REPORT OF THE COMMISSIONER OF INSURANCE.


125


not to exceed one annual deposit. No savings are returnect LO
the subscriber that are not -in excess of twenty-five per cent of
the premium deposit of the subscriber.
COMMISSION TO ATTORNEY
The attorney-in-fact is allowed a commission of twenty-five
per cent of the amount annually deposited by the different siub)-
scribers as premium deposits. This sum covers the underwrit-
ing expenses except legal expenses, cost of adjustment, and taxes.
ADVISORY COMMITTEE
There is at present an advisory committee of seven mrelmbers
of the exchange who have control of the funds of the subscrib-
ers. The names of the members are as follows:
Jacob Mortenson, Chairman, Chicago, Jacob -ilortenson LiU1ii-
ber Co.
J. P. Hankey, Chicago, Chicago SMill & Lumnber Co.
C. H. Worcester, Chicago, Worcester L-nmber Co.
C. A. Barton, Minneapolis, Northland Pine Co.
C. A. Goodman, Marinette, Wis., Sawyer-Goodman Co.
A. J. Huebner, North Yakima, Wash., Cascade Lumber Co.
G. X. Wendling, San Francisco, Weed Lumber Co.
All disbursements of the exchange are made by check atd
are countersigned by one of the members of the advisory comn-
*mittee who is designated by the committee.
INSPECTIONS
The exchange has three inspectors who devote their tiiiie to
visiting plants) rbceommending improvements in fire prevention
apparatus, removal of waste, construction of buildings, and
rendering various services for the reduction of fire waste.
ACCOUNTING SYSTEM
With the modification of a few-ledger titles and the a(lo)-
tion of an appropriate trial balance the accounting system of
this exchange could be made elastic enough from which the an-
nual statement might be drawn with less difficulty than at thle
present time. We have gone over this matter quite thoroughly
with the bookkeeper for the exchange, and be assures us that
the recommendations which we have made will be put into
effect.