in which Herman L. Ekern took the affirmative and Charles F. Coffin, Indianapolis, the negative. Reports from standing committees were presented, and the following resolutions were adopted:

"We oppose the practice of twisting, proselyting, or circularizing agents of other companies by companies of the American Life Convention, their general agents or managers, for the reason that the same is unethical and unfair and is detrimental to the interests of both companies and agents.'

"

"That the use of competitive literature by companies' members of this convention be discouraged and vigorously opposed and that all companies be requested to refrain from the employment directly or indirectly of such advertising through either its home office or agents."

Officers were elected as follows: President, G. A. Grimsley, Jefferson Standard Life, Greensboro, N. C.; secretary, treasurer, and general counsel, T. W. Blackburn, Omaha, Neb.; state vice-presidents: Alabama, W. L. Moore, Southern States; Arkansas, A. B. Banks, Home Life & Accident; California, Robert J. Giles, Occidental Life; Colorado, T. F. Daly, Capitol; Florida, W. P. Douglas, Florida Life; Georgia, W. W. Reid, Empire Life; Illinois, A. M. Johnson, National, U. S. A.; Indiana, A. F. Hall, Lincoln National; Idaho, E. S. Chadwick, Idaho State; Iowa, N. M. Hubbard, Jr., Royal Union Mutual; Kentucky, W. W. Moore, Citizens National; Michigan, W. A. Watts, Preferred Life; Minnesota, J. T. Baxter, Northwestern National; Misissippi, W. Q. Cole, Lamar Life; Louisiana, C. H. Ellis, Pan-American; Missouri, James A. McVoy, Central States; Montana, H. R. Cunningham, Montana Life; Nebraska, G. L. E. Klingbeil, German American; New Mexico, George Roslington, Occidental; North Carolina, Charles W. Gold, Jefferson Standard; North Dakota, J. J. Feckler, Pioneer; Ohio, Dr. F. G. Cross, Columbia Life; Oklahoma, O. E. McCartney, Oklahoma National; Oregon, S. P. Lockwood, Columbia Life & Trust; Pennsylvania, F. A. Wesley, Standard; South Dakota, F. L. Bramble, Dakota Mutual; Tennessee, W. C. Stacy, Volunteer State; Texas, T. W. Vardell, Southwestern Life; Utah, N. G. Stringham, Continental; Virginia, C. G. Taylor, Atlantic; Washington, W. M. McConnell, Western Union; Wisconsin, W. A. Fricke, Great Northern; executive committee, J. B. Reynolds, Kansas City Life; E. W. Randall, Minnesota Mutual; Thomas L. Miller, West Coast-San Francisco Life; Henry Abels, Franklin Life; C. E. Coffin, State Life of Indiana; Harry L. Seay, Southland Life, Dallas, Tex.

The Convention has organized medical and legal sections, which hold meetings independently of the Convention itself, and have their own officers. The officers of the medical section, elected in 1915, are: Chairman F. W. Foxworthy, Indiana National Life, Indianapolis; vice-chairman, J. P. Turner, Jefferson Standard Life, Greensboro, N. C.; secretary, F. L. B. Jenney, Federal Life, Chicago. The legal section elected officers as follows: Chairman, Francis V. Keesting, West Coast-San Francisco Life; secretary, E. M. Grossman, Central States Life, St. Louis, Mo.

AMERICAN LIFE INSURANCE COMPANY, Des Moines, Iowa. Organized 1899 as the American Life Association, reorganized in 1900 as a legal reserve company; capital, $175,000. H. J. Klemme, president; A. D. Hindman, C. J. Fulton, vice-presidents; J. C. Griffith, secretary and agency manager; H. A. Bryan, treasurer and assistant

secretary; Dr. J. M. Emery, consulting actuary; L. Hezzlewood, general field superintendent; Dr. E. E. Dorr, medical director.

AMERICAN LIFE INSURANCE COMPANIES, FOREIGN BUSINESS OF. [See Foreign Business.]

AMERICAN MUTUAL

COMPANY, New York, N. Y.

Organized 1914. Charles E. Hodges, president; Thompson S. Sampson, secretary.

AMERICAN MUTUAL LIFE INSURANCE COMPANY, Lake Charles, La. Organized 1914. W. H. Stark, president; Leon Locke, secretary; S. Arthur Knapp, treasurer.

AMERICAN MUTUAL LIFE INSURANCE COMPANY, Seymour, Ind. Organized 1914. John M. Lewis, president; 0. 0. Swarts, P. A. Nichter, vice-presidents; Frank J. Voss, secretary; J. H. Andrews, treasurer; W. E. Weller, superintendent of agents.

AMERICAN MUTUAL LIABILITY INSURANCE COMPANY, Boston, Mass. Organized 1887; Russell Gray, president and manager; H. Stockton, vice-president; Donald B. Ward, secretary; H. C. Kneppenberg, Jr., assistant secretary; C. E. Hodges, treasurer and assistant manager.

AMERICAN NATIONAL ASSURANCE COMPANY, St. Louis, Mo. Organized 1912; capital, $200,000. Harry M. Still, president; A. G. Hildreth, D. L. Tasker, A. J. Sigel, Chas. E. Lane, vice-presidents; Payton C. Jones, secretary; Chas. E. Salisbury, treasurer; W. F. Smith, superintendent of agents.

AMERICAN NATIONAL INSURANCE COMPANY, Galveston, Texas. Organized 1905; capital, $250,000. W. L. Moody, Jr., president; Sealy Hutchings, vice-president; L. H. Collier, secretary; W. J. Shaw, assistant secretary; Frank Webb, treasurer; Frank H. Davis, actuary; J. F. Montgomery, superintendent of agencies.

AMERICAN SURETY COMPANY OF NEW YORK. Organized April 14, 1884. Capital, $5,000,000; surplus, March 31, 1916, $1,602,213.63. Transacts fidelity and surety business only, and has forty branches in the United States, through which over thirteen thousand local agencies report, and private telegraph wire system connects the home office and the Pittsburgh, Cleveland, and Chicago branches. The company operates in Canada and Mexico through subsidiary companies. It has paid dividends continuously since 1887; the total amount of dividends paid to date being $8,850,000, including stock dividend of $2,500,000 in 1912, and over $19,200,000 in claims has been paid. The total assets, March 31, 1916, $9,635,523.94, including modern unencumbered office building, 100 Broadway, in the heart of financial district, appraised by New York Insurance Department at $3,200,000; and high-grade investment securi

ties to the amount of $3,936,162.50. Premium receipts running now between three and four million dollars per annum, and the total premium receipts since organization have been $43,815,009.66.

Principal officers: F. W. Lafrentz, president; R. R. Brown, first vice-president; Wm. A. Brandt, secretary and treasurer; Chas. W. Goetchius, acting treasurer; Theodore Cocheu, Jr., comptroller; and Henry C. Willcox, general solicitor; directors, Henry D. Lyman, chairman; J. S. Alexander, Charles H. Allen, John Anderson, Edwin L. Blabon, Charles A. Boody, R. R. Brown, Newcomb Carlton, E. F. Carry, Clarence E. Chapman, Otis H. Cutler, Richard Delafield, James B. Duke, W. N. Dykman, Daniel Guggenheim, J. Horace Harding, Henry W. Hayden, A. J. Hemphill, F. L. Hine, R. C. Kerens, F. M. Kirby, F. W. Lafrentz, Edward E. Loomis, L. F. Loree, W. S. McCornick, A. W. Mellon, Andrew Mills, W. H. Moore, J. R. Morron, W. A. Nash, Seward Prosser, D. G. Reid, S. W. Rosendale, Lindsay Russell, John D. Ryan, J. G. Schmidlapp, Samuel S. Sharp, John Sherwin, Wm. Skinner, Robert S. Sloan, R. A. C. Smith, Valentine P. Snyder, Edward R. Stettinius, Guy E. Tripp, Theodore N. Vail, L. A. Watres, Wm. F. Whiting, Albert H. Wiggin, George T. Wilson, Bronson Winthrop.

AMICABLE LIFE INSURANCE COMPANY, Waco, Texas. Organized 1910; capital, $820,000. Artemas R. Roberts, president and actuary; A. R. Wilson, secretary.

ANDERSON ASSOCIATION OF LIFE UNDERWRITERS, Anderson, South Carolina. The association was organized in September, 1915, and the officers elected are: President, J. Walter Dickson; vice-president, J. B. Clement; secretary and treasurer, Calhoun Harris.

ANNUAL STATEMENTS, LIMIT FOR FILING. [See Statements, Annual.]

ANNUITIES. Sums payable annually either for life or a term of years. Annuities are of much larger use in Great Britain than in the United States, as a provision for possible old age. A number of American life insurance companies grant annuities, and the extent of their business is shown by the following comparative statement of payments made during the past five years.

ANTI-REBATE LAWS. Following is a list of the states which have laws prohibiting the giving of rebate of premium to the insured by life and other insurance companies or their agents.

The first anti-rebate law applying specifically to the business of life insurance was enacted by Massachusetts in 1887. The previous year, it is true, Louisiana passed a law prohibiting the allowance of rebates in insurance, but no class of insurance was named in the act; it was supposed to refer to fire insurance, and it was not until later that an opinion was given by the attorney-general of the state that its provisions were applicable to the practice of life insurance.

The anti-rebate laws of a number of the states, while at first applying only to life insurance, have been amended to include fire insurance as well as other forms of insurance in their prohibitions, and in some states the laws prohibit the sale of stock in connection with insurance, or as an inducement to insurance, and also prohibit twisting. The Indiana law defines the term rebate" to mean "anything of value, or the making of an agreement, expressed or implied, that will directly or indirectly diminish any premium below the amount specified in the policy," excepting payment of dividends under participating policies.

The Nebraska law also defines the word in the same terms practically, but also excepts "bonuses paid or allowed directly by any company upon non-participating policies which have been in force at least five years."

Anti-rebate laws are in force in the following states: Alabama, Arizona, Arkansas, Colorado, Connecticut, Delaware, Idaho, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming.

The laws of the following states prohibit the sale of stock "in connection with or as an inducement to insurance": Alabama, Ari

zona, Colorado, Idaho, Kansas, Louisiana, Maine, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Washington, West Virginia, Wisconsin, and Wyoming. In Connecticut, Illinois, Maryland, and Virginia the insurance departments have ruled that stock selling would be illegal under the anti-rebate law, and in Delaware it has been held to be illegal unless offered to all insurants of the same class alike. Georgia has ruled that such sale of stock would be contrary to public policy, and the attorney-general of New Jersey has held that option to purchase stock must be contained in the policy.

The laws of Indiana, Idaho, Maine, Nebraska, New Mexico, New York, Ohio, Oklahoma, Pennsylvania, and West Virginia prohibit the insured from "knowingly receiving or accepting a rebate." The Wisconsin law provides that " Notwithstanding any violation of this section the policy shall be valid, but the insured, having knowingly and wilfully violated any provisions of this section, shall be entitled to recover from the company only such proportion of the amount otherwise payable as the amount of the premium or premiums which have become payable, according to the terms of the policy, deducting any rebate and the value of any special favor or advantage or consideration or inducement . . . bears to the amount of such premium or premiums."

The laws of Alabama, Arkansas, Colorado, Georgia, Idaho, Louisiana, Maryland, Michigan, Minnesota, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Washington, Wisconsin, and Wyoming, prohibit the making of advisory board contracts, under which, as a rule, a certain number of policyholders were granted special advantages or considerations. Such contracts are also prohibited, under rulings of the insurance department, in Connecticut, Delaware, Illinois, Indiana, Kansas, Massachusetts, Mississippi, and Virginia. The North Carolina supreme court held in 1909 that such contracts were illegal under the law forbidding discrimination and rebates. Under the West Virginia law persons are forbidden to receive or accept any favor or advantage.'

[For full text of laws enacted prior to 1914, see Cyclopedia for 191314, and for legislation in 1915 see Cyclopedia for 1915.] The legislature of California in 1915 enacted an anti-rebate law, but the measure was vetoed by the governor.

The Kentucky legislature in 1916 enacted the following, which is Section 19 of an act creating a state insurance board and relates to fire insurance:

Section 19. No insurance company nor any agent, in connection with placing or attempting to place insurance, shall pay, allow, or give, or offer to pay, allow, or give, nor shall any person receive any rebate of premium on a policy, or any special advantage in dividends or other benefits, paid employment or contract for services, or any valuable consideration, or inducement whatever, not specified in the policy, or give, sell or purchase, or offer to give, sell or purchase, in connection with placing or attempting to place insurance, anything of value whatsoever not specified in the policy.