SEC. 19. No company organized under this act shall purchase, hold or convey real estate, excepting for the purposes and in the manner herein set forth, to wit: First, such as shall be requisite for its convenient accommodation in the transaction of its business; or second, such as shall have been mortgaged to it in good faith as security for loans previously contracted, or for money due; or third, such as shall have been conveyed to it in satisfaction of debts previously contracted in its legitimate business; or, fourth, such as shall have been or may be purchased at sales upon judgments, decrees or mortgage foreclosures obtained or made for such debts.

SEC. 20. It shall not be lawful for the directors, trustees or managers of any insurance company organized under the laws of the Territory of Washington, or of this act, or incorporated under any laws of this state, to make any dividends except from the surplus profits arising from their business, and in estimating such profits there shall be reserved therefrom a sum equal to forty per cent of the amount received on premiums on all unexpired risks and policies, which amount so reserved is hereby declared to be unearned premiums; and there shall also be reserved all sums due the company on bonds, mortgages, stocks and book accounts of which no part of the money or interest has been paid during the year preceding such estimate of profits, and upon which suit for foreclosure or collection has not been commenced or judgment obtained thereon, which shall have remained more than two years unsatisfied and upon which interest shall not have been paid.

SEC. 21. When the capital stock of any fire or marine insurance company shall be impaired, it may reduce it as provided herein, and the par value of its shares to such amount as shall be justified by its assets; but no part of its assets shall be distributed to its stockholders, and no reduction shall be made except upon the vote of the stockholders, approved by at least two-thirds of the board of directors, and certified under the corporate seal by the secretary, a copy of which shall be filed with the secretary of state.

SEC. 22. The directors, after such reduction of capital, may require each stockholder to surrender his certificate, and in lieu thereof may issue a new certificate for such number of shares as he shali be entitled to.

SEC. 23. Such company, after its capital shall be so reduced, may increase its capital stock to any amount not exceeding the amount authorized by its charter.

SEC. 21. Any existing insurance company, or any company formed under the provisions of this act, may at any time increase the amount of its capital stock after giving notice once a week for four consecutive weeks, in any newspaper having a general circulation published in the county where the company is located of such intention by filing with the secretary of state a copy of such advertisement, subscribed and sworn to by the publisher or manager of said paper as having been so advertised, together with a declaration under its corporate seal, signed by its president and twothirds of its board of directors, and by the stockholders representing threefourths of its capital stock, of their desire to so increase the capital.

SEC. 25. No insurance company incorporated under any laws of this state shall issue its policy upon any one risk for more than ten per cent of its capital stock, paid up in cash and unimpaired, unless such excess be at once re-insured in some other reliable insurance company.

SEC. 26. Any fire or marine insurance company organized under the laws of this state, and doing or proposing to do business in any other state, may frame and issue policies in such other state in accordance with the laws thereof, anything in its charter or by-laws to the contrary notwithstanding.

SEC. 27. All policies made by insurance companies must be subscribed by he president or vice-president, or in case of the death, absence, or disability of those officers, by any two of the directors, and countersigned by the secretary of the company. All such policies are as binding and obligatory upon the company as if executed over the corporate seal.

SEC. 28. In the event of the total destruction of any insured building, on which the amount of the appraised or agreed loss shall be less than the total amount insured thereon, the insuring company or companies shall return to the insured the unearned premium for the excess of insurance over the appraised or agreed loss, to be paid at the same time and in the same manner as the loss shall be paid. [Approved March 27, 1890; in effect June 26, 1890.]

List of Insurance Commissioners of Each State.
Alabama-Cyrus D. Hogue, State Auditor, Montgomery, Ala.
Arizona-N. O. Murphy, Territorial Secretary, Phoenix, Ariz.
Arkansas-W. S. Dunlap, Auditor of State, Little Rock, Ark.
California-J. N. E Wilson, Ins. Commissioner, San Francisco, Cal.
Colorado-Lo's B. Schwanbeck, Superintendent of Insurance, Denver, Col.
Connecticut-Orsamus R. Fyler, Ins. Commissioner, Hartford, Coun.
Delaware-Isaac N. Fooks, Ins. Commissioner, Georgetown, Del.
Florida F. J. Pons, State Treasurer, Tallahassee, Fla.
Georgia-W. A. Wright, Ius. Commissioner, Atlanta, Ga.
Idaho-Charles Himrod, Territorial Treasurer, Boise City, Idaho.
Illinois-Charles W. Pavey, Auditor Public Accounts, Springfield, Ill.
Indiana-Bruce Carr, Auditor of State, Indianapolis, Ind.
Iowa-James A. Lyons, Auditor of State, Des Moines, Ia.

Kansas-Daniel W. Wilder, Superintendent of Insurance, Topeka, Kan.
Kentucky-H. F. Duncan, Ins. Commissioner, Frankfort, Ky.
Louisiana-Simeon Toby, Assistant Secretary of State, New Orleans, La.
Maine-Joseph O. Smith, Insurance Commissioner, Augusta, Me.
Maryland-J. F. C. Talbot, Insurance Commissioner, Annapolis, Md.
Massachusetts -George S. Merrill, Ins. Commissioner, Boston, Mass.
Michigan-H. S. Raymond, Commissioner of Insurance, Lansing, Mich.
Minnesota-C. P. Bailey,
Insurance Commissioner, St. Paul, Minn.
Mississippi-W. W Stone. Auditor of Public Accounts, Jackson, Miss.
Missouri-C. F. Ellerbe, Superintendent of Ins. Dept., St. Louis, Mo.
Montana-E. A. Kenny, Auditor, Helena, Mont.

Nevada-J. F. Hallock, State Controller, Carson City, Nev.

New Hampshire-Henry H, Huse, Insurance Commissioner, Concord, N.H.
New Jersey-Henry C. Kelsey, Secretary of State, Trenton, N. J.
Nebraska-T. H. Benton, Auditor of Public Accounts, Lincoln, Neb.
New Mexico-Trinidad Alarid, Auditor, Santa Fe, N M.
New York-Robert A. Maxwell, Supt. of Ins. Dept., Albany, N. Y.
North Carolina-Wm. L. Saunders, Secretary of State. Raleigh, N, C.
North Dakota-A. L. Carey, Commissioner of Ins., Bismarck, N. D.
Ohio-W. H. Kinder. Superintendent of Insurance, Columbus, O.
Oregon-George W. McBride, Secretary of State, Salem, Or.
Pennsylvania—J. M. Forster, Insurance Commissioner, Harrisburg, Pa.
Rhode Island-Wm. C. Townsend, Ins. Commissioner, Pawtucket, R. I.
South Carolina—J. S. Verner, Controller-General, Columbia, S. C.
South Dakota-L. C. Taylor, Auditor of State, Pierre, S. D.
Tennessee-M. F. House, Insurance Commissioner, Nashville, Tenn.
Texas-L. L. Foster, Insurance Commissioner, Austin, Tex.
Utah--Elijah Selle, Territorial Secretary, Salt Lake City, Utah.
C. W. Porter, Secretary of State Montpelier, Vt.
Vermont
Wm. H. Du Bois, Treasurer, Montpelier, Vt.
Virginia-Morton Marye, Auditor of Public Accounts, Richmond, Va.
West Virginia-Patrick F. Duffy, Auditor, Charleston, W. Va.
Washington Territory-Allen Weir, Secy. of State, Olympia, W. T.
Wisconsin-Philip Cheek, Jr., Commissioner of Insurance, Madison, Wis.
Wyoming-M. N. Grant, Territorial Auditor, Cheyenne, Wy.
Canada-W. Fitzgerald, Superintendent of Insurance, Ottawa, Ont.

H. R. Mann, Chairman, Arthur E. Magill, Ex-officio, Robt. Dickson, D. E. Miles, D. Hirschfeld,

Alfred Stillman,

William Macdonald,

Geo. E. Butler, Geo. F. Grant.

Committee on Fire Departments, Fire Ordinances and Water Supply:
Robert Dickson, Rudolph Herold, Jr., I. Gutte,

C. A. Laton, D. J. Staples, Charles R. Story, E. Brown.

Headquarters of the Patrol, known as Station No. 1, Nos. 106 and 108 North

side of Jessie Street, between Second and New Montgomery Streets.

Station Nc. 2, N. E. corner of Eddy and Polk Streets.

California Insurance Companies.

Anglo-Nevada Assurance Corporation.-315 Montgomery street and 410 Pine street, San Francisco. Incorporated 1885. Capital $2,000,000. Total assets $2,719,050. Net surplus $103,366. Louis Sloss, President; Wm. Macdonald, Vice-President; Z. P. Clark, Secretary.

Alta Fire Insurance Co. of California.-Home Office, Stockton, Cal. Incorporated 1888. Capital $200,000. Total assets $248,574. J. M. Welch President; M. D. Baker, Secretary.

California Insurance Co.-Home office, 318 California street, San Francisco. Incorporated 1861. Capital $600,000. Total assets $1,232,906. Net surplus $132,279. L. L. Bromwell, President; W. H. C. Fowler, Secretary.

Commercial Insurance Co.-Home office, California street, San Francisco. Capital $200,000. Total assets $406,004. Net suurpls $15,436. John H. Wise, President; Chas. A. Laton, Secretary.

Fireman's Fund Insurance Co.-Home office, Company's building, S. W. cor. California and Sansome streets, San Francisco, Incorporated 1863. Capital $1,000,000. Total assets $2,500,000. Net surplus $485,000. D. J. Staples, President; Wm. J. Dutton, Vice Pres. and Secretary.

Home Mutual Insurance Co.-Home office, 216 Sansome street. Incorporated 1864. Capital $300,000. Total assets $826,995. Net surplus $260,893.08. J. F. Houghton, President; Chas. R. Story, Secretary.

Oakland Home Insurance Co.-Home office, Company's building, Oakland, Cal. Incorporated 1880. Capital $200,000. Total assets $476, 227. Net surplus $65,752. Wm. P. Jones, President; Wm. F. Blood, Secretary.

Southern California Insurance Co.-Home office, Los Angeles, Cal. Incorporated 1885. Capital $200,000. Total Assets $329,647. Net surplus $7,697. E. T. Spence, President; D. E. Miles, Secretary.

State Investment and Insurance Co.-Home office, 218 and 220 Sansome street, San Francisco. Incorporated 1871. Capital $400,000. Assets $547,286. Geo. L. Brander, President; C. H. Cushing, Secretary.

Sun Insurance Co.-Home office, 428 California street, San Francisco. Incorporated 1882. Capital $300,000. Assets $525,751. Net surplus $46473. C. L. Taylor, President; E. E. Potter, Secretary.

Union Insurance Co.-Home office, 416 California street, San Fran cisco. Incorporated 1865. Capital $750,000. Total assets $1,268,651 Nathaniel T. James, President; James D. Bailey, Secretary.

Pacific Mutual Insurance Co.-Home office, 418 California street, San Francisco. Incorporated 1867. Capital $100,000. Assets over $2,250000. George A. Moore, President; J. N. Patton, Secretary.

Pacific Surety Co. (Guarantee and Accident Bonds)-Home office, 328 Montgomery street, San Francisco. Organized 1885. Capital $100000. Wallace Everson, President; A. P. Redding, Secretary.

California Title Insurance and Trust Co.--Sansome street. Organized 1886. Capital $250,000. Assets $261,520. George T. Marye, Jr., President; Milton B. Clapp, Secretary.