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REPORT OF THE COMMISSIONER OF INSURANCE.


THE ATTORNEYSHIP.
The attorney-in-fact and manager of the Subscribers at Under-
writers Exchange is Mr. H. J. Straight. Mr. Straight is an
insurance man having a long experience in the fire insurance
business. He was born in Chautauqua County, New York, moved
to Livingston County, Illinois, and afterwards to Chicago, Illi-
nois, in 1874, where he engaged in the fire insurance business.
He has been agent for the Sun and the Atlas of London, Eng-
land, besides several other stock companies up to the time he
organized the Underwriters Exchange.
Mr. Levi B. Bane is deputy attorney, and Mr. Converse God-
dard has lately become associated with Mr. Straight as assistant
manager.
The attorneyship of the exchange has never been incorporated.
The right of the power of substitution of the attorney requires
the consent of the advisory committee.
COMMISSION OF ATTORNEY.
The attorney-in-fact receives a commission of 15 per cent of
the gross premiums written for carrying on the business of the
exchange. This commission is in full for all the management
expenses, except those of taxes, counsel fees, and advisory com-
mittee expenses. The last three items form only a small part
of the expenses of the exchange.
ADVISORY COMMITTEE.
The attorney-in-fact is assisted in his duties by an advisory
committee of five members of the association who are elected
annually by the subscribers. They act as a board of trustees
and have charge of the funds of the subscribers. The members
of the advisory committee are as follows:
Mr. Robert Geddes of Havens & Geddes Co., Indianapolis, Tnd.
Mr. George A. Martin of the Sherwin-Williams Co., Chicago.
Mr. C. N. Hanna of Arbuthnot-Stephenson Co., Pittsburgh, Pa.
Mr. G. P. Blair of Samuel Cupples W. W. Co., Chicago.
firV J. 8, Mitchell of T4, St Donaldson Co., Minneapolis, MiUnm