The Birmingham age-herald., 1904-07-11
NH EARNINGS FOR
 1903 ARE $71,O3O.83 Report is Issued for State h.
 Surance Department AFFAIRS IN GOOD SHAPE Receipts Up to April 30 of This Year Have Been $ss,1se.ts, Which Promises Handsome Increase
 in States Revenues.
AFFAIRS IN GOOD SHAPE

Montgomery, July 1o.-(Speeial)- )-The insurance department of Alabama is in the best of condition. as indicated by the report of Commissioner E. R. Me- David, just from the hands of the print CT This covers the year 1903. with finan- cial tables brought up to April 30, of this year Since the removal of the office in 1897, from the auditors office to that of the secretary of state. that official be- ing made the commissioner, the receipts have doubled while the expenses are actually less than they were the first year the records were kept under the new ar engagements. 1898.
 Commissioner McDavid reports receipts for the year 1903 as follows: State taxes on premiums. $5O9H95; company licenses. $1l,674; licenses of 3209 agents at $S50 each, 1l,2S1.5o; total. Ss, 4S7 45 The disburse- ments were $2S1662, leaving net earnings to the state of $71, O30. .s3.
 The receipts up to April 30 of this year have been $SS, 19619, indicating that they will go during the current twelve months to over $S5, 600, or double what they were in 1898, the first year after the new law was passed when they were S42,5S .4S.
 The expense account of the department in 1898 was $2444. S6, as against s2Sl6.62 this year, an increase of $372.26 in expense, while the receipts are nearly double, or in actual figures, 31,314.9 97. The showins for this year so far indicates that these figures, while remarkable, will be ex- ceeded in 1904 There is not, really, an increase in expenses of an incidental way because the salary of the deputy commissioner Is now $500 more than 1t was in 1898 If this was now as it was then the actual expense for 1903 would be $90l6 O. as compared to $2444 36 in 1898.
 12s Insurance Companies.
 There are this year 1S insurance com panies doing business in the state-65 fire, B life, 20 miscellaneous and mutual aid. Three fire companies and one casualty company retired during 1903, while four fire and five life companies entered.
 The fire companies doing business in the state increased their receipts over 1902 by S150O and reduced their ratio or losses to premiums collected from 63.0S in 1902 to 4. .O4 The average. loss ratio for seven years has been 55 per cent, showing that last year was a good one for the companies.
 The report also shows well for the as- sured The average rate is reduced from IFS in 1902 to 1.67 in 1903. The average rate for seven years is, however, l.62
 During the year covered by the re port the last mutual company doing business in the state went out of busi- ness. the Southern Mutual of Birming- ham, There were five in all in the state organized under what is known as the mutual law, which has since been re- pealed. There are now only three m surance corporations in Alabama, the Atlanta Birmingham, headquarters for the state in Brmingham the Factors and Traders and the Stonewall, in Mobile. They are all stock companies
 Law is 7igidIy Enforced.
 The new mutual aid law has been rigid ly enforced by Commissioner McDavid. until there are only eight now doing busi- ness with two more applying. They are now required to put up with the state 5000 as d guarantee fund. pay license of $20 a year and l per cent of the prem ium receipts. There were forty or more when the law was passed and they were simply robbing the ignorant classes many of them The law keeps out the fakirs and those which are paying it are mak- ing money. Besides regulating the busi- ness and protecting the ignorant people of the state, the treasury IS increased each year from $3000 to 5000, or will be as the matter is now working out.
 In his report to the governor Commis- sioner McDavid insists that some of the laws bearing aon this department ought to be repealed and more power given to correct evils but as the legislature is three years off he does not make any recommendations. He expresses pleasure at the workings of the law regulating mutual aid concerns, and is pleased with the good showing made by the receipts. He notes that there is no friction between the repartment and any company, though all the laws are rigidly enforceed. A compliment is paid in the report to Depu- ty Commissioner Henary R. Shorter who is rapidly getting in line with his duties, and Is making a very valuable man.