said the agent is worthy of his hire, and the earnest agent earned every dollar he received for compensation. A good agent must not only be a good inspector, but he must be familiar with hazards and schedules, that he may properly serve the insured, and he added the agent must be recognized as an important factor in the fire insurance business, and he must also be recognized as an important item of expense to the American public." He regarded the attacks on the expense ratio of insurance companies as unwarranted and expressed the view that present rates, generally speaking, will admit of no further reductions except for actual improvements in construction, protection, and elimination of fire waste. The burden of taxation he pointed out added to the expense account, and was larger than the business should bear.

The annual address was delivered by Clarence A. Ludlum, vicepresident of the Home Insurance Company, New York. and his subject was "Action and Counteraction." The speaker, while observing that the business was unhappily more of a target for governmental regulation than ever, said, it was not his purpose to preach to the public, but rather to point out what seemed a defect and disadvantage in the conduct and attitude of underwriters. It was not intended to advocate the submergence of individuality, deprecate enterprise, nor suggest the suppression of administrative discretion, but he added:

"There have been many instances in the quite recent history of our business of disturbances created (doubtless without intention, but which should have been foreseen) by cross-firing on the part of individuals or individual interests. Laws and rulings which are admittedly detrimental and of injurious effect, or would be, if they had not been opposed at the cost of much trouble and with much difficulty, have been suggested or instigated by someone or some faction in our own ranks, inspired by a mistaken and short-sighted irritation, the desire to remedy some isolated or local condition, or to satisfy some fancied individual grievance. This has resulted in confusion, loss of constructive energy, impairment of the general good, and is a source of weakness."

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"Narrow prejudices and jealousies should be laid aside," said the speaker," and a just and justifiable coherence and common purpose be pursued," and speaking of the changed relations between company and agent, he said, such changes had produced effects that had been detrimental to the interests of both company and agent, chiefly because it had created the impression that those interests are separate or even opposed. Such an idea was false, and as such pernicious, and had occasioned serious trouble. Agents had started something by invoking state interference and too late had realized that some things are easier to start than they are to guide, limit, or stop when once started. Continuing the speaker said:

"Agents and companies have common causes of mutual concern, which may profitably engage their activities to an extent making it, to say the least, unnecessary to make an exhibition of a household divided against itself.' The fire insurance business must continue to be done and the American agency system is a vital and necessary part of it, and it is earnestly to be hoped that no different methods need be developed, nor new traditions created. The present speaker feels a comforting confidence that such condition will not arise; that the controlling intelligence of the body of agents will undoubtedly avert it by a recognition of the fundamental principles and facts of their relationship, and a realization that whatever injures the business or hampers the operations of the companies must necessarily involve the agents, and vice versa."

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After stating that the business must be influenced by changing economic conditions, and that none could afford to be indifferent to its reputation or its general well being, the speaker said in conclusion:

"All of us, large or small, carrying on extended or restricted operations, must suffer more or less from the absence of convinced favorable opinion of our institution on the people's part and the lack of well informed public confidence in the rectitude, the prevalent uprightness and the generally consistent qualities of fire insurance companies. Obviously this prejudicial regard cannot be set right if we, on our own part, exhibit something of the same thing in reference to each other or to our own institutions. There have been in the recent past forcible and fortunate illustrations of team work and capable, broad-minded co-operation by and among the various forces of our business. Local agents have not withheld, but have bestowed freely and actively most effective services in more than one emergency; field men have done some excellent work, unselfishly and disinterestedly allying themselves to aid in accomplishing measures designed for the general good; managers and officials have given generously of their time, ability, and energy to promote the common welfare, correct misapprehension and error and allay mistaken prejudice, and substantially universal action in the common behalf has been manifested to great advantage on many occasions through organized means for open, legitimate, and altogether defensible procedure to those ends." Let us strive to withdraw our attention from the particulars wherein we may happen for the time being to differ, and rather contemplate and appreciate the needs and interests wherein we commonly share, refraining from discordant manifestations, open contests, or reference of private quarrels to public arbitrament."

Other papers read were: "Insurance and the Banker," George M. Reynolds, president Continental and Commercial National Bank, Chicago; The Value of Insurance Association," Ernest Palmer, Chicago assistant counsel National Board of Fire Underwriters; "The Power of Friendship," John Fitzgerald, Indiana state. agent Queen Insurance Company.

Reports from the secretary, treasurer, librarian and from the library committee, and the committee on scholarships, were presented, and officers were elected as follows: President, A. A. Maloney, Kansas City, Mo., state agent, Continental; vice-president, A. E. Henry, Detroit, special agent, Northwestern National; secretary, Guy A. Richards, Chicago, special agent, Ohio Farmers; treasurer, Chas. L. Hecox, Chicago, western manager, Ohio Farmers; members board of directors, William M. Higley, Minneapolis, Hanover Fire; J. K. Lesch, Kansas City, Home; and B. L. West, Chicago, Insurance Company of North America.

FIRE UNDERWRITERS' ASSOCIATION OF THE NORTHWEST, LIBRARY OF THE. For many years after the formation of the association in 1871 books and pamphlets given to it by members and friends accumulated, but, no money being appropriated for their caretaking, they were stored wherever it might be convenient and were practically inaccessible to members. In time the annually published proceedings of the association meetings, volumes of insurance periodicals, and gifts of their insurance libraries by deceased members were added. Three or four years prior to 1803 these treasures were deposited in the basement of the Woman's Temple in Chicago, under the custodianship of Mr. R. M. Buckman.

In the autumn of 1893 Mr. R. M. Buckman, representing the association, made efforts to secure an appropriation and the establishment of a permanent library room, and at the annual meeting

of the association that year a committee composed of Messrs. George W. Hayes, H. C. Eddy and George W. Adams, together with the president and secretary, was appointed with authority to act in the matter. It resulted in the renting, for a term of years, of Room 225 in the Home Insurance Building in Chicago, which was appropriately fitted up with library furniture, and the books and other literary belongings of the association were placed therein. In 1907 the library committee deemed it necessary, owing to the fact that the books of the association were accumulating, but of little or no benefit to the members, to secure a room or rooms where the library could be installed and at the same time be made the headquarters for members from out of town. With this purpose in view, Mr. John Marshall, chairman of the library committee, secured quarters in the Rookery Building, and in October, 1908, the library was moved and a librarian placed in charge. At this time the library contained less than 900 volumes and the books were more of historical interest than otherwise. In 1911, on the completion of the new Insurance Exchange Building, the Chicago Board of Underwriters granted a space on the twenty-first floor for the use of the combined libraries of the Fire Underwriters' Association of the Northwest, the Fire Insurance Club of Chicago and the Board of Underwriters. It is now located in the heart of the fire insurance interests and easily accessible to students of the business. From a comparatively small beginning the library has now some 1,500 volumes besides numerous pamphlets and files of current magazines. The library is open during office hours every business day of the year and is in charge of Miss Abbie B. Gantz, librarian.

FIRE UNDERWRITERS' ASSOCIATION OF THE PACIFIC, composed of general and special agents, managers, assistant managers, and independent adjusters of fire insurance companies doing business on the Pacific coast and having its headquarters at San Francisco, was organized in November, 1875, and was the outgrowth of the Virginia City, Nev., fire of October, 1875. [For an account of the formation of this association see the Cyclopedia of Insurance 1893-94.]

The fortieth annual meeting of the association was held in San Francisco, February 8 and 9, 1916. President Blanchard presided and in his address briefly reviewed the work of the association for the year, and conditions in the field, and taking thought of the discussion of "preparedness," said there would be no question of the necessity of preparedness in the business of fire insurance. He saw in the campaign of publicity only a concerted move toward preparedness, and endorsed as well as suggested, the extension of the many movements to instruct the public in fire prevention.

Reports from the secretary and treasurer, librarian, the executive committee, and special committees were presented and papers were read as follows: "State Fire Insurance," McKee Sherrard, Yorkshire; "The Relationship Between Mercantile Agencies and

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Fire Underwriting," Edward J. Hollister, Bradstreets, New York; Making Moving Picture Negatives," Weldon D. Whelan, Fireman's Fund; Use and Occupancy Insurance on Pacific Coast," George E. Townsend, Etna; The Ideal in Fire Prevention, and How to Attain It," J. H. Schively, Washington Surveying and Rating Bureau; "Our Extravagances," T. H. Williams; Development of Automobile Insurance," C. R. Stone, Phoenix of London; "Loose Adjustments,' Thomas H. Anderson, Liverpool and London and Globe; Underwriting by Schedule," Edwin Parrish, Niagara; Portland's First Year in Real Fire Prevention Work, What Has Been Accomplished, How, and Why," Jay W. Stevens, Fire Marshal, Portland, Ore.; Modern Map Methods," Henry J. Morrison, London and Lancashire; "Relation of Insurance to Banking," Francis W. Wolfe, Assistant Cashier, Bank of California; Roundup of an Arson Gang, and the Confessions of a Fire Bug," J. T. Stealey, Springfield Fire and Marine; Co-operation," McClure Kelly, Yorkshire and Northern of New York.

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Officers were elected as follows: President, Washington Irving, Phoenix of London; vice-president, W. P. Porep; secretary and treasurer, Calvert Meade; assistant secretary and librarian, J. P. Moore.

GENERAL,

FIRE UNDERWRITERS' ASSOCIATIONS, SECTIONAL AND STATE. The list of associations of fire underwriters is a long one, and includes associations that are national in scope, also several sectional associations, and numerous state and local organizations. Their objects are as diversified and range from supervising and rating organizations to those that are purely social and educational in their activities. National, sectional, and state associations will be found in alphabetical order in this volume. [See also Cyclopedia for 1913-14, and earlier volumes.]

FIRE UNDERWRITERS' CLUB of Cincinnati. [See Cincinnati Underwriters' Association.]

FIRE UNDERWRITERS' FIELD CLUB OF OHIO. [See Ohio Field Club.]

FIRE UNDERWRITERS' INSPECTION BUREAU OF SAN FRANCISCO. This association was organized in November, 1885, with the election of the following officers and directors: Charles A. Laton, president; Robert Dickson, vice-president; Wm. J. Landers, secretary and treasurer; William Macdonald, Rudolph Herold, Jr., George Easton, E. E. Potter, and the officers, directors. The present officers are: President, Bernard Faymonville; vicepresident, F. J. Devlin; secretary and treasurer, Clinton Folger. F. H. Porter is the manager of the bureau.

FIRE UNDERWRITERS, NATIONAL BOARD OF, [See National Board.]

FIRE UNDERWRITERS' UNIFORMITY ASSOCIATION was organized in 1906 as the National Association for Uniform Inspection Reports, and adopted the present name at the annual meeting in 1907. The purposes of the association are to assist companies in securing uniform inspection reports. The first officers elected were: President, Wm. A. Stoney, New York; vicepresident, H. C. Henley, St. Louis; secretary and treasurer, R. Walter Hilliard, Boston. The present officers, elected at the annual meeting in New York, May, 1916, are: President, E. B. Hatch, Chicago; vice-president, A. G. Patton, Philadelphia; secretary and treasurer, William S. Boyd, Chicago, Ill., 175 W. Jackson Blvd.

FIRE UNDERWRITERS' UNION. [See Eastern Union.]

FIRST BULGARIAN INSURANCE COMPANY, Bulgaria. Snow & Thieme, United States managers, New York, N. Y.

FIRST NATIONAL FIRE INSURANCE COMPANY, Washington, D. C. Organized, 1912; capital, paid up, $877,275. Robert J. Wynne, president; John E. Smith, secretary and managing underwriter.

FIRST REINSURANCE COMPANY, Hartford, Conn. Organized 1912; capital, $500,000. Carl Schreiner, president; Heber H. Stryker, secretary.

FIRST RUSSIAN INSURANCE COMPANY, St. Petersburg, Russia. Paul E. Rasor, United States manager, New York.

FITCHBURG MUTUAL FIRE INSURANCE COMPANY, Fitchburg, Mass. Organized 1847. Lincoln R. Welch, president; B. J. Alley, secretary.

FLORIDA ASSOCIATION OF LOCAL FIRE INSURANCE AGENTS was organized at a meeting held in Tampa in November, 1905. Officers were elected as follows: President, Walker Anderson, Pensacola; secretary and treasurer, Marion Prince, Tampa. The present officers elected at the annual meeting in April, 1916, are: President, H. J. Drane; secretary and treasurer, H. H. Root, Plant City.

FLORIDA FIRE PREVENTION SOCIETY was organized in July, 1912, and officers were elected as follows: President, George W. Mills; vice-president, Frank T. Evans; secretary and treasurer, J. H. Talley. The present officers elected in 1915, are: President, Arthur Lane; vice-president, Rutledge Holmes; secretary and treasurer, John A. Stevenson, Jacksonville.

FOREIGN FIRE INSURANCE COMPANIES - RECEIPTS FROM AND REMITTANCES TO HOME OFFICES IN 1915. [See Receipts from and Remittances to Home Offices of Foreign Fire Insurance Companies.]