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Gross Assets

$200,000

755,761.61

77,332.43

572,594.67

$1,605,688.71

COMPARATIVE STATEMENT of the increase in Assets and Surplus, also of the Net

Premiums Received and losses paid since organization.

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J. FLETCHER CAMP, Assistant Secretary
HR. MUTSCHLER, Assistant Secretary.

EDWIN G. SEIBELS, Manager Southern Department.
J. F. BURNSIDE, Special Agent.

THOS. J. CONROY, Manager Pacific Coast Department.
CHARLES G. MILLER, Special Agent.
JOSEPH L. BIERBRAUER, Special Agent. F. L. WEINECK, Special Agent.

INSURANCE

A Practical Exposition for the Student and Business Man.

BY T. E. YOUNG, B.A., F.R.A.S.

The author of "Insurance," which is destined to become the standard treatise, is the distinguished actuary, T. E. Young, B.A., F.R.A.S., who is an ex-president of the Institute of Actuaries, ex-chairman of the Life Offices Association, and a member of the Actuarial Societies of Belgium, France and America. Many books treating of different phases of insurance have been published during recent years, but certainly no work of this character, by an authority so well known and so eminent in his profession.

Mr. Young's book affords the necessary material for a complete insurance education, and presents the various phases of insurance in a masterly and intelligible manner. In brief, it is a lucid, simple exposition of the principles and practice of life, fire, marine and other branches of insurance, especially adapted for the use of the underwriter, the student and the business man. It is a book of 340 pages, neatly bound in cloth. Price, $2.50, postpaid.

Insurance Office Organisation, Management and Accounts.

BY T. E. YOUNG, B.A., F.R.A.S., and RICHARD MASTERS, A.C.A.

The above-named new book will be found to be a valuable guide to the proper organization and conduct of an insurance company. In it Mr. Young points out the best methods to be followed in the formation and management of an insurance company's staff, and the most systematic and economical administration of its business. The arrangement of work, selection and training of employees, and many other practical features relating to the operation of a company are comprehensively discussed.

The general principles of bookkeeping are also treated by Mr. Young, and are elaborated in succeeding chapters by Mr. Masters. The general, life, fire, marine and accident departments are taken up separately, and the necessary books and accounts illustrated and described in detail.

This work should be invaluable to anyone contemplating the establishment of a new insurance company, or who wishes to improve present bookkeeping methods. It contains 146 pages, and is bound in cloth. Price, $1.50, postpaid.

Address THE SPECTATOR COMPANY, 95 William Street, New York.

Sole Selling Agents for the Insurance World.

INCORPORATED 1833

British America Assurance Co.

HEAD OFFICE:

TORONTO, CANADA

Hon. GEO. A. COX, President J. J. KENNY, Vice-President

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Life Policies Issued to Suit
All Classes and All Cir-
cumstances, in Amounts

$100.00 to $50,000.00

Home Office: 346-348 Broadway, New York

STATUTORY REQUIREMENTS.

SYNOPSIS OF THE STATUTORY REQUIREMENTS OF THE VARIOUS STATES AND TERRITORIES.

In the following pages will be found concise statements of the statutory requirements for the admission of life and miscellaneous insurance companies to do business in the respective States. In this brief form, the synopses are intended more as a hint than an actual guide, for it is not anticipated that any company in entering a State would be satisfied with anything less than the statutes themselves as their reliance as to conditions. Our summary, however, may be accepted as correct as far as it goes.

It has been our aim in preparing these synopses of the statutes to secure uniformity for all the States and to give the essential requirements in as brief a space as possible consistent with the statement of the facts. The synopsis for each State was sent to the supervising officer of such State and returned to us with his approval to date, or with such corrections as he deemed essential. We believe that the information given in this condensed form is as correct as it is possible to make it and will be sufficient to indicate to all interested the statutory requirements of the different States and Territories. Following the requirements are some notes culled from the statutes which will be of interest to life underwriters.

ALABAMA.

SUPERVISING OFFICER, J. THOS. HEFLIN, SECRETARY OF STATE, EX-OFFICIO INSURANCE COMMISSIONER, MONTGOMERY.

Preliminary Documents.-Copy of charter must be filed with Insurance Commissioner; also copy of annual statement showing condition of the company December 31 preceding. Must furnish a sworn certificate that it has at least $100,000 in approved securities on deposit with the proper officer of some State for the protection of all its policyholders.

Attorney. The Insurance Commissioner must be appointed attorney to accept service of legal process.

Valuation of Policies.-Valuation to be made upon the Actuaries' or American Experience Tables, with interest at four per cent.

Annual Statements.-Must be filed on or before March 1, showing condition of the company December 31 preceding.

Agents.-Agents must procure certificates from Insurance Commissioner to be renewed annually in January. Any person soliciting or otherwise transacting the business of insurance is held to be an agent of the company, not of the assured.

Examinations. The Commissioner is required to examine domestic companies once in two years, or upon the request of five or more stockholders. He may also examine other companies whenever he deems it prudent, or, if he has occasion to believe they

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