RIPORT OF THE COMMISSIONER OF INSURANCE.


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AT NEW    YORK RECIPROCAL UINDERWRITTERS
Location of Exchange, 90 West Street, New York City.
The New York Reciprocal Underwriters is an inter-insurers
association transacting business at the same place and under
the same! management as the Individual Underwriters.  This
exchange was organized by John R. Waters, August 13, 1.891,
with ten subscribers. Mr. Waters was made the manager and
attorney-in-fact for the subscribers, and remained at the head
of this institution until December 7, 1911, the date of his deafth.
He was succeeded by Edward B. Swinney. Alfred G. Evans
was appointed by the advisory committee as deputy attorney-
in-fact.
ADVISORY COMMITTEE
The advisory committee consists of the following representa-
tives of mercantile houses:
Arthur W. Watson, of Passavant & Co., New York.
Wm. T. Evans, of Mills & Gibb, New York.
James A. Swan, of Pettis Dry Goods Co., Indianapolis, Ind.
Robert M. Donaldson, of America Lithograph Co., New York.
Albert Plaut, of Lehn & Fink, New York.
E. C. B. Fetherstonbaugh, of Greenshields,, Ltd., Montreal.
Samuel C. Pirie, of Pirie, Scott & Co., Chicago.
DEPOSIT
The original subscribers made a deposit of $2,060 when they
joined the association but this was discontinued during the year
1-895 and on April 5th, 1895, all deposits with interest were re-
turned to the subscribers.
At the present time no initial deposit is required but the
premiums are accumulated until they reach the sum of .$4,000,
after which all savings above that amount are remitted to the
different subscribers at the close of each year. The limit of
the liability of any one subscriber on any one risk in ease of a
conflagration is $20,000. The attorney-in-fact, however has the
power to bind the subseribers on any one risk to $2,000. It will