Hartford, in 1854. He entered the insurance business in 1859, as bookkeeper 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 National Fire of Hartford. Since the latter date he has been the secretary of the Hartford Steam Boiler.

Pierson, Israel C., actuary of the Washington Life insurance company and secretary of the Actuarial Society of America, was born at Westfield, N. J., August 22, 1813. He was prepared for college at the Fort Edward Institute, N. Y., and was graduated from the University of the City of New York in 1865. He received the degree of A. M. from the University in 1868 and of Ph.D. in 1890. His connection with life insurance began in the actuarial department of the Equitable Life. Besides being actuary of the Washington Life, Mr. Pierson is corresponding member of the Institute of Actuaries of France, fellow of the American Statistical Society, member of the New York Academy of Sciences, of the New York Mathematical Society, and of the Council of the University of the City of New York. He is a charter member of the Actuarial Society of America, and its secretary since organization.

Pinkney, Arthur E., Missouri state agent of the Phenix insurance company of Brooklyn, is a native of Missouri and was born in the town of Louisiana in that state, August 26, 1855. He was educated as a lawyer and practiced his profession from 1876 to 1882. His service in the fire insurance business has been as follows: Special agent of the Springfield Fire and Marine in Dakota from March, 1884, to December, 1885, special agent of the Fireman's Fund of San Francisco for Missouri and Kansas from the latter date to July, 1891, state agent of the Phenix for Missouri from July, 1891, to the present time, president of the Sunflower Club of Kansas from its organization in March, 1890, to July, 1891, president of the Fire Underwriters' Association of Missouri from June, 1892, to September, 1893. Mr. Pinkney is a member of the board of directors of the Fire Underwriters' Association of the Northwest.

Pittsburgh Insurance Company, Pittsburgh, Pa. Organized 1851; capital, $100,000. A. Bradley, president, H. McKown, secretary.

Pittsburgh Life Underwriters' Association. Benjamin H. Lightfoot was elected president in 1891, E. H. Dermitt in 1892, and Edward O'Neil in 1893. The present officers, who were elected at the annual meeting held March 19, 1894, are F. T. Lusk of the Mutual Benefit, president; R. A. Clark of the Phoenix Mutual, first vice-president; I. F. Harris of the Washington Life, second vice-president; W. H. McManus of the Vermont Life, secretary; Austin Pearce of the Union Central, treasurer; E. M. Tillinghast, E. A. Woods, B. H. Lightfoot, W. S. Huntley, A. C. Kerr, executive committee.

Planters and Merchants Insurance Company, Mobile, Ala. Organized 1866; capital, $100,000. W. H. Fitzpatrick, president, J. H. Tindall, secretary.

Plate Glass Insurance Business in 1893. The following is a statement of the transactions in plate glass insurance in 1893:

Platt, Charles, president of the Insurance Company of North America, was born February 16, 1829. He was graduated with high honors from the University of Pennsylvania when eighteen years old and turned his attention to practical affairs by entering the business house of his father, William Platt of Philadelphia, who was extensively 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 Insurance Company of North America. In 1869 he was vice-president, and in 1878 elected president. Mr. Platt has a wide knowledge of marine as well as of fire insurance and is president of the National Board of Marine Underwriters.

Plummer, Everett H., Philadelphia general agent of the Berkshire Life insurance company, was born in that city June 2, 1855. After graduating from the Philadelphia central high school in 1873, he entered the office of the Berkshire Life in Philadelphia as an office boy. In 1880, he was general agent for eastern Pennsylvania, a position which he now holds. He is the present secretary of the National Association of Life Underwriters, and president of the Philadelphia Association of Life Underwriters.

Plympton, Noah A., president of the Boston Life Underwriters' Association and one of the New England general managers for the Penn Mutual Life, is a descendant of the old Massachusetts Puritan stock, as his family name indicates, and was born at Shrewsbury in that state, September 7, 1841. He was educated in the common schools and learned the trade of watchmaker and jeweler In 1880 he was a local insurance agent at Worcester, Mass., and in 1881 the Boston general agent of the Penn Mutual Life. In 1884, the firm of Plympton & Bunting, of Boston, of which he is senior member, were appointed New England managers for the Penn Mutual, their special jurisdiction being over the states of New Hampshire, Massachusetts, and Rhode Island. He was elected a director of the company in 1886, and is chairman of the committee on the medical department. Mr. Plympton was, for a time, quite prominent in Massachusetts politics. He was chairman of the executive committee of the Democratic state

central committee in 1882-3, having entire charge of the Butler campaigns. When Gen. Butler was governor he nominated Mr. Plympton for state insurance commissioner, but the executive council failed to confirm the appointment by a strict party vote. Commissioner Tarbox appointed him department examiner. He was elected president of the Boston Life Underwriters' Association in 1894.

Policy Forms. Under this heading will be found, first, the standard or legal forms of policies of fire insurance adopted by the various states, with a history of the legislation on the subject, and second, a summary of the various forms of policies in use by life insurance companies, and in the case of new forms, and new companies whose forms have not heretofore been published, the entire text of the policy. [For full text of forms of life policies, see Annual Cyclopedia of Insurance for 1892-3; also "Handy Guide to Premium Rates, etc.," published by the Spectator Company, New York; also "Life Insurance Manual," by A. J. Flitcraft, Chicago, Ill.]

FIRE INSURANCE. STANDARD POLICY.

Bills to adopt a standard form of fire insurance policy were, in 1893, introduced in the state legislatures of Connecticut, Illinois, Mis souri, North Carolina, Ohio, and South Dakota, and in those of Iowa and Ohio (again) in 1894. 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 1892, as follows, the year of adoption being in parenthesis after each name: Massachusetts (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).

HISTORY OF THE STANDARD POLICY.

Agitation for a uniform policy began almost in the infancy of what may be called the modern practice of fire 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

Massachusetts 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:

SECTION 1. That all policies of insurance issued by fire insurance companies of this state, after the thirtieth day of September next, shall contain in the printed forms annexed uniform conditions as to the risks on which the insurance is based, said conditions to be approved by the general insurance commissioner of the state, and no conditions except those so approved, not written in full in the body of the policy, shall be valid.

SEC. 2. No foreign fire insurance company doing business in this state shall issue policies to citizens thereof, embodying printed conditions, not contained in the forms authorized by said commissioner for policies of companies incorporated in this state.

SEC. 3. Any insurance company or agent thereof, violating any of the provisions of this act, shall be liable to a penalty equal to double the amount of premium charged on the risk 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 lodge with him a formal protest. The result was that the law was repealed as soon as the legislature of 1868 assembled, and a form of policy, therefore, was never drafted.

MASSACHUSETTS. It remained for Massachusetts to present the first form of policy deriving its existence from a state government. This form was adopted by the legislature of 1873, and it continued in force without amendment until 1880, when numerous changes were made, and it was again altered in 1881. Under the revision of the insurance laws in 1887, the Massachusetts form, further modified, became a part of the code. All policies may bear at the top the words, "Massachusetts standard policy." The name of the company, location, date of incorporation, amount of paid-up stock, names of officers and agents, number and date of policy, and if issued by an agent the words, "This policy shall not be valid until countersigned by the duly authorized agent of the company atmay also appear on the policy. Printed forms of description may be used, a lightning clause may be added, and any words required by law or by its charter may be incorporated. Riders may be attached and signed, modifying any of the provisions of the policy. With these exceptions, the text must be in type not smaller than long primer, and is to read:

This company shall not be liable beyond the actual value of the insured property at the time any loss or damage happens. dollars to them paid by the insured, hereinafter

In consideration of.......

named, the receipt whereof is hereby acknowledged, do insure..
legal representatives against loss or damage by fire, to the amount of..

dollars.

.and....

Bills of exchange, notes, accounts, evidences and securities of property of every kind, books, wearing apparel, plate, money, jewels, medals, patterns, models, scientific cabinets and collections, paintings, sculpture, and curiosities are not included in said insured property, unless specially mentioned. Said property is insured for the term of.. beginning on the... in the year eighteen hundred and.. at noon, and con.day of. in year eighteen hundred and.

day of...
tinuing until the...

at noon, against all loss or damage by fire originating from any cause except invasion, foreign enemies, civil commotions, riots, or any military or usurped power whatever the amount of said loss or damage to be estimated according to the actual value of the insured property at the time when such loss or damage happens, but not to include loss or damage caused by explosions of any kind unless fire ensues, and then to include that caused by fire only.

This policy shall be void if any material fact or circumstance stated in writing has not been fairly represented by the insured, or if the insured now has or shall hereafter make any other insurance on the said property without the assent in writing or in print of the company, or if, without such assent, the said property shall be removed, except that, if such removal shall be necessary for the preservation of the property from fire, this policy shall be valid without such assent for five days thereafter, or if, without such assent, the situation or circumstances affecting the risk shall, by or with the knowledge, advice, agency, or consent of the insured, be so altered as to cause an increase of such risk, or if, without such assent, the said property shall be sold, or this policy assigned, or if the premises hereby insured shall become vacant by the removal of the owner or occupant, and so remain vacant for more than thirty days without such assent, or if it be a manufacturing establishment, running in whole or part extra time, except that such establishments may run in whole or in part extra hours not later than nine o'clock P. M., or if such establishments shall cease operation for more than thirty days without permission in writing endorsed hereon, or if the insured shall make any attempt to defrand the company, either before or after the loss, or if gunpowder or other articles subject to legal restriction shall be kept in quantities or manner different from those allowed or prescribed by law, or if camphene, benzine, naphtha, or other chemical oils or burning fluids shall be kept or used by the insured on the premises insured, except that what is known as refined petroleum, kerosene, or coal-oil may be used for lighting, and in dwelling-houses kerosene oil stoves may be used for domestic purposes-to be filled when cold, by daylight, and with oil of lawful fire test only.

If the insured property shall be exposed to loss or damage by fire, the insured shall make all reasonable exertions to save and protect the same.

In case of any loss or damage under this policy, a statement in writing, signed and sworn to by the insured, shall be forthwith rendered to the company, setting forth the value of the property insured, the interest of the insured therein, all other insurance thereon, in detail, the purposes for which and the persons by whom the building insured, or containing the property insured, was used, and the time at which and manner in which the fire originated, so far as known to the insured. The company may also examine the books of account and vouchers of the insured, and make extracts from the same.

In case of any loss or damage, the company, within sixty days after the insured shall have submitted a statement, as provided in the preceding clause, shall either pay the amount for which it shall be liable, which amount, if not agreed upon, shall be ascertained by award of referees as hereinafter provided, or replace the property with other of the same kind and goodness, -- or it may, within fifteen days after such statement is submitted, notify the insured of its intention to rebuild or repair the premises, or any portion thereof separately insured by this policy, and shall thereupon enter upon said premises and proceed to rebuild or repair the same with reasonable expedition. It is moreover understood that there can be no abandonment of the property insured to the company, and that the company shall not in any case be liable for more than the sum insured, with interest thereon from the time when the loss shall become payable, as above provided.

If there shall be any other insurance on the property insured, whether prior or subsequent, the insured shall recover on this policy no greater proportion of the loss sustained than the sum hereby insured bears to the whole amount insured thereon. And whenever the company shall pay any loss, the insured shall assign to it, to the extent of the amount so paid, all rights to recover satisfaction for the loss or damage from any person, town, or other corporation, excepting other insurers; or the insured, if requested, shall prosecute therefor at the charge and for the account of the company.

If this policy shall be made payable to a mortgagee of the insured real estate, no act or default of any person other than such mortgagee or his agents, or those claiming under him, shall effect such mortgagee's right to recover in case of loss on such real estate; provided, that the mortgagee shall, on demand, pay according to the established scale of rates for any increase of risks not paid for by the insured: and whenever this company shall be liable to a mortgagee for any sum for loss under this policy, for which no liability exists as to the mortgagor, or owner, and this company shall elect by itself, or with others, to pay the mortgagee the full amount secured by such mortgage, then the mortgagee shall assign and transfer to the companies interested, upon such payment, the said mortgage, together with the note and debt thereby secured.

This policy may be canceled at any time at the request of the insured, who shall thereupon be entitled to a return of the portion of the above premium remaining, after deducting the customary monthly short rates for the time this policy shall have been in force. The company also reserves the right, after giving written notice to the insured, and to any mortgagee to whom this policy is made payable, and tendering to the insured a ratable proportion of the premium, to cancel this policy as to all risks subsequent to