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By act of February 7, 1935, (Netherlands Staatsblad No. 41-made effective on March 16, 1935, by Netherlands Staatsblad No. 49), the regulations relative to the suspension of payment in the Netherlands Bankruptcy Law were revised, the primary object of this revision being to enable debtors to come to a composition with their creditors after the filing of a request for suspensions. On the basis of the requirements contained in article 131 paragraph 2 of the Netherlands Indian Constitution, similar revisions should also be introduced in the Netherlands Indies, and the Governor General therefore decreed, on October 30, 1937, that revisions along the same line as those in the Netherlands Bankruptcy Law be instituted in the local Bankruptcy Regulations. This decree was published in Netherlands Indian Staatsblad 1937 No. 590, and made effective as of November 6, 1937, according to the office of the American Trade Commissioner, Batavia.

Some changes have also been promulgated in Netherlands Indian Staatsblad 1937 No. 590, in the Commercial Code, Penal Code, Regulations for the Judicial Organization and the Management of Justice, Regulations for the Office of Notaries, the ordinance containing the "Prescriptions with respect to Life Insurance Companies," and the ordinance containing "Special Provisions concerning the Granting of Suspension of Payment to Operators of Railways and Tramways" of this country, but these changes are merely consequential modifications to the general revision in the Bankruptcy Regulations.

SELECTED STATISTICAL STATEMENTS

UNITED STATES LIFE INSURANCE FOR NOVEMBER 1937

REPORT OF THE ASSOCIATION OF LIFE INSURANCE PRESIDENTS

New life insurance for November was 3.9 percent less than for November of 1936, while the total for the first eleven months of the year was 4.9 percent more than for the corresponding period of last year, according to a report forwarded December 14, 1937 by the Association of Life Insurance Presidents to the United States Department of Commerce.

The report summarizes the new paid-for business-exclusive of revivals, increases and dividend additions-of 40 companies having 82 percent of the total life insurance outstanding in all United States legal reserve companies.

For November, the total new business of these companies was $681,376,000 against $709,051,000 during November 1936-a decrease of 3.9

percent. New Ordinary insurance amounted to $427,729,000 against $429,081,000-a decrease of 3/10 of one percent. Industrial insurance was $211,409,000 against $236,846,000—a decrease of 10.7 percent. Group insurance was $42,238,000 against $43,124,000-a decrease of 2.1 percent.

For the first eleven months of the year, the total new business of the 40 companies was $8,228,115,000 against $7,846,559,000-an increase of 4.9 percent. New Ordinary insurance amounted to $5,128,400,000 against $4,863,095,000-an increase of 5.5 percent. Industrial insurance was $2,426,168,000 against $2,479,239,000-a decrease of 2.1 percent. Group insurance was $673,547,000 against $504,225,000-an increase of 33.6 percent.

SURVEY OF LIFE INSURANCE SALES RESEARCH BUREAU

According to the monthly survey of life insurance sales in the United States by the Life Insurance Sales Research Bureau, the November average of the United States as compared with November 1936 was 102%. Twenty-six states and the District of Columbia exceeded this average with percentages ranging from 102 to 127%. Kansas, South Dakota, Nevada, North Dakota and New Mexico had percentages of 127, 125, 124, 123 and 120 respectively. The comparative ratio for Delaware was 63%, the lowest of 22 states which failed to maintain the nation's average ratio.

The ratio for the eleven months of this year to that of the corresponding months of 1936 is 104%. Thirty states and the District of Columbia exceeded this percentage; only 18 states fell below it. Maine leads the nation for increased business this year with 115%, followed by Oregon and Michigan with 110% and 109% respectively. In sales volume New York leads, over $1,000,000,000 of new paid-for ordinary insurance (exclusive of group) having been written in that state alone, the amount written for the whole country as of November 30 being $6,604,424,000.

The report divides the country into nine groups of states. Of these the Middle Atlantic Group leads with a sales volume of $1,874,004,000, followed by the East North Central Group with $1,507,518,000. This latter group has the highest ratio for the year with 107%.

Cities above the average for the year were Cleveland, Chicago and St. Louis with 108, 107 and 106%. Detroit and Los Angeles with 105% were also above average. However, New York, Philadelphia and Boston fell below average, the first two cities with 103% and Boston with 102%.

The comparative percentages included in the survey are based upon the experience of 54 companies representing 85% of the new ordinary life insurance in this country. The survey also includes sales trends by size of companies. Companies with over $400,000,000 in force are classified as

Group A; $150,000,000 to $400,000,000, Group B; under $150,000,000, Groups C and D. An interesting fact is that Group A companies maintained both the monthly and yearly average of 102% and 104%, Group B companies a November average of 105% and a yearly average of 104%. Group C and D companies fell below both the monthly and yearly average with 101% and 102% respectively.

Graphs based on data from the Spectator yearbook give the distribution of total insurance by kinds, 1936 which is as follows. Ordinary in force 71%, Industrial in force 18%, and Group in force 11%. New business ordinary 50%, Industrial 30% and Group 20%. Data also appear for Canada with Ordinary in force 78%, Industrial 13%, and Group 9%; New insurance Ordinary 66%, Industrial 24% and Group 10%.

LIFE INSURANCE IN NEW SOUTH WALES IN 1936-1937

According to statistics made available by the Government Statistician, new life assurance business in New South Wales during the year ended June 30, 1937, constituted a record. According to the Office of the American Trade Commissioner, Sidney, the total for which insurance was effected was £23,961,774, compared with £20,754,685 the previous year.

In 1936-37, there were issued 51,389 new ordinary life policies, for a total assured amount of £16,951,591, and 161,943 new industrial life policies for a total assured amount of £7,010,183. The combined total of premiums payable was £1,019, 195.

The increase in number and value of new policies, evident in the previous four years, continued in 1936–37. In the ordinary department, between pre-depression years and 1931-32 the annual number and value of new policies taken out decreased by approximately one-third, but between 1931-32 and 1936-37 the annual volume of new business increased more rapidly than it had decreased.

New assurances effected in the past year in the ordinary department were substantially greater than the average between 1925-26 and 1929-30; and greater both in number and in amount than in the previous record year, 1935-36,

Ordinary Life Policies

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The number of new industrial policies showed, as compared with the ordinary, a smaller proportional decline from pre-depression years to 1931-32, and a smaller relative increase from 1931-32 to 1936-37. In 1936-37, it was substantially greater than in any year from 1925-26 to 1929-30.

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The total number of applications filed in Poland for patents, designs and trade-marks during the year 1936 as well as the number granted during that year for each of these categories are shown in the following tabulation which also indicates the combined totals under each heading for the years 1924 to 1936, inclusive:

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Patents granted in Pol and according to industrial classes during the years 1924 to 1936, inclusive, and during 1936, appear in the table below:

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Applications during the period 1918-1923 numbered 13,320 in respect of patents and 16,693 in respect of trade marks.

SUGGESTIONS FOR THE IMPROVEMENT OF

COMPARATIVE LAW SERIES

ARE ALWAYS WELCOME

WRITE TO THE DIVISION OF COMMERCIAL LAWS

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