The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-09-29
INSURANCE NEWS AND NOTES.

The Chicago Fire Underwriters Asso-
citation has adopted a rule that premiums
for fire insurance shall be payable in cash
upon the delivery of the policy.
The twenty-per-cent. advance in fire in
surance rates in certain Western States,
made effective since Aug. l. has been sus-
pended throughout Iowa, and at Beloit,
Madison and GAINESVILLE, Wis.
The organization OF the Northeastern Life
Insurance Company, of Manchester, n. H.,
has been completed b. the election of it's
officers. Hon. Charles Fl. Chamberlain was
chosen president and Governor John G..
Smith vice president.
In response to inquiries the Secretary Of
State of Missouri says that he considers the
various bond investment concerns as fraud
ulent, and that the Encouragement will
ask the Supreme Court, at its approaching
session, to declare their charters void.
The August fire loss in the United States
and Canada was S13, 222, 200, and more than a
million dollars in excess of the previous
month. The August loss for 1892 was S10,-
las, 800, and in 1891 it was $9,055, 100. The ag-
gregate loss for the first eight months of
1898 was s111, s24OOo, against $S7, 112. $50 for
the same period of 1892, and SIS, SO2, 40 in
1891.
Charles F. Vail, of st. Louis, who had
damage suits for $4,000 pending against
both the United States Mutual Accident
and the American Accident, of Louis
Alltg dlC OCll Ndh was OAOl Z
with the murder of his wife for the sake
of getting the insurance, but was acquit-(
ted. 1t is thought that his death will prob
ably terminate the suits.
Figures have been compiled showing the
management expenses to mean amount of
insurance in force of twenty-eight life COM
panies for the past twenty years. This
compilation gives $3.50 on each $1,000 of in
surance in force as the expense for 1873,
while in 1892 it was S1e.75 per $1,000. The
average from 1885 to 1887 was 1910, and
from 1888 TO 1892 5000, the previous five
year period. from 1878 to 1882, being $3.50.
The Mutual Life claims credit for the in
auguration of the war upon rebating by the
life insurance interests. President McCurdy
sent q telegram to the Il cent convention of
the National Association of Life Underwrit-
ers held at Cleveland, in which he expressed
the sentiment that his company not only
strongly condemned the practice of rebating
but that the first bill making II a INSIDE
meanor was drawn in the Mutual Life Of
flee, and was enacted into law through
the unaided effort of that company.
A Topeka dispatch says that the Prov
ident Trust Company, one of the largest
holders of Kansas mortgages, has notified
its agents there that it is closing its Kan
sas business as rapidly as possible. and any
extension of loans is impossible. 1t appears
that Eastern bankers are fighting shy of
the financial schemes of those in power in
Kansas, and 1t seems likely that until the
death Of crank legislation is assured East
ern money invested in Kansas will be with
drawn as rapidly as possible. This means
trouble for thousands of farmers.
The Peoples Life Insurance Company,
at Newark, ~. j., which is undergoing a
process of organization, has a new scheme.
According to it's prospectus the plan is to
issue q simple twenty-year endowment poll
icy, each one to be for $500. The policies
will be issued in series of $50. In each Sc
- - ~ iii -
every year and its full face value paid to
the legal holder. Each holder will thus
have a twenty-year endowment life insur-
ance policy. and will also have the chance
of his policy or policies being redeemed and
paid in full at any time during the life Of
said policies.
Rev. DR.. stephen H. Tying, who will be
remembered as the rector many years ago
of the Episcopal Church of the Holy Trim
ity, New York, is the European manager for
the Mutual Reserve in Paris. Quite re-
Gently he suffered a severe a~ffliction in the
painful death of his only daughter. Blanche,
who, when left alone by a nurse, found a
box of matches and while playing with
them set her clothing on fire. The child
was horribly burned and died within a few
minutes after its removal to a hospital.
Both parents were absent at the time, Mrs.
Tying having gone. out shopping and the
father being absent on business in England.
The mother was Frustrated on returning
and finding her child dead.
The Supreme Court has rendered an i'm
portant decision in an insurance case where
the evidence bore upon an application for
a pension. It was in the suit of one Ma
haney against the Mutual Reserve Fund
Life Association. the action being on a
policy of life insurance where the defense
was Misrepresentation as TO the age of
insured. Plaintiff introduced a number Of
witnesses who testified that the insured
was, In their opinion, of the age stated in
the application. These witnesses were not
relatives of the deceased. The company
showed that the insured, on two occasions.
eleven years apart, had, in applying for
a pension, stated her age so as to make
z! her older than the statement in the appli-
cation, and that the record of the birth of
her daughter showed that that event took
place when the insured. according 10 her
application, was only ten years old. The
court decided that a judgment for the
plaintiff should be reversed as contrary to
the evidence.
Suicide of a Salesman.
WHEELING, w. Va. Sept. 2S.-Wiliam
McCombs, of this city, salesman for the