They found that the company never realized from the uncertain assets any divisible surplus which was divided nor which could properly have been divided among the holders of the agreements or apportioned to the policies.

As there are not sufficient assets to pay the present policy-holders their claims upon the scaled basis, it is manifestly inequitable that those who have already received payment in full upon the scaled basis should receive any further payment whatsoever.

The committee omitted the attempt to ascertain the relative interests of the contingent beneficiaries in the respective policies, but made their finding in favor of such beneficiaries jointly. In several instances claims were presented based upon judgment rendered in other states since the commencement of these proceedings, and in which the receivers were not parties. The committee declined to allow such claims or judgments, and based their finding upon the status of the claims as they existed September 21, 1886. The summary is as follows:

Number of policies under which one or more claimants have made claim,
Number of persons found entitled under said claims,
Number of persons found not entitled under said claims,
Number of policies under which claims are made, and which are in whole or in
part disallowed,

8,257

21,206 4,380

1,555 725

Number of persons making claims under policies which have no present value, Total of present value of all policies under which claims have been allowed, $3,031,617.46 The court ordered that all claimants shall be notified by January 10, 1891, whose claims have been disallowed, and that they shall have until February 16 for remonstrances.

The report of the receivers, Messrs. Brooks and Stedman, which was submitted to the court in December, 1890, showed that the cash balance on hand, October 1, 1890, was $464,009.98. The total expenditures under the receivership from the time it was ordered by the court until October 1, 1890, as per reports, were:

From September 22, 1886, to September 30, 1887,

66

October 1, 1887, to March 31, 1888,

April 1, 1888, to September 30, 1888,
October 1, 1888, to March 30, 1889,
April 1, 1889, to September 30, 1889,
October 1, 1889, to March 31, 1800,
April 1, 1890, to October 1, 1890,

$58,745.47

24,503.44

31,445.55

20.568.47

8,644.05

4,507.95

14,516.19

$162,931.12

Classified in general terms these expenditures were for the follow

The cash balance held October 1, 1890, was deposited as follows:

There is still some property unsold as well as the company's claim on the Mono mine, but it is of unknown value. It may furnish a supplemental dividend and it may not. With the money on hand the receivers will be able to make a dividend, probably, of fifteen per cent.

Chase, Charles E., elected an assistant secretary of The Hartford Fire insurance company in July. Mr. Chase is the son of the president of the company, Mr. George L. Chase.

Cheek, Philip Jr., April 19, resigned as Insurance Commissioner of Wisconsin; resignation obliged to be recalled as the Wisconsin law does not authorize the Governor to fill a vacancy in the commissionership; appointed State agent for Hartford Fire insurance company.

Chicago Fire Insurance Patrol, was organized in 1871, and is under the management of the Chicago Board of Underwriters. The patrol committee of the board consists of Messrs. James L. Ross, chairman, William D. Marsh, O. W. Barrett, C. E. Affeld, and R. J Smith. The present equipment of the patrol is 4 stations, 5 wagons, 801 covers in good order, 31 permanent men, 9 auxiliary men, 15 horses, and 12 extinguishers. The committee in the annual report for 1890 recommend the establishment of two additional Patrol companies in the city, one on the North Side and one on the West Side. E. T. Shepherd is the superintendent of the Patrol, the headquarters being at No. 176 East Monroe Street. Company No. 1 was organized October 2, 1871, the total cost of maintenance from that date until December 31, 1890, being $401,931. The present officers of the company are C. W. O'Neill, captain, and George Farnald, lieutenant. Company No. 2 was organized August 3, 1875. The total cost of maintenance has been $148,908. J. A. Hume is the captain, and W. E. Shepherd the lieutenant of the company. Company No. 3 was organized May 11, 1889, the present officers being Captain Frank Whitmore and Lieutenant C. J. Barnes. The cost of maintenance has amounted to $9,949. No. 4, known as The Union Stock Yards Chemical Company, was organized January 26, 1882, and has involved an expenditure of $38,761. The officers are Captain P. L. Mullins and Lieutenant Walter Strickland. The cost of maintenance at The Union Stock Yards is divided equally between the packers and underwriters. The salary account for the three regular patrol companies in 1890 amounted to $28,790. The rental was $7,250, and current expenses amounted to $5,818. The total cost of the department for the year was $45,783. Since organization, the total expenditures, including cost of equipment for the entire force, have been $599,550. The details of work during the year are appended :

The work performed in 1890 was considerably in excess of that of any previous year in the history of the Patrol. The organization attended 281 more fires, spread 1,341 more covers, and was in service at fires 283 hours more than in 1889. There were no serious accidents during the year and but few changes were made in the force. A new house is to be built for Company No. 2, being ready for occupancy May 1, 1891.

Cincinnati Life Underwriters' Association: Organized December 16, 1890, the officers being: Charles E. Logan, General Agent Connecticut Mutual, president; M. J. Mack, General Agent Northwestern Mutual, vice-president; S. M. Brandyberry, Manager Mutual Life of New York, treasurer; Frank M. Joyce, General Agent Mutual Benefit Life, secretary. Messrs. J. D. Shannon, Manager Equitable Life, F. G. Cross, General Agent New York Life, William Yerger, General Agent Provident Life and Trust, S. M. Brandyberry, Mutual Life, J. W. Iredell, General Manager Penn Mutual Life, were appointed a committee to draft an anti-rebate provision for insertion in the constitution and by-laws.

Clark, Z. P., secretary of the Anglo-Nevada Assurance Corporation of San Francisco, died September 1. The deceased was born in Ohio in 1842, and was educated at Lawrence University, Appleton, Wisconsin; served in the ranks of the First Wisconsin Infantry and was wounded at Chickamauga, necessitating his discharge from the service; removed to California in 1870, and in 1874 became general agent for a number of fire insurance companies; became special agent and adjuster for Hutchinson & Mann's agency in 1878, and in 1881 was appointed agency inspector for The Commercial Union Assurance Company of London. In October, 1887, he was elected secretary of the Anglo-Nevada.

Cleveland Association of Life Underwriters: Organized in May, 1889. The original officers were: F. A. Kendall, president; J. W. Lee and W. B. Hillman, vice-presidents; J. C. Trask, secretary; O. N. Olmstead, treasurer; Messrs. S. E. Mulford, C. E. Tillinghast, T. H. Geer, R. U. Bowes, and W. M. Woodruff, executive committee. Subsequently, Secretary Trask resigned and M. E. Cozad was elected his successor. The association at its inception adopted the following resolutions unanimously :

WHEREAS, The agency system of the life insurance companies has become greatly demoralized by the practice of rebating a part of the premium to, and the making of special contracts with, certain applicants for insurance, thereby unjustly discriminating and creating dissatisfaction between members in the same company; and

WHEREAS, Such practices deprive the entire agency force of the compensation which rightfully belongs to it, by reason of the universally admitted principle that "the laborer is worthy of his hire" in all branches of business, whether ma facturing, mercantile, insurance, banking, or in the various professions, such deprivations tending to create financial embarassment leading on to shortages, defalcations, embezzlements, failures, and other distressing conditions, destructive alike to good morals, business integrity, and thrift; and

WHEREAS, The people of the state of Ohio have evidently regarded these demoralizing practices as destructive of their best interests, and of the public good, and have, through their representatives at Columbus, recently passed a bill forbidding all such rebates and other discrimination, such law being known as the "anti-rebate law," and have also provided heavy penalties for violations of the same,

THEREFORE, we, the members of the Cleveland Life Underwriters' Association hereby resolve, That we heartily approve of the passage of the said bill, and hereby pledge ourselves, each to the other, not only to faithfully obey the same ourselves, but

will also furnish to the executive committee of this association evidence of any violation of the same for information of the prosecuting attorney of this county, or any county in Ohio in which the offenses may have been committed.

The officers have not been changed for the current year.

Collis, Gen. Charles T., appointed superintendent of The New York Metropolitan Branch agency of The Equitable Life insurance company in April.

Collran, C. O., in November, elected president of The German insurance company of Freeport, Ill., succeeding Mathias Hettinger, deceased.

Colorado: The auditor of state in Colorado is ex officio superintendent of insurance. He is elected biennially by the people. The duties of the office are assumed on the second Tuesday in January. The present incumbent, John M. Henderson, was inducted into office in January, 1891, succeeding L. B. Schwanbeck. The auditor receives no additional compensation as superintendent of insurance. He appoints a deputy superintendent at an annual salary of $3,000. The present incumbent of the deputy's office is Nathan S. Hurd.

Colorado Insurance Report: The eighth annual report of the superintendent of insurance of the state of Colorado was issued May 1, showing the condition of business, December 31, 1889, of all the companies and associations authorized to transact business in that state. Twenty-four companies were licensed for the first time in the state during the year, the aggregate capital of which was $10,870,000. Three companies withdrew, retiring capital to the amount of $950,000. The whole number of companies and associations in the state transacting business through the year was 122. The Midland Accident company of Kansas city, Missouri, was licensed May 22, 1889, but the company was wound up by the insurance department of Missouri before the end of the year. The Equitable Accident insurance company of Colorado was licensed January 16, 1890, succeeding the Equitable Mutual Accident association of Denver, Colorado. The St. Paul German Accident insurance company was licensed April 22, 1890. The Equitable Accident of Cincinnati, Ohio, withdrew during the year. Of Life companies the New England Mutual Life insurance company of Boston, Massachusetts, was admitted November 15, 1889. Several fraternal organizations filed statements as provided by the amended law of 1889. The anti-rebate law which was enacted by the seventh General Assembly was giving general satisfaction. The enactment making the soliciting and procuring of insurance by any person or persons for any company not licensed to do business in the state a misdemeanor resulted in great good. The increase in the receipts of the department for the year was $14,260.62. The decrease in expenditures was $399. November 30, 1889, there was transferred to the general revenue fund $20,099.81 as against $14,472.36 for the preceding year.

Commerce of Albany: E. D. Jenison elected secretary in May, succeeding Richard DeWitt, who resigned on account of impaired health.

Commercial Alliance Life insurance company of New York, organized by consolidation of The Commercial Union Life and The National Alliance, the absorption of the latter being ratified by vote

of policy-holders, June 5. John I. Holley of the Commercial Union elected president; H. M. Munsell of the Alliance, vice-president; and A. C. Hunt of the Alliance, secretary. The National Alliance was an assessment company, and at time of consolidation had $16,000,000 of insurance in force.

Commercial Union Fire insurance company of New York: November 8, announcement was made that the Commercial Union Fire insurance company of New York would be organized under the New York state laws. The founders of the company were Messrs. Alfred Pell, Charles Sewall, A. H. Wray, W. T. Kaufman, Charles W. Drew, Charles Williams, H. C. Eddy, S. V. R. Cruger, William Allan Butler, E. S. Jaffray, Eugene Dutilh, John T. Terry, and George S. Bowdoin. Certificate of organization has been granted.

Commercial insurance company of Cincinnati retirement of J. Wilson Johnston from secretaryship in April, and E. E. Shippley elected as successor.

Compacts. [See Southeastern Tariff Association.]

Continental insurance company of New York: Pacific coast department established in June by Vice-president Evans of the company; J. J. McDonald appointed general agent with headquarters at San Francisco.

Connecticut: The insurance commissioner in Connecticut is appointed by the governor, subject to the consent and approval of the senate. The present term of office will be completed July 1, 1891. The insurance department was organized July 19, 1865, Benjamin Noyes of New Haven being the first commissioner. He retained the position until July 27, 1871, when the department was re-organized, and Dr. George S. Miller of Enfield, now superintendent of agencies for the Phoenix Mutual Life of Hartford, was made commissioner for three years. His successors have been Messrs. John W. Stedman of Norwich, six years; John W. Brooks of Torrington, three years; Ephraim Williams of New London, three years; and O. R. Fyler, the present incumbent. In 1887, the term was extended one year, being now for four years. The annual salary is $3,500. The office of actuary is provided for under the statute, the salary being $3,000 per annum. This officer is appointed by the commissioner, the present incumbent of the position being Joseph H. Sprague. The clerical corps is paid from the receipts of the office.

Connecticut Insurance Report: Part I of the twenty-fifth annual report of the Insurance Commissioner of Connecticut, relating to fire, marine, casualty, and fidelity insurance, was issued February 17. The foreign companies admitted during the year, with dates of admission, were: North American, Boston, March 8; Reliance, Philadelphia, April 1; Fitchburg, Fitchburg, Massachusetts, April 14; Michigan, Detroit, August 20; and Denver, Denver, Colorado, January 14, 1890. One of the number, the Fitchburg, is a mutual. The aggregate capital of the four remaining companies was $1,100,000. The companies which ceased business in the state during the year were: The Tobacco Growers', North Canaan, Connecticut, mutual, December 14, 1889; Park, New York city, January 7, 1890; Concordia, Milwaukee, Wisconsin, January 22; and The Atlantic, Providence, Rhode Island, January 31. The ag