bluuebunny/crossref_metadata_2025 huggingface dataset:
Some points arising in a net premium valuation.
Authors: Suttie T. R.
Published: August 2016

For many years it has been fashionable to assume that a published Net Premium Valuation is merely a piece of window-dressing designed to reproduce the results obtained by an internal Bonus Reserve Valuation carried out for the information of the office only. It may be as well, therefore, to start by giving some of the reasons which make it desirable to re-examine a few of the problems which arise in a Net Premium Valuation, viz.:

(1) The Examiners require our students to have a thorough knowledge of the Net Premium Valuation Method, both as regards the technique of its application and the results which it can be expected to produce.

(2) A Net Premium Valuation probably forms the main instrument for measuring the surplus to be distributed to policyholders in Industrial Funds.

(3) Even if the Net Premium Valuation were no more than window-dressing, the published results have to agree with those obtained by the internal Bonus Reserve Valuation and a thorough understanding of the method is necessary to ensure this.
The standard deviation of the distribution of sickness
Authors: Beard R. E.
Published: August 2016

The standard deviation of the distribution of sickness is a statistic that appears to have been ignored by British Actuaries, with the exception of Sir G. F. Hardy who derived an approximation in his well-known Essay (J.I.A.Vol. XXVII, 1889, p. 245). By considering the graduated results of the A.O.F. Experience 1871–75 he concluded that the mean deviation of expected sickness was approximately 2√(expected weeks of sickness).

This note has arisen from some investigations being made into the statistics of non-life business, from which it appeared that the results obtained could be used to place the derivation of the standard deviation of expected sickness on a more satisfactory basis, and it is being put forward in the hope that some member with access to the necessary statistics will be able to make a more detailed study of this problem.
Statistical estimation (continued)
Authors: Solomon L.
Published: August 2016

A point estimate may provide, in logic or in practice, an unsatisfactory answer to some problems, and the additional requirement then arises for estimating limits within which a parameter is thought to lie. An elementary example of such an ‘interval estimate’ occurred in Example 2(c) of § 1, and we may recall the custom of quoting the measurement of a physical constant in such a form asg= 32 ± 2 units—which is an assertion, made according to some convention, that the true value of the quantityglies between 30 and 34 units. We consider below some of the criteria which have been suggested for interval estimation, some methods of satisfying them, and a few of the results to which they lead.
Tests of significance in the simple regression problem
Authors: Wishart John
Published: August 2016

The orthogonal transformation used in a previous paper(1) to derive the distribution ofx2has its counterpart in a double orthogonal transformation which can be applied to a variableydependent on another variablexin order to deduce the known tests of significance in the simple regression problem. The general theorem is due to R. A. Fisher (2), and the particular transformation now used is a special case of the problem considered by Vajda (3) in the multivariate case. Attention is also directed to papers by Bartlett (4) and Elfving (5). In the present problem the use of two successive transformations is of interest in showing what happens, and in providing a relatively elementary proof of the known results.
Some investment implications of changes in companies' capital and structure
Authors: Pegler J.B. H.
Published: August 2016

The purpose of this paper is to discuss briefly the implications for investors of the commoner forms of alterations in a company's capital structure, in the rights of its shareholders, or in the amount of its loan or issued capital, which may occur in practice. The object is to consider general principles only, and no attempt will be made to deal with all possible situations or with the many exceptions which may arise as a result of special rights or provisions in the articles or deeds governing the issues concerned.

Before discussing the implications of particular cases the main features of different types of stock-exchange investment and some broad considerations which govern their value to investors will be briefly reviewed.
A method of calculating annuities with a guaranteed term
Authors: Hymans J. C. S.
Published: August 2016

In a recent pension fund valuation, which involved splitting the fund between two groups of members in proportion to the net liabilities, the writer found that he had to calculate a large number of annuity values for a variety of ages between 60 and 80 at several rates of interest with guarantee periods ranging from 1 to 10 years. In view of the nature of the valuation a broad adjustment was not good enough, and the problem arose of how to reduce the calculations to a minimum and yet retain an acceptable degree of accuracy in the approximation. It is thought that an account of the method which was evolved may be of interest and of use to readers of theJournal.
Note on double taxation relief
Authors: Barton B. H.
Published: August 2016

The purpose of this note is to consider in a simple way the effect of double taxation relief on overseas investments, with special reference to those of Life Offices transacting business in the United Kingdom. This deserves consideration in practice, because under certain circumstances the spreading of Life Office investment in equities between equities of companies resident in the United Kingdom and companies overseas may be more profitable than confining investments to those expressed in the currency of the United Kingdom. The amount of the relief allowed is of course material in determining how profitable such spreading of investments may be. It is not intended to deal with the many additional considerations such as, for example, the possibility of changes in exchange rates, which have to be borne in mind when investing overseas.
A standardized bowling ratio
Authors: Johnson N. L.
Published: August 2016

When it comes to cricket we are all statisticians. Indeed, a daily paper has only to use the heading ‘The Averages’ for every (male) reader to understand that he will find below the batting and bowling averages of first-class cricketers. Most schoolboys take a keen interest in these figures and many soon begin to realize that they are not an altogether satisfactory means of comparing the prowess of individual players. It is noted, for instance, that an opening batsman has, on the whole, more dangerous bowling to cope with than one who goes in fifth or sixth wicket down; and that a bowler who secures cheap wickets among ‘tail-enders’ is flattered as compared with an opening bowler who has very different opposition.

The sales of Wisden bear ample evidence of the fascination of cricket records. Sir William Elderton (1945) and George H. Wood (1945) have published enlightening analyses of batsmen's performances, which are but samples of the delights to be found in browsing among these records. Not only does such work throw new light on the published figures, but it often leads to clearer ideas on statistical analysis and interpretation in general. Understanding of the effects of statistical analysis is much facilitated by the relatively clear-cut nature of the data, which, despite ambiguities and unrecorded factors such as pitch, weather and tactics, are less subject to confusing factors than most statistical data.
The Meaning of Probability
Authors: Perks Wilfred
Published: August 2016

The following note was written in 1949 as a supplement to the official course of reading for students preparing to take Part IA of the Institute's examinations and is issued in duplicated form to students by the Actuarial Tuition Service. The editors feel that the note may be of interest to many who, like themselves, did not have the opportunity of reading it in the course of their studies; those more recent students who have read the note may like to refresh their memories.

Mr Perks has kindly given permission for publication, and wishes to express his thanks to H. W. Haycocks and G. V. Bayley for the helpful criticisms and suggestions that he received from them.
Social Insurance Overseas
Authors: Gilder R. C.
Published: August 2016

Social insurance is becoming increasingly important in the economic and social life of many countries. In several the expenditure on insurance benefits has been estimated to be over 10% of the national income. About forty-five nations now have insurance schemes in which the state plays a part, and about seventy have compulsory private or state ‘workmen's compensation’ insurance. Others have assistance schemes. There is continual expansion in the number of countries operating schemes and in the scope of these schemes.

In this paper a summary is given of the types of benefit commonly found, and the methods used to assess contributions, and financial systems in use, are then discussed. Although Great Britain was one of the pioneers of social insurance, very few schemes have been modelled on ours and it is instructive to examine the differences.
The Actuary in South Africa
Authors: de Smidt H. E. , Schermann H. , Williams D. W. , Rodger G.
Published: August 2016

The history of the actuarial profession in South Africa starts, as far as is known, during the last decade of the nineteenth century when three actuaries arrived in the Cape Colony from the United Kingdom. Two of these took up positions with the two South African life offices which were then in existence and the third became Government Actuary to the Cape Colony. By the time the Union of South Africa was established in 1910, four more actuaries had arrived from the United Kingdom, and a further four had arrived by 1920. Some of these gentlemen established permanent homes in this country, while others returned overseas after varying periods of time. It was no doubt due to these early beginnings that the actuarial homes of South African actuaries are today London and Edinburgh.

The first South African-born actuary qualified as a Fellow of the Faculty in 1921, and since that time increasing numbers of South Africans have become qualified, mostly as Fellows of the Faculty.
Some Aspects of Electronic Data Processing
Authors: Johnson P. D.
Published: August 2016

The objects of this paper are to consider how a life office in the United Kingdom might approach the question of using electronic data processing equipment and to indicate some of the problems which will be encountered—without, I am afraid, supplying all the answers. There are in fact very few questions on this subject to which a general answer can be given. Although a good deal can be gained from exchanging information and ideas, it will ultimately be up to each individual office to solve its own particular problems.

Many of the difficulties one meets in discussing this subject arise from the widely differing circumstances in the various offices. Each person naturally tends to approach the problem from the point of view of his own office, and consequently suggests different answers partly because he is considering different questions. I have therefore felt it desirable to limit the scope of the paper, and since there are important differences between the offices which transact industrial assurance and those which do not, I propose to confine my attention to the problems of an industrial/ordinary office. A further limitation is that group business is not discussed.
The Market Price of Convertible Loan Stocks.
Authors: Moody P. E.
Published: August 2016

It is not a new idea for debenture or loan stocks to be issued with an option to the lender to convert the whole or part of his holding into ordinary shares at fixed prices on certain future dates or during certain periods. There has in recent years been an increase in the number of these stocks available to the British investor and there is also a substantial number that have been issued in the U.S.A. and Canada. A typical example is the Bowater Paper Corporation Limited 5¾ % Convertible Unsecured Loan Stock 1978–82. In July 1959, holders have the right to convert each £50 of loan stock into twenty-one £1 Ordinary shares; in July 1960, into twenty Ordinary shares; and in July 1961, into nineteen Ordinary shares. There are no conversion rights after July 1961 and any stock not converted by that date will remain as a normal unsecured loan stock redeemable in the period from 1978 to 1982.

The existence of this option is, of course, attractive to the investor and this is reflected in the market price of the stock. The problem is how to determine the portion of the market price that represents the cost of the option. Of the many features that, no doubt, affect the position, the most significant seems to be whether the option is remote or not.
Immunization
Authors: Wallas G. E.
Published: August 2016

This subject can appear difficult, but the main idea is delightfully simple. Let us consider an example. Suppose that a life office has issued policies at premiums based on a certain rate of interest, investing in Stock Exchange securities the premiums received from year to year, less claims, and that after a time the rate of interest rises permanently. The market value of the investments will fall and the office will lose if they have eventually to be sold, but will gain to the extent that future premiums can now be invested on more favourable terms. The gain is fixed but the loss will vary according to the redemption dates of the assets, since the longer the date, the greater the fall in value. Immunization consists in selecting investments such that the loss balances the gain. An alternative way of looking at it is on the basis of present values. The values of the assets on the one side of the balance sheet, and the net liabilities on the other, will both fall if interest rates rise. We want them to fall by the same amount, and as our liabilities are fixed, we must seek to achieve that result by a suitable choice of assets.
The Expected Yield of Ordinary Shares
Authors: Hemsted J. R.
Published: August 2016

The assessment of ordinary shares is at present the subject of intense activity. A full-scale professional analysis of a particular share can, however, be a most formidable document and one which does not produce the answer to the question ‘What long term return can I expect from my investment?’ On the other hand a simple statement of dividend cover and dividend yield at the current price is clearly insufficient to decide on the merits of a share.

This paper describes a method of assessing ordinary shares in terms of ‘expected yield’, i.e. the compound interest return which a long-term buyer would expect to obtain from his investment, and includes a note on a simple way of adjusting a company's published rates of dividend and earnings to produce a consistent growth record suitable for use in estimating the expected yield.
A Quadratic Programming Formulation of the Portfolio Selection Model
Authors: Wegner P.
Published: August 2016

1. Kennedy & Howroyd (1956) have discussed the application of the Lagrangian multiplier technique to actuarial problems. This technique permits the analytical solution of constrained optimization problems, where both the function to be optimized and the constraints must satisfy stringent analytical conditions. In particular, the first derivatives of all functions must exist.

When constraints comprise inequality as well as equation restrictions, as is the case in linear and non-linear programming, then the conditions required for the Lagrangian multiplier technique do not hold. It was therefore found necessary to develop a new body of techniques, known as mathematical programming techniques, for the solution of constrained optimization problems involving inequality constraints.
Some Recent Developments of Actuarial Interest in Africa.
Authors: Corby F. B.
Published: August 2016

In February 1957, R. G. Mallett presented a paper on behalf of four South African actuaries entitled ‘The Actuary in South Africa” (J.S.S.14, 4). The object of this paper is to describe some of the developments in South Africa since that paper was presented, and also to describe briefly the conditions and the problems with which actuaries have to deal in the Federation of Rhodesia and Nyasaland and in the East African territories Kenya, Uganda and Tanganyika. The majority of actuaries working in South Africa are concerned in some way with the administration of business in these countries, as are actuaries of British companies which operate there either direct from the United Kingdom or through a branch office in Johannesburg or Cape Town.
The Remuneration of Industrial Assurance Agents
Authors: Stampfer N.
Published: August 2016

1. The level of real earnings in the insurance industry, as in most others, has increased considerably since the end of the war. The problems raised by this fact are of vital interest to the actuary, since the adequacy of his premium scales and the maintenance of bonus rates depend on expenses being contained within reasonable limits. The total amount of agency remuneration may be determined in the long run by forces outside the actuary's control, but he can have considerable influence on its structure. The purpose of this note is to set out the principal methods of remuneration at present in use and to suggest some modifications of the incentive element which might be of advantage to the offices and the policyholders without harming the interests of the agent.
Retirement and Death Benefits for Employees of an International Organization.
Authors: Rogers E. F.
Published: August 2016

This paper is concerned primarily with the principles underlying the planning of retirement and death benefits for the employees of an international organization. The development of pension systems throughout the world is so diverse that it would scarcely be practicable within the limits of digestibility to present a comprehensive factual survey and no attempt is made to do so. The paper is confined strictly to a consideration of benefits payable at normal retirement age or on death, and ancillary benefits such as invalidity pensions are not discussed, except for occasional references when survivor and invalidity benefits are closely linked.
Equity Investment and Participating Life Assurance
Authors: Barton C. E.
Published: August 2016

1.1. The most significant development in the last decade so far as participating life assurance in the U.K. is concerned has been the increasing proportion of the funds invested in equity investments, i.e. ordinary shares and property, and the marked rising trend in the income from such investments associated with an even greater overall rise in their market values although there have of course been periods during which market values have fallen substantially. The fact that overall there has been a much greater rise in market values (as measured in the case of ordinary shares by Stock Exchange prices) than in dividends reflects the change from the situation up to 1959 when the dividend/price ratio of ordinary shares was greater than the yield on long term gilt-edged securities, the difference being regarded as a risk premium to cover the possibility of the current level of dividends not being maintained. Since that time the position has been reversed, the dividend/price ratio being less than the long term gilt-edged yield; this difference, known as the ‘reverse yield gap’, arises because the market value discounts expected future increases in dividend.
Maintaining Life Office Records—a Computer Experiment.
Authors: Williams A. J.
Published: August 2016

There is now no doubt that electronic computers have a wide application in the insurance industry. The main controversy during the next few years is likely to be over fields of application: we find ourselves in the position of a child who, having been presented with a costly and elaborate paint-box, looks around in trepidation for something to adorn which will not turn out to have been irreparably damaged by his efforts. The purpose of this paper is to describe the attempt of one life office, transacting ordinary life business, to sketch a preliminary outline before committing itself to the costly process of wholesale interior decoration.

The dispute over fields of application has already been given a rousing send-off by S. Benjamin's assertion that ‘the emphasis on data processing applications… has been an unfortunate mistake’ (Computers and Actuarial Science,J.S.S.17, 93). This paper will be concerned exclusively with such applications; however, it is hoped that this concern will not be regarded as retrogressive. It so happened that the investigation described here developed naturally from existing data processing methods within the office.
Yields on Redeemable Securities subject to Capital Gains Tax
Authors: Bizley M. T. L.
Published: August 2016

The imposition of a tax on capital gains invites enquiry into the effect on yields of redeemable fixed-interest securities purchased below their redemption prices. Attention has hitherto been focused on two yields in connexion with such securities, namely the yield ignoring tax, and the yield (net, or ‘grossed-up’) allowing for tax on interest payments but not on the capital gain at redemption date. Henceforth a third yield must also be considered, namely the yield (again net or ‘grossed-up’) allowing for tax on both the interest payments and the capital gain. The object of this note is to demonstrate certain relationships between these three yields, where the rate of tax payable on interest payments is assumed to be the same as that payable on the capital gain; otherwise the concept of a grossed-up net yield becomes ambiguous, if not meaningless.
The Effect of the 1965 Finance Act on General Insurance and Ordinary Life Assurance Business.
Authors: Rowland W. R.
Published: August 2016

This paper is not intended to be a fully comprehensive survey of the taxation of insurance business. Rather it is meant to highlight some of the aspects of the taxation of this business which have been affected by the 1965 Finance Act and which should now, I think, be influencing our thinking as regards the transacting of insurance from both the shareholders' and the policyholders' point of view. Despite the splendid efforts of both the Life Offices' and British Insurance Associations during the past year, not all these changes have had the publicity which might have been expected after a normal Finance Act. I have dealt with general insurance and ordinary life assurance separately and, although the paper is written from a proprietary office's point of view, most of it is equally applicable to a mutual office. Neither have I dealt specifically with industrial life business, but I believe that most of the paper applies to this as well.
Modern Methods of Costing Insured Pension Schemes
Authors: Snelson R. E.
Published: August 2016

1. In the past, concepts of funding and methods of costing have frequently been discussed in papers submitted to the Institute and the Students' Society usually with particular emphasis on selfadministered funds. There is still scope for further thought on the subject of funding methods and it is hoped that this paper will provide an opportunity for further discussion with particular reference to insured schemes. Life offices are not in the same position as consulting actuaries since their basic function is to insure the benefits required rather than to give professional advice. At the same time they have a responsibility to ensure that their costing methods are basically sound and that the issues involved are not misrepresented to their prospective and current policyholders. In recent years there has been a tremendous demand for final salary arrangements using the controlled funding system of administration but little attempt has been made to codify the principles which ought to be followed in making cost estimates.
Pension Preservation
Authors: Escolme A. R.
Published: August 2016

1. A great deal of time and energy has been spent over the last twelve months or so on the Government's proposed 1972 State scheme. And rightly so, for the financial implications are substantial while the problems of advising employers and trustees on how or to what extent to adjust their occupational schemes, and on how to operate them thereafter, are formidable.

2. As a result, however, there is perhaps a danger of not enough attention being paid to the proposed simultaneous legislation for the preservation of pension rights. The object of this paper is to air some of the problems related to pension preservation and its implications.

Some definitions

3. The Department of Health and Social Security's latest summary of the Government's three 1969 Social Security White Papers (Cmmd. 3883, 4124 and 4195) were, I suspect, prepared primarily for the benefit of members of the two Houses of Parliament. It seems that many of them have had some difficulty in understanding the complexities of the new earnings related pension proposals. Certainly the Government's spokesman in the House of Lords found quite a few difficulties in presenting the White Paper on abatement to that body.
Recent Changes in the Tax treatment of Occupational Pension Schemes
Authors: Day M. J.
Published: August 2016

In February of this year (1970) the Inland Revenue published a memorandum giving details of changes they propose to make in the tax treatment of occupational pension schemes. Although these proposals in certam instances were dependent on the existence of the previous Government's National Superannuation Scheme, the Finance Act, 1970, in which the legislation to introduce the changes was incorporated, contains no reference to this Scheme. In the Finance Act, the conditions for automatic Inland Revenue approval are more severe than those announced in the February memorandum The Act does, however, give the Inland Revenue wide discretion to relax these stringent conditions. The Inland Revenue have indicated that they will use these powers of discretion to implement all the proposals in their February memorandum ignoring any reference to the now defunct National Superannuation Scheme.

This paper has been based on the Finance Act, 1970 and the Inland Revenue memorandum. However, these documents do not clarify all the points involved and, until the Inland Revenue issue their practice notes, as they intend to shortly, we cannot be certain how the changes will apply in all cases.
Random Walks and Investment Theory
Authors: Praetz Peter D.
Published: August 2016

This article discusses the random walk hypothesis, examines some of the evidence that has been put forward to support it, and draws some implications for the theory of investment analysis. There seem to be only three references to the random walk hypothesis in U.K. actuarial literature—Weaver and Hall (1967), Hemstead (1969) and Moore (1972), all of whom discuss it very briefly. The vast majority of the research in share prices, portfolio analysis, etc. has been performed in the U.S.A., but this article will attempt to discuss this problem in the light of current U.K. research, as well as its application to maturity guarantees for equity-linked policies.
The Albian-Cenomanian (Lower Cretaceous-Upper Cretaceous) boundary in Texas and northern Mexico
Authors: Young Keith
Published: August 2016

As first designated by Böse, the Albian-Cenomanian (Lower Cretaceous-Upper Cretaceous) boundary in northern Mexico and Texas is selected at the base of the ammonite zone ofPlesioturrilites brazoensis(Römer). This boundary seems to best agree with boundaries selected for North Africa and Europe, but in North America it may not be the optimum boundary for paleontologists working with foraminiferans.
The first Oligocene mammal from New Mexico
Authors: Lucas Spencer G.
Published: August 2016

Oligocene landscapes of New Mexico were dominated by andesite stratovolcanoes and resurgent domes of ash-flow tuff (ignimbrite) cauldrons (Smith et al., 1985). This pervasive volcanism produced volcanic and volcaniclastic rocks that have been neglected by vertebrate paleontologists, so that, until now, no Oligocene vertebrate fossils have been discovered in New Mexico. This documents the initial results of vertebrate paleontological investigations of Oligocene rocks in New Mexico, a lower jaw of the oromerycid artiodactylMontanatylopus matthewi, the first Oligocene mammal from the state. In this paper, CM = Carnegie Museum of Natural History and UNM = University of New Mexico.
Calicovatellus petrodytes, a new genus and species of primitive vatelline diving beetle (Coleoptera: Dytiscidae: Hydroporinae: Vatellini) from the Miocene Barstow Formation, southern California, USA
Authors: Miller Kelly B. , Lubkin Sara H.
Published: August 2016

Relatively few fossil dytiscids have been described. This is unfortunate since fossils can provide useful phylogenetic and evolutionary information including unique character combinations not present in extant taxa and minimum ages for divergences. However, even when fossils are found, important characters are often not visible since they may be poorly preserved or obscured. The fossil insects present in calcareous nodules from the Miocene Barstow Formation of the Calico Mountains in Southern California are exceptionally well preserved (Palmer, 1957). The original organisms are replaced by silica or other minerals and when the nodules are dissolved in formic acid, the three-dimensional fossil can be retrieved from the resulting residue. These nodules have yielded a wide variety of fossils, including larvae of the dytiscid species Schistomerus californense Palmer, 1957 and numerous other terrestrial and fresh-water arthropods (Palmer, 1957). The purposes of this paper are to describe a new dytiscid genus and species from an exceptionally well-preserved specimen from the Barstow Formation and to present a hypothesis of the phylogenetic placement of the new taxon.
Evolution of the late Ordovician orthid brachiopod Gnamptorhynchos Jin, 1989 from Platystrophia King, 1850, in North America
Authors: Jin Jisuo , Zhan Renbin
Published: August 2016

Gnamptorhynchos, a rhynchonellid-like orthid brachiopod, evolved from Platystrophia in Maysvillian (early Ashgill) time, and survived both the end-Richmondian and end-Hirnantian episodes of the latest Ordovician mass extinction. The name of the type species of Gnamptorhynchos, G. inversum Jin, 1989, is rejected and replaced by Gnamptorhynchos globatum (Twenhofel, 1928), which is a senior synonym. Gnamptorhynchos manitobensis new species is described here from the Selkirk Member (Maysvillian) of the Red River Formation, southern Manitoba. The new species is characterized by a transversely extended, strongly biconvex to globular shell with prominent umbones, relatively numerous costae and a notothyrial cavity supported dorsally by a short median ridge. It constituted part of a Late Ordovician epicontinental fauna that once spread widely in shallow, equatorial seas of North America. The new species is a morphological intermediate between Platystrophia and Gnamptorhynchos, with Platystrophia-like interareas, hingeline, and cardinal process, but Gnamptorhynchos-like shell posterior and notothyrial platform. Previously, Gnamptorhynchos was known from Hirnantian to mid-Aeronian rocks. The new species extends the lower range of the genus to Maysvillian.
A new species of Leodia (Clypeasteroida: Echinoidea) from the Neogene of Venezuela and its importance in the phylogeny of mellitid sand dollars
Authors: Mooi Rich , Peterson Dawn
Published: August 2016

Leodia divinata new species is described from Early Pliocene deposits in Venezuela. It is only the second known species of Leodia, which was otherwise represented by a single extant and Late Pleistocene species, L. sexiesperforata. We also provide an overview of the characters that distinguish Leodia from other mellitid genera and that distinguish L. divinata from L. sexiesperforata. The evolutionary importance of L. divinata is discussed, along with its contribution to our knowledge of the phylogeny of the Mellitidae. It is now possible to partially fill a major and previously vexing gap in the stratigraphic record of the mellitids, and place in a phylogenetic context the strong preference of modern Leodia for biogenic, calcareous sand bottoms.
Morphology and paleogeography of the Ordovician conodont Paracordylodus gracilis Lindström, 1955: Comparison of two populations
Authors: Tolmacheva Tatiana , Löfgren Anita
Published: August 2016

Populations of the widely distributed Early Ordovician conodont Paracordylodus gracilis Lindström, 1955, have been measured and studied in detail. Natural clusters and rich collections of isolated elements allowed calculations of size frequency distributions and construction of survivorship curves. Small morphological differences, as well as dissimilarities in population structure between collections from separate areas, were observed. This led to the recognition of Type A populations from Kazakhstan and other Arenigian warm water, low latitude regions and Type B populations from Baltica and other areas with cool water, mainly located at high latitudes in the Arenigian.
Pseudomulceodens: A Mississippian rostroconch from Mexico
Authors: Quiroz-Barroso S. A. , Pojeta John , Sour-Tovar Francisco , Morales-Soto Salvador
Published: August 2016

This finding of Pseudomulceodens in Mississippian-age rocks of the Santiago Formation provides the first evidence of the molluscan class Rostroconchia in Mexico. Elsewhere in North American Mississippian rocks the class occurs in Arkansas (Hoare et al., 1982, 1988); Illinois (Weller, 1916); Indiana (Beede, 1906); Iowa (White and Whitfield, 1862); Michigan (Winchell, 1870); Montana and Nevada (Pojeta and Runnegar, 1976); Ohio (Hyde, 1953; Hoare, 1990); and Oklahoma (Branson, 1958).
A juvenile Elginia and early growth in pareiasaurs
Authors: Spencer P. S. , Lee M. S. Y.
Published: August 2016

Although pareiasaurs are one of the most abundant and conspicuous elements of Late Permian terrestrial ecosystems, small individuals of these reptiles (either small species or juveniles of large species) are extremely rare. Until now, the smallest known pareiasaur is the type of the late, heavily armored form Anthodon (=Nanoparia) pricei (Bernard Price Institute of Palaeontological Research, Johannesburg 1/6), with a skull length of 10 cm and an inferred snout-vent length of approximately 50 cm. This is presumably an adult of a dwarf form, since all elements of the skull and postcranial skeleton are fully ossified, sutures are closed, and the dermal armor is more highly developed than in any other pareiasaur (Broom and Robinson, 1948; Brink, 1955; Findlay, 1970; Lee, 1997). A second and as yet undescribed specimen (Geological Survey, Pretoria CM86/544) is approximately the same size, being only very slightly larger (Lee, 1997). No other specimens of this taxon are known. An unnumbered humerus in the Amalitsky collection of the Palaeontological Institute, Moscow, is from a pareiasaur of similar size to the second specimen of A. pricei. However, this specimen is presumably a juvenile of a large form: the ends of the humerus are unossified, and the specimen comes from the North Dvina bone beds, which have yielded numerous specimens of the large pareiasaur Scutosaurus but no other pareiasaur taxon. Here, we re-evaluate a specimen originally described as a dicynodont tail, and later as a procolophonoid, and demonstrate that it is actually a juvenile of the pareiasaur Elginia mirabilis. It is also by far the smallest pareiasaur so far known, being approximately half the dimensions of the next smallest individual, the type specimen of Anthodon pricei. The newly recognized specimen provides new information on the ontogeny of pareiasaurs and the homology of some problematic skull elements.
Permian Gastropoda of the southwestern United States: Subulitacea
Authors: Erwin Douglas H.
Published: August 2016

The composition of Permian members of the superfamily Subulitacea is considered, and 12 new species of Subulitacea are described from the silicified fauna of the Permian System of West Texas and New Mexico. Other elements of the gastropod fauna were previously described by Yochelson (1956a, 1960) and Batten (1958).

The new genusIschnoptygmais established for subulitaceans possessing a plate-like columellar fold, and includes the new speciesIschnoptygma archibaldiandI. valentinei.The genus is placed within the new family Ischnoptygmidae. New species of Subulitidae areCeraunocochlis deformis, C. elongata, C. kidderi, C. trekensis, Strobeus girtyi, Soleniscus diminutus, S. variabilis, Cylindritopsis hamiltonae, andC. spheroides.The status of the genusLabridensis questioned, but provisionally retained. The assignment of the family Meekospiridae to the Subulitacea is questioned, and a single new species,Meekospira mimiae, is described.
Cephalopods from the late Eocene Hoko River Formation, northwestern Washington
Authors: Squires Richard L.
Published: August 2016

Rare specimens of the nautiloidsNautilusandAturiaand extremely rare specimens of a sepiamorph sepiid are described from the late Eocene Hoko River Formation, northern Olympic Peninsula, Washington. The well-preserved partial phragmocones are from channel-fill clastics deposited on the inner and middle slopes of a submarine-fan system.

TheNautilusspecimen is allied toN. cookanumWhitfield from middle Eocene strata, New Jersey, and is probably conspecific withNautilussp. (Miller) from late Eocene strata, northwestern Oregon, both of which were previously assigned toEutrephoceras.This is the first record ofNautilusin the northeastern Pacific.

TheAturiaspecimen is tentatively identified asA.cf.A. alabamensis(Morton), a species previously only known from late Eocene strata in the Atlantic-Gulf Coastal area and northeastern Mexico.Aturia alabamensismay be the same as numerous Eocene North American aturiid species.

The two sepiamorph sepiid specimens resembleBelosepiaVoltz but are probably generically distinct. They are only the second record of sepiids in the Eocene of the northeastern Pacific.
Leviceraurus, a new cheirurine trilobite from the Cobourg Formation (Middle-Upper Ordovician), southern Ontario, Canada
Authors: Hessin William A.
Published: August 2016

Leviceraurus mammilloides n. gen. and sp. is an Ordovician cheirurine trilobite which occurs in limestones and shales of the Hallowell and Hillier Members of the Cobourg Formation, southern Ontario. It is a probable descendant of Ceraurus.
Taxonomy, distribution, and characters of Pre-Oligocene members of theCantharusgroup of Pisaniinae (Neogastropoda: Buccinoidea)
Authors: Vermeij Geerat J.
Published: August 2016

This paper presents a review of Cretaceous to Eocene genera and species of theCantharusgroup of the buccinoidean neogastropod subfamily Pisaniinae, the description of two new genera and one new species, and a nonphylogenetic discussion of character evolution in this group. The new genusIckarusis introduced forTritonidea ickeiMartin, 1914, from the Nanggulan beds (middle Eocene) of Java, Indonesia.Editharus(type species:Fusus polygonusLamarck, 1803, middle Eocene of the Paris Basin, France) is a new genus with seven to nine species ranging from the early to late Eocene of Europe.Editharusis unusual in having a labral tooth formed at the angular junction between the adapical and abapical sectors of the outer lip.Editharus angulilabrisfrom the Marinesian (early late Eocene) is a new species from the Paris Basin closely related toE. polygonus.The incidence and expression of several characters has sharply increased in theCantharusgroup from the Paleogene to the Neogene. These characters include the presence of lirae (spiral ridges) on the inner side of the outer lip, the presence of a parietal tooth at the adapical end of the inner lip, and determinate growth (as inferred from a unique adult varix). These trends are also exhibited by other Cenozoic gastropod clades.
New data on the Upper Triassic bivalve Monotis in North America, and the new subgenus Pacimonotis
Authors: Grant-Mackie J. A. , Silberling N. J.
Published: August 2016

Re-examination of some North American collections of the late middle to early late Norian pterioid bivalve Monotis confirms the separation of M. (M.) alaskana Smith from the European type species M. salinaria (Schlotheim). The related M. (M.) haueri Kittl, as differentiated statistically, is more widely represented in southern Alaska, the Canadian Yukon, and Nevada than was formerly recognized. Species described originally from northeastern USSR and now confirmed as present in rocks from Alaska and western Canada include: M. (Entomonotis) pachypleura (Teller), M. (Eomonotis) daonellaeformis Kiparisova, and M. (E.) anjuensis Bytschkov and Efimova. Monotis subcircularis Gabb and related forms are transferred from the subgenus Entomonotis to the new subgenus Pacimonotis in order to give the former subgenus a more homogeneous morphologic range.

Re-evaluation of the stratigraphic occurrences of these species shows that M. alaskana occurs above M. subcircularis and below M. haueri in the Wrangell Mountains, Alaska. Elsewhere in North America, however, Monotis haueri occurs at the same level as M. subcircularis and is thus a long-ranging form. These three taxa, as well as M. pachypleura, are representative of the upper Norian Cordilleranus Zone. Monotis daonellaeformis is among the oldest Monotis species of the middle Norian Columbianus Zone; M. anjuensis in North America is probably also from the Columbianus Zone but could overlap in occurrence with the upper Norian M. subcircularis.
Harringtonina is Anabaia (Brachiopoda, Silurian, Malvinokaffric Realm)
Authors: De Melo José Henrique Gonçalves , Boucot A. J.
Published: August 2016

Inspection of the type collection of the Lower Silurian brachiopod Anabaia Clarke, 1899, from the Pitinga Member of the Trombetas Formation, shows that Harringtonina Boucot, 1972, is a junior synonym. Three species are recognized for this endemic Malvinokaffric Realm genus: Anabaia paraia, the type species from the Llandovery of the northern rim of the Amazon Basin and the Titicaca region in southern Peru, Anabaia paraguayensis from the Llandovery of eastern Paraguay, and Anabaia australis from the later Llandoverian through Ludlovian and possibly Pridolian in the Andean region extending from the Precordillera de San Juan, Argentina, north through Bolivia to the Titicaca region of southern Peru. It is predicted that Anabaia will eventually be recognized in South Africa, and probably in West Africa as well, in beds of Malvinokaffric Realm affinity.
The largest late Paleozoic bellerophontid gastropod
Authors: Kues Barry S. , Duchene Harvey R.
Published: August 2016

Some species of late Paleozoic bellerophontacean gastropods attained unusually large sizes. Yochelson (1960) described several Permian species from the American Southwest having shells more than 50 mm long, and noted that the largest North American specimen is an incomplete Leonardian steinkern more than 90 mm long, from the Glass Mountains of Texas. A Permian species of Bellerophon from Japan is up to 120 mm wide (Yochelson, 1960), and several Mississippian and Pennsylvanian species in the 90+ mm range are also known (Weir, 1931; Kues, 1987). Steinkerns of this size are not uncommon in Wolfcampian and Leonardian formations in New Mexico, but because of lack of preserved shell material and/or occurrence in massive limestones they are rarely collected and little is known about them. In this note we report and illustrate an unusually well preserved but incomplete Guadalupian bellerophontid from southern New Mexico. It is considerably larger than the specimens mentioned above, and appears to be the largest late Paleozoic bellerophontid yet reported.
Occurrence of Sievertsia (Echinodermata: Cyclocystoidea) from the Middle Devonian of northern Indiana
Authors: Fluegeman Richard H. , Orr R. William
Published: August 2016

Cyclocystoids (range: Ordovician–Devonian), particularly of Devonian age, are extremely rare fossils and stratigraphic ranges of most taxa are little known. For this reason, the discovery of a single fragmentary specimen referable to Sievertsia (Smith and Paul, 1982) from the Traverse Formation (Middle Devonian) in Cass County, northern Indiana, deserves mention. Furthermore, the precise stratigraphic position of the cyclocystoid occurrence is documented by a combination of significant conodont and brachiopod faunas. The specimen was collected in situ on a weathered surface from a position approximately 1.2 m above the base of the type section of the Miami Bend Lithofacies (Cooper and Phelan, 1966, p. 6, U.S. National Museum Locality 391a; Orr, 1969, p. 338, Locality 5) exposed at the top of the west wall of the old France Stone Company quarry (inactive) on the north side of U.S. Highway 24, 3.2 km east of Logansport, SW¼, NE¼, sec. 27, T27N, R2E, Cass County, Indiana (Logansport 7½′ quadrangle).
Use of drain cleaner in processing shale samples
Authors: Maples Christopher G. , Waters Johnny A.
Published: August 2016

We have been processing organic-rich shale from the Carboniferous Luocheng Formation, Peoples Republic of China, for microcrinoids and microgastropods. Initial attempts to disaggregate the shale using standard techniques (e.g., chlorine bleach, Quaternary-O, paint thinner, Stoddard's solution) proved futile. Nothing worked on the mixed organic/clay matrix in which the fossils were entombed. One particularly frustrating evening, a television commercial, in which a large hair clog in a clear plastic drain pipe was dissolved, inspired us to purchase and try some drain cleaner for processing our samples. After reading numerous drain-cleaner labels, we selected Liquid-plumr® because it contained one of the strongest concentrations of sodium hypochlorite and sodium hydroxide easily available. We are not necessarily recommending Liquid-plumr® over other brands; however, some drain cleaners are nothing more than concentrated sulfuric acid, so careful scrutiny of the labels is recommended.
Talentella, a new Siluro-Devonian genus of enteletacean brachiopods
Authors: Johnson J. G.
Published: August 2016

The genus Salopina Boucot (in Boucot et al., 1960) is now widely recognized in Silurian to Middle Devonian rocks (Walmsley et al., 1969); its Ludlovian type species is S. lunata J. de C. Sowerby (Walmsley, 1965). From the outset, a variety of morphs and named species have been gathered within the genus Salopina, although some significant differences have been evident. The most obvious difference is size, which is often ignored as a consequence only of ontogenetic variation. Size can also be a hallmark of habitat, or biofacies, or position in the benthic community chain.
Mississippian rostroconch mollusks from Ohio
Authors: Hoare R. D.
Published: August 2016

Five species of rostroconchs are known to occur in six Mississippian units in Ohio. Aphelakardia alternistriata (Herrick) n. gen. and Hippocardia herricki n. sp. are present in the Meadville and Wooster Members, Cuyahoga Formation (Osagean). ?Hippocardia sp. occurs in the Meadville Member. Pseudomulceodens cancellatum (Hyde) n. gen. is known from the Byer Member, Logan Formation, and Wooster and Blackhand Members, Cuyahoga Formation (Osagean). Bransonia hydei n. sp. occurs in the Maxville Limestone (Chesterian). An unidentified taxon occurs in the Allensville Member of the Logan Formation.
Another look at confidence limits for species proportions
Authors: Buzas Martin A.
Published: August 2016

In paleontological investigations the number of individuals of a particular species, ni, is often expressed as a proportion of the total number of individuals, ∑i=1S ni = n, for all, S, species. This proportion, p = ni/n expressed in percent, is referred to by various authors as percent species, relative abundance, percentage abundance, species frequency, fractional abundance, and so on. Naturally, researchers are interested in the confidence limits that can be placed on these estimates, and in the number of individuals required to obtain them. The binomial distribution was used by Dryden (1931), Dennison and Hay (1967), Wright and Hay (1971), and Patterson and Fishbein (1989) for this purpose.