ble for one-half its face at the end of a specified term of years, with the following option :

An option is given to the assured of waiving, upon not less than one year's previous written notice to the company, the receipt of the semi-endowment, and of electing in lieu thereof, to continue this as a paid-up life policy, for $.. .with participation in profits.

The third condition is changed to read :

Notwithstanding this policy shall lapse and become forfeited for the non-payment of any premium upon the day upon which the same shall fall due, according to the terms thereof as herein before contained, yet, after the payment of three annual premiums, and upon demand made with surrender of this policy within six months after such lapse by such non-payment, this company will issue a non-participating paid-up policy for as many. .parts of the original amount hereby insured as there shall have been complete annual premiums paid; and the paid-up insurance purchased by such surrender of this policy shall be payable at the same time and under the same conditions, except as to the payment of premiums, as the original policy.

The above is determined and agreed by the company and the assured as full compliance with the terms of chapter 347 of the laws of New York of 1879.

Installment Semi-Endowment. This makes the partial endowment payable in three installments, with the above option and the same nonforfeiture features.

This company also writes a Double Endowment, paying at the end of the endowment period double the amount of the life policy.

Poole, Edward A., elected president of the China Mutual insurance company of Boston, succeeding the late George L. Deblois; advanced from secretaryship, and William H. Lord chosen Mr. Poole's

successor.

Providence Life Underwriters' Association: Organized in January, 1887, the constitution and by-laws being identical with the Boston association's. John F. Huntsman was the first president, and Joel M. Spencer, Jr., secretary. The officers for 1890 were: J. F. Hartwell, Massachusetts Mutual, president; C. D. Tucker, State Mutual, vice-president; E. L. Gannon, Mutual Life, secretary; executive committee, the above, with Charles F. Hall, Equitable, and W. G. Barrows, Provident Savings. At the annual meeting of the association in January the recommendation of Governor Ladd that the office of insurance commissioner should be separated from that of state auditor was endorsed.

Providence Protective Department was organized in 1874 as a voluntary association. The charter confers special rights in entering buildings to save life and property, but trusts to voluntary action of the insurance companies for financial support. The city government furnishes the department with two drivers and four horses and provides for their keeping. It also provides house accommodation for the force and equipment. The latter at present comprises two wagons, completely fitted, one sleigh, ninety-four large and fifteen small rubber covers, forty large oil cloth and fourteen oil cloth roof covers, and four canvas roof covers, two ladders, and a full assortment of tools. fire extinguishers carried are owned by the fire department. There is also a life net, which is used in case of necessity. The protective department proved its efficiency during the memorable fires of February 15-19, 1888. The conflagration of February 15 extended over wider area and involved more loss than had any fire in Providence for many

years.

The

It was accompanied by a high wind, with the mercury below

zero.

The efforts of the protective department were chiefly devoted toward saving the Aldrich House, and the men worked until driven from the building by the flames. The falling walls buried more than fifty covers in the ruins. The next morning a special messenger was sent to Boston, and sixty new rubber covers were in the hands of the department before night. The fire in the Theater Comique, February 18, made large demands on the department, and was followed February 19, by the conflagration in the " Daniels & Cornell building," Custom House street. At this fire 151 covers (nearly the entire equipment being used twice) were spread. The entire expense of the department for the fourteen years of its existence was largely exceeded by the value of property saved.

Prudential Fire of Boston: A. P. Martin elected president in February, succeeding H. O. Houghton. Company voted to do only regular stock business, paying the usual brokerage fees. This is one of the famous Cutter syndicate, organized to reduce rates of insurance, and to give insured participation in profits.

Prudential Fire association of New York: November 21 the directors decided to issue a call to the stockholders to pay in twentythree and one-half per cent. on their stock, this course being necessitated on account of an impairment of $47,000. This impairment was brought to light through an examination by the New York state department, which was made, as of November 7, 1890, the unearned premium liability being calculated on premiums in force November 1. Subsequently the directors decided to discontinue business and reinsure the company's risks. The Prudential Fire association was organized November 9, 1887, and began business November 15. The available assets December 31, 1889, amounted to $273,401, as shown by the report to the New York insurance department. The net premiums during the year were $141,508, the aggregate income being $150,502. The aggregate expenditures during the same period were $169,202. The total amount of premiums received from the organization of the company until December 31, 1889, was $318,170; total losses, $137,950; cash divi- ~ dends, $12,000.

Prudhomme, Theophile, vice-president of the Firemen's insurance company of New Orleans, died at Vienna, August 24.

R

Randall, Bennington F., one of the organizers of the Equitable Life assurance society and director for thirty years, died in Jersey City, New Jersey, Friday, March 7.

Randolph, N. V., elected president of the Virginia State insurance company of Richmond in place of N. W. Bowe, who declined reelection.

Rhode Island: The auditor of state holds the office of insurance commissioner in Rhode Island and is elected annually at the May session of the general assembly in grand committee for the term of one year. The annual salary is $2,500, the allowance as insurance commissioner being $1,000. The annual appropriation for the deputy is not allowed to exceed $1,000. The present incumbent of the office, Elisha W. Bucklin, succeeded William C. Townsend in May, 1890. Hugh V. Carroll is the chief clerk and deputy insurance commissioner. [See Legislation.]

Rhode Island Insurance Report: The annual report of the insurance commissioner of Rhode Island was regularly submitted during the legislative session of 1890, presenting a comprehensive summary of the business of insurance companies which were legally authorized in that state. Of the Rhode Island joint stock fire insurance companies, the Atlantic Fire and Marine discontinued business during the year. The companies from other states admitted in 1889 were: The Delaware Mutual of Philadelphia, Pennsylvania, the Franklin of Columbus, Ohio, the Michigan Fire and Marine of Detroit, Michigan, the Rochester German of Rochester, New York, Eagle of New York, and the People's Industrial of Norwich, Connecticut. The companies that withdrew were: The Concordia of Milwaukee, Wisconsin, Eagle of New York city, New York of New York city, Washington Fire and Marine of Boston, Accident insurance company of North America, Montreal, Canada, and the Equitable Accident of Cincinnati. Ninety-nine companies held authority to transact business in the state at the close of the year. Of these, sixty-eight were stock and nine were mutual companies of other states, and twenty-two foreign companies. Nine casualty and guarantee companies and one live stock company were engaged in business. The number of life companies transacting business in the state in 1889 was twenty-eight. The receipts for the year amounted to $97,104.53. Of this amount $53,090.85 was received from the Rhode Island mutual fire insurance companies, $21,065.77 from life insurance companies of other states, and $14,123.72 from fire and marine insurance companies of other states and countries. The licenses and fees amounted to $4,712.

Rhorer, M. M., reappointed deputy in California department by Commissioner J. N. E. Wilson in May.

Ripley, George C., May 1, resigned as president of the Home Life insurance company of Brooklyn, New York, and was succeeded by Charles A. Townsend, George H. Ripley becoming vice-president. The retiring official became the company's secretary when it commenced business, May 1, 1860, and was elected president in 1872.

Rochester Protective Association was organized August 23, 1858, soon after a large fire in the city at which valuable property was stolen by parties engaged in saving it from the conflagration. A call was issued for the formation of a volunteer company, the fact that this property had been stolen while the fire was in progress being the principal reason advanced in favor of the organization. The Rochester company was the pioneer in this field of usefulness. March 25, 1868, the company was incorporated under its present name. In 1870, on the introduction of the Babcock extinguisher, the buckets were superseded by these valuable adjuncts, and two have since been used continuously. During this period the apparatus was a fourwheeled carriage, at first designed after a hearse, and long known as such, varying later until the modern light carriage to be drawn by hand was adopted. May 25, 1882, witnessed the change from the hand carriage to the present wagon, built by the Milburn wagon works, and the adoption of horses together with permanent men. In all this time the work had been done by volunteer members, the roll averaging 50 men, with a working or active list of about 20. The company accumulated property, and, after two changes in location, finally occupied in 1882 a three-story house of special design, built on land owned by the company, but erected by the city under special arrangement with the company. Since August 18, 1882, the equipment has been equal to any fire patrol company in the country, as everything new of value has been adopted, and the record gained for efficient work has been satisfactory to the city and insurance companies, who are the indirect beneficiaries. The income was derived from a modest appropriation at first from the city of Rochester, but has been increased to $1,600 per annum at present.

No provision is made for its maintenance by the insurance people, as their 2 per cent. tax goes to a benevolent fund, but the organization has had several handsome sums raised for its equipment from the insurance companies doing business in the city. The working force is still mainly volunteer, as none of the members are paid for their services. The only paid men of the company are two drivers, paid by the city from the regular department fund, and one steward employed by the com. pany. The average night force is over 12, and at large fires the force is usually from 15 to 20. Accommodations are provided for 12 regular bunkers, aside from the three paid men, who also form part of the working force. The value of the real estate is about $40,000, but is somewhat encumbered.

The equipment is owned mainly by the city, although the company owns the personal equipment, and can put 30 men in shape to do fire duty with full working uniform, including smoke protectors and the best rubber coverings. The wagon, horses, covers, and extinguishers are owned by the city. The equipment at present consists of one duty wagon, cost $500; one supply wagon, $200; two horses, $600; 75 canvas and rubber covers in good condition, two Babcock extinguishers, six cover poles, Chicago style, one door opener, 30 smoke protectors, two axes, bars, an other tools, 500 feet rope, six lamps, and one station. The present membership is 40. The running apparatus is furnished by the city out of the fire department fund. The company is under the control and direction of the chief of the paid department.

The annual expenses of the company about equal the appropriation, $1,600.

Rollins, Frank W.: In November elected president of the Capital Fire insurance company of Concord, New Hampshire.

Schwendler, Frederick, vice-president of the Germania Life insurance company of New York, died Saturday, June 7, at Orange, New Jersey; one of the founders, and vice-president from the organization of the company in 1860.

Shallcross, John W., secretary of the Louisville Board of Underwriters, died April 30; formerly Louisville agent of the Ætna insurance company of Hartford.

Shandrew, Charles: Elected secretary of the Minneapolis Mutual Fire insurance company, succeeding Charles H. Spencer, resigned. Mr. Shandrew was formerly insurance commissioner of Minnesota. [See Minneapolis Mutual Fire.]

Schultz, Daniel, director and general agent of the Milwaukee Mechanics, died February 7.

Seattle, Wash., March 25, the sum of $775,000 appropriated by the city council for improvement of water supply, and $165,000 for fire extinguishing apparatus and equipment, including a fire-boat, costing $55,000.

Shaw, George, elected secretary of the Eliot insurance company of Boston in January, succeeding A. P. Curtis.

Shaw, Philander, retired in April from the secretaryship of the Phenix insurance company of Brooklyn; succeeded by Charles C. Little, who was advanced from assistant secretary, the latter position being taken by W. A. Wright.

Simonson, John W.: Claim of estate against the New York City insurance company for $8,000, being unpaid salary prior to 1881, when the company's business was reinsured in the Standard of London, awarded by Staten Island jury May 5, with interest.

Skoffeld, E. D., appointed superintendent of agencies for the Union Mutual Life insurance company in May, with headquarters at Portland, Maine.

Smith, Edward B., actuary of the Life insurance company of Virginia and professor of mathematics in Richmond college, died July 31. Deceased was a member of the Actuarial Society of America.

Smith, George F.: Appointed assistant manager of the Factory. insurance association at Boston in December.

Smith, Henry D., died at San Antonio, Texas, Jan. 8; formerly secretary of the Union Mutual Life of Portland; represented the company as special agent in Texas.

Smith, John W.: appointed inspector of fire departments, fire patrol, and water supply by the National Board of Fire Underwriters