i42      REP0Rt oif Ttt COMMISS1ONiAR OI tNRt1RA14C2
is being made to work in harmony with the compensation laws
of the different states. The exchange transacts business in
nearly every state, and it includes among its subscribers somne
of the largest and most influential laundrymen in the country.
THE S13UBSCRIBERS AT UTILITIES INDEMNITY
EXCHANGE.
Location of Exchange, La Salle Building, St. Louis, Mo.
The Utilities Indemnity Exchange is an inter-insurers asso-
ciation, transacting liability insurance upon the reciprocal plan.
The attorney-in-fact for the Exchange is an incorporated com-
Pany, called the Utilities Service Company. This Company has
an authorized capital stock, consisting of three hundred shares
of $50 each, making a total capitalization of $15,000. Lynton
T.. Block is president of the Utilities Service Company and is
manager of the Exchange. The Exchange was organized in
December, 1911, and it has had a fairly successful career since
that time.
NATURE OF THE BUSINESS
The Exchange indemnifies the owners of public utilities
against their liability under the workmen 's compensation law
and other liability laws. It accepts as risks, public telephone
companies, gas companies, electric light plants, water work
plants and in fact all forms of public utilities.
LIABILITY OF SUBSCRIBERS
The total liability of any subscriber under his contract is lim-
ited to the amount of the deposit premium provided for in his
policy, together with a like amount to be paid if need be at the
call of the advisory committee to pay excess losses. The attorney
is authorized to insure the risk of excess losses and to deduct
5% of all moneyes received by him for credit to the account of
the subscribers. The attorney-in-fact has recently instituted
this form of protection to the subscribers and has reinsured in
the Casualty Reciprocal Exchange, of Kansas City, Mo., during