Bloomfield 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 States, Chicago, Ill. John S. Paterson, Actuary New York Insurance Department, Albany, N. Y. Max M. Peiler, Ætna Life, Hartford, Conn. C. B. Perry, Mutual Life, New York City. * George W. Philips, A. M., Equitable 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. Josephus H. Richardson, F.F.A.,A.I.A., Commissioner New Zealand Life Insurance Department, Wellington, N. Z. J. G. Richter, London Life, London, Ont. Ernst W. Scott, Amsterdam, Holland. *Howell W. St. John, Ph. B., Etna Life, Hartford, Conn. George F. Salter, M.S., 20 Nassau St., New York." G. W. Sanders, A.B., Michigan Mutual Life, Detroit, Mich. Edward J. Sartelle, State Mutual, Worcester, Mass. *Henry W. Smith, A.M., LL.B., United States Review, Philadelphia, Pa. W. S. Smith, A.M., Deputy Insurance Commissioner, Boston, Mass. Joseph H. Sprague, A.B., Actuary Connecticut Ins. Department, Hartford, Conn. E. L. Stabler, Ph.D., Manhattan Life, New York City. William T. Standen, United States Life, New York City. William E. Starr, State Mutual Life, Worcester, Mass. Samuel E. Stilwell, Ph.D., Penn Mutual Life, Philadelphia, Pa. Richard Teece, F.I.A., Australian Mutual Provident, Sydney, Aus. J. G. Van Cise, Equitable Life, New York City. *R. W. Weeks, New York Life, New York City. George Wegenast, Ontario Mutual, Waterloo, Ont. Archibald A. Welch, A.B., Phoenix Mutual Life, Hartford, Conn. Actuaries, American Faculty of, was chartered in Philadelphia, July 12, 1890. The present officers are L. G. Fouse, president, George D. Eldridge, first vice president, Robert P. Field, second vice-president, W. S. Campbell, secretary and treasurer. (For charter of the Association see the Cyclopedia of Insurance for 1890 ) To carry out the object of the faculty, which is to disseminate light and knowledge on all kinds of insurance, the plan originally adopted was that of issuing 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 The study sheets have been received by over one hundred students, but have been found rather difficult for the average student to master The Faculty has, therefore, determined to prepare a series of textbooks, including one on "Popular Education in Life Insurance," upon which President Fouse and Mr Arthur Hunter, Fellow of the Faculty of Actuaries of Scotland, are busily engaged. The study sheets take students pretty well through the elementary mathematics, and theory of finance. In view of the work being done Charter Members. for the text-books, no further study sheets are being issued. The textbooks will be divided into three parts: Part I will be a treatise on life insurance, divided into historical, statistical, sociological, ethical, jurisprudence, and a chapter on technical terms, their definition and symbolic expression. Part II will be a thorough treatise on elementary insurance mathematics, and theory of finance. Part III will be devoted to life contingencies, in combination with the mathematical theory of finance and will embrace all the elements of actuarial science. On account of other pressing duties upon those who have charge of the preparation of the text-books, the work has not been progressing as rapidly as desired. The president of the faculty, who has the matter under his immediate charge, finds it difficult to devote much time to the work, but believes that the final result will more than compensate for the delay. An effort is being made to make all the analyses so clear and intelligible that an average mathematician can understand them. Part I will practically be a popular work on life insurance, intended to interest those who do not contemplate making a study of actuarial science. Adams, Alexander C., president of the New England Insurance Exchange and New England special agent of the Etna of Hartford, was born in Barnstable, Mass., April 9, 1847. After a country school education he went to Boston to seek his fortune, spent two years in a mercantile house and then found his true vocation in fire insurance. He was in the service of the Howard of New York, from 1865 to 1872, then assistant secretary of the Globe of Boston until 1877. In that year he received the appointment of New England field representative of the Liverpool and London and Globe. He served in that capacity fourteen years and in 1891 transferred his allegiance to the Etna. He was the first chairman of the executive committee of the New England Insurance Exchange, elected vice-president in 1885 and president in 1891. The latter distinction he was obliged to decline in deference to the wishes of the company which he then represented. On being again elected in 1893 he was at liberty to accept. Adams, Marcus W., president of the Sun Life insurance company of Louisville, Ky., was born at Newark, N. J., February 13, 1839. He was in the jewelry business from youth until 1884, and was a large manufacturer of jewelry at Newark, N. J., many years. That city was the birthplace of American industrial life insurance, and through close acquaintance with its growth Mr. Adams imbibed that interest in the business which led him to abandon his old vocation and join in the establishment of an industrial company in one of the chief cities of the south. He was general manager of the Sun Life from its organization and was elected president in January, 1894, on the appointment of his predecessor, Mr. Willis, to be United States Minister to Hawaii. 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 boy in 1861. He was appointed assistant secretary in 1866, and was elected vice-president in 1887, and president in 1888. Etna Insurance Company of Hartford: vice-president Andrew C. Bayne died October 12, 1893 (see death roll). At a special meeting of the directors of the company held October 19, 1893, secretary James F. Dudley was elected vice-president to fill the vacancy. Assistant Secretary William H. King was appointed secretary, Egbert O. Weeks first assistant secretary, and F. W. Jenness second assistant secretary. Mr. Jenness had previously been a special agent of the company in New York State. The Ætna insurance company was incorporated in 1819, and began business August 19. Its capital stock was fixed at $150,000, ten per cent. of which was paid in. The Etna was one of the pioneers in the agency business, and wrote policies in Chicago as early as 1834. Its present capital is $4,000,000, and its stockholders have, at various times paid in in cash, $3,695,000 of that amount. Up to the date of the Chicago fire in 1871, there had been paid in $195,000, and the capital was $8,000,000. After the fire it was reduced one-half and immediately restored by the payment of $1,500,000. After the Boston fire in 1872 it was reduced to two millions and restored by the payment of $1,000,000. In 1881, the payment of another million increased the capital to $4,000,000. The Etna's operations now include every section of the country. The department managers are: Western Branch, Cincinnati, Ohio, F. C. Bennett, General Agent, N. E. Keeler, Assistant General Agent; Northwestern Branch, Omaha, Nebraska, Wm. H. Wyman, General Agent, W. P. Harford, Assistant General Agent; Pacific Branch, San Francisco, California, George C. Boardman, General 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 38 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 successor 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 the twenty-fifth anniversary of his connection with the company. President Clark's associate officers are James F. Dudley, vice-president, William H. King, secretary, and E. O. Weeks and F. W. Jenness, assistant secretaries. The directors are Roland Mather, Gustavus 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 Hollister, Charles E. Gross, and Jas. F. Dudley. T. P. Stowell, C. H. Hollister, Henry E. Rees, W. A. Warburton, J. B. Hughes, O. H. King, A. C. Adams, H. L. Hiscock, C. J. Irvin, H. O. Kline, H. B. Smith, and Thos. E. Gallagher are special agents. The total assets of the company December 31, 1893, aggregated $10,807,666.64. The net cash premiums received during the year reached the sum of $4,161,942; $234,170 being in the inland department. The total cash income for the year was $4,644,787, total cash expenditures, $4,483,810; the fire and marine losses amounted to $2,522,812; net amount of fire risks in force, $472,454,027; inland, $2,928,251. Since organization, the company has received in premiums, $126,779,403; losses paid, $72,556,706; cash dividends, $20,753,365; dividends payable in stock, $2,805,000. [See Cyclopedia for 1892-3.] Etna 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 $1,500,000. The company is permitted, by a special act of the general assembly of 1883, to increase its capital to $2,000,000. The Connecticut legislature in 1820 authorized the establishment of an annuity fund by the Etna 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, the name of the corporation being "The Etna Life insurance company." The fund as originally authorized was $50,000. The business was begun in 1850. Hon. E. A. Bulkeley was the first president of the Etna 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 presiident of the company, who has since retained the office. In 1864 the Etna Life was admitted to New York. March 3, 1865, the company deposited securities 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 1883 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 increase of $250,000 was ordered under the act of 1883, and another of the same amount in 1892, making the present capital of the company $1,500,000. The total net assets, December 31, 1893, amounted to $40,267,926. The premium income during the year was $4,695,745, the total income being $6,810,074. The total disbursements were $5,175,779, this amount including $2,754,348 on account of death losses and matured endowments. The total number of policies in force was 82,745 covering $135,450,723 of insurance. From 1850 until September, 1861, the Etna Life issued none but stock or non-participating 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 authorizing any life insurance company chartered by the state and engaged in actual business to issue accident policies, and January 1, 1891, began the issue of policies projecting 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 employer's liability insurance. During 1893, the company wrote 7,236 accident policies, covering insurance of $26,033,450. The income from accident insurance in 1893 was $113,988.57 and the disbursements $85,811. The present officers of the company are President Bulkeley, Vice-President John C. Webster, elected in 1879, Secretary Joel L. English, elected in 1872, succeeding T. O. Enders, 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. Affeld, F. O., resident United States manager of the HamburgBremen insurance company, is a native of Prussia, but was brought to this country in childhood. 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 flames of the great fire. In 1872 Mr. Affeld was appointed Chicago manager for the Hamburg-Bremen, and in 1873 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 managership. AGENTS, GENERAL, STATE, AND SPECIAL AND DEPARTMENT MANAGERS. APPOINTED IN 1893. FIRE. Achen Munich Fire: Guy Francis (late secretary of the Knoxville Fire), special agent. Etna of Hartford: Charles B. Allen of Lincoln, Neb., special agent; J. E. Davies, state agent for Wisconsin; Jeff D. Thomas of Dallas, special agent for Texas; Nic. Keeler, assistant general manager for the western department at Cincinnati, under F. C. Bennett; J. E. Davis of Racine, state agent for Wisconsin. American Central: J. A. Starr, special agent for Nebraska and Iowa with headquarters at Omaha. American Fire of Boston: Willard C. Hill, special agent for New England; Walter L. Wilcox, Connecticut state agent, with headquarters at South Norwalk." American Fire of Philadelphia: George G. Gill, special agent for southern Illinois and eastern Wisconsin; C. T. Estabrook, special agent in Colorado and Wyoming; A. F. Bolling, special agent for Kentucky, Tennessee, and West Virginia. Atlanta Home: Fred Marks of New Orleans, general agent for Louisiana. British America of Toronto: Frank B. Carpenter, New England general agent; J. M. Biggert, special agent for Delaware and Pennsylvania. British America and Western of Toronto: Charles R. Currie, manager, and Charles Stewart, assistant manager at San Francisco; W. L. W. Miller, special agent in Colorado; John H. Griffiths of Minneapolis, special agent and adjuster in Iowa and Illinois; W. I. Howard, Ohio State agent, with headquarters at Columbus; Lee M. Tucker of Atlanta, manager for South Carolina, Georgia, Alabama, Florida, and Mississippi; W. R. Freman of Dallas, special agent for Texas, Louisiana, and Arkansas. Burlington of Iowa: W. T. Stewart & Co. of Chicago, state agents for Illinois. Capital Fire of Concord, N. H.: George R. Lawrence & Co. of Minneapolis, general agents for the Northwest; O. J. Wiggins of Cincinnati, agent for Ohio. Columbian Fire of Louisville: W. T. Schackelford of Baltimore, state agent for Maryland; Harry L. Millard, special agent for Missouri, Kansas, and Nebraska; Thomas C. Hindman, general agent for the Pacific coast, with headquarters at San Francisco; U. B. Wilson, associate general agent for the Pacific coast. Commercial Union: A. G. Benson of Lincoln, special agent for eastern Nebraska; Lester Eells of North Platte, special agent for western Nebraska; and J. F. Edwards of Deadwood, special agent for the Black Hills; O. D. Munn, general agent for Texas, |