REPORT OP THE COMMISSIONER OP INSURANCE.


141


bonds will be paid at maturity. The uncollected deposits were
$34,067.50, and bills receivable taken for deposit premiums
amounted to $1,287.90. These so-called "premium notes" were
simply promissory notes and the insurance would not be for-
feited in case of nonpayment of the notes. Mr. Trimble sub-
mitted to us another form of.note which embodies this fact in
case of nonpayment, and will use it in the future. The un-
collected deposit premiums over ninety days past due, were.,
however, only $4,864.09. The estimated assets were $105,117.95.
The estimated amount of unpaid claims was $17,480. Among
this number there were eleven pending suits at law, for which
a reserve of $500 per suit was set up as a liability, making the
reserve for this purpose $5500. We believe this to be far in
excess of the claims in* similar suits and more than sufficient to
cover all expenditures in connection with them. The reserve
for unearned annual deposit premiums, calculated according to
the insurance laws of Wisconsin for 1913, was $55,037.82. The
unpaid commissions owing the attorney-in-fact were $8,304.73.
The surplus over all liabilities was $18,795.40.
ATTORNEYSHIP NOT INCORPORATED
Tlhis is one of the few exchanges in which the attorneyship
is not incorporated, and Mr. Trimble is the only person con-
nected with the office of attorney-in-fact for the subscribers.
INSPECTIONS
This exchange has a skilled class of inspectors who visit the
different subscribers at least six times a year and make recom-
muendations in regard to safety appliances to protect the eill-
ployes from accidents. In the laundry business there are a
few machines which seem to be the cause of nearly all of the
accidents. Proper shields and devices are recommended by the
inspectors for these machines, and they have resulted in great
savings to the subscribers. The cost of this inspection is borne
by the attorney-in-fact.
CONDUCT oF BUSINESS
The business of this exchange seems to be thoroughly adnminis-
tered. The settlements of the claims are liberal, and an effort