New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-01-01
OFFICIAL EXAMINATION
NADHBY
HON. ELISHA. W. BUCKLM,,
Insurance Comssissioasr Of Rhode Island
Mutual Reserve Fund Life Association.
IT'S SYSTEM IT'S ACCOUNTS.
ITS BOOKS AND ITS MANAGEMENT
Officially pronounced correct
STATE OF RHODE IsLAND-lNsURAScE DEPART
MEST.
w. BUoKLrN. Ins Commissioner
PROVIDENCE. December 10th. 1887.
E. B. HARPER. ESQ,
Prssident Mutual Reserre FGnd Life Assocfafson' ~ l.

T..
President Mutual Reserre FGnd Life Association, ~ I.
MY DEAR SIR:
deem II but Just to You and the Mutual
Reserve Fund Life Association, after the careful cx
animation have Just completed OF your Associa,on'
that you should havo an expression from me In my
official capacity. confess to you that this exam
nation was prompted by tho many attacks bronght u
my attention derogatory to you, and the Mutual ho-
serve Fund Life Association, which yu PRESIDE
with tho prejudice that these reports naturally en-
gender, I entered upon my duties with some msg'-
ings, and therefore made my examination very cn'-
,c.l In addition to the information ! able to
gather from the management Of your Association,
met the Hon. Phillip Cheek 1r Commissioner OF In
surance OF Wisconsin, and tho Hon. Charles shandre"'
Commissioner of Insurance Of Minnesota, at your ONCE
and found they just completing an EXTENDED anu
critical examination of your Association. took oc-
cason to consult with them, and in addition TO VIVA.
saw for myself had tho advantage Of what they had
gathered concerning the management OF your Assocla
ton ! found the books and accounts correct IN every
particular and much pleased with your system Oh
checks I'm your accounts, Intended to prevent any MIS-
appropraton OF the funds of the Association II such
an attempt was made, your methods would undouoted
~ causs the discovery Of It at before any injury
could be done
Your system Of compelling the signatures OF three
officers TO every chequc before funds could be paid
out and that order for the payment of such funds
be signed by at least officers IS certainly VOL d.
rected and cannot be improved upon 1t also pleased
me to notc that your Mortuay Funds are Kept IN such
way that Il Is impossible TO encroach upon them for
tho navment of salaries, commissions to agents ana
Ike experses which should and do come exclusively
from YOUR annual les said account being kept scpa-
rate from the mortuary account and In another bahh
your franhness and that OF your co-oficas In Placing
every book and voucher Of the Association at my DIS
nosaI and requesting me to go carefully over thcnn'
fed me that you had nothing In connection Win
he management Of your trust that you feared TO lay
omen for the ms pection of the public.
At the solicitation of Messrs. Taylor Parker VINO
have charge OF the death claim department. was IN
duced to go carefully tho payment OF death cias
and the manner and method Of their adjustment ana
IN nartcuarly investigate your list of resisted death
claims In this list l found but thirteen contested
or resisted claims out OF the payment this year OF
over three hundred and seventy (37O) claims asefe-
eating 81 900 OOO ! careful to note the cause
for resisting each OF these claims and can therefore,
assure YOU In my opinion, you were 1usuhcd III so
doing and It would be Injustice to your members
and reflection on tho management OF the Associa-
tion ~ such fraudulent claims were allowed can
now from pei ,onal knowledge and careful inspection
of your Association, cheerfully recommend 1t to my
constituents in Rhode Island as worthy OF confidence
In every particular.
Respectfully yours,
ELISHA W. BUCkILN.
Insurance Commissioner OF Rhode Island