required to take out a line of insurance on standing timber divided into equally hazardous, definitely specified, widely separated sections of territory which have been approved by the managing attorney as good risks. Each subscriber will deposit as his share in the reserve fund a cash sum equal to his annual premium, and will pay in advance a premium of two per cent. Each member will cover the costs of any necessary appraisal work. Now, when a reserve fund has been created, and all debts, future losses, and running expenses of the exchange have been provided against, the supervisors should order the managing attorney to return to each subscriber, at the close of any year, the unused portion of his premium, pro rata. This will give the subscribers insurance at actual cost, as well as a pro rata ownership in the reserve fund.

The usual annual loss, and the uncertain, extraordinary loss must be provided for-and the more risks carried, the more uniform and less uncertain will be the latter.

It should be possible for any subscriber to withdraw upon due notice; and his pro rata share of his unused premium, plus interest earnings on his money while on deposit with the attorney should be returned to him, after his account has borne its proportionate share of fire-loss settlement and costs of management and other debts incurred by the association up to the close of that year.

An advisory board of five supervisors is recommended. They should meet four times annually; and should control the activities of the managing attorney, and should prescribe regulations in respect to new members, risks, assessments, etc.

Each subscriber agrees to maintain on his insured land adequate fire protection, subject to the approval of the managing attorney. Failing in this, this official may declare void any policies covering such land until satisfactory protection has been renewed and preserved. This, of course, automatically requires the attorney to make periodic and thoro inspection of all parcels of land.

All subscribers agree to abide by the decision and adjustments of the attorney and supervisors in case of a settlement. All premiums will be based on a previous detailed cruise in the case of merchantable timber, and on a carefully

pre-determined estimate of the per acre value in the case of plantations, or other young, growing stock.

The percentage of loss paid to the subscriber will be the same percentage of the face value of the policy that the actual loss bears to the total value of the insured area. In case of fire, the attorney shall make personal inspection, valuation, and settlement with each subscriber.

New subscribers may be admitted under certain obvious conditions relating to the location, value, and risks of their holdings, and their membership in some organized fire protective association or their willingness to maintain patrols of their own.

The benefits of such an organization to both large and small timber owners cannot be disputed. It would render the annual fire loss more uniform and would diminish, to a certainty, the uncertain, extraordinary annual loss. A new profession that of timber actuary-would be created. It would result in the gathering of adequate and accurate data on fire risks. A market would be stimulated for cut-over lands and for second growth. Planting would be stimulated, and long time management of timberlands would be fostered. The timber owner would have an opportunity fully to protect his land, and he would be encouraged in the holding thereof.

PRESIDENT OSTRANDER: Just a moment, Professor. Did you read the paper read by Mr. Brown at the Crawford House in August? He loaned me a copy. The point I had in mind was, could you tell me why he considered New York as a poorer risk than New England; why he distinguished the application of the insurance to New England. I think it is a very important matter for all of us who own wood lands to ascertain why he discriminated against the State of New York. There is nothing stated as a reason why New York should be considered as a poorer risk than the New England states. If there is anyone here who can explain that, we would be very glad to hear from them. I notice that Mr. Kellogg has returned from a vacation, and if he has a report to make we would like to hear it now.

MR. KELLOGG: I must first beg pardon for failure to submit a report in writing, but inasmuch as Mr. Ostrander is concerned and as this is merely an adjunct, I am sure I will

be excused, but I can not let the opportunity escape without making a few remarks.

I wish to call the attention of the people of the entire state to the subject which is the basis of this organization and that is, an intelligent treatment of forest areas and of the areas which ought to be forests in the State of New York. Of course, I know that evolution is the law of life and I believe I see that I have evidence, and an intelligent appreciation of this very great subject is being gradually evolved. Nevertheless, from the fact that that great reservoir of the unfortunate New York City and Brooklyn is growing with such rapidity that it is not entirely impossible, nay I might say improbable, that any intelligent opinion shall find its appreciation on the State of New York. The industry which some of us are engaged in will be entirely evolved out of life. I am sure that the men here feel, too, the lack of the appreciation of the beauty which they feel toward the forest proper. We can feel something of sympathy for that class of people who have dwelt within the rear of a great city, and who look upon a tree as something novel and they think when they see one or two or more growing together that they must have made an original discovery and at once suggest plans for an idea for the propagation and the protection of the growth and offer it to you and to me who have spent our lives in the lumber industry and allied industries. That is one of the inconsistencies that we have to read and contend with.

Now, it has been my pleasure to be a member of this association for a great many years and whenever I have had opportunity I have appealed as well as I might, to those ungodly ones who like myself are engaged in the manufacture of products out of forest trees. I have said that merely because the Legislature is about to assemble and to us there is a focus of this industry. It is not necessary for them to crawl under and then to come out again to criticise. Last year at the meeting in Albany there was not entire consideration but rather a collateral meeting and splendid questions came up from the City of New York and they proposed certain lines of activity. I want to say to you. gentlemen, you who are timber owners, and you young men who are studying forestry and learning the splendid art which will contribute so much to human welfare, that if

their ideas were to be formulated and the actual practice of each were carried on every one of us would be goners. Their ideas were that the Adirondack forests should be kept and preserved a sacred temple which no person should enter except with unshod feet. Now let me tell you something. of course, I am a pretty old man, but I want to give just one word of warning to you men who have interest in timber growing in the forest preserve, you have got to be alert and alive because those men with the sentiment which I have indicated are fast becoming to be a spirit in the state and in the laws. You have an inaugurated campaign of education. You have got to follow the lead of your illustrious president in carrying the opinion among the uneducated and demonstrate your power.

Now, of course, we get together once a year, most of us, and then the meeting adjourns, you lapse into a coma and we sleep a profound and gentle sleep for another year, but everyone of you, every member of this association, every man who has an interest in land, should be alive to the value of this great asset and make the most of it for a benefit to the state. If you will study these subjects so that you will have a thorough understanding of them and then take them up with your representative, then you will become useful members of this association and an asset to the state.

PRESIDENT OSTRANDER: I am sure we appreciate that the report of the Legislative Committee has been the gain and profit of this association in the powerful and elegant address of Mr. Kellogg. He has represented the thought that I endeavored to bring to you; to actively and unanimously support the work of this order. We thank you Mr. Kellogg. The next number is a discussion led by Mr. Gaylord and Mr. Howard.

MR. GAYLORD: Mr. President, I don't feel that I am very well equipped to speak on this subject and as I see Mr. Howard is here I think it proper if he took up the side of the state first, that I might go on with his help.

PRESIDENT OSTRANDER: Mr. Howard, have you any objections to making your statement first?

MR. HOWARD: It is not my intention to take up a great deal of time, but as requested by the committee I have prepared a brief resume of Co-operation in Fire Protection be

tween the Empire State Forest Products Association and the Conservation Commission.

At the annual meeting of the Empire State Forest Products Association held in Albany on December 2, 1915, Mr. Pettis, Superintendent of State Forests of the Conservation Commission, was invited to speak on the matter of fire protection.

Mr. Pettis discussed the work which was being done by the Conservation Commission in the Adirondack and Catskill regions, and emphasized the need for co-operation between the members of the Forest Products Association and the Commission, in order to attain the greatest efficiency.

The members of the association evinced an interest in this matter and appointed a committee of three members, as I remember it, consisting of Messrs. Geo. N. Ostrander, F. A. Gaylord and T. J. Wilber. This committee was directed to confer with representatives of the Conservation Commission, with a view to determining just what form the co-operation between the two organizations should take and the methods which should be pursued to make it effective.

A conference was held in Albany on December 20, 1915, at which the members of the committee and representatives of the Conservation Commission were present. A thorough discussion of the fire protection work brought out the fact that the then existing organization maintained by the commission, was generally satisfactory. It was felt that individual land owners would prefer to have any assistance which they might render take the form of putting on special observers on secondary mountain stations in periods of dry time rather than to employ rangers, and also that such an arrangement would be more effective. It was also felt that telephone lines to all camps on privately owned tracts would greatly increase the efficiency of the fire protective system, and that assistance of this nature could probably be rendered by the land owner at comparatively little cost to himself, inasmuch as such telephone lines would accrue to his own advantage in his business and, therefore, the expense chargeable to co-operative plan would be nearly negligible.

It was agreed that land owners within the fire protective