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REPORT OF THE COMMISSIONER OF INSURANCE.


INSPECTION
The Exchange eniploys a trained class of engineers to; make
inspections and recommend safety devices' to! manufacturers.
The recommendations of the inspectors are forwarded to the
subscribers and in turn the subscribers, notify the manager of
the Exchange whether the recommendations of the inspectors
have been carried out. We are of the opinion that the inspec-
tions are very thorough and that the manager of the Exchange
receives the hearty co-operation of the subscribers in making
such changes as will conserve the lives: of their employees and
prevent accidents.
NATURE OF RISK
The Exchange insures the employers of labor against accident
claims of the employe.    It accepts risk from  manufacturers
located in states having a workingmen's compensation law and
also those that do not have such a, law. As a matter of fact,
it does business. in nearly all the states, settling claims according
to the statutes of the various states in which it does business.
FINANCIAL STATEMENT
The financial condition of the Exchange, as, of May 31, 1913,
is as follows:
Ledger assets, December 31t, 1912:
Cash in banks:
Southwest National Bank ..... ...... $28,362.34
Commerce Trust Co .................  31,248.38
$59,610.72
Deposit premiums in course of collection .............  16,129.30
Total ................. .......................... $75,740.02
Income
Gross deposit premiums written ............. ........... $83,640.07
Deduct
Return deposit premiums ...... ...... $33,139.47
And charge to subscribers for rein-
surance against excess losses ....  3,425.30
36,564.77
Net deposit premiums ................... $47,075.30
Interest on bank deposits ...............................  262.42
Total  income  ............. .........................  $47,337.72
Suni carried forward ... .                          $123,077.74