The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-10-20
INSURANCE NEWS AND NOTES.

Cincinnati is the headquarters of a new
company which proposes to guarantee
rents.
The Mutual Life has paid So,453 on the
life of E. s. Francis the defaulting cashier
Of the Pittsfield National Bank, who COM
mitted suicide,
Cincinnati, with it's steep inclines and
rapid transit electric system, is coming
into an unenviable prominence with &C
cident insurance companies, owing to the
extraordinary list of accidents that have
happened there of late.
Two Pennsylvania insurance companies,
the Mutual Fire of Beaver county and the
Cosmopolitan Relief Association, have
been ordered to show cause why they
should not be wound up. The charges are
insolvency and violation OF charters
Charges against the Queen City Mutual
Benefit Life Insurance Association have
been filed with the Ohio Insurance Com
missioner. 1t is said that the concern has
not filed the necessary papers with the
Commissioner, and that ii is issuing a pol
icy promising to pay a fixed sum.
Maj. Ben S. Calef, of Boston, the present
Boston manager of the Manhattan Life,
has been mentioned as likely to succeed
the late John DeWitte president of the
Union Mutual Life Insurance Company, Of
Portland. The directors will probably elect
a new president within the next two weeks.
The Denver Insurance Company has been
absorbed by the Royal of London. The
Denver company will return to Stockhold-
ers the entire capital and surplus of $780,
ties. The absorption was made because OF
the discouraging outlook in fire insurance
circles througout the coutry.
Mr.. Jeffrey Beaver has retired from the
management of the United States branch
of the London and Lancashire Insurance
Company, which he conducted many years.
1t is understood that he designs TO open
brokerage establishment in London chiefly
for the reinsurance of the surplus risks of
the company in this country
The annual meeting of the Western Union
at Niagara Falls was important, both on
account of the matters before it and the
way in which those matters were handled
The unit rule and excepted cities We're
both abolished. Had these things been
ance matters would now be in much better
shape.
That is, indeed, an interesting condition
of affairs at Council Bluffs, Ia, where
fire department are under arrest charged
with arson. That town would seem to
present a strong invitation for the appli-
cation of the universal mercantile sched-
ule. as we'll as a rigorous enforcement of
the criminal code.
The advent of the new life insurance COM
pany to be founded by Mr.. p 3. Armstrong
is announced. 1t is to be called the Amer
lean Union Life Insurance Company of New
York. Its capital is TO be 100000, and il is
TO be sustained by five hundred charter
members, each of whom is TO effect a life
policy for $50 coo, completing aggregate
insurance of $25,0O0,0OO.
These are the days of harvest of most
insurance companies, well those of
the product of the SOIL The long-sustained
business depression has made itself felt
among the customers who were called
upon to pay the premiums, and, unable
to respond, their policies are Cancelled.
Thus, and by such adversities in the case
of some, is the pyramid of lapses made to
grow and big insurance palaces rear their
heights alOft as a result.
All those interested have for several days
been industriously denying a rumor which
gained considerable currency that Mrs.
Meyer wife of Dr. Meyer. the poisoner, had
turned States evidence. Meyer is the man
who awaits trial In New York for attempt
ing to swindle insurance companies by OBJ
tanning insurance policies on their lives and
then poisoning the victims. He was run 10
earth after long hunt through the agency
OF Manager Gillette OF the Mutual Life.
The rumor is waited hlther from the
Kansas plains that Insurance Commits
sioner Snider, of that State, proposes to
examine every insurance company doing
business In the State including, OF course.
all those companies that have undergone
thorough examination at the hands OF In