Details of the operation of the exchange will be reported
to the subscribers annually. Service of process may be
made upon the Insurance Commissioner or upon the
attorney--in-fact. Losses are adjusted by salaried repre
sentatives of the exchange.
The securities are in the custody of an advisory board,
consisting of five subscribers, to be elected the first Mon-
day in March of each year.
Advisory Board.— J. IV. Cherry, president; H. B. Hill,
president of the Mutual Life of Illinois; G. C. Rockwood,
vice-president of the Mutual Life of Illinois; H. G. Rock-
wood, vice-president of the Commercial Health & Accident
Company. and F. M. Feder, director of the Commercial
Health and Accident Company.
Its statement as of December 31. 1919. is as follows:
Admitted cash assets: Cash in banks and office, $8,713.68;
premiums or deposits outstanding not over three months
due, $6,018.45; total cash assets, $14,732.13.
Liabilities: Losses in process of adjustment. $1,596.49;
due attorney-in-fact for administration expense, $4,021.39;
total liabilities. $5,617.88: net cash surplus, $9,11425;
Cash laconic. 1919.-Premium deposits written, gross.
$48.206.65: total cash income, $45.206.65.
Caste Disbursements, 1919.—Net losses paid, $9.784.28;
paid to attorney-in-fast for administration expense, $2.-
948.40: commissions. $24,288.97 ; other expenses, $2,489.74;
total cash disbursements, $39,511.30.
In connection with this report, see important article in
troducing this section.