The Washington times., 1902-09-04
Creditable Showing Made
by New Department
in Six Months.
LICENSE RECEIPTS $4,000
Maximum Estimate for reoz-Superin-
tendent Drake Calls for Increased
Clerical Force and Larger Salary
Fund-Details of Work.

uun-ACbdAS
The District Commissioners yesterday
received from Mr.. Tho mas E. Drake
Superintendent of Insurance, his re-
rort OF the work of the Department oi
Insurance for the one half of the last
fiscal year, the period of its existence,
Mt. Drake also sent with his report an
estimate of the expenses of the ofice
, for the fiscal year ending June 30, 1904.
In the first paragraphs of the report
attention is called to the fact that the
department was created under the act
of Congress approved March 8. 1901. to
go into effect January l. 1902. He says
further that The law establishing the
department was not clear in all its
particulars. and that before sending out
the qualifying documents upon which to
license several insurance companies do
ing business in the District, 1t became
necessary for him TO issue an official
ruling bearing upon licenses.
Interpretation of the Law.
This ruling is quoted in full in the
tion put upon sections GAG, 654 and 655
of the District Code in regard to in
surance licenses.
Under this ruling all companies is
suing only their own policies pay Ii
cense fee of $40. Local and. foreign
companies desiring to act as agents for
ether companies pay $50. Foreign COM
paiics represented by a principal or
policy writing agent pay $50. The prin-
cipal or policy writing agent pays a
fee of $50. The brokers' license is $50.
The solicitors license is SIS, and the
rany is 81.
Companies Licensed.
Prom January /, to July L. says Mr..
Drake, 1924 insurance companies, asso-
Citations and fraternal orders applied
for admission to do business in the Dis
trict of Columbia. On July /, 144 of
these had been licensed for the prelim-
mary term of four. months. running from
January i, 20 May l. which latter date
is fixed by law as the anniversary of all
licenses.
During this period, preliminary IL
censes were issued as follows: Princi-
pal agents, 10s; solicitors. ordinary. 15c;
solicitors, industrial, so; brokers', II: the
fees upon which amounted to $2.St1.33.
Total expenses of the Department dur
ing this period. including salaries and
Office furniture, were s2.10S.01. No
taxes have as yet been collected. 1t is
estimated that the receipts from these
two sources for 1902, will amount TO
$40. 900 or $50, ,000.''
The report gives detailed information
relative to number of companies which
failed to qualify under the laws. and
number of assessment companies which
have withdra wn from business here. He
states that an examination of the Ma
tional Life Insurance Company Z. S. ~"
is now taking place.
Mr.. brakes Suggestions.
Mr.. Drake offers several suggestions
relative to the annual examination of
certain companies. including the local
IRE insurance companies, but specifies
that it ought to be done through the
department without expense to the COM
panies He would extend the same policy
to the assessment associations and the
fraternal orders doing various forms of
life insurance.
Attention is called to the lack of pro-
vision in the law for establishing the
solvency of regular life insurance COM
panies and the necessity for issuing an
Official ruling to supply the lack. In
conclusion, the report says:
Clerical Force Too Small.
1.-The work of the department has been
greatly handicapped for want of sufi-
cient clerical help, and this accounts for
being behind several months in the is
suance of licenses to companies, agents,
and solicitors. During the last session
of Congress, however, a law was passed
providing for one examiner for the de-
partment, and 5000 was appropriated for
extra clerk hire. In addition to these
provisions there should be a statistician
and a stenographer. the duties of which
are explained in the accompanying esti-
mate of appropriations for the depart
ment during 1903 and 1904''
Wants Increase of Salary.
In the schedule of estimates for the |
next fiscal year Mr.. Drake asks for |
AZ aggregate of $4,000 for the depart
ment. In this amount is included the |
increase of the salary OF the superin-
tendent from $500 to $500, the salary
of statistician $500. stepographer
81 200, and a number of minor items for
the conduct of the business OF the de-
partment-
The work OF the department has but
fairly begun adds Mr.. Drake "Thc
effect, however, of supervision in the
District OF Columbia has already been
favorably felt. the best proof of which
is evidenced by not as manv companies
qualifying in 1902-principally because
they could not-than in 1901"
Ask for an Accounting.
Suit was filed yesterday in the Su-
preme Court OF the District by Mr. Roy