Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1914-09-08

! TO register each item Of security depoS'
tied with the department. showing q
complete record each day of the amour,
to the credit of each company. ID ex-
cellent and complete. A daily and
monthly balance is kept with each
company. Much care has been taken
in making the record complete with
each company. so that 1t will show
the number of each security deposited
and the number and amount OF each
withdrawal made. Each item OF secur-
ity can be readily and easily traced
on the records kept.
The security division of the depart
ment. under the excellent supervision
of the security clerk, John w. Daley,
has given careful attention to the ex-
animation of each security deposited.
and none have been accepted by the
department unless they fully comply
with the requirements of the Statute.
The companies and associations are re-
quired to keep their deposits up to the
amount required by law. No company
or association is permitted to with
draw securities sufficient in amount to
bring the amount on deposit below the
reserve required by law to be kept on
deposit. The books. kept by Mr.. DALEY
are neatly and accurately kept and
show clearly the actual condition Of
each company's account. All securi-
ties deposited up to the date of this
examination are entered of record.
Business Shows Great Increase.
'-After completing the checking and
comparison. L find that the securities
on file az the close of business June
80 1914. the list furnished by each COM
pany. association or fraternal society.
of the secrities on file with the audi
tor of state. and the records kept of the
same by the department, harmonic.
The records of the office show q
balance of securities on deposit at the
close of business. June 81, 1914. Of
$50, .9o,0e53S. This amount is in per-
feet harmony with the total amount of
the list of securities furnished by the
different companies, associations or
fraternal societies, which they claim
as on deposit with the auditor of state
as OF said date.
The volume OF business in the in
surance department has made Won
derful increase during the five and
one-half years OF Hon. J. L. Bleakly's
administration. No officer has ever
given greater care and more efficient
service to this department that that
given by the present auditor OF state
and his able assistants
by act OF the Thirty-fifth assembly,
an insurance department was created.
The law went into effect July l, 1914.
Under its provisions the governor ap-
pointed Emory II. English commission
er of insurance, who executed the bond
required by Law and is now in full
charge OF the work of the department.
BY courtesy OF the auditor of state
the commissioner temporarily conducts
the business Of the new department IN
the rooms of the auditor.
The department receives annually
many million dollars in securities de-
posted by the various domestic insur-
ance com panies transacting business in
this state The department should be
given proper facilities for securing ac-
eurate knowledge of the actual value
of securities accepted for deposit from
such ompanies- The executive coun-
ell. / am quite sure, Understands the
of the state and the
OF insurance in properly
safe guarding this large volume OF Sc
curi,ies. the property Of our citizen
.noluSES increased vault laClll-
ties sill soon be imperative and provis-
ion for the same can be most econ
made at the time,
The securities deposited made the
phenomenal increase from SO .ss1.31033.
the amount turned over to the present
auditor Of state five and one-haf years
ago. to 35s.7so 0s5.3s on July /. 1914
During the month Of June this year the
increase was S1,3sa.0sa-22 and during
the month OF July. tl.0s9,ss574."