been in the membership less than a year. I declined to join the Buffalo Association because at that time it admitted to membership representatives of made-over com panies, which I considered unsafe. I am glad to say it has none such now. In view of my past delinquency I feel a special obligation to this association. In fact I came here from a sense of duty. As secretary and treasurer of the Municipal League of Buffalo, practically manager of the campaign, it was only through working overtime and hiring special investigators that I could safely leave. It seems to me that this committee has made a great mistake in the award. I can conceive of only two theories which can possibly account for this honor which has come to me. One you might call a psychological theory; the other a mathematical theory. On the psychological theory this award is explained on the basis of the deep impression made on the minds of the judges by the magic number 57, through their having seen it so often in Heinz's advertisement of 57 different varieties. [Laughter.] I put great dependence on this theory. When I was casting about for a lucky number I took this. And when I had notification from your secretary that I had won, it never occurred to me that I had seen it. Now the same sub-conscious reason that led me to select that number must also have influenced the judges. [Laughter.] But if this theory does not satisfy you I have another. Two years ago I heard a college professor say that mathematics helped us to make the decisions of everyday life, and meeting the problems we must meet at every turn. Feeling this, I believe that my luck can be explained on the basis of a mathematical theory. You know that Solomon wrote one thousand and one proverbs. Well, my competitors were as full of ideas on this subject as Solomon was full of proverbs, and inadvertently they exceeded the word limit and were excluded from the contest, and the prize came to me by default. I thank you, gentlemen. [Applause.] President Dolph-The Ben Williams vase will now be presented by Mr. J. Edward Durham, president of the Philadelphia Association. [Applause.] Mr. Durham-Gentlemen, I want you to give Mr. Baker credit for all that is coming to Mr. Hoyt. Our chairman has transferred to me the pleasure of addressing to you a few brief words. The topic is one old yet ever new. Before the dawn of history, from out the twilight dim men called traditions, shadowy forms emerge, with faces drawn and muscles tense, and hearts palpitating with the joy of conquest. They typify the soul of combat; that which spurs men on to high endeavor and leaves the laggard and the coward in the rear. They typify the spirit of unrest, that which lifts men to the heights from which they get the beatific vision, and leaves the dullard and the selfcontent to dreary vistas of the lowland. It is the spirit of that ancient hero, blind with wounds, furious with pain, who asked but this: 66 Dispel this cloud, the light of Heaven restore; Light, light, and even more, light. And from out of those shadowy ranks emerge the champions to do vicarious battle for the nations and for the assembled cloud of witnesses. And from those ranks we hear the solemn hymn of battle swell on the wind in deepest diapason, calling on him who stands for them to put forth the supreme effort victory needs. And in that sacred song imbedded lie the hopes, the aspirations and the destinies of generations then unborn. Now in some such wise it seems to me we may regard this symbol. No base reward is his who wins it, but it carries with it the lofty thoughts of him who first conceived and gave it. It carries with it the fragrant memories of lofty thoughts by it inspired; and on it goodly fellowship of those with whom your name is now to be inscribed. Loyalty a factor in success. Loyalty is that, and more. It is success. All who have striven for this prize have won, no matter what position may have been accorded to them, and they and we as well congratulate you by proxy in that you have so happily expressed your sense of loyalty that to you in turn is given to watch, to guard, and to defend, if need be, this vase which now I hand you. [Applause.] Mr. Baker—I regret exceedingly that Mr. Hoyt is not here to respond. I think, however, as I am his representative at this time that Mr. Hoyt will be a man of very few words The Chicago Association, certainly, will take back this emblem with a great amount of pride as this honor came from our association-Mr. Ben Williams-and we shall certainly be very glad to advise Mr. Hoyt. We thank you most heartily. [Applause.] President Dolph-The next business is the reading of the prize essay. Mr. Porter will read his essay. Mr. Porter's essay was as follows: The man who would become a successful agent must be loyal to his profession, to his company and to his clients. Loyalty involves a faith and confidence possible only when based on an appreciation of fundamental values. He is loyal to his profession because he realizes its service to society and its opportunities for himself. He knows that for most men who die during their productive period, life insurance alone can guarantee their widows a competence and their orphans a fair start in the world. He is aware that the premiums paid for life insurance are largely savings that few would make and safely invest, were it not for the periodically recurring demands of the company. He knows that in most cases the chief source of poverty and its resulting ignorance and crime, is not insufficient income, but lack of the habit of saving and wisely investing. He understands that it is only through spending less than their income that men accumulate the capital, which makes the great industries possible. He perceives the value to society of the annual saving of six hundred million dollars and the function performed in the economic world by the two and one-half billion dollars of life insurance assets loaned to the captains of industry. He is loyal to his profession because he appreciates the moral value of life insurance in broadening men's sympathies, in teaching them that real love for wife and children involves wise provision for widow and orphans. He is loyal because he has visions of the future, of the |