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May 20, 1866. He was educated in the Brooklyn public schools, and from 1883 to 1899 was in the employ of the Queen Insurance Company in clerical and special agency work. In the latter year he was appointed New England special agent for the Continental Fire Insurance Company, and was also special agent for the Fidelity Insurance Company and Fidelity Underwriters. He resigned this position to accept his present position on the organization of the company in 1910.

AETNA INSURANCE COMPANY of Hartford was incorporated in 1819, and began business August 19th. Its capital stock was fixed at $150,000, 10 per cent. of which was paid in. The Aetna was one of the pioneers in the agency business, and wrote policies in Chicago as early as 1834. Its present capital is $5,000,000, and its stockholders have at various times paid in in cash $4,695,000 of that amount. Up to the date of the Chicago fire, in 1871, there had been paid in $195,000, and the capital was $3,000,000. After the fire it was reduced one-half, and immediately restored by the payment of $1,500,000. After the Boston fire, in 1872, it was reduced to $2,000,000, and restored by the payment of $1,000,000. In 1881 the payment of another million increased the capital to $4,000,000; in 1910 the payment of another million increased the capital to its present figure. The Aetna's operations now include every section of the country.

The department managers are: Western branch, Chicago, Ill., Thos. E. Gallagher, general agent, L. O. Kohtz, assistant general agent, L. O. Kotz, general agent marine department; Pacific branch, San Francisco, Cal., W. H. Breeding, general agent, E. S. Livingston, assistant general agent.

The company has had six presidents since its organization in 1819. Thomas K. Brace retained the office until 1857, a period of thirty-eight years. Edwin G. Ripley succeeded President Brace, and remained at the head of the company until 1862, when he was succeeded by Thomas A. Alexander. In 1866 Lucius J. Hendee was elected president, and retained the position until his death, September 4, 1888. Jotham Goodnow was elected the successor of President Hendee, being advanced from the secretaryship, which he had held for twenty-two years. He died November 19, 1892, and was succeeded by William B. Clark, who was elected president on the twenty-fifth anniversary of his connection with the company, President Clark's associate officers are Henry E. Rees and A. N. Williams, vice-presidents; E. J. Sloan, secretary; E. S. Allen, G. E. Beardsley and R. B. Ives, assistant secretaries. W. F. Whittelsey, Marine secretary.

The directors are: Austin C. Dunham, Morgan G. Bulkeley, Atwood Collins, William B. Clark, Francis Goodwin, Charles E. Gross, James H. Knight, Charles P. Cooley, Arthur L. Shipman, Charles L. Spencer, Lyman B. Brainard, Charles A. Goodwin, H. E. Rees, A. N. Williams and J. P. Morgan. The special agents are: J. B. Hughes, O. H. King, C. J. Irvin, H. O. Kline, H. B. Smith, James S. Middleton, F. W. Mathews, P. P. Tucker, Joseph M. Biggert,

Joseph W. Russell, George W. Mills, E. C. French, W. C. Roach, H. B. Nugent, C. L. Ruse, S. L. Johnson, F. C. Clarke, Arthur Lohmeyer, W. H. Wart, W. Ross McCain, Edward Wright, J. R. Stewart, I. B. Beard, J. A. Brackney, W. S. Clark, P. W. D. Jones, A. G. O'Neill, Cooper D. Winn, Jr., W. H. Boutell, Frank W. Brodie. The total assets of the company December 31, 1913, aggregated $22,481,250.34. Liabilities, exclusive of capital, $10,571,860.45. The net cash premiums received during the year 1913 reached the sum of $9,948,697.71; $1,424,576.01 being in the inland department. The total cash income for the year was $10,901,004.91; total cash expenditures, $10,168,845.54; the fire and marine losses paid amounted to $5,519,794.88; net amount of risks in force, $1,484,206,137.00. Since organization the company has received in premiums $266,748,414.36; losses paid since organization, $138,501,348.36; cash dividends declared, $35,301,365.00; dividends payable in stock, $2,805,000.00. See Cyclopedia for 1892-3, also biographical sketches in present volume.

AFFELD, CHARLES E., of Affeld, Tonk & Co., Chicago, was born at Stettin, Germany, March 10, 1843. He came to the United States at an early age, his parents going to Chicago in the fall of 1847. He obtained his education in the public schools and a commercial college, and in 1861 enlisted in Company B, First Illinois Artillery, known as Taylor's Battery, serving until July, 1864, and seeing active service in a number of battles of that period. As an early vocation he served as clerk in a drug store and as office boy and clerk in a law office, and in 1868 entered the insurance business as a broker. He was surveyor for the New York Underwriters' Agency from 1871 to 1873 when the firm of Witkowsky & Affeld was formed, which was changed to Affeld, Tonk & Co., on the death of Mr. Witkowsky. He has been a member of the Chicago Board of Trade and of the Chicago Board of Underwriters since 1873, has held various positions of honor and trust outside the insurance business, and is a member of the Union League and Germania, City, and other clubs.

AFFELD, F. O., former resident United States manager of the Hamburg-Bremen Fire Insurance Company, is a native of Prussia, but was brought to this country in childhood. The years of his early manhood, before the civil war, were passed in Chicago, where he was for three years a clerk and student in a law office. Upon the outbreak of hostilities he enlisted and went to the front. On his return from service he accepted the position of solicitor and surveyor for the Mutual Security Insurance Company, and later for the Germania Insurance Company of Chicago. , Both of these companies were destroyed by the great fire of 1871. In 1872 Mr. Affeld was appointed Chicago manager for the Hamburg-Bremen, and in 1873 he was invited to New York by Mr. Von Dorrien to assist in establishing and conducting the United States branch. In 1882 he succeeded to the managership, in association with H. C. Buchenberger, and in 1907 became manager. He retired as manager of the Hamburg-Bremen in March, 1913, after completing forty years' servire with the company.

AFFIDAVIT RISKS. Laws concerning. and Surplus Line Laws.]

(See Reinsurance

AGENT. TERM DEFINED. The insurance laws of many states define who are agents, as follows:

ALABAMA. Section 7189, code of 1907, as amended in 1909.

Any person who solicits insurance on behalf of any insurance company, or takes or transmits, other than for himself, any application for insurance, or any policy for insurance, to or from such company, or in any way gives notice that he will receive or transmit the same, or receives or delivers a policy of insurance of any such company, or examines or inspects a risk, or makes or forwards any diagram of any building or buildings (except as a bona fide draughtsman) or countersigns any policy of insurance, or does or performs any other act or thing in the making or consummating of any contract of insurance with or for any insurance company, other than for himself, or examines, or adjusts, or aids in adjusting any loss for or on behalf of any insurance company, whether such acts shall be done at the request or instance or by the employment of any insurance company, or of or by any other person (except those acting as attorneys at law), is deemed an insurance agent.

ARKANSAS, Section 48, Chapter 3 of the Insurance Laws.

Section 48. Any person who shall hereafter solicit insurance or procure applicants, shall be held to be soliciting agent of the insurance company or association issuing a policy on such application, or on a renewal thereof, anything in the application or policy to the contrary notwithstanding.

COLORADO. Section 21, subdivision 5 of the Act of 1907, creating an insurance department.

A person who is not provided with a certificate from the Insurance Department as an authorized broker or agent or solicitor of an insurance company, and who for compensation solicits insurance in behalf of such company, or transmits for a person other than himself an application for a policy of insurance to or from such a company, or offers or assumes to act in the negotiation of such insurance, shall be an insurance agent or solicitor within the intent and for the purposes of this act. ...

CONNECTICUT. Section 2923 of the General Statutes.

Section 2923. The term agent or agents used in this title shall include an acknowledged agent or surveyor, and any person or persons who shall in any manner aid in transacting the business of an insurance company.

DELAWARE. Section 5 of the Act of 1901 to Re-enact and Revise the Insurance Laws of Delaware.

Section 5. That every person who shall procure or solicit any citizen or resident of this State or take out a policy on his or her life or lives of any other persons in any company or companies not incorporated by the laws of this State shall be deemed a foreign insurance agent within the meaning of this act. Every person who shall procure or solicit any citizen or resident of this State to take out a policy of insurance in any fire insurance company or com. panies not incorporated by the laws of this state shall be deemed a foreign fire insurance agent within the meaning of this act.

FLORIDA. Section 2224, Article 3, Acts of 1895, Section 7, of the Revised Statutes.

Section 2224. Any person or firm in this State who receives or receipts for any money on account of or for any contract of insurance made by him or them, or for any such insurance company, association, firm, or individual, aforesaid, or who receives or receipts for money from other persons to be transmitted to any such company, association, firm, or individual, aforesaid, for a policy of insur ance, or any renewal thereof, although such policy of insurance is not signed by him or them, as agent or representative of such company, association, firm, or individual, or who in any wise, directly or indirectly, makes or causes to be made any contract of insurance for or on account of such insurance company, association, firm, or individual, shall be deemed to all intents and purposes an agent, or representative of such company, association, firm, or individual.

Section 2777 also defines agents and Section 2798, Article 5, defines agents of surety companies.

GEORGIA. Section 9 of an Act to Regulate the Business of Insurance in this State and for other Purposes.

Section 9. Any person who solicits in behalf of any insurance company, or agent of the same, incorporated by the laws of this or any other State or foreign government, or who takes or transmits, other than for himself, any application for insurance or any policy of insurance to or from such company, or agent of the same, or who advertises or otherwise gives notice that he will receive or transmit the same, or who shall receive or deliver a policy of insurance of any such company, or who shall examine, inspect any risk at any time, or receive or collect, or transmit any premium of insurance, or make or forward any diagram of any building or buildings, or do or perform any other act or thing in the making or consummation of any contract of insurance for or with any insurance company other than for himself, or who shall examine into or adjust or aid in adjusting any loss for or on behalf of any such company, whether any such acts shall be done at the instance or request, or by the employment of such insurance company, or of or by any broker or other person, shall be held to be the agent of the company for which the act is done or the risk is taken.

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Section 36. Any person who for compensation, or otherwise, solicits insurance on behalf of any company receiving applications for insurance of any kind whatsoever, or transmitting for a person other than himself an application for a policy of insurance to or from such company, or offers or assumes to act in the negotiation of such insurance or in any manner aids in the transaction of the business of an insurance company incorporated in this state or out of it shall be deemed an agent within the intent and purpose of this act.

ILLINOIS. Laws of 1883 relating to Fire, Marine, and Inland Navigation Insurance Companies.

The term "agent” or “ agents " used in this section shall include an acknowledged agent, surveyor, broker, or any other person or persons who shall in any manner aid in transacting the business of any insurance company not incorporated by the laws of one of the United States.

INDIANA. Section 423, Chapter 23 of the general laws applying to corporations, including foreign insurance companies. Section 359, Chapter 18, Laws of 1908, defines agents of surety companies, and Section 134, Chapter 5, Laws of 1909, defines life insurance agents.

Section 326. Any person who shall directly or indirectly receive or transmit money or other valuable thing to or for the use of such corporations, or who shall in any manner make or cause to be made any contract, or transact any business for or on account of any such foreign corporation, shall be deemed an agent of such corporation and be subject to the provisions of this act relating to agents of foreign corporations.

Iowa. Section 1750 of Code of 1897.

Section 1750. The term agent used in the foregoing sections of this chapter shall include any other person who shall in any manner, directly or indirectly, transact insurance business for any insurance company complying with the laws of this State. Any officer, agent, or representative of an insurance company doing business in this State who may solicit, procure applications, issue policies, adjust losses or transact the business generally of such companies shall be held to be the agent of such insurance company, with authority to transact all business within the scope of his employment, anything in the application, policy, contract, by-laws, or articles of incorporation of such company to the contrary notwithstanding.

KENTUCKY. Section 633 of Barbour and Carroll's Statutes.

Section 63.3. . .

Whoever solicits and receives application for insurance on behalf of any insurance company, or transmits for any person other than him. self an application for insurance, or a policy of insurance, to or from such company, or advertises that he will receive or transmit the same, or who shall in any manner, directly or indirectly, aid or assist in transacting the insurance business of any insurance company, shall be held to be an agent of such company, within the meaning of this article, anything in the policy or application to the contrary notwithstanding.

Louisiana. Section 23, Article 3, Act 105 of 1898.

Any person who solicits insurance for a consideration on behalf of any company, or transmits for a person other than himself an application for or a policy of insurance to or from such company or offers or assumes to act in the negotiation of such insurance, shall be deemed an insurance agent within the intent of this act, should he receive from the company any compensation what: soever, either for himself or any other person, partnership, or corporation, and shall thereby become liable to all the duties, requisitions, liabilities, and penal. ties to which the agent of such company is subject.

MAINE.

Section 19 of Chapter 49 of the Revised Statutes.

Section 19. An agent authorized by an insurance company, whose name is borne on the policy, is its agent in all matters of insurance; any notice required to be given to said company or any of its officers, by the insured, may be given to such agent.

MASSACHUSETTS. Section 87 of Chapter 522 of the Acts of 1894.

Section 87. Any person not a duly licensed insurance broker, who solicits insurance on behalf of any insurance company, or transmits for a person other than himself an application for a policy of insurance to or from such company, or offers or assumes to act in the negotiation of such insurance, shall be deemed an insurance agen within the intent of this act, and shall thereby become liable to all the duties, requisitions, liabilities, and penalties to which an agent of such company is subject.

MINNESOTA. Part of Section 1642, Laws of 1907 as amended in 1913 relating to valued policy and co-insurance: "Every person who solicits insurance and procures an application therefor shall be held to be the agent of the party afterwards issuing insurance thereon or a renewal thereof."

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