and the certificate is valid." 

Where a company consents to an assignment of the policy, it is 
estopped from saying the policy is void under a by-law providing that 
the beneficiary must be a husband, wife, family, heirs, legal assignee 
or creditor of the assured.*^ 

Wliere the rules provide that the beneficiary may be changed at 
the will of the assured, the fact that the beneficiary has no pecuniarjir in- 
terest in the life insured does not render the contract void as against 
public policy.** 

The ri^ht of the insured, reserved in a policy, to change the bene- 
ficiary, will not be affected by the fact that such reservation is not 
contained in the application.*'^ 

Where a member of a benefit society stops paying his dues, sep- 
arates from his family and is divorced, and his wife pays the dues on 
behalf of their children, the beneficiaries, he cannot afterwards change 
the beneficiaries, and the children, at his death, are entitled to the 
fund.*8 

Ei^nUiion, — An action cannot be brought to recover damages for 
illegal expulsion from a benefit society, since mandamus lies to compel 
reinstatement, by waiving which remedy and suing for damages, the 
expulsion is recognized as legal, and because the elements of damage 
are too uncertain, and because such societies ordinarily have no funds 
except such as are held in trust for their members.^* 

MiBmberthip.— Deceased applied for membership in the Knights of 
Honor. His proposition fee was paid. He was recommended by the 
medical examiner, and he was elected, but died two diws later. The 
rules required that an applicant should present himself for initiation 
within a certain time or forfeit his election, and the application con> 
tained an agreement that the payment of the proposition fee should 
not constitute membership unless the applicant were elected and initi- 
ated. Held, that deceased was not a member of the lodge. '^ 

Hypothecation of a membership in the New York Cotton Ex- 
change, with power to transfer the same, which is not exercised, is 
not such a sale of membership as will relieve the Exchange from 
liability on the member's death. "' 

" ThomaB v. Thomaa, 131 N. Y., 205. 

3« Lindeey v. WeHtcrn Mut. Aid Society (Iowa), 60 N. W., 29. 

" Smith V. Peoples' Mut. Ben. Soc., 19 N. Y. 8., 488. 

»• Ingereoll ». Knigble of Golden Kule (Cir. Ct.), 47 Fed., 272. 

" Hopkins v. Hopkina (Ky.), 17 S. W., 864. 

2" Tudor v. Tudor (Oliio Com. PI.). 26 Weekly Law Bui., 368. 

«• Lavalle v. Sociele 8t. Jean Bapliste de Woonsocket (R. I.), 24 A., 467. 

*» Matkhi V. Sap. Lodse Knighte of Honor (Tex. Sup.), 82 Tex., 301. 

•» piUlngham v. N. YT Cotton Exchange (Chr. Ct.), 49 Fed., 719, GoOqIc 



148 Lboal DsciaiONs ur 1892. 

Where a member of a benefit association continues to pay his 
assessments for more than three years after notice that the classUlcatton 
of his membership has been changed, he is deemed to have assented to 
the change, and cannot rescind the contract.'* 

Where a member pays assessments made by the grand lodge under 
orders of the supreme lodge, he waives any right he may have had to 
object to the changed basis of assessment.** 

A person becoming a member of a mutual benefit society will be 
bound by its laws and cannot resort to the courts for relief against 
acts done in pursuance of its regulations, unless his property or con- 
tract rights are thereby invaded or disregarded.*^ 

Payment of Clainu. — Where the claim was not satisfied by the pay- 
ment of the death fund on hand, it was held that the assessments made 
to meet it should be appropriated to the full satisfaction thereof.*^ 

The obligation of a mutual benefit compan;^ to levy an assessment 
on a member's death, may be enforced by a suit in equity for specific 
performance.** 

On the involuntary dissolution of a benefit association, a death 
claim, accruing after the dissolution, is not entitled to participate in 
the distribution of the death fund among claims which accrued prior 
to the dissolution.*^ And where a death claim accrued and assess- 
ments were levied prior to the dissolution, but payment of the claim 
was unreasonably delayed, it was held that such amount must be used 
by the receiver m payment of the claim for which it was levied.*^ 
The reserve fund is liable for the payment of death claims, after dis- 
solution, where the death fund is insufiQcient.'^ 

After suit had been begun to dissolve company, an assessment was 
ordered by the court. Held, that those who paid such assessment 
were entitled to be repaid in full out of the reserve fund, and that the 
balance of the reserve fund should be divided pro rata among those 
members who had paid all assessments up to the commencement of the 
suit. The time at which to determine which members were to diare 
in the reserve fund and which in the death fund, is the date of the 
commencement of the suit and not the date of the decree of dissolu- 
tion.** 

Pfftoer to inaure Infani%. — Under the laws of New York, providing 
for the incorporation of cooperative insurance associations, the funda- 
mental principle of their creation is a mutual contract obligation ; and 
hence they have no power to insure infants, for infants cannot eon- 
tract.** 

Superman and Reinstatement. — Where a member dies while under 
suspension for non-payment of dues or assessments, the beneficiary 
cannot recover unless the association is eslop|>cd by its own acts or 
has waived the effects of the suspension.'*^ 

" Margut c. IJiiited Brethren Mat. Aid Soc. (Pa. Sup.), 88 A., 896. 

»» Steuve V. Grand Lodge A. O. U. W., 5 Ohio Cir. Cx, 471. 

'< Sleuve V. Grand Lodge, supra^ 33. 

»» Wadeworth v. JcwellcrB o. Tradeemen'B Co. of N. Y., 182 N. Y.,540. 

«« Covenant Mut. Ben. Am^n. v. Sears, mpra^ 28. 

»' In re Equitable Reserve P\ind Life Assn., 61 Hun., 299. 

*^ Jnre Equitable Iteserve Fund, 181 N. Y., 3W. 

»» In re Globe Mut. Ben. Asan., 63 Hun., a63. 

40 Maginniu Est. v. Mew Orleans Cotton Exchange, 43 La. Ajm^llSS. 

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LbGAL DlECISIONS IN 189^. 149 

Where the by-laws required that members should pay assessments 
before the first day of the following month after receiving notice, and 
that on failure so to do the member should be suspended, and that 
notice of such suspension should be mailed to him. Held, that where 
the officer failed to mail such notice and the association made subse- 
quent assessments on him and treated him as a member, be could not 
be considered suspended at the time of his death. '^^ 

Where the rules provide that a suspended member may be re- 
instated by payment of assessments on passing a medical examination, 
showing him to be in good health, a tender of dues by a person on his 
sick bed on the day of his death is ineffectual.^* 

Where a member was suspended at the time of his death, he can- 
not be reinstated by the payment of the sum due the company, 
though the period has not expired in which he could be reinstated, if 
alive.^ 

Where a member was reinstated and a receipt given for dues 
which states that the member was re-instated on condition that she 
was in good health ** free from all diseases, infirmities, or weaknesses," 
it appeared that her. health had been affected about a year before Ihe 
forfeiture b^ the decline of old age, but that she was subject to no 
disease. Held, that the evidence failed to show that the condition of 
the receipt was not fulfilled.** 

A condition precedent to re instatement was that the applicant 
should furnish a new and " satisfactory" application and medical ex- 
amination. Hdd, that the satisfactoriness of the application was to 
be determined by the medical examiner of the association.*^ 

The receipt of dues from a suspended member, and a letter from 
the association informing him that the association had reinstated bim 
provided that he was in his usual good health when the dues were 
paid, does not amount to waiver when the insured was fatally ill at 
the time of payment.** 

Mi9ceUameau$.—»Y(\ietk the insured suppresses in his application 
the fact of existence of other insurance on his life, in violation of a 
condition of the policy, it will be conclusively presumed that the sup- 
pression was intentional.*^ 

A policy may be assigned on the Company's refusal to pay, or 
furnish blanks with which to make proofs of loss, nothing in the 
policy prohibiting such assignment. Where the Union refused to 
furnish blanks on the ground that the policy had become void for non- 
payment of a premium. Held, a waiver of proof of loss.*^ 

Where the by-laws placed no limitation on the class of persons to 
whom certificates should be payable. Held, that the beneficiary need 
not have an insurable interest in the life of the assured.** 



«> Modem Woodmen of America v. Jameson (Kan.), 80 P., 460. 

«• Sherret v. Boval Clan of Order of Scottish Clans, 37 111. App., 44( 

** Modem Woodmen of America v. Jameson, supra^ 41. 

«« Griesa v. Mass. Benefit Assn., 188 N. Y., 610. 

** Qraveson v. Cincinnati Life Aasn., 26 Weekly Law Bal., 188. 

*• Oarbnt v. CtUzens Life Association, 61 N. W., 148. 

*"> Stndwell v. Mnt. Benefit Life Assn. of America, 19 N. Y. S., 709. 

«• Meagher v. Ufe Unlon,^ N. Y. S., %47. 

♦• Sabfi V. Phhiney (N. Y. C. A.), 81 N. E., 1087. 



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150 Lboal DscmoNd in 189d. 

The fact that, at the time of the death of the member, the societj 
was indebted to the assured for a salary in a greater amount than that 
due for assessments, did not require the society to apply the debt to 
the assessment.^*' 

There must be actual notice of death of a member before certificates 
can be forfeited for nonpayment of assessments.'^ 

In the absence of any rule to the contrary, payment* of overdue 
assessments may be male by the beneficiary." 

Where an insurance company does nothing to induce delay in 
bringing suit, the statute of limitations begins to run in its favor from 
the time it notifies a claimant that his claim is rejected.^' 

Where a company issues policies on a plan of quarterly payments 
of dues and assessments in advance, it may waive such conditions and 
accept the note of assured in payment of a year's dues and assess- 
ments." 

The right of the legal representatives of assured to recover the pro- 
ceeds of a speculative life policy from a person who has received the 
money, ceases where an executor or administrator has received and in 
good faith distributed if 

FIBB INSURANCE. 

A fire insurance policy is a contract to indemnify the insured for 
loss or damage to his property occasioned by fire during a specified 
period, and may be of two kinds, open or valued. In an open policy 
no sum is absolutely fixed to be paid on any loss, but the amount re- 
coverable, not exceeding the face of the policy, is determined by the 
actual loss; while in a valued policy the sum payable on total loss, in 
the absence of fraud, is named in the contract. " Floating" or ** shift- 
ing " risks are open policies covering all goods or stock on hand at the 
time of a loss, and are much used in mercantile lines, since they allow 
constant sales and purchases. 

Generally a fire policy covers all damages and reasonable charges 
resulting from a loss by fire, including cost of removing articles from 
location, loss by theft during cooflagration, etc If a house be pulled 
down to prevent the spread o( fire, the insurance is held to cover. 

Agents. — When an agent of an insurance company, given author- 
ity by the owner of property to write a policy on it and keep it in- 
sured, has no authority from the owner to cancel the policy, the 
insurer cannot be excused from liability by the agent's unauthorized 
cancellation.* 

Payment of a premium to one who had made out an application for 
insurance in defendant company, but who was known by plaintiff not 
to have the power to bind the company, does not render it liable for 
the loss, where the risk had previously been rejected and the premium 
had never been remitted to it by the person writing the application.' 

«• Lefflngwell v. Grand Lodge A. O. U. W. of Iowa, 63 N. W., »i3. 
•1 Coartney v. U. S. Masonic Benefit Assn. (Iowa S. C), 53 N. W., 289. 
•9 O'Orady v. Knights of ColumbuB (Conn. S. C). ^ A., HI. 
»> Railway Condactors Mut. Aid Assn. v. Loomls (111.), 8S N. B., 4S4. 
•« Stepp V. Nat. Life and Maturity Assn. of Waslilngton, 16 S. E., 84. 
»B Blake v. Metzgar (Pa. S. C), S4 A., 766. 
1 McCartner v. State Ins. Co., 45 Mo. App., 878. 

« More r. «. T. Bowery Fire Ins. Co., IW N. Y., 687, /^ ^ ^ ^T ^ 

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Legal DscIbions in 1892. 151 

A mistake or untrue statement of material facts will not void a 
policy when the comp my or its agent knew the real facts, especially 
where the agent fills up the application, and, knowing the real facts, 
misstates them, either purposely or by mistake.* 

Where the agent was acting as an insurance broker at the time the 
application was made and had not been employed by the company to 
procure the policy, he was the agent of the assured, and only the 
agent of the company for the purpose of delivering the policy and col- 
lecting the premium, and notice to him would not be notice to the 
company.* 

The agent of an insurance eompan^ has power to bind his principal 
orally, notwithstanding a provision m the policy that the company 
shall only be bound by endorsements on the policy.^ 

A person procuring insurance in behalf of a certain company by 
sending to it an application, upon which a policy is issued, thereby 
becomes the agent of the company, and it will be bound by the con- 
tract which he made with the applicant.* 

A person authorized to accept risks, to agree upon and settle the 
terms of insurance and to carry them into effect by issuing and renew- 
ing policies, is a general agent of the company.'' 

Where an agent has rendered himself liable to his company for 
failure to cancel a policy, before a loss occurred, and the company on 
reasonable grounds defends the suit, after notice to the agent, he is 
liable for the costs of the suit, but not for counsel fees nor for the costs 
of an unnecessary appeal.^ 

Defendant, an insurance broker, procured insurance for plaintiffs 
through another broker, in a company which did not exist. Held, that 
a loss having occurred, defendant was liable for the insurance.' 

Arbitration. — A provision in a policy that the amount of loss shall 
be submitted to arbitrators at the request of either party, who shall 
compute the damages, but shall not decide the liability of the com- 
pany, is valid and binding J<^ 

The pendency of negotiations for a compromise does not excuse a 
party from compliance with a demand for arbitration." 

Arbitration is fully discussed in the case of Adams v. New York 
Bowery Fire Ins. Co., 61 North Western Reports, 1140, and in Han- 
over Pipe Ins. Co. t>. Lewis, 28 Pla., 209. 

The submission to arbitration does not amount to an election to pay 
the loss and a waiver of the right given by the policy to rebuild or re- 
pair." 

Where the adjuster of a company fraudulently and falsely repre- 
sents that the arbitrator nominated by the company is a disinterested 

* German Ins. Co. t>. Miller, 89 111. App., 688. Phcenix Ine. Co. r. Stocks, 40 111. 
App., 64. 

* Bast Texas Fire Ins. Co. v. Brown, 82 Tex., 681. 

*8t. Paul Fire and Marine Ins. Co. v. Parsons, 47 Minn., 862. 
•Rockford Ins. Co. v. Boivum, 40111. App., 129. 

f SoQth Bend Toy Mfg. Co. v. Dakota Fire and M. Ins. Co., 62 K. W., 866. 
8 Son Fire Office v. Ermentrout, 11 Pa. Co. Ct. R., 21. 

* Vann v. Downing, 10 Pa. Co. Ct R., 60. 

!• Hanover Fire Ins. Co. v, Lewis, 28 Fla., 209. 

i> Power Dry Gooda Co. v. Imperial Fire Ins. Co. of London, 61 N. W., 123. 

)• iBtna bus. Co. v. Piatt, 40 Dl. App., 191. 



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15d Legal l)sctBioHfl ih Iddd. 

person, the award made will be set aside and the Insared allowed to re- 
cover his actual loss.*' 

A policy provided that no suit should be brought until after arbi- 
tration to settle the amount of loss. The insurer charged the inaured 
with having caused the fire and refused to pay for that reason. Held, 
that the insured mi^ht sue without demanding arbitration.*^ 

Where the loss is made pavable to the mortgagee of the property 
insured and the policy provides for arbitration as to the amount of 
loss, tlic mortgagee is not bound by the result of an arbitration be- 
tween the insured and the company.*' 

Application.— Decisions on the effect of statements and representa- 
tions of the assured in his application have been collected in 10 Lawy. 
Rep. Ann., 666. 

Where the insured was unable to read and the application was filled 
out by the company's agent, some of the answers being untrue, and 
where there was a conflict of testimony as to the answers having been 
read to the assured before the application was signed, the company 
was held to be liable on the policy.'* 

Where a firm made an application for fire insurance and answered 
"no" to the question, "Has the proponent ever been a claimant 
against a fire insurance company?" it was held that claims made by 
one of the members of the firm before he became a partner were not 
covered by the question, and that the answer was not untrue." 

Where defendants issued the policies on verbal applications and 
asked no questions except as to the amount of insurance, the pro^rty 
to be insured and its location, and there were no misrepresentations, 
they cannot escape liability on the ground that the policies provided 
that failure to make known any facts material to the risk would render 
the policy void. '* 

In the absence of fraud, deceit, or misrepresentation, the assured 
cannot be protected by claims of ignorance of the contents of the ap- 
plication.** 

Where the applicant represented that he owned the premises in fee 
his recovery will not be defeated by proof that he has no written evi- 
dence of title.*® 

A company will not be permitted to avoid a policy on the ground 
of overvaluation of the property, where its agents saw the same at the 
time the application was filled out and assented to the figures.** 

Notwithstanding the application falsely states matter material to the 
risk, if the insurer or his agent had knowledge of the truth at the time 
when the contract was entered into, the contract will not be thereby 
avoided.** 



»» BradHhaw v. AKricultnral Ina. Co., 69 Hun., 619. 
>« PcDcU V. Home Ino. Co.. 8 Waeb. St., 4ti6. 

1* Bergman v. Commercial Union Ine. Co. (Ky.), 18 S. W., 12S. Same r. Phcenix 
Ina. Co., Id. 

>• Dwelling House Ins. Co. t>. Wetkel (Neb.), 60 N. W., 949. 

17 Davies v. National Ins. Co. (1891), App. Caa., 485. 

1" Pelzer Mfg. Co. v. Sun Fire Office of London (S. C), 16 S. B., 669. 

1* Hemdon v. Triple Alliance, 45 Mo. App.« 426. 

>o Capital City Ina. Co. v. Caldwell (Ala.), 10 So., 866. 

" German Ins. Co. v. Miller, 89 111. App., 683. 

** Hemdon v. Triple Alliance, «upra, 19. 

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Leqal Dbci8I0N6 in 1892. 158 

Where an insurance policy on lumber contains a warranty that a 
continuous clear space of 150 feet should be maintained between the 
lumber and the saw mill, and such warranty is untrue when made, and 
when the property is destroyed by fire communicated from the saw 
mill within the space provided for, no risk ever attached on the policy, 
and in the absence of intentional fraud by the insured, he is entitled to 
the return of the premiums paid.^' 

Assignment of PcHicy.^The assignee of an insurance policy is 
affected with the knowledge her agent, effecting the assignment, may 
have of a previous forfeiture, and cannot claim a waiver of the for- 
feiture by the insurer's consent to the assignment. ^^ 

Where a petition in bankruptcy specifically mentions a fire insur- 
ance policy as an asset and all the bankrupt's property is assigned to a 
trustee, unless the policy is delivered to the trustee or actually as- 
signed, it doesn't amount to an assignment that will avoid the policy 
under a condition therein that it shall be void if assigned without the 
company's consent.** 

A pre-existing debt is a sufficient consideration for an assignment of 
insurance policies after loss of the property insured.** 

Where the loss is made payable to the mortgagee of the property 
insured, and the policy provides for fixing the amount of loss by ar- 
bitration, the mortgagee is not bound by the result of an arbitration 
between the insured and the company.*' 

Where it is stipulated in a fire policy that it is not assignable for 
the purposes of collateral security, but that in case of actual sale it 
may be assi^ed with the consent 6f the company, an assignment to 
secure debt is void, and the assignee cannot recover on it, even though 
the company assented to the assignment, supposing it to be absolute.*^ 

A transfer of a policy with the assent of the company, as security 
for .debt, "as its interest may appear," is valid and the lien created 
thereby is superior to that by garnishment of a subsequent creditor.*' 

Where the consent of the company to the assignment of the policy 
was obtained by fraud and misrepresentation of material facts, it was 
held that it was such a fraud on titie company as to avoid the policy. *° 

GancellcUion and Rescission. — Where the insured surrenders policy 
to defendant's agent, understanding that it might be canceled, and to 
enable the agent to re-insure in case of cancellation, such agent does 
not become plaintiff*s agent and notice to him of cancellation is not 
sufficient. ■* 

The fact that a company instructed its agent to cancel a policy does 
not affect the insured without notice.*^ 

It is not sufficient for a company to notify a policy-holder that it 

*s James 9. Insarance Co. of North America, 90 Tenn., 604. 

•♦Fire Amu. of PhU. v. Plournoy (Tex. Sap.), 19 S. W., 798. 

** Appleton Iron Co. v. British Am. ABsarancc Co., 46 Wle., 38. 

•• OIoTcr V. Welli (Ul. 8vmX 29 N. E., 680. 

« Bergman p. Commercial Union Aesur. Co. (Ky.), 18 S. W., 122. 

'•Lynde v. Newark Fire [na. Co., 189 Mass., 67. 

••Glover v. Wells (HI. Snp.), 29 N. E.,680. 

•• Home Ins. Co. v. Allen (Ky.), 19 S. W., 743. 

•» Mallory v. Ohio Farmer's Ine. Co. (Mich.), 51 N. W., lfl«. 

•• Watertown Fire Ins. Co. v. Uiist (111. 8up.), 80 N. E., 772. 

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164 Legal DKdtsioKs in 18dd. 

had decided to go out of business, and would no longer be liable on 
the policy, where it returned to him no part of the premium.** 

Notice to insured that a premium note was due, and that unleas 
it was paid in 30 days the policy would be canceled, was sufficient to 
suspend the pc^icy.** 

The forfeiture of its charter by an insurance company for its 
failure to comply with the law did not work a cancellation of iCa 
policies outstanding at the time of the passage of the law, so as to re- 
lieve it from liability thereon.** ' 

Where a policy is sent to the company's agent by the insured with 
the request that it be canceled, in accordance with the law of New 
York, this operates as a cancellation without any action on the part 
of the insurer.** 

The surrender by mailing a policy with the request that it be can- 
celed is not complete until the letter reaches the company or its 
agent. ■• 

A statute providine that a company shall cancel a policy at the re- 
quest of the insured and return the unearned premium does not 
require the return of such premium when the policy has been de- 
termined by the insolvency of the company.*' 

'Where an agent of an insurance company given authority bv the 
owner of property to write up a policy on it and keep it insured has 
no authority from the owner to cancel the policy, the insurer cannot 
be excused from liabilitj^by his unauthorized cancellation.** 

CkmdiUons, — The fact that the insured was ignorant of the condi- 
tions printed in a policy of the standard form, will not defeat the for- 
feiture of the policy in case the conditions are not complied with.** 

Where it was provided in the policy that if the note given for the 
premium should not be paid within fifteen days after maturity and de- 
mand, the policy would be void, the non-payment of such note did 
not, ipso fcLcto, render the policy void, but only voidable at the option 
of the defendant. *> 

Notwithstanding a clause in a policy that the company shall not be 
liable until the actual payment of the premium, if the policy is 
actually delivered without payment, the presumption of a waiver of 
such clause and the giving of short credit for the premium will ariae.^' 

Where a policy provided that the company should not be liable for 
any loss occurring while a premium note was overdue and unpaid, and 
where a note was overdue and a tender was made before the loss, the 
fact that it was not made until after maturity is immaterial, since the 
policy did not provide for a forfeiture in that case.** 

Where a policy provided that it should not cover any loss caused 
by means " of an invasion, insurrection, or riot," and where the statute 

•> Manlove v. Commercial Mat. Pire Ins. Co. (Kan.), 87 P., 979. 

** Morrows. Dea Moines Ins. Co. (Iowa), 61 N. W., 8. 

*^ Manlove v. Commercial Mut. Fire Ins. Co., mprOy 88. 

■• Crown Point Iron Co. t>. ^tna Ins. Co., 187 N. Y., 608. 

" Dewey v. Davis (Wis.), 62 N. W., 774. 

•8 McCartney v. State Ins. Co., 46 Mo. App., 878. 

«» Qalnlan v. Providence-Washington Ins. Co., 138 N. Y., 860. 

♦0 Louisville Underwriters v. Pence (Ky.), 19 8. W., 10. 

« Daft V. Drew, 40111. App,, 966. 

♦• Continental Ins. Co. of N. Y. ▼. MUler and. App.), 80 N. K., 718. 

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tiBGAL 1)B0I8I0KB IN 1891^. ' 15^ 

proTided that "if three or more persons shall do an act in a violent 
and tumultuous manner, they shall be deemed guilty of a riot/' it was 
HM, that where five masked men broke into a dwelling-housep com- 
pelled the occupant to vacate, and then burned down the dwelling, 
this constituted a riot.^* 

Where a policy provided that the building should be used as a 
dwelling-house only, and it appeared that it had also been used as a 
saloon, IBM, that this presented a question for the jary.^ 

Where a Dolicy contains no express prohibition of a change in the 
use of a building, the fact that at the time of the loss the buildhig was 
used for a different purpoee than that mentioned in the policy does not 
avoid the policy.^ 

Where there is a conflict between the printed and written clauses of 
a policy, the written part controls.^ 

The use of a building insured as a dwelling-house, for the illegal 
■ale of liquor cannot be said, as matter of law, to increase the risk.^ 

Where the policy forbade the use of open lights on the premises, 
bat permitted necessary repairs, and the evidence showed that the use 
of open lights was indispensable in making such repairs, it was held 
that the use of open lights in repairing was not a breach of the 
poliCT.*' 

Where a tenant moved out of a building insured as a dwelling- 
house, which shortlv afterwards burned down, but in the interval the 
owner was frequently in the house during |he day, and had a servant 
Bleep there at night. Held, that the house was not unoccupied within 
the meaninfl^ of the policy.^ 

A building insured as, and leased for, a store-house, in the process 
of ordinary preparation — not repair,— for such purpose, is not 
" vacant or unoccupied."*' 

Though knowledge of the non-occupancy of a building at the time 
the policy was issued could be imputed as matter of law to the com- 
pany, there was no implied consent to tiie continuance of such condi- 
tion, nor was the company thereby charged with notice of the con- 
tinuance of such non-occupancy, contrary to the express conditions of 
the policy. »• 

Where a landlord leased his premises to a certain person until the 
first of a certain month, and to another person commencing with the 
first of the month, the vacation of the former four days beH>re the ex- 
piration of his lease is not such an abandonment as will vitiate the in- 
surance.'^ 

A court of equity will not hold a policy of insurance void because 
the premises have become vacant, contrary to a condition In the 
policy, where the evidence wholly fails to show that the building 



4t Oermanla FIk Ini. Co. v. Deckard (Ind. App.),S8 N. B., 868. 

«« Martin 9. Capitol Ins. Co. aowa.)« 69 N. W., 684. 

<• RoMell 9. Maanfactaren' and Bnildera' Fire Ins. Co. (Minn.), 58 N. W., 906. 

4« Kartin v. Capitol Ina. Co., tupra, 44. 

4T An Sable Lumber Co. v. Mfr^i Mat. Fire Ins. Co., 80 Mich., 407. 

*• Trader'! Ina. Co. v, Baoe (Dl. Sop,}, 80 N. E., 846. 

*• Rockford Ina. Co. «. Wrigbt, 80 111. App., 674. 

M Bnglaad v. Westcbeater v!re Ins. Co. of N. Y. (Wla.), 61 N. W., 064. 

*> Boe «. DweUine-Hoiue Ina. Co. of Boston (Pa. Sop.), 88 A., 718. 

Digitized by 



Google 



156 Lboal l>BCitiOKg iH 1892. 

would not have been burned precisely as it was if it had been 
occupied." 

Where the company has received notice of the vacancy of the build- 
ing, and the agent assures the policy-holder that '' it is all right; we 
wul look after it," the company cannot avoid payment for breach of 
condition in the policv.*» 

The description of an oil tank's location, if regarded as a warranty, 
can be construed only as a warranty of location at time of insuring, 
and not, in the absence of an express stipulation to that effect, that the 
location will not be changed afterwards.^ 

A voluntary conveyance of insured property is as much breach 
of a condition against alienation as a conveyance for a valuable con- 
sideration.** 

A provision in a policy against sale or transfer of the property will 
not avoid the policy unless the entire interest of the insured is sold; so 
that if the property consists of a stock of goods of a sole trader, his 
taking a partner will not render the policy void."* 

A clause against "any change in the title or interest of the in- 
sured," will not preclude a recovery where one partner sells his 
interest to another.*'' 

Such a provision is violated by making a lease which provides that 
if the lessee pays the lessor a certiedn sum during the term thereof, the 
lessor "doth hereby sell, transfer, and convey,^ to the lessee the title 
to the property.** ^ 

The execution of a deed of the homestead signed bv the husband 
alone, and therefore void under the laws of Kansas, will not work a 
forfeiture of any rights under a fire insurance policy.** 

A levy under execution on a stock of goods merely creates a lien 
thereon, and does not vest in either the officer or the creditor any title 
or interest within a clause of the policy which declares that it shall be 
void if any change takes place in the title or possession of the 
property.*^ 

The issuing of an execution on real property followed by an 
advertisement of sale does not effect a change of title within the 
avoidance clause of a policy.*^ 

Whether a subsequent mortgage on a building containing goods 
which are insured is a breach of a condition of the policy making it 
void, " if the risk be increased by anv means whatever within the con- 
trol of the insured," is a question of fact for the jury.*' 

A chattel mortgage given on insured personal property does not 
avoid a policv which contains a stipulation that any change in the 
title, ownership, or possession of the property shall avoid it.*> 

" Traders* Ins. Co. v. Bace (lU. Sap.), 81 N. E., 893. 
" Rockford Ins. Co. ». Wright, #w»ra, 49. 
** Western and Atl. Pipe Lines v. Home Ins. Co., 146 Pa. St, 846. 
** Brown v. Cotton and Woolen Mfs.* Mnt. Ass. Co. of New England (Mass.), 81 
N.B.,601. 

•• Blackwell v. Miami Valley Ins. Co., 48 Ohio St., 688. 

*f Virginia Fire and Marine Ins. Co. v. Vanghan (Va.), 14 S. B., 754. 

•8 Fire Ass'n of Phil' a v. Poumay (Ter. Sup.), 19 S. W., 798. 

•* German Ins. Co. of Freeport v. York (Kan.), 39 P., 686. 

«o Walradt o. Phoenix Ins. Co. of Hartford. 19 N. T. S., 298. 

•1 Caraher v. Boyal Ins. Co. of Liverpool, 68 Hon., 83. 

•* Crittenden v. Springfield Fire and Marine Ins. Co. (Iowa), 62 N. W., 648. 

•> Taylor v. Merchants' and Bankers' Ins. Co. aowi^, 49 N. W., 994. .^Tp 



Legal Dbcisiohs nr 1B92. 157 

The execution of a chattel mortea^ce on partnerahip property by 
one of the partners, to secure his indiyidual debt, works a change in 
the interest in the property, within the meaning of a clause in a policy 
proTided that it shall be void, if any change, other than by the deaui 
of the insured, takes place in tlic interest, title, or possession of the 
insured.*^ 

An insurance policy conditioned to be void if the assured en- 
cumbered the property without the company's consent, is not yitiated 
by encumbrances made by other peisons, nor by those made by the 
assured, not exceeding the original encumbrance when the insurance 
was effected. *^ 

The recoyery of judgments against the holder of a policy subse- 
quent to the issue thereof will not yitiate the policy, although the 
same stipulates against encumbrances.*' 

A proyision in a policy that it shall be yoid, if any proceedings to 
foreclose a mortgage on the property, within the knowledge of the 
assured, be commenced, is yalid." 

Where a policy on mortgaged premises is assigned, with the in- 
surer's consent, to the mortgagee, the policy will not be forfeited by 
a foreclosure of the mortgage/^ 

Where a single policy of insurance coyers both real and personal 
property, a mortgage on the realty alone, in yiolation of the terms of 
the policy, docs not invalidate the insurance on the persoualty.*' 

Where a policy on buildings and on personal property therein, in- 
suring each for a certain amount, is yoid as to the buildings because 
of an incumbrance, it is also yoid as to the personal property.''^ 

Where a policy provided that if insurance should be ohtained in 
other companies, the policy should be considered '' sunk," it was held 
that obtaining such other insurance rendered the policy absolutely 
void." 

Where a mortgagee takes out additional insurance without the 
mortgagor's consent, the policy of the mortgagor will not be forfeited 
under a clause prohibiting additional insurance. ''* 

Where a plaintiff's partner, without his knowledge or notice to the 
company, placed additional insurance on the partnership property 
it was held that the proylsions of plaintiff's policy were not thereby 
violated." 

The burden of proof is on the defendant to show that the plaintiff 
had additional insurance.''^ 

Oanstruetion, — Where words used in an insurance policy are sus- 
ceptible of two interpretations, that which will support the claim of 
the assured shall be adopted.*" ^* 

•« Olnej V. German Iiu. Co. (Hichlfcan), 60 N. W., 100. 

«» WeiM V. American Plrc In*. Co. of Phil. (Pa. Sup), S3 A., 991. 

•• People's Mut. Fire Inn. Co. v. Bowensox, 6 Ohio Cir. Ct., 444. 

" Qninlan v. Providence- Washington Ins. Co., 188 N. Y., 866. 

•c Billings V. German Ins. Co. of Preeport (Neb.), 63 N. W.. 897. 

•• Pratt V. DwellingHoQse Mat. Fire Ins. Co., 180 N. Y., S06. 

70 Stevens 9. Oneen Ins. Co. (Wis.), 61 N. W., 865. 

f > Marshall t7.In8. Co. of North America, 10 Fa. Co. Ct. R., 87. 

Ts Niagara Fire Ins. Co. v. Scammon (111. Snp.), 86 N. £., 919. 

7* HalTv. Concordia Fire Ins. Co. (Mich.), 51 N. W., 624. 

«« RoflMll V. FideUty Fire Ins. Co. (Iowa), 60 N. W., 646. 

'• Weatem and All. Pipe lines v. Home Ina. Co., 146 Pa. St., 946. C^r\r\n]r> 

T« 0«niuuU»FireIn«. Co. «. Deckard, 1}8 N. B.. 868. Digitized by V^OOglC 



158 Lboal DaciuoKs nr 1892. 

Proof and Payment of Lorn. — Where the tenna of the policjr require 
the iDsared to n^e a particular inventoiy after a fire, he is excused 
from such requirement if the goods are so damaged that it is not 
reasonably practicable to make such an inrentoiy.''^ 

Schedule of items destroyed by fire would, if accepted bj the 
adjuster, satisfy the requirement that a sworn statement in writmg of 
the (value of and the amount of loss on each item, with other parttcu- 
lars. should be furnished within sixty days from loss.^* 

Where the policy provided that the assured should furnish, if re- 
quired, a certificate of a magistrate or notary stating that he has 
examined the premises and belTeyes that the assured has ho^estlv sus- 
tained loss to toe amount to which he shall certify, it was held that 
the furnishing of this certificate was a condition precedent to the right 
to recover unless the company has itself prevented his obtahiing the 
certificate/* 

The fact that goods are shown to be of much less value than that 
sworn to will not, of itself, show that the proofs of loss were wUlfuU j 
and falsely made.^ 

Under the laws of Iowa requiring holder of policy to give notice 
of loss, accompanied by an affidavit showing how the loss occurred, 
the notice and affidavit need not be attached together nor delivered at 
the same instant.^* 

Where the agent who procured the policy gives timely oral notice 
to the secretary of the company, who acts upon it, the notice is suf> 
ficient.®* 

Proofs of loss prepared by defendant's adjusting i^ents within a 
proper time, containing all material facts, are sufficient."* 

Failure to give noUce of loss, as required by the policv. will not 
forfeit the ri^ht to recover unless such failure is expressly made a 
cause of forfeiture by the policy.** 

Where the court finds that defendant's agent really prepared the 
proofs of loss, with the assistance of the insured, who was guilty of no 
fraud or concealment, such proofs are not conclusive of the actual loas 
as against the insured.*^ 

In an action against several insurance companies where the loss ex- 
ceeded the aggregate amount of all the x)olicies, the plaintiff can re- 
cover the total amount of the risk assumed by each defendant, with 
interest." 

Where a building is so injured by fire as to lose its specific char- 
acter as a building, it is a total loss, notwithstanding that some of the 
walls are standing and some of the material not destroyed.*^ 

Objections to the timeliness and sufficiency of proofs were waived 



" Powers Drj Goods Co. v. Imperial Fire Idb. Co. of London (Minn.), 61 N. W., ISS. 

" Yonng V. Ohio Farmers' Ins. Co. (Mich.), 69 N. W., 454. 

T» Lane v. St. Paul F. and M. Ins. Co. (Minn.), 69 N. W., 049. 

«o Pelican Ins. Co. v. Schwarz (Tex. Sup.), 19 8. W., 874. 

•» Russell V. Fidelity Fire Ins. Co.. BO N. W., 646. 

»« Peninsular Land, Tranepn. and Mfg. Co., v. Franklin Ins. Co., 86 W. Va., 686. 

*• Jenison v. State Ins. Co. (Iowa), 52 N. W., 186. 

»* Peninsular Co. v. Franklin Ins. Co., supra, 99. 

" Crittenden v. Springfield Fire and Marine Ins. Co. aowa), 68 N. W., 648. 

»• Pclzer Mfff. Co. v. Sun Fire Office of London (S. C), 16 8. K., 669. C 

•' Hamburg-Bremen Fire Ins. Co. v. Garllngfon, 66 Tex., 108. 



oogle 



Legal DsoisioNa in 1892. 159 

where they were not raised by an adjuster who inspected the premises 
and made an estimate of the cost of rebuilding.^ 

Where one who is insured concurrently in seven companies makes 
claim for his whole loss against six of them and the whole loss is thus 
settled and paid, the seventh company is discharged as to him,, and its 
liability, if any, is to the other companies for contribution.^' 

Where the assured inadvertently makes an incorrect statement in 
his preliminary proof of loss, such statement may be corrected by 
parol testimony at the trial of a suit on the policy, where the same ex- 
planation has been asked for bv letter and given m substance by letter 
before the institution of the suit.^ 

Wliere the issue was whether proofs of loss, as required by the 
policy, were made out and delivered to the defendant, and not what 
was contained in such proofs, parol testimony was admissible.** 

The policy is prima fade evidence of the value of the property 
destroyed.*' 

Formal proofs of loss are unnecessary in case of a total loss upon 
buildings. •• 

A general notice to the assured that the proofs of loss are insuf- 
ficient is not enough, but the particular defect must be specified.*^ 

Where the agent failed to deliver the policies to the insured until 
after the loss, but they were signed before the fire, and were for a less 
amount than that applied for, it was held, that a valid contract existed 
between the plaintiff and each of the companies, as the agent acted for 
plaintiff in choosing the companies and distributing the risk.*^ 

Waiver. — A provision that proofs of loss must be furnished within 
a certain time is waived where, after the expiration of the time, a writ- 
ten agreement is made to submit the amount of loss to an appraisal.** 

Where the company's adjuster visited the scene of a fire the day 
after the loss occurred, and told the insured that he need furnish no 
notice nor proof of loss, it was sufficient excuse for not giving notice 
of loss within 50 days.*^ 

The fact that the agent and adjuster of a company appear upon the 
premises after a fire and commence an examination of the damage, 
does not constitute a waiver of strict proofs of loss.*^ 

Where the adjuster's conduct after a fire was such as to induce an 
honest belief on the part of the assured that the proofs then being made 
were all that were required bv the company, the jury might find that 
formal proofs were waived.** 

A company did not waive the condition that the policy should be 
void if the houses were vacant, by issuing the policy at a time when 
they were vacant.*^ 

•« Capitol City Ins. Co. v. Caldwell (Ala.), 10 So., 855. 

•* WflliamabarK City Fire Ins. Co. v. Gwlnn, 88 Ga., 65. 

*^ Hanover Fire Idb. Co. v. Lewis, tupru, 100. 

*> PelzerMfg. Co. v. Sim Fire Office, gupra^ 102. 

•« Martin v. Capital Ins. Co. of Ohio (Iowa), 58 N. W., 584. 

•* Weiss V. American Fire Ins. Co., 88 A., 991. 

•< Qerow v. Providence- Washington Ins. Co. 

•• Michigan Pipe Co. v. Michigan F. and M. Ins. Co., 63 N. W., 1070. 

•• Bishop V. Asricoltaral Ins. Co., 180 N. Y.<,4S8. 

•' Pha?nlx Ins. Co. «. Pickel (Ind. App.), 29 N. H., 488. 

•» Scottish Union and Nat. Ins. Co. v, Clftncey, 18 S. W., 489. 

•• Griatock f>. Royal Ins. Co. (Mich.), 49 N. W., 634. r^ i 

JM Connecticut Fire Ins. Co. v. Tllley (Va.), 14 S. B.. 861. Digitized by CjOOQIC 



160 Lboal Dbcisionb in 1892. 

Where the company's adjuster adjusts and compromises a loss, 
agreeing to pay the loss as adjusted in a few days, the company 
waives the conditions of the policy."* 

Where the policy provides that no officer or agent of the company 
shall hajre power to waive any provisions or conditions embraced in 
the printed and authorized policy, the assured is bound by the limita- 
tion of the agent's authority. *" 

Where the agent waived a prohibitory clause against the use of 
gasoline and subsequent agents, though aware of its use, did not can- 
cel the policy, the company was bound by the waiver.*®* 

After proof of loss defendant refused payment on the ground of 
one of the defenses mentioned in the policy, and made no mention of 
other defenses, although cognizant of them at the time. Plaintiff in- 
curred expense in attempting to adiust the loss on this basis, paid 
several assessments and subsequently brought suit. EM, that de- 
fendant was estopped from setting up any other defense than that 
brought to plaintiff's notice.*^ 

A provision that no agent shall have power to valve conditions ex- 
cept in writiug endorsed on the policy, is valid, and a verbal waiver 
by him of proofs of loas is not binding on the company.*** 

A company which retained proofs of loss 86 days without objection 
waived the fact that they were delivered a few days lalc.'*^ 

Where proofs are retained by the company without objection de- 
fects therein will be regarded as waived.'®' 

Where the insurance company denies its liability formal proofs of 
loss are unnecessary.'®^ 

Refusal by the company within 60 (hiys to pay the lo9s absolved the 
insured from the necessity of furnishing proofs of loss.'®* 

Where the adjuster examined the premises after the fire and in- 
formed the insured that Ihc company would not pay him, that amounts 
to a waiver of proof of loss."® 

Where the insurer, after having received proofs of loss, writes for 
furtlier particulars as to certain facts furnished in the proofs, and does 
not request that they be in verified form, as required by the policy, it 
waives the formality of verification.'" 

The fact that an insurance company had actual notice of a loss and 
its adjuster was present several days takinf^ proofs of loss is a waiver 
of the formal proofs provided for in the policy."* 

A forfeiture is waived by the company where after full knowledge 
of the facts it requires the assured to make proofs of loss."* 



»o» Wagoner v. Dwelliner-HouBe Ine. Co., 148 Pa. St.,. 388. 

»"8 Qninlan t;. Providence-Washington Ina. Co., gvpra^ 67. 

»"' Farmers' and Merchanta' Insurance Co. t». Nixon (Col. App.), 30 P., 48. 

»«« Towle u. Ionia E. and B. Farmers' Miit. Fire Ins. Co. (Mich,), 61 N. W., «7. 

>o» Gould p. Dwdling-Houso Ins. Co. (Mich.). 51 N. W., 455. 

»o« Weiss V. American Fire Ins. Co. of Phil. (Penn. Sup.), 23 A., 991. 

»o' VanKuldertaelcn p. Phenix Ins. Co. of Brooklyn (Wis.), 51 N. W., 1122. 

»<»» Weifis r. Amorican Fire Ins. (,'o., *?////«, 95. 

»»" Younc r. Ohio Fanners' Ins. Co. (Mirh.\ 62 N. W., 454. 

»»0Ea8t Texas Fire Ins. (^o. r. Brown. 86 Tex., 631. 

>" Hanover Fire Ins. Co. v. Lewis (Fla.), 28 Fla.. 209. 

»ia Cashing v. Williamsburg Citv Fire Ins. Co. (Wash.), 80 P., 736. 

»'» Reploglc V. Americ:an Ins. Co. (Ind. Sup.), 31 N. E., 947, 

Digitized by VjOOQIC 



Lboal Dbgibioks in 1893. 161 

Where the compaoy's age^referred to a sworn Btatement of the 
insured as ''proofs of loss, and said that nothing more was required 
and afterwards offered to settle the claim, ffda, that the company 
had waived formal proofs of loss."^ 

Proof of loss is waived where the company alleges in its answer 
that the loss was adjusted by arbitration and pleads the award in de- 
fense."' 

Miscellaneous. — Where the policy provided that it should be void 
if the interest of the insured was not trulv stated and when the plaintiff 
insured the property in his own name without informing the company 
that it belonged to his wife she could not recover for the loss."* 

Where the agent promises to endorse on a policy the company's 
consent to the removal of the property insured, and he neglects to do 
80 before the property is destroyed by fire, the company is estopped 
from setting up the want of such endorsement."^ 

Where there was additional insurance at the time the policy was 
issued and in violation of its conditions, the policy is not made binding 
on the company by the fact that there was no additional insurance at 
the time the property was burned."^ And notice to the agent of the 
existence of the additional insurance is not sufScient to constitute a 
waiver by the company unless the agent is a general agent. Id. 

Insurance on a barn and the contents thereof did not cover horses 
which, although stabled therein, were killed by lightning outside."* 

After a loss has occurred the insured may assign the right to re- 
cover although the policy was not assignable."^ 
• A notice to a policy-holder calling his attention to the cancellation 
conditions of the policy and declaring the effect of the holder's failing 
to pay premiums is not such a notice of cancellation as is demanded 
by the policy."' 

One who is in possession of property under a contract of sale from 
the equitable owner thereof, has an insurable interest therein.*'' 

Wliere a life tenant's interest is described in the policy as being in 
fee, the burden is on her to show that the mistake was made by the 
company's agent."* 

An insane person cannot be held, in setting fire to his property, to 
have had such a fraudulent or wrongful design as to defeat the insur- 
ance, although his estate may afterwards be called upon to respond 
for the act."* 

Notice of loss conclusively shown where company sends an ad- 
juster to the fire."* 

Beeent Cases not FuUy B^Mrted.—The supreme court of Iowa has 
just decided that a clause in the lease of an elevator owner, whose 

>" WriRht V. Fire Awn. of London (Mont), 81 P., 87. 
"» St. Paul F. and M. Ins. Co. v. Gothelf (Neb.), 68 N. W., 187. 
»»• DiflfenhauKh v. Union Fire Ine. Co. (Pa. Sup.), 84 A., 746. 
»" Henschel v. Oregon P. and M. Ins. Co. (Waah.), 80 P., 785. 
»»« Reed v. Egultabre F. and M. Ins. Co. (R. I.), 34 A., 883. 
»»• Farmere' Mat. Fire Ins. Awn. v. Keyder (Ind. App.), 81 N. E., 861. 
«»• Star Union Lumber Co. v. Finney rNeb.), 62 N. W., 1118. 
>si Savnge v. Pbcenix Ins. Co. of Brooklyn (Mont.), 81 P., 06. 
»«« Cnrpentert?. German Ins. Co. (N. Y. App.), 81 N. E., 1016. 
»'» Welch 9. London Asenr. Corp. (Pa. Sup.), 26 A., 142. 

»" D'Autremont v. Fire AH«n. of Phil., 20 N. Y. 8., 844. r^ 1 

115 Welsh r. London Assurance Corp., mpra^ 128. Digitized by VjOOQ LC 

8* ^ 



162 Lboal Decibioiib ih 1898. 

building stood on property belongiiyeiAo a railroad, which proyided 
that the railroad shoula not be liable for fire caused by its negligence, 
was void. The point is a new one and has never been passed upon 
previously by any appellate court, though such leases are in general 
use by railroads all over the United States. Following are the facts 
of the case: U. J. Griswold owned an elevator on ground leased by 
him from the Illinois Central railroad, in which lease he agreed ttiat 
the railroad should not be liable for damaj^e by fire caused through its 
negligence. Sparks from a passing engine subsequently caused the 
destruction of the elevator; the insurance companies paid the assured, 
and being subrogated sued the railroad for the sums paid, claiming 
that the lease was invalid and void as being contrary to public policy 
in that it undertook to protect the railroad against its own negligent 
acts. The district court held the lease valid, and this has been the 
general opinion among lawyers, but the supreme court holds it con- 
trary to public policy, and therefore void. 

The supreme court of Indiana in reversing a case (Bowles e. 
Phoenix insurance company) appealed from the Tippecanoe county 
court held : 

(1) The general rule that where there is a provision clearly avoid- 
ing a policy of insurance If the property is represented to be unin- 
cumbered, the existence of an incumbrance is fatal to a recovery on 
the policy, cannot govern where the assured correctly stated to the in- 
surer that there was an incumbrance and the latter undertook to em- 
body the statement in the application but instead stated therein that 
there was not. (2) An answer to a complaint on an insurance policy,^ 
which pleads a breach of the provision of the policy against incum 
brance is a plea in confession and avoidance and must avoid all the 
material allegations of the complaint, as, in this case, the allegation of 
the false entry into the application of the insured's answer as to in- 
cumbrances, or it is bad. A complaint may anticipate and avoid a 
defensciand an answer in confession, and avoidance of such a com- 
plaint must respond to it as a whole. (8) Where a demurrer is over- 
ruled to a clearly bad answer, there is reversible error unless it ia 
clearly apparent from the record that the ruling was harmless. (4) 
While increasing an existing incumbrance avoids a policy, yet where 
there is an honest and excusable mistake in computing the amount of 
such incumbrance to renew it, there is not an increase of the debt 
which avoids the policy. (6) The renewal of the evidence of the ex- 
isting debt will not avoid the policy. (6) Where no fraud is averred, 
an answer alleging that the insured made an overvfduation of his 
property and thus forfeited his policy is bad. (7) An agent authorized 
to receive applications represents the insurance company and if he re- 
ceives truthful information from the insured and undertakes to cor- 
rectly fill the application, but instead inserts false statements, the 
insured will not be made to suffer therefrom. (8) The failure to fully 
state a fact in special verdict does not render material errors in ruling 
on demurrers harmless. 

The supreme court of Alabama held. In the recent case of the 
Qerman-American insurance company v. Commercial Fire insurance 
company, that a custom among underwriters in New York city to 
class certain stores as distinct hidings for purposes of insurance, and 

-^—-^ ^.^ 



Lbqal Dbgibiohb ux 1892. ^ 168 

to insure them severally as separate risks, was not binding on an insur- 
ance company domiciled in Alabama, without proof that the latter 
had knowtedge of such custom when a contract was made with an- 
other company for re-insurance in that city. 

A very important decision affecting the interests of fire companies 
was rendered by the supreme court of Texas. The title of the case 
was Missouri Pacific railway company v. Sherwood. The point de- 
cided was that when a through bill of lading excepts liability for fire 
loss, the clause is valid. But when it Is inserted in domestic bills of 
lading, from points in Texas to points in the same state, the statutes 
declare the clause invalid. This decision gives railroads a perfect 
defense against subrogation claims of marine companies where losses 
occur on through shipments. Hitherto, in case of marine insurance, 
the marine companies paid the loss to the assured and then recovered 
from the railroads. The latter then had their remedy against fire com- 
I>anif s where they were insured. Now, the marine companies have 
no recourse, but must stand the loss. A^ they cannot get re- insurance 
on shore risks, they will reduce their liability. This case directly 
affects a large amount of insurance. The Paris cotton fire of Novem- 
ber 22, 1891, was a heavy one, and claims against railroads amounting 
to $19,186.48 remain unadjusted. If paid bv the railroads, the fire 
companies would have to pav the railroads. The insurance companies 
have notified the railroads of the decision, but admit their liabilitv to 
the extent of $4,200 under domestic bills of lading. This will be a 
heavy blow for the marine companies, and will cause a great demand 
for fire policies on cotton hitherto covered by marine. 

LIFB INSURANCE. 

Affenti. — One who is agent for an insurance company for the pur- 
pose of receiving applications has authority to agree that a life policy 
shall, in its second year, be reduced one half in amount.* 

Where an agent, for the purpose of compromising a claim, fraudu- 
lently and falsely assures the beneficiary that the insured died by his 
own hand, the lieneficiary may retain the money received on the com- 
promise and sue the company for damages resulting from the deceit.* 

Application. — Under the law of Pennsylvania which provides that 
an application which is not attached to the policy shall not be consid- 
ered a part thereof, the court properly rejected an application de- 
tached from the policy, offered in evidence by the company.* 

Where the applicant agrees in his application that if any statement 
therein is UDtruCf although made in good faith, the policy shall be 
void, such agreement is invalid as conflicting with the Pennsylvania 
statute.^ 

The right of the insured, reserved in the policy, to change the ben- 
eficiary is not affected by the fact that such reservation is not in the 
application also.* 

Where a policy declares that no agent has the power to modify it 



1 Sengfeider v. Mutnal Life Ins. Co. (Wash.), 81 P., 428. 
9 Michiftan Mnt. Life Ins. Co. v. Naugle (Ind.), 29 N. E., 803. 
» Mahon v. Pacific Mat. Life Ins. Co. (Pa. S. CX 22 A., 876. 
* Fidelity Mat. Life Aaan. v. Fichlin (Md. C. A.), 23 A, 197. 
» Hopkins v, HopkioB (Ky. C. A.), H S. W., 86i 



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164 . Lboal DscifliOKB in 1893. 

"or to bind the company by making any promise, or by recelTinff 
any representation or information not contained in the application, 
and an agent writes the applicant's answers to certain questions and 
the applicant signs his name thereto, such answers cannot be avoided 
by evidence that the applicant did not Icnow the contents of the appli- 
cation or that they were known to be false by the asent.* 

Where the policy provided that it should be void in case there was 
another policy in force on the same life issued by the company unless 
the first policy contained an endorsement authorizing the second pol- 
icy, and where the insured stated in his application that his life was 
not insured in the company. Held, that the company must be charged 
with knowledge of the existing policy and that the condition was 
waived.'' 

The representations of the insured in his application that he had 
not taken a drink for over a year, were material to the risk and 
amounted to a warranty/ A warranty that insured is of sober habits 
means not only at the time of the application, but for such a reason- 
able time prior thereto as would allow one to form a habit. ^ 

Where an application has been made to an insurance solicitor, but 
the applicant dies before the policy is issued, the presumption is that 
there was no contract of insurance.* 

Where the truth of certain answers in the application is ques- 
tioned, the rule is that all matters which go to show the contract void 
or voidable, on the ground of fraud or otherwise, must be specially 
pleaded.'® 

Assignment of Policy, — The right of the insured, reserved in the 
policy, to assign it to or change the beneficiary thereof, will not be 
affected by the fact that the reservation is not contained in the appli- 
cation." 

Where the insured, who was indebted to an estate of which he was 
executor, deposited a policy on his own life with other papers of the 
estate, with a memorandum stating that it was collateral for the pay- 
ment of his indebtedness, and gave no notice to the company of any 
attempted transfer, it was hdd, that such acts did not assign the policy 
01* create a lien thereon, superior to the rights of a creditor which had 
attached by virtue of legal proceedings." 

The statute allowing a father to insure his life for the benefit of a 
minor child, does not authorize the assignment of a policy on his life 
to his minor children, he being in debt at the time.*' 

Where a beneficiary under a life insurance policy, entered a home 
for incurables and assigned to it all her propertv and any property that 
she miffht thereafter become entitled to, and where she died before the 
insured. Held, that the home was entitled to such beneficiary's 
share." 

• Fitzmaarice v. Mnt. Life Ins. Co. (Tex.), 19 S. W., 301. 

» Lani|5an v. Prudential Ins. Co., 44 N. Y. State Reporter. 234. 

« Mutaal Life Ins. Co. i>. Glviden, 13 Ky. Law Reporter, d?D. 

» Paine t>. Pacific Mut. Life Ins. Co., 61 Fed. R, 689. 

>o Bei\}amin v. Conn. Indemnity Assn., 29 S., 628. 

*i Hoplcins r. Hopkins, mpra, 5. 

1* Falk V. Janes (s. J.), 28 A., 813. 

»» Friedman v. Fennel! I Ala.), 10 So., 649. 

»< Hewlett V. Home for Incurablee of Baltimore City, 24 A., 824.^^.^.^!^ 



Legal Dbcisionb in 1892. 165 

Beneficiaries. — The policy provided that the insured might nom- 
inate any person as beneficiary, or that the sum should be paid to his 
assigns, or according to such disposition as he should make by deed, 
will, or other instrument in writing, and if there were no such dispo- 
sition then the sum should be paid first to the widow, and if no widow, 
then to the children of the insured. Insured died without naming a 
beneficiary, leaving a will but not mentioning the insurance policy. 
Held^ that the power of disposition by will had not been exercised and 
that the children were entitled to the insurance in equal shares.*' 

The beneficiary of certain policies was appointed administratrix of 
the estate of the insured. Her final report was objected to by certain 
creditors on the ground that during his life the decedent had paid the 
premiums on his insurance after he became insolvent, and the creditors 
claimed the. amount of such premiums. Held, that she was not required 
to deduct the amount of such premiums from the proceeds of the 
policies.** 

Where the policy provided that the money should be paid to a cer- 
tain person, trustee for the insured's mother, it is competent to show 
by parol testimony that insured stated in his lifetime th^t he created 
the trust to provide for his mother's support after his death. Where 
the mother dies before the insured, there is a resulting trust in his 
favor and the proceeds of the policy are a part of his estate.*'' 

Where the policy is in the form of an endowment and where the 
premiums have been paid by an insolvent debtor, the insurance money 
received by the wife as beneficiary during the lifetime of the insured 
is subiect to the claims of creditors.*^ 

Where the widow and children are named as beneficiaries, the 
statutory rule, under which the widow is entitled to one-third of the 
personalty of the husband, and the children to the remaining two- 
thirds, prevails.*' 

Where the policy allows the company to select the beneficiaries out 
of a certain class, its decision is conclusive against the representatives 
of the assured. Such a provision is not against public policy.'<^ 

A written designation of a beneficiary and request that the policy is 
to be paid to such person addressed to the insurance company, made 
by the insured upon a paper furnished by the company and in the 
form and manner therein provided, is sumcient evidence of the right 
of such person to recover on such policy.'* 

A policy for the benefit of the wife and children of the insured 
vests, when issued, the amount of the policy in the wife and children 
then in being, to the exclusion of children born afterwards." 

Where a policy is made payable to the widow of insured, and, his 
wife dying, he marries again, the heirs of his first wife cannot claim 
the proceeds against the second wife, who actually became his 
widow. Where the policy is made payable to the executor or ad- 

»» /» r« Davien, 8 Chancery Division, Law Reports, €3. 

»• Succession of Brownlee (La. 8. O.), 11 S., B90. 

" Bancroft v. Rusacll (Mass.), 81 N. E., 710. 

»« Talcott V. Fields (Neb.), 53 N. W., 400. 

" Kelly V. Ball (Ky.), 19 ». W., 681. 

*• Thomas v. Prodential Ins. Co. (Pa.), S4 A.y 82. 

SI Amott V. Prudential Ins. Co of America, 17 N. T. Sopplcment. 710. 

M Conn. Mut. Life Ins. Co. v. Baldwin, 23 A., 105. C OOqIp 



166 Lboal Dboibiohb in 189d. 

miniftrator " for the benefit of my widow," the actual beneficiary may 
collect the money direct and without administration.*' 

Where the insured took out a policy for the benefit of her children 
and died leaving no children surviying her, and her executors sued to 
recover the amount of the policy, it was held that the suit could not be 
maintained, as the insurance was for the benefit of the children, and 
no one else.** 

OreditoTi, — A creditor may lawfully take out a policy of insurance 
on the life of his debtor in an amount to cover the debt and interest, 
and the cost of such insurance with intercut thereon durine the period 
of the expectancy of life of the insured acconling to the CaRlsle tables, 
and the lact that the debtor dies before the expiration of his expect- 
ancy does not render the insurance void. The money paid by the 
creditor for the funeral expenses, in pursuance of an agreement, was 
properly included in the indebtedness secured by the policy.*^ 

A creditor named as beneficiary in, or made the assignee of, a 
policy on his debtor^s life, has no further interest after the payment of 
his debt, and the policy becomes one for the benefit of the insured and 
can be collected by his peraonal representatives.** 

Forfeiture. — Where a company received payment of an installment 
of premium while a subsequent installment is overdue, it waives the 
right to claim a forfeiture on the ground that said subsequent install- 
ment was not paid on the day it became due.*'' 

The fact that a company frequently indulged its policy-holders for 
80 days after their premiums became due, creates no obligation to 
waive a forfeiture for default of prompt payment, and where such de- 
fault continues for nine days and the insured dies, there is no obliga- 
tion on the part of the company to accept the overdue premium from 
the beneficiary of the policy.'* 

The policy provided that it should be void if premium notes were 
not paid at maturity. A note was several times renewed and on the 
last renewal the insured requested the company to give him terms 
upon which it would cancel the policy and note. The company re- 
fused to cancel the policy without full payment of the note. Insured 
died without having paid the note. Held, that the company wss liable, 
as it had elected not to forfeit the policy.** 

Where the evidence showed that out of ^ pavments made, 18 were 
received after they were actually due, it was held that the insured 
could legally infer that premiums might be paid within a reasonable 
time after they became due without forfeiture.*^ 

Two policies were issued by defendant on the same life, with the 
usual forfeiture clause for default in payment of premiums, provided 
that if default should be made after the receipt of two annual pre- 
miums, the company would issue a paid-up policy for a proportion of 
the sum insured, on the surrender of the old policy free from indebt- 

«» Phelan v. Phclan, 21 Ine. Law Journal, 08. 

a< McElwee v. N. Y. Life Ins. Co. (Clr. Ct.), 47 F., TW. 

» Shaffer v. Spangler (Pa. S. C), 22 A., 866. 

«• Qretty v. Union Mnt. Life Ins. Co., 12 8. C. R., 749. 

" DC Frece r. Nat. Life Inn. Co. (N. Y.), 82 N. E., 5M. 

a« Richardson v. Mut. Life Ine. Co. of Ky., 14 Ky. I-Jiw Reporter, 187. 

>* McGeachio r. North American Life Int>. Co., 12 Canadian Law Journal, 220. 

»o De Frece v. National Life Ins. Co., 19 N. Y. Sap., 8. ^oTp 



LBGAii Dbobiohs in 189d. 167 

ednesB whbin dz moDtha after default. PremiiiniB were paid on one 
poller for aU and a half yean, and on the other for five years, but the 
poliaea were not surrendered within six months after the default. 
MM, that the company was not liable. *> 

Where the policy proyided that forfeiture for non-payment of pre- 
miuma could not be waived by the company except in writing signed 
by the president or secretary, an oral agreement made by the secretary 
of the company outside of the state where the general offices of the 
company were located, would not continue the policy in force.'* 

InBurabU InUreti. — In an action to recover insurance on the life of 
a child, the plaintiff's step-sister, eyidence was given of a promise 
made by the plaintiff to the child's mother to help maintain it. De- 
fendants did not object that the plaintiff had made no expenditure on 
behalf of the chUd. EM, that plaintiff had an insurable interest in 
the child's life.o * 

IWd^p Friidei,-^ Where the policy provided that after payment of 
two or more premiums it "becomes a paid-up, non-forfeiture for an 
amount equal to a sum of one-tenth of that hereby insured for each 
and ewy premium which shall have been so paid," requiring no 
further parent of premiums and entitled to its proportion of accumu- 
lations. JoM, that there was no agreement to issue a paid-up policy 
at any time and there was no right of action before assured's death to 
determine the rights of his children in the policy.*^ 

PalUey — PtUd-up Inturance — CkmdiUan iVdMdan^— The premium 
on an endowment pol^ was payable annually for a pericxl of ten 
years, partly in cash ana partly in premium notes of assured, bearing 
interest. Ilie iM>licy provided that if default should be made by as- 
sured in the payment of any premium, the defendant would pay (at 
the maturity of the policy) as many tenths of the sum originally in- 
sured as there should have been complete annual premiums paid at the 
time of such default. But in order to secure such proportion of the 
policy, all premium notes must be taken up, or the interest thereon be 
paid annually in cash, on the date of the annual maturity of the pre- 
mium until the notes are canceled by the return of the surplus, or the 
whole policy will be forfeited, unless one or more annual payments 
have been made in full by cash payments or the application of the 
dividend. HM^ (1) That as to any notes outstanding when the as- 
sured makes default in respect to the annual premium, he must con- 
tinue to pay Uie annual interest in cash (until the principal is ex- 
tinguishea by the application of dividends), as a condition to main- 
taining the right to receive a corresponding number of " tenths " of the 
sum insured; (2) but the complete payment of the cash premium or 
premiums for any year or years, and the payment of the notes given 
for such years, secures a. non-forfeitable endowment of a correspond- 
ing number of tenths of the policy; (8) a dividend being applicable 
toward the payment of a note at the same time the interest on the note 

•> Northweetera Hat Life lot. Co. v, Barbour (Ky.), 17 8. W., 796. 
as HMtingB v. Brooklyn Life Ins. Co., 17 N. T. Sup., 888. 

•> Barnes t. London, Bd., and Glasgow Ins. Co., 1 Queen's Bench Division Law 
Reports, Jonel^'M, 864. 
1a i^jons V. Union Mat Ufe Ins. Co., 17 N. Y. 8., 156. 



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168 Legal Dbcibiokb in 1892. 

fell due, the default of the assured to pay the interest does not dis- 
cbarge the defendant from the duty to apply the dividend, if such ap- 
plication would pay off the note, and so prerent a forfeiture of the 
policy; (4) the default of assured in the payment of interest amount- 
ing to four cents, is too trifling to be noticed; and (6) a non -forfeitable 
endowment of one-tenth of the policy having been secured, that may 
be recovered at maturity, less whatever may remain unpaid of the out- 
standing notes after applying dividends to extinguish the same.** 

Payment and Rebate of Premiums.— Where the policy provides that 
it shall become void in case of default in premium when it becomes 
due, the payment of the premium on or before the day it becomes due 
is a condition precedent to the risk. The policy provided that after 
the payment of two annual premiums, the insured could use the accu- 
mulated r^ate as a credit on the third premium or to extend the policy 
for a deflnite time. After the payment of one premium the company 
offered to credit a rebate on the second premium, but notified the in- 
sured that if such premium were not paid when due the policy would 
be terminated. Insured defaulted in the payment and died nme days 
after. Held, that the rebate did not prolong the insurance and the 
policy was forfeited." 

Where the evidence showed that of 21 payments all were made 
after they became due and at intervals varying from 20 days to five 
months. Held, that the evidence supported a finding that the company 
had agreed to accept payment of the quarterly installments within a 
reasonable time after they became due.'^ 

Where plaintiff took out policies on the A^es of her brother and 
sister, siting their names to the application with the agent's knowl- 
edge, and several years afterwards found that they were void on that 
account. Held, that she was entitled to recover the premiums paid.^^ 

Defendant mailed the following notice to plaintiff: "In oraer to 
continue and extend the insurance it will be necessary that the pre- 
miums required for that purpose should be paid on or before the date 
above mentioned, as stipulated in the policy contract. This notice Is 
given to meet the requirements of the New York law." Held, that the 
notice was insufl^cient in not stating that " if not paid the policy and 
all payments thereon will become forfeited and void," such being the 
language of the statute. >> 

Where a deceased partner misappropriated partnership funds which 
he partly applied to payment of premiums, the surviving partner may 
recover such premiums from Uie widow and beneficiary. Premiums 
paid by such partner and charged in the books as overdrafts are not 
recoverable from the widow by the surviving partner.*^ 

The law of New York making it a criminal offense for an agent to 
pay a rebate as an Inducement to insure in his company, is not uncon- 
stitutional. It was immaterial that defendant's company was a foreign 
corporation.** 

"Van Norman t». Northwestern Mut. Life Inn. Co., 62 N. W., 988. 

'•Richardson v. Mut. Life Ins. Co. of Ky., supra^ 28. 

*'' De Frece r. Nat. Life Ins. Co., 82 N. K., 536. 

■8 Fnlton V. Metropolitan Life Ins. Co., 1» N. Y. 8up., 660. 

■• McDougall V. Provident Saving Life Assar. Soc. of N. Y., 19 N. Y. S., 481. 

40 Holmes v. Oilman, 19 N. Y. 8., 161. 



"Peoplet>.Fonno»a,80N. E., 498. r. ..„.u GoOqIc 



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Legal Dscibiohb ra 1892. 169 

s 

PlaintifE proved tender of premium 37 days after it was due. 
Court charged that waiver might be found if the whole conduct of the 
company was such as to lead a prudent and reasonable man to believe 
that premiums tendered a few days after they were due would be ac- 
cepted. Held, a proper charge.*^ 

Where it was conditioned that the first premium should be paid on 
delivery of the policy, an allegation that the policy was executed and 
delivered for value received, is sufficient on demurrer." 

Where the premiums were paid with money stolen by the assured 
from a firm of which he was a member and the amount stolen exceeded 
the policies, the entire proceeds belonged to the firm as against the 
beneficiary.*' 

After a default in parent of premiums the company received the 
arrears from the beneficiary. Held, that there was no lapse of policy.** 

The New York law prohibiting discrimination in premiums is not 
unconstitutional.'** 

Proof of Death and Quidde. — The condition that the policy shall be 
void if the assured die by his own hand, does not apply where the as- 
sured killed himself by the accidental taking of an overdose of lauda- 
num, nor where he intentionally took the dose but was of unsound 
mind.'*' 

The fact that the company received the proofs of death without 
question is an admission only that they are proper in form and not 
that all statements contained therein are true.*^ 

Where the policy provided that in case the insured died by his own 
hand, whether sane or insane, the company should be liable only for 
the premiums paid, and plaintiff's evidence showed that death was 
caused by insanity, and defendant offered no evidence, plaintiff is en- 
titled to a directed verdict for the full amount.** 

Jfwc^toneoutf.— Although the application is made a part of the 
policy and the truth of the answers therein is expressly warranted, 
breach of such warranty is a matter for special plea, and evidence of 
such breach is inadmissible under the general issue.*^ 

It is for the court to say whether the preliminary proofs of death 
required by the policy have'been furnished.** 

Where plaintiffs are the beneficiaries named in, and are in posses- 
sion of, the policyi the burden of proof of showing that they are not 
the beneficiaries is on the defendant.*' 

The appointment of the state superintendent of insurance as the at- 
torney of a non-resident insurance company for the purpose of receiv- 
ing process, does not authorize him to accept service by mail.*' 

^"^ Hartford L. and A. Ins. Co. v. IJnsell, 12 Snp. Ct. Hcporter, 671. 
«» Stewart v. Union Mut. Ufv. hw. Co., 17 N. Y. S., 886. 
** Holmes v. Davenport, 18 N, Y. 8., 56. 
<» Amott p. Prudential InH. Co. of America, 17 N. Y. S., 710. 
•• People V. Formosii, gupra, 41 . 

<7 Michigan Mut. Life Ins. Co. r. Naugle (Ind.), 29 N. E., 3»3. 
**> Crottv e. Union Hut. Life Inn. Co., 12 Sup. Ct. Rep., 749. 
*9 Waycott V. MetroiJolitao Life Inn. Co. (Vt. S. C), 24 A., 992. 
BO Benjamin p. Conn. Indemnity Assn. (La. S. C), 29 So., 628. 
"' . Life" ~ . ^- . ^ 



»* Hermany r. Fidelity Mut. Ufe Ins. Co. (Pa. S. C), 24 A., Iu64. 
•a Hartford L. and A. Ina. Co. v. Wayland (.Ky.), 20 S. W., 199. 
*s Farmer v. I^at. Life Assn., SO^Fed., 829, 



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170 Lbgai^ Dbgibionb m 1892. 

Opinions expressed by physician while attending a patient, engaged 
in inquiry as to what was the matter with him, are admissible as m 
ffettae.^ 

An affidavit of defense to a suit brought by the administrator of 
insured, to whom the policy was payable, ayerring that the policy 
was issued and delivered to, and the premiums paid by, a tiiird party 
who had no insurable interest in the life of the insured, is in- 
sufficient. » 

The chancellor has power to reform a contract where there has 
been a mutual mistake of law.^ 

Where a letter is duly directed and mailed the presumption of law 
is that it was received by the person to whom it was directed, in the 
regular course of the mau.^^ 

MABINB INSURANOB. 

Acc&ptanee of Bisk.— In an action on an open policy which insured 
cargoes *' from place to place as endorsed herein, or in a book kept for 
that purpose," it was shown that the insured entered a certain cargo in 
the book writing '* from New York Harbor" in the space for the place 
of ladinff, but leaving the adloining space for tbe place of destination 
blank; that the book was then sent to defendant's agent, who ap- 
proved the risk by writing the word "harbor" in the space for sig- 
nature of approval, which was shown to be the customary way of ap- 
proving risks for New York harbor; that the assured had no oUief pol- 
icy and book and that he had never received from the insurance broker, 
who acted as defendant's agent, certificates of insurance in any other 
company. Held, that there was sufficient evidence to submit to the 
jury the question of defendant's acceptance of the risk.* 

The practice of the company was to enter its approval of risks in a 
book furnished to the assured in a column headed ''Approved," such 
approval being evidenced by the initials "D. and P. Ally's ". Udd, 
that repealed endorsements by the company of the letter *' D " in the 
column ** Approved " sufficiently complied with the policy.* 

Ahandanment. — Where a vessel only partiaUy insured is abandoned, 
the owner being to a certain extent his own insurer, has a proportional 
share in the abandonment and cannot hold the insurers liable for his 
share in the abandonment.' 

Where the agent has examined the wreck at the company's expense, 
and the owners have verified formal proofs of loss, and, on receiving 
notice that the company would raise the wreck, executed an assign- 
ment to the company of their interest in the vessel, which was re- 
tained by the company, it is error to hold that the boat was not aban- 
doned and that the abandonment was not accepted by the company.^ 

»< Mutual Life In*. Co. v. Tillman (Tex. 8. C), 19 S. W., 294. 
" Breniian v. Pnidcntlal Ins. Co. (Pa. 8. C), 28 A., 901. 
*• Welch V. Welch, 13 Ky. Law Reporter, 639. 
«' Hastings i', Brooklyn Life Ing. Co., 17 N. Y. Sup., 338. 
» Petric t'. Phenlx InH. Co. of Brooklyn, 132 N. Y., 187. 
« Heilner v. China Mut. Ing. Co., 18 N. Y. 8., 177. 

• Natchez and New Orleans Packet and Navigation Co. v, Lonieville l^nderwritere, 
11 So., M. 

4 Singleton v. Phenlx Ins. Co., 183 N. Y., ?98. 



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Lbgal Dbcuiokb in 1892. 171 

When the owner, after the stranding of the boat, gave defendant 
notice of his intention to abandon, but retained control thereof and 
had it repaired, and thereafter claimed and used the boat as his own, 
there was no abandonment and he could only recover his actual loss.^ 

Aaignment, — Where on payment of loss under a policy insuring 
sdTances, the insured assign to the insurer their claim against the ves- 
sel for advances and commissions, such assignment passes to the in- 
surer the commission for procuring a charter for the vessel, even 
though the claim for advances does not pass because it has been pre- 
viously released.* 

Barrairjf. — Where the master of a vessel fraudulently loaded her 
with cases of dirt and issued bills of lading for the same as valuable 
carffo and abandoned the vessel after having bored holes in her hull. 
HM, that the loss of cargo was within the ruk of barratry mentioned 
in the policy/ 

The rule that the owner of a vessel cannot commit the crime of 
barratiy by conspiring to bring about her destruction at sea, for the 
purpose of defrauding an insurer, does not apply to the case where the 
master it only part owner of the ship.^ 

Oarffo FoUcy. — The clause in a cargo policy insuring advances that 
" it i^nderatood that freight and advances insured under this policy 
are sublect to the terms and conditions of freight policy attached 
hereto, means that to the terms and conditions of the cargo policy are 
added such of the terms and conditions of the freight policy as are 
pertinent.* 

DuraHon of Biik,^ AXk insurance on a cargo to be delivered at 
some place in the same port would not be void because the duration of 
the risk waa not fixed by time nor for a voyage between specified 
places.* 

Sxieni of Ruk.^Where the application stated that the vessel would 
come down the river in tow and she came down without being in tow 
and was injured. EUd, that such statement was a material fact affect- 
ing the risk and its not beinff carried out avoided the policy.*^ 

An endorsement on a poflcy of re-insurance provided that it should 
cover "one-half of the value of all cargoes*' shipped by one T. A 
later endorsement provided that the re-insurance should be *' to the ex- 
tent of one half of the amount of each and every risk which equals or 
exceeds in value the sum of $15,000 on cargoes insured by the re- 
assured under open policies to T. and others, and " on cargoes of • 
$60,000 and upwards this policy is to cover the excess of $25,000 not 
exceeding the sum of $50,000 on any one cargo." The policv to the 
assured provided that he should " enter for insurance all goods at the 
full value thereof." EM, that construing the endorsements together, 
as in pari materia, with the terms of the policy of insurance, the word 
" risk " did not mean '* loss," nor did it mean the arbitrary value of the 

* IxtaisvUle Undenrriten v. P«noe (Ky.), 10 8. W., 10. 

* Phoenix Id8. Co. v. Paraoue, ISO N. Y., 86. 

* Votoin ff. Cmmnercial Mot. Ins. Co., 62 Hon., 4. 

* Phflsnix Ins. Co. v. Panons, supra, 6. 

* Petrie V. Phenlx Ins. Co. of Brooklyn, tunra, 1. 

}• Bti^y 9. Ocean Mat. Marine Ina. Co., if Can. 8. C. Bm 158. 

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172 LsoAii DBCinoifB nr 1892. 

cargoes as fixed in the policies, but rather the actual liability assumed, 
which was the real value of the cargoes insured." 

Inmranee on Advaneei. — Where insurance is affected at Lloyds 
"on advances" and these words are written in the valuation clause, 
the policy must be construed to be not upon advances for repairs, but 
upon something independent of the ship.*' 

Where a vessel valued and insured at $100,000 is a total loss and all 
the policies have been paid except one for $5,000, an action thereon 
cannot be defeated because other insurance on advances incident to the 
operation of the vessel has also been paid." 

Insurable Interest. — A partner has such insurable interest in a cargo 
belonging to the firm as will admit of his insuring it in his own name, 
and in the event of a loss he may maintain an action without joining 
his partners as plaintiffs." 

Under a policy insuring advances recovery cannot be had for com- 
mission for procuring a charter for the vessel, since the claim for such 
commission does not constitute a lien on the vessel, and is therefore 
not insurable.*^ 

Psrils Insured Against. — Where the policy insured against ** perils 
of the sea, canals, rivers, and fires, and all other perils, losses, 
or misfortunes that shall happen on the voyage," and the beat, which 
was seaworthy, reached her destination and was moored to the dock, 
and when the tide went out, pounded and broke in two. Held, that 
the loss was within the perils insured against.*^ 

Where the policy provided that 'Mi the ship hereby insured shall 
come into collision with any other ship or vessel, and the insured shall 
become liable to pay to the owner of such other vessel any sum of 
money," the insurer would pay the assured a certain proportion of the 
sum so paid. While the ship was being towed into port, her tug col- 
lided with and sank another vessel. Hdd, that the collision of the tug 
was the collision of the vessel insured, within the meaning of the 
policy. »• 

In a policy containing a warranty that the vessel should not load 
more than her registered tonnage, the term registered tonnage refers to 
her carrying capacity, as stated in the ship's papers under which she 
was sailing at the date of the policy.*^ 

Where a policy recited that the company assumed the unavoidable 
dangers of the river and that it should be free from loss by barratrv, the 
fact that the boat was stranded by carelessness of the master, will not 
prevent recovery, in the absence of evidence of fraud on the masters 
part. >8 

Where the boat insured was sunk and raised by salvors, the assured 
was sued in admiralty for salvage, the cumpauy was notified to de- 
fend, which it neglected to do, and the assured paid the judgment, it 

11 Continental Ins. Co. v. ^tna Ins. Co. of Hartford, 68 Huo., 654. 

" Providence- Washington Ins. Co. v. Bo wring, 1 U. S. App., 183. 

»» Voiain v. Commercial Mut. Ins. Co., in4pra, 7. 

14 Phoenix Ins. Co. v. Parsons, iupra, 6. 

i» Petrie v. Phenlz Ins. Co. of Brooklyn, fupra^ 1. 

i« McCowan v. Baine, App. Cas., 401. 

^^ Reck V. Phenix Ins. Co., 180 N, Y., 160. 

1" ^uisyille Underwriters v. Pence, supra^ 6. 



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Legal 1)scisioks in 189!^. 1%^ 

was held that the assured had the right to defend and the company 
must reimburse him for counsel fees and othef expenses in connection 
with the suit." 

Afiacellaneous. — A ship was insured in January at Rotterdam under 
a policy containing a warranty not to use ports in Europe north of 
Antwerp between November 1st and March 1st. Hdd, that Rotter- 
dam being north of Antwerp, the company waived the warranty. ^° 

Where libelant had an insurable interest in the vessel by reason of 
advances exceeding the amount of the policy sued on, and the vessel 
was a total loss within the meaning of the policy, libelant was entitled 
to recover the amount of the policy from the company.^* 

The testimony of the captain that the boat was seaworthy and of 
the owner that she had been thoroughly overhauled before the voyage, , 
y^Hs prima facie evidence of her seaworthiness.** 

Evidence that a vessel sailed in May, was seen the following Oc- 
tober, and was never seen or heard of again, \a prima facie proof m an 
action on a policy expiring December 29th following, that the ship 
was lost during the lifetime of the policy.'* 

Under the general maritime law, there is no lien on a vessel for 
marine insurance premiums due from her owner.** 

Where the vessel insured was cuC adrift from a propeller in a storm 
and lost and a special verdict was found that she was cut adrift '' to 
relieve the propeller and tow from a danger of navigation and for the 
best interest of the property at risk," it was held, that the insurer's 
liability was not limited by such verdict to a general average loss.*^ 

MISCBIiLANEOUS. 

An amendment to the complaint, offered at the time the demurrer 
is filed and disallowed by the court, is not a part of the record and can 
only come to the supreme court by bill of exceptions, or annexed to 
the same duly authenticated.^ 

Where an insurance company filed a petition for the appointment 
of a receiver, whereupon the court made an order dissolving the cor- 
poration and appointing a receiver, so much of the order as dissolved 
the corporation must be reversed, the record not showing that the 
company requested to be dissolved.* 

Under an agreement by a principal to lend and advance a certain 
sum per month to his agent "which sum shall be a lien, until dis- 
charged, upon his commissions aforesaid, sums so loaned constitute a 
valid set-off in an action for commissions.* 

"The Employers' Liability Assurance Corporation, Limited," of 
Qreat Britain, doing business in New York, sought to restrain the 
" Employers' Liability Insurance Company of the United States," a 

i» HeUner v. China Mat. Ihb. Co., smira, 9. 

«« Reck V. Phenlx Ins. Co., 130 N. t:, 160. 

SI Kinsman v, China Mat. Idb. Co., 49 F., 876. 

*s Helhier v. China Mat. Inn. Co., supra, 3. 

" Beckf . Phenix Ina. Co., ISO N. Y., 160. 

•* San Ina. Co. v. The Hope, 49 Fed., 379. 

^ Britiah Am. Ina. Co. of Toronto v. Wilaon, 81 N. E., 038. 

> Sibley v. Mat. Reaerve Fond Life Aaan. (Qa. S. C), 18 S. C, 838. 

s /n re Kittanning Ina. Co. (Pa. S. C), 38 A., 886. 

* Johnaton v. Uhited States Ufe Ina. Co. (Maee.), 87 N. E., 883. 



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Hi Lboal Dbciuoks m 18M. 

Junior company, from doinj^ bosineis in the Mone state, on account of 
BimilaritY of name. EM, tbat a general injunction was properly 
refused/ 

In an action on a policy of insurance on a horse, the complaint is 
insufficient where it fails to show that the plaintiff owned or bad an 
interest in the horse at the time of its death.* 

The rule that one who has agreed to become a member of a corpor- 
ation, and has enjoyed the benefits and priyileEes of membership, can- 
not, when called upon to perform the obligations of his contract, set 
up as a defense that the corporation was not legally organised, is the 
same in a mutuid as in a stock company.* 

A foreign corporation engaged in business in any state in the United 
States, which appoints an attorney with power to reoeiye serrice of 
process in any suit against it, thereby consents in adTance to be sued 
therein.'' 

A local custom that insurance agents after the termination of their 
agency, may cancel any of the policies issued through them is un- 
reasonable.' 

A foreign insurance company exercising franchises and priyileges 
without authority of law, may be ousted by gvo warranto proceed- 
ings.* 

BBCBNT CAflBS HOT BBPOBTBD Dl PULL. 

Iniurance-^ Agreement -^Warehouseman,^ Where one who ships 
tobacco to a warehouseman expressly agrees to carry his own liak, 
that agreement controls, and a custom or warehousemen to insure at 
their own expense tobacco shipped to them does not apply, according 
to the decision of the Kentucky court of appeals in the case of Cottrell 
V, Brannin. 

Inmranee — Ag&nt — Authority — Notice, — The appellate court of 
Indiana held, in the recent case of Criswell e. Riley, that an Insunuice 
company may send a policy to a broker for delivery and still withhold 
from him authority to receive payment of the premium; in which 
event he would not be the company's agent for the purpose, and pay- 
ment to him would not bind the company, provided the assured liad 
notice of his restricted authority. 

Ineuranee—SUiiementt^Mat&rialitff, -—The supreme court of Min- 
nesota held, in the recent case of Ferine v. Grand Lodge of Ancient 
Order of United Workmen of Minnesota, that while statements made 
by an applicant for such membership (a kind of life insurance) in 
answer to questions formallj[ addressed to him in connection with such 
application are representations only and not warranties, yet such 
questions being material the answers thereto, so far as nuitenal, must 
be substantially true or the policy will be avoided, even in the absence 
of fraud, but that an answer given to a material question may be im- 
material and of no effect, even though untrue (in the absence of fraud), 
e, g,, where the fact stated is not of itself material, and is so irrespons- 

• Bmployen Liabilltr Amot. Oor. v. BinplovenLUbUUj Ini. Ca, 16 N. T. S., 807. 

• Indiana Live stock Ins. Ck>. v. Bogeman, SO N, B., 7. 

• Detra v. Kestner (Pa. 8. C.)i 38 A., 89K 

T QUbert v. New Zealand Ins. Co.. 4S Fed. a, 884. 

• Merchants Ins. Co. v. Prince, 68 N. W., 181. 

• State ex ret v. TideUty and Casoalty Co. (Ohio S. 0.;, 81 N. W., 866. 

Digitized by VjOOQIC 



Legislation tjPov Inscbancb in I89d. 175 

ive to the question as to leave that wholly unanswered. The latter 
ruling was made concerning a question asking of what disease the 
mother of the applicant died, and which he answered by saving that he 
did not know, explaining his ignorance by statements which may not 
have been in accordance wilh the facts. The court further held that 
the burden is on the insurer to allege in defense and to prove the un- 
truthfulness of representations made by the applicant. 

Legislation upon Insarance In 1892. Sixteen state and terri- 
torial legislatures were in session during the year. The following is a 
summary of the legislation directly or indirectly affecting insurance: 

DiSTBiCT OF Columbia. Congress in July, 1863, passed the follow- 
ing act, entitled "an act to provide for semi-annual statements by 
foreign corporations doing business in the District of Columbia.^' 
(Chapter 321, laws of 1892): 

Be It enacted by the senate and hoose of repreaentatives of the United States of 
America In oongrees asBembled, That any insarance company, boiiding association or 
companv, hanking company, savings institation, or other company or association 
advertising for or receiving premioms, deposits, or dues for membership, incorporated 



September of each year, a fall statement onder oath, shomnfl; their capital stock and 
the amoant paid in on accoant of the same, assets, llabiUtiee, debts, deposits, dividends, 
and does, as well as their carrent expenses daring six months ending janaary and Joly 
preceding. 

Sbo. S. That any snch company, association, or bistitation failing to pablish stlite- 
mentB as reqaired by the first section of this act shall forfeit its right to do basinese in 
said dlBtrict, and thereapon it shall be the daty of said commLwioners to revoke its 
license or permit it to do bosiness in said district; provided^ That fraternal beneficiary 
aesociationa or societies doing business on the lodge plan and paying death beneflta be 
exempted from the provisions of this act. 

An attempt made by the District Assessor to secure a modification 
of this law by congress at the following session, was not successful. 
An opinion being requested of the attorney of the District Board of 
Commissioners, he decided that the law simply required newspaper 
publication during the months of March and September of each year, 
and did not require a duplicate to be filed with the commissioners. 

Gboboia. During the session a valued-policy bill and a bill enlarg- 
ing the range of securities composing the deposits required by insur- 
ance companies were introduced, and a special committee was also 
api>ointed by the house to consider what changes were desirable in 
the insurance laws, but, without action upon anv of these matters, the 
le^lature adjourned over to October, 1893. All unfinished legislation 
will take precedence of new business when the legislature re-assembles 
to complete the session. 

Iowa. Of a large number of bills affecting insurance, introduced 
during the session, but one of interest to companies having their 
domicils outside the state, became a law. It extended the provisions 
of a law which restricted local casualty companies to one kind of busi- 
ness in the state, to casualty companies of other states and countries. 
A bill subjecting the insurance business to the provisions of the Iowa 
anti-trust law and five valued-policy bills, one of which passed the 
house by a vote of 85 to 10, were among the failures. 

Kbntuckt. The legislature of 1892, beine the first under the new 
ftate constitution, was, with the exception of a short vacation in the 



ltd Lboislatiok trPON Iksuhancb nr 18d!S. 

summer of 1893, in continuous session through that year, and in 1893 
nearly to the time this volume went to press. During this time there 
was much futile legislation, and some that was successful. A bill 
prohibiting writing of Kentucky Are insurance risks except through 
resident agents passed both houses, and was recalled from the gover- 
nor before ha could act upon it, and killed. A revenue bill which was 
vetoed by the governor and passed over the veto, contained a provis- 
ion reducing the tax on gross premium receipts in the state from 24 
per cent, to 2 per cent. A bill regulating corporations contained a 
ciiapter devoted to insurance corporations and revised the laws govern- 
ing them without noaking serious changes, except that an anti-rebate 
life insurance provision was inserted. (Bee Anti-Rebate Laws.) Other 
bills which became laws were: (1.) Authorizing fidelity and guaran- 
tee companies of other states to do business in the state. (2.) Pro- 
viding for the incorporation of county and town cooperative fire in- 
surance associations. (3.) A modified valued-policy law. The full 
text of this is as follows: 

Section 1. That insarance companies tbat take fire or storm risks on real property 
„ this commonwealth shall, on all policies issued after this act takes effect (in case of 
total loss thereof by fire or storm), be liable for the full ratimated value of the property 



in this commonwealth shall, on all policies issued after this act takes effect (in case of 
total loss thereof by fire or storm), be liable for the full ratimated value of the property 
insured as the value thereof is fixed in the face of the policy, and in cases of partial loss 
of the property Insured, the liability of the company shall not exceed the actual loss of 
the party insured; provided, that the estimated value of the property insured may be 



tween t 

be lUble t 

pany be misled thereby. 

The emergency clause not having been attached to this bill it does 
not go into effect until ninety days after the adjournment of the legis- 
lature. 

Louisiana. There was a general insurance bill, an anti-compact 
bill, one requiring each non-state company doing business in the state 
to deposit $100,000 with the state treasurer, and a valued-policy bill; 
but ail failed. 

Mabtlaio}. The successful insurance legislation of the session 
consisted of a modification of the an ti -rebate Taw providing that the 
informer shall receive one-half of the penalty, a law providing for the 
publication of the annual statements of insurance companies in 
counties, and one changing the manner of organizing assessment aaso- 
ciations. An anti-compact bill was introduced but failed. 

Mabsachubbttb. Attention was given throughout the session to 
the endowment assessment concerns, but the latter succeeded finally in 
staving off all legislation designed for their destruction. The bills 
which became laws were: amending the law regulating mutual boiler 
insurance; relating to the taxation of certain accident, fidelity, and 
guaranty companies, and facilitating the closing up of insolvent 
fraternal beneficiary and assessment endowment companies. The text 
of these laws was published in Ths Weekly Underwriter of June 18, 
1892. 

Mississippi. The legislature, which was the first held under the 
new constitution, adopted an entirely new insurance code. This con- 
tained a valued-policy clause and a provision permitting unauthorized 
fire companies to write all the business they can in the state providing 



LttOidLAinoir m>oK Inbitrancb ik 1892. 177 

thej cut the rates of licensed companies at least one-half per cent. An 
attempt to restore the deposit feature of the old law did not succeed. 
The new code in other respects presents no features of importance 
differing from the general insurance laws of other states. 

Nbw Jebsbt. The only insurance bills of interest which became 
laws were: proyiding for a standard fire insurance policy similar in 
form to that adopted by New York and Pennsylyania; amending the 
law taxinj^ certain corporations and amending the act to provide for 
the organization of fire patrols. 

Nkw Yobk. The most important work of the session respecting in- 
surance was the adoption of the new general insurance code. Two 
supplemental insurance laws were pass^, one forbidding the inclusion 
of anv fee or charge in the premium of a fire policy as the considera- 
tion for insurance; the other permitting fire and marine insurance 
companies to do both kinds of insurance m the state. 

Ohio. The first session of the Ohio legislation of 1892-8 closed 
without the passage of any bill affecting insurance companies of other 
states. Only two insurance bills were enacted into laws. One of 
these amended section 8234 of the revised statutes relating to a few 
local fire insurance companies which hold charters granted by the 
legislatures prior to the adoption of the present constitution of the 
state. It requires them to nuike reports to the state insurance depart- 
ment but without affecting their corporate rights. The second bill 
adopted amended section 282 of the revised statutes so as to provide 
that the fees paid for the examination of life insurance companies may 
be used by the superintendent without a special act by the legislature 
making an appropriation. All other insurance bills not acted upon 
were held over to the adjourned session of January, 1898. Among 
these was the Shaw non-forfeiture life insurance bill. 

South Carolina. A bill establishing a state department of insur- 
ance and one requiring a deposit of $25,000 in state bonds by each 
non-state insurance company doing business in the state failed to pass. 
The only successful insurance legislation was the foUowiog bill to tax 
insurance companies, and require a deposit from surety companies as 
follows: 

Section 1. That foreign insarancc companiee of all classes, such as Are, life, 
marine, surety, secarity, gaarantee, hailstorm, live stock, accident, plate glnss and other 
like Invurance companies, foreign land loan associatioim, foreign building and loan 
anociaUons. foreign banking associations, and all other like classes of like business not 
incorporated under the laws of South Carolina, except national banks, and except 
benevolent Institutions organized under the grand loagc nystem, shall each, before 
transacting any business m this state, pay a license fee of one hundred dollars to the 
comptroller-general at the date and time now required by law for insurance companies 
to par license fees. 

Sisc. S. That It shall be unlawful for any one of such foreign companies as are re- 
quired by secUon 1 of this Act to obtain licenses and pay license fees to transact any 
basineea in this state nntil they shall have and keep some dul v appointed resident agent 
in this state, on whom legal process may be served so as to bind the company he repre- 
sents, and service of process upon his agent at his main office shall be sufficient to give 
Juiifldictioa to the court issuing in any county in this state, and every resident agent 
shall retain to the county auditor of each county liis gross reoeipbB from said counties 
for taxation as other property is returned for taxation. 

The law was further amended in reference to surety companies, 
requiring a deposit of (25,000» but only where they undertake to be- 
come surety for the officials of the coimties and state, but it does not 

9 _• .,„__, ^. 



178 LiFB Inbubancb Aogrboatbs IK 1892. 

apply to the business of surety companies in their transactions with 
other citizens of the state. 

Tennessee. March 80, 1892, the attorney-general of Tennessee 
filed an opinion as to the meaning of the taxation section of the revised 
insurance law passed by the legislature in 1891. He held that all for- 
eign corporations doing business in the state must file charters with the 
secretary of state and abstracts in every county in which they do busi- 
ness. Insurance companies, he held, could not be excepted. He 
further decided that the tax of ten and twenty dollars on each agent 
or agency should be paid to the state, and that cities could not Uvy a 
similar tax. 

Texas. There was a special session of the legislature in April, 
during which an anti-trust bill, which included insurance companies 
within its folds, provided for the arrest, extradition, transportaiton to 
and trial in Texas of oflScers and managers of companies which com- 
bined to regulate rates in Texas. The bill did not get through. 

United States Congress. A bill to establish a national bureau 
of insurance supervision was introduced in the house of representa- 
tives by Mr. Pattison of Ohio and referred to the committee on inter- 
state and foreign commerce, where it rested. The full text of the bill 
was printed in The Weekly Underwriter of July 30, 1892. It provided 
for a bureau of insurance in the treasury department under the charge 
of a commissioner of insurance, to be appointed by the president for 
four years, and to receive an annual salary of $5,000. Provision was 
made for deposits by companies with the secretary of the treasury, 
annual statements to the bureau, and the other machinery of super- 
vision BOW exercised by the state insurance departments. The cost of 
maintaining the bureau was to be apportioned among the companies 
according to their assets. 

Vermont. A valued-policy bill and a bill establishing a standard 
fire insurance policy were killed. The only bill passed was one for- 
bidding the writing of fire insurance risks in the state except through 
resident agents. 

Virginia. No bills of interest to other than local insurance com- 
panies became laws in 1892. 

Life Insurance Aggregates In 1892. The report of the New 
York state insurance department for 1893 gave the following totals of 
life insurance business (not including industrial business) transacted in 
1892 bjr companies reporting to the department. The returns cover 
the business of all the large companies of the United States. 

Nnmber of companies, 31 

Groee assets, $903,714,687 

Gross liabilities, except capital, ^. 789,674,017 

Sarplns to policy-holaers, 114,060,690 

Premium receipts in 1802, 180,606,166 

Total receipU in 1892 333,094.908 

Losses paid in 1899, 73,676,867 

Lapsed, sarrendered. and purchased policies, .... 16,668,789 

Dividends to policy-holders in 1892, 14,386,196 

Dividends to stockholders iu 1899, 603,788 

Commissions paid in 1892, 24,461,161 

Salaries and medical fees in 1892, 10,140407 

Toul disbursements in 1893, 163,800,888. 

Policies issued, number, ..•...,. ^^ 348,680 

Digitized by VjOC j^ . ^ 



tilFB tKBTJBAKCB ASSOCIATION OF NbW ToRK. 179 

Policlw luaed, amount. $947,804,388 

Policiei In force, D«c 81, 1893, namber, 1,68S,819 

Polieiee in force, Dec 81, 1892, amoaut, $4,199,444,897 

See also "Industrial Life Insurance Business," which is not in- 
cluded in the above. 

▲SSESSMBNT BUSINESS. 

Number of aaeociationa, 109 

Total receipts in 1899, 91,809,469 

Paid for clainui, 14,199.587 

Paid for expeneea 6,764,419 

Total dSBborsements 19,876,949 

Number of policies written 966,886 

Namber of policies in force December 81, 649,648 

niATBBNAL BINIFIOIABT SOCIXTISB. 

Number of societies 88 

Total receipts in 1899, $99,881,696 

Paid for claims, 91,017,816 

Paid for expenses, 1,041,289 

Total disboTsements, »,088,664 

Namber of policies written, 186,157 

Number of policies in force December 81, 849,688 

For Other statistics regarding assessment (mutual life and accident 
underwriters) and fraternal societies see those subjects and also 
appendix. 

Life Insnranee Association of New Jersey was organized at 
Newark June 28, 1892, with the following officers: President, Edward 
Sill of the National Life of Vermont; vice-presidents, 0. D. Paul of 
the Northwestern Mutual, and A. W. Braj of the Massachusetts 
Mutual ; secretair, George F. Hadley of the Brooklyn Life; treasurer, 
J. S. Edwards of the New York Life. The present officers and ex- 
ecutive committee, who were elected at the annual meeting in Febru- 
ary, 1898, are as follows : President, A. W. Bray of the Massachusetts 
Mutual; first vice-president, Geo. B. Raymond, of the Mutual Life; 
second vice-president, J. Wm. Campbell of the Equitable; third vice- 
president, T. G. Conway of thePenn Mutual; secretary, L. W. Fris- 
bee of the Prudential; treasurer, Geo. H. Simonds of the Home; 
executive committee, Geo. F. Hadley, chairman, Brooklyn Life; C. 
D. Paul of the Northwestern; C. C. Herrick of the .astna; Geo. W. 
Willis of the New England. 

Life Insnranee Association of New York was organized in the 
city of New York January 18, 1887, the first officers being Charles H. 
Raymond of the Mutual Life, president; Gilford Morse of the Massa- 
chusetts Mutual, first vice-president; L. Spencer Goble of the Mutual 
Benefit, second vice-president; Alvah W. Brown of the Mutual Life, 
third vice-president; Charles T. Dun well of the Berkshire Life, secre- 
tary; George F. Hadley of the Brooklyn Life, treasurer. 

The presidents since organization have been: 1887, Charles H. 
Raymond of the Mutual Life; 1889, L. Spencer Goble of the Mutual 
Benefit; 1890, Gilford Morse of the Massachusetts Mutual; 1891, 
Georro P. Haskell of the New York Life; 1892, Tilden Blodgett of 
the Equitable Life; 1893, George F. Hadley of the Brooklyn Life. 

The officers elected at the annual meeting in 1892 were: Tilden 
Blodgett, president; Julius F. Gerow, first vice-president; Robert L 
Murray, second vice-president; A. L. Grabf elder, third vice-president; 
Ezra De Forest, treasurer; W. M. Datesman, secretary. 



ogle 



^i 



ISO LtFB ttrsCRANCS ClRA^RIKO CoMtPAKT. 

The present officers, elected at the anDual meeting February 38, 
_93, are : George F. Hadley, president; Byron A. .^als, first vice- 
president; C. M. Marvin, second vice-president; Moses Steams, third 
vice-president; William H. Smith, secretary; Ezra De Forest, treas- 
urer; Tilden Blodgett, Charles H. Raymond, George P. Haskell, and 
William Ratcliffe, executive committtee. 

Life Insurance Association of Tennessee and Alabama was 
organized at Chattanooga, Tenn. , November 17, 1891. The first officers 
t,5l were: Thomas Peters of the Washington Life, president; Jonathan 

r^/ V W. Jackson, vice-president for Tennessee, C. V. LeCraw, vioe-preai- 
/L- dent for Alabama, Lucius D. Drewry, secretary. 

' The first annual meeting was held at Nashville, April 27, 1892. 

Amendments were made to the constitution and by-laws, the most im- 
portant of which provided that no memlner of the association shall 
employ an agent already under contract with another member, or so long 
as the agent remains indebted to a member for any advance on accouot 
of commissions on business secured or to be secured or premiums col- 
lected, withheld, or appropriated, or for any act of dishonesty; also 
that where an agent violates his contract and breaks faith with a 
member the latter shall notify the secretary, who at once shall warn all 
members against the person. Officers were elected as follows: 
Thomas Peters, president; John B. Pirtle and P. T. Throop, vice- 
presidents; C. V. LeCraw, secretary; L. D. Drewry, treasurer. 

Life Insurance Association of the Garollnas was organized 
at Columbia, S. C, in November, 1890, agents from North and South 
Carolina uniting in the organization. J. D. Church of Charlotte was 
elected president; J. C. Drewry and W. J. Roddy, vice-presidents; S. 
L. Adams of Durham, North Carolina, secretary and treasurer. The 
present officers of the association who were elected at the annual 
meeting held at Rock Hill, N. C, January 20, 1893, are: PresidenC, 
J. C. Drewry; vice-president for North Carolina, H. H. Lane; vice- 
president for South Carolina, W. M. Hutson; secretary, J. L. Adams; 
treasurer, J. S. Coles, Jr. ; executive committee, W. J. Roddy (chair- 
man), Walter Breur, William Russ, R. J. filalock, and J. R. Einnsey. 

Life Insurance by the State was advocated by Edward BeHamy's 
paper, the New Nati&n, in November, 1892. The writer said : 

Meanwhile, howeTer, there \b a great need for some sort of insaranoe system which 
shall, without recogDizlng classes, furnish the cheapest possible sort of safe piovisum 
for old age and the support of families after death of bread winners. This provifiloii 
can. for the present, best be found in state life insurance, which, on a strictly bnainees 
basis (and the whole scheme of nationalism is on a strictly business basis), will brin^ 
absolutely safe insurance within the reach of all insurable persons at one-third what 
private companies now charge. The American workingmau should, and we believe 
will, demtina his rights, not as a member of a class but as a member of a nation, not as a 
worKiugman but as a citizen. The private life insurance companies here, as well as in 
Europe and Qr^t Britiiin, would like nothing better than to get the public interested In 
these public charitable pension schemes, which would brand cheap insurance as an 
eleemosynary sort of thing not at all in the same category with sound business. Thla. 
however, cannot be permitted. Cheap life insurance 7s good business and need not de- 
pend on state aid or special favors of any sort. Let us have state life insoiaiwe. 
Let us have insurance that will be at once sure and cheap, instead of the utide fur- 
nished by the private insurance companies, which is at once dear and donbtfnl. 

Life Insurance Clearing company of St. Paul, Minn., began 
business March 24, 1892, the date of its license by the Minnesota in- 
surance department. The purpose of this company is the insurance 



LiFB Iksubaitce Policisb Not Taebn. 



181 



of perdODS who, either from personal defect or hereditary disposition 
fall below the average standard of health or insurableness recognized 
by life insurance companies in general. It does not include, however, 
those who are in bad health or actually afflicted with an incurable 
disease. The plan upon which the company operates was devised by 
L. G. Fouse of Philadelphia. 

Life Insurance Companies, American, Foreign Baslness of. 
[See Foreign Business.] 

Life Insurance Company of Minneapolis filed articles of in- 
corporation at St. Paul, Minn. , June 25, 1892, the capital to be $100,000. 
The board of directors was composed of the following persons: John 
S. Pilsburv. ex-Governor A. R. McGill, 0. M. Loriner, E. C. Babb, T. 
B. Walker, E. M. Mabie, F. L. Gilbert, Carman N. Smith, A. M. 
Allen, George F. Roberts, W F. Ustick, Emerson C« le, W. M. Tenny, 
and F. G. James of Minneapolis, and Walter S. Miinor of Excelsior, 
Minn. 

Life Insnrance, Effects of Selection In. [See Selection, Life 
Insurance.] 

Life Insnrance in the Courts. [See Legal Decisions AJtecting 
Insurance.] 

Life Insnrance Policies. [See Policy Forms, Life.] 

Life Insurance Policies Not Taken. The following is a tabu- 
lated btatement of the amount of business written by each life insur- 
ance company in 1892, which was not taken by those for whom pol- 
icies were issued: 



Compaoiefi. 



Mtna, $ 

Bankers 

Berkshire 

Brooklyn 

Citizens 

C'ommercial Alliance 
Connecticut General. 
Connecticut Mataal. . , 
( 'ovenant Mntnal . . . . 

PCqnitable, Iowa I 

Equitable, New York 

(;«rmania 

Home Life 

John Hancock 

Kansas Mataal 

Lire Indem. & Invest. 
Life Ins. Clearing.... 

Manhattan 

Maryland 

Mass. Mutual 

Metropolitan 

Michigan Mutual .... 
Muto^, Baltimore... 
Mutual, Kentucky. . . 



Policies 
written. 
Amount. 



Policies 
not taken. 
Amount I 



Companies. 



25,471,104 
1,004,150 
8,716,696 
1,006,889 
420,408 
7,537,120 
2,106,4.38 

12,275,024 

1,617,975 

1,667,806 

200,490,8161 

12,685,479! 

12,784,403' 
8,433,090 
2,340,0001 
4,189,94! 
2,955,000 

14,1»1,560 
1,428,241 

30,462,188 

2,002,641 

8,319,7671 

256,307 

1,968,850 



$5,095,696' 

193,250 

1,607,5001 

110,000' 

43,200 

585,260 

408,000; 

684,000 

94,336 

68,600 

89,252,168 

1,117,846 

2,164,0001 

441,500; 

8,000 

841,000 

1,504,600 

3,999,057 

123,000 

3,169,100 

26,000 

619,440 

6,000 

221,200 



Mutual, New York.S 

Mutual Benefit 

National, Vermont.. 

New England 

New York Life... 
Northwestern .... 
Pacific Mutual.... 

Penn Mutual 

Phoenix Mutual... 
Provid't Life & Trust 
Provident Savings. . . 

Prudential 

Royal Union 

State Mutual 

Travelers 

Union Central 

Union Life 

Union Mutual 

United States 

Vermont 

Washington 



Total $ 



Policies 
written. 
Amount. 



Policies 

not taken. 

Amount. 



162,929,748 
30,623,721 
1"H77,t7S 

1^ 'Muiae 

r.-^i'iij C70 
;ii..4r4,8Rfl 

:;.■!. f',6in 
■j'.i.^i.i r> 

ltt,&l7,5]ri 
0,ti80JX<7) 



M,M5,74: 






»,087,688 

1,S17.500 

S4,3nfi,S0S 

8,043.712 

lissSoTS 

836,500 

1,712,000 

862,000 

28,000 

773,500 

8,308,248 

4,404,284 

77,.500 

1,182,900 

2,058,600 

70,500 

2,088,540 



it<J,&15,345 168,570,645 



The percentage of i^ot taken business to total busiuess written was t 
174. ^. > Ogle 



183 LiFB Undbrwrttbrb Association, Distbict of Columbia. 

Lift Insaranee ; Proofs of Death. All life iosurance comptLiiiee 
require proofs of death on tiieir owq blanks, which will be furnished 
on application. These consist, in most cases, of certlflcates of the 
claimant as to fact and causes of death, certificate of attending 
physician, certificate of friend as to identity, certificate of undertaker 
or clergyman, or copy of record of burial. These certificates must be 
sworn to and in some cases attested by seal of a court of record. The 
object of these various certificates is to establish the identity of de- 
cease with the assured, and to make sure of the fact of death. Aa 
these several requirements are substantially alike, and as each com- 
pany's blanks are to be used, the details in each case seem unnecessary 
. in a work of this kind. 

Life Insurance Solicitors, Association of. [See Association of 
Life Insurance Solicitors.] 

Life Underwritors' Association of Chicago was organized 
January 15, 1889, the initial meeting looking towaid the formation of 
the association being held December 7, 1888. 

The original oflScers were: J. W. Janney, president; A. L. Chet- 

lain, first vice-president; W. 8. Swymmer, second vice-president; 

John H. Nolan, secretary; L. A. Spicer, treasurer. The present 

officers, who were elected at the annual meeting February 21, 1893, 

are John K. Steams, president; William A. Newell, George F. 

^ Schillinff, vice-presidents; Lawrence A. Spicer, secretary; Charles A. 

ClU Weidenfeller, treasurer; Ben Williams, W. D. Wyman, 8. L. Fuller, 

I 1 \ Ira J. Mason, and Charles H. Ferguson, executive committee. 

^'Vl 4- ^''^ Underwriters Association of Columbus, Oa., was organized 

^ I ' in July, 1892, with G. G. Miles as president; D. F. Wilcox, vice- 
y^ president; and M. J. Moses, secretary. 

Life Underwriters Association of Eastern New York was 

organized at Albany, N. Y., in September, 1891, with D. L. Boardman 
of Troy as president; W. H. Haskell of Albany, first vice-president; 
D. H. Baker of Troy, second vice-president; J. Allen of Troy, secre- 
tary; and H. S. Bull of Albany, treasurer. The present president is 
D. H. Ayers of Albany, and the secretary is J. O. Barnes, also of 
Albany. 

Life Underwriters As80cla(ionS>f Kentucky was organized 
August 29, 1892, at the office of the Louisville Insurance Herald, with 
the following officers: President, Charles D. Jacob, president Mueaai 
Life of Kentucky; first vice-president, T. A. Lyon, manager Equitable 
Life; second vice-president, A. S. Willis, president Sun Life of Ken- 
tucky; secreta^, James B. Gwathmey, manager United States Life; 
treasurer, M. M. Casseday, general agent National Life of Vermont. 

Life Underwriters Association of liOnlsiana was organized at 
New Orleans, December 10, 1891. the officers being T. H. Bowles, 
president; John G. Aiken, vice-president; and W. TT Wheeler, secre- 
taiT and treasurer. The present officers are T. H. Bowles, president, 
ana W. R. Haile, secretary. 

Life Underwriters Association of the District of Colnmbla 

was organized November 29, 1890, the officers being Thomas P. 
Morgan, Jr., president; James S. Jordan, vicej)re8ident ; H. H. Berg- 
mann, treasurer; M. H. Acheson, secretary. The present president ia 



LiTCHFiBLD, Edward. 183 

Thomas P. Morgan, Jr., and Becretary Frank E. Raymond, both of 
Washington. 

Life UnderwiiterB Association of Western New Yorlc was 

organized in 1886, the original officers being: William G. Justice, 
president; Joseph W. Pressey, first vice-president; William H. 
Formosa, second vice-president; William Manning, secretary; Ralph 
Butler, treasurer. The present officers, who were elected at the annual 
meeting held at Rochester, April 1, 1893, are: W. G. Justice of the 
Provident Life & Trust, presiaent; Henry Wertimer of the Prudential 
Life, first vice-president; A. B. Abernethy of the Phoenix Mutual, 
second vice-president; William Manning of the United States Life, 
secretary and treasurer; H. 8. Munson of the MintL, J. W. Pressev 
of the Penn Mutual, M. D. L. Hayes of the Northwestern, W. G. 
Btaniland of the Metropolitan, Warren Craig of the John Hancock, 
executive committee. 

Life Underwriters Associations. |Tor a list of local associations 
composing the National Association of Life Underwriters, see National 
Association.] 

OBNSRAL OROANIZATI0N8 OF LIFE UNDERWRITBRS. 

ActQAiial Society of America. 

American Faculty of Actuaries (ameMment). 

AMOclatioD of Lue Insurance Medical Directors of America. 

International Association of Accident Underwriters (assessment). 

Mutual Life and Accident Underwriters of America (asKessment). 

National Fraternal Congress (Fraternal Beneficiary Orders). 

National Association of Life Underwriters. 

Life Underwriters, National Association of. [See National 
Association of Life Underwriters.] 

Linehan, John G«, insurance commissioner of New Hampshire, 
was born at Macroom, County Cork, Ireland, February 9, 1840. He 
served through the war in the Union army, coming out with a colonel's 
commission, and was a merchant at Penacook, N. H., from 1866 to 
1890. when be was appointed insurance commissioner. Col. Linehan 
has been in both branches of the Concord city government, and was a 
member of the governor's executive council one term. He was elected 
president of the National convention of insurance department com- 
missioners at the meeting in 1892. The degree of A.M. has been con- 
ferred on Col. LiDchan by Dartmouth college. 

^^ Lippiucott, Henry G., manager of agencies for the Penn Mutual 
Life insurance company, was bom at Philadelphia, Pa., April 12, 1844. 
He is a graduate of the Central High School of that city. In Majr, 
1865, be was admitted to the Philadelphia bar and practiced law until 
1869, when he removed to Colorado, where he taught school, mined, 
wrote for the newspapers, and hustled generally. He found his true 
vocation in life insurance, to which he has devoted the remainder of his 
life. He entered the office of the Penn Mutual, February 1, 1874, and 
served in various capacities until he was appointed manager of agencies 
in January, 1889. 

Litchfield, £dward, resident United States manager for the Lan- 
cashire insurance company, was born on the island of Jamaica in 1845. 
Qe received his education in England and entered the office of the 



Digitized by 



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184 LlVSBPOOL AHD LOHDON AND GlOBB IhSITRAKCB CoMPAKT. 

Liverpool and London and Globe in 1864 and renudned there fourteen 
years as clerk in the foreign department. Subsequentlj he was chicsf 
secretary of the Scottish Commercial of Glasgow, then sub-manager in 
the United States from 1880 to 1884, when he was advanced to the 
managership. Mr. Litchfield is an ardent American citizen and took 
part with zoed in the political campaign in New York in the autumn 
of 1892. 

Lltchfleldy George A., president of the Massachusetts Benefit 
Association of Boston, was bom at Scituate, Mass., and prepared him- 
self for college largely by studying while at work upon a shoemaker's 
bench. He was two years at Brown University and resided in 1861 
to enter the ministry at Winchendon, Mass. Ill health forced him to 
abandon a professional career in 1866, and subsequently he represented 
a large life insurance company several years in western Massachusetts. 
In 1872 he became partner in the large tack manufacturing firm of 
Brigbam» Litchflel^ & Yinin^. at Whitman, Mass. Seven years later 
he sold his interest in the business to devote himself wholly to the pro- 
motion of the Massachusetts Benefit, of which he was the founder and 
which under his management has become one of the largest assessment 
companies of the country. [See Massachusetts BenefltJ 

Lirerpool and London and Globe insurance company of Liver- 
pool. Mr. George Orooke of Crooke & Warren, resident secretaries of 
the western department at Chicago, retired from the firm December 
31, 1892, after twenty years' service for the company. His associate, 
William S. Warren, was appointed sole secretarv, with George H. 
Moore (who had been Michigan state agent), and John V. Thomas 
(who had been Illinois state agent), as assistant secretaries. 

The Liverpool and London and Globe was granted its original deed 
of settlement May 21, and began business June 1, 1886, the name at 
the beginning being '*The Liverpool insurance company." In 1848, 
the title was chang^ to ** The Liverpool and London insurance com- 
pany." on account of the success experienced by the company in the 
British metropolis. When the business of the Globe insurance com- 
pany was absorbed in 1864, the title became "The Liverpool and Lon- 
don and Globe insurance company." The deed of settlement author- 
ized the transaction of fire and life insurance, both lines beins con- 
ducted by the company in Great Britain. Its operations in the United 
States have been restricted to a regular fire business since 1882. For 
nearly twenty years prior to that time the company carried on a life 
business here and the deposit of $100,000 with the r^ew York depart- 
ment for the ben( fit of policy-holders is still presented in the annua] 
reports of the superintendent of insurance. The company's first agency 
in the United States was established in 1848. The first board of direc- 
tors in New York was organized in 1851. Alfred Pell, who had 
represented the company in r^ew York from the beginning of its buai. 
ness in 1848 was appointed resident secretary. Regular fire insurance 
was the original line of business adopted. In 1851, agencies were es- 
tablished at Philadelphia and at other important points. The net fire 
premiums during the first year of the company's operations in the United 
States amounted to $4,519. In 1878, the net premiums aggregated 
|2,422,126. The loss experienced in th9 Chicago confiagration hj th^ 



Llotdb. 185 

Liyerpool and London and Globe was $8»239,091, and in the Boston 
fire in 1873, $1.427, 390, and all these claims were promptly paid. 

In 1871, J. E. Pulsford was appointed resident secretary, succeeding 
Alfred Pell, who became the manager of the company's business in the 
United States in 1848. Mr. Pulsford remained in control until June 
10, 1887, when he resigned on account of advanced years. The com- 
pany appointed him a member of the New York board of trustees and 
made provision for his old age as testimony of its appreciation of his 
past services and respect for bim personally. Henry W. Eaton was 
appointed resident manaeer, being advanced from the position of 
deputy under Manager Pulsford, and has since been in charge of the 
company's operations in the United States. George W. Hoyt is the 
deputy manager under Mr. Eaton. The resident secretaries are : 
Chicago office, William S. Warren; San Francisco office, Charles D. 
Haven; and New Orleans office, Heniy V. Ogden, secretary, and 
Clarence F. Low, assistant. The general agents are J. M. De Camp, 
Cincinnati, Ohio; Davenport & Co., Richmond, Virginia; and Wood 
& Van Sam, Newark, New Jereey. The present New York board, 
officiaUy representing the company, consists of Charles H. Marshall, 
chairman, John A. Stewart, James E. Pulsford, John Crosby Brown, 
Edmund D. Randolph. During the forty-five years in which the com- 
pany has been engaged in business in the United States it has received 
here $98,318,837 in premiums, and disbursed $56,241,538 on account 
of fire losses. The net cash premiums received in 1892 amounted to 
$6,893,150. The aggregate cash income for the year was $5,649,779; 
aggrregate expenditures, $6,089,157. The amount of insurance in force 
December 8, 1893, was $826,809,934. The total asseto of the United 
States branch of the company were $8,198,034. 

Lloyds. Although combinations of individual underwriters have 
not been unknown in New York, Philadelphia, and Baltimore for sev- 
eral years, this form of insurance did not come into prominence in the 
United States until 1893. During the year there was a sudden and 
rapid development of the principle, applied not only to fire and marine, 
but also to accident, surety, and emplojrers liability business. The 
Lloyds is the oldest and simplest form of insurance. A number of in- 
dividuals make a fixed deposit and agree to hold themselves liable, in 
addition, for a limited sum of money to insure against loss to a speci- 
fied object. An "attorney" is appointed to conduct the business. 
The advantages which promoters of these organizations claim for them 
are, a minimum of expense, simplicity of administration, the non-re- 
quirement of a reserve, and, in most states, exemption from taxes and 
government supervision. Consequently in competing for business 
they can undersell the stock companies. The following is a partial 
list of organizations of Lloyds operating at the time this volume is 
ready for the press : 

AMQranoe Lloyds of America, office at New York, Beecher, Schenck A Co., attor- 
neys. One hondrea individual snbecribera deposited |6,000 each, thnsconstitating a cash 
fund of $600,000, and hold themselves liable further for $10,000 each, thas providing 
iecarity for $1,000,000 in addition. Maxlmam lines are $100,000 each. Business writ- 
ten, bonided warehouses, mercantile and mannfactaring risks, with or without the au- 
tomatic sprinkler. Insurance against loss by fire and water damage resulting therefrom. 

Commercial Lloyds of New York; insures against flre. Thompson A Bellows, 
attorney p. 

Equitable Lloyds of New York, lire insurance. ^ , 

9* Digitized by CjOOgle 



186 LooKKB, OaOAB R. 

Goarantoro of Philadelphia, Loper & Dooghton, attorneys ; goarantee fnnd, $100,- 
000 ; emplojera liability, steam boiler, and elevator insurance. 

Ooarantee and Accident Uoyds of New York^ William D. Chase, attorn^. Ow 
hundred subscribers of $1,000 each ; biislDess. steam boiler, employers liabilltr, and 
eleyator insurance. This organization does business in several states without a license 
and without molestation, but its application for a license in Ohio was refused by the 
insurance department, on the ground that the laws of the state did not provide for th« 
transaction of business in it by companies of this character. An action instituted bj 
the company in mandamus against the department to compel it to issue a license to tbe 
company, was decided by the supreme court in favor of the department. In Missouri 
the insurance superintendent bqj^an a suit to punish the company for operating in the 
state withont a license. 

Individual Underwriters, New York, for lire Insaranoe. 

Mercantile Lloyds of New York, to write both sprinkled and unsprinkled tire insur- 
ance risks. Durbrow A Barl>onr, attorneys. 

Mutual Fire Lloyds of New York writes on first class mercantile and mannfactur- 
ing risks. Office, 47 Cedar street, New York. 

New York Central Fire Insurance, Lloyds, J. W. Fitagerald, attorney. W Pine 
street. New York. 

North American Lloyds of New York. Office, No. 116 Broadway. The Bubscribern 
are large dry goods and general retail merchants, like Macy, and write only their own 
risks. 

Underwriters at American Lloyds (commonly called the American Lloyds) writes 
sprinkled property only. It has forty-flve subscribers. George A. Stanton, attorney. 

United States Lloyds of New York, marine business only. 

Local Fire Underwriters Association of TlrgrlniA was organ- 
ized at Richmond, Va., June 22, 1892, by a large number of agents 
who had asBembled to protest against the action of the South Eastern 
Tariff Association requiring them to accept fifteen per cent, commis- 
sion [see Virginia Fire Insurance Agents Protest]. The following offi- 
cers were elected: President, T. L. Alfriend, Richmond; secretary 
and treasurer, Williamson Tolley, Richmond; vice-presidents, H. Ker, 
Staunton; A. C. Humphreys, Norfolk; P. H. Hansbrough, Winchester; 
J. M. Otey, Lynchburg; A. D. Warfleld, Alexandria; executive com- 
Mttee, Messrs. Davis of Lynchburg, Swineford of Richmond, Crutch- 
field of Predericksburj^, Royal! of Manchester, Moyler of Petenburgh. 
Dn Puy of Roanoke, Bemple of Hampton, Watson of Portsmouth, and 
Dance of Danville. 

London Assnrance Corporation. George H. Marks, manager for 
the United States, resigned m December, 189l3, to assume a position in 
the home office at London, and was succeeded as manager by Charles 
L. Case, the western manager for the company, who removed from 
Chicago to the New York office. 

London Gnarantee and Accident company entered the United 
States in 1892, to do a surety and accident insurance business, and 
established its headquarters at Chicago, with A. C. Edwards, late of 
Halifax, N. S., as United States manager. C. E. Waits, a^ncy 
superintendent of the Fidelity and Casualty company, was appointed 
assistant manager. The company, in October, deposited $200,000 
with the New York state insurance department. 

Looker, Oscar K«, president of the Michigan Mutual Life insur- 
ance company, was born at Columbus, 0., June 19, 1846, and passed 
his boyhood upon a farm near that city. Although but sixteen years 
of age at the time the civil war broke out, he enlisted in the Union 
army and served throughout the entire war. After its close, he studied 
law at Columbus, but, m 1869. he became an insurance solicitor in the 
Cleveland office of the Berkshire Life. In 1871 he joined the staff of 



Lob Anoelbs Lifs Undbbwritbbb Association. 187 

the Michigan Mutual Life at its home office in Detroit, and in 1883 was 
appointed secretary and general manager of the company. Mr. Looker 
was elected president in 1892. [See Michigan Mutual Life.] 

Losee* Alanson F., secretary of the United States branch of the 
Norwich Union Fire at New York, was born in that city October 2, 
1853. At the age of eighteen years he entered an agency office in New 
York, and, in 1873, received the appointment of cashier with Frame, 
Hare & Lockwood. He has served the Norwich Union since it entered 
that office, first as chief clerk from 1 881 , and as branch secretary from 1887. 

Loaisiana Life Underwriters Association. [See Life Under- 
writers Association of Louisiana.] 

Lonisiana State Board of Fire Underwriters. At a meeting of 
representatives of forty- one companies, held at New Orleans on 
February 26, 1892, the board was re-organized with the following 
officers: President, J. B. Herreford; vice-president, W. B. Lyman; 
secretary, (Jeo. Mather. Executive committee: G. H. Frost, Clarence 
F. Low, Thomas Egleston, J. C. Whitner, and Thomas Sefton. It 
was resolved at this meeting to applj to the South Eastern Tariff 
Association for admission. The association, at its annual meeting at 
Washington, D. C, March 17, following, having admitted Louisiana 
to membership, the board hecAme functua officio . 

Lonisrille Business Men's Insurance Biirean was organized by 
certain merchants of Louisville, Ey., in July, 1892, in antagonism to 
the insurance companies doing business in tliat city. The executive 
committee of the bureau was given power *'to open correspondence 
with brokers, agents, and companies elsewhere, and to offer large 
amounts of insurance at reasonable rates and on satisfactory terms. '% 
The bureau was to be a purchaser of insurance wherever it could obtaid 
it, and local agents might compete for the bureau's offerings or not, as 
they chose. A great deal of noise was made about the organization 
in the Louisville daily papers, which predicted the destruction of the 
business of the local agents. The bureau did a little business, but the 
lar^r merchants continued to employ the licensed insurance companies, 
and the movement appears to have died out before the spring of 1893, 
without accomplishing anything. 

LonfsTille German! a insurance company of Louisville, Ky , in 
September, 1892, re-insured all its risks in the Phenix of Brooklyn, and 
went into liquidation. The Louisville Oermania was organized and 
began business in 1872, and was always a conservative and carefully 
managed company. It confined itself to local business. 

Lonisiana, Insurance Superyisiou in : The Secretary of State 
is charged with the supenrision of insurance interests in Louisiana, 
the department headquarters being at New Orleans in charge of the 
assistant secretary. Prior to 1879 the duties of the supervisor were 
performed by the secretary of state. The assistant secretaries who 
have been detailed for the work of the department in New Orleans 
have been Simeon Toby, who had charge from 1884 until 1891, and 
William B. Spencer. The latter was appointed Mr. Toby's successor 
in October, 1891. 

Los Angeles Life Underwriters Association was organized in 
June, 1891, and the following year changed its name to the Southern 



■^ 



188 Macdonald, William 

California Life Underwriters AjBsociation. F. B. Bickford was presi- 
dent, and F. B. Manchester secretary and treasurer. This organiza- 
tion appears to be inactive at present. 

Lnpei% George B., insurance commissioner of Pennsylvania, "wras 
bom at Harmonsburg, Pa.. October 13, 1852. His earliest vocation 
was that of a teacher, and he was also secretary of an insurance com- 
pany. He was two years a clerk in the office of the secretary of state, 
six years deputy insurance commissioner, and succeeded Mr. Forster^ 
as commissioner, in 1891. Mr. Luper was president of the convention 
of insurance department officials in 1891-92. 

Lyman, William R., president of the Crescent insurance company 
of New Orleans, La., was born at Lyons, New York, July 2, 1888. 
At the age of sixteen he went to Chicago, 111., to become casliier 
of a large business firm. He returned East three years later to enter 
Harvard college, from which he was graduated in 1860. He studied 
law at the University of Virginia, but left that .institution to talce 
part in the civil war as an officer of a Virgioia regiment on tlie 
Confederate side. Mr. Lyman came out of the conflict with a captain's 
commission, having seen a good deal of sharp service in earning it. 
He settled in New Orleans, La., in business, and in 1879 became 
president of the Crescent. He has filled many honorable positions in 
the city of his adoption as well as in the South, was president for two 
terms of the Underwriters' Association of the South, and was the firbt 
president of the New Orleans Stock Exchange. 

M 

Macdonald, James A., president of the Queen insurance company 
of America, of New York, was born in New York about fifty yean 
ago, and is the son of Dr. Macdonald, the distinguished alienist. He 
was educated at Columbia College and the Sheffield Scientific Bcliool 
of Yale University. His insurance experience began in the office of 
the Phenix of Brooklyn, and he was its Brooklyn local manager in 
March, 1881, when he received the appointment of United States 
Manager for the Queen of Liverpool. When the New York company, 
which absorbed the United States business of the English company, 
was organized, Mr. Macdonald became its president. 
^ Macdonald, William, manager of the London and Lancasliire 
insurance company, for the Pacific Coast, was born in the city of New 
York, Januarjr 31, 1888. He began business life in a New York 
dry geods jobbing house, but in 1856 removed to California. In 1867 
he was appointed local agent of the Minti and Phcenix of Hartford in 
San Francisco, and a year later special agent for the former company. 
He has been surveyor of the Board of Fire Underwriters of San 
Francisco, special agent and adjuster for several companies, and 
in 1888 was elected vice-president of the Anglo Nevaaa. On tlie 
re-insurance of the Pacific Coast business of that company with the 
London & Lancashire, Mr. Macdonald was made the Pacific Coast 
manager for the latter. Before entering the insurance business, Mr. 
Macdonald was secretary of the San Francisco & Oakland Railroad, 
now a part of the Central Pacific. He is colonel of the Second R^- 
ment of Artillery in the National Quard of California. 



MANAasBB^ Dbpabtmbnt. 189 

Magill, Arthur E., general agent of the Home of New York, and 
Phoenix of Hartford for the Pacific Coast, was bom November 18, 
1849, in Hamilton, Canada. At the age of sixteen, in 1858, he entered 
the office of the Phcenix in Cincinnati, of which his father was the 
manager. From 1861 to 1864 he was in the army, from which he 
emerged with a captain's commission. He moved to California and in 
1874 succeeded R. H. Ma^I as general agent of the Home and 
Phoenix. When the first compact on the Pacific Coast, the Portland 
Compact Association, was organized, Mr. Magill was elected its presi- 
dent. In May, 1887, he was elected president of the Pacific Insurance 
Union, and since then has been annually re-elected. 

Maine Ingnrance Report for 1892. The twenty -fourth annual 
report of the insurance commissioner of Maine stated that two fire 
companies, the Queen of New York and Mercantile Fire and Marine 
of Boston had been admitted to the state during the previous year and 
there had been no change in the list of regular life companies. The 
commissioner made a number of recommendations for amendments to 
the insurance laws of the state. Among these was a suggestion that 
agents and solicitors of industrial life insurance companies be held 
personally responsible for misrepresentations to policy-holders. Other 
recommendations were as follows: 

The Mwcflgmcnt law shoald be amended bo that funds derived from assessments 
made to pay death benefits or casualty indemnity may in no event be used for general 
expenses. The provision in r^ard to the reserve or emergency fund should be 
amended so that, if at the end of anv year that fund in the treapiirv does not equal 
the amount of one assessment upon all the policy-holders, it shall within t^velve months 
be broDght up to this standaro. The law allowing fraternal societies until April 1 
to make returns should be amended making the limit March 1. The commissioner 
belleyes the time has come for the adoption of a standard policy for Maine fire 
underwriting. 

The taxes paid to the state by insurance companies in 1891 
amounted to $81,975, and fees to $9,276. 

Maine Life Underwriters* Association. At the annual meeting 
at Portland, February 2, 1892, the following officers were elected: 
J. W. Pitzpatrick of the Mutual Life, president; J. B. Brackett of the 
Washington, C. P. Dunlap of the Mutual Benefit, and A. G. Dewey 
of the iEtna, vice-presidents; George P. Dewey of the National of 
Vermont, secretary. The present president, who was elected at the 
annual meeting in February, 1898, is J. B. Brackett of the Wash- 
ington Life, and George P. Dewey of the National continues as 
secretary. 

Maine, Insurance Sapenrision in, 1868-1893. The insurance 
department in Maine was organized by act of the legislature in 1868, 
the chief official being the insuraoce commissioner, who is appointed 
by the governor for three years. The following is a list of these 
officials to date. 



Oramandal Smith, 1883-1884 

Frank E. Nye, 1884-1885 

Joseph O. Smith, 1885- 



Albert W. Paine, 1868-1878 

Joahua Nye, 1873-1879 

WUliani Phllbrick. 1879-1880 

Joeeph B. Peaks, 1880-1883 

Commissioner Smith, who has served since 1885, was reappointed 
for a third term of three years in January, 1892. Charles W. Fletcher 
is clerk of the department. 

Managers, Department [See Agents, General. 1^,^^^^^ ^^ Google 



190 Manchbstbii Fire Ihsurancb CoMPAirr. 

Manchester Fire assurance company of Manchester, England, 
was incorporated and began business in 1824. The subscribed capital 
is £1,500,000. In 1890, the company issued 25,000 new shares, with 
£2 paid-up. at a premium of £4 per share. The customair dividend 
paid by the Manchester is 10 per cent. The company does a fire 
business only. The present trustees are James Chadwick, also chair- 
man of the board of directors, C. W. Farbridge, Charles T. Drabble, 
and Thomas Barham Foster, deputy chairman of the directorate; aod 
associated with Messrs. Chadwick and Foster as directors, are George 
Reynolds Davies, Charles T. Drabble, James Eckersley, C. W. Far- 
bridge, Alfred Neild. and Frederick Sails Bchwabe. J. B. Moffat is 
the manager and secretary. He was appointed in 1889, succeeding 
James Broomfleld Northcott, who was manager when the compaoy 
was originally admitted to the United States in 1880. beginning opera- 
tions in California, April 22 of that year. The Manchester at first 
restricted its transactions to the Pacific Coast. It was admitted by 
Colorado, October 25, 1887, but postponed business in the central and 
eastern states until a subsequent period. In October, 1890, W. W. 
Dudley was appointed resident manager in the United States with 
headqusrtcrs at Chicago, and Charles B. French was designated as 
assistant, and John Shepherd is general agent of the surveying depart- 
ment. The company was admitted by the New York department 
November 22, 1890; Illinois, November 26; and by Massachusetts, 
December 28, 1890. The states of Michigan and Pennsylvania were 
also entered in 1890. Admission was granted to the principal central, 
southern, and western states the following year. Aside from special 
deposits of $25,000 in Louisiana and $50,000 in Oregon, the company's 
deposit capital, when it began business in the New England. Middle, 
and Western states, was $225,000. Its surplus as regards policy holders 
amounted to $446,718. The United States trustees are Lyman J. Gage. 
Samuel W. Allerton, and Eugene 8. Pike of Chicago. Manager Moffat 
was formerly sub-manager of the London and Lancashire, being ad- 
vanced from that position to the one which he now occupies. United 
States Manager Dudley was western superintendent of the North 
British and Mercantile at the time of his appointment. The Pacific 
Coast department is conducted by Balfour, Guthrie & Co. „ of San 
Francisco, who has been in charge of the business there from the out- 
set. The special agents are: D. F. Arnold, for Arkansas, Louisiana, 
and Texas; George H. Allen, for Connecticut, Maine, Massachusetts, 
New Hampshire. Rhode Island, and Vermont; M. P. Vore, for Dli- 
nois; E. W. Wile, for Indiana; W. A. Cormany. for Kansas and 
Missouri; J. A. Nunn, for Iowa, Nebraska, and Wyoming; Albert 
Hoffman, for Kentucky and Tennessee; A. 8. Witherbee, for Michi- 
gan and Wisconsin; W. H. Cobban, for Minnesota, North Dakota, and 
South Dakota; F. G. Gillespie, for New Jersey and New York; John 
8. Seibels, for North Carolina and South Carolina; W. A. Reed, for 
Ohio and West Virginia; and F. M. MacDonarld, for Pennsylvania 
In 1892 the Manchester received $1,555,979 in premiums in this 
country, and disbursed $758,102 on account of losses. Its total assets 
in the United States December 31, 1898. were $1,782,849, the liabilities 
aggregating $1,266,963* The home office statement of the business of 
the Manchester Fire, for 1892, was as follows: The premiums (after 



Marimb Insubancs ih 1892. 191 

deducting re-lneurances) amounted to £516,802 against £854,061 for 
1891, an increase of nearly £162,000. The losses, including full pro- 
vision for all unsettled claims, amounted to £302,895, say 68 per cent., 
against £178,809, say 50 per cent., in the previous year. After paying 
all expenses, commissions, and taxes, the fire account for the year 
closed with a net profit of £39,082. The income from interest on 
investments yielded £12,755. There was added to the funds for the 
year, £81,010, and the funds in hand exceeded £565,000. 

Mansfield, Burton, insurance commissioner of Connecticut, was 
bom at Hamden. Conn., April 4, 1856. He entered the Sheffield Scien- 
tific School in 1875, and after graduating was called to the clerkship 
of the probate court at New Haven, under the late Judge Bradlev, and 
after a year's service entered the Tale law school. He was graduated 
in the class of 1878. Mr. Mansfield opened a law office, and early in 
his professional career gave special attention to the settlement and 
management of estates. In this line he was brought into frequent 
business relations with Governor Morris, who appointed him to the 
insurance commissionership April 11, 1893. 

Mannfacturers Mntnal Underwriters' Association was organ- 
ized at Chicago. 111., in January. 1801, for the purpose of procuring 
information relative to insurable risks. The companies originally par- 
ticipating in the orainization were the Pine Tree Mutual and Wood- 
workers Mutual, Winona, Minn.; Mississippi Valley Mutual and 
Northwestern Mutual, Rock Island. 111. ; Mutual Union and Associated 
Manufacturers, Moline, 111. ; Merchants and Manufacturers Mutual, 
Clinton, Iowa; Millers and Manufacturers Mutual, Minneapolis; Lum- 
t)erman's Mutual, Chicago; Saginaw Valley Mutual and Manufacturers 
Mutual, Saginaw; Manufacturers and Merchants Mutual, Rockford, 
111. The states in which the association is represented are Illinois, 
Wisconsin, Minnesota, Michigan, Iowa, Missouri, Indiana, and Ohio. 
The principal features of the constitution are: 

1. The object of this asBodation is for the pnrpoee of cloMifytng and adopting a 
tchednle for bnalneas to be written ; to recommend adequate fire protection, and to 
adopt a Hyatem of Inepectione for the joint interest of the araoclatlon. 

S. Kach company to become a member mnst promise to make a fnll report every 
month to the secretary of the asaoclation an to its assets and liabilities. 

8. No company of this association shall write on any manufacturing risk except 
on the mntnal plan. AH policies shall contain either a deposit note or contingent lia- 
bility claase cqnal to three or more annual premiums to be assumed by the assured. 

A. A. Carpenter of Chicago was elected chairman; A. H. Ains- 
worth of Moline, vice-chairman; and C. W. Crocker, secretary and 
treasurer. The executive committee is composed of George 8. Roper 
chairman, C, B. Shove, H. C. Cleveland. C. B, Flinn, J. P. Sheridan; 
secretary and treasurer, J. D. Sheehan. The office of the association 
is in Chicago, in charge of the secretary of the executive committee, 
Mr. Sheehan. 

Marine Boards of Underwriters. [See Boards and Boston.] 
Marine Insurance in 1892. The principal companies doing 
marine insurance business report to the New York insurance depart- 
ment. Their statements of business, where they do both ocean and 
inland marine insurance, do not show the two classes separately. The 
following are the aggregates of marine business written in 1892 by 80 



192 Mabtlahd Insubakgb Rkpobt fob 189d. 

fire and fire marine and three marine companies of the United States 
and 12 foreign marine companies, 45 companies in all: 

Rinke written In Iffitt, S^ttlia),3» 

RtekP in force Dm. 81, 1889, 84»,ia,ei9 

Premiams received, 13,S68,Sn 

Lonnespeid 7,800,191 

Marine Insurance in the Courts. [See Legal Decisions Affect- 
ing Insurance.] 

Marine Insurance, Statistics of. [See Appendix.] 

Marine Insurance Statistics, Census Report of. [See Insur- 
ance Statistics, Census Report of.] 

Marks, Stewart, secretary of the Standard Life and Accident in- 
surance company of Detroit, was born in Ireland in 1884. He wae 
educated at Dungannon College, emigrated to America in 1850, was a 
teacher in Iowa, and engaged in various kinds of business until 1865, 
when he entered the insurance bueiness as a general agent of the 
Mutual Life of Chicago. He became secretary of that company in 
1868, and in 1875 accepted the northwestern general agency of tbe 
Continental Life of Hartford, which position he held until he was 
elected secretary and manager of the Standard, in 1886. 

Maryland Insurance Report for 1802. The twenty first annual 
report of the insurance commissioner of Maryland, dated May 81. 1892, 
stated that the following companies were admitted to the state during 
the last department year: American Central, Atlas of London. Chins 
Mutual, Home Life of Brooklyn, Manchester Fire, New York Plate 
Qlass, Pacific Mutual Life, Prussian National, and Reliance Marine of 
London. Thirteen companies, including two local companies (the 
Peabody Fire and West Baltimore), ceased doing business in the state, 
and two were excluded under the retaliatory law, the Fidelity and 
Casualty of New York and the Hartford Steam Boiler. Of the enforce- 
ment of the retaliatory law, caused by the refusal of the insurance 
departments of New York and Connecticut to admit a Mar^'land cor- 
poration on the terms it desired. Commissioner Talbott said: 

Since my lant report there hafl been an importunt decieion given by the court of 
appeals of Maryland, conKtming the retaliatory law of thi« state, and I deem it of puch 
importance that I think it di>KirabIe to call especial attention to the principles laid down 



in the decision and the practical working of this law as coustmed by the highest coart 
in the state. 

The commissioner reported that the change in the tax law, made by 
the legislature of 1890, had had the effect of largely increasing the 
revenue of the state. The publication of the exann nation of the New 
York Life by the New York department had afforded great relief. 
Referring to the fire waste and its effects on insurance rates, the com- 
missioner said: 

The constantly Increasing annnal loss by Are should create more interest on behalf 
of the public than it seems to do, and for economic reasons should receive the attenlfrm 
of other commercial nHsocintionfi than the Are nndcrwrilcrs, who are uatnrally driven to 
demanding higher rales of premium by the growlnc nn])rofltablenosfl of the business. 
Boards of irade and or her f iich organizntiona should take up the snbji^l in some appro- 
priate shape, and asKisl the underwriters in properly sustaining the Are inaarance com 
panles, without waiting ft»r a Chicago or Boston conllngratJon to imprem them with ih*" 
vital importance to all commercial Iransactions of solvent, well maitaged, and sustained 
Are inanrance corporations. 

The activity of the agency companies in this state to some extent accoants for the 
increase of the boahieBa of iheee companies, while there ia a falling off in the busineM 



MA88ACHU8BTTB BkNBFIT ASSOCIATION. 193 

of tlie local orgaoisMlons, and it would seem to call for some special effort on the part 
of the local eompaniea for aelf -preservation at least. 

Maryland, Insurance SaperTision in, 1872-1898. The Mary- 
land insurance department was established by act of legislature of 
1873. The insurance commissioners since organization have been : 

Charles A. Wailes, 18r»-1876 I J. Frederick C. Talbott, 1881-1898 

John M. Miller, 1876-1877 I. Freeman Raisin, I8fla- 

Jcaee K. Hinea, 1877-18891 

The official term is for four years, the commissioner being 
appointed by the governor, treasurer, and comptroller. Two 
commissioners have died in the office — Messrs. Wailes and Hines. 
The present commissioner, Mr. Raisin, was appointed to fill out the 
unexpired term of Mr. Talbott, who resigned to take a seat in the 
fifty-third Congress of the United States. The deputy commissioners 
are J. J. Jackson and Thos. B. Townsend. 

Massachosetts Benefit Life association of Boston was incorpo- 
rated Feb. 8, 1878, under the general laws of Massachusetts, began 
business October 13, 1879. Its business is conducted on the assess- 
ment plan. "As compared with the level premium method," writes 
an insurance manager of prominence in the North American Review for 
October, 1890, *' the assessment plan bases it claims upon the following 
propositions : (a) Equal or greater security, without resort to excessive 
charges, if) Pure life insurance without the concomitant of vast 
accumulation, with the resultant dangers of poor investments and 
misuse of funds, (c) A limited, as against an unlimited, expense 
charge, (d) Funds paid for death-claim purposes held inviolate there- 
for, {e) Equal security for that portion of the resources of the com- 
pany which consists in the obligations of policv-holders to pay on ac- 
count of future death claims. (/) Reserve funds available at all times 
as a conservator of the insurance-granting power of the company, 
rather than as a menace to that function, {g) Equal accountability to 
the state for the proper conduct of affairs, and equal recognition under 
the law as life insurance." 

The number of policies or certificates of the association in force 
December 31, 1893, was 84,843, covering insurance to the amount of 
$105,178,030. The total sum paid by the members during the year 
was $1,957.656.9U ; the membership fees aggregating $176,948.18; 
annual dues, $239,848.60. The mortuary calls, including reserve, 
$1,540,860.21. The total income for the year was $2,167,688.51. On 
account of the losses and claims there was a disbursement of $1,525,- • 
258.85 during the year. The total disbursements were $2,003,844.49. 
The net or invested assets, December 31, 1892, aggregated $1,008,007.55. 

The total income of the association, from 1880 to 1892 inclusive, 
was $9,702,518.51. The disbursements amounted to $8,694,507.49. 
Under the Massachusetts enactment of 1890, the association issues 
policies from $1,000 to $20,000, with a definite promise to pay in full. 
The provisions of the law under which these policies are issued reads : 

ACTS OF 1890, CHAPTER 421. 
"Sbction 14. Sacli corporations sliall provide in tlieir contrat tn with policy or 
certificate bolden» for tlie accumuIatioD of au emergency fund, which oliall be at all 
timec not leas than the proceeds of one death or disability asHeHBinent on all policy or 
certificate holders thereof ; said fund stiall be accumalated within six months from the 
date Qf tbeir incorporation, and, together with the income thereon, shall be a trust foj 



O' 



lie 



104 MABBACHUnTTB IhBUBAHCB RePOBT FOR 1892. 

the paymeDt of death and dtsabllltj dalma ; protddtd^ that whenever eald emergency 
fund ia In cxceee of double the amount of one death and dlaabllity a a oe i w ment upon the 
entire membership, the corporation may applv such ezceae, or any portion thereof, in 
reduction of aaacMmenta nnon policy or certificate holders, or in snch other oqaitable 
division or apportionment tnereof as ita rales or contracts may provide/' 

In keeping with the spirit of the act the association had deposited 
with the treasurer of Massachusetts $200,426.45 of the emergency or 
surplus fund, which can be drawn only on a requisition of two-tMrds 
of the directors, endorsed by the insurance commissioner, for the pay- 
ment of death losses. 

The features of the new policy, which have been elaborated with 
reference to the interests of all parties concerned, are: ^1) A cash sur- 
render Talue. (2) Continued insurance without further payment at 
the expiration of the life-expectancy of the insured. (3) Dividends to 
policy-holders. (4) It contains a non- forfeiture clause under which a 
failure to pay mortuary calls or premiums will not work an immediate 
forfeiture of the insurance. (5) The policy holder may draw his divi- 
dends in cash, or apply them to the payment of future mortuary calls 
or premiums, at his option. (6) In the event of his total and permanent 
disability, shown to the satisfaction of the medical adviser and the 
directors of the company, he may collect one-half the face of his policy 
in cash, thus making his insurance of practical value to him during hu 
lifetime. (7) The policy is absolutely incontestable after three yeare. 
except that error in the age of the insured is open to adjustment. In 
the event that death is the result of a violation of law or of military 
service in time of actual hostilities, or of a duel, or of engaging in 
hazardous occupations or employments, which are prohibited in all 
life insurance policies, the contract becomes inoperative. There is no 
restriction in the policy concerning residence or travel. 

The original officers of the association were William A. Simmons, 
president, and George A. Litchfield, secretary. Willard Marcy became 
president in 1884, and continued in the office until his death, July 5, 
1890. Secretai-y Litchfield was elected his successor, and £. S. Litch- 
field was appointed secretaiy of tlie association. S. P. Hibbard and 
John C. Rand are vice-presidents ; W. G. Corthell, treasurer; C. H. 
Bacall, adjuster; and 8. T. Elliott, comptroller. The directors are 
George A. Litchfield, 8. P. Hibbard, John C. Rand, W. Q. Corthell. 
Henry B. Pierce, E. 8. Litchfield, C. H. Bacall. 

Massachnsetts Insurance Report for 1892. Part I of the thirty- 
seventh annual report of the insurance commissioner of Massachusetts, 
relating to fire and marine insurance, was dated March 28, 1892. The 
number of companies authorized in the Mate, December 81, 1891, was 
181. being 28 less than at the close of 1890. Of the companies author- 
ized, 50 were Massachusetts mutual ; 8 Massachusetts mutual mariDe; 
11 Massachusetts joint stock; 8^ from other states; and 32 United 
States branches of foreign compauies. The companies admitted duriof; 
1891 were the Caledonian, Union of London, Farmers Fire of York, 
Pa., Teutonia of New Orleans, Wachusett Mutual of Fitchburg. 
Mass.. Frnnklin of Louisville, Royal £)xchange of London, Queen of 
New York, and Capital Fire of Concord, N. H. 

Among the 80 companies which ceased doing business, all but fire 
were non-state companies, which retired from business or declined to 
pontinue in the state. The five local companies were t^ie Eliot, Prq- 



Masbachubbttb, Insurance Supebvibion m. 195 

dential, Salem Marine, Mill Owners Mutual, and Shelbume Mutual, 
which discontinued business, re-insuring their risks. 

The report printed for the first time a list in chronological order of 
the names of the Massachusetts fire and marine insurance companies, 
which have retired from business since 1795; a record of nearly one 
century. There were, exclusive of those which changed their names 
and continued under a new name, 195 of them. 

The preliminary text of the fire report was almost wholly devoted 
to a discussion of Massachusetts fire statistics and the national fire 
waste. 

The second part of the report relating to life and casualty insurance 
was published over the date of May 2, 1892. There had been no 
change in the list of life companies transacting business in the state. 
Of assessment companies doing only a "death business" but two 
remained in the state of the long list of eight or ten years ago. Com- 
missioner Merrill gave fifty-six pages of the report to a consideration 
of the endowment assessment business in the state, its rise and decline 
and a history of British friendly societies to show their difference from 
the endowment assessment concerns of this country. The commis- 
sioner said that since the jsemi-annual report on these corporations of 
the previous July, twenty-three had gone to pieces and were in the 
hands of receivers, while four more were on the verge of bankruptcy. 
Thirty-three corporations remained but their speedy dispersion was 
predicted. 

The income of the insurance department in 1891 was $56,186, being 
an increase of $5,278 over the previous year. The total expenditure 
was $26,256, leaving a surplus accruing to the state of $29,980. 

Massachusetts, Insurance SnperrisioiL in, 1855-1898 : The in- 
surance department in Massachusetts was organized in 1855, there 
being three commissioners originally. By chapter 177, acts of 1868, 
the board of three commissioners was abolished, and a board of two 
substituted. The latter was abolished by chapter 255, acts of 1866. 
Since that time the duties of supervision have been performed by one 
ofilcial termed insurance commissioner, who is appointed by the gover- 
nor and confirmed by the council for a term of three years. The com- 
missioners who have served since the organization of the department in 
1855 are as follows: 

Angofltas O. Brewster, April 8, 1855— April 8, ISQO. 

Nathaniel R. Allen Apdl 3, 1856-April 3, 1&56. 

Charles L. Putnam Apfil 8, 1886-Sept. 30, 18M. 

Elihu C. Baker Jane 6, 1866-Aprll 8, 1859. 

John Field Sept. 80, 1R56-April 8, 185S. 

George T. Steams, May 20, 1867— April 3, 1860. 

EHzwr Wright, April 28, 1858-April 98, 1867. 

George W. Sargent April 28, 1868— April 28, 188T. 

John £. Sanford June 29, 1866— Nov. 1, 1869. 

Jallos L. Clarke, Oct. 28, 1869-^an. 1, 1875. 

Stephen H. Rhodes, Dec. 8, 1874-Mar. 12, 1879. 

Julias L. Clarke Mav 8, 1879-Feb. 14, 1883. 

John K. Tarbox April 21, 1883-May 28, 1887. 

George S. Merrill, June 8, 1887— 

Mr. Merrill is the present incumbent. He was re-appointed in 1890 
and agnin re-appointed in 1898, by Gov. Russell. His present term 
wiU expire in June, 1896. The deputy commissioners have been; 



Digitized by 



Google 



196 Mabbachusbttb Mutual Firb Inbubakcb IJinoiv. 

George W. Sargent, May 17, 1871-;rime 16, 1878. 

Step&en H. Rhodes, June 17, 187»-Dec 81, ISTA. 

Benjamin C. Dean, Mar. 4, 1875— Mar. SI, 1676. 

George H. Long, April 1, 1876-Fteb. 19, ISTT. 

Will&m S. Smith, Mar. SO, 1877. 

Mr. Smith is the present deputy commissioner. 

Massachnsetto Mutual Fire Insurance Union. This is an or- 
ganization of mutual fire insurance companies. Ahout the beginning 
of 1879, ofQcers of the Massachusetts mutuals realizing that while the 
competition of the stock companies was very great, there was much 
lack of harmony among themselves, and believing that the mutual 
system was, through intention or misunderstanding, misrepresented, 
resolved to form an association, that would enable the mutual com- 
panies to present a solid front to their competitors. 

In June, 1879. a call for a meeting to consider the advisability of 
forming a union was issued, signed by three of the managers, Charles 
A. Howiand of the Quincy Mutual, £. M. Tucke of the Traders and 
Mechanics, and Alfred L. Barbour of the Cambridge Mutual. In 
response to the call the representatives of seven of the companies 
appeared and a temporarv organization was made with H. C. Bigelow 
as chairman and Alfred L. Barbour, secretary. 

On September 10, 1879, the Massachusetts Mutual Fire Insurance 
Union was organized by the choice of £. B. Stoddard of the Merchants 
and Farmers of Worcester, as president; Charles B. Cummings of tbe 
Massachusetts Mutual, and George B. Faunce of the Dedham Mutual, 
as vice-presidents; and Alfred L. Barbour of the Cambridge Mutual, 
secretary. George Heywood of the Middlesex Mutual, Charles M. 
Miles of the Worcester Mutual. L. H. Bradford of the Fitchburg 
Mutual. £. M. Tucke pf the Traders and Mechanics Mutual, and 
Charles A. Howiand of the Quincy Mutual, were elected an executive 
committee. 

The object of the Union as stated in the preamble was " To consider 
all matters affectiag mutual companies and adopt all things that will 
work for the benefit of that system of insurance." " For social aiitf 
fraternal purposes, to the end that peace, harmony, and good fellow- 
ship may reign." 

The Union started with a membership of 15, representing $200,000,- 
000 at risk. Its present membership is 81 companies, representing 
$435,924,250 at risk, assets of $7,635,952, and annual income o? 
$2,283,807. 

The headquarters of the Union are at No. 27 Kilby street, Boston, 
where the members meet every Saturday. They support a general in- 
spector of risks. They believe in the social element and every quarter 
a banquet follows the business meeiing. Once u year an excursion to 
some prominent place is taken, usually attended by from 60 to 80 
members, friends and ladies. The Union stands relatively to the 
mutuals as the New England Insurance Exchange stands to the stock 
companies. 

The present officers are: president, Charles A. Howiand of Quincy; 
vice-presidents, E. M. Tucke of Lowell, and R, F. Upham of Wor- 
cester; secretary and treasurer, Alfred L. Barbour of Cambridge; 
inspector, Robert A. Barbour of Boston. The compauies now repre- 
sented in the Union are as follows ; 

Digitized by CjOOQIC 



McCall, John A. 197 

Abington. Attleboro, BainBtable County. Berkshire, Bristol (-ounty, Cambridge, 
Citizens, Dealuun, Dorctiester, £s8ez, Fitciiburg, Franklin, Ilampehire, lliugham, 
Hohroke, Lowell, Lrnn, Massachusetts Mutual, Merchants aud Fanners, Merrimack, 
Middlesex, Milford, Mutual Fire Aasurance, Mutual Fire Protection, Norfolk, Quincy, 
Saogus, Sooth Danvera, Traders and Mechanics, Wachusett, and Worcester. 

The Mill or Manufacturers mutual fire insurance companies are not 
members of this organization. 

Massachusetts Mntaal Life insurance company of Springfield, 
Slass., was incorporated May 15, 1851, the charter authorizing a guaran- 
tee capital of $100,000. One-half of the amount was required to be paid 
in in money, the remainder being subject to the call of the directors. 
The annual dividend on the guarantee capital was limited by the 
charter to 7 per cent. By act approved February 20, 1866, the re- 
demption of the guarantee capital was authorized, the surplus funds 
to be used for that purpose, and the elimination of the st^ck was 
effected October 1, 1867. Since that date the company has been purely 
mutual. In 1892 it wrote (20,462,188 new business and had in force 
at the close of the year insurance to the amount of $78,467,497. 

The officers and directors of the company are: M. V. B.'Edgerly, 
president; Henry S. Lee, vice-president; John A. Hall, secretary; E. D. 
Capron, assistant secretary; Oscar B. Ireland, actuary; Gideon Wells, 
attorney; F. W. Chapin, M.D., medical examiner; George S. Stebbins, 
M.D., assistant medical examiner; directors, Homer Foot, Julius H. 
Appleton, Lewis J. Powers, Henry 8. Lee, Gideon Wells, N. C. 
Newell. Henry S. Hyde, Henry M. Phillips, John A. Hall, M. V. B. 
Edgerly, Springfield, Massachusetts; John R. Redfield, Hartford, 
Connecticut; P. 0. Cheney. George B. Chandler, Manchester, New 
Hampshire; James M. Warner, Albany, New York; Edwin D. Met- 
calf, Auburn, New York; John K. Marshall, Boston, Massachusetts; 
J. S. Tilney, New York; P. A. Collins, Boston, Massachusetts; J. 
Edwin Smith, Worcester, Massachusetts; Henry A. Rust, Chicago, 
Illinois; Albert E. F. White, Detroit, Michigan. 
■ _ McAllister, James W., president of the Franklin Fire insurance 
company of Philadelphia, was born May 15, 1889, and entered the 
office of that company as a clerk when fourteen years old. He advanced 
by successive promotions to the presidency of the company to which 
he was elected in 1881, succeeding the late Alfred G. Baker, who 
^Hfsigned in December of that year. 

McBain, W. F., secretary and general manager of the Grand 
Rapids Fire insurance company of Michigan, was bom at Montreal, 
Que., December 1, 1863. His family moved to Saginaw, Mich., while 
he was a child. His first insurance experience was in a local office at 
Saginaw, with his father. In 1887 he was appointed general agent for 
the Grand Rapids Fire and in 1891 was elected secretary. 

MeBride, George W., secretary of state of Oregon, having 
supervision of insurance, was born in Yamhill county. Ore., March IB, 
1854. He was educated as a lawyer, but was a merchant at St. Helens, 
Ore., prior to his election to office. Mr. McBride has been speaker of 
the state house of representatives and secretary of state two terms. 

MeCall, John A^ was elected president of the New York Life in- 
surance company, February 12, 1892. At Chicago, March 9, he 
addressed a meeting of the general and special agents of the western 



Ids McCall, Johh a. 

department in which he outlined bis policy aa president. In the courie 
of his speech he said : 

'* I have entered upon xnv new duties without misgivings except sb to mv own ability. 
Without assuming to myself any greater powers thin are accorded to those who are 
held accountable for the management of great trusts, it is not inopportune to add that 
the responsibility for failure wnl be mine alone. I intend to be In command, and while 
I will gladly listen to the opinions of those I may call to my assistance, yet it will be 
evident that the days of the old r4«;ime are past and newer men and newer modes pre- 
vail. You will not misunderstand me, I am sure. I mean that there shall be no divided 
responsibilities, either with men within or without our company. If I am not eanal to 
the task, no one will be quicker to recognize the failure than I, and L will not be slow to 
act in the company's interests. So, while I ask yon and all who are interested with us 
in giving a hand on the laboring oar, yet the commands to man the vessel will oome 
from but one source.'* 

President McCall was present at the annual meeting of the Canadian 
agents of the company held at Montreal, May 80, 1892. He spoke to 
the agents upon the subject of the future of the company as follows: 

" We stand ready to do our share In restoring the business to a legitimate ba^. 
Nor will we shelter ourselves behind the delinquencies of others. We are not, nor will 
we be, a competitor except in those opportunities and methods that bring honor and 
respect. 8ixe is not of the first ImportAuce compared with strength in vital parts. We 
will not contend for the favor of hired defenders, neither shall we seek to avoid bj pur- 
chase the blow of their itching palm. A defiant attitude is of more permanent service 
against a blackmailer's art than the easv compliance which saves you temporarily from 
his annoyances. Our strife, then, will be for the confidence and good-will of those who 
are interested in life insurance for other than speculative purposes. We will seek by 
liberal treatment, in the terms and in the construction of policv contracts, to win our 
way in the esteem of our members. But that determination will be of no avail nnlese 
the agents assist in its realization. Tou can do more by truthful representation to ^>lace 
the business on a higher plane than all the officers and trustees combined. The ndicu- 
louB efforts for supremacy, indicating an absence of intelligence and integrity, find in 
misrepresentations and In rebates their most cflicient allies. In establishing rules for 
our own guidance, let the avoidance of both these evils be the fundamental principle. 
If we observe such a course and write but one-half the amount that we could othenii5e 
obtain, take my word for it that the company, its management, and its agents will have 
a better standing in the community than if by rebatmg and misrepresenting it bad 
exceeded the highest anticipation of the most 'progressive niauaser.' I trust that I 
have made plain some of ttie motiveja that will control my administration. I would 
rather have the companv referred to as prudent and honorable than to have it dei^ignated 
as a marvel of enterprising growth. 

August 24, Mr. McCall sailed for Liverpool, accompanied by 
Actuary Weeks, Medical Director Huntington, and Assistant Comp- 
troller Suydam to inspect the European business of the New York 
Life. He arrived in New York on his return November 10. The fol- 
lowing evening he entertained at Delmonico's, New York, the execu- 
tive officers and the agents who had written the largest amount of in- 
surance, in a prize contest, in the United States and Canada during his 
absence. The chief victor, Mr. G. A. Smith of Sioux City, la., was 
presented with a gold watch by the president. 

Mr. McCall was born in Albany, N. Y., in 1849. He graduated 
from the Albany Coipmercial College in 1865, and served his insurance 
apprenticeship in the Albany office of the Connecticut Mutual Life 
where he was bookkeeper. In 1870 he received an appointment in the 
actuarial branch of the state insurance department. He was succes- 
sively examiner of companies and deputy superintendent and in 1883 
he was appointed superintendent by Gov. Cleveland. He declined a 
re-appointment when his term expired in January, 1886, and accepted 
the office of comptroller of the Equitable Life Assurance society. Mr. 
McCall was president of the national convention of insurance depart- 
ment officials in 1883 and 1884. ^ , 

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MoGURDT, HiCHARD A. 1^9 

McCarthy, ۥ Q., auditor of state of Iowa, having supervision of 
insurance, was born at Toledo, Ontario, January 27, 1843. He was 
county auditor of Story County, la., eight years, and represented that 
county in the Iowa legislature. He was elected auditor of state on the 
Republican state ticket in 1892. 
*^ McCllntock, Emory, LL.D., F.I. A., actuary of the Mutual Life 
insurance company of New York, was a son of the late Rev. Dr. 
John McClintock, president of the Madison, N. J., Theological Semi- 
nary. He was educated at Columbia College and the University of 
Gottingen, Germany. Before returning to America he served as 
United States Consul at Bradford, England, three years. Adopting 
the profession of life insurance, he was appointed actuary of the Asbury 
Life insurance company of New York in 1868. In 1871 he transferred 
his actuarial services to the Northwestern Mutual Life of Milwaukee, 
and, on the retirement of Prof. Bartlett as actuary of the Mutual Life, 
was appointed to succeed him. Dr. McClintock is first vice-president 
of the Actuarial Society of America. Columbia College conferred on 
him the degree of LL.D. in 1885. [See Selection in Life Insurance, 
Effects of.] 

"* McCardy, Bichard A., president of the Mutual Life insurance 
company of New York, was born in the city of New York in 1885, 
and is a son of the late Robert H. McCurdy, many years a prominent 
director of the company. Mr. McCurdy studied law at Harvard 
University, graduating m 1856 with the degree of LL.B. He 
practiced law in New York with Lucius Robinson, afterwards 
governor, was appointed attorney of the Mutual Life in 1860, elected 
vice-president in 1865, and president in 1885, on the death of President 
Winston. 

Mr. McCurdy contributed several notable articles on life insurance 
to the press during 1892. In the Independent in January appeared 
a paper on the " Insurance of Impaired Lives." He said : 

There is no table of mortality by which the proper premium on sach lives can be 
competed. In the nature of the case no ench table can be constructed, for it ia incon- 
ceivable that a law of mortality should exist and be determinable among an afKregation 
of cases so nndeflnable as those which are classed by the insurance companies under 
this head. The term means practically the lives which are seeking insurance, and 
which are not able to obtain it at ordinary rates; but the reasons for rejection of 
different classes of these lives are infinitely varied, and no classification of them has 
ever been made which could be trusted as furnishing a law of average. It is admitted 
on all hands that in the present state of our knowledge any attempt to establish a 
uniform rule for extra premiums for impaired lives is a speculatiye and hazardous 
enterprise. 

Many companies, Mr. McCurdy said, have been started in Great 
Britain for the purpose of insuring Impaired lives, and at least one note- 
worthy experiment had been made in this country. 8ome of these have 
commanded all the ability of eminent actuaries and of boards of 
competent physicians, but in no instance has the enterprise proved a 
business success. Mr. McCurdy felt sure that a company organized to 
carry on this business here would have no opposition from existing 
companies. It would attempt to do a business which existing com- 
panies do not want and do not dare to do. Moreover, it is a business 
which experienced and enterprising men who are pushing life insur- 
ance would not have neglected if they thought there was money or 
safety in it for themselves or their companies. ^ t 

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dOO Mbreditb, Pbtbr S. 

A paper on the "Root of the Rebate Trouble" by Mr. McCurdy 
was printed in the Independent of October 6, 1802. He said that the 
fundamental difficulty about eradicating the evil lay in the fact that 
there was no court of competent jurisdiction among the companies and 
agents' associations to try causes, convict offenders, and enforce penal- 
ties. The laws of many states forbid the practice, but it was unlikely 
that any case would be successfully prosecuted. The companies hare 
not the machinery adequate to try and sentence offenders. If courts 
were established by them by common consent, they would be wholly, 
extra iudicial and then decrees could not be enforced. Continuing, 
Mr. McCurdy said: 

Regarded u a breach of discipline, rebatinff differs radically from breach of 
contract or Infraction of the elementary rulea which are costomary nowadays for the 
government of agents. In the latter case it is the violation of a clear and siamie 
contract obligation or ri>8altant regulation. In the former the agent r^ards himsdf a« 
within his rights If he cbooees to take the risk. The old idea of an acent as the hambie 
retainer of the company in obtiolele. To-day he occupies an equal footing. He coolly 
bargains for his biisineHs and — we all want his business! 

An agreement had been proposed. Yes, we can all agree, but . 

This is the **but," which being interpreted, means that even if the 
Kingdom of Heaven is at hand, it is not of this world. Undercutting 
prevails in every business. Railways make pooling agreements only 
to be broken at the earliest opportunity and scalping offices are on 
every business block. The greatest sufferers from undercutting or 
rebate are the life insurance companies. "But what can we do?" 
asked Mr. McCurdy, and he continued: 

Hofuse to accoi)t rebated business when we know It ? Of course; but we nerer do 
know it. Dit^niiss the rebating agent when we catch him at it ? By all means; bat we 
never do ciilch him at it. Refuse to employ the agent who rebates r WhT, certainly: 
But there aren't any, for we can't prove it. And so about all we can do is to imitate 
the ante-bellum abolitionists and " agitate — agitate — affitate.^' 

In my judgment the remedy lies with the agents exdnslYely. When they serioasly 
determine that the practice shall stop it will stop. Companies may frown apon it, bat 
so long as snb-agents and solicitors will secretly defy the law of the state and the wish 
of the companies no power possessed by the companies can prevent them. Agents are 
no longer neld in bondage, if they ever were. Their relation to the companies ifl 
regulated by the law of contracts, and competition is the life of trade. . . It is for 
them to devise the means, if there be any. I feel sure that the companies, with few 
exceptions, will back them up. My own company has repeatedly pledged itself in the 
most positive terms to do its utmost in behalf of any feasible plan to suppress this 
undeniable evil, and my personal disapproval and official repudiation of it are too well 
known to need reiteration. 

McLean, George U«, vice-president of the Citizen's insurance com- 
pany of New York, was born in that city in 1889, and is a son of the 
late President McLean of the Manhattan Life, who was previously 
president of the Citizens. Mr. McLean joined the office force of the 
latter company in 1870, was made manager of agencies in 1882, and 
was elected vice-president in April, 1886. 

Mercantile Schedule, Universal. [See Universal Mercantile 
Schedule.] 

Merchants Mutual insurance company of New Orleans. Paul 
Capdeville was elected president to succeed Paul Fourchy, resigned, 
in January, 1892. The Merchants Mutual changed its name to tbe 
Merchants (omitting Mutual) in 1898. 

Meredith, Peter K., insurance commissioner of Delaware, is a 
farmer by vocation and a resident of Kent County. He was appointed 
to succeed Commissioner Fooks in 1898. 



MjcTRoPOLitAN Life Insurancb Oompanv. 201 

Merrill, (itoorgre S., insurance commissioner of Massachusetts, was 
born at Methuen, Mass., in 1889, learned and worked at the trade 
of printer until he became editor and proprietor of the Lawrence 
American at the age of nineteen years, was postmaster at Lawrence at 
the age of twenty-two, went to the war and came out of it a captain, 
was commander-in chief of the Grand Army of the Republic in 1881, 
and commander of the Ancient and Honorable Artillery of Boston 
in 1883. Gov. Ames, in 1887, appointed him insurance commissioner 
of Massachusetts to fill the unexpired term of Commissioner Tarboz, 
deceased. He was reappointed by Gov. Brackett in 1890 and by Got. 
Russell, his political opponent, in 1898. Ma^or Merrill was president 
of national convention of insurance commissioners in 1890. 

Metropolitan Life insurance company of New York was originally 
chartered as a casualty company, and began business as the National 
Travelers insurance company. The act of incorporation was passed 
April 9, 1867. The title was changed by an act passed March 24, 
1868, becoming the Metropolitan Life insurance company. The 
casualty feature of the business was omitted and regular life insurance 
adopted under the general act of June 24, 1858, embracing insurance 
upon the lives of individuals and annuity transactions. The capital wns 
limited to $200,000. The board was authorized, when the gross assets 
of the company should reach $500,000, to retire one-half of the capital 
stock, bv pavment to the stockholders of one half of the par value of 
the stock. An amendment was passed March 27. 1874, increasing the 
dividends to policy-holders and limiting the stockholders to an 
annual 7 per cent. The original charter in addition to the regular 7 
per cent, on the stock provided that there should be placed "to the 
credit of the stockholders one tenth of any surplus which shall 
remain of the profits or surplus after providing for the out- 
standing liabilities of the company." The amount realized under 
this provision was payable to the stockholders at the same time 
and m the same manner as the authorized dividend. Under the 
amendment after paying the dividend of 7 per cent, and providing 
for all the outstanding liabilities of the company "all the remaining 
profits or surplus shall be placed to the credit of the policy-holders who 
may be entitled to participate in the profits or surplus of the company 
in proportion to the amount of premium paid respectively." It should 
be stated in this connection that from the inception of the company 
nothing had ever been paid to the shareholders in excess of the 7 per 
cent, dividend. 

The charter amendment, therefore, was only in keeping with the 
actual practice of the company. May 17. 1883. an amendment was 
passed authorizing a division of the Metropolitan's business into "two 
departments, the books and accounts of which shall be kept separate 
and distinct, and which shall be respectively known as the 'ordinary 
department' and the 'industrial department.'" The amendment also 
provided that on ihe first day of January of each year, or within sixty • 
days thereafter, a valuation should be made of the assets and liabilities 
of the company, and that, after providing for the liabilities of the 
"ordinar3r department," the net surplus derived from the busi- 
ness of this department shall be credited to such policy-holders as mav 
be entitled to participate in it. " Then, after providing for the liabil-, 
10 ........ Ogle 



20^ Mbtbo^litak Lipb Insurancb OOUPAUt, 

ities of the ' industrial department ' and interest upon the capital stock, 
the net surplus derived from the business of said department shall he 
added to the capital stock as additional security to the policy-holders." 
The company was authorized and empowered from time to time to 
increase its capital stock to an amount not exceeding $2,000,000. The 
additional stock was to be paid in cash or by the application of such 
surplus as might be derived from the business of the "industrial de- 
partment." The provision limiting the stock dividends to 7 per cent. 
was re-enacted, in 1881 the capital was reduced to (100,000, but 
on the passage of the 1883 amendment the amount was increased 
to $500,000. May 12, 1889, an additional increase of $500,000 was 
ordered, making the total $1,000,000. In January, 11891, it was in- 
creased to the statutory limit. 

For some years previous to 1879 the Metropolitan made a specialty 
of what was then called the reserve endowment business, policies 
beine issued at ordinary life or limited payment rates, payable at death 
for their face, or at the end of a stipulated number of years — from 
10 to 40, at intervals of 5 — as an endowment for the amount of the 
reserve and accumulations. It had also entered quite largely into the 
insurance of Germans, through an organization known as the Hildise- 
Bund, the premiums being collected by the Bund's officers in weekly 
installments and paid over to the company. This was the precursor 
of its present immense Industrial business, and was the pioneer effort 
in this country to successfully establish a weekly-premium plan of 
life insurance. 

In 1879 the Metropolitan adopted the working methods of the sys- 
tem of insurance known as the English industrial plan, as exem- 
plified by the London *' Prudential/' which had attained great popu- 
larity and volume in Qreat Britain. The insurance commissioner of 
Massachusetts, in discussing this branch of insurance in the annual 
report for 1879, says: '* Though somewhat experimental in its present 
stagd of development in this country, its success has thus far excecnded 
all expectations. Bein^ especially adapted to the p<^or and laboring 
classes, its material and timely relief, so promptly furnished in seasons 
of pressing need, is proving itself a welcome booh to multitudes of 
grateful beneficiaries." Again, in 1882, he said: "This form of 
insurance, which is furnishing timely and needed relief upon the 
death of both children and adults, is based upon the most reliable 
tables of mortality, is strictly legitimate in every respect, and illus- 
trates as clearly as any possible method the beneficent intentions and 
results of life insurance." The issue of industrial policies was com- 
menced in November by the company, and the total number in force 
December 81, 1879, was 5,148, covering insurance to the amount of 
$440,049. 

The system developed with great rapidity and success. The prin- 
cipal insurance departments discussed it in annual reports. The New 
York superintendent in the report for 1883 said : " The rapid growth 
of industrial insurance indicates that the advantages it offers are being 
presented with characteristic ener^ by the companies that are making 
it a specialty. In five years the increase in the number of policies 
issued is amazing. . . . The details connected with the collection 
of the weekly premiums and the verification of the work of the col- 



Digitized b^tVjOOQlC 



MsTBOPOLtTAK LtFB iKSlTRAlfrClB C^OBIPAlhr. dO^ 

lectors are provided for and guided by a well-nigh perfect system. The 
increase each year in the number of people employed by the compa- 
nies in their outside work indicates the popularity of the business. 
The liberality shown in the treatment of policy-holders and the 
prompt payments of claims have accomplished its establishm'ent. 
There is not recalled a sixigle complaint made of any of the 
companies during the year." The Massachusetts commissioner in the 
annual report for 1884 returned to the discussion, expressintj^ his obser- 
vations in the language appended: "Its experience thus far sustains 
the faith of its promoters. This achievement in a season peculiarly 
unfavorable by reason of the sluggish condition of our industries 
deeply affecting that part of our population who furnish its patrons, 
justly inspires the managers of industrial insurance with renewed 
confidence in its permanent success." In 1885 the same official said: 
" The remarkable growth of this branch since its recent introduction 
is evidence of the Interest of all classes in life insurance, and also of 
a thrifty and provident disposition on the part of the mass of the 
people. Its acceptabilitv to persons of humble means is in the circum- 
stance that it may be paid for in small stipends that may be spared 
from the weekly family income." The insurance commissioner of 
Connecticut, discussing industrial insurance in the annual report for 
1884, observed : " The plan commends itself to people of small 
means, depending on daily earnings for support, ana deserves to be 
encouraged in every proper way." In 1885 the same official continued : 
".Five or ten cents a week, according to age, will purchase an insur- 
ance of $100 for persons not past middle life, and thus a small provis- 
ion for the future is brought within the reach of all who are insurable. 
The great body of workers dependent on slender daily wages ought to 
avail themselves of this plan, and not only great private but also pub- 
lic benefit would result therefrom." 

With the beginning of the year 1892 the company instituted an 
important advance movement. Announcement was then made that 
every industrial policy issued after that time would be entitled to a 
X>aid-ap policy in the event of lapse, after being in force five or more 
years. The paid-up feature was extended to all existing industrial 
policies conditionea on their remaining in force five years from Janu- 
ary 1, 1892. The company annoimced at the same time that it would 
issue industrial endowment policies, and published tables for 15, 20, 
25, and 80 years. It began writing these policies at that date, and in 
1898 added the immediate partial benefit clause to them. 

From the company's experience it was ascertained that a very 
respectable proportion of the industrial community desired insurance 
up as high as $500. It was decided this demand could be safely met, 
if a more rigid medical examination were secured than that required 
for an ordinary industrial policy. Special applications were prepared 
and a new form of policy issued in 1893 giving immediate partial 
benefit. 

For more than ten years pri^ to 1892 the business in the ordinary 
department declined because no effort was made to secure new policy- 
holders, but the companv decided to instruct its agents to solicit for 
ordinary business, and for this purpose new rates and policy forms 
were prepared. Ail policies are non-participating. Besides the ordi* j 



m 



Mbtsopolitak Lifb Inbur^ncb Com^ahY. 



nary forms of life and endowment insurance^ the company issues A 
term policy covering the "Ezpectatioo of Life/' a life policy with 
return of all premiums paid, and a life policy which for an unchanging 
annual premium iocreaaes one-tenth every five years, so that after five 
of these periods have been reached, the insurance has increased one- 
half, ana when ten of them have been reached, the insurance has 
doubled. 

In addition to the above an endowment policy with mortuary 
additions is issued — these additions increasing proportionately with 
the age of the policy, and in each case being equal in the last year of 
the contract to the endowment. For instance, if it be a ten-year en- 
dowment for $1,000, then the amount payable if death occur in the 
first year is $1,100; in the second year $1,200, etc. These additions 
are payable only in the eveot of death within endowment period. 

The figures showing the business of the Metropolitan m the indus- 
trial department during the 18 jears ending December 31, 1892, are 
as follows, the number of policies in force and the amount of insur- 
ance outstanding at the close of each year being given: 

INDUBTBIAL POLIGIBS AITD INSXTRAKGS. 



Year. 


Number in Forc«. 


Amoant of Insonnoe. 


1880 


110,198 


$9,108,870 


1881 


190,848 


17,894,640 


188S 


885,789 


84,67\»,a07 


1888 


096,049 


66.686,885 


188i 


670,999 


71,966,688 


1886 


829,888 


91,484,968 


1886 


1,006,876 


119,600,889 


1887 


1,346,136 


147,768,887 


1888 


1,689,648 


176,688,148 


1889 


1,849,118 


800,899,999 


1890 


8,096,696 


881,115,440 


1891 


9,878,487 


864,889,881 


1898 


8,719,880 


810,7«7,8rm 



The industrial policy issued by the company is printed in full in the 
series of policy forms embodied elsewhere in this work. 

The most remarkable success in the experience of this com- 
pany was attained during the year 1892, when it issued and revived 
1,141,828 industrial policies insuring the sum of $127,228,476. Under 
the inspiration of the present management the work in the Ordinary 
Branch also revived, there being written in this department last year 
1.704 policies insuring $2,002,641, which was a larger number thim in 
the previous ten years. 

The office force exceeds 600, and the total number of persons em- 
ployed is about 8,000. The total number of policies in force in both 
departments on December 81, 1892, was 2,719,860, insuring $810,767,- 
896, showing a net gain during the year of 488,220 policies. Its claims 
in 1892 were 50,157 in number and $4,910,981.86 in amount. 

Durinff 1892 the company issued, on an average, each working day 
8,787 policies, wrote new insurance of $422,000, paid claims to the 
amount of $16,016.27, and added to its assets $9,409.59. It is now the 
largest industrial insurance company in America, and, witib one ex- 
ception, the largest in the world. ^,y ,... ., ^ . .^ 



MxcmGAN Ikbuaahcs Bepobt fob 1892. 205 

The original oi&cenof the company were James R. Dow, president, 
and Elias H. Jones, secretary. In June, 1870, John R. Hegeman be- 
came secretary, and in October of the same year, vice-president. 
Joseph F. Knapp was elected {^resident in 1871 and Wm. J. Comly 
secretary. The former, until his death, remained itt the head of the 
company. Secretary Comly, however, was succeeded in 1872 by 
Robert A. Oranniss, who retained the position until 1877, when Mr. 
Hegeman assumed its duties in connection with the vice-presidency. 
In 1890 George H. Gaston was made secretarv. Upon the death of 
President Knapp in 1891, Vice-President John R. Hegeman was 
elected president, and Mr. Haley Fiske, vice-president. In April, 
181^« Secretary Gaston was made second vice-president, combining 
with his new office the duties of his old. James H. Craig is the 
actuary. The present directors of the conopany are Jobn R. Hege- 
man, Thomas L. James, Silas B. Dutcher, Enoch L. Fancher, John 
M. Crane, Emery M. Van Tassel, James L. Stewart. Eli Beard, H. 
Toulman, Edward C. Wallace. Joseph P. Enapp, Ricbard Major, 
Benjamin D. F. Curtis, Stewart L. Woodford, George H. Gaston, 
Haley Fiske. 

Michigan Association of Fire Underwriters. The annual 
meeting was held at Detroit October 8, 1892, and tbe following were 
elected officers for the ensuing year: Henry 8. Seage of Ltmsing, 
state agent of the Traders, president; W. Fred McBain, secretary of 
the Grand Rapids Fire, vice-president; John S. Fletcher of Detroit, 
state agent of the Norwich Union, secretary and treasurer. 

Michigan Fire and Marine insurance company of Detroit in 
June, 1892, elected Frank H. Whitney secretary, to succeed Eugene 
Harbeck, who had accepted the management of the western depart- 
ment of the Phenix of Brooklyn. 

Michigan Insurance Report for 1892. Part I of the twenty- 
second annual report of the commissioner of insurance of Michigan, 
relating to fire and marine business, was dated April 18, 1892. During 
the previous year eight companies had been admitted to the state: the 
Albany, Armstrong, Fire Association and Mutual Fire of New York, 
Oakland, Home, Reliance, Rockford, and Queen. Eighteen companies 
had withdrawn. The commissioner noticed the memorial of the Na- 
tional Board of Fire Underwriters to the president in reference to the 
national fire waste, and advocated a law providing for the investigation 
of fires in Michigan, on the plan of the Massachusetts law. 

In Part II of the report it was stated that there had been no changes 
in the list of regular life companies doing business in the state during 
the year. Tbe commissioner exposed the operations of unauthorized 
j;rave3rard insurance associations in the state, and said that the punish- 
ment inflicted by existing laws upon persons convicted was not com- 
mensurate with the enormity of the offense, and he asked for more 
legislation. He also denounced the endowment orders and begged for 
an amendment to the law governing fraternal societies, wbich would 
enable him to puni.«h the swindlers who were swarming into tbe stale. 
He advised a general overhauling of tbe insurance laws of tbe state. 

The receipts of the department for the year ending June 30, 1H02, 
were (including taxes on insurance companies) |187, 510, The expenses 
of the department were f8,062, ^,y , .. ., _ _ -^S\^ 



206 Michigan Mutual Lifb Insurakcb CouPAirr. 

Michigan, Ingnrance Saperrision in, 1871-1 89S. The d^rt- 
ment was established by act approved April 18, 1871. The official 
head is the Qpmmissioner of uisurance, who is appointed by the goT- 
ernor for a term of two years. The commissioDers have been : 

Samoel H. Row« April, 1871— Jan., 18B3. 

Eugene Pringle,. : Jan., 188S— Jan., 18S6. 

Henry S. Raymond, Jan., 18»— July, 18»1. 

William E. Magill, July, 1891--July, 1883. 

Theron P. Qid<mi^, July, 18W— 

Mr. Giddings is the present Incumbent. His term will expire July 
1, 1895. The deputy commissioner is H. W. Walker, late secretary of 
the Michigan Masonic Association (assessment). 

Michigan Life Insarance Arents* Association was organized 
in November, 1886. At the annual meeting, November 29, 1892, offi- 
cers for the ensuing year were elected as follows: G. A. Watkins, 
president; H. G. Van Tuyl. first vice-president; 8. L. Houghton, sec- 
ond vice-president; C. S. White, secretary and treasurer; W. T. Gage, 
W. H. Thompson. H. Haskell, 0. W. Pickell, A. K. Bradley, executive 
committee. It was reported at the meeting that eighteen companies 
had sent favorable replies to the request of the association that com- 
panies will discharge agents detected in giving rebates to the assured. 
[See Anti-Rebate Laws.] 

Michigan Mntaal Life insurance company of Detroit was incor- 
porated November 6, and began business November 12, 1867. The 
original directors were John J. Bagley, Jacob S. Farrand, Robert W. 
King, T. H. Hinchman, Arthur C. Porter, William A. Moore, Gteoree 
Foote, Gustavus Doeltz. E. 8. Heineman, N. G. Isbell, Edward Le 
Favour, Wm. 8. Wilcox, George W. Lee, Charles D. Stevens, John 
Johnston, P. B. Loomis, T. A. Flower, F. W. Judd, Herman Keifer, 
W. F. Raynolds, T. M. Cooley, E. O. Grosvenor, and O. 8. Gulley. 
John J. Bagley was elected president, John T. Liggett, secretary, and 
Professor Janues 0. Watson of the University of Michigan, actuary. 
The capital was $100,000. The annual dividend to stockholders was 
restricted to 10 per cent, from the beginning. Securities, aggregating 
$100,000, were deposited with the state treasurer for the protection of 
all policv-holders. May 18, 1876, the capital was made ax|uarter of a 
million dollars, and has remained unchanged since that time. Jacob 
8. Farrand was elected president of the company in 1871, and remained 
in active service until his death, April 3, 1891. The progress of the 
company during the score of years was due to the effective administra- 
tion of President Farrand and his associates in office, including Vice- 
President William A. Butler. The latter was on what proved to be 
his death-bed at the time of President Farrand's death. He was 
elected to the presidency of the company April 28, but on account of 
the fatal illness referred to was not able to perform any of the duties 
connected with the office. His death occurred May 6. President Far- 
rand was 76 years of age at the time of his death, and President Butler 
78. These two officers were among the originators of the Michigan 
Mutual, which was the only life insurance company organized under 
the laws of Michigan until 1886. The secretaryship was held by John 
T. Liggett from the time of the company's organization in 1867 until 
September, 1883, wheq he was succeeded by Oscar R. Looker, who 

J,,, _. /Google 



MicmoAN Mutual Lirs Inburakob Company. 207 

prior to that date had been the cashier of the company. In 1880, M. 
W. Harrington was appointed actuary. 

A statute approved May 17, 1881, making policies non forfeitable 
after the payment of three annual premiums, went into effect Septem- 
ber 8 of that year. This law received the cordial approbation of the 
officers of the Michigan Mutual. The company in fact was the only 
one organized under the laws of Michigan that could be affected by 
the provision. The company also adopted definite contracts of insur- 
ance with cash or paid-up values endorsed on every policv issued^ 
This plan left nothing unsettled as to the terms upon which any 
policy-holder could retire from the company, whether voluntarily or 
on account of inability to continue tbe payment of premiums. It has 
been the aim of the managers from the outset to promote the best in- 
terests of the policyholders. In 1870, the company was admitted to 
Ohio and Indiana. But its principal operations outside of Michigan 
have been established during the past eight years. Business was begun 
in Illinois in 1884, Kansas and Minnesota in 1885, Iowa in 1886, Penn- 
sylvania in 1886, Colorado in 1889, Wisconsin and Kentuckv in 1889, 
New Jersey and Maryland in 1890, Tennessee in 1891, and Georgia 
asd North Carolina in 1892. The company has been noted from the 
first for its conservative selection of risks— a fact in its experience no 
farther back than 1882, when its business was confined to Michigan, 
Ohio, and Indiana, will illustrate the point. In this territory the death 
losses for the period under calculation amounted to 876, while by the 
American tables the total should have been 493, and by the Actuaries' 
580. The aggregate mortality experienced by the company, in other 
words, was 76 per cent, of the American, and 71 per cent, of the Eng- 
lish figures. This result must be attributed in part at least to the 
company's selection, the healthfulness of the territory in which the 
business was transacted not affording an adequate explanation. 

With the death of Presidents Farrand and Butler tbe directors were 
called upon to designate a successor who should promote without in- 
terruption the prosperous management that bad been maintained for 
twenty years. Naturally, ex-United States Senator Thomas W. Palmer 
of the board became the choice of his associates. He was elected July 
28, 1891. Mr. Palmer, who is widely known as a public man, was 
elected president of the World's Columbian Exposition in 1890, and on 
that account was obliged to retire from the presidency of the company. 
Secretary Looker, who had been the actual manager for some years, 
was then advanced to the presidency. His administration as president 
began Januarv 81, 1898. His associate officers are 8. R. Mumford, 
first vice-president; J. W. Dusenbury, second vice-president; H. F. 
Frede, secretary; G. W. Sanders, actuary; and W. F. Raynolds, con- 
sulting actuary. The directors are: 

O. R. Ixwker, 8. R. Mamford, J. W. DnsenbDiT, Hon. T. W. Palmer, Gen. William 
F. Raynoldi, Charles A. Kent, Hojt Post, Emory Wendell, William A. Moore, W. C. 
ColbiuiL. Robert W. King, George w. Latimer, M. 8. Smith, D. M. Ferry, George Peck, 
R. P. Williams, G. 8. wormer, H. F. Lyster, M.D., Wm. S. Green, L. H. Chamberlln, 
B. H. Elwell, William 8. Wilcox, B. J. Conrad, M. J. Mooney, J. H. Cnmmlns, Theo. 
P. Gordon, B. C. Farrand, E. R Welton, W. H. Brace, Franlt 8. Ring. 

The appended table presents in detail the business of the company 
since 1870, the statistics being by the year since 1880. From organ- 
ization until January 1, 1898, the payments to policy holders bave> 
amounted to |8,860,^W. ^«r...^. ^^^ 



308 



MncB, LiviNosioir. 



Year. 


' Total 
1 Income 
Per Year. 

$98,595 


1 

Premium ' 
Receipts. 

$87,837 


Paid 

Policy- 
holders. 

1- 
$24,3&3 


Total 

Admitted 

Assets. 


Sorplns 

as regards 

Polfcy- 

boldera. 


Number 
of 

Policies. 


Inaarance 
inForoe. 


1870 


$199,860 


$87,861 


1,674 


$8,091,065 


1875 


a9«,87I) 


865.194: 


146,646 


696,095 


94,466 


6,844 


19^8.816 


18H0 


881, 2(K) 


213,683 


139,Wa 


971,908 


966,896 


4,682 


8,844.816 


1881 


808,588 


239,431 


i30,(xv; 


1,037,678 


986.976 


4,999 


8,966,988 


1882 


»45,l»3C 


278,(X)« 


185,804 


1,086,971 


291,470 


5,490 


9,848,734 


1888 


, 38fi,47\» 


320,012 


145,399 


1,901,079 


950,811 


6.888 


10,688,385 


1884 


; 437,6^9 


86(K06« 


166,714 


1,848,801 


254,114 


8,628 


11,797.680 


1885 


1 639,126 


441,625 


197,8(50 


1,499,608 


968,140 


7,608 


1«,7«,117 


1886 


1 »n,-M9 


512,0«)7 


193,512 


1,720,299 


960,191 


8,9M 


16^1,928 


1887 


700,593 


&ei,&JG 


266,386 


1,958,115 


269,304 


9,891 


18,060466 


1888 


733,063 


619.550 


248.519 


2,366,206 


891,924 


10,449 


19.099,380 


1889 


1 810,0(33 


6:6,319 


278,346 


2,689,257 


379,901 


10,896 


90.372.166 


18«0 


1 896,67« 


747,196 


311.253 


2,976,469 


408,472 


12,146 


99,899,718 


1891 


1 1,062,*>4 


882,616 


838,212 


8,408,797 


478,319 


13,986 


96.988,347 


1809 


' 1,218,218 


1,028,322 


370.804 


4,003,816 


462,689 


16,909 


81.104,394 



Middle Department, Underwriters Association of. [Be% 
Underwriters Association of the Middle Department.] 

Mid^lejr, William £., president of the American Casualty Insur- 
ance and Security Company of Baltimore, Md., was born in tliecity 
of New York in 1846. tie was educated at the Jenner school in tliat 
city and the Columbia College law school. In 1868 he l>ecame a part- 
ner in the silk importing house of L. O. Wilson & Co., New York, 
and continued in the business until the firm dissolved in 1879. The 
following year Mr. Midgley accepted the assistant secretaryship of 
the New x ork and Boston Fire insurance company, remaining with it 
until its retirement in 1888. In November of that year he received 
the appointment of vice-president of the American Steam Boiler insur- 
ance company, which he resigned in 1889 to take the presidency of the 
American Casualty in January, 1890. Mr. Midgley is a director of 
the Clinton and Sherman banks of New York. 

Miller, Bloomfleld J., actuary of the Mutual Benefit Life in- 
surance company of Newark, N. J., was born in that city December 
81, 1849. tie entered the mathematical department of the Mutual 
Benefit when less than eighteen years old, in September, 1867, under 
Amzi Dodd, then head of the department. Mr. Miller was appointed 
actuary in May, 1871, and mathematician in Januarv, 1882. tie is one 
of the charter members of the Actuarial Society of America, and, at 
present, its second vice-president. 

Mills, C B.y auditor of state of Arkansas, having supervision of 
insurance, was born in Ralls county, Missouri, September 80, 1889. 
He was county clerk of Crittenden county, Ark. , before liis election to 
his present office. 

Mims, Livingston, president of the South Eastern Tariff Associa- 
tion, is a native of South Carolina, but went with his parents to 
Mississippi in childhood. He studied the profession of law and was 
admitted to the Mississippi bar before he was twenty years old. He 
was a member of the senate of that state in 1860 and a Breckinridge 
elector. When the war broke out, he enlisted as a private in one of 



MiinnMOTA A2n> Dakota Fxrx XJndsbwbitsbs. 209 

the first companies organized in his state, but was appointed by the 
Confederate president diief quartermaster of the mihtary department 
of MisaisBippi, and served in that capacity through the war. At its 
close he went into the insurance busiuess m coDjunction with his old 
commander, Gen. Johnston, thus creating the firm of Jos. £. Johnston 
& Co., which became managers for the New York Life iDsurance com- 
pany and the Liverpool and London and Globe for the southern 'states. 
In 1878 the firm resigned the agency of the Liverpool company to 
accept that of the Home of New York. General Johnston retired in 
1889, and Major Mims continued the business of the firm. He resigned 
the management of the Home in 1889, but retained that of the !New 
Yorlc Life whidbi he has continued to the present time; and is also 
manager of the southern department of the Greenwich insurance 
company of New York. He succeeded Clarence Enowles as presi- 
dent of the South Eastern Tariff Association in 1888. 

Minneapolis Mntaal Life insurance company was organized at 
Minneapolis in 1892, on the plan of the Fidelity Mutual Life of 
Philadelphia. Its officers were: J. H. Queal, president; T. W. P, 
Patterson, first vice-president: W. H. Matthews, second vice-president; 
A. A. Cowles, secretary; 8. M. Davis, superintendent of agencies. 

Hiniieapolis National Life insurance company of Minneapolis, 
Minn., was incorporated in 1892 with a capital stock of $125,000. 
The following officers were elected: E. M. Mabie,. president; C. M. 
Lorinff, vice-president; W. M. Tenney, secretary; ex-Governor A. R. 
McGifl, treasurer; Dr. Qeo. F. Roberts, medical director. 

Minnesota and Dakota Fire Underwriters was organized April 
23, 1885, being the successor of the Wisconsin, Minnesota, and Dakota 
Union. The first meeting was held at Minneapolis, and J. J. Mc- 
Donald was elected president; A. J. Trumbull, vice-president; and A. 
K. Murray, secretary and treasurer. The presidents since organization 
have been: 1885, J. J. McDonald; 1886, A. J. Trumbull; 1887, J. H. 
Griffith; 1890, £. M. Hitchcock; 1892, George G. Williams; 1893, 
Samuel J. Johnson. 

The organization is a rating and supervising body, having charge, 
practically, of the states of Minnesota, North Dakota, and South 
Dakota, excepting the towns under the jurisdiction of the St. Paul and 
Minneapolis inspectorship, the Winona inspectorship, and the Duluth 
inspectorship. At the annual meeting in April, 1893, the following 
officers and executive committee were elected: 

President, ^amuel J. Johnson of Minneapolis, special agent of the 
Phenix of Brooklyn; vice-president, R. A. Overbeck of St. Paul, 
special ageni of the St. Paul Fire and Marine; secretary and treasurer, 
Walter H. Cobban of Minneapolis, special agent of the Manchester 
Fire. Executive committee, C. W. Higley of Minneapolis, state agent of 
the New York Underwriters Agency; W. O. Chamberlin of Minnea- 
polis, special agent of the Niagara Fire; W. D. Lowry of Minneapolis, 
superintondent of agencies of the Hartford Fire; A. A. Cratsenberg of 
St. Paul, special agent of the Germ an -American; Howard Grenell of 
Minneapolis, special agent of the Merchants of Newark; L. W. Hazen 
of Huron. S. D., state agent of the Phenix of Brooklyn; W. E. 
Higbee of Minneapolis, special agent of the Springfield Fire and 
Mfffine. r^ t 

10» .y.zedbyCjOOgle 



210 MnfNBiOTA, Ikbubanob SuPBBvxnoH nr. 

The following companies are represented in the Minnesota and 
Dakota Underwriters, hy fiftj-eight active members: 
ifitna, Hartford. | German - AoMrican, New North British and Merean- 

American Central, St. Lonla. ' York. tile. 

American Fire, New York. , Germania Fire, New York. National Fire, Hartford. 
American Fire. Philadel- 1 Hartford Fire, Hartford. NorwichUnion, Norwich. 

phla. Hanover Fire, New York. 

Barlinf^n, Bnrlin^n, la. ' Ins. Co. of North America. 
Commercial Union, London. Liverpool and London and 
Continental, New York. I Globe. 



Connecticut Fire, Hartford. 
Citlsens, New York. 
Concordia Fire, Milwankee. 
Delaware, Philadelphia. 
Fireman's Fond, San Fran- . 

Cisco. I wankee. 

Fire Association of Phila- < Merchants. Newark. 

delphia. , Niagara Fire, New York. 

German, Freeport, 111. Northern, London. 



London and Lancashire. 
Lion Fire, London. 
Manchester Fire, Manches- 
ter. 
MUwankee Mechanics, Mil- 



Phenlx. Brooklyn. 
Pennsvlvania Fire, Phila- 

delpnia. 
Qoeen, New York. 
Royal, Liverpool. 
Son, London. 
St Paal Fire and Marine, 

St. Paul. 
Springfield Fire and Marine, 

Sprrngfleld. 
Synidicate, Minneapolis. 
Scottish Union A Na ' 

Bdinlmrgli. 

Minnesota Association of Life Underwriters. At the annual 
meeting; held in December, 1892, officers were elected as follows: L. 
D. Wilkea of the Equitable, president; Lindsey Webb of the State 
Mutual of Massachusetts, first vice-president; J. Watson Smith of the 
Provident Life and Trust, second vice-president; F. L. Bancroft of the 
New England Mutual, secretary; C. 8. Miller of the Provident Life 
and Trust, treasurer. E. W. Feet, of the Mutual of New Yorlc, is 
chairman of the executive committee. 

Minnesota Insurance Beport for 1892. The fifteenth annual 
report of the insurance commissioner of Minnesota, relating to fire and 
marine insurance business in the state in 1891, was dated 
March 1, 1892. The companies admitted during the year were the 
Armenia, Albany, Alamo, Alliance of New York, Atlas of London, 
Firemen's of Chicago, Granite State, North River, Prussian National, 
and Queen. Twenty-eight companies ceased to do business in the 
state. The commissioner strongly recommended the enactment of 
a law, on the Massachusetts plan, to investigate the causes of fires. 

But one new life insurance company had been licensed — the Life 
Insurance Clearing Company of St. Paul. The Imperial of Detroit 
retired from the state. The commissioner denounced the endowment 
assessment frauds and urged legislation to regulate the assessment 
business in the state. He said : 

It is not a credit to the state that it allows companies to do business within its 
borders which are only able to pav perhaps thirty to fifty per cent, of the face of their 

Soliciefl at death — corapanice wliich Induce the husband and father to part with a pox^ 
on of his hard-earned wnge» In order that his dependent ones may have something in 
case of death. After years of assessment, pavmeuts beine made with privation, per- 
haps, it certainly Is agKravating to the dependent ones to be informed tiiat their policy 
Is worth iesa or worth only twenty-flve to fifty per cent, of the face of the policy. And it is 
a lamentable fact that the very ones who most need insurance, and who can least afford 
to lose their premiums, are the very ones who are induced to take ont policies in weak 
companies, lured on, probably, by low premiums. It is tliis class of people that the state 
should protect as fully as possible. 

The receipts of the department* for taxes and fees in 1891 were 
$131,949. The disbursements on account of expenses were $7,047. 

Minnesota, Insurance Supervision in, 1872-1893. The insur- 
ance department was organized under act approved February 29, JL872, 
the supervising official being termed insurance conunissioner. He is 



MnsouBi IirsusAKciB Rbfobt fob 1893. 211 

appointed by the goTemor for two yean. The commissioners have 
been: 

Bennock Piuey, March 1, 1879 — Dec. 16. 1878. 

A.B.MCOU1, Dec. 16,18?« — Jan. 6,1887. 

Charles Shandrew Jan. 6, 1887 — Jan. 29, 1889. 

CalTin P. Bailey, Jan. 93, 1889 — Jan. 5,1891. 

Charles H. Smith, Jan. 6, 1891-> 

Mr. Smith was reappointed in January, 1898, for two years ending 
1895. D. C. Lightboum is the deputy commissioner. 

MlBsissippi, Insurance Saperrision in^ Under the revised code 
of 1857 the auditor of public accounts was charged with the super- 
vision of insurance in Mississippi. The auditor is appointed for a 
term of four years. Those who have served since 1880, when the 
insurance law was amended, are. Sylvester Gwin, whose term expired 
in 1886, and W. W. Stone, whose term extends under the new consti- 
tution until January, 1896. T. M. Henry is the deputy auditor in 
charge of insurance. 

Mississippi Talned-Poliey Law. The new valued-policy law of 
Mississippi taking eilect November 1, 1892, the executive committee 
of the South Eastern Tariff Association, at a meeting at Meridian, 
promulgated the following rules to meet the emergency : 

SscTiQN 1. In Vicksbnrg, Natchez, Meridian, Jackson, Greenville, Colombus, 
Aberdeen, Canton, Tazoo City, and other cities and towns of equal size, a corapetent 
bailder be employed to yalae each building to be insured, taking into consideration 
its condition and depreciation, and report in writing to the secretary of the local board 
and the Sonth Eastern Tariff Association. That a charge of 10 cents per $100 of 
insurance be added to rate in every case to cover cost of such valuation, no fee to be 



less than $1.00 and none exceeding $10.00. Farther, it shall be the duty of said builder 
to examine all flues, chimneys, and stove pipes, and include ii ' ' 
whether same are safe, and, if not, point out existing defects. 



ng^ , 

to examine all flues, chimneys, and stove pipes, and include in his report a statement 
~^ether same are safe, and, if not, point out existing defects. 

2. In other places valuation shall be made by a builder to be selected by executive 
committee, who shall report in writing to the secretary of the local board at each 
place^ and file a copy with the secretary of the association; compensation to be 
arranged for by collecting not exceeding 26 cents per $100 of insurance on each policy 
written. 

8. The amount of insurance be limited to 76 per cent, of the value as -fixed by said 
builder, and the amount permitted stated in the policy, in the following langnngc: 
*' Total insorance permitted not exceeding $ , including tliis policy.'' 

8bc. 2. There shall be an application on all building risks; such application 
to be so prepared as to give an accurate description of the property to be insured with 
its aee and condition. Policies issued on such application to follow strictly the descrip- 
tion in the application, and to be so written as to only cover the building described by 
the applicant, and also assnred^s warranty as to value. 

Sxc. 8. The Three-Fourths Value Clause be required In all policies covering 
personal property, except on such as are subject to the Full Co-insurance or Average 
CJaose. That the Iron Safe Clause be required in all policies covering mercantile 
stocks. 

MisgonrI, Association of Fire Underwriters of. [See Associa- 
tion of Fire Underwriters of Missouri.] 

Missouri Insurance Beport for 1892. In the twenty-third 
annual report of the superintendent of insurance of Missouri, dated 
April 25, 1892, he printea the following list of companies admitted to 
the state during the last department year: Capital Fire of New 
Hampshire, German of Quincy, III., Millers National of Chicago, 
Queen of New York, Atlas of London, Prussian National of Stetun, 
New York Plate Glass, and Kansas Mutual Life of Topeka. In addi- 
tion to these, five assessment life and one assessment casualty com- , 
pany were admitted. Two new domestic trust compiam.dsing^l^Le 



212 MiBsotJBi, Insubakcb Supebtibion nr. 

surety business were authorized to trausact the same. Thirty fire 
and nre marine companies, one life company (the Imi>6rial of Detroit), 
and four assessment companies ceased to do business in the state. 

Commissioner Ellerbe, in the preliminary text of the report, said that 
the margin for profit in Missouri for fire insurance companies doing 
business therein in 1881 was so small as to discounure addition^ 
capital from entering the state. The fire waste in the United States, 
he declared, was ** beyond reason." He approved of the proposed law 
to make investigation of the causes of fires compulsory. He urged 
legislation in regard to misrepresentation by applicants for life insur- 
ance and the taxation of assessment companies. In reference to the 
want of uniformity in the nonforfeiture life insurance laws of the 
several states having such laws, the commissioner said: 

In hifl last report the saperintendeiit advised the legislalnre of the neoeaaltr of 
correcting an error on the one hand and an Indefiniteneaa on the other, codstiog in the 
Bcctions of law rclnting to the non-forfeiture of life insarance policies. It la poaf^ible 
that a radical change otherwise may l)e made in the law with advantage. No two 
Rtaten agree upon the tenuB of non-forfeiture — none of the laws agree with what 
in eouna theory in the minds of the managern of companies. Mr. Aug. F. Harvey, the 
actuary of this department, has proposed to a committee of the Nation^ Convention of 
Insurance Commissioners having the subject in liand, a measure which has already met 
tiic ai)proval of some of the members of the committee. It ia simply that the' state 
shall, if it seems best, enact a scheme of non-forfcitnre for the corporauona of its own 
creation; and provide tiiat such Kcbemc shall be inoperative as to life companies of other 
states, conditioned only that through thdr own state laws, or of their own motion, 
their contracts shall contain agrooments of commutation, to take effect not later than 
four years after issue. Such a brief enactment will secure policy-holders against con- 
fiscation; and competition will give the advantage, in the amount of new business, 
to that company which will deal most equitably in the matter of surrender dlarge. 
The suggestion is of importance and worthy of careful consideration. 

The receipts of the insurance department in fees, etc., from com 
panics during 1891 were $28,961, and the expenditures were $15,778. 

Missouri, Insurance Supervision iu, 1869-1898. The act creating 
the insurance department in Missouri was approved March 4, 1869. 
The superintendent of insunince is appoinlea by the governor for a 
term of four years. The superintendents, since the organization of the 
department, have been : 

WyllysKing, March, 18(J&-June, 1878. 

Miles Sells June, 1878-March, 1873. 

William Selby March, 1873— October, 1818, 

Francis P. Blair, Jr., October, 1873-July, 1876. 

Celsus Price, July, 187&-March, 1877. 

Williams S. Relfe, March, 1877— March, 1881. 

John F. Williams, March, 1881— March, 1885. 

Alfred Carr March, 1885-March, 1889. 

Christopher P. Ellcrbe, March, 1889— March, 1883. 

James R. Waddill, • March, 1893— 

Superintendent Waddill's term will expire March 1, 1897. The 
following is a list of the deputy superintendents: 

Charles E. King March, 1869— March, 1873. 

D. 1*. Wallingford, March, 1873— October, 1878. 

Charles E. King October, 1873— March, 1877. 

Martin L. Hubble March, 1877— March, 1878. 

S. A. Gilbert March, 1878— March, 1881. 

Edward W. Knott, March, 1881— March, 1889. 

Andrew Van Womier, March, 1889— March, 1883. 

O. K. Clardy, March, 1893— 

Aug. F. Harvey was appointed actuary March, 1870, and resigned 
in August, 1878. He was re-appointed undej^^Supermtgiident Jla& in 



MONTFBLIBB BOABB 09 FlBB UllDBBWBITBBfl. 218 

October, 1873, and resigned in March, 1875. Mr. Harvey was re- 
appointed under Superintendent Reife, October, 1879, and still holds 
the position. 

MofEat, James B.,8ecretaiT and general mana^of the Manchester 
Fire assurance company of England, was born in Scotland in 1846. 
Previous to his appointment to the Manchester, Mr. Moffat served 
successively in various capacities, the Scottish Union and National, 
Northern, and London and Lancashire. His acquaintance with British 
and American fire underwriting extends over a quarter of a century of 
close application. 

Montana; Insurance Saperrision in, 1888-1898. Under the 
territorial insurance act of March 8, 1888, the territorial auditor was 
made the official to whom insurance companies and agents should re* 
port. When Montana was admitted to the Union, as a state, in 
November, 1889. the state auditor succeeded the territorial auditor as 
insurance supervisor. The auditors since 1888 have been: 

J. p. Woolman, Territorial Andltor, .... 1888—1888. 

James SalUvan, '' " .... 1888-1889. 

Bdward A. Kenney, State Andltor, .... 1889—1803. 

Andrew B. Cook, *» »» .... 1888— 

The State auditor is elected by the people for a term of four years. 
The insurance clerk, under the present auditor, is Sam. K. McDowell. 

Montgomery, Thomas H.. president of the American Fire insur- 
ance company of Philadelphia, was born in that city February 28, 
1880, the son of the rector of St. Stephen's P. K. church. At the age 
of 17 years he entered the drug house of Charles Ellis & Co., and io 
1851 was graduated from the Philadelphia college of pharmacy. 
After some years in the drug business he became interested in the 
organization of the Enterprise insurance company of Philadelphia, of 
which he was successively secretary and prcnident. The company was 
destroyed in the Chicago fire. In April. 1872. Mr. Montgomery was 
appointed general agent of the National Board of Fire Underwriters, 
niui conducted its operations through that famous episode in its career 
ill wtiich it rated the fire insurance business of the country. He re- 
signed May 1, 1878, and after a short service with the Insurance 
Company of North America at its home office, was elected vice-presi- 
dent of the American Fire, and, on the death of Mr. Maris, succeeded 
to the presidency. Mr. Montgomery is distinguished as an anti- 
quarian and author, and has written a valuable history of the venerable 
Insurance Company of North America. 

Montpelier Board of Fire Underwriters, having jurisdiction 
throughout Washington county, Vermont, entire, and a part of the 
adjoining county of Orange, was organized April 21, 1888. It is a 
rating and supervising board, and is composed of representatives of 82 
companies, including one locid stock company, the New England of 
Rutland. The presidents since organization in 1888 have been A. C. 
Brown. E. W. Bisbee, and J. K. Edgerton. The officers chosen at 
the last annual meeting are: J. K. Edgerton, president; W. E. Barney, 
vice-president; James T. Sabin of Montpelier, secretary and treasurer. 
There ara no compacts or stamping ofoces within the iurisdiction of 
the board, and it is ia harmonious relations with the New England 
Insunmce Exchange. ^,y , ... ., . .^ 



dl4 MoBTOH, Baolt a Mobtoh. 

Moore, Eugene, auditor of public accounts of Nebraska, having 
superyision of insurance, was bom at Dahlonega, la., Julj 18, 1854. 
Prior to bis election in 1893, be was court reporter at Norfolk, Neb. 

Moore. Francia C, president of tbe Continental insurance com* 
pany of New York, is a native of the state of Texas, where he was 
bom in 1842. His early years were passed in Philadelphia and he 
studied the profession of law in the University of Pennsylvania, but 
did not seek admission to the bar. In 1868 he was superintendent of 
a lumber and planing mill and in 1868 was a wholesale manufacturer 
of paper and envelopes. A few years later Mr. Moore became inter- 
ested in fire underwriting and joined the Continental, which appointed 
him manager of agencies in 1880. Two years later he was elected 
second vice-president, and on the death of Mr. Hope in 1886, succeeded 
him as president. Mr. Moore has written a great deal upon fire under- 
writing and is the author of several text books on the subject. The 
"universal mercantile schedule" is largely his work and he is the 
chairman of the committee which has prepared it. 

Moore, George A., president of the Pacific Mutual Life insurance 
company, was born at Philadelphia, February 6, 1884. He was 
educatea as a physician and went to California in 1854, where he en- 
gaged in various pursuits. It was not until 1876 that he became con- 
nected with the Pacific Mutual, when he was made managing director. 
_ In 1880 he was elected president of the company. 

** Morant, George C, assistant manager of the Commercial Union 
at the home office, is about 50 years old. He was for some j^ears con- 
nected with the Royal in Liverpool, then with the Northern insurance 
company's office in London. In 1878 be was appointed foreign super- 
intendent of the Guardian, and in 1885 assistant mana^r of the fire 
branch of the Commercial Union. Mr. Morant is prominent in musi- 
cal circles and was the organizer of the Insurance Musical Club of 
"^iQ^iondnn 

Morris, John £., assistant secretary of the Travelers insurance 
company, was born at Springfield, Mass., about 1848. He was in the 
employment of the Charter Oak bank of Hartford, with the exception 
of three months' absence with the 22d Connecticut regiment in the war 
from 1860 to 1864. In the latter vear he obtained a clerkship in the 
Travelers and has remained continuously with the comi>any since, 
having been appointed assistant secretary in May, 1874. 

Mortgages, Insurance of. [See New York Mortgage Insurance 
Company.] 

Morton, Bagly & Morton, of New York. Circulars were re- 
ceived by agents in various parts of the country in the spring of 1899, 
signed by the above, offering "undercTOund*' fire insurance at very 
low rates in the following companies: Macon of Macon, Ga.; Atlanta 
Home of Atlanta; Georgia Home of Columbus, Ga. ; Merchants' Mutual 
of New Orleans; Crescent of New Orleans; Southern of New Orleans; 
Firemen's of New Orleans; Peabody of Wheeling; German of Wheel- 
ingr; Palatine of ManchesVer; Quebec of Quebec, Can.; Imx>erial of 
Calcutta. The state auditor of Indiana having black-listed these com- 
panies, all of them being reputable companies except the last, investi- 



MULLIKIN, J. K. 



216 



gation proved that no Ann with the aboTe name had actual exUtendb; 
that it was personated by a Philadelphia broker named Dennison, who, 
upon being exposed, ran away. A number of agents and others who 
had remitted premiums to this person lost them. 

Hone, Oilford B., of Morse & Slade, New York managers for 
the Massachusetts Mutual Life. [See Death Roll.] 

Moantain Field Clnb was organized at Denver, Col., June 2, 
1802, by general and special agents and managers of fire insurance 
companies doing business in Colorado, Wyoming, and New Mexico. 
The dub is social and advisory in its character, uie idea upon which 
it was founded being to harmonize the interests of the companies 
within the territorymentioned, it having been a sort of debatable ground 
over which the Western Union and Pacific Insurance Union have 
concurrent jurisdiction. 

At the organization meeting the following officers were elected: 
President, W. A. McGrew, general agent of the Atlas of London; 
vice-president, P. A. Thompson, secretary of the Denver Fire insur- 
ance company; secretary, C. R. Tuttle, special agent of the Conti- 
nental; executive committee, W. A. McGrew, A. 0. Heltzell, special 
acrent of the London and Lancashire; George W. Neil, special agent 
of the German- American ; and C. B. Colby of the Niagara Fire. At 
the annual meeting in June, 1898, Mr. Thompson was elected presi- 
dent; Mr. H. T. Lamey, vice-president; and Mr. Colby, secretary. 
The number of companies represented in the club is 52. They are as 
follows: 



ifitna of H&rtf ord. 
Alltuice of London. 
American of Newark. 
American Fire of Philadel- 
phia. 
Atlas of London. 
Acricaltaral. 
Baiols of Switxerland. 
Britiah America. 
Commercial Union. 
ConnectlcatFire. 
Concordia. 
Continental. 

Detroit Fire and Marine. 
Delaware. 
Denver. 

Fireman^B Fand. 
German-American . 
German of Freeport. 

Knllikin, J. R., secretaiy of the Merchants insurance company of 
Newark, N. J., was born at New Brunswick, N. J., November 1, 1838. 
He graduated from the Kentucky Military Institute in 1861 and joined 
the 85th Indiana volunteers as a captain and participated in some of 
the severest battles of the war. He afterwards entered the regular 
army, from which he retired in 1870. Col. MuUikin embarked in the 
insurance business in Philadelphia in 1871, in the office of Gen. Louis 
Wagner. He was subsequent! v appointed special agent for the Narra- 
gansett, Roger Williams, and Merchants' insurance companies of 
Providence. In 1875 he went into the service of the Merchants of 
Newark, as a special agent and in April, 1880, was elected to succeed 
Mr. Powles as secretary. ^,y ,.<.. ., ^ _ ^^^^ 



Hartford Fire. 
Home Mutual . 
Helvetia Swias. 
Hamburg Bremen. 
Insurance Co. of North 

America. 
Lancashire. 

London and Lancashire. 
Liverpool and London and 

Glohe. 
Merchants of Newark. 
National Fire of Hartford. 
National of Dublin. 
Niagara Fire. 
New Zealand. 
Northern of London. 
Norwich Union. 
New York Underwriters. 



Oakland Home. 

Palatine. 

Pheniz of Brookljm. 

Phoenix of Hartford. 

Providence- Washington. 

Prussian National. 

Rockf ord Fire, 

Royal. 

Springfield Fire and Marine. 

State, of Des Moines. 

St. Paul Fire and Marine. 

Security. 

Spring Garden. 

Sun of London. 

Sun of San Francisco. 

Traders. 

Union of Philadelphia. 

Western of Toronto. 



316 Mutual Bbhsvit Lifb Amooiatiok of Amsbioa. 

"^ Mullliis, Charles F., manager for the Commercdal Unioii of 
London for the Pacific coast, was born in London, and began his busi- 
ness career in the office of the Commercial Union. He was afterwards 
superintendent of agencies and assistant manager of the New York 
branch. He was transferred to the position of resident secretary at the 
Chicago office in 1878, and in 1884 was appointed manager of the 
Pacific coast branch. Mr. Mullins is the oldest employe of the Com- 
mercial Union, as to length of service, in the United States. 

Mnnkittrick, Alexander, Sen., late manager for the Equitable 
Life Assurance Society for Great Britain. [See Death Roll.] 

Murray, John W., vice-president of the German-American insur- 
ance company of New York, is a native of Scotland, where he was 
born October 81, 1884. He was brought to the city of New York when 
less than two years old and was reared and educated there. His busi- 
ness life benn May 7, 1850, as an errand boy in the New York agency 
office of the Insurance Company of North America. Three years later, 
when but nineteen years old, he was chief clerk in the office of the 
Mercantile insurance company of New York. In March, 1888, he re- 
ceived the appointment of secretary of the Yonkers and New York 
insurance company. He was one of the organizers of the German- 
American in 1872 and its first secretary. The following year he was 
elected vice-president, and he has now held that office twenty years. 
He was secretary of the National Board of Fire Underwriters in 1880. 
Mr. Murray is interested in manv corporate and public enterprises. He 
is vice-president of the Title Guarantee and Trust Company of New 
York, president of the Dime Savings Bank of Plainfleld, N. J., a 
church trustee, etc., and has been president of the Board of Education 
and of the Republican Association of Plainfield. 

Mnaarrave Insarance Fraud. B. R. Musgrave was tried at Terre 
Haute, Ind., in January, 1892, for conspiracy to defraud life insur- 
ance companies and was convicted and sentenced to ten years' impris 
onment at hard labor in the Indiana penitentiary. Musgrave obtained 
insurance on bis life for $80,000 in several companies. It was proved 
that he bought a skeleton at St. Louis for |125. This he'placed in the 
house in which he was living near Terre Haute. He set fire to the 
premises and then disappear^ from the neighborhood. The skeleton 
was found in the ruins of the burned building. Confederates identi- 
fied it as his and prepared proofs of death which were presented 
to the insurance companies. But Musgave was seen soon afterwards 
in Chicago. Detectives hunted him down, captured, and brought him 
back to Terre Haute, where he stood trial as related. An accomplice, 
named Charles M. Trout, was also convicted. 

Mutual Benefit Life Association of America was incorporated 
and began business under the assessment laws of the state of New York 
on January 19, 1888. Its principal office is in the city of New York. 
Its growth was rapid and a large business was written until in 1889. it 
experienced difficulties arising from malfeasance in office of its presi- 
dent, Edward H. Cent, for which he was subsequently removed from 
office. He was succeeded by the present incumbent, William H. 
Whiton, who has been able in a great measure to restore public confi- 
dence. J. Trumbull Smith and James C. Peabody are vice-presidents; 



Mutual Lifb and Acczdbnt Undbbwbitbbs. 217 

F. LeRoy Satterlee, M.D., medical director, and E. T. LoTatt, counsel. 
The secretary is Fi^deric H. Calkins, who has been connected with 
the association since its organization. The association had $10,647,- 
iOO iasurance in force on December 81, 1802. The death losses paid 
by the associHtion from the beginning of business until December 81, 
1892, amounted to $1,860,167. It has a reserve fund deposited with 
the Farmers' Loan and Trust Company of New York as trustees, of 
$110,185.38. It total assets December 81, 1892, were $148,560.52. and 
its total actual liabilities $28,965.48, leaving a balance of $114,595. 
Ill 1892 it paid $166,288 to policy holders, doing business in the most 
thriving localities in the Union. 

Mutaal Fire Insurance Companies Betlred In 1892. [See Re- 
in.*^ured and Failed Companies.] 

Mutual Fire insurance company of New York, its risks having 
been reinsured in December, 1891, bv the Lancashire, resumed busi- 
ness in January, 1892, with J. C. Hatie, late secretary, as president, 
(succeeding P. B Armstrong), and J. W. Durbrow as secretary. It 
was announced that the company would write large lines on well pro- 
tected risks only, from the home office mostly. 

Mntnul Life and Accident Underwriters. ~ The seventeenth 
annual convention of Mutual Life and Accident Underwriters (assess- 
ment plan) was held lat Buffalo, N. Y., June 28, 29, and 80, and 
July 1, lb9'3 President William Bro. Smith occupied the chair. 
Fori V associations were represented at the opening of the convention 
and there were also present thirty-nine medical, honorary, and indi- 
vidual members. Mayor Bishop of Buffalo was introduced to the 
convention and made a brief address of welcome. 

I^eports from the vice-presidents of several states were read, after 
^%hicb the report of the executive committee was presented by the 
chairman, George D. Eldridge. The following statement was made 
of the business of insurance associations, including fraternal benefi- 
ciary orders, on the assessment plan, in the preceding year: 

Number of compaDles reporting, either in fall or in part, .... 466 

New members admitted daring 1801, 666,698 

New Insurance written daring 1891 $1,886,078,690 

Number of members at close of 1891, 3,967,288 

Insnrance in force at close of 1891. $6,986,563,000 

Amoantof payment by members during 1891, 66,891.768 

Total income daring 1891, 76,183.465 

Death claims paid durinff 1891, 49,7^,600 

Expense of conducting tne business 16,710,610 

AsiNits, invested and otherwise, close of 1891, 87,011,108 

Total losses paid since organization, 398;M6,8S4 

The report congratulated the association on the prosperity and 
magnitude of the business in which they were engaged. There were 
difficulties still to be met : 

Crude laws placed on oar statate books through ignorance, or becanse the business 
was misunderstood, have to be corrected and their consequences overcome. These laws 
have fostered the organization of numerous institutions for which no real reason ex- 
isted. In some states the number has reached preposteroas proportions, and as new 
and more intelligent laws are adopted it is inevitable that many of these companies 
most pass out of existence, either because there is no work for them to do, or because 
there are other institutions l>etter fitted for it This reduction in the number of com- 
panies, which in the present condition of the business is inevitable, is sore to be misun- 
stood by man^, and misrepresented by others. It will be pointed to us as a proof tha( 



218 Mutual Lav aud Aocidbivt UHDSBWBiTBBfl. 

the boflineM is in its decadence, while in troth it wHI be hat a proof that it has paaeed 
the days of experiment, and has settled down to more clearly defined principles and 
a more vigorous standard for the secaring of socoeas. 

Papers were read during the sessionB of the convention by Dr. 
Horace G. Hill of Philadelphia on "The Element of Uncertainty in 
Recent Risl^s " : Dr. Gkoi^e L. Brown of Buffalo on " Heredity " ; 
George D. Eldridge on " What is the Cost of Insurance in a Mass of 
Insured Lives Subject only to the Normal Action of the Laws of Mor- 
tality and Lapse?*' Dr. George W. York of Buffalo on "Alcoholic 
Risks/' and L. G. Fouse on ''Should an Association Insuring on the 
Level Rate Plan, Periodically Ascertain Whether its Accumulations, 
together with the Present Value of Future Payments, are Sufficient 
to Discharge Its Future Obligations ; if so. How Often and by What 
Methods? ''(with tables). 

The following topics were discussed during the continuance of the 
convention: "Can any practicable method be devised by which the 
companies, members of this convention, can investigate the rate of 
mortality among rejected risks? " ; "Has the exi>erience of the several 
companies in their efforts for business during the past year been satis- 
factory as regards the attitude toward them of competing compa- 
nies?'*; "Mortality rate among the different nationalities, and what 
race or nation furnishes the largest proportion of losses " ; "What has 
been the experience of members of this conveiftion in the presentation 
of fraudulent claims? What means have been or should be adopted 
to prevent or detect such claims? " 

The report of the committee on legislation, presented by Mr. Mur- 
ray, was followed by a discussion of the statement that the organiza- 
tion known as the International Accident Underwriters' Association 
had antagonized this association, and had endeavored to obtain le^s- 
lation at Albany, through the statutory revision comniission, which 
would serve to the advantage solely of the accident insurance compa 
nies and leave the life associations " wholly without legal protection 
or recognition." This charge was disputed by representatives of the 
accident companies in the association, who were also members of the 
International association, but after a warm discussion the report of 
the committee was adopted by a vote of 44 to 12. 

The committee on the subject of " What are the Distinguishing 
Features of the Old Line or lievel Premium and Assessment or Na- 
tural Premium Systems of Life Insurance?" reported through its 
chairman, Mr. 0. E. Hambleton. The differences were formulated 
by the committee as follows: 

" Old Line " or Investment Life Insurance is a financial contract which may he 
contingent upon the happening of any event in life, as indicated by their endowment, 
tontine, annuity, term payment, and otber plans. 

Assessment or Natural Premium Life insurance is a contract contingent only open 
the death or physical disability of the insured. 

Investment Life Insurance is based upon a fixed nuudmnm cost, to be paid in ad- 
vance, beyond which it has no recourse upon its policy-holders, which maTJmnm cost ia 
detesinined from a standard mortality table. 

Assessment or Natural Premium Life Insurance is based upon actual cogt, the prob- 
ablliW of which, less the reserve and expense element, is estimated upon the same 
standard mortality table, and has recourse upon Its members to the extent of its mortu- 
ary liabilities, plus a fixed or limited expense. 

Investment life Insurance combines with insurance a system of banking or invest- 
ment, the capital for which Is an element of the annual cost, and Is advanced bv tbe 
^snred as an investment to meet the payment of his policy when it be^mes a dalm^ 



Mutual Life and Accidbnt Uhdbrwbitebs. 319 

and to earn a profit to be used in rednciiig the ooet of his inearance. Thia most he kept 
intact for the porpoee for which it ia advanced, and being thus pledged, beoomee a Ifa- 
UUty of the company. 

Aneasment or Natoral Premium Life Inanrance eliminates the reeerve elements, 
contemplating that the current liabilities sliall be paid whoHy or in part by an assess- 
ment upon its members and from accretions from lapses or other sources, and substi- 
tute:* for the reserve the accumulation of a reasonable emergency fund, to secure uni- 
formity in assessments and to protect the entire francbise whenever its safety ia threat- 
ened. Not being pledged to the individual members, it is an asset of the company. 
This excess over actual cost in the Assessment or Natural Premium companies is for 
safety, and being equitably contributed, if no emergency arise, is equitably returned to 
the insared, and does not constitute an investment for profit. 

Investment Insurance, in its elements of fixed benefit liability on the part of the 
Company and a premium liability on the part of the policy-holder, limited to a pre- 
detennined sum, presents the factors for a determinable reserve, which, by the inherent 
nature of the contract, and independent of any legal enactment, is at all times a lia^ 
bility of the Company to the individual policy-holder. 

AfiBOflament or Natural Premium Insurance, while retaining the fixed benefit lia- 
bOity on the part of the Company, couples therewith a premium liability for mortality 

Kurpoees, limited, not by a fixed or artificial sum, but only by the actual mortality cost 
ivolved in the future erauting of life insurance, and thus makes the two liabilities, 
that of the Companv and the oolic^-holders at all times equal, and renders imi>ossible 
the establishment of a reserve uability by legal enactment, because such reserve is inde- 
terminable by the nature of the contract. 

The committee expressed the hope that ibis convention, as the 
highest exponent of natural premium life insurance, would give ex- 
pression to its sense of the purpose, capacity, and requirements of the 
system. In the discussion which followed, Mr. C. 0. Hine took ex- 
ception to the inclusion of the word " annuity'' in the definition of an 
"old line" life insurance contract. An annuity is the very opposite 
of life insurance. He thought that in speaking of an annuity as life 
insurance the association would be laying itself open to the imputation 
of an unfair definition. The report was, however, adopted without 
dissent. 

The proposition of the executive committee, advising the publica- 
tion of a series of articles in the public press, setting forth the princi- 
ples of assessment insurance, was discussed favorably by the conven- 
tion, and, on motion of Mr. J. J. Acker, the executive committee was 
instructed to prepare, or cause to be prepared, such articles and have 
them inserted in such publications as it shall deem best. 

Mr. B. F. Reinmund introduced resolutions calling attention to 
the action of Newton Briggs of Madison, Wis., a member of the asso- 
ciation, who had endeavored to secure the exclusion of the Covenant 
Mutual Benefit Association of Galesburg, 111., and Northwestern Mu- 
tual Life Association of Minneapolis, from Wisconsin, by arguing 
before the insurance commissioner and attorney-general of that state 
that they were "old line" companies, and therefore inadmissible under 
the assessment companies' act, and extending the confidence and esteem 
of this organization to the two companies as genuine assessment com- 
panies and expelling said Briggs from membership. Mr. Briggs 
appeared before the convention and defended himself, but the resolu- 
tions were adopted. 

The following oflScers were elected for the ensuing year : Presi- 
dent, A. W. Berggren of Galesburg, 111.; first vice-president, B. P. 
Dyer of Boston; second vice-president. Dr. D. W. Edwards of Min- 
neapolis; secretary, Nelson O. Tiffany of Buffalo; treasurer, John J. 
Acker of Albany; executive committee, George D. Eldridge of Was|i- 



890 Mutual Lifb Iksubakce Company of New Yobk. 

ini^toD, chairman; £. B. Harper of New York; Gtoorge A. Litchfield 
of Boston; Daniel J. Avery and H. W. K. Cutter of Chicago; and H. 
N. Kingsbury of Westfield. Mass. 

The officers of the medical section elected were: Dr. £. D. Wing 
of Galesburg, III., presideDt; Dr. J. F. Force of Minneapolis, vice- 
president; and Dr. Pliny W. Barber of New York citjr, secretary. 

The accident section held a meeting, June 28th, with Chairman H. 
W. K. Cutter, presiding. Papers were read by Mr. Trubey of Min- 
neapolis, on ''Co-operation in the Adjustment of Indemnity Claims," 
and Dr. Oviatt of 0»hkosb, on '* Modem Surgery in its Relation to 
Accident Assurance." The association named Chicago as the place of 
the next annual meeting, to be held in June, 1893, the date to be fixed 
by the executive committee. 

The present officers of the Mutual Life and Accident Underwriters, 
elected at the annual meeting at Chicago, in June, 1893, are: Presi- 
dent, Colin McDougall of St. Thomas, Ont. ; first vice-president and 
chairman of the accident section, B. F. Dyer of Boston; second vice- 
president, D. W. Edwards of Minneapolis; secretary, J. N. Russell of 
Los Angeles, Cal. ; treasurer, John J. Acker of Albany, N. Y. ; execu- 
tive committee, George D. Eldridge, chairman ; Edward B. Harper, 
Geoi^ A. Litchfield, D. J. Avery. H. W. K. Cutter, W. Bro. Smith, 
W. F. Barnard, secretary. 

Mutual Life insurance compan}r of New York celebrated its jubi- 
lee on the fiftieth anniversary of its incorporation, in 1892. 

The annual election of the company was held June 6, 1892, and the 
following trustees of the class of 1892-96 were elected: Oliver Uarri- 
man, Dudley Olcott, Col. S. V. R. Cruger, Col. George Bliss, Charles 
R. Anderson, Rufus W. Peckham, John W. Auchincloss, General 
James W. Husted, David C. Robinson, H. Walter Webb, and Qrls- 
WQ^d Haven. Mr. Webb and Mr. Haven were new members. 
^^In response to a call of the New York Chamber of Commerce for 
stmcriptions to a fund to meet the exigencies that might arise in pro- 
tecting the public health against cholera, the company on September 
14, 1892, subscribed $20,000, this being in addition to $20,000 pre- 
viously subscribed to a city f und^if in the judgment of the municipal 
authorities it should be needed. ^ 

The Mutual Life insurance com pan v was incorporated by a special 
act of the New York legislature passed April 12, 1842, and began bus- 
iness in February, 1843. Section 8 of the act of incorporation made 
all persons insured with it members of the corporation. It provided 
for thirty-six trustees, who were to be citizens of New York, to be 
elected in classes of nine each year, their term being for four years. 
The trustees were to elect officers. At every period of five years after 
the organization the officers were to cause a balance to be struck of the 
affairs of the company, and to credit each member with an equitable 
share of the profits of the company. Such piofits were, however, only 
to be paid at the death of the insured. The shares of members who 
failed to pay their premiums went to the benefit of the company. 
These quinquennial balance sheets were open to the inspection of any 
member during the usual hours of business for the term of thirty days. 
A. special t^ct m 1862 gave the company authority to apply dividends 



Mutual Life Inscran^^b Compant of New Yobx. 421 

eitber to the purchase of additional insurance or to the redaction of 
premiums. 

Prominent among the organizers and one of the first trustees, was 
Alfred Pell, who probably understood more of the business than any 
of his associates. He resigned in 185*3 to accept the jmanagement of 
the Liverpool and London insurance company for the United States. 
Morris Rol)inson was elected the first president of the company and re- 
mained at its head until his death in May, 1849. Joseph B. Collins 
was elected as his successor, but his administration was not a brilliant 
one, and in 1853 Frederick S. Winston was chosen to succeed him and 
remained at the head of the company until his death in March, 1885, 
a continuous service rarely equaled in duration or in results. His 
successor, Mr. McCurdy, had had nineteen years' service as vice- 
president, when he was called to the chair vacated by Mr. Winston. 
In nearly fifty years the company has had but four presidents. The 
following compose the present board of trustees: Samuel D. Babcock, 
George 8. Coe, Richard A. McCurdy, James C. Holden, Hermann C. 
Yon Post, Alexander H. Rice, Lewis May, Oliver Harriman, Henry 
W. Smith, Robert Olyphant, George F. Baker, Dudley Olcott, Fred- 
eric Cromwell, Julien T. Davies, Robert Sewell, 8. van Rensselaer 
Cruger, Charles R. Henderson, Qeorge Bliss, Rufus W. Peckham, J. 
Hoban Herrick, William P. Dixon, Robert A. Granniss, Henry H. 
Rogers, John W. Auchincloss, Theodore Morford, William Babcock, 
Stuyvesaut Fish, Augustus D. Juillard, Charles E. Miller, James W. 
Husted, Walter R. Gillette, James £. Granniss, David C. Robinson, H. 
Walter Webb, and George G. Haven. 

Officers— Richard A. McCurdy, president; Robert A. Granniss, 
vice-president; Walter R. Gillette, general manaser; Issac F. Lloyd, 
2d vice-president; William J. Easton, secretary; Frederick Schroeder. 
assistant secretary; Henry E. Duncan, corresponding secretary ; Archi- 
bald N. Waterhouse, auditor; Emory McClintock, LL.D., F.LA., 
actuary; John Tatlock, Jr.. assistant actuary; Charles B. Perry, 
second assistant actuary; Frederic Cromwell, treasurer; John A. 
Fonda, assistant treasurer; William P. Sands, cashier; Edward P. 
Holden, assistant cashier; William G. Dayies, general solicitor; Wil- 
liam W. Richards, comptroller; Gustavus S. Winston, M.D., E. J. 
Marsh, M.D., Granville M. White, M.D., medical directors. 

General Agents — The present list of general agents is: 

0. F. Bresee, general agent for Maryland, Diatiict of Colambia, Virginia, and 
North Carolina. Address O. F. Breeee & Sons, Baltimore, Md. 

John W. Nichols, general agent for Connecticut ; New Hayen, Conn. 

Derick L. Boardman, general agent for Northern New York. Address D. L. Board- 
man & Son, Troy, N. Y. 

A. B. Forbes, general agent for the Pacific Coast. Address A. B. Forbes & Son, 
Han Francisco, Cal. 

Charles H. Raymond, general agent for New York City, Long Island, and Staten 
Inland ; Mutual Life Bnilding, 69 Cedar street. New York. 

George B. Raymond, general agent for New Jersey ; 745 and 747 Broad street, New- 
ark, N. J. 

Lewis C. Lawton, general agent for Ohio. Address L. C. Lawton A Son, Cleveland, 
Ohio. 

W. F. Allen, general agent for Utah, Nebraska, North Dakota, South Dakota, and 
Wyoming: Omaha, Neb. 



Minn. 



Charles F. Ulrlch, general agent for Soathem New York ; Yonkers, N. Y. 

W. F. Peet, general agent for Minnesota. Address E. W. Pect A Son, St. Paul, 

John L. Steams, general agent for Colorado ; Denver, Col. Digitized by GoOqIc 



^d Mutual Life IhsuraHcb OouPamt op Kbw ¥oiuL 

T. Chlnholm Livf ogston, general agent for Xaaitoba and Nortiiweet Canada ; Wfai- 
nlpeff. Man. 

Cnarles H. Ferguson, general agent for IlllnoiB ; Chicago, III. 

Farette Brown, general agent for Province of Qoebec and Eastern Ontario ; Mon- 
treal, Canada. 

Henry K. Menitt, general agent for Western Ontario ; Toronto, Canada. 

T. H. Bowlea, general agent for Wlaconstn and Northern Michigan ; MUwaokee, 
Wit. 

W. H. Lamhert, general agent for Pennaylrania and Delaware ; Mntoal life BnSld- 
ing, Philaddphia, Pa. 

James w. Fltspatrick, general agent for Maine; Portland, Me. 

C. A. Hopkins, genenu agent for Bastem MaaBachaaettB ; Mntoal Life Building, 
Boston, Masa. 

Frederick H. Jackson, general agent for Rhode Island ; Providence, R. I. 

Georce H. Satton, general agent for Western Massachosetts ; Springfield, Mass. 

J. 8. Wilcox, general agent for Alabama ; Montgomery, Ala. 

O. B. Johnson, general agent for Florida ; Jacksonville, Fla. 

F. H. Hyatt, general agent for South Carolina ; Colombia, S. C. 

R. H. Cneney, general agent for New Hampshire and Vermont Addreas Cheney, 
Shartlefl A Cheney, Manchester, N. H. 

£. F. Berkeley, Jr., general agent for Kentucky : Louisville, Ky. 

Biscoe Hindman, general agent for Tetmessee : Nashville, Tenn. 

CUudo Buckley, general agent for West Virginia ; Wheeling, W. Va. 

R. F. Sheddon, general agent for Georsla ; Atlanta, Qa. 

J. A. Johnson, genera] agent for Marinme Provinces of Canada ; Halifax, N. S. 

J. B. Baker, general agent for Missouri, Arkansas, and Indian Territory. Address 
Baker Bros., SL Louis, Mo. 

D. A. Dyer, general agent for Northern Texas. Address Dyer Broa., Dallaa, Texas. 
Edwin Chamberlin, general agent for Southern T^as ; San Antonio, Texas. 
John E. Lord, general agent for Kansas ; Topcka, Kansas. 

C. B. Newlin, general agent for Central Indiwia : Indianapolis, Ind. 
Thomas Merrio. general agent for Northern Indiana ; Fort Wayne, Ind. 
Alexander Hntcomson, general agent for Southern Indiana ; EvansviUe, Ind. 

W. A. Hamilton, general agent for Western Indiana. Address Riddle, Hamilton, A 
Co., Terre Haute, IndV 

Schuyler Grant, general agent for Southern Michigan ; Detroit, Mich. 

F. A. Babcock, general agent for Western New York ; Buffalo, N. T. 

Robert J. Flaming, general agent for Iowa. Address Fleming Bros., Des Moines, 
Iowa. 

S. H. Newman, general agent for Southwestern Texas and New Mexico; El Pnao. 
Texas. 

F. D. Post, general agent for Louisiana and Mississippi. Address Poet A Bowlea, 
New Orleans, La. 

T. Howard Lewis, general agent for Delaware and Eastern Shore of Maryland and 
Virginia ; Wilmington, Del. 

Chas. E. Bayliis, general agent for Central New York ; Rocheeter, N. Y. 

Charles Sommer, director-general for the Republic of Mexico ; 942 Apartado, CHty 
of Mexico. 

Bembard J. F. Voss, director for North Germany ; Neuerwall 86, Hambure. 

Carl Freiherr Von Gablenz, director for Central and South Germany ; Slarkgra- 
fen Strssee C8. Berlin, W. 

Z. C. Rennie, general manager for Australia ; 181 Pitt street, Sydney, N. S. W. 

D. C. Haldeman, general manager for Great Britain and Ireland ; 17-18 ComhIU, 
London, E. C. 

Paul L. Baudry, director-general for France ; Boulevard Montmartre 90, Paris. 

Bmll W. Machler, generaimanager for Belgium ; 67 Rue de la Rfigence, Brusada. 

Oscar Von Beck, general manager for Norway, Denmark, and Finland ; Niela 
Jnelsgade 6, Copenhagen. 

ckv. Giuseppe Garabaldi Coltelletti, director-general for Italy ; 96 Plasaa Fbntane 
Maroee,Genoa. 

A. Von BtUnger, general manager for Austria :Lobkowits Plata 1, Vienna. 

Gnstav Stem, general manager for Hungary ; B^i Utzca Q, Budapest. 

A. McCorkindale, general manager for Cape Colony, Orange Free State, Natal, and 
the South African Republic ; 86 Adderley street, Cape Town. 

Theodore Luns, general manager for Holland : ueeiengracht 086, AmsterdaoL. 

E. Wheatlev Jones, general agent ; P. O. box 1, Hamilton, Bermuda. 

Arturo Baldasano Y. Topete, director-general for Spain; AlcalA 88 Principal, 
Madrid. 

Hana de Greill, director for Rhenish Prussia ; Cologne. ^ t 

Digitized by VjOOQIC 



MUTT7AL LiFS InSURAHCB OoMPAJSTt OF KeW YoRK. ^ 

Christian A. S. BolUider, general manager for Sweden ; Bolinderska Haaet, Stock- 
holm. 

Vittorio D^Aste. inspector-general for Sonfhem Italy : Kaplee. 

IDias Schwabacher, special agent for Barope ; 85 bis, Roe Saint Qnentin, Paris. 

Bmst Yon Btlinger, general agent for Western Bohemia ; Grabeu 17, Prague. 

The doM of the first quinquennium of the business of the Mutual 
Life was naturally an interesting period in its history, as that was the 
time fixed by its charter for a declaration and apportionment of profits. 
The president's annual report said : 

" We have now reached the close of the fifth year's business of the 
company, when, bv a proyision of the thirteenth section of the charter, 
the first division of profits is to be declared. At this interesting epoch 
the trustees feel gratified in exhibiting to the members in this their fifth 
annual report a remarkably sound and prosperous condition of the af- 
fairs of the institution, and of announcing to them a very large accumu- 
lated fund of $550,878, from which we deduct an ample reserved fund 
of $195,985 for the increased risks of the advanced ages of the parties 
insured, leaving a surplus of $855,648, which gives a dividend of 52 
per cent, on the amount of premiums paid on all ezistins; policies run- 
ning to maturitv on the 81st of January, 1848. A dividend of 52 per 
cent, was accordingly declared, which has been placed to the credit of 
the parties entitled to it on the books of the company, payable at death 
together with the sums insured. 

" In the progress of this institution the period of its first distribution 
of profits has bMn looked to by the members as of immense importance 
as regards its future prospects and welfare. The business of the com- 
pany thus far has been in the highest degree satisfactory. Its first five 
years' experience shows a success unexampled, and has fully tested the 
principle that the cash system of purely mutual life insurance is prac- 
tically sound and eminentlv beneficial to the parties insured. . . . From 
the data before us we premct that the company will have, on the 1st of 
February, 1858, an accumulated fund of over two millions of dollars, 
and to realize this we need only the same ratio of increase of the busi- 
ness of the ensuing five years as that of the past term just terminated, 
and the probability is strongly in favor of an increase on that business 
for the next five years." 

The prediction that in 1858 the assets would reach two millions was 
verified, the report of January 81, 1858, showing assets $2,060,649. An- 
other prediction made in the sixth report has been more than realized. 
It was to the effect that it would not be a matter of surprise to see the 
company at some future time disbursing in one year in death claims 
three and a half milUions of dollars, a figure which the London Equit- 
able had then reached. In 1890 the Mutual Life paid in death claims 
ei^ht and a half millions, besides one and three-quarter millions in en- 
dowments. 

The Mutual Life insurance company and its experience has been of 
immense value to the business of life insurance, and its officers have 
given the results of that experience to the world, unreservedly. It 
was a research into the mortality records of that company which re- 
sulted in the publication in 1859 of the American Experience table of 
mortalitv, made up of that company's experience and such other 
authenuc records as could be had. This table was afterwards adopted 
by a great number of states for official valuations of policies. In 



iU Mutual ftBaBRYE Fund Lnrs AeaociATtoK. 

1876-7 the oompany published iU mortalitj experience cohering over 
thirty years, both actuarial and medical. These two volumes are the 
most elaborate publications of the kind which have been made in the 
United States. They were the precursors of the many like publica- 
tions which have since given us an American experience to which noth- 
ing can be added from that of the English tables, and which leaves 
nothing to be desired. In other lines of publication also, the Mutual 
Life has been a generous contributor, either as publisher or through 
members of its staff, to the literature of life insurance. Its annual re- 
ports are in themselves a library of useful information about the com- 
pany and the "business. 

The annual report for 1892 showed assets of $175,084,166.61. in- 
vested as follows: 

BealEsUte $15.«8a.8B4.96 

Bond and MortsaKe LoftDff 60,348.09S.M 

United States Bonds and other Securities, as,890.484.«i 

Loans on Collateral Secaritles. 10,894,597^ 

Cash in Banks and Tmst Companies at Interest, 7,808,619.65 

Interest accmed, Premioms deferred, etc, tt,07S,474^ 

The liabilities are: 

Reserve, American, 4 per cent, $150,181,087^ 

Other Uabilitiea, 7M,866.67 

Surplus, 1&,168,«S.M 

The receipts for 1882 were, for premiams and annuities, $32,047,- 
765.84; from interest, dividends, other debts, rents, and profits, $8,191,- 
099.90. The payments to policy-holders in death claims, endowments, 
annuities, surrendered policies, and dividends, were $19,886,582.46, 
the expenses and taxes were $7,419,611.08, total disbursements, 
$96,806,148.54. 

Mataal Reserve Fund Life association of New York was incor- 
porated and began business February 9, 1881, under chapter 267. laws 
of 1875. Edward B. Harper, who is still at the head of the associa- 
tion, was elected president, and William A. Butts, secretary. Cooper- 
ative, or assessment insurance, was adopted. In 1888 the association 
was re-incorporated under chapter 175, laws of 1888, providing for the 
incorporation and regulation of cooperative or assessment life and 
casualty insurance associations and societies. The business has been 
conducted under this statute since the re-incorporation. The founda- 
tion principle of the association is the collection of only such an 
amount of money from its members as may be required to pay the 
death claims in full and the legitimate expenses. Any excepa col- 
lected for the reserve or emergency fund is returned at stated periods 
to the certificate-holders. The reserve fund can be used for three 
purposes: 1. In payment of death claims in excess of the maximum 
rate. 2. Inmakinggoodany deficiency in the mortuary account. 8. For 
the benefit of members continuing ten years, being annually thereafter 
apportioned and credited on future payments. Any apportioned surplus 
standing to the credit of any policy in force will be paid to the bene- 
ficiary in addition to the amount of the policy in case of the death of 
the insured. The interest income from the reserve fund now exceeds 
$125,000 annually, which, as it is received, is applied towards the pay- 
ment of current death claims, thereby reducing the cost of insurance 
to the members. Calls for mortuary premiums and dues are made 



Mutual Abseryb l^nm> Life AssociAtioN. 



^25 



every two months, the first in each year being issued in February. 
The amount must be paid within thirty days from the date oC the call 
under forfeiture of the certificate or policy. Deposits in adrance on 
account of these premiums and dues may be made annually or semi- 
annually. Members upon joining the association are not liable for 
any mortuary calls issued within three months from the date of certifi- 
cate or policy. In case the premium paid in advance as deposit on 
account in any year should exceed the amount required for the mor- 
tuary and reserve funds, the surplus will be credited on the next year's 
payment, or, in event of the death of the insured, will be retfirned to 
the beneficiary. 

The association was formally admitted to the states of Pennsylvania, 
Massachusetts, and Connecticut in 1885, the date of admission to the 
former being June 29, and to the latter July 29. Admission to New 
Jersey was acquired May 17, 1887, Ohio in 1886, and Missouri July 14, 
1884. June 26, 1885, the association was thoroughly examined by the 
New York department, the ordeal being passed with satisfaction to 
the department and the association. Since the New York examina- 
tion, as well as prior thereto, the Mutual Reserve Fund Life has been 
subjected to exacting official tests by other state insurance authorities 
and meeting them in all cases. Its business has been extended through- 
out the country. Its operations since the association was incorporated 
in 1881 will appear from the following figures, which have been col- 
lated from the annual reports of the New York department: 



Year. 


Number cer- 
tificates in 
force. 


Amoant of 
Insarance. 


Income. 


Expendi- 
tares. 


Net or in- 
yested assets. 


1881 


I,fi09 


$7,688,090 


$84,660 


$28,627 


S;^ 


1883 


7,908 


86.190,760 


Jfl0f»68 


146,441 


1883 


14,846 


68,808,600 


e'i7.i4o 


688,888 


169,946 


1884 


»,779 


85,468,000 


Mf.,«l 


780.278 


860,7r6 


1885 


81,088 


106,868,600 


l,frl 1.-79 


1.266,588 


689,879 


1886 


87,968 


160,176,270 


l,i^:im 


1,608,079 


989,040 


1887 


4a,0S6 


156,664,100 


0,4'i-;^89 


1.925,969 


1,472,800 


1888 


47,098 


168,908,850 


0,71 1, sl4 


2,230,261 


1,953,754 


1880 


68,016 


181,868,000 


8,ln-,ri96 


8,649,760 


8,618,680 


1890 


68,616 


197,008,486 


8,r -49 


8,971,859 


0,980,179 


1881 


64,670 


816,007,910 


8,C.iiij26 


8,049.868 


8.384,487 


1802 


70,840 


286,421,790 


4,('-.r7,-j48 


8,791,087 


8,090,598 



The death losses paid by the association from the commencement 
of business until December 81, 1892, amounted to $14,739,879. The 
amount paid to the association by deceased members during the period 
in question was |1, 881, 864. The officers and directors of the Mutual 
Reserve Fund Life association are: 

Sdward B. Harper, New York dtr, president. 

O. D. Baldwin, New York city, Tlce-president. 

Hon. Henry J. Reinmnnd, ex-snperintendent of insurance, state of Ohio, New 
York city, second vice-president. 

J. D. Wells, New York city, third vice-president. 

F. A. Bambam, New York city, connsel. 

Hon. John W. Vrooman, New York city, treasurer. 

O. R. McChesney, New York city, comptroller. 

Frederic T. Braman, New York city, secretary. 

James W. Bowden, M.D., New York city, medical director, 

L. L. Seaman, M.D., New York city, medical sapervisor. r^ t 

n Digitized by CjOOgle 



3^6 National AsaooiAtioir oi^ FnuB SirdnrBxfifl. 

SIChTlea R. Biwell, chaimun inT^itment committM. 

'^ Joha J. Acker, Albanr, N. T., past grand master A. O. IT. W. 

Anthony N. Bradj, Albanir, N. T., president Manlclpal Gas Co. 
0.i)&mael W^. Wrar. Philadelphia, Pa., grand secretary A. L. H. 

Judge John J. Grorman, New York city, sheriff city and county of New York. 

George H. Wooster, New York city, retired merchant 
jKCharfes W. Jackson, New York cit/, retired banker. 

Col. J. T. Griffin, London, Bnglana, treasurer. 
^E. R. Speira, F.S.8., London, Bngland, comptroller. 

Robert Mair, London, Bngland, asency manager. 

John Lowles, London, England, city manager. 

Snrgeon-General Sir W. Guyer Hunter. F7a.C.P., K.C.M.G., ILD., 65 and 66 Old 
Broad street. London. Bngland, chief medical director for Great Britain. 

Dr. Stephen H. Tyng, 8 Rae Hal^ry, Paris, France, director-general Ibr conti- 
nental Europe. 

A. N. Stockdale, oomptroUer. 

Jules Rochard, M.D., membre de r Academic de MMedne, medical director- 
general. 

Gapt Charles N. Ahlstrdm, director-general for ScandinaTia. 

Edward Forssberg, M.D., medical director for Sweden. 

Johs Nordalil, Erutiania, Norway, general agent for Norway. 

A. A. W. Petersen^openhagen, Denmark, seneral agent Ibr Denmaik. 

Ernest Bester, M.D., Altona, Hamburg, Germany, chief medical director Ibf 
Hamburg. 

Warring Kennedy, Toronto, Ont, wholesale dry goods. 

Hon. Henry L. Lamb, Troy, N. Y., late bank superintendent state of New York. 

Herman A. Niehoff, Carlisle, 111., clerk of district conrt 

William Wilson, Toronto, Ont., mannfkctarer. 

Hon. Isaac H. Shields, Philadelphia, Pa., attorney at law. 

D. B. Cameron, Toronto, Ont., aeputy proTinclai treasurer Ontario. 
J. M. Jordan, St. Louis, Mo., merchant. 

Fonlon De Vaulx, Paris, France, banker. 
A. R. Harrey, LlTerpooI, England, manager. 

E. D. Ludwlg, Erie, Pa., superintendent. 

H. M. Hitchcock, M.D., J. D. Gorman, M.D., and T. B. Campbell, New York 
city, assistant medical directors. 

J. M. Stevenson and B. W. T. Amsden, New York city, assistant secretaries. 

National Association of Fire Engineers. At the twentieth 
annual convention held at Louisville, Kj., October 4, 5, and 6, 1883, 
the membership of the association reported by the secretary was, 
active 235, state associations 18, associate 62, life 26, honorary 78, 
total 414,— beiae an increase of 89, compared with 1891. Addresaei 
were made by Mayor Tyler of Louisville, who welcomed the delegates 
to Louisville, and President Leshure. Papers were read as follows: 
Chief Osborne of Southington, Conn., on ** Organization and Manap^e- 
meat of Fire Departments in Small Cities and v illages." Chief Smith 
of Duluth on ''Best Method of Fighting Fires in Coal Docks," 
ex-Chief Hendricks of New Haven on the " Necessity of Having High 
Buildings Equipped with Fire Apparatus." John W. Stover on 
'* Improvements in Fire Alarm Telegraph," Chief Joyner of Atlanta on 
"Stairways as Fire Escapes," Chief Lemoin of Grand Rapids on 
"Fuel Oil and its Proper Storage," Chief Cluney of Jamestown, 
N. y., on ** Proper Methods of Fighting Fires in Cellars and Attica," 
and ex-Chief Goetz on "The Ideal Fire Department of the Future." 
President Leshure in his address approved of the scheme of the 
National Board of Fire Underwriters to establish a standard city, 
having a standard building, water-works, and fire department. A 



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Katiokal Asbociatiok o^ Life IJ'ndbbwiutkrs. 22t 

resolution was adopted that it was the sense of the convention that all 
appliances in the way of stand pipes and outside ladders, with inside 
connections, placed upon buildings should be erecj^ed under the 
supervision of the officers of fire departments and have their approval. 
Milwaukee was selected for their next annual meeting. The follow- 
ing officers were elected for the ensuing year: President, Edward 
Hughes of Louisville; secretary, H. A. Hills of Hartwell, O.; treas- 
urer, D. C. Larkin of Dayton, O.; Messrs. Hills and Larkin being 
re-elections. 

NationBl Assoeiation of Life Underwriters was the outgrowth of 
a conference of representatives of the Boston, New York, and Phila- 
delphia associations, held at Boston April 8, 1^1. It was decided to 
call a convention of all the associations in the United States to be held 
at Boston June 18. This meeting was held and the National Associa- 
tion of Life Underwriters was organized. Fourteen local associations 
were represented. George N. Carpenter of Boston was the first presi- 
dent. [For report of ue proceedings of the first convention see 
the Cyclopedia of Insurance for 1890.] 

The second annual convention was held at Detroit beginning June 
17, 1891. Twenty-three associations were represented. Charles H. 
Raymond of New York was elected president. [For report of the 
second convention see Cyclopedia for 1891.] 

The third annual convention was held in the city of New York 
September 21, 22, and 28, 1892, at the Carnegie Music Hall. Thirty 
local associations were represented, the rolls bearing the names of 147 
dele^tes and 85 alternates. A majority of these were present. 
President Raymond opened the proceedings of the first day ana prayer 
was offered by Maj. William H. Lambert of Philadelphia. The dele- 
gates were welcomed by President Blodgett of the New York associa- 
tion, who outlined the festivities which had been provided for their 
entertainment. 

After the roll of delegates had been called by Secretary Plummer, 
the president read his address. In the course of his remarks he said 
that there was one topic which, however carefully approached or 
delicately avoided, was everywhere in men's minds. Of this he said : 



A llssare in our wallt a leak in oar hall, is the unhappy and unsanctioned practice 
of rebate. It springn from illecal bargains ; it caoses invidioaa claaaifications ; it 
resoitfl in nnlast and weak-livea insurance contracts. We have discoseed these 
'q all their disgraceful features; we have adopted long series of resolutiona 
Its errors and injuries ; we have appointed and instructea committees to abate 
. Individually^ we have discouraged it by example, and collectively we have 
it by precept. Legislation haa been invokea to threaten and surround 
the terrors which menace misdemeanors, and a conscientious and colhibor- 



demerits in all their disgraceful features ; we have adopted long series of resolutions 
deploring its errors and injuries ; we have appointed and instructea committees to abate 
ius ravages. Individually, we have discouraged it b^ example, and collectively we have 
denounced it ' 
it with all the 

ating insurance press has eloquently exposed its improprieties and graphically illus- 
trated its enormities. But stUl, it — rebate — stalks the land like a pestilence. Quaran- 
tined at certain points by concerted action of courageous and exemplary men. It oreaks 
out at others with apparently renewed virulence. Illogical, unnecessary, merciless, it 
has destroved confidence among dealers and has debased the self-respect of those who 
practiced it. It is believed and hoped that this evil is to-day on the wane, and doubtless 
under tlie increasing influence of the national and local assoclationB it will be eventually 
stamped out, but not before it has done great wrong between man and man and lasting 
injury to the insuring community. 

The executive committee by its chairman, Mr. Tillinghast of Cleve- 
land, reported the admission of seven new associations to membership. 
On the subject of a memorial to be presented to the companies 



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Us KaTIOKAL AflSOOIATIOV OP Life t^NDEBW&tTBAA. 

regarding the practice of rebating the premiams of the assured, the 
following was proposed: 

The practice of rebatfn(? Is anlvereally i^arded as pernlcions and detrimental alike 
to the companies and to their reprmentativos. Carefal obeervation has confirmed the 
opinion that the honorable and intelligent amenta everywhere are opposed to iL Tlie 
anti-rebate laws which have been paiwed in many states, in every instance, were enacted 
as the result of eanief>t efforts bv the a^nts. This l^^lation did not form tlie aenti- 
ment hostile to rebating, but was the rofiult of It. 

Where snch laws are in force, self-respecting, lawabioing agents hare no alterna- 
tive but to obey, and it is a hardship that such agents should sometimes, no matter tkov 
infrequently, be brought in competition with Tees scrupulous men who secretly evade 
the law. Where no such laws exist many agents who greatly deplore the evil of rebating 
are by the severe strain of competition exposed to the temptation to violate their ooBTic- 
tions. With the admitted fact that the possible revival of the practice of rebatins will 
work untold harm to the great business of life insurance, ana as the great body of 
faithful representatives of the business are united in their efforts to exterminate the 
practice, and as it only remains for the companies to add to their cordial sympathy in 
the movement, definite co-operation; 

Therefore, be it resolved by the National Association of Life Underwriters that tbe 
companies — who need no assurance of the loyal devotion of their agents — are earnestly 
requested to promptly adopt snch measures as will exclude from the business all agents 
who may thereafter persist in the practice of rebating. 

The executive committee also proposed certain amendments to the 
constitution of the association ; the first providing that each local asso- 
ciation shall be entitled to five delegates to the convention of the 
national association , vacancies to be filled by substitutes chosen by the 
other delegates; the second fixing the number of officers and executiTS 
committee and their tenure of office. The committee recommended 
for indefinite postponement, consideration of a proposed bureau of 
information, the adoption of an emblem and the appointment of 
a committee to correspond with educational institutions for the pur- 
pose of ascertaining to what extent they now teach the principles 
of life insurance. 

Accompanying the report of the executive committee was a copy of 
the memorial address by tbe special committee to the national con- 
vention of insurance commissioners, calling the attention of that body: 
1, to the importance of enforcing the anti-rebate laws; 2, to the 
fraudulent endowment assessment orders; 8, to the pernicious practice 
of company and agency attacks on rival organizations, by use of 
anonymous, misleading, and abusive literature; 4, to the need of tbe 
removal of all state taxation of insurance or, if that is impracticable, 
to a reduction of it to a miuimuuL The report of the committee of 
the commissioners' convention upon the memorial was also included. 
That committee considered the matters in the memorial of such 
importance that it recommended the appointment of a special com- 
mittee to consider the same, to report at the next annual meeting of 
the insurance commissioner's convention. 

The treasurer reported a balance of |1.895.85 on hand. The con- 
vention then adjourned to participate in a steamboat excursion in the 
harbor. 

At the second day's session Col. George N. Carpenter of Boston 
read a paper on ** Local Associations, Their Usefulness and Mission." 
He spoke of the elevation of life insurance and of life insurance 
workers with the growth of the institution, and contrasted the old idea 
that for agents the business was a make-shift rather than a legitimate 
vocation and the present advanced view of its character and mlssios; 



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KaTIOKAL A88O0IATI0H OF LiFS UNDBBWBITBB8. 220 

men of education, thought, ability, and enterprise attracted to it, to 
find incentives for their noblest efforts and use for all their talents. 
In these local associations have centered their hopes of better things. 
Their usefulness might be considered in various aspects: 

First, in a negative sense ; the tendency has been that members have abandoned 
dishonorable methods and practices in personal dealing. They have declared that any 
victory which comes at the expense of personal honor is disastrons in the end to the 
cause of life insarance and fatal to that Dermanent success for which we are laboring. 
Second, in a positive way ; these associatioDs have pledged the members to those 
principles which stand for the fntare good of the profession, to the elimination of 
doabtfai experiments, and that as far as it lies in their power there shall be no stain 
apon the reputation of life insarance, but rather its name shall be a synonym for all 
that is trustworthy and just in business transactions. 

In concluding his paper. Col. Carpenter advanced a suggestion 
which was received with much approbation by the association. He 
said, in speaking of the pride which life insurance men now feel in 
their profession: 

With this pride inspirins all true men and with a mutual trust in the motives which 
are actuating each other, a closer union than ever before will characterize those engaged 
in our business. It is not drawing upon our imagination to prophesy that in the near 
future it is among the pomibilities that there will be called an insurance congress, com- 
posed of delegates from this national association, the executive officers of companies, 
the medical examiners and actuaries' associations, insurance journalists' association, and 

representatives from the insurance commissioners' association. Such an aseemblv, com- 
, ^ ^ ,.._. ..--„_^._ ,. — ^ .. — ._ ... .^^ — .__ Qf t^g - - 



posed of men whose best thoughts have been given to the consideration of the vast 
interests involved in the laws, management, and progress of life insurance, would be of 
incalculable value, not on^y to Uie companies, but to the great insuring public. 

Col. Plympton of Boston, and Messrs. Johnson of Connecticut, 
Childs of Vermont, Wolf of the District of Columbia, A^hbrook of 
Philadelphia, and others spoke warmly of Col. Carpenter's address and 
the proposition for a general congress of all classes of professional men 
and officisls interested in life insurance, and the subject was unani- 
mously referred to the executive committee for action. 

The memorial to the companies from the national association, 
proposed by the executive committee, was then taken up for considera 
Uon. Speeches denouncing the rebate practice were made by Messrs. 
Regiater of Philadelphia, Janney of Chicago, Murphy of Wisconsin, 
Roddy of the Carolioas, Sutton of Kansas City, Ashbrook of Phila 
delphia, Bowles of Louisiana, Phelps of Vermont, Lusk of Pittsburgh, 
and Lippincott of Philadelphia, and on the question being put the 
memorial was unanimously adopted. 

Mr. Tillinghast, chairman of the executive committee, announced 
that a petition to the companies to accompany the memorial would be 
prepared by the committee, which hoped that it would receive the 
signature of every agent in the land. 

The proposed amendments to the constitution were then taken up 
and considered, the only point debated being whether an additional 
number of vice-presidents should be added to the official corps of the 
association. A motion to strike out this recommendation of the 
executive committee was defeated by a vote of five associations in the 
affirmative to nineteen in the negative, and the proposed amendments 
as a whole were adopted. 

With the beginning of the third day's proceedings Mr. Joseph Ash- 
brook read a paper on " The Future of the Association.'' ,Some of his 
best thoughts were summarized in this earnestly applauded paragraph: 



ogle 



880 NaUOVAL AbBOOIATION op LiFB UlTDSBWBITKBa. 



I think I hATe shown that the f otore of the nationAl uaodAtion is f naght with 
great possibilities. Its greatest mission is to be the organ or moathpiooe of a jMwerfnl 
public sentiment. No man can make a public sentiment for himself. The best 
thoughts and convictions and aspirations of many men must be fused into one, and this 
becoming recognized as an aotfaoritative standard, the individual is influenced and 
strengthened by it Before the local associations were established there existed few 
opportunities for agents to know each other, and to become acquainted with the best 
governing purposes pf each other. Isolation produced the natural result of suspicion, 
and the prejudiced and distorted estimate of motives. And worse than tliAt, there was 
lacking the moral support which comes from a wholesome. Intelligent public sentiment. 
The marvelous change and improvement which instantly resulted from establishing 
fraternal and social relations among agents, I have attempted to describe. It is needleas 
the ■ ■ 



to Indicate the possibilities for the elevation and ennoblement of the profession of 
soliciting, if every agent shall be constantly under the influence of the most advanced 
thought and the purest and most unselfish purposes, not onlv of every member of his 
local association, but also of every member of the great body of agents throughout the 
country. 

A resolution was adopted that the executive committee appcAat 
a committee of three of its members to further the organization 
of local associations. 

The committee on nominations of officers for the ensuing year re- 
ported the following ticket, which was unanimously elected: 

President, C. B. TUlinghast of Cleveland ; vice-presidents, I. Layton Resister of 
Philadelphia : B. T. Stahl of Minnesota ; secretary, S. H. Plomjner of Philadelphia ; 
treasurer, William RatclUT of New York. 

Executive committee : L. D. Drewrv of Tennessee and Alabama ; Georve F. 
Hadley of New Jersey ; T. H. Bowles of Louisiana ; I. 8. Borley of Vermont ; u. H. 
Kinney of Wisconsin. For the unexpired term of C. E. l^linghast, C. W. Pickeil of 
Michigan. 

For the vice-presidents established by the amendment to the constitution from 
associations whlcn have no other representation upon the board of ofllcers : H. B. 
Meigs, Baltimore ; L. W. Moody. Connecticut ; D. W. Shldeler, Indiana ; S. B. Perker, 
Kentucky ; M. L. Bonham, Carolinas ; C. J. Oore, Kansas : M. L. Roder, Nebraeka ; 
W. H. Haskell, Eastern New York ; W. O. Staniland, Western New York ; C. K. 
Staniels, New Hampshire ; J. R. Voshell, Providence ; A. B. Denton, St Lonls; J. B. 
Day, Texas. 

The new president, Mr. Tillinghast, on taking the chair delivered 
a speech of thanks and was followed by those of several of the other 
new officers. 

Cleveland, O., was chosen as the place for the next annual meeting 
at a date in September to be fixed bv the executive committee. 

The followmg resolution was referred to the executive committee: 

Jieaolvfd, That it is the sense of this convention that the publication of ratios are 
dccepUve, misleading, and against the true Interest of life insurance* 

A final adjournment of the annual meeting then followed. 

The members of the association and other guests assembled in the 
evening after the third day's session at Delmonico's at a banquet given 
by the Life Underwriters Association of New York. 

President Blodgett of the New York association presided and wel- 
comed the delegates in an address. Telegrams were read from Henry 

B. Hyde, John A. McCall (from Europe), Col. Jacob L. Greene, John 

C. Wyman, M. V. B. Edgerly, and Richard A. McCurdy. Speeches 
were made by Mayor Grant, President Tillinghast of the National 
Association, Vice-President Alexander of the Equitable, Gen. Stewart 
L. Woodford. Simon Wolf of Washington, John P. Collins of the 
Prudential, Vice-President Perkins of the New York Life, T. H. 
Bowles of Louisiana, and Col. G. A. Cantine of New York. The 
following remarks of Vice President Alexander of the Equitable, in 
t}ie course of his speech touching the question of the volume of |iew 



National Boabd of Fire Undbrwritebs. ^31 

business the next year, was received as an authoritative announcement 
that the great companies would continue the aggressive policy of 
recent years: 

I had hoped that in this year we woald have commenced a career among the life 
Infloranoe companies in which matters would be a little more quiet We might do one 
or two handled millions lees a year, and get a little enjoyment out of life, but mv very 
good friend McCall, whom I respect and like, and in whose absence nothing will ever 
be said by me that is not intended to be of a friendly character, has set the pace high 
this year, and I feel some like the little boy who was being talked to by his father on the 
BDbject of religion, and the other little Doys and the family were sitting by and the 
father was telling him that there would be a new heaven and a new life, and this little 
boT said to his father, "Will there be a new heaven?" "Yes," the father said, 
" were will be a new heaven." " And will there be a new life ? " " Yes," the father 
said, " there will be a new life." He paused a little, and said, " Will there be a new 
bell ? " " Oh no," his father said, " there will not be a new hell." He turned around to 
one of his companions and said, " Johnny, same old hell." 

At a meeting of the new executive committee held after the 
adjournment, Ben. F. Calef was elected chairman, and E. H. Plum- 
mer, secretaiy. 

The following is a list oMocal associations belonging to the National 
Association on April 1, 1898. [For particulars regarding each asso- 
ciation, see notices of them on other pages under alphabetical arrange- 
ment.] 

Baltimore life Underwriters Association. 

Boston Life Underwriters Association. 

Chicago Association of Life Underwriters. 

Cincinnati Life Underwriters Association. 

Cleveland Life Underwriters Association. 

Connecticut Life Underwriters Association. 

Georgia Association of Life Insurers. 

Indiana Life Underwriters Association. * 

Kansas City Life Underwriters Association. 

Life Insurance Association of the Carolinas. 

Life Insurance Association of New Jersey. 

Life Insurance Association of New York. 

Life Insurance Association of Tennessee and Alabama. 

Life Underwriters Association of the District of Columbia. 

Ltfe Underwriters Association of Kansas. 

Life Underwriters Association of Kentucky. 

Life Underwriters Association of Louisiana. 

Life Underwriters Association of Eastern New York. 

Life Underwriters Association of Western New York. 

Los Angeles Life Underwriters Association. 

Maine Life Underwriters Association. 

Michigan Life Insurance Agents Association. 

Minnesota Association of Life Underwriters. 

Nebraska Life Underwriters Association. 

New Hampshire Life Underwriters Association. 

PhUadelphia Association of Life Underwriters. 

Pittsburgh Life Underwriters Association. 

Providence Life Underwriters Association. 

St Louis Life Underwriters Association. 

Texas Life Undorwritere Association. 

Vermont Association of Life Underwriters. 

Virginia Association of Life Underwriters. 

Wisconsin Life Underwriters Association. 

Other associations have been formed but had not been admitted 
to the National Association at the date above given. 

NatioBal Board of Fire Underwriters' Address to President 
HarriBon. In March, 1892, the National Board addressed a memorial 
to President Harrison calling attention to the "great waste of values 



989 



Natiohal Board of Fibb Undkrwiutbrb. 



by fire in the United States, which has now reached an enormoua aom 
annually," and asking him, with the view of awakening public inter- 
est, to communicate with congress by special message or otherwise, 
touching the matter. The suggestions of the board as to the meas- 
ures to be recommended were : 

1. That lnvc«tigfitlons as to the caoseB of all the flree be required by law, with 
provisions for the proeecution of f raadalent canee. 

2. Better baildlng laws— poor construction being at present a prolific sonroe of 
fire, leading; to great destmctlon of both life and property. 

8. Adequate regulations as to special hazards, such as electricity, oila, ezploeiTes, 
and dangerous compounds. 

4. Greater care on the part of the people regarding the flit danger In all of its 
bearings. 

It does not appear that the president took any action in the matter, 
further than to acknowledge the receipt of the memorial. 

National Board of Fire Underwriters was organized July 
18, 1866, in the city of New York. [For a history of the National 
Board from its organization and a list of the original members, see the 
*• Cyclopedia of Insurance for 1891."] 

The following is a list of the officers of the National Board to the 
present time : 



Ybar. 


Pbbsidemts. 


Vice-Prbsidbnts. 


SXCRBTAAm. 


1866 


James M. McLean. 


Timothy C. AUyn. 
Lucius J. Hendee. 


P. W. Ballard. 


1867 


James M. McLean. 


William Conner, Jr. 


1868 


James M. McLean. 


Lncins J. Hendee. 


William Connor, Jr. 


1869 


James M. McLean. 


Lucius J. Hendee. 


William Conner, Jr. 


1870 


Henry A. Oakl»y. 


Lucius J. Hendee. 


James M. Rankin. 


1871 


Henry A. Oakley. 


Lucius J. Hendee. 


James M. Bankln. 


1872 


Henry A. Oakley. 


Lucius J. Hendee. 


Bcnj. 8. Walcott 


1878 


Henry A. Oakley. 


Lucius J. Hendee. 


Samuel P. BlaedeD. 


1874 


Henry A. Oakley. 


Lucius J. Hendee, 


Samnel P. Blagden. 


1876 


Henry A. Oakley. 


Lucius J. Hendee. 


Samuel P. Blagdcn. 


1876 


George L. Chase. 


Charles Piatt. 


Ell^h AlUgerT 


1877 


Alfred Q. Baker. 


Benoni Lockwood. 


Elijah Alli^^. 


1878 


Alfred G. Baker. 


Benoni Lockwood. 


M. Bennett, Jr. 


i»r» 


Alfred G. Baker. 


Benoni Lockwood. 


M. Bennett, Jr. 


1880 


M. Bennett, Jr. 


Daniel A. Heald. 


John W. Murray. 


1881 


Daniel A. Heald. 


John W. Murray. 


D. W. C. Skilton. 


1882 


Daniel A. Heald. 


John W. Murray. 


D. W. C. Skilton. 


1888 


Daniel A. Heald. 


John W. Murray. 


D. W. C. Skilton. 


1884 


Daniel A. Heald. 


D. W. C. Skilton. 


John L. Thomson. 


1885 


Daniel A. Heald. 


D. W. C. Skilton. 


John L. Thomson. 


1886 


Daniel A. Heald. 


D. W. C. Skilton. 


John L. Thomson. 


1887 


Daniel A. Heald. 


D. W. C. Skilton. 


John L. Thomson. 


1888 


Daniel A. Heald. 


D. W. C. Skilton. 


Joim L. Thomson. 


1889 


Daniel A. Heald. 


D. W. C. Skilton. 


Robert a Beath. 


mid 


Daniel A. Heald. 


D. W. C. Skilton. 


Robert B. Beath. 


1891 


D. W. C. Skillon. 


T. H. Montgomery. 


Robert B. Beath. 


1S92 


D. W. C. Skilton. 


T. H. MontRomerj'. 


Robert B. Beath. 



J. S. Parish of Providence, R. I., was treasurer from the organiza- 
tion of the board until the time of his death in November, 1889, when 
Fred. W. Arnold, also of Providence, wm appointed bv the executive 
committee. He has since been re-clcctcd by the board. Thomas H. 
Montgomery was general agent from 1872 to 1878. The chairmen of 
the executive committee during the twenty-five years were D. A. 
Heald, E. W. Crowell, Rudolph Garrigue, Stephen Crowell, George 



National Boasd of Fibb Uin>BBWRiTEB8. 288 

T. Hope, B. Lockwood, £. A. Walton, and Peter Notman of New 
York, J. N. Dunham of Springfield, Mass., and J. Goodnow of 
Hartford, Conn. Henry E. Miller has been the secretary of the 
committee since 1878. His predecessors were W. H. Post, A. J. 
Smith, C. B. Whiting, and Frank W. Ballard. 

Pboceedingb of the Twbktt-bixth Annual Meeting. The 
annnal meeting of the National Board of Fire Underwriters was held 
in New York May 12, 1892, President Skilton presiding. The presi^ 
dent said in his aadress that 1801 stood out shaiply on tne face of the 
record of the passing years for its unusually large loss ratio to pre- 
mium income, the magnitude- of the fire waste (probably in excess of 
$140,000,000), the great number of mercantile risks of lar^e area 
burned and the fatality attending the writing of the mercantile class 
generally. In referring to the tabular matter connected with his ad- 
dress, the president made the following summaries: 

Term Imnness, in 1890 and 1891 : 

Written. Preminm. Bate. 

lT»r«Hbii8iiiaui 11890* $6,848,788,688 $74,158,631 1.0886 

1 year B DonneM fjgg^^ 7,081,894,214 76,886,806 1.0862 

9 «».»« hn.im>«. J1890* 6,078,549,127 44,623,281 0.8796 

3yea« Dwlneas. ^ jg^j^ 5,606,672,706 47,696,681 0.8668 

K^—«»Kn.iTi«— ri890« 2,669,028,461 82,181,258 1.2088 

Dyean DOBizieflB j jggj^ 2,868,887,148 88,988,187 1.1864 

* 147 CompanieB. 1 129 Companies. 

Dividends, The percentage of dividends paid in 1891 was 10.16 
against 9.84 in 1890. It was 0.46 of one per cent, below the average, 
10.61 for the whole period. 

PrmniumB and loises. American companies, fire business only. 
The average annual loss ratio for thirty years was 57.29, with a ratio 
for 1891 of 60.26. This is the highest loss ratio since 1871 and 1872, 
when the ratio was abnormally large, owing to the Chicago and Bos- 
ton fires. The loss ratio of the foreign companies for 1891 was still 
higher than that of the American, being 68.47. 

MeperuM. The ratio for American companies in 1891 was 87.41; 
for foreign companies 84.68. 

Premwm rate$. The rate of premium declined from 88.76 in 1890 
to 86.80 in 1891, or 01.96. Although it was now at the lowest point 
since 1883 it was still considerably above the low averages of 1878 
(76.88) and 1879 (78.12), which followed the relegation of rates by the 
National Board to local boards in 1877. The losses to each |100 of 
risks written advanced from .4716 in 1890 to .5281 in 1891. The 
amount written to each one dollar of loss was |212.08 in 1890, whereas 
but $191.17 was written to each dollar loss in 1891. 

Oommission9. The ratio of commissions to receipts, all companies, 
was 19.76 against 18.98 in 1890. 

The president in concluding these summaries said: 

Toa will notice by the tablcfi tbnt the ratio of premium to amonnt written has de- 
clined from .9M2 in 1886 to .8094 In 1891. The average for Miy thirty-two vearB has been 
.8499. The ratio of expense was S6.60 In 1891 , as against 36.75 for 1890, tnc average for 
thirty-two y<<are being 38.88. The ratio of loss was 61.28 in 1891 as against 5S.S8 in 1890, 
and an average of ISaM for thirty-two veare. Briefly stated, the preminm ratio Is de- 
creasing, ana the expense and lose ratios are Increasing, the net result for 1891 being 
dangeronsly near the "dead line/' without taking Into consideration the increase In 
unearned premium liability and in amount of unsettled losses. 

11* — - 



Ogle 



284 National Board of Firb Undbrwbitkbb. 

The executiye committee through Mr. Goodnow, chairman, reported 
that the ofRce of the board had circulated nearly 10,000 of the pam- 
phlet protest against valued -policy laws, a thousand copies of the pro- 
test against special deposits, and nearly 8,000 of the letter to President 
Harrison on the fire waste. Attention was called, at some length, to 
the increase of cotton fires in the South. 

The special committee appointed to co-operate with other associa- 
tions to secure proper building ordinances, reported through its chair- 
man, Mr. Walton, that a sub-committee of these associations made the 
following recommendations: 



Yoar enb-commlttee sngjrests, aa a desirable subject of eoosideradon by the < 
bined oommittee, the preparation of a complete code of baildins r^^latlone for amaJl 
towns and Tillages^ based on the general principles already adopted by the committee, 
and believes that sach a code may meet with extensive adoption. 

In regard to ballding laws for large cities, yoor sub-committee, in view of the fact 
that codes of socb laws are already being prepared in several states, contents itself 
with the soggesUon that the committee shonld make recommendations as follows: 

1. That party walls should be built with a hollow space in the middle, tied across 
in some suitable manner. 

9. That scuppers should be required in mercantile bnlldlngs, to carry water hann- 
leaal V away in case of fire. 

8. That staircases enclosed in brick towers should, as far as possible, be reqalred 
In place of open fire-escapes. 

Noting the immense fire losses of the past year, your sub-committee suggests the 



propriety of the adoption bv the combined committee, and the bodies repres^ted in it, 
of measures to urge upon toe president of the United States and his administnttion the 
presentation to the public, by special message to congress or otherwise, of the serkNis- 
nees of the burden which our country now sustains tnrough the annual destruction of 
propertv by fire, and the importance of restraining, by suitable legislation, the habits 
of building which favor enco destruction. 

The committee on legislation and taxation, Mr. Chase, chairman, 
reported a summary of Uie year's insurance legislation. The comnait- 
tee expressed the opinion that there was a better prospect than ever 
for one national form of fire insurance policy. 

Reports were also made by the committees on fire departments, 
fire patrols, and water supply, statistics and lighting, heating, and 
patents. 

The committee on incendiarism and arson, Mr. Van Allen, chair- 
man, reported that during the year 169 rewards were offered amount* 
ing to $57,025. Since the fund was subscribed there had been 2.764 
offers, amounting to $080,876. Nine rewards had been paid during 
the year, securing eight convictions. Since the fund was established 
158 rewards had been paid, resulting in 229 convictions at a total ex- 
penditure of $67,184. The report contained the draft of the law 
requiring fire inquests to be held by coroners, based on one submitted 
by Mr. C. C. Hine, and recommended to state legislatures. 

The following officers and executive committee were elected: 
President, D. W. C. Skilton of the Phoenix of Hartford; vice-presi- 
dent, Thomas H. Montgomery of the American Fire of Philadelphia; 
secretary, Robert B. Beath of the United Firemen's of Philadelphia; 
treasurer, Fred. W. Arnold of the Equitable Fire and Marine of 
Providence. For members of the executive committee in place of 
those whose terms expired: E. F. Beddall of the Royal, James 
Nichols of the National Fire of Hartford, J. L. Cunningham of the 
Glens Falls, and Eugene Harbeck of the Michigan Fire and Marine. 
The retiring members of the committee were Messrs. Qoodnow of the 



Natiohal Fbatbbnal Cokgress. 



285 



JStna, Whiting of the Orient, Stone of the Greenwich, and Blagden 
of the North British and Mercantile. 

[Nora. Tlie Mone offlcen were elected at the aimiud meeting of the National 
Board in May, 1898, and the ezecative committee was changed by me eobetitation of 
W. B. Clark, R. Dale Benson, and John W. Murray for George B. Sheldon, David Adee, 
and J. L. Thomson, the retiring members.] 

The following Is a list of the companies constituting the National 
Board of Fire Underwriters, May 1, 1898 : 



JEtDB Hartford. 

Agricalfciiral Watertown. 

AKany. Albany, N. Y. 

Alamo San Antonio. 

Annericaii Fire New York. 

American Fire Philadelphia. 

Boylston Boston. 

Broadway New York. 

Chiclmiati Ohio. 

Cittzens' New York. 

Conimeroe Albany. 

Conunercial Union London. 

Coniiecticnt Fire Hartford. 

ContiDental New York. 

Creecent New Orleans. 

Delaware Philadelphia. 

Detroit Fire and Marine Detroit. 

Bmpire Ci^ Fire New York. 

Equitable Fire and Marine. . .Proyidence. 

BzchaDse Fire New York. 

Farragnt Fire New York. 

FSreAnodaUon Philadelphia. 

Fire Ins. Co. Connty Phila . .Philadelphia. 

Fireman's Fond San Francisco. 

First National Fire Worcester. 

Franklin Fire Philadelphia. 

GermanlaFire New York. 

German-American.'. New York. 

Greenwich New York. 

Glens Falls Glens Falls. 

Goardian London. 

Hamborg-Bremen Fire Hamburg. 

Hanover Fire New York. 

Hartford Fire Hartford. 

Home New York. 

Imperial Fire. London. 

Indiana. Indianapolis. 

Ins. Co. of North America . .Philadelphia. 
Ins. Co. State Pennsylvania.. Philadelphia. 

Lancashire Manchester. 

lion Fire London. 

Liverpi A London A Globe.. Liverpool. 
London Aseor. Corporation.. London. 
London A Lancasmre Fire. .Liverpool. 



Manchester Fire Manchester. 

Manart'rs' A Builders* Fire. .New York. 

Mechanics and Traders' New Orleans. 

Merchants Newark. 

Merchants Providence. 

Michigan Fire and Marine.. .Detroit. 

National Fire Hartford. 

New England Fire Rutland. 

New York Bowery Fire New York. 

New Zealand Auckland. 

Niagara Fire New York. 

Norai American Boston. 

North British A Mercantile. .London. 

Northern London. 

Norwich Union Norwich. 

Orient Hartford. 

Palatine Manchester. 

Pennsylvania Fire Philadelphia. 

Pheniz Brooklyn . 

Phoenix Hartford. 

Phoenix London. 

Planters' Fire and Marine. . .Memphis. 

Prussian National Stettin. 

Queen New York. 



KcadhigFire Reading. 

Reliance PhiladelphI 

Royal Liverpool. 



Scottish Union and National. Edinburgh. 
Springfield Fire and Marine. Suringfield. 
Spring Garden Pailaaelphla. 



Sonthem New Orleans. 

Sun London. 

Sun Mutual New Orleans. 

Transatlantic Fire Hamburg. 

Union Philadelphia. 

Union London. 

United Firemen's Philadelphia. 

United States Fire New York. 

Virginia Fire and Marine. . . .Richmond. 

Virginia State Richmond. 

Westchester Fire New York. 

Western Toronto. 

Williamsburgh City Fire . . . .New York. 



National Fire insurance company of New York reinsured its 
business in the Commercial Union of London, December 13, 1892. 
J. H. Kattenstroth. secretary of the National, received the appoint- 
ment of local secretary of the reinsuring company. The National 
was organized in 1888, was a safe and conservatiye company, doing a 
moderate business in other states, and Henry Thayer Drowne was for 
many rears its president. The retirement was due to the unprofitable 
outlook for fire insurance as a business. 

National Fraternal Congress. The sixth annual session of rep- 
reientatiTes of fraternal beneficiary associations of the United States 
was held at Washington, D. C, November 16, 1892. Adam Warnock^. 



National Iksubakcb Convsntioh. 



of the American Legion of Honor presided. The secretary presented 
tables showing the membership ana transactions in the preceding year 
of fifty fraternal associations.* The total benefit membership, Decem- 
ber 81, 1891, was 1.238,409. social membership, 409,462, benefits paid 
on deaths during the year, $25,666,544, totol benefiU paid, $26,007,746, 
total receipts. $28,468,782, total expenses, $1,636,076. [See Fraternal 
Beneficiary Societies, Membership of.] 

National Insurance Convention. The twenty-third annual con- 
vention of the state ofiicials having supervision of insurance was held 
at St. Paul, Minn., June 15 and 16, 1892. The first gathering of these 
state officials was in 1871, at the instance of George W. Miller, then 
superintendent of the New York state insurance department. He 
issued invitations to the officials of other states and territories, and 
they met at New York May 24. 1871. Eighteen states were repre- 
sented. Mr. Miller was chosen president and Col. Henry 8. Olcott, 
then a New York journalist, was chosen secretary. Mr. Miller, on 
taking the chair, stated that the object proposed in calling these ofil- 
cials together was to secure, if possible, uniformity of action in those 
matters which were discretionary with them in the supervision of in- 
surance, and to promote, through their efforts, such legislation as was 
desirable to improve and protect the business. The title of the organ- 
ization adopted was, the "National Insurance Convention." 

The first session lasted nine days, and there was a second session 
held in October of the same year. A report of the proceedings, which 
were long and varied, was prepared by the secretary, Mr. Olcott, and 
published in two volumes of about 800 octavo pa^es. 

The following table gives the names of the officers of the coiiT^d- 
tion since its organization, and the successive places of meeting: 



Place of 
Meeting. 



Oppicsrs Elbctbd. 



President 



Vlce-Prosident. 



111871 New York, 
2|1871 New York, 
8 1872 New York, 
4 1873 Boston, 
611874 Detroit, 
- 6, 1875! New York, 
71876' Hamsborg, 
81877 St. Paul, 
9,1878 Providence, 
10 1879 St. LoniB, 
11 1880iChicago, 
12 1881 1 Detroit, 
18 1882' Niagara Falls, 
14! 1883 Columbua, 
161884|Chicago, 
161 1886, Chicago, 
17|1886'st. Paul, 
18 1887|Niagara Falls, 
191888|MaS6on,WiH. 
a0;1889, Denver, 
Sl'lSOOCleveland, 
82il801iSt. Louis, 
28 1892lSt. Paul, 



,Geo. W. Miller, N. Y. 
Iqco. W. Miller, N. Y. 
L. Breeze, Wis. 
lO.W. Chapman, N.Y. 
;0. W. Chapman, N.Y. 
,S. II. Kow, Micii. 
S. H. Row, Mich. 
O. Pillsbury, N. H. 
iO. Pillsbury, N. II. 
|A. R. McGill, Minn. 
iJ. L. Clarke, Mass. 
'j. L. Clarke, Mass. 
O. Pillsbury, N. H. 
i.I.A.McCan,Jr.,N.Y. 
,J.A. McCall, Jr., N.Y. 
,C. P. Swigert, 111. 
J. K. Tarbox, Mas?. 
Phil Cheek, Jr., Wis. 
O. R. Fj'ler, Conn. 
iG. 8. Merrill, Mass. 
iC. P. Ellcrbe, Mo. 
I Geo. B. Luper, Pa. 
iJ. C. Lineban, N. H. 



1. 



L. Brecee, Wis, 
L. Brcese, Wis. 
J. W. Foard, Cal. 
iS. n. Row, Mich. 
iS. H. Row, Mich. 
,0. Pillsbury, N. H. 
O. PillHbur>', N. H. 
'a. R. McGlll, Minn. 
|A. R. McGill, Minn. 
I J. L. Clarke, Mass. 
I P. L. Spooner, Wis. 
'j.A. McCall, Jr., N.Y 
C. P. Swigert, 111. 
Chas. H. Moore, O. 
Eugene Pringle, Mich 
H.J. Reinmund, O. 
S. H. Cross, R. I. 
IQ. R. Fyler, Conn. 
Samuel E. Kemp, O. 
'Samuel E. Kemp, O. 
'Geo. B. Luper, Pa. 
IW. H. Kinder, O. 
C. H. Smith, Minn. 



Secretary. 



H. S. Olcott, N. T. 

H. S. Olcott, N. T. 

O. Pillsbury, N. H. 

O. Pillsbury, N. H. 

O. Hllsbury, N. H. 

S. 1 ■ ■ "iiw. 

S. !■ 

Orrn 

Omi 

OrriK 

Orriii 

Orrii. 

l.V 

Cha. 

Cha 

C. i 

R. b. 



T. w- . h. KaiL 
T \s.;di, Sjul 
■f, Wtkh, Kmxl 
r. \\\ich. Kan. 
T. \\\-\i±. Kan. 
limoki^ Ocmn. 

P. 9Vl.l0GXt, 111. 

P «4wtf?ert, HI. 

- ^- -V 'tTTin. 

iiriuKcruuif, O. 

J. A. McEwen, O. 
Geo. B. Luper, Pa. 
Geo. B. Luper, Pa. 
C. B. Allan, Neb. 
J. J. Brinkerhoff, SL 
J. J. Brinkerhoff, HI. 



•' 'loes not include all organizaUons of this claas.^' "" 



Natxqhal Insusakgb GoKYXNTioir. 387 

Actuary Aug. F. Harrey of Missouri is the only official still in 
office who was present at the first session of the convention. 

At the twenty-third annual session at St. Paul. President Luper 
was in the chair, and the following representatives of insurance de- 
partments were present: 

Colomdo, J. M. HendertoD, soperiDtendent ; Connectlont, O. R. Fyl«r, commie- 
skmer ; lUlnois, J. J. Brinkerhoff, depnty aoditor ; Iowa, J. A. ]>oii, andltor, and 
Stowart Goodwill, depaty auditor; Kansaa, C. G. Blakely, depnty aoditor ; Maine, Wil- 
liam D. Whiting, actuary of tbe department ; Maryland, J. F. C. Talbott, insurance 
commiwioi^er, and T. B. Townaend, depaty commissioner ; Maseactansetts, George S. 
Merrill, insnranoe commissioner ; Minnesota, C. H. Smith, insurance commissioner ; 
Missouri, Aug. F. Harrey, actuary; Montana, Edward A. Kenney, auditor ; Nebraska, 
H. B. Babcock, deputy auditor; New Hampshire, John C. Linehan, insurance commis- 
sioner ; New JerssT, D. Parks Fackler, actuary ; New York, Isaac Vanderpool, derk of 
the deputment ; Onlo, W. H. Kinder, superintendent of insurance ; Pennsylrania, Geo. 
B. Lnper, insurance commissioner, and 8. W. McCulloch, deputy commissioner ; South 
Dakota, Joseph Frendenfleld, deputy auditor ; Wisconsin, W. M. Root, insurance com- 
missioner. 

There was also present ex-Superintendent Reinmund of Ohio, now -vice-president of 
the Mutual Reserre Fund of New Yorlc, and Messrs. Bliven of Chicago and Beath of 
Philadelphia, representing the National Board of Fire Underwriters. 

President Luper said, in his address, that the objects of these con- 
ventions, briefly stated, were: 

F^r§t, To secure an absolute uniformity of blanks. 

Second, To secure, as far as possible, uniformity of lep^islation. 

Third, To secure uniformity of practice in the execution of the in- 
surance laws. 

He regarded uniformity of blanks as of the first importance. He 
was thoroughly convinced that the labor and expense necessary under 
the present system mi^ht be very much lessened, and better results 
secured, if they could but arrive at a final and satisfactory determina- 
tioD of this question. 

The committee on mortality and rates of interest, composed of 
Messrs. Talbott, W. 8. Smith, Harvey, Whiting, and Sprague, pre- 
sented a report, accompanied hj letters from the ofllcers of thirty-nine 
companies, expressing their opmions as to the future rate of interest. 
The committee, excepting Mr. Whiting, said: 

The standard Interest rate has been changed since 1871 in seTcral of the states from 
hifher rates down to the present minimum, four per cent. This was accomplished 
without embarrassment to the companies, because In some of the states the standard 
rate had always been four per cent., and to do business in them the reeenre on that basis 
had to be maintained, and the companies had grown up under that condition and had 
accommodated their business to that requirement ; but any further chance, looking to 
the placing of this present business upon a basis of interest rate lower than that upon 
which th^ policT contracts have been entered into, would be a different and very seri- 
ous matter. And in any of the suggested changes of the standard it is not supposed 
that it is intended to apply to any except new business written after the new standard 
should be adopted. For, aside from important legal consideration that would present 
itself to any attempted interference with the business now on the books. It is wholly 
improbable that any such condition will arise as to endanger its security upon the 
present basis within the next twenty-flve years, during which period the great mass of 
the insurance now in force will disappear from natural causes. Our inquiry, therefore, 
is confined wholly to future writings. 

The effect of a change of standard interest rate from four per cent, to three and 
one-half per cent or three per cent, would be to add to resen'es an sYcrage of about 
seven per cent, or about fifteen per cent, respectively ; and, if the latter were to be ap- 

5 lied to a business of the size and character of the present volume, it would increase by 
100,000,000 the amount already locked up in reserves, and unless present premium 
rates were considerably advanced, would carry the surplus and dividends to the vanish- 
ing point The probable consequence, therefore, of any of the suggested changes of 
interest rate in thiB basis for future bnsinesB is of so great importance that it should be> 



288 National Ihsurahcb CoNYSFTioir. 

entered apon only after the exigenqr le plainly demonetratod, and apon deliberate ood' 
sideration of the falieet Information attainable. The information now at hand womld 
be greatly enlarged by general diecneelon of the sabject by the jonmala, and It mar be 
deemed adviBabTe to mvite the expreMiona of leading flnandefs, bnataieBB men, and ttt& 
Actuarial Society by inqalrles similar to those sent to the companies, bat for whldL 
time was f onnd too limited in the present instance. 

Mr. Whiting wrote a dissenting opinion as to the statement of tlie 
majority of the committee, that 'Mt is wholly improbable that any 
such condition will arise as to endanger its security upon the present 
basis within the next twenty-five years, during which period the great 
mass of the insurance now in force will disappear from natural 
causes." He subsequently read a paper on the subject of a new tal>le 
of mortality which will more closely approximate to the experienoe 
upon American lives and replace the now obsolete actuaries' table tor 
new business. None seemed to him to offer such advantages as are to 
be found in Dr. Parr's table, derived from the male population in 
sixty three healthy districts of England. 

The convention voted to receive the report of the committee on 
mortality and rates of interest, and continued the committee until 
next year. 

Mr. Harvey read a paper on " Reserves for Insurance Companies 
Other than Life." He argued that reserves should be based on losaea 
incurred and not on premiums received. 

Mr. Fackler, in a paper on the " Limitation of the Business of Life 
Insurance Companies," advocated the restriction of the businoBS of tike 
mat companies to a limited amount of new business annually. Our 
Life companies are becoming vast financial corporations, and may be- 
come a source of dan^^r to the commonwealth by reason of the vast 
money power lodged in the hands of a few men. possibljr only one 
man in each company. As any further increase in the size of our 
largest life companies benefits neither policy-holders nor the public, 
and serves only the ambitions of some managers and the pecuniazT- 
interests of certain agents, every disinterested person should faror 
legislation to confine the increase within certain moderate limits. 

Mr. Fackler's paper was, after a long discussion, referred to a 
special committee of seven, of which Mr. Luper is chairman, to report 
at the next annual convention. 

The committee on non-forfeiture laws reported that policies issued 
in any state should be subject to its surrender value laws, unless a 
company's own state has a non-forfeiture law or the policy contains 
a satisfactory surrender clause. The report was adopted. 

An election of ofScers for the ensuing year resulted in the choice 
of John C. Linehan of New Hampshire as president, C. H. Smith of 
Minnesota as vice-president, and J. J. Brinkerhofl as secretary. 
Chicago was chosen as the next place of meeting. 

On the second day, Mr. Harvey's paper was discussed, and referred 
over to the next convention. The committee on a national fire 
insuraDce standard blank reported that twenty-two states had agreed 
to accept such a blank as to the items of assets, liabilities, income, 
and expenditures, and that three states, Arkansas, Connecticut, 
and Iowa, had declined. The report was adopted, with some 
changes, but turned over to a special committee for further considera- 
tion to come up at the next annual meeting. 

Digitized by VjOOQIC 



National Life Insubance Cohfant. 289 

The committee appointed to consider the recommendation of Mr. 
Fackler regardine the limitation of the amount of insurance to be 
written or carried by a single life insurance company, met in New 
York December 14, 1892, with Mr. Luper as chairman. The matter 
was discussed at length, but no definite action was taken. 

National Life insurance company of Montpelier, Vermont, was 
originally incorporated as the National Life insurance company of the 
United States, November 18, 1848, the or^nizers including Julius Y. 
Dewey, Paul Dillingham, and Timothy P. Kedfleld. By amendment of 
act of the legislature of October 26, 1849, the company was authorized 
to beffin business on a reserved guarantee capital of $&,000. Twenty- 
five directors were also appointed by the act. Bv charter amendment, 
October 80, 1860, the number was reduced to thirteen, a quorum re- 
quiring the presence of seven members. The first president was 
William C. Kittredge, and the first secretary, Roger 8. Howard, but 
Julius Y. Dewev was the manager from the first. Julius Y. Dewey 
was elected president in January, 1851, and George W. Reed, secretary 
in January, 1852. Active operations were begun February 1, 1850. 
September 17 of that year the company was admitted to the state of 
New York. It was also in the Massachusetts field at an early date 
and from the outset established a high standing as an insurance organ- 
ization. The name was changed by act of the legislature, October 27, 
1858, the present title being adopted. The company was admitted by 
the Illinois department February 26, 1869, and Ohio was entered the 
same year. Business in Michi^n began May 1, 1872, in Iowa in 1878, 
in Pennsylvania in 1874, and in Minnesota in 1875. An official ex- 
amination of the company in 1877 by the Vermont commissioners dis- 
closed a surplus of $671,248.81. The guarantee capital had been 
eliminated, and the plan of insurance was purely mutual. 

In 1885 operations were begun on the Pacific coast, admission being 
granted by the California department. The Missouri field was occu- 
pied April 5, 1889. At the present time the company is established in 
every important northern state, and in some southern states. The 
National Xiife has been under one management practically from the 
beginning of business in 1850. President John x. Dewey remained 
at the head of the company until 1877, when he was succeeded bv the 
present incumbent, Charles Dewey, who has been associated with the 
board of directors for forty -one years. The second secretary, George 
W. Reed, is still the occupant of that office, having given the company 
forty years continuous service. The present officers and directors in 
full are: Charles Dewey, president; £dward Dewey, vice-president; 
Qeo. W. Reed, secretary; J. C. Houghton, treasurer; J. A. DeBoer, 
actuary; A. B. Bisbee, M.D., medical director; Osman D. Clark, 
assistant secretair; and H. M. Cutler, assistant treasurer; Charles 
Dewey. W. H. H, Bingham, George W. Reed, Dudley C. Denison, 
Edward Dewey. Fred £. Smith, James C. Houghton, James T. Phelps, 
Wheelock G. Veazey, George Briggs, Levi K. Fuller, George G. Ben- 
edict, and William P. Dillingham, directors. 

The amount of insurance in force December 81, 1892, was $58,676,- 
858 and the assets at par aggregated $8,048,906.05, having increased 
from $8,645.62, January 1, 1851. The increase in the value of assets 
at par by decades from January 1, 1851, until January 1^ 1891^ was: 



MO 



Nbbbaska Lifb Uhdsbwbttbrs' Abbogiation 



JanuAry 1, lOeO, $196,768.57; January 1. 1870, $857,868.74; Janaarj 
1. 1880. $2,167,419.08; January 1. 1890, $5,686,234.28; January 1, 
1891. $6,487,115.87. The business of the company since 1880. show- 
ing the total annual income, premium receipts, expenditures, amount 
paid policy-holders, and the total admitted assets will appear from the 
appended flgurefl. 



Yetr. 


Total Income.' 


Premiam ! 


Total 


Paid Policy- 


Total Admit- 






Receipts. Expenditure. 


Holden. 


ted Amccr. 


1880 


$381,404' 


t 
$264,184 


$243,050 


$189,928 


$2,886,737 


1881 


422.878 


293.481 


259,084 


199.910 


2,569.375 


1882 


472.224, 


341,180 


801.119 


236.628 


2.768.288 


1888 


566.595; 


416.685! 


869,989 


282,027 


2.911,871 


1884 


668.8981 


606.186 


432.768 


305.812 


3,181.162 


1886 


779.256' 


608,582 


451.121 


299,116 


S.528.821 


1886 


912.855, 


725,816 


514,287 


836,369 


8.880.523 


1887 


1.187.448 


954,805; 


670,480 


445.241 


4.405.315 


1888 


1,541.637 


1.281,173! 


942.061 


619,497 


5.167.548 


1889 


1,781,674' 


1,495,069 


1.075.872 


639,166 


5,917.195 


1890 


2,102.295 


1.789.472 


1.251,414 


728.904 


6,768.846 


1891 


2,218,860 


1.877,678 


1.551,935 


948.701 


7,569,150 


1892 


2,497,779; 


2,088,247 


1,657,415 


954,878 


8,762.430 



Nebraska Field Club. This is an association of field men of fire 
insurance companies doing business in Nebraska. As Nebraska has an 
anti-compact law, the club does not make rates, but its declared pur- 
pose is to exert a moral influence for the good of fire underwritini^ in 
the state. The proceedings of the club, at its meetings, are never 
divulged. The last known officials were J. M. Richards, chairman, 
and f^nds Dana, secretary, of the executive committee. 

Nebraska. Insurance Supervision in, 1865-1898 : In Nfebraska 
the auditor of public accounts, who is elected by the people for a lerm 
of two years, is charged with the supervision of insurance. The de> 
partment was organized in 1865. The officials who have held office 
since then are: 

John Oilleepie, 

J. B. Weston. 

F. W. Leldlke. 

John Wallichs, 

H. A. Babcock, 

Thomas H. Benton, 

Engene Moore. 

Mr. Moore is the present auditor, and his term will expire January, 
1895. H. A. Babcock is the deputy auditor in charge of the insurance 
department. 

Nebraska Life Underwriters' Association was organized March, 
1890, the original officers being W. J. Fischer, president; H. D. Neely 
and O. H. Jefifries, vice presidents; and E. H. Mayhew, secretary. 
At the annual meeting held at Omaha, January 11, 1892, the following 
officers were elected : M. L. Boeder, president; I. B. Mapes and O. £L 



Oct. 10, i8«-Jan. la, isra. 

Jan. 18. 1878— Jan. 9. ISTO. 
Jan. 9.1879— Not. la, 1880. 
Nov. 12, 168a-Jan. 8. 168S. 
Jan. 8,1885— Jan. 8,1889. 
Jan. 8.1889-Jan. 1. 18a»S. 
Jan., 1808- 



New Ebtgland Bttbeau of United Iksfbction. 241 ^ 

Jeffries, Tice-preBidenta ; W. S. Wilson, secretary; W. I. Hawkes, 
treasurer. The present officers, who were elected at the annual meet- 
ing in Januaxy, 1898, are M. L. Roeder, president; H. D. Neely, first 
yice-president; Charles J. Bell, second vice-president; F. £. McMullen, 
secretary; H. F. Lunback, treasurer; William Henry Brown, corres- 
ponding secretary. The executive committee are O. H. Jeffries, Oscar 
Waason, H. D. Neely, W. F. Allen, and W. I. Hawks. 

Needles^ Edward M., president of the Penn Mutual Life insurance 
company of Philadelphia, was bom at Baltimore, Md., April 26, 1828, 
but became a resident of Philadelphia the following year. He entered 
the dry-goods business tn that city as a clerk in 1887, and continued in 
it many years, retiring with a fortune. In 1868 he was chosen a 
director ox the Penn Mutual, and in 1879 its vice-president. He suc- 
ceeded the late Mr. Huey, as president, in 1886. 

Nelson, William C.^ manager of the New Orleans compact, was 
bom at Holly Springs, Miss., in 1841. He had just reached manhood 
when the war broke out, and he enlisted as a private in the Ninth 
Mississippi ref:iment. C. S. A., and went through the entire conflict, 
subsequently m the Seventeenth Mississippi regiment, emerging at ~ 
Appomattox with a captain's commission. He entered the insurance 
business in Arkansas, removed to Nashville, Tenn., in 1871, where he 
was a local agent several years, and secretary of the local board. He 
was special a^ent for the Royal six years, afterwards for the North 
British and Mercantile, and was appointed compact manager at New 
Orleans in 1892. * 

Nevada, Insurance Snpervision in, 1864-1898. In Nevada the 
state comptroller is ex officio insurance commissioner. The comptrollers 
since the admission of the state in 1864, have been: 



A W. Nightingale, 



Not. 1, 1864-^an. 1, 1807. 



Jan. 1, 1807— Jan. 1, 1808. 
Jan. 1, 1868— Jan. 1, 1871. 
Jan. 1, 1871— Jan. 1. 187V. 
Jan. 1. 1879-Jan. 1, 1891. 
Jan. 1, 1881— 



W. K. ParUnaon, 
Lewie Doron, . 
W. W. Hobart, 
J. F.Hallock, . 
R. L. Horton, . 

The oflAcial term of the comptroller is four years. Mr. Horton's 
term will expire January 1, 1895. The deputy, in charge of the in- 
surance department of the office, is R. M. Horton. 

New England Bnrean of United Inspeetion : The New Eng- 
land Bureau of United Inspection was organized at Boston in Decem- 
ber, 1887, for the purpose of makine frequent and complete surveys of 
important risks in New England, the reports to be furnished to sub- 
scribing companies. The bureau is in charge of a governing committee 
of twenty-five, the list being elected annually. At the annual meeting 
held at Boston, February 5, 1892, Chairman Field announced the 
membership as 54 out of a possible 55. He said : 

" Since organization the burean caused 8S0 original and 4,163 re-iorveys to be made.' 
We have at tblB date 968 riaku regintered and 608 under iniipection, aa against 798 
registered and 520 under innpcction a year ago. Our survey numbers show 8S0 risks 
under our care ; but seventy-one are duplicate numbers, and sixty-eight have been 
dropped for various reasons. Our expenses for the year have been |9&,738.84, as against 

{18,708.60 for 1890. The coat per survey this vear Is twenty-one cents, in 1890, twenty- 
veoenta, and in 1880, thirty cents. On sprinkled riaka we have had twenty-one flree, 
with a loss of $liS4,406.76, with no claim on insurance companiee in eleven caaee. One 
gave OS • kwa of $107,600— the ftrat decided sprhilUer fa}Iare in ^ew Bng^and. Tet, ^ 



Kbw Enolakd Ikburascb Ezchanob. 



Incladini^ this, the per cent of losa on sprinkled rleki, miminlng that flie borean eom 
paniee paid it all — which ia hardly probable — is below the average loaa ratio for the 
▼ear on entire bosinees. On unprotected riakt we had sixteen flres, with loss of fOBl,- 
1IM.96, the largest being |S68,850.S4. In four fires reported no claim was made.^^ 

The following are the officers of this organization: governing com- 
mittee, George P. Field, chairman; A. C. Adams, treasurer; K. W. 
Hilliard, secretary. The inspectors employed by the bureau are T. L. 
Churchill, chief; £. F. Everett, £. A. Northey. Lemuel Pope, G. H. 
Robinson, and John H. L. Coon. The draftsman is H. G. Fairfield. 

New England Insurance Exchange was organized bv special 
agents of fire insurance companies, at Boston, January 6, I880. jE^qt 
to this, anything like order or cohesion in rates in New England, oat- 
side of Boston, was practically unknown, and very few local bosirda 
were in existence. The first attempt to make rates, beyond the limits 
of Boston, was in November, 1882, when a meeting of special agents 
was held to consider paper mills. It resulted in sending out a drcalar 
to companies asking them if they would stand by a scheme of rates on 
this class of risks if they were made, and forty-four companiea 
answered that they would. This success encouraged hope of a closer 
organization, and resulted, a few months later, in the formation of the 
Exchange. 

Membership in the organization is entirely personal and is open to 
all persons regularly enfii^ in, or having chsm of the New England 
field work of any fire insurance company. The objects of the £x- 
clumge are declared by the constitution to be "the svstematic inter- 
cbange of information and co-operation among field men." The 
Exchange is a rating and supervising body. Its preliminary work ia 
mainly aone through standing comnuttees, of which there were, at the 
beginning of April, 1898, twelve of the Exchange and 119 in charge of 
as many localities in New England, all committees being composed of 
members of the Exchange. These committees report to the Exchange 
at its weekly meetings, and their action is approved or disapproved by 
that body. 

The jurisdiction of the Exchange covers New England practically, 
with the exception- of Boston (which is controlled by its Board of Fixe 
Underwriters), the state of New Hampshire (which has its own state 
board), the state of Maine (which since the passage of the anti-compact 
law there, has been abandoned to its local boiuras), and a few other 
places of less importance. 

The presidents of the Exchange since organization have been as 
follows: 1888, U. C. Crosby (two terms); 18^, Ckorge P. Field ; 1886, 
George W. Taylor; 1887, Henry E. Hess; 1888, Henry R. Turner; 
1889, Benjamin R. Stillman; 1890, Frank A. CoUey; 1891, U. C. 
Crosby (third term); 1892, Moses R. Emerson; 1893, Charles B. Fowler. 
The secretaries have been: 1883, James Bruerton; 1884, Arthur A. 
Clarke; 1888, Oliver P. Clarke; 1891, C. M. Goddard. 

The present officers, elected at the annual meeting in January, 
1893, are: Charles B. Fowler of the Franklin of Philadelphia, presi- 
dent; E. 0. Brush of the Commercial Union, Edward C. North of the 
Mercbants of Newark, and A. C. Adams of the JBtna of Hartford, 
vice-presidents; C. M. Goddard, secretary and treasurer; W. H. Smith 
of the Providence. Washhigton (chairman), G. W. Hinkley of the 
Phoenix of Hartford, J. J. Downey of the Royal and Pennsylvania, C, 



NBW EhGLAKD iNSURAirGB EXCHANOB. 



2i8 



L. Woodside of the North American, and G. Herbert Ide of the London 
and Lancashire, executive committee. 

The following is a list of the companies represented in the 
organization: 

Agrlcnltnral. 

American, Boston. 

American, Newark* 

American, New York. 

American, Philadelphia. 

Atlas, London. 

BoTlrton. 

BritiBh-America. 

Broadway. 

Caledonian. 

Citizens, New York. 

Commercial Union. 

Connecticnt Fire. 

Continental. 

Delaware. 

Bqnitable Fire and Marine. 

Fire Ins. Co. of Fhila. 

Fire Association of Phlla. 

Fireman^s Fand. 

First National Fire. 

FYanklin Fire, Philadelphia. 

German- American. 

Oirard Fire and Marine. 

Glens Falls, New York. 

Granite State Fire. 

Greenwich. 

Guardian, London. 

The following is a list of the standing committees and the names of 
the chairmen of each: 



Hambarff-Bremen. 
Hanover Fire. 
Hartford Fire. 
Home, New York. 
Imperial Fire. 
Ins. Co. of North America. 
Ins. Co.. State of Pa. 
Lancashire. 
Lion Fire. 

Liy. and Lon. and Globe. 
London Aasnranoe. 
London and Lancashire. 
Manchester Fire. 
Mechan's and Trad's, N. O. 
Mercantile Fire and Marine. 
Merchants, Newark. 
Merchants, ProYidenoe. 
Michigan Fire and Marine. 
National, Hartford. 
Newark Fhra, N. J. 
New Hampshire Fire. 
Niagara Fire. 
North American, Boston. 
No. British and Mercantile. 
Northern, London. 
Northwestern National. 
Norwich Union. 
Orient, Hartford. 



Palatine. 

PennBylvania Fire. 
People's Fire, N. H. 
Phenix, N. Y. 
Phoenix, London. 
Phoenix, Hartford. 
Providence- Washington. 
PniBsian National. 
Queen, N. Y. 
Reading Fire. 
Reliance, Philadelphia. 
Rochester German. 
Royal, Liverpool. 
Scottish Union and NatU. 
SecnrlW, New Haven. 
Springfield Fire and Marine. 
Spring Garden. 
State Investment. 
San, London. 
Tentonia, New Orleans. 
Trans-Atlantic Fire. 
Union, Philadelphia. 
Union, California. 
United Firemen's. 
United States Fire. 
Westchester. 
Western, Canada. 



KZOHANOB. 

ConwUUea. Chairmen. 

Boot and Shoe Factor's,.. C. H. Wilkins. 

Co-Insnrance, M. R. Emerson. 

Cotton & Woolen Mills,. .W. T. Teale. 

Electric Lights, K. C. North. 

Execativo, W. H. Smith. 

Factory Improvement,.. U. C. Crosby. 

Maine Division, H. B. Clapp. 

Vermont Division, (). B. Chadwick. 

Eastern Mass. Div J. H. Barger. 

Western Mass. Div., . ..N. S. Bartow. 

Rhode Island Div.,. . ..G. W. Hinkley. 

Connecticut Div., G. E. Kendall. 

Boot and Shoe Div.,.. J. M. Forbash. 

Fire Apparatus, O. B. Chadwick. 

Gasolene and Kerosene,. E. C. Brush. 
N. Y. City Violations,... H. R. Turner. 
Paper and Pulp Mills,.. .W. R. Gray. 
Sole Leather Tanneries,. W. R. Gray. 
Summer Hotels, H. R. Turner. 

MAlNB.t 

AndroHCOggin Co., A. K. Simpson. 

AroostookCo., J. J. Downey. 



Oommitteet. Chairmen. 

Bath, E.C. North. 

*Berwick, G. E. Macomber. 

Brunswick, F. A. Wetherbee. 

Franklin Co., S. B. Chirke. 

Hancock Co., H. B. Clapp. 

Kennebec Co., G. W. Hinkley. 

Knox Co., A. W. Sewall. 

Lincoln Co., S. B. Clarke. 

Oxford Co., M. R. Emerson. 

Penobscot Co., H. B. Clapp. 

Piscataquis Co., S. B. Clarke, 

Portlana, M. R. Emerson. 

Richmond, G. W. Hinkley. 

Somerset Co., T. H. Dooley. 

Waldo Co., Geo. Neiley. 

Washington Co., S. G. Parsons. 

York Co., J. H. Leighton, 

VERMONT. 

Addison, etc., Co's, O. B. Chadwick. 

Bennington Co., A. L. Berry. 

Frankliii Co., G. H. Allen. 

Lamoille Co., J. B. Knox. 

Montpelier, H. L. Uiscock. 



* No local board. 

t In conseqence of the passage of the law in Maine, in 1893, f ordidding the existence 
of compacts to make rates, the Exchange has relinqnisned control over the local boards 
of that state, nominally, if not practically, and all Maine committees of the Exchange 
have been discharged, though the chainnen of these committees are retained, and 
organised Into a committee for advisory purposes. The local boards of the state wUi 
coiitlniie to uphold Exchange rates, without connection with tl|e Exchange;;^ "^^ ^ ^c> ^ 



344 



Nbw Enolasd Inbubancb Exchahgb. 



Oommiltest. Chairmen. 

N. B. Vermont, J. H. Lelgfaton. 

BntlandCoM O. H. Ide. 

Windham Ca, Am<wShernum. 

Windsor Co., E. C. BroBh. 

KASSACRnBKTTS. 

Amb<ttvt, C. M. Slocnm. 

•Arlington C. L. Woodaide. 

Attleboro J. H. Border. 

Ayer H. R. Turner. 

Barnstable, J. B. Cornish. 

Beverly, C. B. Fowler. 

Brockton, Q. A. Famess. 

Brookllne, W.F.Dearbom,Jr. 

Cambridge, Geo. Neilev. 

Cape Ann, A. S. fiarrmgton. 

Chelsea, J. B. Cornish. 

Chioopee, J. B. Knox. 

Bastem Hampden, C. H. Wilkins. 

FaU River, J. E. Tilllnghast. 

Fitchbarg, G. A. Fumess. 

Framinghfun, W. R. Qray. 

Franklin, M. R. Bnzton. 

Haverhill, H. R. Turner. 



.W.F.Dearbom,Jr. 

C. B. Fowler. 

A. L. Berry. 

H.J. Ide. 

O. B. Chadwick. 

...U. H. Soule, Jr. 
...Q. E. Kendall. 
. . . A. C. Adams. 
...E.G. North. 
...W. T. Teale. 
.J. U. Leighton. 



*Hingham, 
Hoi voke, 
Hudson, . 
riydePark,. 
■awrence,.. 
' Lexington, 

Lowell, 

Lynn, 

Maiden, 

Marlboro, 

*Martha's Vineyard, . 

Middleboro, Amoe Sherman. 

Mllford, AmoB Sherman. 

Nantucket, M. R. EmerBon. 

Natick, W.F.Dearbom,Jr. 

New Bedford, A. C. Adams. 

Newburyport, N. S. Bartow. 

Northampton, A. K. Simpson. 

Northern Berkshire, F. D. Cross. 

Plttsfleld W.L. Wilcox. 

Plymouth, A. B. Fowler. 

Plymouth Co. (North),.. G. W. Hinkley. 

Provincetown, J. B. Cornish. 

Quincy C. H. Wilkins. 

Salem, W. R. Gray. 

Southern Berkshire J. B. Knox. 

Spencer, R. J. Tatman. 



OommiUees, Chatmui^ 

Springfield U. C. Croeby. 

Stonghton, F. A. Wetberbee. 

Tannton, Amos Shenaan. 

Waltham, CM. Slocom. 

Ware, G. H, Allen. 

Westfleld O. B. Chadwick. 

West Norfolk, G. W. Hinkl«y. 

Wevmouth, G. W. Hlnkler. 

Wobum, T. H. Dooley.' 

Worcester, U. C. Croaby, 

Worcester Co. (No.),. . . .G. H. Ide, 
Worcester Co. (So.), ...R.J. Tatman. 



RHODS ISLiAXD. 

Bristol A Providence,. . .8. B. Beed. 

Kent Co., W. T. Tfeale. 

Newport, B. C. Brush. 

Pawtucket, E. C. Bmsh. 

Washington Ca, A. L. Berry. 

Woonsocket, J. E. TUllnghast. 

CONNECTICUT, 

*Branford, J. D. Eaton. 

Bridgeport, J. B. Knox. 

Colchester, W. T. Fnraeea. 

Danbury, H. L. Hiscock. 

Dsnielsonville, J. H. Bnrger. 

Farmington Valley, J. D. Eaton. 

•Guilford J. B. Knox. 

Hartford, B. B. Cowles. 

Hartford Co. (No.). J. B. Knox. 

Housatonic Valley, E. B. Gowlea. 

Meriden, J. D. Eaton. 

Middletown, J. L. Kendig. 

Mllf ord F. A. Wetherbce. 

Naugatuck Valley E. B. Cowlea. 

New Britain, E. B. (Bowles. 

New Haven, J. L. Kendig. 

New London, A. K. SimpsoB. 

Norwalk, E. B. Cowies. 

Norwich, D. Prentice. 

Rockville, A. W. SewaU. 

Southern Middlesex, J. B. Knox. 

Stafford Springs, T. H. Dooley. 

Stamford, J. M. Forboah. 

Stonington, F. A. Wetberbee^ 

Wallingford, F. A. Wetberbee. 

Waterbury, J. L. Eendlg . 

WillimanUc, F. A. Wetherbee. 

Winsted, Geo. Nelley. 

Local boards exist, with the few exceptions indicated by asterisks, 
in the counties and towns, under the captions of states, in the above 
list. Each board has a local secretary, and there are stamp clerks in 
the following places: Addison and adjoining counties, Vt.; Andros- 
coggin county, Me.; Bridgeport, Conn.; Franklin County, Vt. ; 
Hartford, Coon.; Lawrence, Mass.; Meriden, Conn.; New Haven. 
Conn.; Norwich, Conn.; Pawtucket, R. I.; Rutland county, Vt.; 
Sprfngfield, Mass. ; and Worcester, Mass. 

TJie Exchange, in February, 1892, adopted the following resolation 
in regard to brokerage: 



• 1^0 local board. 



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Hew ^GLA]n> Mutual Life brsuRAHCB Com1»ahy. iM 

Tliat In the opinion of this Bxcbanse the rate of brokerage on aU risks located oat- 
side the incorporate limits of the city or Boston and the city of Providence shoold not 
exceed 10 per cent., and that the secretary Instruct the chairmen of the various local 
committeee U> request local boards under tnelr jurisdiction to adopt a rule limiting the 
rate of brokerage to not more than 10 per cent., and that the chairmen having jorls- 
diction over territory where no local board exists see that their committees take such 
action and report at an early date the result of their action to the secretary of the 
Exchange. 

At a meeting of the Exchange held December 8, 1892, the report of 
a committee recommending the application of the co-insurance clause 
to all specifically rated risks, with the exception of factory and paper 
mill risks, was adopted. [See Co insurance Clause.] 

New England Mntaal Life insurance company was chartered 
April 1, 1835, and began business December 1, 1848. A guaranty 
capital of $100,000 was required under the charter, one-half of the 
amount to be paid in in cash before the commencement of operations. 
One-fourth of the surplus was to be set apart for the establishment of 
a fund with which the capital stock might be redeemed at any time 
after ten years, the assured being authorized to vote on the question. 
As a matter of fact, the capital was eliminated in 1858, and from that 
time forward the management was purely mutual. The company was 
the pioneer of life insurance in New England. Judge Willard Phillips, 
one of the original corporators, was the first president, and under his 
administration, says a New York insurance superintendent, "the life 
policy was popularized in the offices, counting rooms, banks, work- 
shops, and firesides east of the Hudson; and no bank bill nor state bond 
was ever more sacredly regarded than the policies underwritten by 
Judge Phillips." The New England's first policy was issued February 
1, 1844, and at the end of the year the total number of policies out- 
standing was 459. The expenses during the first two years amounted 
to 9 per cent, of the gross receipts. The third year they were 11 per 
cent. From that they fell to 6 per cent., and at no time thereafter ex- 
ceeded 8. No non-participating policies were issued. At the end of 
five years a cash distribution of 20 per cent., equalingnearly one-half of 
the premium receipts for the year, was declared. Five years later a 
second distribution was declared, amounting to 80 per cent., and the 
third was a 36 per cent, division. These distributions were payable at 
the option of the policy-holders in cash, or could be used in the reduc- 
tion of future premiums. 

In 1866 the quinquennial system of distributions, as provided for 
in the charter, was supplanted by the annual method, a general law 
being passed that year authorizing the change. In 1864 the office of 
vice-president was created, and Benjamin F. Stevens, who had been 
the company's secretary practically from the time that it began busi- 
ness, was elected to the position. Judge Phillips retired from the 
presidency in 1866, and was succeeded by Vice-President Stevens, 
who has since remained at the head of the company. Joseph M. Oib- 
bens was elected secretary at the time of Mr. Stevens' advancement, 
and retained the position until 1887, when he was elected vice-pre^^nt, 
8. F. Trull succeeding him. The New England has had on(Pwo 
presidents since its organization. The present officers of the company 
arc Benjamin F. StevenSjpresident; Alfred D. Foster, vice-president; 
B. F. Trull, secretary; W. B. Turner, assistant secretary; Walter 0. 



246 Kew Hampshibb Iksubabob Rbpobt fob 1893. 

Wright, actuary. The directors are Charles U. CottiniL Warren Saw- 
yer, William T. Hart, William C. Endicott, Alfred D. Foster, Thomas 
Sherwin, William H. Wilder, Richard Briggs, Benjamin F. Stev'ens, 
Nathaniel J. Rust. The total premiums received by the company 
from its organization until January 1, 1893, amounted to $^,816,271: 
total paid to policy-holders, $54,106,851; amount invested for policy- 
holders, $33,046,537. The total amount paid to policy-holders, to- 
gether with the sum invested January 1, 1893, for their benefit, exceeds 
the premiums received by $12,336,607. The total income in 189S 
aggregated $4,166,685, the premium income being $3,021,100. The 
total number of policies in force at the end of the year was 81,337, the 
amount of insurance being $90,859,097. The total amount disbaned 
on account of death claims and matured endowments during the year 
was $1,538,887, distributions to policy-holders, $581,054. 

New Hampshire Board of Underwriters was organized bv 
New Hampshire companies, February 10, 1886, at Concord, N. u. 
It is a ratiog and supervising organization. Its presidents have been: 
Oliver Pillsbury, from organization to September, 1886; 8. B. Stearns, 
since that time. 

The companies now members of the organization are : the New 
Hampshire Fire; Granite State Fire, of Portsmouth; People's Fire, of 
Manchester; Portsmouth Fire Association; Capital Fire, of Concord; 
Fire Underwriters' insurance company; State Dwelling House insur- 
ance company; Concord Mutual Fire; Manufacturers' and Merchants' 
Mutual Fire; Cheshire County Mutual Fire; American Manufacturers' 
Mutual Fire; Home Manufacturers' and Traders' Mutual Fire; u£tna 
Mutual Fire. The local boards within its jurisdiction are as follows: 
Merrimack County, Concord; Strafford County, Dover; City of 
Manchester, Manchester; City of Nashua, Nashua. 

The officers and executive committee elected at the annual meeting 
in 1892 are: Stephen B. Stearns, president; C. C. Danforth, vice- 
president; Samuel C. Eastman, Concord, secretary; T. M. Lang, 
treasurer. A. F. Howard, E. G. Leach, S. C. Eastman, S. B. Steams, 
A. D. ToUes, W. H. Elliot, O. Morrill, L. Jackman, and F. W. Bar- 
/\ A geant, executive committee. 

O/ V ^^^ Hampshire Insurance Report for 1892. Commissioner 
^ y^ Linehan reported that the following companies had entered New Hamp- 
shire for business since the publication of his previous report: Ameri- 
can, of Boston: Home, of New York; Lancashire, of England; Man- 
chester Fire; Mercantile, of Boston; Niagara Fire; Phoenix, of Hart- 
ford; Queen, of New York; Scottish Union and National; Western of 
Toronto; American Employers' Liability; Lloyds Plate Glass, and 
Hartford Life and Annuity. Three fire companies withdrew. 

The commissioner discussed at much length the effects of the val- 
ued policy law upon New Hampshire, contending that it had been 
beneficial, that the fire waste had decreased and losses were fewer than 
before its enactment, and the rates were not higher. Quoting the re- 
tur^^f premiums and losses, he said: 

Ktadj of these flgnna will show that the rates are not, m a whole, higher, while 
the losses are Jast the opposite of what was predicted. With property insured to the 
amoant of ftlOT,686,666.fe more daring the latter period the losses are $806,94136 lesa. 
Pedacting th« busineae of the state cash matoals incladad in the abOYa table, maom of 



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Nkw Hahp8Hisb» iNsimAirca SxTPSBVistoK m« 1^7 

which paid dlTidands to their poUcy-hoIdeis, the ratio of praminmt to risks written 
for the Mkooe of the ineuntace placed since ilie passage of the law would be 1.18, and 
the ratio of losses to preodams for the same period woald be 86.6. For the corres- 
ponding period belbre the paasage of the law the ratio of premiums to risks written 
waa 1.95, and the ratio of lossea to premiums for the same time was 60.8. With this 
BUtement it will not be difficult to answer the question as to whether or not the 
ralned-policy law has been ii^nrioas, either to the interests of the companies or to 
those seeking Insurance. Six years' experience ought to demonstrato to the most 
skeptical that it has not led to arson and consequent loss, but, on the contrary, the 
companiee have been the /j^ners, while their patrons have not been losers thereby. 
It must snrely be a good law that beneftto both parties, the buyer and the seller, for 
than far such has been the resalt in New Hampshire. That this is the view of the 
altuation taken by the managers of the companies that left the state on the passage 
of the law la evident from the return of over 40 of them. 

The commisBioner defended hU action in revoking the certificate of 
the Hartford Life and Annuity, on the ground that it did only an 
asaeesment business in New Hampshire, and was therefore an assess- 
ment company, and the law made no provision for the transaction of 
business by non-state assessment companies in New Hampshire. He 
deToted some space to an excoriation of the endowment assessment 
companies, and defended the Barber law, which provided for their 
regulation. 

The receipts of the department for the year ending April 1, 1892, 
were $80,609, which included the tax on capital of home companies 
and premiums of non-state companies, and the expenses were $5,656. 

New Hampshire Life Underwriters Asgoeiation was organized 
at Concord, May 81, 1889, in response to a call issued by John J. Dil- 
lon of Manchester. The original officers were: John J. Dillon, presi- 
dent; George A. McKellar of Concord, and John D. Chandler of 
Nashua, vice-presidents; Charles E. Staniels of Concord, secretary; 
Charles 8. Parlcer of Concord, treasurer. The officers elected at the 
annual meeting, June 15, 1892, were: 8. B. Folsom of Dover, president; 
C. S. Parker of Concord, and C. £. 8taniels of Concord, vice-presidents; 
W. M. Morgan of Manchester, secretary; John D. Chandler of Nashua, 
treasurer. President Folsom died in October, 1892, leaving the office 
of president vacant. The present officers and executive committee, 
elected at the annual meeting, June 12, 1898, are: C. 8. Parker of 
Concord, president; C. H. Howard of Manchester, C. L. Harmon of 
Manchester, vice-presidents; W. M. Morean of Manchester, secretary; 
John D. Chandler of Nashua, treasurer. 8. F. Emery of Center Harbor ; 
F. N. Cheney of Manchester; Nicholas Frost of Concord; E. 8. Owen 
of Portsmouth; F. H. Carpenter of Manchester, executive committee. 

New Hampshire, Insurance Supervision in, 1852-1898. The 
insurance department in New Hampshire was established in 1852. 
Originally the board consisted of three members, and afterwards of 
two. In 1870 the statute was modified, providing for the appointment 
of but one commissioner. The incumbents of the office have been: 

Uri Lamprey, Warren L. Lane, Cliarles F. Brooks, 1861^1868 

Uri lAmprey, Warren L. Lane, Timothy Hoekins, 1858—1866 

Warren L. Lane, Uri Lamprey. Timothy Hoekins, 1854—1866 

Warren L. Lane, Timothy Hoskins, John E. Stanyan, .... 1866—1866 

Albert S. Soott, Jacob H. BU^ G. W. Conant, 1866-1867 

Alberts. Soott, Jacob H.Ela, Lorenzo Day, 1867-1860 

Oliver C.Flaher, Otis F.RTWaite, Benjamin M. Colby, .... 1800-186S 

C. v. Dearborn, G. W. ConanL Jamee Gordon, 186S— 1864 

James Gordon, F. 8. Greenlear, . i 1864-1864 



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d48 KbW tNSTTRAHCS Ck>]IPAHIB8 ObGANIKBD IN 189d. 

F. 8. Greenleaf, Joseph Qllman, 1865—1866 

Joseph GUinan,B.M:TopliS, John Fdch, 180^-1887 

E. It Topllll, John Pelch, 18ff7-1888 

John PVilch, A. B. Wight, Francis Winch, 1868-1869 

A. B.Wyatt, Francis Winch 186©— 1OT9 

Oliver Plllsbnry [died hi office], 1870-1888 

Henry H. Hose [died in office], 1888-1890 

John C. Linehan, 1880— 

being the preient incumbent. The tenure of the office is three years, 
the appointment being made by the ffoyernor and executive council. 
There is no provision for a deputy, the labor of the office being per- 
formed br the commissioner and derk. The latter is Mrs. Irene A. 
Huse, widow of a former insurance commissioner. [3ee Linehan.] 

New Insarance Companies Organized In 1892. The follow- 
ing insurance companies were organized in 1892: 

FIBB IHSURASCB OOKFAlOBa. 

Paid np Aatborised 
Capital. 



CoxPANm. Capital. Capital. 

Colombian Fire, LooiSTllle, $900,000 

Iowa Fire, Des Moines, 96,000 $100,000 

Rntland Fire, Rntland, Vt., 100,000 

Total, $896,000 $100,000 

This was the smallest output of years, and demonstrated how dis- 
trustful capital had become about investments in the fire insurance 
business. There were announcements of companies " projected," but 
very few materialized. The Chicago insurance companv, with $100,- 
000 cash capital, filed papers, and elected officers, and there were ru- 
mors of a Commercial Fire of Chicago, with $200,000 capital. In 
Virginia the German-American Fire insurance company of Richmond, 
with ''a maximum capital" of $100,000, was chartered, and the Old 
Dominion Fire insurance company of Portsmouth, with $100,000 cap- 
ital, was "mentioned." 

Undoubtedly the most important venture of the year outside of the 
joint stock circle was the Assurance Lloyds of America, which was 
started bv Beecher, Schenck <& Co. The Atlas Mutual of Boston, 
organized last year, began business in April. 1892. 

Three companies, which reinsured their business in 1801 or 1893. 
resumed taking risks — the Exchange Fire and New York Fire of 
New York, and Citizens of Cincinnati. 

As to foreign companies, the Palatine of Manchester entered the 
country generally during the year, while the Atlas. Manchester, and 
Prussian National, admitted to some states in 1881, extended their 
business into others after January. The Patriotic of Ireland entered 
California. 

LIFB AND CASUALTY INSURAHOB OOMPANIBS. 

The year was more than ordinarily fruitful in new company projects, 
but only two took actual form. These were the Columbia Mutual Life 
of Providence, R. I., with $100,000 capital, which began business in a 
small way, and the Minneapolis National Life Association. The pro- 
jected companies announced were the Minneapolis Mutual Life; Colum- 
bia of Chicago, $100,000 capiUl ; Chicuro Mutual Life, $100,000 capital: 
Building Loan Life of Chicago, $500,000 capital; People's Life of the 
State of New Jersey, $200,000 capital, and the Northeastern Life of 



New Mexico, InbttranCb duPBittistoN m. ^40 

Manchester, N. H., -with $100,000 capital. The charters of the three 
Chicago companies were filed with the auditor of HHdois. 

The American Annuity company of New York was incorporated 
with $100,000, to issue life policies and annuities. 

At Baltimore, the Maryland Theft Insurance company was incor- 
porated with $100,000 capital to insure against burglary, larceny, and 
theft of all kinds; also to insure travelers against injury or damage to 
baggage and freight in traimtu. 

New Jersey Association of Fire Underwriters was organized 
at Trenton, N, J., in May, 1893, by some fifty representatives of fire 
insurance companies, the purpose, as stated, being ''to promote the 
general interest of fire insurance matters, and procure united demand 
for such legislation as is needful for the business." The following 
officers were elected: R. P. Conlon of Newark, president; R. P. Miller 
of Camden, vice-president; and R. V. Rogers of Trenton, secretary 
and treasurer. The executive committee consists of J. W. Morrissee 
of Paterson; C. J. Adams of Atlantic City; John Muller of Jersey 
City; and J. Prank Appleby of Asbury Park. 

New Jersey Insurance Report for 1892. The companies ad- 
mitted to the state during the previous year were the National Fire, 
Rochester-Gkrman, and Queen of New York; Security of New Haven, 
and New York Plate Glass. During the same period thirteen fire in- 
surance companies withdrew from the state. The Hudson River Fire 
and Marine of Jersey City, failed. Commissioner Duryee deplored 
the increasing fire waste, and recommended the adoption of a law re- 
quiring compulsory investigations of fires by officials appointed for 
the purpose. He called altention to the new standard fire insurance 
policy adopted by the state. He also denounced the assessment en- 
dowment swindles. 

New Jersey Life Insurance Association. [See Life Insurance 
Association of New Jersey.] 

New Jersey, Insurance Supervision in, 1875-1893. The depart- 
ment of banking and insurance in New Jersey was created by act of 
the legislature, approved February 10. 1891, and went into operation 
on April 1. The first "commissioner of banking and insurance" ap- 
pointed under the act was Col. George B. M. Harvey of South Orange, 
N. J., who held office from April 1 until his resignation in June rol- 
lowing. The present commissioner, George 8. Duryee of Newark, 
was appointed to fill the vacancy, and assumed the duties of the office 
June 26. Thomas K. Johnston of Trenton was appointed deputy com- 
missioner under the act. The Hon. Henry C. Kelsey, secretary of 
state, was ex officio commissioner of insurance of the state from the 
enactment of the general insurance law, April 9, 1875, until April 1, 
1891, when the new department went into operation. The state had 
DO insurance commissioner prior to the ptissage of the general insur- 
ance law. 

New Mexico, Insurance Supervision in. The territorial act of 
February 18, 1883, requires insurance companies to report to the terri- 
torial auditor. He is chosen for a term of two years. Trinadad Ala- 
rid was auditor from 1882 to 1891. In the latter year Demetrio Perez 
sneceeded, and is the present auditor. The deputy is Celestino Ortiz. 

12 ^....... Ogle 



250 Kbw York fioABD of Pibm VvDMKW&ttKiSLA* 

New Orleans Fire Insarance Compaet went into effect April 2, 
1803. Notice was given tliat the Wliiting rates would take effect at 
once, and tlie former system of stamping would be resumed. W. C. 
Nelson of Nashville was appointed manager. 

New Orleans Insarance Association, in Septeml)er, 1892, elected 
its secretary, George Lanauz, to be president, to fill the ▼acancy 
caused by the death of Pierre Lanauz, who died September 6. Cliarl^ 
D. Delevy, connected with the company many years, was appointed 
secretary. 

New Orleans Insarance Clnb, at its annual meeting, Decem- 
ber 8, 1892, elected L. M. Finley, president; D. A. S. Yaught, vice- 
president; and Charles Janvier, secretary. 

New Orleans Insurance Company retired from business in 1892. 
At a meeting of the stockholders of the company, held_May 21, it was 
decided by a vote of 1,700 shares to 147 shares to place the company 
in liquidation. Bidding for the business was lively among the local 
companies, but the Phoenix of Hartford secured it. President Tuyes 
of the New Orleans company was appointed resident agent of the 
Hartford company at New Orleans. The retiring company was 
eighty-eight years old and one of the oldest in the United States, hav- 
ing begun business in 1805. 

New York Board of Fire Underwriters was organized May 8. 
1868. [For extended history of New Y ork city associations of fire under- 
writers from 1819 to the present time and of the present board, see the 
Cyclopedia of Insurance for 1891.] The thirty-fifth annual raeeting 
of the board was held May 16, 1892, when officers and members of 
commiitees were elected as follows: 

Preflident, Elijah R. Kennedy; Tice-prasldent, John H. Wathbom; vecretary, 
W. De L. Bonghton; asBlstant secretary, Thomas J. Gaines; treasoKr, Lindwy 
If array, Jr. 

Committee on FtfUtnce.-- Henry W. Eaton, T. T. Brown, M. 8. Drigss, John M. 
Whiten, Henry E. Bowers, J. Remsen Lane, Hago Schamann. 

Committee on Fire Patrol.— Qeorffe T. Patterson, Mason A. Stone, Dmvid Adee, 
J. J. Neetell, aeorge B. Rhoads, Bei^amin Q. Ackermao, W. B. Ogden. 

Committee on Laws and Legislation.— 3. Montgomery Bare, J. U. Kattenetroth. 
Charles Sewall, W. S. Banta, Peter Notman, Oeoi^ge R. Crawford, George P. Sheldon. 

Committee on Surveys.— V, O. Affeld, A. D. Irving, Beoonl Lockwood, James M. 
HodgeR, J. R McCay, J. 8. Eadie, B. F. Beddall. 

Committee on Police and Origin of Flru.-Qeorge W. Babb, Jr., B. Lltchfldd, 
F. C. Moore, C. E. Shade, Frank M. Parker, Frank T. Stinson, and Charles S. Bartow. 

The above constituted the " regular " ticket. There was an opposi- 
tion ticket which substituted Mr. John W. Murray for president, the 
remainder of the ticket being the same. The vote for president was: 
Kennedy 87. Murray 19. At the annual meeting in May, 1888, Messrs. 
Kennedy, Washburn, and Boughton were re-elected. The following 
is a tabulated list of the officers of the " New York Board of Pire In- 
surance Companies " from its organization in 1868 to 1867, and of the 
" New York Board of Fire Underwriters" from that date to the pres- 
ent time: 



Digitized by 



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Hew Yobk Ftrk Patbol. 



^61 



Year*. 



PresideniB. 



1658 
1859 
IWO 
1S61 

im 

1888 
1861 
1865 
l^m 
1887 
IH88 
186B 
1'<T0 
1871 
1«T« 
1873 
1R74 
187B 
1S7B 
1^77 
1878 
18W 
1N80 
1881 
1882 
1888 
1884 
1885 
1886 
1887 
1888 
18K9 
1S90 
1}<9I 
18<hi 
1808 



Joaeph Walker, 
Josepb Walker, 
George S. Fox, 
OeotKe S. Fox, 
Richard J. Thome, 
Jonathan D. Steel*, 
Qeorge T. Hope, 
Qeor^e T. Hope, 
James M. McLean, 
James M. McLean, 
James M. McLean, 
Henry A. Oakley, 
Henry A. Oakley, 
George W. Savage, 
George W. Savage, 
Rndolph Qanigae, 
Bdgar W. Crowell, 
Sdgar W. Crowell, 
Daniel A. Heald, 
Daniel A. Heald, 
Bdward A. Walton, 
Bdward A. Walton, 
Thos. F. Jeremiah, 
ThoB. F. Jeremiah, 
Peter Notman, 
Peter Notman, 
Nicholas C. MiUer, 
Nicholas C. MiUer, 
Henry H. Hall, 
Henry U. Hall, 
Geoige M. Colt, 
George M. Colt, 
Samuel P. Blagden, 
Samnel P. Blagden, 
EMJAh R. Kennedy, 
Elijah R. Kennedy, 



Vice-PresideuU. 



George C. Satlerlee, 
George C. Satterlee, 
George C. Satterlee, 
George C. Satterlee, 
Jonathan D. Steele, 
George T. Hope, 
James M. McLean, 
James M. McLean, 
Bdgar W. Crowell, 
Bdgar W CroweU, 
Henry A. Oakley, 
George W. Savage, 
Georse W. Savage, 
Rudolph Garrigne, 
Radolph Garrigne, 
Bdgar W. Crowell, 
Daniel A. Heald, 
Daniel A. Heald, 
Bdward A. Walton, 
Bdward A. Walton, 
Thos. F. Jeremiah, 
Thos. F. Jeremiah, 
Peter Notman, 
Peter Notman, 
Nicholas C. MiUer, 
Nicholas C. Miller, 
Henry H. Hall, 
Henry H. Hall, 
George M. Coit, 
George M. Coit, 
Samuel P. Blagilen, 
Samael P. Blagden, 
Blilah R. Kennedy, 
BlQah R. Kennedy, 
John H. Washbam, 
John H. Washburn, 



Secretaries. 



John Milton Smith. 
William F. Underbill. 
William F. Underbill. 
William F. Underhlll. 
William F. UnderhUl. 
WUliam F. Underbill. 
Robert D. Hart. 
Robert D. Hart. 
Frank W. Ballard. 
William W. Benshaw. 
William W. Henshaw. 
William W. Hensbaw. 
William W. Henshaw. 
WUllamW. Henshaw. 
William W. Henshaw. 
Williun W. Henshaw. 
William W. Henshaw. 
WUIlam W. Henshaw. 
William W. Henshaw. 
William W. Henshaw. 
William W. Henshaw. 
William W. Henshaw. 
William W. Henshaw. 
William W. Henshaw. 
William W. Henshaw. 
William W. Henshaw. 
WUliam W. Henshaw. 
WUliam W. Henshaw. 
William W. Henshaw. 
William W. Henshaw. 
William W. Henshaw. 
William W. Henshaw. 
William W. Henshaw. 
William W. Henshaw. 
W. De L. Bonghton. 
W. De L. Bonghton. 



The treasurers of the board have been Charles H. Birney, 1868—1866; Martin L. 
CroweU, 1867: Marcus F. Hodges, 186&-1881; Martin L. CroweU, 1889-1888; Wm. 
A. Anderson, 188^-1888; Wm. M. St. John, 188»-1890; Lindley Murray, Jr., 1880— 

New York Fire insurance company, which re-insured its risks in 
the Home of New York in April, 1891, resumed business in February, 
1892, with Augustus Colson, former secretary, as president, Charles 
A. Hull, former yice-president of the Howard, as Tice-president, and 
W. J. Eeeler as secretary. 

New York Fire Lloyds, under the management of E. R Ken- 
nedy, began business in February, 1892. 

New York Fire Patrol. The present effective orninization 
known as the New York Fire Patrol was created by the ifew York 
Board of Fire Underwriters under the authority of the charter granted 
to the board by the legislature in 1867, but it was preceded by organ- 
izations liaTing substantially the same purposes as far back as thirty- 
two years. In 1885 the ''Association of Fire Insurance Companies" 
employed four men whose duty it was to attend all fires and protect 
the interests of fire underwriters by preserving property exposed to 
fire and damage by water. They received a salary of $250 per annum 
each. In 1839 the association employed forty men as a fire police in 
the mercantile district. The men were firemen or ex-firemen, and wore t 



d5d Kew York Iitbttbakob I^ie^rt Vob IdOd. 

red fire caps. They ^ve the alarm to each other by means of whistlei 
and rattles. The first corers for the protection of merchandise from 
water were used in 1845. Qeorge T. Hope was chairman of the fire 
patrol committee in 1858, and was instrumental in the preparation of 
the first code of rules placed in the hands of every member of the 
force. A second patrol company was organized in 1855 and a third in 
1867. 

In 1867 the New York Board of Fire Underwriters was chartered 
by an act of the legislature, by which power was granted this corpora- 
tion "to provide a patrol of men and a competent person to act is 
superintendent, to aiscover and prevent fires, with suitable apparatus 
to save and preserve property or life at and after a fire; and the better 
to enable them so to act with promptness and efficiency, full power b 
given to such superintendent and to such patrol to enter any buDding 
on fire or which may be exposed to or in danger of taking fire from 
other burning buildings, at once proceed to protect and endeavor to 
save the property therein, and to remove such property, or anv part 
thereof, from the ruins after afire.'' By the same act every fire in- 
surance company doing business in the city, whether a member of the 
board or not, was compelled to pay a per centum tax upon its premium 
income within the city limits for the support of the fire patrol, which 
heretofore had been supported by voluntary contributions. 

The patrol was and continues to be under the government of the 
committee on fire patrol of the board, elected annually. In 1876 fire 
patrol No. 4 and in 1893 fire patrol No. 5 were put into operation. At 
the time of the last report of the committee, being for the year ending 
April 80, 1892, there were at the several fire patrol stations in use and 
in reserve 1,267 stock and 215 roof covers in good order. Covers are 
manufactured by members of the fire patrol under the direction of the 
superintendent. The fire patrol has in use 1 Silsby steam-pumping 
engine, 9 large wagons, 5 small wagons, and a full supply of the im- 
plements used in the service. The uniformed force consists of the 
following: Patrol No. 1. No. 41 Murray street, 42 officers and men; 
patrol No. 2, No. 81 Great Jones street, 40 ofi^cers and men; patrol 
No. 8, No. 104 West 80th street, 29 officers and men; patrol No. 4, 
No. lis East 90th street, 14 officers and men; patrol No. 5, No. 307 
West 121st street, 14 officers and men; total, 189. The whole force is 
under the immediate command of Superintendent Abram C. Hall 
The committee on fire patrol elected at the last annual meeting of the 
board is as follows: George T. Patterson, chairman. Mason A. Stone, 
David Adee, J. J. Nestell, George B. Rhoads, Benjamin G. Ackerman, 
and W. B. Ogden. The secretary of the committee is William M. 
Randell. The amount expended to maintain the fire patrol for the 
year ending May 1, 1892, was $125,197, of which $71,228 was for 
salaries and $12,285 for supplies and repairs. 

New York Insurance Report for 1892. The first part of the 
thirty-third annual report of the superintendent of the insurance depart- 
ment, dated February 27, 1892, recoided no new admissions of fire 
companies during the department year, but named the following as 
having discontinued business in the state: Anglo-Nevada, Boatman's 
Fire and Marine of Pittsburgh, Commercial of San Francisco, Fire- 
men's of Baltimore, and Prudential Fire of Boston. ^ 

.,,,_., ^oogle 



NbW TOBK iNiUSANCE RbPOBT FOB 1892. 268 

The foUowiog companies were organized in the state: Commercial 
Union of New York, with $200,000 capital; Queen Insurance Com- 
pany of America, of New York, $600,000 capital. 

The superintendent deplored the results to lire insurance companies 
of the business of 1891. In the face of a decrease in assets of nearly 
$6,000,000, their liabilities had increased $11,000,000. He estimated 
that they had made a net loss during the year of about $1,500,000. 
The outlook for the smaller companies was certainly not encouraging. 
The loss to the state of New York annually by fires was over $15,000,- 
000. He promised to prepare a bill to introduce in the legislature, 
looking to the investigation by the proper authorities of the causes of 
fires within the state. 

Defects in the law of 1885 permitting the insurance of surplus lines 
in companies not authorized to do business in the state, were pointed 
out by the superintendent. He recommended that the affiant be 
required to certify to the fact that diligent effort had first been made 
to place the insurance in regularly suthorized companies, without 
avail ; and, further, that the aSSdavit should be made by the assured, 
and not bv second parties, " setting forth that the person, firm, or cor- 
poration desiring insurance is unable tQ procure the amount . . . 
required . . . from . . . companies duly authorized to 
transact business in this state." 

Part two of the report, dated May 2, 1892, covering the business of 
other than life companies, stated that the admissions during the year 
had been confined to three: the American Casualty of Baltimore, New 
Jersey Plate Glass, and United States Industrial of Newark, while one 
company, the Imperial Life of Detroit, had withdrawn. Two companies 
had been organized under the laws of the state, the New York Plate 
Glass and the Lawyers Surety. The iEtna of Hartford had been 
licensed to do an accident business. Two domestic live stock insur- 
ance companies had been organized and five co-operative life and acci- 
dent associations had been admitted to the state. 

The superintendent expressed the hope that uniform non-forfeiture 
laws may, at an early date, be adopted by several states. He alluded 
to the results of the examination of the ^ew York Life insurance com- 
pany by the department, declaring that they had " fully restored the 
company to that public confidence which previous criticism of ^ its 
management had somewhat affected." while congratulating the 
great life companies upon their energy and enterprise, the superintend- 
ent declared that the enormous volume of business transacted was 
Indication of unhealthv growth. Under the stimulus of rivalry 
between companies, high commissions paid for premiums offer tempta- 
tions to violate the anti-rebate laws, and the forcing by agents of 
policies at cut rates on first year's premiums, discourages their contin- 
uance at table rates by the policy-holders, thus giving rise to the 
unprofitable amounts of lapsed insurance which are reported every 
year. The superintendent added: 

Vew policies lapee after their second year, as the laws provide for paid-up insur- 
ance after the third year's premioms have been paid. These lapsed policies generally 
represent insarance obtained through high commissions, and on which the greater part 
of the reserve has been ciiarged to general assets ; it is forced business which is nroftta- 
ble neither to the company, the agent, nor the individual policy-holder. 



The correction of these abuses lies in great measure with the companies themselves, t 



254 New Tobk Life Insurajycb Compaht. 

Ix>wer rates of compensation to agents, firm support of the provlBions of the anti-Tebate 
law, restriction of quality of insurance written to what is called for in bonaJUU appUca- 
tions for only such amounts as they are financially able to keep in force, and a careful 



and prudent limitation of the business of the year to a volume shown by experieu^ to 
be safely within the bounds of necessity and good management should all be brought 
about without further intervention of statutory requirements. 



The receipts of the insurance department for the fiscal year ending 
September 80, 1891, were $182,630, and the ezpenditnres $78,787. 

New York Life Insurance Association. [See Life Lisurance 
Associatiou of New York.] 

New York Life insurance company. When the year 1893 began, 
the examiners of tlie New York state insurance department were clos^ 
ing their labors in the investigation of the condition of the company 
and the official course of the management. [For a statement of the 
events immediately preceding the examination of the company, see the 
Cyclopedia of Insurance for 1891.^ The report of the examiners was 
made public by Superintendent Pierce January 22, 1892. The exam- 
ination had be^n June 21, 1891, and the report was dated January 19, 
1892, so that six months and twenty-nine days had been consumed in 
the examination and the preparation of the report thereof. The rtport 
of the superintendent summarized and commented upon the report 
of the examination of the company by Deputy Superintendent Shan- 
non, which accompanied it. Regarding the financial condition of the 
company, Mr. Shannon found assets of $120,710,691, and liabilities of 
$106,002,016. leaving a gross surplus of $14,708,676. The assets were 
nearly $5,000,000 more than were claimed by the company in its last 
annual statement. The report condemned the agency management of 
the company. Extravagant commissions and unwarrantable allow- 
ances were paid to agents and the accounts with them were very 
loosely kept. There were serious errors of Judgment in some of the 
company's real estate investments. There was a loss on Holbrook 
Hall in New York of $529,867; on the Plaza Hotel of $283,994; on 
real estate in Paris of from $315,404 to $632,204, according to different 
appraisements. The course of the management in allowing Loomis L. 
White, one of the trustees, to purchase and sell all the company's se- 
curities was condemned. The account books of the company* were 
badly kept. The integrity of Mr. Beers and the officers was not im- 
puted by the report. 

On January 25, the trustees of the company met and appointed a 
committee of five "to consider the report of the superintendent of 
insurance and consider what action should be taken in review thereof.'^ 
The committee was William L. Strong, G. G. Baldwin, John Claflio, 
Walter H. Lewis, and Edward N. Gibbs. On February 2, an address 
by President Beers to the policy-holders of the company was issued. 
He reviewed the report of the insurance superintendent in detail and 
explained and defended his management of tlie affairs of the company. 
He suggested several reforms, among them the prevention of giving 
rebates or commissions to the insured and the limitation of the amount 
of insurance that companies may put on their books. 

Six days after the publication of this letter, on February 8, Mr. 
Beers resigned the presidency, to take effect February 10, giving as bis 
reasons that at his advanced age and after the drdeal to which be had 



Kxw ToBK LiFB Insu&akcb Company. 255 

been subjected, he needed relief from labor, and that he recognized 
the fact that the asBaults upon him, however unjust, might, if he 
remained in office, prove detrimental to the interests of the company. 
In accepting the resignation the board of trustees adopted resolutions 
of regret and eulogized Mr. Beers for his great services to the com- 
pany, in recognition of which it authorized the execution of an agree- 
ment with him to pay him an annual salary of $87,500 during the 
remainder of his life, m return for which he was to render service to 
the company in an advisory capacity. On February 13 the board met 
and elected John A. McCall, then comptroller of the Equitable Life 
AjBsurance Society, president of the New York Life insurance com- 
pany, to succeed Mr. Beers. Oeorge W. Perkins, the western agency 
manager, was elected third vice-president. Messrs. Charles S. Fair- 
child, William C. Whitney, Woodbury Langdon, and E. D. Randolph 
were elected trustees to fill vacancies. Ruf us W. Weeks was appointed 
secretary of the board of trustees. At a meeting of the board held 
February 24, C. C. Whitney, many years the private secretary of ez- 
President Beers, was appointed secretary of the companv. Soon after 
this the suits of the company against the Time^ for libel were with- 
drawn and Mr. Sanchez of the Spanish-American department, who 
also had a libel suit against the Times, at the request of the new man- 
agement abandoned it. 

The annual meeting of the policy-holders of the company came of? 
April 18, 1892. Mr. Beers having resigned as a trustee, ex-Mayor 
Grace was chosen to fill the vacancy and Hiram B. Steele was chosen 
to succeed John N. Steams. The other old trustees of the class of 
1892 were re-elected. The new board then met and elected Hugh S. 
Thompson, -ex-governor of South Carolina, to the newly-created office 
of comptroller. Following this. President McCall announced that he 
had re-instated Theodore M. Banta in the cashiership. 

At the annual meeting of the trustees. May 11, 1892, Mr. McCall 
and the other officers were unanimously re-elected. Three announce- 
ments were made : that the Slocum committee of policy-holders, having 
accomplished the purposes for which it was organized, had disbanded; 
that Mr. Sanchez, the manager of the Spanish-American department, 
and the late partner of the defaulting Merzbacher, had paid oS all the 
indebtedness, amounting to $419,882.92; that the enforcement of the 
contract made by order of the trustees with Mr. Beers, to pay him an 
annual half -pay salaiy of $87,500, would now be resisted by the com- 



pany, and the matter referred to the courts for an opinion. [A copy 
? the contract appeared in the Cyclopedia of Insurance for 1891.1 
In June, 1892, the company issuea its new " accumulation policy. 



the features of which are described in the sketch of this company 
further on. [See also Policy Forms, New York Life.] 

July 1, 1892. Charles N. Jones, of the actuarial department of the 
Northwestern Mutual Life insurance company, was appointed assistant 
actuary of the New York Life. Later Louis A. Cerf, California state 
agent of the company, was appointed inspector of its agencies in the 
southwestern states, with headquarters at Chicago. In August Edward 
N. Gibbe. a trustee of the company, was appointed treasurer. 

The New York supreme court, first department, rendered an opinion 
in the fnatter of the [salary of ex-Presidept Beers in November, 189SL j 



2M Nbw York Lifs Inbubahcb Coxpant. 

The opinion M^as written by Justice Van Brunt and ooncarred in by 
Justices O'Brien and Lawrence. It was to the diect that Mr. Been 
bad no valid claim for the salary. The court found that the idea of re- 
muneration for past services permeated the whole agreement, since no 
future service was to be rendered by Mr. Beers. The board of trustees 
had no ri^ht to make a perpetual contract thereby taking the manage- 
ment of the business out of the control of their successors and the owners 
of the company. The fact that Mr. Beers was present and presided at 
the meeting at which the contract was made, -raised the presumption of 
fraud. There was an absence of consideration on which to base the 
contract. 

Counsel for Mr. Beers promptly gave notice of appeal from this de- 
cision to the general term of the supreme court. But before further 
steps were taken the company made a proposition to compromise the 
dispute with the ez-president by paying him half of the amount voted 
him by the board of trustees, to wit, $18,750 per annum for the re- 
mainder of his life, and this offer was accepted by Mr. Beere. Presi- 
dent McCall said to a reporter, in explanation, that, "Mr. Beers, al- 
though 71 years old, is still invaluable as an adviser," and he added : 

The company, al though BucceMiful In its suit In the supreme coart, had preferred t^ 
coniproinii«c rathtT than run the rink of having; the Judgment reversed by the coon of 
appals. The prfsent officers had a khidly feeling for Mr. Beers. Mr. McCall bad no 
personal feeling in the affair, but had opposed the contract because he did not think that 
the comiMiny nhould pay so large a sum for little or no return, unless the courts decided 
that it was necessary. If the sum to have been paid to Mr. Beers yearly had bcvn 
smaller, no contest would have been made. A committee at first had fixed the amoost at 
$S5,000. 

During the year the new president made several tours of the coun- 
try and a visit to Europe, in the interests of the company. [See Mo- 
Call, John A.] 

BKRTCn OP THB COMPANY. 

The charter under which the New York Life insurance company 
does business was originally issued to the Nautilus insurance companj 
of New York, May 21, 1841, for marine and fire insurance. The au- 
thorized capital was $200,000, with the privilege of increasing the 
amount to $400,000. Organization under the charter was not effected, 
however, until nearly two years later, and April 12, 1845, the charter 
was amended so as to enable the company to do business wholly on 
the mutual plan. It was also authorized to transact all forms of life 
insurance business. J. De Peyster Ogden was elected president and 
Pliny Freeman, secretary and actuary. It was decided to confine its 
operations to life insurance. The number of policies issued during the 
first 3'ear of the company's existence was 54 whole life and 29 short 
term, the former insuring for $164,000 and the latter for $82,250. 

In 1847, two years later, Aaron M. Merchant succeeded Mr. Ogden 
as president of the " Nautilus Mutual Life insurance company," as it 
was then termed, and the other officers were Robert B. Coleman, vice- 
president; Pliny Freeman, actuary; Drs. George Wilkes and Cornelius 
U. Bogert, medical examiners, and Orsamus Hushnell, solicitor or at- 
torney. Among the trustees was James Harper, "late mayor of the 
city of New York," and at the foot of the list of trustees was the name 
of Morris Franklin, * * president of the board of aldermen." Mr. Frank- 
lin became president the next year. The second year's report showed 



New Yobk Lifb Inbubahcb Comfaitt. ' 257 

682 policies ismed insuring $1,846,828, a premium income of |41,746.41, 
and death losses paid of $6,994.18. 

The New York legislature passed an act, April 5, 1849, altering the 
name of the corporation to the New York Life insurance company. 
Under the amended charter, marine, inland, and fire insurance were 
eliminated, the business being restricted to life insurance and the exe- 
cution of trusts and annuities. The by-laws, which were adopted at 
that time, provided that the company's transactions " should be con- 
fined exclusively to insurance on lives and to insurance appertaining to 
or affecting life." The business of the company grew steadily, and 
when the civil war was over, and the era of great prosperity in life in- 
sorance succeeded, the New York Life, under the superior energy^ and 
aptitude of its managers, forged ahead rapidly and took position m the 
front ranks of the greater companies. 

The New York Xife was one of the first companies in this country 
to inaugurate? plans for the abolition of the forfeiture feature in life in- 
surance. It introduced as early as 1860 its ten-year non-forfeiture 
policjT* which was rapidly popularized throughout the country. Ton- 
tine mvestment policies were also devised by the New York Life. 
These policies, as a class, participate in the surplus of the company. 
But no dividends are allowed, augmenting the amount of the individ- 
ual policy or diminishing the cash payments required during the ton- 
tine period selected, the surplus accruing to policies of this form being 
placed to the credit of the class to whicn the policy belongs. At the 
completion of this period it is divided exclusively among the survivors 
of the class who have kept their policies in force. These policies as 
first issued contained no non-forfeiture clause, but this has since been 
incorporated. The company issues a five-year dividend policy, with 
options of settlement similar to tontine options at the end of each five- 
year period; also ten -year renewable term policies and insurance bonds 
with guaranteed interest. One of the company's latest forms of policv 
issued in 1890, was designated as *' A combination term and life pol- 
icy." This policy was the outcome of the so-called ordinary life dis- 
tribution policy, which was objected to by the Massachusetts depart- 
ment. [See Policy Forms, New York Life.] In 1892 the "Accumu- 
lation Policy '' was issued. The benefits provided under this policy can 
be enumentted as follows : 

1. The ixuarance payable at death. 

9l Paid-up Insarance in case payment of premiams is discontinued after three 
years, premiums have been paid : 

(a) Policy extended for Its full amount, during a period shown therein, If no re- 
quest is made, or, 

(b) Policy endorsed as paid-up for a proportional amount, as shown therein, if re- 
quested within six months ; 

8. Six options in settlement when the policy has been in force twenty years. The 
period may be ten, fifteen, or twenty years, as desired, and the options include (a) guar- 
anteed casa value, (b) continued insurance, (c) annuity for life, (d, e, f) combinations of 
the three foregoing. 

4. One month's grace in payment of premiums. 

6. The privilege of re-instatement within six months after default in payment of 
any premium, if the insured is in good health. 

6. Gash loans at 5 per cent. Interest after the policy has been in force five or more 
years. 

7. No restrictions of any Idnd imposed with respect to occupation, residence, 
travel, habits of life or manner of death. 

8. The policy incontestable from any cause after one year, if the premiums are paid 

"'^'^ 18* „,„„.„„„, Google 



258 Nbw York Lifb Insubakcb Oompakt. 

In October, 1886, William H. Been, who liad gucceeded Hiny 
Freeman as actuary in 1864, and had n^radually become a powerful in- 
fluence in the management of the company, was elected president to 
succeed Mr. Franklin, who had just died. A month later Henry Tuck 
was elected vice-president, Archibald H. Welch, second vice-president, 
and Rufus W. Weeks, actuary. This official roster continued up to 
1892, when it was broken by the resignation of President Beers. The 
accusations made against the management by a daily paper, led the 
trustees to call upon the New York insurance department to investi- 
gate the condition of the company. The result of the examination, 
which covered a period of over six months, was to vindicate the sol- 
vency of the company to the highest degree, while it censured the 
management for acts of negligence, which had caused some losses to it. 

The superintendent of the insurance department, commenting upon 
the condition of the company as found by the examiners, said: 

The most Mtleftustorv rwnlt Appearing in ttaU report, is the eondnekm reaehed, 

falii 



that this great and uaeftil inatitntion of oar atate, whoee baaineaa tntweeta and rala- 
tioDB extend, and are beinj; advanced In nearly every atate of onr Union, and In to 
many of the civilized coantries of the world, and whoae policy-holdera therein may be 



of a BQrplQfl of available aeMta and property exceeding it« preeent liability by the 

of $6.(h8.186 83 accmed npoD its general accoant and |8,<nojS89.60 opon ita tontine 
accumnlation. Such a reealt was one moat earnestly deaired by this departm«nt. 
Thoee interested may be aasared that this conclasion is accurate and tmatworthy. 

The resignation of Mr. Beers as president was followed by a re- 
organization of the official staff. The new administration was as fol- 
lows, some of the appointments being made later in the year : John A. 
McCall, president; Henry Tuck, vice-president; Archibald H. Welch, 
second vice-president; George W. Perkins, third vice-president: Rufus 
W. Weeks, actuary; Charles N. Jones, associate actuary; H. C. Rich- 
ardson, assistant actuary; Edward N. Gibbs, treasurer; Hugh S. 
Thompson, comptroller; 0. C. Whitney, secretary; Darwin P. Kings- 
ley, superintendent of agencies; J. A. Brown, auditor; T. M. Banta, 
cashier; A. Huntington, M.D.. medical director; 8. H. Carney, M.D., 
associate medical director; M. L. King, M.D.. assistant medical 
director; O. H. Rogers, M.D., assistant medical director. Under the 
re-organization the trustees now are, William H. Appleton, C. C. 
Baldwin, William R. Grace, William A. Booth, William F. Buckley, 
John Claflin, Charles 8. Fairchild, Edward N. Gibbs. W. B. Horn- 
blower, Woodbury Langdon, John A. McCall, Walter H. Lewis. H. C. 
Mortimer, Richard Miiser, Edmund D. ' Randolph, Hiram B. Steele, 
William L. Strong, Henry^ Tuck. A. H. Welch, Augustus G. Paine. 
The business of the New York Life, from 1880 to 1892, inclusive, will 
appear from the appended figures, showing the annual income, pre- 
mium receipts, expenditures, disbursements to policy-holders, and 
assets : 



Digitized by 



Google 



KbW ToBK LiFB IkSURANCB Ck>HFANY. 



259 



Year. 


Total 


Preininni 


Total 


Paid Policy- 


Total 


Income. 


Receipts. 


Ezpendituree. 


Holdere. 


Assets. 


18B0 


$8,884,172 


$6,545,461 


$6,717,8n 


$4,499,981 


$43,081,142 


1881 


10,8ffl,d45 


7,884,878 


6,567,515 


6,091,820 


47.044,269 


1882 


11,494,144 


8,780,871 


7,996,188 


6,210,810 


50,650,982 


1888 


18,207,682 


10,580.940 


8,981,877 


6,699,890 


66,202,314 


1884 


13,882,752 


10.969,868 


9,726,680 


6,734,065 


58,941,789 


188S 


16,905,141 


12,480348 


10,821,520 


7,681,874 


66,516,406 


1886 


18,881,758 


15,160.469 


10,810,207 


7,627.280 


74,921,927 


1887 


21,590,846 


17,826,892 


18,825,525 


9,586,211 


82,606,864 


1888 


24,871,174 


20,660,610 


16,889,610 


10,973,070 


92,685,062 


1889 


28,880,128 


24,242,617 


17,875,960 


12,121,122 


104,415,822 


18B0 


81,488,702 


26,587,290 


19,961,868 


18,279,644 


114,096,966 


1891 


81,854,195 


26,256,275 


19,458,090 


12,671,491 


125,947,291 


1882 


81,072,492 


25,069,509 


21,790,192 


14,061,619 


137,499,199 



The total number of policies in force December 81, 1880, was 
48,584, covering insurance to the amount of $185,726,910. At the close 
of 1802 the number was 215,968, the amount of insurance in force 
being (689,248,629. 

The assets of the company in detail, on December 81, 1892, were as 
follows : 

Real BBtate,. $12,531,016.75 

Stocks and Bonds, 86,680,177.51 

Booda and Mortgafi;eB, 24,286,786.51 

Loans secared by coUaterals, 8,916,000.00 

Premium Loans, 1,096,850.00 

Cash in Office and In Banks and Tnxst Companies, 4,201,288.68 

Interest and Bents due and accraed, 971,810.14 

Net amoant of unooUected and deferred preminms, 2,865,275.87 

Total Assets, $187,499,196.99 

The liabilities on the same date were : reserve or value of outstand- 
ing policies $117,858,098, other liabilities (2,836,168.89, total liabiUties, 
$120,694,250.89. 

Tl^e surphia vas $16,804,948.10. 

'*nie income m detail in 1892 was as follows : premiums received 
$35,089,508.76, received from interest, rents, etc., $5,982,988.48, total 
hicome $81,072,492.24. 
The disbursements in detail in 1892 were as follows : 

Losses Paid, $7,983,095.87 

Endowments Paid, 1,114,801.99 

Annuities, Dividends, Surrender Values, etc., 4,984,121 .05 

Commissions, 4,058,316.60 

Acency Szi>ense6, PhTSiclans' Fees, Advertising and Printing, 
Taxes, Salaries, and other Expenses, 3,660,857.66 

Total DislinrsementB $21,790,192.17 

The number of policies issued during 1892 was 65,608. The new 
insurance written $178,157,620. 

Of the policy of the companv under its new administration, of the 
encouragement it will eive to all who faithfully labor for its best good, 
of its future for its policy-holders, President McCall spoke to a meet- 
ing of its agents held in New York, November 11, 1892 : 

"The last nine months form no unimportant part of_the almost 
half century that makes up the company's corporate lif e,^ 



260 New York State Asbociation of Fibb Undeiiwritkbb. 

bition possesses me, and that is that we shall continue to the end in 
furthering all that is commendable in management and in discarding 
the meth^s that bring contumely. Our house is.set upon a hill to-d^. 
Let us keep the approaches to it inviting and free from pftfalls. We 
have been given in official language a certificate of regenerated birth. 
and it behooves you and me and all of us that by no act of ouib shall 
the record be tarnished. We are all equally interested that the mag- 
nificent position we hold shall be maintained, and we should never be 
tempted, by an ill-ludged expediency, to depart from the course where 
honor leads. Each one here, in his own way, can do something for 
the common ^ood of all \n jealously guarding, by word and action, the 
company's fair name. Example is letter than all else. Thecompanv 
is now, and will be hereafter, known as the one which is not depend- 
ent on any one man for its prosperity and success. I intend, so long 
as I am entrusted with direction and power, to make room at the top 
for those whose zeal and probity are conspicuous. No plan or pro- 
gramme that argues well for the company's good will be lightly 
thought of because it did not have its origin with me, and merit and in- 
telligence will move on apace within our ranks. 

' ' We have grander prospects before us now than at any other time 
in our history. The unparalleled record of October, covering appli- 
cations for twenty-five million dollars of new insurance, has never been 
equaled, and exhibits such a complete restoration of public confidence 
as leaves nothing to be desired. It is a complete justification of the 
newer ideas contained in our present insurance contracts, and the liberal 
treatment of the insured that we offered a few months ago. The re- 
sponse of the public is none the less gratifying because it was expected. 
It is an encouragement to continue in the determination to keep this 
beyond dispute an ideal policy-holders' company." 

New York Metropolitan Board of Fire Insurance Brokers. 
This organization was incorporated December 7, 1886, and numbered 
116 members at the time of the last report. The officers are Robert 
0. Rath bone, president; H. Mosenthal, vice-president; J. Q. A. 
Williamson, secretary; John H. Rieger, treasurer. •• 

New York Mortgage Insurance Company was organized in 
New York in June, 1892, to guarantee the prompt payment of either 
interest or principal or both of bonds and mortgages on selected real 
estate. The cash capital was fixed at |1,000,000 with a paid-up sur- 
plus of $250,000. The following were the first directors appointed: 
Charles T. Barney, William L. Trenholm, Geo. Foster Poabody, 
Douglas Robinson, Jr., E. W. Goggeshall. David B. Ogden, Henry £. 
Howland, John T. Lockman, Herbert B. Turner, George Coppell, 
Anson W. Hard, H. H. Hollister, Gustav £. Kissel, and Clarence 
Gary. This company had not begun business when this volume was 
ready for the press. The Bond and Mortgage Guarantee Company, a 
Brooklyn corporation, organized March 29, 1892, began business June 
18, 1892, with William B. Isham as president and Frank Buley as 
secretary. The capital stock is $1,000,000 cash. 

New York State Association of Local Boards of Fire Under- 
writers was organized by representatives of local boards at Syracuse, 
N. Y., March 22, 1893, The constitution states the purpose of liie 



Kbw TOBX StATB SnFBByiBI170 AND ADJUBTHra AOBNTS. 261 

association to be the "promotion of hannony in underwriting; the 
protection of our interests and those of our companies in our eeveral 
territories, and the securing of united action in such direction as may 
be required to obtain these results." 

The officers chosen for the first year were: 

Prestdent, M. Q. Thomion of Utica; fint yice-presldent, Ja8. E. Reed of Warsaw: 
second Tioe-preeident, J. C. Goodrich of Newbnrgh; third vice-president, H. B. Boss or 
Bin£;bamtoii; secretary, William L. Ford of Cohoes; treasurer, John L. Gctman of 
Oloyersrille. Bxecntive committee, A. W. Harrington of Troy, D. L. Dodgson of 
BaUTla, If . W. Hntchins of Malone, Stanley G. South of Syracuse, Geo. L. Gray of 
Ithaca. 

The following recommendations, outlining the special work of the 
association, were adopted and ordered to be published: 

That this association request the companies of the state board to refrain from 
writinfi: business in our territory except through their accredited agent in such territory. 
We hold commissions from our companies for certain territories, and we accepted them 
with the understanding that that is to be our field for operations, but ilnd that business 
has been and is being written In New Yorlc covering risks in our several fields. We a«k 
the companies to observe our righta in this matter, and thinic tliat upon caref al consid- 
eration of them the companies will conclude with us that the practice is wrong and un- 
just to their representatives. 

That the companies and agents work for securing legislation for the appointment 
of fire marshals In the different villages and cities or the state, with power to inspect 
all buildings in their district and enforce such rules and regulations as will be necessary 
'" better protect property against fire. 

That agents use their best efforts to convince companies that in the planting of dual 
agencies in fields where they are already represented they are doing their old agent a 
great injustice ------- ^' ^.__.t^-.. ,, p.. . 

years of expci 
— It this 

ipla( 
the risk Is located. 

New York State Association of Supenrising and Adjusting 
Agents was organized at Syracuse, N. Y., Jul^ 23, 1872, under the 
name of the New York State Board of Supervising and Adjusting 
Fire Insurance Agents. The first ofllcers were : Thomas P. Stowell, 
president; Charles R. Knowles, first vice-president; James Hendricks, 
second vice-president; A. J. Wood worth, secretary and treasurer; 
Messrs. C. B. Whiting, John Marr, Samuel L. Tolcott, J. K. Dunham, 
J. G. Welsh, Clinton F. Pai^e, and D. C. Osmun, executive commit- 
tee. The first annual meeting of the association was held in New 
York city July 15, 1878. Clinton P. Paige was elected president and 
L. L. Barney, secretary and treasurer. December 5, lb78. pursuant 
to a call issued by General Agent Montgomery, the members of the 
New York, Pennsylvania, ana New Jersey state boards met in New 
York city to consider a project for the consolidation of these organ- 
izations under the title of "The Atlantic Board Auxiliary to the 
National Board of Fire Underwriters." A resolution in favor of this 
idea had been adopted at the meeting of the national board executive 
committee in Philadelphia during the prior month. The opposition 
to the scheme, however, proved of a decisive character in the state 
boards concerned, the New York representatives voting it down by an 
overwhelming majority. July 15, 1874, the annual meeting of the 
association was held at Syracuse. At this meeting a memorandum 
was adopted 16 to 1, that it was expedient to reorganize the board 
upon a new basis, but not as an auxiliary to the national board. A 
new constitution and by-laws and the present title were adopted, and > 



to better protect property against fire. 

That agents use their best efforts U 
agencies in fields where they are already represented tney are dotns^ their old agent a 
great injustice^ as it gives the dual agent a standing that he could not obtain except by 
years of experience. 

That this association urge upon all agents in the state that in placing their surplus 
business it be placed with brother agents who belong to the board in the field in which 



26d Nichols, Jaxbs. 

the offlcen elected were: A. Newton Locke, prerident; J. H. Tan 
Buren, yicej)re8ident; Alfred Rowell, secretary; C. B. WhitiDe, 
Charles R. Knowles, A. J. Woodworth. Clinton F. Paige, and E. T. 
Atwood, executlTe committee. The organization is continued as a 
social body and a promoter of the best interests of fire insurance, but 
the supenrision and making of rates is relegated to the Underwriters 
Association of the State of New York. The oflBcers of the New York 
State Association of Superrising and Adjusting Agents, elected at the 
annual meeting in 1802, were: Clinton F. Paige, president; John L. 
Eendig, yice-president; A. T. Howes, of UUca, secretary and treas- 
urer. The officers elected at the annual meeting in 1896, were C. H. 
Van Antwerp, president; L. L. Barney, vice-president; A. P. Howes, 
secretary. 

New York State Insurance, Sapenrision in, 1850-1888. Prior 
to 1859 the comptroller of New York state was charged with the duties 
of insurance supervision. The first reports were made in 1881, being 
from local companies. In 1848 there were twenty-two insurance com- 
panies in the state exempt by charter from making returns to the comp- 
troller. It was not until 1849 that companies from other states and 
foreign countries were required to make annual or other statements, 
except of premiums received, which were subject to state taxation. 
In 1864, all insurance companies were required, under law, for the first 
time, to make and file annual statements of their condition and affairs. 
The present insurance department was established under act of April 15, 
1859, which became operative January 1, 1860. The superintendents 
of insurance have been: 



WilliUD Baraet, 
QeoTge W. MlUer, 
George B. Church, 
Orlow W. CbApman, 
William Symth. 



John F. Bnnrth, 
dutrles G. Faimum, 
John A. McCall. 
Robert A. Maxwell, 
Jamee F. Pierce, 



Jan. 1% 1860-Feb. 5, 18T0. 



Feb. 6, ISTO-May IS, ISTt 
May 14, 1879-Not. 98, 19n. 
Not. 29, ISTd-^an. 81, 1976. 
Feb. 1, lOTfr-Fcb. »4, 18TT. 
V9b. 85, 18Tr-Apr. ST, 1880. 
Apr. 98, 188a-Apr. 99, 1888. 
Apr. 9.% 1888~Dec 81, 1886. 
Jan. 1, 1886-Feb. 18, 1801. 
Feb. 19, 1891— 

Superintendent Pierce is the present incumbent. The official term 
is three years. Michael Shannon is the first deputjr superintendent, 
and Matthew H. Robertson the second deputy superintendent. John 
S. Patterson is actuary of the department. 

Mew York State, Underwriters' Association of. [See Under- 
writers Association of the State of New York.] 

New York Tariff Association. [See Tariff Association of New 
York.] 

Niagara Fire insurance company of New York was selected in 
April, 1892, by the Caledonian of Edinburgh, to manage its United 
States business, except on the Pacific coast. 

. Jchols. James, president of the National Fire insurance company 
of Hartford, is a native of Fairfield County, Conn. He studied law, 
and was admitted to the bar in 1854, and, removing to Hartford to 
practice, was appointed clerk of the County Court. In 1861 he was 
elected judge of probate for the Hartford district, filling two terms, — 
last expiring in 1864. While continuing the practice of the law he 



NOH-FORFBITTTBR LiFB IhBVBANCB LaWB. S68 

was, in 1867, offered and accepted the position of general aeent of the 
Merchants insurance company of Hartford, which was subsequently 
burned up in the Chicago fire. ^ With Mark Howard, in 1871, Judge 
Nichols founded the National, and was elected its secretary. He suc- 
ceeded Mr. Howard as president in 1887. 

NoB-Forfeltnre Life Insnrance Laws. No additions were made 
to non-forfeiture laws by the state legislatures in 1892 and 1893. Bills 
in varying forms to establish such laws were before the legislatures of 
Nebraska, New Jersey, New York, and Ohio, but were not successful. 
In the 1892 Ohio legislature the old Cowgill bill, which first saw light 
in the legislature of 1888, was re-introduced by Senator Shaw. It 
was not acted upon, and went over, under the rule, to the second ses- 
sion of the legislature in 1893, where it failed again. In the New 
York legislature of 1892 a bill introduced by Assemblyman Guenther 
proposed a number of amendments to the existing law, but it was 
killed by the assembly insurance committee. It was re-introduccd in 
the 1893 legislature by the same assemblyman, only to meet the same 
fate. 

HiBTOBT OF NoK-FoRFBiTUBB Lkgiblation. The first law of this 
kind was brought before the le^slature of Massachusetts in 1859 by 
Elizur Wright, then one of the insurance commissioners of that state, 
and in 1861 the law was passed. It provided that policies of life in- 
surance should not be foif eited for non payment of premium, but that 
eighty per cent, of the reserve at the time of the failure to pay any 
premium should be used as a single net premium for term insurance. 
In 1880 this law was changed by the legislature so as to compel sur- 
render values to be paid in cash where insurable interest had ceased, 
and in otiier cases used to purchase paid-up insuAmce, to be paid at 
the same time as the original policv. This law only applied after two 
full annual premiums bad been paid. In the revis(on of 1887 the law 
was again changed. The first law applied to all policies issued be- 
tween the ninth day of May, 186t, and the first day of January, 1881. 
The second applied to all policies issued between January 1, 18B1. and 
April 21, 1887. The law since that date, applicable to all policies 
issued by Massachusetts companies, is : 

Sac. 76. All policies hitherto iBsned bv any domestic life insanmce oompanj shall 
be subject to the provisions of law appIfcaDle and in force at the date of snch issne. 
No poli<nr of life or endowment assoranoe hereafter issued by any snch company shall 
e forfeit or Toid for non-payment of premium after two f nil i 



valoe of the policy and all dividend additions thereon, computed by the rule of section 
eleven, less any indebtedness to the company on account of said policy, and leas the 
surrender charge provided herein, will purchase as a net single premium for life or en- 
dowment insnrance maturing or terminating at the time ana in the manner provided in 
the original policy contract; and such default shall not change or affect the conditions 
or terms of tne policy, except as regards the payment of premiums and the amount 
payable thereon. Said surrender charge shall be eight per cent of the insurance value 
of the policy at the date of default, which insnrance value is the present value of all 
the normal future yearly costs of insurance which by its terms said policy is exposed to 
pay in case of its continuance, computed upon the rate of mortality and interest as- 
enmed In section eleven. Every such policy, after the pavment of two full annual 
premiums thereon, shall have a surrender value which shall be its net value, lees the 
sarrender charge, and less any indebtedness to the company on account of the said 
policy, and Its holder may, upon any subsequent anniversary of Its Issue, surrender the 
eame and claim and recover from the company snch surrender value^^ ,^^^ S^ff$^4^ . 



864 KON'FOBFKITUBB LiFB iHSUBiiRCB LaWB. 



that from the sarrender valoe of all endowment policies tbe oompAiij may deduct fire 
per cent. On policies of pnidentUd or Industrial insnranoe on which the weekly 
premloms are not more than fifty cents each the sarrender value in all cases shall be 
payable in cash. Upon sarrender, on an/ anniversary of its issue, of a policy wfakb 
has become paid up after the payment of two full annual premiums, by force of the 
statute upon default in payment of premium, the holder shall be entitled to its net Tslue, 
payable m cash; provided, that from such net value of all endowmoit policies tlie com- 
pauy may deduct five per cent. But no surrender of a policy shall be made without the 
written assent of the person to whom the policy is made payable. Any conditkm or 
stipulation in the policy or elsewhere, contrary to the provisions of this section^ and any 
waiver of such provisions by the assured shall be void. 

Oaliforkia enacted in 1872 a non-forfeiture law, gvnng fonr-fiftliB 
of the net value to purchase temporary insurance, but usine the 
American table instead of the actuaries . The law applied only to 
Calif om la companies. In 1880 it was amended so as to include com- 
panies of other states, and reads: 

8ko. 4fi0. Bvery contract or policy of insurance hereafter made by anv penoo or 
corporation organised under the laws of this state, or under those of any other state or 
country, with and upon the life of a resident of this state, and delivered within this 
state, shall contain, unless specifically contracted between the insurer and the insared 
for tontine insurance or for other term or paid-up insnnmce, a stlpalation that when, 
after three full annual premiums shall have been paid on such policy, it shall < 



become void solely by the non-payment of any premium when due. its entire net re- 
serve, bv the American experience mortality, and interest at four ana one-half per cent. 
yearly, less any indebtedness to the company on such policv, shall be applied ov such 
comiMuiy as a single premium, at such company's published rates in force at the date of 
original policy, bat at the age of the insured at time of lapse, either to the purchase of 
non-partfcipatlng term insarance for the full amount insured by such policy, cr upon 
the written application by the owner of such policy, and the sarrender thereof to each 
companjr within three months from such non-payment of premium, to the purcliase of a 
non-participating paid-op policy, payable at the time the original policy would be 
payable if continued in forces both kinds of insurance to be snl^ect to the same con- 
ditions, except as to payment of premiams, as those of the origfnal policy. It may be 
provided, however. In such stipulation, that no part of such term insarance shall be dae 
or payable, unless satisfactory proofs of death be furnished to the insuring oompanv 
witnin one year after death, ana that, if death shall occur within three years after enca 
non-payment of premium, and daring such term of insurance, there shall be deducted 
from the amount payable the sum or all the premiums that would have become due on 
the original policy if it had continued in force. If the reserve on endowment polidea 
be more than enough to purchase temporary insurance, as aforesaid, to the end of the 
endowment term, the excess shall be applied to the purchase of pure endowment insar- 
ance, payable at the end of the term, if the insured be then living. If any life insoranct 
corporatlou or company shall deliver to any person in this state a policy of insarance 
upon the life of any person residing in this state, not in conformity with the provisiw 
of this section, the right of such corporation or company to transact business in thb 
state shall thereupon and thereby cease and determine, and the insurance oommissioDn- 
shall immediately revoke the certificate of such corporation or company auUiorizln|E it 
to do business in this state, and publish such revocation, daily, for the period of two 
weeks, in two dally newspapers, one published in the city of Ban Frandsco, and Uk 
other in the city of Sacramento. [Amendment approved April 36, 1880; took effect 6Ptb 
day after passage; repealed conflicting acts.] 

Maine. The Maine non-forfeiture law was passed in 1877. and 
went into efiFect March 31st of that year. It was amended in 1887, and 
now reads: 

Ssc. 91. Every life insurance policy issued after March thirty-one, eighteen hna- 
dred and 8e\'enty-8even, by any company chartered by this state, which may he for- 
feited for non-payment of premiams. including all notes given for premiums or losn^ 
or interest thereon, after it has been in force three full years, and which does not pro- 
vide for a surrender value, at least equivalent to the value arising under the terms of 
this and the following section, is nevertheless continued in force to an extent and fori 
period to be determined as follows, to wit: The net value of the policy, when the 
premium becomes due and is not paid, shall be ascertained according to the corobmed 



pollC7i 
nowev 



NON-FOBFKITXJBB LiFB LsTSTmANGE LaWB, 265 

.\ asoertained according to the rates of mortalltv and interest aforesaid, in no event, 

ever, to exceed one-fourth of aaid net value, and In ascertaining said net value, when 

the preminm is payable semi-annually or quarterly, there shall be deducted from the net 
valne of the policy, aasuming net annual premiums, and net premiums for the unpaid 
Bemi-annual or quarterly installments for that year which shall not be considered an 
indebtedness, but as forborne premiums; what remains, after deducting any indebted- 
neee to the company on account of the policv, or notes held by the company against the 
insured, which notes shall be canceled, shall be considered as a net single premium of 
temporary insurance, and the term for which it will insure shall be determmcd accord- 
ing to the age of the party at the time of the lapse of the policy, and the assumptions of 
mortality and interest aforesaid; but if the policy is an endowment, payable at a time 
certain, or at death if it should previously occur, then, if what remains as aforesaid ex- 
ceeds the single net premium of temporary insurance for the balance of the endowment 
term for the full amount of the policy, such excess shall be considered a net single 
premium for simple endowment, pAyable only at the same time as the original endow- 
ment, and in case the insured survives to that time; and the amount thus payable by 
the company shall be determined according to the age of the party at the time of the 
lApse of the policy, and the assumption of mortality and interest aforesaid. 

Sic. 99. If the death of the insured occurs within the term of temporary insur- 
ance covered bv the value of the policy as determined in the preceding section, and if 
no condition or the insurance other than the payment of the premium has been violated 
by the insured, the company shall pay the amount of the policy, as if there had been no 
lapse of the premium, anything in the policy to the contrary notwithstanding; pro- 
vided^ htnceter^ that notice of tiie claim and proof of the death shall be submitted to 
the company in the manner provided by the terms of the policy, within one year after 
the deatn; va^wcvided^ also^ that the company may deduct from the amount insured 
in the policy the amount compounded at seven per cent, a year of the ordinary life 
premiums at age of issue, that had been forborne at the time of the death, including the 
whole yearns premium in which the death occurs, not exceeding five in number. But 
any such company may issue to a resident of anv other state or country a policy con- 
forming to the laws of such state or country, and not subject to this and the preceding 
section. 

Michigan passed a non-forfeiture law in 1869 (laws of 1869, act 
No. TT), which gave three-fourths of the net value bj the American 
table, interest four and a half per cent., as a net premium for paid-up 
whole life insurance, if applied for within one year of default. This 
law applied to Michigan companies only, and was amended in 1881 to 
read: 

8x0. 17. No policy of insurance on life issued after this act shall take effect by any 
company organized under the laws of this state, shall be forfeited or become void by 
the non-payment of any premium thereon after the third any further than as followb: 
The net value of the nolicy when the premium becomes due and is not paid shall be ascer- 
tained according to Che American experience table rate of mortality with interest at four 
per centum per annum. A surrender charge shall first bo deducted from such net value 
on the following basis, to wit: From policies that have paid three full years' premiums, 
forty percent.: from policies that have paid four full years' premiums, thirty-six per 
cent.; from policies that have paid five full years' prenuums, thirty-two per cent.; and 
so on in like manner, decreasing the discount four per centum for each full year's 
premium paid, until the discount is exhausted, when no surrender charge shall be made. 
After deducting the surrender charge from the net value, the remainder shall be con- 
sidered a net smele premium for whole life non-participating insurance, and the amount 
it will insure sluul be determined according to the age of the party at the time when 
the unpaid premium became due and the assumptions aforesaid in regard to rate of 
interest ana table of mortality. Incase of any {ndebtednesB on any policy, such in- 
debtedness shall be first deducted from the net value remaining after deducting the dis- 
count, and the remainder, if any, shall be used as the net Hingle premium as aforesaid. 

Missouri. The Missouri non- forfeiture law was passed in 1879 
and was made to apply to all policies issued in Missouri on and after 
the first day of August, 1879. It has since been amended and is now 
sections 6856 to 5859, inclusive. By some blunder, probably, in the 
amendment of section 5857, the standard for computing paid-up values 
was changed from the American experience four and a half per cent. 
to the combined experience at four per cent., so that the extended in- 



2M NON-FOBFBITCBS LiFB InSURANOB LaWB. 

Buraace is calculated by one ttandard of mortality and interest, and 
the paid-up values by another. The text of the law is : 

Sec. 9866. No policy of Insimnce on life hereafter iaened by any life insnrmnee 
company aathorizea to do boeineee in thia atate, on and after the first day of AngaaL, 
A.X>. 1879« shall, after payment opon it of two fall annoal premlnma, be forfeited or 
become void by reason of the non-payment of premium thereon, bnt it shall be sabjeci 
to the following rules of commutation, to wit: The net yalue of the policy, when the 
premium becomes due and is not paid, shall be computed upon the American experienoe 
table of mortality, with four and one-half ner cent interest per annum, and after de- 
ducting from three-fourths of such net value any notes or other indebtednesB to the 
company, given on account of past premium payments on said policy issued to the in- 
sured, which indebtedness shall then be canceled, the balance shall be taken as a neteiiif^ 
premium for temporary insurance for the full amount written in the policy, and the term 
for which such temporary insurance shall be in force diall be determined by theai^ of the 
person whose life is insured at the time of default of premium and the ascumption of 
mortality and interest aforesaid; but if the policy shall be an endowmoit payable aCa 
certain time, or at death, if it should occur previously, then, if what remains as afore- 
said shall exceed the net single premium of temporary insurance for the remainder of 
the endowment term for the full amount of the policy, such excess shall be conaidesred 
as a net single premium for a pure endowment of so much as such premium will par- 
chase, determined by the age of the insured at date of defaulting the payment of 
premium on the original policy, and the table of mortality and interaet as afo * ' 
which amount shall be pajd at end of the original term of endowment, If the ' 
shall then be alive. 

Sbc. 6667. At any time after the payment of two or more full annual premianm, 
and not later than sixty days from the banning of the extended insurance provided in 
the preceding section, the legal holder of the policy may demand of the company, and 



the company shall issue, its paid-up policy, which, in case of an ordinary lire policy, 
shall be for such an amount as the net value of the original policy at the age and daie 
of lapse, computed according to the actuaries* or combined experience table of mor- 
tality, with interest at the rate of four per cent, per annum, without deductioi 
debtedness on account of said policy, will purchase, applied as a single premiui 
the table rates of the company; ana In case of a limited payment life policy, 
continued payment endowment policy, payable at a certain time, or at death, it i 



of lapse, computed according to the actuaries* or combino ^ 

tality, with interest at the rate of four per cent, per annum, without deduction of in- 
debtedness on account of said policy, will purchase, applied as a single premium npon 
the table rates of the company; ana in case of a limited payment life policy, or of a 
continued payment endowment policy, payable at a certain time, or at death, it shall be 
for an amount bearing such proportion to the amount of the original policy as the num- 
ber of complete annual premiums actually paid shall bear to the number ox such annnal 
premiums stipulated to be paid; provided^ that from such amount the company shall 



have the right to deduct the net reversionary value of all indebtedness to the company 
on account of such policy; and provided further^ that the policy-holder shall, at the 
time of making demand for such paid-up policy, surrender the original policy, legally 



discharged, at the parent office of the company. 

Sac. 6868. If the death of the insured occur within the term of temporary insur- 
ance covered by the value of the policy as determined In section 6866, and if no condi- 
tion of the insurance other than the payment of premiums shall hwe been violated hy 
the insured, the company shall be bound to pay the amount of the policy, the same as If 
there had been no default in the payment of premium, anything in the policy to the 
contrary notwithstanding; provided however ^ that notice of the chdm and proof of the 
death snail be submitted to the company in the same manner as provided by the terma 
of the policy within ninety days after the decease of the insured; and provided aiso^ 
that the company shall have the right to deduct from the amount insurea In the policy 
the amount compounded at six per cent, interest per annum of all the premiuma thai 
had been forborne at the time of the decease, including the whole of the year's pre- 
mium in which the death occurs, but such premiums shall in no case exceed tbe ordi- 
nary life premium for the age at issue, with interest as last aforesaid. (B. S. 1879, 

Sbc. 6860. The three preceding sections shall not be applicable in the following 
cases, to wit: If the policy shall contain a provision for an unconditional cash sur- 
render value at least equal to the single net premium for the temporary insurance pix^o- 
vided hereinbefore, or for the unconditional commutation of the policy to non-forfeit- 
able paid-up insurance for which tbe net value shall be equal to that provided tar in 
section 5856, or if the legal holder of the policy shall, within sixty days after default of 

{)remium, surrender the policy and accept from the company another form of policy, or 
f the policy shall be surrendered to the company for a consideration adequate in the 
judgment of the legal holder thereof, then, and in any of the foregoing cases, this 
act shall not be applicable. (K S. 1879, § 5986.) 

New York. The New York non-forfeiture law was passed in 
1879, bein^ chapter 847 of the laws of that year, and was not changed 



NoN-FoBFBiTuiuB LiFB Ikbu&akce Laws. 267 

before the new code was adopted, except that in 1885, by chapter 838f 
policies issued upon weekly or monthly payments of premium were 
exempted from the operation of the law. It read: 

Sxc. 1. Whenever an7 policy of life insuranoe hereafter Issued by any company 
organized or Incorporated under the laws of this state, after being in force three fall 
years, »hall by its terms lapse or become forfeited for the non-payment of any premlam< 
or of any note given for a premium, or loan made in cash on the policy as security, or 
of any interest on such note or loan, unless the provisions of this act are specifically 
waived in the application, and notice of such waiver written or printed in red ink on the 
mar|;in of the face of the policy when issued, the reserve on such policy, including divi- 
dend additions, calculated at the date of the failure to make any of the payments above 
deecribed, aocordinff to the American experience table of mortality, and with interest at 
the rate of four and a half per cent, per annum, after deducting anv indebtedness of 
the insured on account of any annual, semi-annuid, or oaarterly premium then due, and 
any loan made in cash on such policy, evidence of which is acknowledged by the in- 
sured in writing, shall, on demand made, with surrender of the policy within six 
months after such lapse, be taken as a single premiam of life insurance at the published 
rates of the company at the time the policy was issued, and shall be applied, as shall 
have been agreed in the application and policy, either to continue the insurance of the 
policy in force at its full amount, so long as such single premium will purchase tem- 
porary insurance for that amount, at the age of the insured at the time of lapse, or 
to purchase upon the same life at the same age paid-up insurance jMtyable at the same 
time, and under the same conditions, except as to payment of premiums, as the original 
Ipolicy 'proviiled^ That if no such agreement be expressed in the application and policy, 
the said single premium may be applied in either of the modes above si>ccified, at the 
option of the owner of the policy; notice of such option to be contained in the demand 
hereinbefore required to be made to prevent the forfeiture of the policy ; proDi€Ud, aUOy 
that the net value of the insurance given for such single premium under this section, 
computed by the standard of this state, shall in no case be less than two-thirds of the 
entire reserve after deducting the indebtedness as specified; but such insurance shall 
not participate In the profits of the company. 

8bc. S. If the reserve upon any endowment policy, applied according to the preced- 
ing section as a sinsle premium of temporary insurance, be more than sufficient to con- 
tinue the Insurance to the end of the endowment term named in the policy, and if the 
insured survive that term, the excess shall be paid in cash at the end of such term, on 
the conditions on which the original policy was issued. 

Skc. 8. This act shall take effect on the first day of January, eiji^teen hundred 
and eighty. 

In the New York insurance code which was adopted in 1892 the 
phraseology of the law was somewhat changed, while its substance 
was preserved. The following is the full text of the section in the 
code: 

Sbo. 8S. Whenever any policy of life insurance issued after January first, eighteen 
hundred and eighty, by any domestic life insurance corporation after being in force 
three full years, shall, by its terms, lapse or become forfeited for the non-payment of 
any premium or any note given for a premium or loan made in cash on such policy as 
security, or of anv interest on such note or loan, the reserve on such policy computed 
acoordmg to the American experience table of mortality at the rate of four and one- 
half per cent per annum shall, on demand made, with surrender of the policy within 
six months after such lapse or forfeiture, be taken as a single premium of life insur- 
ance at the published rates of the corporation at the time the policy was issued, and 
shall be applied, as shall have been agreed In the application or policy, either to con- 
tinue the insurance of ther "' ' " " '" ' " " " * '^ "' — ' 

mium will I 

the time ol „.^_ __ , ,_ _. , „ 

paid-up insurance payable at the same time and under the same conditions, except as to 
payments of premiums, as the original policy. If no such agreement be expressed in 
the application or policy, such single premium may be applied in cither of the modes 
above specified, at the option of the owner of the policy, notice of such option to be 
contained in the demand hereinbefore required to be made to prevent the forfeiture of 
the policy. 

The reserve hereinbefore specified shall include dividend additions calculated at 
the date of the failure to make any of the payments above described according to the 
American experience table of mortality with interest at the rate of four and one-half 
per cent per annum, after deducting any indebtedness of the Instired on socomit of any 



appiiea, as snaii nave oeen agreea m cue appiicauon or policy, euner lo con- 

» insurance of the policy in force at its full amount so long as such single pre- 

111 purchase temporary insurance for that amoimt, at the age of the insured at 

of lapse or forfeiture, or to purchase upon the same life at the same age 



268 KOBTBXASTBRN LiFB InSUBAKOB OoMPAHT. 

aonoAl or aemi-annaAl, or qimrterly premlam then doe, and any loan made in caah on 
aachpolicy, evidence of which is acknowledged by the insnred In writing. 

The net value of the insmrance given for such single premiom onder this eectkm, 
computed by the atandard of this state, shall in no case be leas than two-thlrda of the 
entire reserve computed according to the rule prescribed in thla section, after deducting 
the indebtedness as specified; but such insurance shall not participate in the proAtB or 
the corporation. 

If the reserve upon any ejidowment policy applied according to the proviaioifea of 
this section as a single premium of temporary insurance be more than solAcient to con- 
tinue the insurance to the end of the endowment term named In tlie policy, and if the 
insured survive that term, the excess shall be paid in cash at the end of such term, on 
the conditions on which the original policy was issued. 

This section shall not apply to any case where the provisions of the sectioD are 
spcciflcally waivi<d in the appllcaUon and notice of snch waiver is written or printed in 
red ink on the margin of the face of the policy wlien iasned. 

Tliese are all the laws regulating the forfeiture of life injBuimnce 
policies now in force, and the practice of companies has rendered their 
enactment unnecessary in the future, if it erer was necessary in the 
past. 

North British and Mercantile insurance company, purchased in 
July, 1802, the property at the southwest comer of Williiun street and 
Exchange Place, New York, as a site for its United States head- 
quarters building. It was expected to begin the erection of the 
edifice in May, 1894. 

North Carolina, Insurance SaperriBion In, 1874-1898. The 
secretary of state is made the supervisior of insurance interests in 
North Carolina, under general statutes of 1874r-5. He is elected by 
the people for a term of four years. The secretaries have been: 

W. H. Howerton, Jan. 1874-Jan. 1877. 1 William L. Sanndera, Jan. 1879— April 1801. 
J. A. Engelhard, Jan. 1877— Jan. 187V. | Octavins Coke, April 1801— 

Mr. Coke succeeded Mr. Saunders upon his death in 1891, by 
appointment of the governor, and was elected by the people for four 
years from January, 1898. W. P. Batchelor is the clerk haying 
special charge of insurance matters. 

North Dakota, Insurance Sapervision in, 1888-1898. The 
office of commissioner of insurance in North Dakota was created by 
the constitutional convention, the provision therefor bein^ made 
effective by act approved December 4, 1890. The commissioner is 
elected by the people for a term of two years. In case of a vacancy 
by reason of death or otherwise the governor is required to appoint 
" by and with the approval of the senate, if in session." 

Prior to April 6, 1883, all insurance business was done through the 
office of the territortal secretary. The supervising officers since thai 
date have been : 

George L. Ordway, Auditor, .... April ft, 1883— March 11, laSB. 
E. W. Cadwell. Auditor, " ' ^ "■ 



March U, 1686-I^b. 18,1887. 
Feb. 18, 1887— April 1, 188B. 
April 1, 1880-Nov. 4, 1889. 
Nov. 4, 1889-Feb. ft, laoft. 



James A. Ward, Auditor, 
J. C. McManima, Auditor, 

A. L. Carev, CommifHloner of Insurance, . , . 

JauioH Cudhic, CotunuHHioner of Insurance, . Feb. 6, 1898— 

Miss Lorene Allen is chief clerk. 

Northeastern Life insurance company of Manchester, K. H., w«8 
organized in 1892 at Berlin Falls as a mutual, but afterwards reorgan> 
ized as a stock level premium company, with $100,000 capital and 
$25,000 surplus, with headquarters at Manchester. Leonard P. Foster 



waa elected president, and Frank J. Wills, twentj-flye years with the 
New England Mutoal Life, as secretary and actuary. 

Northwestern Hatnal Life insurance company agents held 
their annual meeting at Milwaukee, July 19-21, 1892. About 200 
agents were in attendance from all parts of the country. J. B. 
Carey, of Richmond, Va., was re-elected president for the twelfth 
time, and the other ofQcers elected were L. W. Moody, New Haven, 
vice-president; Qeo. E. Copeland, Davenport, la., secretary and 
treasnrer. Standing committee: John I. D. Bristol, New York city; 
D. E. Murphy, Muwaukee; Oliver Williams, Denver; Col. H. A. 
Hunger, Cedar Rapids; and E. W. Poindexter, Topeka. Papers on 
the following topics were read : " Utility of Life Underwriters' Asso- 
ciations," by Henry C. Ayers, Pittsburgh; *' The High Province of a 
Life Insurance Agent," by Thad. E. Murphy, Macon, Ga.; "The 
Strong and the Weak Points of the Equitable.'^ by David Humphrevs, 
Norfolk, Va.; "The Successful Agent," by L. C. Campbell, Sioux 
Falls, S. D.; "How to Use State Reports," by J. C. Garland, 
Dubuque, la.; "A Strict Observance of Truth," by W. P. Gannett, 
Providence, R. L; "System," by J. D. Mills. Grand Porks, N. D.; 
" Elements of Success," by L C. Pershing. Wilkes Barre, Pa.; "My 
Experience with Railroad Men," by Oce B. Jackmann, Boone, la.; 
*' Solicitors and Soliciting," by C. A. Stringer, Hancock, Mich. ; "The 
Persistence it Took to Secure an Application," by John Connors, 
Denver; "Why and How I Have Changed the Opinion of Some 
People," by J. C. Vigneaux, Cedar Rapids, la. Before the session 
closed Secretary Geo. E. Copeland was presented with a fine gold 
watch by the members of the association. 

Northwest, Fire Underwriters Association of. [See Fire 
Underwriters Association of the Northwest.] 

Norwalk Fire insurance company of Norwalk, Conn. A con- 
trolling interest in the capital stock of this company was purchased 
by the liondon and Lancashire of Liverpool in February, 1892. 

Norwood^ Carlisle, Sen., ex-president of the Lorillard insurance 
company of New York. [See Death Roll.] 

Notman, Peter, ex-president of the Niagara Fire insurance company 
of New York, was born in Edinburgh, Scotland, in 1820, but came 
to Uds country when thirteen years old and found employment in a 
country store. In 1840 he obtamed a clerkship in the office of the 
Franklin Fire of Philadelphia. He was sent to New York by the 
company in 1850 to act as its local agent. In 1858 he was appointed 
assistant secretary of the Niagara Fire, and in 1861, sccretaiy. On 
the death of President Howe in 1880 he was advanced to the presi- 
dency, which office he held until 1893, when he resigned on account 
of aavancing vears, but continues his connection with the company as 
chairman of the board of directors. Mr. Notman has for many years 
been one of the foremost underwriters of the metropolis. He was 
president of the New York Board of Fire Underwriters in 1882 and 
1888, and has also been president of the Tariff Association. He has 
been a frequent writer on insurance topics. 



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iiO Official Changec^ in tKBxniABCB Companies in 1802. 

O 

Obitnarles for 1892. [See Death Roll.] 

Official Changres in Insarance Companies In 1892: The official 
changes in fire and life insurance companies in 1892 were as follows: 

FIRE INSURANCE COMPANIBa 

jfitna of Hartford, William B. Clark elected preeldent, sacceeding Jotliam Qoodnow, 

Andrew C. Bayne elected vice-president, Jamee F. Dndlej, eeeretary, William fl. 

King, first amiatant tecretarr. and B. O. Weeks, second assistant secretarj. 
American Fire of Baltimore, WlUiam Beeder appointed secretary, sacoeeding Daniel C. 

Chapman, deceased. 
American Fire of New York, William H. Crollns elected Tice-president and secretarj. 
American Fire of PhUadeipbia, William F. WilUams appointed assistant secreCarf and 

William I. Dawson, secretary of the asency department. 
Capital Fire of Concord, N. H., Liman Jackson elected president, sacceedins F. W. 

Rollins, resigned. 
Chicago Insuranoe Company (new), Charles Counselman elected president, J. J. Bear> 

don elected secretary. 
Citizens* of Cincinnati (rammed business), Robert Baynes elected president, H. S. Mcrr- 

win, secretary, and Robert Bams, general manager. 
Commercial Union of London, William T. Kaaf man, assistant United States manager, 

resigned. 
Commonwealth of New York, Charles S. Barton elected second vice-president and sec- 
retary, William H. Tate appointed assistant secretary. 
Corcoran Fire of Washington, D. C, Charles A. James elected presid^t, succeeding 

John T. Lenman. 
Fire Insorance Companv of the County of Philadelphia, Charles R. Peck elected vic»- 

president, and Frank W. Crittenden, secretary. 
Firemen's of New Orleans, Otto Thoman elected president, succeeding I. N. Marks. 
Franklin Fire of Philadelphia, George F. Reger elected second vice-president, Robert 

H. Wass appointed manager of agencies. 
Germania Fire of New York, George B. Edwards elected second vice-president. 
Qermania of New Orleans, J. Hssslnger elected president, succeeding Herman Zaber- 

bier, deceased. 
Glens Foils, J. L. Cunningham elected president, socceeding Rnssell M. Little, deceased. 

R. A. Little appointed secretarv. 
Grand Rapids Fire, T. Stewart White elected president, sacoeeding S. F. Aspinwall, 

deceased. J. B. Champlin elected vice-president. 
Humboldt of Allegheny City, Pa., John Soling elected president, saoceeding John A. 

Vcmer. 
Knoxville ¥1re of Tennessee, Lewis C. Fletcher appointed secretary, succeeding Oav 

Francis, deceased. 
Liverpool and London and Globe, William S. Warren appointed resident secretary at 

Ctiicago. 
London Assurance Corporation, Charles Lyman Case appointed United States manager, 

succeeding George H. Marks, who returned to the head office at London. 
Merchants Mutual of New Orleans, Paol CapdevUle elected president, succeeding PanI 

Fourchv, resigned. 
Michigan ¥ire and Marine, Frank H. Whitn^ appointed secretary, succeeding Eugene 

Harbeck, resigned. 
National Fire of Cincinnati, George W. Pohlman elected president 
New Orleans Insurance Association, George Lananx elected president, succeeding Pierre 

Lanaux, deceased. Charles D. Deleiy appointed secretary. 
New York Fire, Augustus Colson elected president, Charles A. Hull, vice-president and 

secretary. 
Reliance Fire of Philadelphia, William Chubb elected vice-president, and Charles J. 

Wister, Jr., secretary. 
State Investment of San Francisco, Charles H. Cashing elected vice-president, Charles 

M. Blair appointed secretary. 
Sun Mutual of New Orleans, Leonard M. Finley elected president, saoceeding James I. 

Day, resigned. 
Westchester Fire, John Q. Underbill elected vice-president, retabiing the aecretsiyship. 



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Omo ^ARMBBB IkSURAKCB CoMPANt. Hi 

UFB AND CASUALTY IN8URANCB COMPAHIBS. 

American CasoAltj Insnmnce and Security Company of Baltimore, John M. Crane 
appointed general saperintendent. 



Chicago Hatoal life inaarance company (new), R. J. Bennett elected president, and 
WilUam M. Hoyt, eecretarr, F. N. Pitman appointed manager. 

Equitable Life of New York, Thomas D. Jordan appointed comptroller, Bncceedlne John 
A. HcCall, resigned. Sidney D. Ripley appointed treasnrer, Michael Murray, 
cashier, and Francis W. Jackson, auditor. 

Fidelity and Casualty Company of New York, George F. Seward elected president, suc- 
ceeding William M. Richards, deceased. 

Home Life of New York, George H. Ripley elected president, sncceedingCharles A. 
Townsend, resigned. George E. Ide elected vice-president, and Ellis W. Gladwin, 
aecretanr. 

Imperial Life of Detroit. H. P. Cristy elected president, succeeding S. F. Angus, resigned. 
C. A. Gower elected vice-president, Thomas Berry, secretary, and J. J. Oliver, gen- 
eral manaeer. 

Metropolitan Life, George H. Gaston elected vice-president and secretary. 

Michi^m Mutual Life, J. W. Dusenbnry appointed financial manager. 

Mntuiu Life of Kentucky, George W. Morris elected vice-president, succeeding Judge 
tioodloe, deceased. 

New York Life, John A. McCall elected president, succeeding William H. Beers, 
resigned. Hugh A. Thompson elected comptroller, George w. Perldns, third vice- 
prendent, C. C. Whitney, secretary, Darwin P. Klngsley. superintendent of 
agencies, Charles N. Jones, associate actuary, Edward N. Gibbs, treasurer, J. A. 
ravuson appointed general manager for Great Britain, succeeding Thomas Craw- 
ford resigned. 

Northwestern Mutual Life, J. C. Crawford appointed assistant actuary, succeeding 
Charles N. Jones. 

Union Mutual Life, Samuel S. Boyden appointed actuary. 

United States Industrial of Newark, F. B. Mandeville elected president 

Vermont USe, C. M. Spaolding elected president, succeeding W. H. Hart, resigned. 
J. H. Robinson elected vice-president and manager. 

Ogden, Henry Y^ resident secretary of the soutbem department 
of llie Liverpool and London and Globe, was born October 15, 1822, in 
Waddington, N. Y. He began his business career in a commission 
house in Montreal in 1840, and in 1846 settled in New Orleans. He 
was for several years a clerk in the Bun office, and remained there 
until he was appointed resident secretary of the Liverpool company in 
1853. In 1861 Mr. Ogden enlisted in the Confederate service, and was 
mustered out in 1865. On his return to New Orleans he was elected 
secretary of the Crescent Mutual insurance company, which position 
he resigned in 1879 to again accept the resident secretaryship of the 
Liverpool and London and Globe for the southern department. Mr. 
Ogden is identified closely with the religious and charitable life of 
New Orleans. 

Ohio Farmers insurance company of Le Roy, O., a mutual com- 
pany, doing an agency business on the stock plan in eleven states, 
being in embarraswd circumstances in October, 1802, consequent upon 
ao examination of its condition by the Ohio insurance department, 
offered its stock risks to several companies for re-insurance. They 
were taken by the Western of Toronto, American Central, Rockford, 
and other companies. The Illinois and Michigan insurance depart- 
ments revoked the license of the company in November. Buit for a 
receiver was begun November 12, by R. B. Wasson of Medina County, 
C, a policy-holder, who, in his complaint, charged the officers with 
misoondact in the investment of the funds of the company. At the 
request of the Ohio superintendent of insurance, the attorney-general 
ol that state wrote an opinion as to the legal status of the company. 



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^^ Omo, Ikburakcb Si^prbvibioIi m. 

He decided that the company might issue policies on the cash preminni 
plan, as proyided in its charter. While for laclc of assets it had lost 
the right to issue polices on the stock plan, it retained its origtn^ 
charter power to issue mutual policies on the cash premium plan. 
Soon after the above opinion was filed the company applied to the 
insurance department for a license to transact business as a mutual 
company, and a license was so issued. 

Ohio Insurance Report for 1892. In part one of the twenty- 
fifth annual report of the superintendent of Ohio, dated February 15, 
1892, it was recorded that the following fire insurance companies ^^ere 
admitted to do business in the state during the preceding department 
year: Albany, Oranite State, Queen of New York, Manchester Fire, 
and Electric Mutual of Boston. Three casualty companies were ad- 
mitted, the American Employers Liability, New York Plate Glass, 
and St; Paul Gkrman Accident. Seventeen fire and one live stock 
company withdrew. In addition seven Ohio fire companies re-insured 
and retired, being the Amazon. Aurora, Enterprise, Farmers of Cin- 
cinnati, Farmers of Dayton, United Manufacturers of Cleveland, and 
Western of Cincinnati. 

The superintendent referred to the unsatisfactory condition of the 
business of fire insurance, and called attention to the fact that vv^bile 
the enormous and increasing fire losses during the last few years ^w^er^ 
in a large measure chargeable with this condition of affairs, the com- 
panies themselves were also responsible by reason of the methods 
pursued in the transaction of their business, involving inadequate 
rates, insufficient inspection of risks, and various other departures 
from the principles of insurance. The superintendent said that le^s- 
lation was a factor in bringing about the situation, and recommended 
that it should be favorable mstead of antagonistic to the business. It 
was suggested that the laws of Ohio relating to mutual fire insurance 
companies be so amended as to eliminate the feature providing for an 
unwritten contingent liability in certain cases. The old charter com* 
panics and the effort made for their supervision by the insurance 
department were discussed at some length. 

Part two of the report was dated May 1. But one life insurance 
company was admitted durins the year, the Life Indemnity and Invest- 
ment of Sioux City, Iowa. It was staled that the applications of the 
Life Insurance Clearing Company of St. Paul and the Vermont Life 
of Burlington for admission were rejected, but no reasons were given. 
Two life companies, the Commercial Alliance of New York and Im- 
perial of Detroit, ceased to do business in the state. 

The receipts of the department for the year ending December 81, 
1891, were $61,809.76, and the expenditures $13,571.68. 

Ohio, Insurance Sapervision in, 1867-1893. By act approved 
April 15, 1867, the auditor of state in Ohio was charged with insurance 
supervision. March 12, 1872, an act was passed establishing a state 
insurance department, under a superintendent of insurance to be ap- 
pointed by the governor for a term of three years. The auditors ^who 
discharged the duties of supervising officer were James H. Godman 
and James Williams. The superintendents since the organization of 
the department have been: 



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OVBRHBAD WrITIKO. 278 

William F. Cbarch, Jane 8, 187*— June 2, 1875. 

W. D. HiU^. June 8, lero-^une 8, 1878. 

Joeeph F. Wright, June 2, 1878--June 2, 1881. 

Chanes H. Moore, June 2, 1881— June 2, 1884. 

Henry J. Reinmond, June 2, 1884— June 2, 1887. 

Samuel B. Kemp, June 2, 1887— June 8, 1890. 

WUliam H. Kinder, June 8, 1890-^une 8, 1808. 

William M. Hahn June 8, 1888— 

The chief clerk, or deputy superintendent, of the department ia Thad. 
R. Fletcher. 

Oklahoma, Ingarance SaperTision in, 1890-1898. Under the 
territorial law the secretary of the territory is ex officio commissioner 
of insurance. The law authorizing the department went into effect 
December 34, 1890. The headquarters are at Guthrie, and the present 
secretary is Robert Martin. The statute does not provide for the 
appointment of a deputy. J. C. Omer holds the position of chief 
clerk in the office. 

Oregron, Insurance Superfision in, 1887-1898. The secretary 
of state in Oregon is ex officio insurance commissioner under the legis- 
lative act of 1^. The secretary is elected by the people and his term 
is for four years, the original term having begun in 1887. George W. 
McBride was the first commissioner. He was re-elected and began his 
second term January 14, 1891, which will be concluded January 8, 
1896. The clerk in charge of the insurance department is Edmond C. 
Giltner. 

Oregon Fire and Marine insurance company of Portland, ors^n- 
ized in 1881, ceased to do business in May, 1892. The St. Paul Fire 
and Marine insurance company re-insured the California risks, and the 
remainder were taken by the Connecticut Fire of Hartford. 

Orerhead Writing; a term applied to the writing of fire insurance 
in the home offices of companies, on risks situated in places where 
they have agents, and independent of these agents. Resolutions intro- 
duced in the annual meeting of the South Eastern Tariff Association, 
in March, 1892, requesting the companies to discontinue the practice 
[see South Eastern Tariff Association] were defeated. After the 
meeting Mr. Stockdell of Atlanta, general agent of the Phenix, made 
an effort to secure the signatures of companies to the following pledge: 

In view of the fact that the local aji^te throufrhont this field arc very justly com- 
plaining: because the recent meeting of the South Eastern Tariff Association failed to 
adopt a resolution pledging the companies not to write business any^ihere in the terri- 
tory over the heads of their local agents, and, whereas the general impression prevails 
that such action would not be proper legislation for the association, I now propose that 



d not be proper legislation for the association, I now propose that 
each company make a voluntary pledge that they will refrain from writing any business 
in the territory and over the heads of any of their local agents in this field. I believe 
thia sentiment will prevail unanimously. If you are willing to make the pledge, will 



you kindly sign the enclosed agreement and mail same to me f The action of the asso- 
ciation requiring agents not to represent any companies paying exceeding fifteen per 
cent, commission will go into effect on the first proximo, and on that day I will turn 
over to the executive committee of the association all the pledges received, so that they 
may certifv the same to all of the agents in this field. I believe that such a course on 
the part of the companies is due the local agents, and am sure that very few, if any, 
will refuse to sign this voluntary pledge. 

The volnntarv pledge is as follows: *' The Insurance company vol- 
untarily pledgee to the South Eastern Tariff Association, that on and after the first day 
of May, 1808, they wUl not write, or cause to be written, any business in the territory of 
that aasodation over the heads of their local agents, without first having obtained the 
agent^s consent thereto. This does not apply to railroad insurance as already defined 
by the South Eastern Tariff Association.'' 



18 



c>^ 



d74 Pacific Inburakcs Chiok. 

The nMuU of Mr. StockdeU's labors appeared iD the following oom- 
munication which he sent to Secretary Tupper, dated May 20, 1802: 

Herewith please find volantary pledgee from the following insurance companin In 
regard to not writing boaineee over the heads of their agents In the territory of the 
South Bastem Tariff Association, without first having obtained their consent thereto: 
Imperial, of England, Home Protection, of Alabama, 

Sonthem, of New Orleans, Westchester Fiie, 

New Yoric Underwriters' Agency, Providence- Washington, 

Hartford Fire, Northern, of England, 

Central Citv, of Alabama, British America, 

American Fire, New York, Norwich Union, 

Mechanics* and Traders*, N. O., Orient, of Hartford, 

Springfield Fire and Marine, Delaware Insurance Company, 

Royiu, of Livenpool, Fire Association, Pa. 

Lancashire, of England, Georgia Home, 

iiBtna, of Hartford, Phemx, of Brooklyn, 

American Fire, Greenwich Insurance Company, 

Hambnig-Bremen. New Orleans Insurance Aasociatloo, 

Crescent, New Orleans, Syndicate Insurance Company, 

State Investment, western, of Toronto, 

Insurance Company of North America, Home, of New York, 
NiasAra Fire, of New York, Commercial Union. 

Son Mutual, of New Orleans, 

I also enclose letten* from the following companies, which I construe to be as good 
as a pledge: Scottish Union and National, Lion, Pennsylvania Fire insurance compapy. 
Phoenix of Hartford. Guardian of London, German- American of N. Y., It Emory W^ar- 
fleld. Continental of New York. I also enclose a circular from Manager Morriis 
of the Oneen, which is a characteristic document, undoubtedly drawn out by my <:iTcn> 
lar of tne 6th instant, in regard to these pledges. The pledges above referred to are 
voluntary, and are made to the South Eastern Tariff Association in behalf of the com< 
panics signing them. I would, therefore, request that they be filed in your archivee as 
an evidence or good faith of the signers. 

Under date of April 29, 1892, the Continental of New York issued 
a circular to its agents recalling the fact that it had informed them iu 
November previous that it would not do overhead writing, and adding: 
"The recent action of the South Eastern Tariff Association, in refua- 
ine to adopt a rule for your protection in this important matter, having 
left our agents in doubt as to the position of some of their companies, 
we again send you this circular reaffirming our position." 

Owen, E. Boger, manager of the fire department of the Commercial 
Union of London, at the home office, was born in Wales in 1850, and 
received his early insurance train ing in the Liverpool office of the Alliance 
of London. He was made manager of the North of England branch 
of that company, and afterwards was transferred to the London office. 
In 1885 he accepted his present position. 



Paciflc, Fire Underwriters Association of. [See Fire Under- 
writers Association of the Pacific] 

Paciflc Insurance Union : Dissensions in the Union, which had 
been smouldering for some time, brolce into open eruption in the 
latter part of 1892, and the Northwestern National of Milwaukee, on 
the claim that the organization had failed to adopt certain promised 
reforms, sent in a letter of resignation, givine the required thuly days' 
notice. Then the Home of New York and Phoenix of Hartford, which 



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Pacific Inbubancb Uniok. 275 

joined the Union with the an(|erstand]ng that if any member with- 
drew tbey would do the same, gave similar warning. Later, the Conti- 
nental of New York wired its San Francisco representative to give the 
thirty days' notice. Meanwhile, a vigorous effort was being made inside 
the organization to prevent the impending disruption. A delegation, 
compoeed of Manager Du Val, and Qeneral Agent BtiUman of the Orient 
(who was Mr. Du Y aVs predecessor as manager), was sent east, to Mil- 
waukee, to confer with President James of the Northwestern, and 
endeavor to arrange terms by which the company would remain in the 
organization. At this conference, which was held December 7, 1892, 
President James presented the following as his company's * ' ultimatum" : 

The Northwestern National will instnict Mr. Tnmer, its San Francisco manager, 
to re-enter the Pacific Insarance TJnion if the committee will guarantee to carry out the 
following: 

jF%r«<— That aalaried ageDtJi will he done away with and all companies placed on 
the aame baaiB as lefluds commiflsion. 



f— That We credit amendment to the constitution will be arran^c<l so that 
may agent who does not remit to all his companies within thirty days after me clothe of 
the month shall he discharged by all the companies he represents. 

7*Air<f — That in the event of the above not being faithfully and truly lived up to 
any company can withdraw without censure. 

These terms formed the basis of a new agreement, to which all the 
members ultimately assented, the withdrawing companies resumed 
their membership and harmony was restored. 

The Pacific Insurance Union was organized by officers and 
managers of fire insurance companies doing business on the Pacific 
coast, in May, 1884. [For histoiy of the early years of the association 
see Cyclopedia of Insurance for 1891.] The first oflScers of the Pacific 
Union were: Charles R Story, president; A. £. Magill, vice-president; 
Charles D. Haven, secretary and treasurer. The present oflScers of the 
organization, who were elected at the annual meeting in June, 1893, 
are: H. R. Mann, president; William R. Dutton, vice-president; A. R. 
Ourrey, auditor; Charles D. Haven, secretary and treasurer; H. R. 
Mann, W. J. Dutton, J. W. G. Cofran, Rolla V. Watt, George F. 
Grant, W. J. Callingham, N. T. James, and E. W. Carpenter, ezecu- 
tive committee. The general manager for the Pacific Insurance Union 
is W. 8. Du Val. His resignation to accept the Pacific Coast manage- 
ment of the Continental was announced, as this volume was about to 
go to press. 

The Jurisdiction of the Pacific Insurance Union covers California, 
Oregon, Washington, Idaho, Nevada, Montana, Utah, and Arizona; 
and it exercises Joint Jurisdiction with the western Union over 
Colorado, New Mexico, and Wyoming, through a compact manager 
appointed by a Joint committee of the two organizations. The enure 
jurisdiction of the first named states is covered by the surveying 
department. All rates are made by the department. Changes in 
rating and new ratings are published bv slips to members and local 
agents immediately upon completion of the visit of a surveyor to a 
looEdity. Due recognition is made in specially rating towns for ini- 
provea facilities in extinguishing fires, improvements in water supply 
and fire departments in towns already specially rated are promptly 
recognized by a decrease in existing rates. Daily reports of all 
policies issued are presented for examination and approval at the 
yarious offices of the Union, and the same action is taken with accounts 



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276 



Paiob's Inburancb Agenct. 



current. The number of enclosures received for examination at the 
San Francisco office in 1892 amounted to some 650,000. The ex- 
amining departments of the Portland and Salt Lake City offices do a 
large amount of similar work. The field supervised by the Pacific 
Insurance Union is divided into three districts, known as districts 
"A." "B," and "C." District A comprises California, Nevada, and 
Arizona; district B, Oregon and Washington; and district C, Ulab, 
Idaho, and Montana. The expenses of the Union are defrayed by 
assessments levied upon members, based upon the net business trans- 
acted by the companies in the different districts. These assessments, 
however, under the provisions of the constitution, cannot exceed one 
per cent, of the net premium income. Local boards have been formed 
under the constitution of the Pacific Insurance Union, at Portland, 
Seattle, Butte, Mont., Salt Lake City, Ogden, Los Angeles, Oakland, 
Stockton, Sacramento, and Spokane, but they do not fix rates. 

The following is a list of the companies represented in the Pacific 
Insurance Union: 

J^.tna. 

Agricultnral. 
Allemannia. 
Alliance, London. 
Anierican CiMitral. 
AmcricAn, Philadelphia. 
American, New York. 
American, New Jersey. 
American, MaHsachuPctts. 
Atlas, liOndon. 
Baloise, Switzerland. 
Boylston, MaHj»HChu»ettB, 
BoHalo German. 
Brill sh America. 
Caledonian. 
Commercial Union. 
Connecticut. 
Continental. 
Delaware. 
Economic, London. 
Farragut, New York. 
Fire Aseociation, Phila. 
Fireman's Fund. 
Firemans', Baltimore. 
Fireman's, Newark. 
Franklin, Phila«lelphia. 
German- American . 
Gennan, Pittsburjjh. 
Germania, New York. 
Germauia, New Orleans. 
Glens Falls, New York. 
Glrard F.'and M., Phila. 
Granit« State. 
Greenwich, New York. 
Giurdian, London. 
Hamburg-Bremen. 

Paige, John C, Insurance Agency, at No. 20 Kllby street, Boston, 
occupies the entire building, a massive, wide front, five stories and 
basement structure, supplied with all appliances to specially adapt it 
to the proper care of the large business there centered. On tbe 
.atreet floor, which opens directly from the sidewalk, is the city 
department for the fire insurance agency and general insurance 
brokerage business. On the second floor is the general agency depart- 



I nambnrg-Magdebarg. 

HartfonlFire. 

Helvetia Swiss. 

Home, New York. 
I Home Mutual, California. 
I Imperial, Ix>ndon. 
I Ins. Co. of No. America. 

Ins. Co. State Pa. 

Lancashire. 

Lion, I^ndon. 

Liv. and Lon. and Globe. 

London and Ijancashirc. 

London Assurance. 

Mag(iebnrg. 

Manchester Fire. 

Mfgrs. and Build's, N. Y. 

Merchants', New Jerwy. 

Michigan Fire and Marine. 

National, Hartford. 

National, Ireland. 

Newark, N. J. 

New Hampshire. 

New York Bowery. 

N. Y. Underwriters. 

New Zealand. 

Niagara, New York. 

No. British and Mercantile. 

North German, Hamburg. 

Northern. London. 

Northwestern National. 

Norwich rnion. 

Oakland Home. 

Oregon F. and M. 

Orient, Hartford. 

Pacific, New York. 



Palatine. 

Patriotic, Dublin. 
Pennsylyania Fire. 
People's, N. H. 
Phenix, Brooklyn, 
Phcenix, Conn. 
Phoenix, l/ondon. 
Prussian National. 
Pro vidence- Washington . 
Queen, New York. 
Reading Fire, Pa. 
R. I. Underwriters. 
Rochester German. 
Royal Exchange. 
Royal. 

Scania, Malmo. 
I Scottish Union and Nafl. 
Security, New Haven. 
Southern, New Orleaoi^ 
Springfield, Maf«, 
Spring Garden. 
St. Paul, F. and M. 
Sun, London. 
Sun, California. 
Svea, Gothenburg. 
Teutonia, N. O. 
Traders', Chicago. 
Transatlantic. 
Union, Philadelphia. 
I'nion, Ivondon. 
United Firemen's. 
United States, N. Y. 
Westchester, N. Y. 
Western, Toronto. 
Williamsbnrgh City. 



Pattison, Jokn M. 277 

ment; the third, the cashier, book-keepers, special agents, and corres- 
pondence files; fourth, liability, casualty, and accident department, also 
the private ofllces of Mr. Paige; vhile on the fifth floor is the reading 
room and clerks' lunch room, supply room, and engineers and surveyors 
rooms. The business, combining as it does the extensive interests of 
a broker in fire, liability, accident, general casualty, and transportation 
iDsurance, the local agency of large and important companies, and the 
United States branch of the Imperial of London, requires all the 
bousing that thia splendid structure gives it. Upwards of one hundred 
persons are employed in the business of this agency. The various 
floors are connected by an elevator as well as by stairs, making com- 
munication easy from one floor to the other, and putting th^ whole 
business under complete and constant supervision by the heads of the 
various departments. 

Paige, John C, is a native of the state of New Hampshire, where 
his boyhood was passed as clerk in a country store with an insurance 
aonez. About 1865 he went into the insurance agency business on 
his own account at Claremont, N. H. Four years later he abandoned 
the country agency for field work as special agent, and afterwards 
as general agent of the Karragansett Fire and Marine insurance com- 
pany of Providence, R. I. In 1878, Mr. Paige having received 
the appointment of New England manager of the Franklin Fire of 
Philadelphia, established his headquarters at Boston, and to the 
general agency he added a local fire insurance agency and a brokerage 
bu&iness, which in time became very large. During the vears which 
followed, Mr. Paige was United States manager for the Metropole of 
Paris, the Reassurances Generales of Paris, the City of London Fire, 
aod the Imperial Fire of London. He retains the control of the last 
Darned company. His experience has been varied and extended to 
every department of fire underwriting, but during the past twenty 
years has centered mostly in the upbuilding of a large local business 
and the management of the Imperial. 

Palatine insurance company of Manchester, Fng., reinsured the 
entire outstanding business of the City of London Fire in April, 1892. 
The Palatine entered the Pacific coast states for business in 1891, and 
in December, 1892, was authorized to do business in the state of New 
York. This was followed by its absorption of the business of its 
sister company, the United Fire of Manchester, which it replaced in 
thij states in \vhich the United Fire had agencies and it extended its 
own agencies into others. Besides $200,000 deposited with the insur- 
ance department at Albany, N. Y., the Palatine also placed $500,000 
in the custody of its United States trustees, Chauncey M. Depew, Ash- 
bel Green, and Gen. Louis Fitzgerald. A New York board of directors 
was appointed, composed of David A. Lindsay, Charles Alexander, 
Robert W. fc^tuart, and Gen. Louis Fitzgerald. The following were 
appointed to be resident managers throughout the country: For the 
eastern and middle states, William Wood, New York; for the Pacific 
coast, Charles A. Laton, San Francisco; for the western department, 
George M. Fisher, Chicago; for the southern department, L. M. 
Finley, New Orleans, 

Pattison, John M., president of the Union Central Life insurance 
company of Cincinnati, was born in Clermont county^ O., June lf^|^ 



278 Pbnm Mutual Aobnct AsaociA^rioH. 

1847. He entered the Union army at tbe a^e of sixteen, in 1864; 
graduated from the Ohio Wesleyan University in 1869; was admitted to 
the bar of Cincinnati, in 1872 ; elected to the state legislature from Hamil- 
ton county in 1878; was attorney for the committee of safety of CMncin- 
nati in 1874 to 1876: was elected vice president and manager of the Union 
Central Life in 1881 and president in 1891 ; was elected state senator 
in February, 1890, and to the Fifty-second congress in the following 
autumn. 

Patriotic insurance company of Dublin, Ireland, began fire Insur- 
ance business in the Pacific coast states in May, 1893. Tbe United 
Bti^ s managers appointed were Okell, Donnell & Co., San Francisco. 

Paulding, Tatnall, president of the Delaware insaranoe company 
of Philadelphia, is a native of New Jersey, where he was bom in 1840, 
and was the son of Rear Admiral Paulding of the navy, as well as 
grandson of the famous Paulding who was one of the captors of 
Major Andre. At the outbreak of the civil war. Colonel Paoldiog 
enlisted in the 7th regiment of New York and went to the front. 
Afterwards, he received a commission in the United States Cavalry 
and fought his way up to the rank of lieutenant colonel. In 1870 he 
entered the fire insurance business in Philadelphia as an agent and 
broker, and 1890 he was elected president of the Delaware. 

Pearce, Samuel W., associate editor of the Pittsburgh Ituuranee 
World. [See D.cath Roll.] 

Peck, Charles H., fire insurance general agent at New York. 
[Sec Death Roll ] 

Pelican insurance company of New Orleans, retired from business 
in October, 1892, its risks being reinsured 'by the Sun Mutual of that 
city. The Pelican confined itself to a local business. The reason 
given by President Young for retirement was the absence of profit in 
the business. 

Pcnn Mutual Agencr Association. This organization, composed 
of the general and special agents of the Penn Mutual Life insurance 
company of Philadelphia, held its ninth annual meeting at Chicago, 
from July 26 to 29, 1892, inclusive. Papers were read by J. W. 
Pressey of Rochester on " How to Secure Business," Charles Thaw of 
St. Louis on " The Power and Influence of Life Insurance on Civiliza- 
tion and Government," Clark Fairbank of Port Wayne, Ind., on 
"The Best Way to Make the Company More Popular with the 
Insuring Public," Darwin Barnard of Boston on "The History of 
Life Insurance," Julian Schley on "The Humorous Side of Life In- 
surance Work," F. A. Kendall of Cleveland on "Life Underwriters 
Associations," William Penn Rowland of Dallas, Tex., on "The 
Future of Life Insurance," and Myer Hariison of Denver, Col., on 
"The Solicitor in the Field." Ofl^cers were elected for the year 
as follows: President, Dr. R. Allison Miller, Huntingdon, Pa.; vice- 
presidents, J. A. Goulden, New York, and Frank Markoe, Baltimore: 
secretary and treasurer, Edward Bourne, Philadelphia; executive 
committee, N. A. Plympton, Boston; W. M. Bunting, Boston. J. C. 
Biggert, Pittsburgh; Jos. H. Harrison, Denver; F. A. Kendall, Cleve- 
land; a. A. Watkins, Detroit; Jos, E. Colt, Northumberland, Pa., an4 



Pbnn Mutual Lifb iNsuaANCB CoMPAifT. 279 

Calrin 8. Smith, Chicago. Coney Island, X. T., was decided upon 
for the tenth annaal meeting in July, 1898. A banquet was hela at 
the Hotel Wellington on the evening of July 29. The old oflScers 
were re-elected at the annual meeting m 1898. 

Peno Mataal Life insurance company of Philadelphia was char- 
tered by the legislature, February 24, 1847. and began business May 
25 of that year, being a mutual or&^ization. The original corpora- 
tors were Messrs. James C. Richardson, John G. Brenner. Richard S. 
Newbold, William M. Clarke, William B. Cooper, John W. Homor, 
Samuel C. Bhephard, William A. Everlv, Daniel L. Miller, Wil- 
liam Robertson, Samuel Dutton, Daniel L. Hutchinson, Edward 
Lukeas, William Martin, Edmund A. Souder, Ellis S. Archer, William 
B. Hart, Edward H. Trotter, Samuel E. Stokes, Benjamin Coates, 
Theophilus Paulding, Lewis Cooper, Samuel W. Weer, Charles 
Schaner. Augustus W. Harker, Joseph M. Thomas, and Wm. H. 
Carr. The original officers were : Daniel L. Miller, president; Wil- 
liam M. Clarke, vice-president; and John W. Hornor, secretary. 
Under the charter the corporation was empowered "to make all and 
every insurance appertaining to or connected with life risks, of what- 
ever kind or nature, and to receive and execute trusts, to make en- 
dowments, and to grant and purchase annuities." A temporary guar- 
antee f upd of $100,000, consisting of endorsed guarantee notes on which 
interest was allowed was provided at the outset. Under the charter it 
was also provided that all persons who insured in the company and con- 
tinued as policy-holders should become members of the corporation 
and entitled to elect the trustees. The vote was regulated by the 
amount of premium paid on the policy. No proxies were allowed, 
each policy-holder participating in the election being required to de- 
posit his vote in person. 

The first dividend was declared in 1849, the accumulated funds of 
the company at that time, apart from the temporary guarantee capital, 
being $81,853. Only one loss had occurred, the amount involved 
being $5,000. At the end of the first decade in the company's history 
the accumulated funds amounted to $611,226. The death claims 
during the ten years, 121 in number, aggregated $290,567. The guar- 
antee capital was retired in April, 1860. The scrip dividends up to 
1860 averaged 40 per cent, of the premiums paid on every life policy 
in force. In 1848 and 1849 the dividends declared were as high as 80 
per cent. In 1862 the scrip dividends of 1850, 1851, and 1852 were. 
Dy vote of the directors, made receivable for cash premiums and 
credited on the notes and loans of those who had paid but part in 
cash, while upon the premiums of the preceding year a new dividend 
of 85 per cent, was declared in scrip. President Miller resigned in 
1862, and was succeeded by James Traquair. Secretary Hornor was 
made vice-president and actuary, and Horatio S. Stephens secretary of 
the company. Until 1868 the company confined its operations to the 
states of Pennsylvania, Delaware, and Maryland. It was admitted to 
New Tork state March 1, 1868. New England and western states 
were also embraced in 1868 for the first time in the companv's field of 
operations. The total assets at the close of the year were $2,541,680. 
The net premiums amounted to $455,102. The total number of poU- 
6ies in force December 81. 1868, was 4,706, the amount of insurance^ 



280 Pemn Mutual Lifb Ihsurakcb Compavt. 

covered being $10,048,740. The dividends made during the fire yeatt 
prior to 1868 were each 60 per cent, upon the premiums paid. In 1870 
President Traquair decline!! re-election, and was succeeded by Samuel 
C. Huey. Vice-president Homor retired from the position of actuary 
and James Weir Mason was chosen in his place. In 1873 Secretaiy 
Stephens was elected second vice-president, with special charge of the 
agency department, and was succeeded as secretary by Henry Austie. 

The legislature of Pennsylvania in 1870 grantea an amendment to 
the charter, authorizing the board of trustees to return the surplus in 
cash in reduction of premiums, or in scrip, or by way of reversionary 
additions to the policy. Under the amendment the company returns 
to the assured all the profits or surplus, after making a four per cent 
reserve, and after setting aside a sinking fund and an undivided sur- 
plus to meet possible future excess of mortality or anv extraordinary 
contingency. The volume of business transacted by the Penn Mututd 
will appear from the figures for 1892. The company had 44,614 poli- 
cies in force at the end of the year, covering |117,026.418 of insurance. 
The total premium income for the year amounted to $4,757,172.41. the 
renewals aggregating $8,506,969.80. The company's total income for 
the year was $5,746,757.55. The total sum paid on account of losses 
and endowments was $1,848,876, and the dividends to policy-holders 
was $732,187.72. The total disbursements through the year were 
$3,578,092.81. The total premium receipts since organization aggre- 
gate $46,216,836 86. The amount disbursed to policy-holders during 
this period is $29,262,233.95; invested for the benefit of policy-holders 
December 31, 1892, $20,808,692 29. The total of disbursements to 
policy-holders and the amount invested for their benefit exceed the 
premium income since organization by $8,854,089.38. 

The company issues policies on a great variety of safe plans. One 
of its specialties has been the life rate endowments the premiums upon 
which are the same as those charged upon the ordinary life tables. 
The dividends upon these policies are made, as usual, annually, placed 
to the credit of the insured, and compounded at the ordinary rate 
of interest made by the company, while the reserve is also com- 
pounded at four per cent, interest. When these two sums, thus com- 
pounded, equal the face of the policy, the sum insured is paid the 
beneficiary named in it. Should the insured die before the maturity of 
the policv as an endowment, the loss is paid as in regular endowment: 
but should death occur after the fifth annual payment, the dividends 
declared and compounded as stated are paid with Uie amount of the 
policy. After the fifth year the dividends, with their accumulations, 
may be used, if desired, to pay the premium upon the policy. The 
company was one of the first to make its policies non-forfeitable for 
their value after the third annual payment. In 1881 Henrv C. Brown 
became secretary and treasurer, succeeding Henry Austie, and has 
since retained the position. President Edward M. Needles as- 
sumed the management of the company in 1886, succeeding Presi- 
dent Huey. Horatio S. Stephens is the vice-president; Jesse J. 
Barker, actuary; John W. Hamer, manager of loans; Henry C. Lip- 
pincott, manager of agencies; Henry H. Ilallowell, assistant secretary 
and treasurer; Jacob Lei thmann, Jr., comptroller; and John J. Mc- 
Cloy, supervisor of applications and death claims of the company, 



Pennsylvania, Insurance SuFEBViaiON in. 281 

The directors are Messrs. James O. Pease, Joseph M. P. Price, Ell- 
wood Johnson, William 0. Houston, Howard Hinchman, William H. 
RhawD, Atwood Smith, John H. Watt, N. Parker Bhortridee, Richard 
8. Brock, Benjamin Allen, John Scott, Charles J. Field, "Robert 
Dornan, R. Allison Miller, Henry S. Eckert, Noah A. Plympton, 
Frank Markoe, Harry F. West, Lincoln K. Passmore, George K. 
Johnson, Joseph Bosler, Frank E. Hippie, Benjamin Rowland, Aaron 
Fries, Harry Rogers, Samuel B. Stinson. . 

Pennsylvania Association of Fire Insurance Agents, was or- 
ganized at Harrisburg, Pa., Jan. 18, 1890, for mutual protection and 
social intercourse, one principal purpose being the discouragement of 
the writing of policies by home ofiSces over the heads of agents at less 
than tariff rates. George E. Wagner of Philadelphia was the first 
president. At the annual meeting held at Reading July 20, 1892, there 
was the largest attendance of members since organization. Officers 
were elected as follows: Frank R. Lieb of Harrisburg, president; W. 
Q. Eno, George E. Wagner, and W. C. Helmbold, vice-presidents; 
G. F. P. Wagner, treasurer; John L. Paul, secretary; F. L. Hitchcock, 
George W. Lenhart, T. J. l>out. J. S. Hoard, Samuel Bausman, W. M. 
Deisher, W. B. Flickinger, F. G. Sweeney, and John E. Colt, execu- 
tive committee. 

In June, 1893, Mr. Paul resigned as secretary, and was succeeded 
by J. H. Musser. 

Pennsylvania Insurance Report for 1892. The nineteenth an- 
nual report of the Pennsylvania insurance commissioner was dated 
April 1, 1892. for part one, and May 2 for part two. The companies 
admitted to the state during the department year were as follows: the 
Albany, Armstrong Fire, Atlas of London. Capital Fire of New Hamp- 
shire, Prussian National, Queen of New York, and Union of London, 
all fire companies, and the Indemnity Mutual Marine of London, to- 

f^ther with the following casualty and surety companies: the Missouri, 
ansas, and Texas Trust Company of Kansas City, New Jersey Plate 
Glass, and New York Plate Glass. Nine assessment hfe and accident 
companies were also admitted, but no new level premium company 
made application. Twenty-one fire and marine companies and three 
assessment companies withdrew during the year. Commissioner 
Luper called attention to the fire loss in Pennsylvania in 1891, which 
aggregated in amount seven million dollars of insured property, be- 
sides property on which there was no insurance. He suggested th e 
enactment of a law providing for legal inquiries into the causes of all 
fires by an officer specially designated for that purpose. 

The receipts of the insurance department during 1891 were $42,991, 
and the expenditures $14,130. 

Pennsylvania, Insnrance, Snpervision.in, 1878-1893. The in- 
surance department of Pennsylvania was created by act of April 4, 
1878. J. Montgomery Forster was appointed insurance commissioner 
by the governor to serve for a term of three years, and assumed the 
duties of the office May 5, 1878. He served as commissioner by suc- 
cessive re-appointments until May 2, 1891, when he was succeeded by 
George B. Luper, who had been deputy commissioner for six years. 
The present deputy is J. Woods Brown. 

^^* Digitized by Google 



282 Phbnix Insubancb Compaht. 

Peoples Fire insurance company of Manchester, N. H., at iu an- 
nual meetin.fi^ in February, 1892, voted to increase its capital stock 
from $350,000 to fSOO.OOO. 

Perez, Demetrlo, auditor of New Mexico, having supervision of 
insurance, was born at Santa Fe, December 22, 1836. Previous to his 
appointment, in 1801, Mr. Perez was a merchant at San Antonio, N. H. 
He has held numerous public offices; was territorial auditor from IBSi 
to 1868; county clerk of San Miguel county and chairman of the 
county commissioners from 1880 to 1886. 

Perking, Oeorge W., third vice-president of the New York Life 
insurance company, was bom at Chicago. 111., January 81, 1862, and 
is the son of a former general agent of the New York Life for Ohio, 
who died in 1885 as an inspector of agencies for the company. Mr. 
Perkins was a clerk in his father's office in Cleveland when fifteen 
^ears old ; cashier of the general agency at nineteen ; in the field orgaa- 
izing agencies at twenty- three, and superintendent of the western 
department of the company, embracing 26 states, at twenty-seven. 
He was called to the home office as vice-president in clurae of Uie 
agency force, under the new administration, in 1892. Mr. Perkins is 
the youngest life insurance officer, with such large responsibilities, in 
the United States. 

Phenix insurance company, of Brooklyn. Thomas R. Burch, 
western and southern general agent at Chicago since 1876, died June 15, 
1892 [see Burch in Death Roll]. In July following, Eugene Harbeck, 
secretary of the Michigan Fire and Marine, was appointed to succeed 
Mr. Burch. 

The Phenix was organized September 10, 1865, under act of June 
25 of that year, the original name being "The Phenix Fire insurance 
company." This name was changed by act of the legislature, Febru- 
ary 19, 1866, to the present one. The capital at first was ^00,000. 
The first meeting for organization was held February 18, 1858. At a 
meeting held one week afterwards, February 25, Stephen Crowell was 
unanimously elected president of the new company. July 28, 1853, 
Philander Shaw was elected secretary. Under its charter the Phenix 
was authorized to write inland navigation and transportation insurance 
as well as fire risks, and in 1859 it added inland insurance to its busi- 
ness. Ocean marine insurance was subsequently written by the com- 
pany. June 27, 1864, the capital stock was increased to $500,000 under 
the general insurance act of 1858. A second increase was ordered 
November 22, 1865, the amount being half a million dollars. A 
technical impairment of capital was occasioned in 1888 on account of 
disastrous marine losses. It was promptly made up by the stockhold- 
ers, and the dividend for that year omitted. At the conclusion of the 
company's first quarter of a century in September, 1878, the total assets 
amounted to |2,580,278, the net surplus aggregating $760,189. The 
income from all sources during this period was $28,075,753. The 
total expenditures amounted to $21,831,168, of this amount $18,502,039 
being on account of losses. During the twenty-five years $2,014,000 
hadoeen paid in dividends to the stockholders. The Chicago and 
Boston conflagrations involved the company in losses amounting to 
$939,779, which were settled with characteristic promptitude, the 



Philadelphia Fna Ikbuhahcb Ratbb. S88 

Phenix being credited with the honor of being the first company to 
begin the payment of claims at Chicago. August 28^ 1887, the dfrec- 
tors decided to withdraw from the ocean marine business, and opera- 
tions were discontinued Heptember 2d. Since 1887 the company has 
demoted its attention principally to fire insurance. The net fire 
premiums in 1893 amountea to |4,242,708. The total income Was 
14,428,906. The amount of insurance in force December 81, 1892, was 
$577,798,018. The total premiums received since organization amount 
to $85,895,848; total losses paid, $44,420,694 ; cash dividends, $8,274,000. 
The Phenix has had but two presidents. Stephen Crowell retained the 
position until April 9, 1888, when he declined re-election. George P. 
Sheldon was aavanced from the vice-president's office, Arthur B. 
Graves was elected vice-president, and George Ingraham second vice- 
president. With the exception of four years, 1875 until 1879, when 
William R. Crowell was secretary. Philander Shaw was the secretary 
from the organization of the company until 1890. Charles C. Little is 
the present incumbent, W. A. Wright being assistant secretary. The 
directors are George P. Sheldon, Arthur B. Graves, Edwin F. Enowl- 
ton, Albion K. Bolan, David B. Powell, William H. Male, Henry W. 
Slocum, George W. Bergen, Augustus Studwell. Edwin T. Kice, 
William P. Beale, William H, Wallace, William J. Logan, John H. 
Latham, Felix Campbell, Samuel E. Howard, John Cartledge, George 
M. Hard. George Ingraham, Henry E. Southwell, William A. Ham- 
mond. Of these, Mr. George W. Bergen is the only one who was an 
original member of the board. 

Philadelphia Association of Life Underwriters was organized 
in December, 1887, William H. Lambert being the first president In 
November, 1889, Henry C. Lippincott was elected president, and was 
succeeded, November, 1890, by I. Lay ton Register, who has been 
twice re-elected. The present officers of the association, who were 
elected at the annual meeting held November 17, 1892, are I. Layton 
Register, president; E. H. Plummer, Richard Fisher, and G. W. 
Woods, vice-presidents; W. M. Scott, secretary; and Amos D. Wake- 
lin, treasurer. The executive committee are H. C. Lippincott, Joseph 
Ashbrook, Joseph F. Neff, J. A. Fowler, G. A. Howard. W. L. More, 
Frank Read, D. A. Keyes, W. H. Lambert, and H. O. Chapman. 

Philadelphia Fire Insurance Patrol was organized in 1889 as 
a voluntary association. The original cost of equipment was $10,000. 
The annual maintenance involves an outlay of $25,000. The present 
officers are George E. Wagner, president; James W. McAllister, treas- 
urer; Thomas C. Hill, secretary; directors, Messrs. Atwood Smith, 
Charles Piatt, E. C. Irvin, and John L. Thomson; captain, George R. 
Stillman; station No. 1, 516 Arch street, assistant captain. William H. 
Porter; station No. 2, northeast corner Fifth and Hackley, assistant 
captain, Sylvester B. Peak. 

Philadelphia Fire Insurance Rates were advanced in May, 
1892. The Philadelphia Board of Fire Underwriters promulgated the 
following orders: 

1. (a) On all ritkB rated prior to Feb. 26, 18M, written or renewed on and after 
thfs date, an advance of SO per cent, shall be charged, except textile mllle, on which an 
advance of 88| per cent, shall be charged. t 

(b) All BQch policies most contain a co-insurance claase of at least^Q.j^^rjpent ^ ^^1^ 



284 PatLUPfi, Oboroe W. 

(c) Policies ooyering more than one item shftU hare a co-insonuioe claiwe of at leist 
80 per cent., applying apecificallj to each item. 

%. Whenever it is claimed that the 80 per cent oo-insarance daose will woik s 
hardship to the assured, written appeal may be made to a special committee of ire io 
be elected by the association, which is aathorized to prescribe the terms on wlilch tbe 
co-insurance clause may be modified or dispensed with. 

8. Where the full co-insurance clause is attached a deduction of 10 per cent, in rate 
may be made after first adding the advance of iO per cent., or 88^ per cent., as above 
proscribed. 

4. The above specified advances shall be charged at the counters of members and 
in the rating of risks. 

5. Sprmlded risks otherwise provided for are excepted from the above. 

6. All rules and regulations in conflict with the forqcolng are hereby annolkd. 

In June a number of busineBS men organized the Philadelphia 
Trades League, invited suffering policy-holden to communicate their 
grievances and Join them, advocated the organization of a League in- 
surance company with $1,000,000 capital, and threatened tlie fire 
insurance "combination" with prosecution as an illegal body. Tbe 
League beat its gong quite vigorously, but the advanced rates were 
not changed. 

Philadelphfa Fire Underwriters Association. The ninth 
annual meeting was held November 18, 1892. President Gfeorge £. 
Wagner, in his annual address, referred to the schedule method of 
rating which had been in force in Philadelphia for nine years, and bad 
proved so beneficial in reducing the hazard. Experience had taught 
that schedule rating was even more beneficial to the policy-holder than 
the companies, as the reduction in premiums had a tendency to outruD 
the decrease in losses. He reviewed the controversy with the Trade* 
League, and said the general advance was but temporary to cover the 
revision of the schedule charges, which was now about complete. 
Referring to underground insurance, he said that a large portion of it 
was placed through two corporations in Philadelphia, and he wondered 
when the companies which pay a half million dollars to the state were 
going to get protection against this illegitimate trafiic. 

As to the electric hazard, now so much discussed, the indication 
was, judging from the charges made in the universal mercantile 
schedule for electric lighting and electric trolley, that the experience 
of companies showed the necessity for such charges, but it was proba- 
bly the fact that electrical matters in Philadelphia were on a better 
footing than elsewhere in the countrv. He thought that the discour- 
aging results of the year's underwriting were due, not so much to in- 
creased losses, as to a shrinkage in premium charges. 

The following officers were elected for the year: President, Geo. 
E. Wagner; vice-president, Robert B. Beath; treasurer, Samuel D. 
Hawley. At the annual banquet in the evening speeches were made 
by President Kennedy of the New York Board of Fire Underwriters, 

E. B. Clark, assistant manager of the Phoenix of London, Secretary 
Post of the Niagara Fire, Henry W. Brown of the Caledonian, George 

F. Reger of the Franklin Fire, W. W. Allen, George Wood of the 
Royal, J. E. Hyneman, and Thomas T. Nelson. 

PhiUips, George W., actuary of the Equitable Life Assurance 
Society of the U. 8., was born at Salem. Mass., November 27. 1827, 
and was graduated from Harvard College in 1847, at the age of twenty 
years. He was the original actuary of the company, and has, therefore, 



Phoenix Mutual Life Inbukance Cohpant. 285 

filled the office thirty-four years. Mr. Phillips is one of the council of 
the Actuarial Society of America. 

PhcBiiix Insnrance Company of Hartford, Conn. This company 
was organized June 21, 1854, under a perpetual charter, and com- 
mencedf business with a cash capital of $200,000. The capital stock 
was increased to $400,000 June 16, 1859; to $600,000 April 7. 1864; to 
$1,000,000 April, 1876, and to $2,000,000 April, 1881 — fully paid up in 
cash. 

Since its organization the company has received over $54,000,000 in 
premiums, and has paid over $82,000,000 in losses, and its assets now 
amount to more than five and one-half millions. 

The present officers are as follows: President, D. W. C. Skilton; 
vice-president, J. H. Mitchell; 2d vice president, Charles E. Galacar; 
secretary, Geo. H. Burdick; asst. secretary, John B. Enox. 

The company's branch offices are as follows : Western, Cincinnati, 
Ohio. H. M. Magill, general agent, T. F. Spear, asst. general aeent; 
Pacific, San Francisco, A. E. Magill, general agent; Canadian, Mon- 
treal, (herald E. Hart, general manager. 

Phcenix Mntnal Life insurance company of Hartford, Conn., 
was chartered originally by the Connecticut legislature as the Ameri- 
can Temperance Life insurance company. This was in May, 1851, 
and the incorporators were, among others, ex-Chief Justice Thomas S. 
Williams, Barzillai Hudson, Francis Gillette, Edson Fessenden, Ben- 
jamin E. Hale, and James B. Hosmer. The capital was $100,000, 
with power to increase to $200,000. Sixteen per cent, was payable in 
cash, and the balance was to be secured, to be paid by bond or mort- 
gage, or approved endorsed promissory notes payable at such times 
as the directors might determine. The by-laws provided that no risks 
should be taken by the company upon the lives of persons addicted to 
the habitual use of intoxicating liquors as a beverage. The charter 
provided that policies might be issued "stipulated to be with' or 
without participation in the profits by the insured." The ninth arti- 
cle of the by-laws, adopted November 25, 1867, provided that the 
business of the company should be conducted on the mutual plan. 
June 25. 1861. an act was passed changing the name of the company 
to it present title. The first officers were: Barzillai Hudson, presi- 
dent; Tertius Wadsworth, vice-president; and Benjamin E. Hale, sec- 
retary. In 1853 Edson Fessenden became president, and remained at 
the head of the company for twenty-two years. He was succeeded, 
June 29, 1875, by Aaron C. Goodman. At the same time Jonathan 
B. Bunce was elected vice-president, and John M. Holcombe secre- 
taiy, the latter succeeding James F. Bums. February 21, 1876, the 
guarantee stock notes, amounting to $84,000, were retired, and an 
actual cash capital of $100,000 was established. 

An exhaustive examination of the company's condition was made 
by the Connecticut insurance department, the result showing, in the 
language of the commissioner, that the assets in favor of the policy- 
holders %ere ample, the amount. December 31, 1875, being $10,224,- 
828. The total number of policies in force was 30.281, of this number 
22,567 being life, and 7,710 endowment. The total insurance covered 
was $60,247,186. June 21, 1899, the charter was amended by the 



-\ 



280 Phoenix Mutual Lifb Ikburajrgs Compaht. 

legislature, authorizing the retirement of the capital stock at a price 
not exceeding $250 per share, the purchase to be made in the interest 
of the policy-holders. The surplus of the company, not in excess of 
$600,000, was to be used in making the purchase. At a meeting of 
the participating policy-holders in Hartford, December 8, 1880, the 
pfOYisions of the amendment were ordered to be carried out and the 
capital stock retired. Up to the dose of 1892. there were outstanding 
twenty-one shares of the capital stock, but that has since been retired, 
and the company is now what its name has always implied, a purely 
mutual company, goyerned by its policy-holders. The oflScers of Uie 
company are: Jonathan B. Bunce, president; John M. Holoombe, vice- 
president; and Charles H. Lawrence, secretary. The board in full 
now consists of Messrs. Jonathan 6. Bunce, president Phoenix Mutual 
Life insurance company; James Nichols, president National Fire In- 
surance company; Nathaniel Shipman, Judge United States district 
court; John M. Holcombe. vice-president Phoenix Mutual Life insur- 
ance company; John C. Parsons, president Hartford Society for Sav- 
ings; Isaac W. Brooks, treasurer Torrington Savings bank; Francis B. 
Cooley, vice-president National Exchange bank; George H. Day, vice- 
presiaent Pope Manufacturing company; Silas W. lS[>bbins, diTector 
American National bank; Charles H. Lawrence, secretary Phoenix 
Mutual Life insurance company; Charles £. Qross, of Hyde, QrossA 
Hyde, attomeys-at-law; John H. Hall, general manager Colt's Patent 
Fire- Arms company; John D. Browne, president Connecticut Fire 
insurance company; Edward D. Bobbins, attorney -at-law, and David 
S. Plume, treasurer Plume & Atwood company, Waterbury. 

The financial condition of the company will appear from the 
appended statement: 

Abpets Jancaut 1, 1898. 

Real estate, coet value, $1,096«9B3.16 

Mortf^ge loana, ......... 5,418,0?9.79 

Collateral loans, 18.080.00 

T.<oans on policies, ........ <9,i58.60 

Premium notes and loan9 on policies, ...... 602,689.68 

Stocks and bonds owned, ....... 9,186331.07 

Cash In office and bank, ........ 8064S85.44 

Interest due and accrued, ....... 188Jil9.61 

Market value of stocks over coHt, 66«978Ji6 

Net deferred and uncollected premiums, ..... 116,644.'iO 

$10,017,916.98 

LlABlLITlKl*. 

Policy values (actuaries' 4 i)er cent.) ...... $8385,419.00 

Death losses and endowments (not due), ..... 93,190.00 

Special policy reserve, ........ 818.848.00 

All other liabilities, - 187,896.29 

$9,408,564.99 
Surplus on policy-holders account, ...... 643,664.64 

$10,047,948.98 
The new plans of the company are brief, clear, and liberal. Life 
and endowment policies have endorsed upon them definite cash, loan, 
and paid-up values, and in case of lapse insurance is extended wiUiout 
action on the part of the insured. The new term plan furnishes pro- 
tection at a low price, and grants valuable privileges in q6^ a change 
is desired to some other form of insurance. ^,y ,... ., . .^ 



Pitcher, Jambs R. 287 

In 1892 an increase was made in assets, surplus, new insurance, new 
premiums, renewal premiums, and insurance in force. The total in- 
come during the year was $1,523,280, the premium receipts amounting 
to $925,786. The total number of policies in force, December 81, 
1892, was 19,788. Of the number outstanding 12,607 were whole life, 
and 7,152 endowment policies. The amount of insurance covered 
was $80,549,306. Since organization the Phoenix Mutual Life has dis- 
bursed more than $32,000,000 among its policy-holders, liquidating 
death claims and matured endowments, and in the payment of divi- 
dends. The amount also includes the sum paid for surrendered poli- 
cies. The original stockholders of the company included prominent 
busineea men, the list containing the names of Edward D. Tiffany, 
Gordon Trumbull. John C. Parsons, James Nichols, Drayton Hillyer, 
James B. Hosmer, John H. Goodwin, Edson Fessenden, James Camp- 
bell. Newton Case, and Tertius Wadsworth. 

Pierce, Jamog F., superintendent of the insurance department of 
New York, was born at Madrid, St. Lawrence County, N. Y., April 
8, 1880. He is a lawyer by profession, having an office in the city of 
New York and a residence in Brooklyn. Mr. Pierce represented 
Kings County in the New York state senate twelve years. He was 
appointed superintendent in 1891, succeeding Mr. Maxwell. 
^__JPierce, Joseph B., secretary of the Hartford Steam Boiler In- 
^sp^tion and insurance company, was born at Thomaston, Conn., in 
1886. When seventeen years old he became connected with a clock 
manufactory at Thomaston, and remained with it until he removed to 
Hartford, in 1854. He entered the insurance business in 1859, as book- 
keeper for the North American Fire insurance company. Afterwards 
he became general agent for the company, and from June. 1866, to 
1871, its secretary. After the Chicago fire in 1871, and until March, 
1873, Mr. Pierce was general agent for the Nfltional Fire of Hartford. 
Since the latter date he has been the secretary of the Hartford Steam 
Boiler. 

Pioneer insurance company of Chicago. The Illinois auditor of 
public accounts obtained temporary injunction against the eompany 
in June. 1892, restraining it from using or disposing of its funds, or 
re-insuring its risks in any company not authorized to do business in 
the state, or otherwise disposing of them so as to impair the security 
for policy-holders. The complaint was made that the company had 
neglected to pay its losses to claimants and paid no attention to their 
demands for the satisfaction of their claims. 

Pitcher, James R., secretary and general manager of the United 
States Mutual Accident Association of New York, was born at Wind- 
ham. N. Y., March 5, 1845. His father was a prominent tanner, and 
he succeeded him in business, but sold out and came to New York, 
taking a position as salesman in the house of H. B. Claflin & Co. 
He was afterwards junior partner in a clothing house. In 1877 he 
organized the accident association, which under his management has 
become the largest institution of its class in the world. Mr. Pitcher 
is interested in various other business enterprises, and is an ardent and 
noted florist, having large nurseries at Short Hills, N. J. 

Digitized by VjOOQIC 



PoLiCT Forms. 



Pittsburgh Lffe Underwriters* Association. 'Benjamin H. 
Lightfoot was elected president in 1891, and E. H. Dermitt in 1892. 
The present officers, who were elected al; the annual meeting held 
March 20, 1893, are Edward O'Neil of the National Life, president; R. 
T. Cunningham of the Michigan Mutual, first vice-president; C. D. 
Hemingway of the Connecticut Mutual, second vice-president; W. H. 
McManus of the Vermont Life, secretary: Austin Pearce of the Union 
Central, treasurer. The executive committee are E. H. Dermitt of the 
New England Mutual; F. T. Lusk of the Mutual Benefit; Chas. H. 
Webster of the iEtna Life; Edward A. Woods of the Equitable; I. F. 
Harris of the Washington Life. 

Plate Glass Insurance Bnsine^s In 1892. The following i.^^ a 
statement of the transactions in platt^ glass insurance in 1893: 



Conipanictt. 



Fidelity and Casaalty, 

IJoyds Plate Olara, 

Metropolitan Plate Glar*;*, . 
New Jereev Plate (4la88, . . . 
New York* Plate Glass, . . . . 



Net Net 

ProiniuniH l^>hse« 
Recfived. !*aid. 



Amoont 

lUsko 
WrittcD. 



AnKKITll 

Risjksi ill 1 «K-r 
Dec. 81. 



S«46,7S3 

28JJ.H()7 

25.r)rrt 

137,Bt>4 



$93.5»9 

l.")r,4:W 

04/.I53 

8,SW 



$9,727,896 
13,S91,982 

9,419,489 
Sn,OGG 

7.191,090 



$9,2117.«^ 
13,33 1.£>: 

885.43tt 



Total, $1,010,568, $891,641 $40,604,459 $37,983,li« 



■' I'latt, Charles, president of the Insurance Company of North 
America, wa-* born February 16. 1829. He was graduated with high 
honors from the University of Pennsylvania when eighteen ya rs old 
and turned his attention to practical affairs by entering the business 
house of his father, William Piatt of Philadelphia, who was exlen 
sively engaged in the China trade. He sailed in one of his father's 
ships to Canton, where he passed some time acquiring a knowledge of 
the business. Returning home in 1850 he was admitted a partner in 
his father's firm. Ten years later he was elected secretary of the In- 
surance Company of North America. In 1869 he was yice-president 
and in 1878 elected president. Mr. Piatt has a wide knowledge of 
marine as well as of tire insurance and has been president of the 
JJjjlional Board of Marine Underwriters. 

Plnmmor, Everett H., Philadelphia general agent of the Berkshire 
Life insurance company, was born in that city June 2, 1855. After grad 
uating from the Philadelphia central high school in 1873. he entered 
the office of the Berkshire Life in Philadelphia as an office boy. Id 
1880, he was general agent for I'astern Pennsylvania, a position which 
he now holds. He is the present secretary of the National Associa- 
tion of Life Underwriters. 

Policy Forms.— Under this heading will be found, first, Fibk 
Insurance, the standard or legal forms adopted by various states, and 
the legislation thereon; second, the forms most in use bv life insurancf 
companies,— both level and natural premium, — taking'the '* ordinfery 
life" policy as the foundation, and describing the variations from 
that form. ^^ t 

.yzedbyCjOOgle 



POLIGfT FOBMB, FiBB. 289 

FIBS INSUBANCB. STANDARD POLICY. 

Bills to adopt a standard form of fire ioBurance policy were, in 
1892» introduced in the state legislatures of Iowa, New Jersey, and 
Vermont, and in 1893 in the legislatures of Connecticut, Illinois, 
Missouri, North Carolina, Ohio, and South Dakota. These bills 
became laws in Connecticut, New Jersey, North Carolina, and South 
Dakota, but failed in the other states named. 

The states, therefore, which have the standard form established by 
law are, including those which adopted a policy prior to 1802, as fol- 
lows, the year of adoption being in parenthesis after each name: Massa- 
chusetts (1873), Michigan (1889), Minnesota (1889), New Hampshire 
(1885). New Jersey (1892), New York (1886), North Dakota (1890), 
Pennsylvania (1891), Wisconsin (1891), New Jersey (1892), Connecticut 
(1893), North Carolina (1893), South Dakota (1893). 

HIBTORT OF THB STANDARD POLTOT. 

Agitation for a uniform policy began almost in the infancy of what 
may be called the modern practice of nre underwriting. In the records 
of the Salamander Society of New York, which was an organization of 
local fire insurance companies in 1821, and the forerunner of the New 
York Board of Fire Underwriters, allusion is made to the appointment 
of a special committee to draft a form. This committee reported to 
the association June 19, 1821, with a proposed form, which, after it 
had been submitted to the directors of the company separately, and 
had received their approval, was adopted and came into general use. 
It was the model upon which all subsequent improved policies were 
made in the United States. 

The National Board of Fire Underwriters was organized in 1866, 
and the very first subject which claimed its attention after it convened 
was a form of policy, the board resolving " That this board recommend 
to the executive committee to draft a fire policy to be used by all fire 
insurance companies belonging to this association." A form was 
reported to the board at its second annual meeting in 1868, and 
adopted. Although the subject of a uniform standard policy to become 
obligatory, was stirred up in the legislatures of New York and Massa- 
chusetts several years prior to this, Connecticut appears to have been 
the first state actually to adopt a law requiring a standard form, which 
was in 1867. The text of this law, the first of its kind, was as follows, 
it being chapter cxxi of the session laws of 1867: 

SscTioN 1. That all policies of insurance iesued bv Are insarance companies of this 
t«tate, after the thirtieth day of September next, phall contain in the printed forma 
annexed uniform conditions as to the ritfics on which the insurance is based, said condi- 
tions to be approved by the general insurance commissioner of the state, and no condi- 
tions except those so approved, nut written in full in the body of the policy, shall be 
valid. 

Sec. S. No foreign fire insurance company doing business In this state shall issne 
poIicieH to citizens thereof, embodying minteil comiUion*, not conUined in the forms 
aathorixed by said commissioner for policies of companies incorporated in this state. 

Sec. 8. Any insurance company or agent thereof, violating any of the provisions of 
this act, stiall be liable to a penally equal to double the amount of premium charged on 
the ri«k on which [the] policy is issued. 

There was much opposition to the enforcement of this law from fire 
underwriters, and a committee of the national board went to New 
Haven, to see Insurance Commissioner Noyes, and lodee with him a 
formal protest. The result was that the law was repealed as s