The Montgomery advertiser., 1904-01-03
MONEY FROM
 INSURANCE Fine Showing For State Department. INCREASE. ' OF INCOME ;. ,'.s. <. Commissioner McDayid Com- pletes Yearly Report.
 ft ! @F ,. : Y ef. Number of New Companies Were 1, Licensed ;. During Calendar Year and Expense. of De- partment Was Reduced.
 

The receipts of the State Insurenee Department Of Alabama show for the calendar year 1903 an increase of T6A over the year 1902. :
 The end of the years work shows, too. decreasei in the operating expenses of the department of ST. These advance figures are from the annual report of Deputy Insuraricee Commissioner E. R! McDavid. which will sbe. published short ly and will then berready Sfor distribu- tfun. . -' 'i..r f-AIf
 Goes by Calendar Year.
 The year in the InsuraneeT Department is the same as the calendar year run. ming from January i1st to January 1st.i The fiscal year of the 'other State de- partment differs from the calendar year. The fiscal year of theh other State de-. partments run from Oct, 1st to Oct. 1st.;
 MT McDavid has just completed his report for the year .19O3. The Secretary, of State under the, law is ex-officio 1n- surance Commissioner. but tho detail work of the department is looked after by the Deputy Insurance, Commissioner, under the supervision of the Secretary of State. who appoints the deputy O.
 The forthcoming report shows. too. that in the past four years the receipts of the Insurance Department. the. mon- ey, the department, turns into the State 11CdSuTy. ndS pttIl ncdEiy uouOiCOs Review of the Work. A brief resume of the work of the de- partment is given in the following state ment prepared by MT. McDavid. Receipts:
 For company licenses ........... 1.175 co i For agents certificates of au- thority .......... ........ H,Zo4 Vt For one per cent. tax on prem iums ............'...... ol'4Ud x 1 Total .,,.,.............. STA 466 g | Disbursements:
 | Total expenses as per vouchers on file with State Auditor $2.S1662 (above in cludes salary of deputy commissioner of g, 2,O0O)
 Net balance paid into State Treasury $71.649 70.
 During the year sixty-two fire compa- Tiies. thirty life companies, twenty-twc accident and casualty companies and eight mutual aid associations were Ii censed by the department. Three new fire companies and one new casualty company were licensed. A total of 32O agents were licensed.
 The large increase of income. in thu opinion of MT. McDavid, is due to tho great prosperity of Alabama. No new insurance laws have made any materia additions to the department.
 | Prosperity in Alabama.
 '"rhe prosperity which exists in Ala bama." said MT. McDavid yesterday, 'ii responsible for the very gratifying in
 crease in the departments revenues
 There is more business in Alabama More business means more insurance taxes and more agents. More agent! means the issuance of more licenses"
 No insurance act of any importance except the act governing mutual aid so cieties was passed by the last Legsla ture. This mutual aid society act mad, no material increase in the revenues O the Insurance Department in 1903. bu MT. McDavid said that, in his opinion the law would. in 1904 bring in increased returns of about 5000. He prophesieC that the department would next veal turn into the State Treasury about SS5, GOO.
 The department receives it's incom, from licenses to insurance companies licenses to agents and 1 per cent. tax or the gross income of the companies.