xxxvi   L REPORT OF THE

This public statement, alleged to have been made thus officially by the head of the Insurance Department of another State, is so totally unwarranted and so absolutely untrue that it becomes a proper subject for correction in the official manner here adopted. The policy valuations of this Department are made upon descriptive lists of all the policies in force issued by the Companies reporting to this Department, entered by each Company, upon blanks prepared by the Department in such manner as to show 'a complete description of each policy, its number, date of issue, age at issue, style of policy, style of premium and amount insured. When thus filled up, as of December 31, of each year, the correctness of the lists are sworn to by two proper officers of the Company and forwarded to the Department. The valuation thereupon made by the Actuary of the Department is inserted in a proper column opposite each policy showing its present value on the last day of the year. This process is continued each year. Changes in and additions to the lists being made and and sworn to by the proper officers of the Company for each successive valuation.

These lists are not surrendered to the companies, but as they accumulate they are bound in stout folio volumes, and are preserved as records in the Department, so that, the condition and value of any policy on the pre-ceding 31st day of December, may be seen by any person, at any time, consulting the records of the Department.

LIVE STOCK INSURANCE.

For about thirty-five years, since the passage of chapter 463 of the Laws of 1853, there has been on our statute books a general law providing for the incor-