The Providence news. (Providence [R.I.]) 1891-1906, 1894-11-15
INSURANCE.


agents oil that company, hltnerto report-
ing to Francis NJ. Stevens, resident secre-
New York Office.
Long Island Mutual.
The Long Island Mutual Fire Insurance
Company OF Patchogue, has chosen the
10 lowing officers: President, George ID.
G. rard; secretary, Robert ). Pelletrau;
trsssurer. James w. Edgett. The stock
holders Of the company are principaIly
business men of Patchogue, Bayport ana
Bellport. Each stockholdex has sub
seribed for $500 OF stock.
Insurance Feasts.
The New York city mpnager of the Ma
tional Life of Montpelier, VT, j. L. Mack.
ley, gave a banquet TO the local agents oil
the company at the Colonial Club last
week on the occasion OF the visit OF James
T.. Hong hton. treasurer of the company,
and James II. Phelps trustee and general
agent at Boston, 10 the metropolis.
The Equitable Lille entertained its west
tern Pennsylvania and Ohio agents at
dinner at the Duquesne, Pittsburg, last
week. Among the Equitable magnates
present were Third Vice President 1Arbell
and ex-State Auditor Poe of Ohio.
Springfield's Complaint.
The Springfield, Mass, newspapers are
exercised about the action OF the New
England Insurance Exchange in reducing
rates only 5 per cent. in that city,. Con-
gidering the improvements In the nre ce-
fences, they think that at least 10 per
cent. reduction should be granted.
American Lifes I'm England.
The London Insurance Observer has this
to say of the influence of American hie
insurance companies upon British life
underwriting: "British insurance COM
panies do business in the United States,
and have no reason to complain OF
the warmth OF their reception, or
the popularity OF their presence.
American assurance companies come here,
+. and while their great and growing busi-
ness testifies To the esteem in which they
are held by the public, they have been
treated in some quarters with bitter
hostility as mistaken as it Is inhospltable.
There can be no doubt that the pres
ence of American offices in this
country has had great influence for
good. The beginning of the great devel-
opment OF life insurance in this country
was coincident with their arrival. The
new and active competition, the importa-
tion of fresh ideas and methods,
aroused British officers TO clearer
conception of what was really required by
tho public; and, from this, fresh forms OF
policy, general liberaliZing OF terms and
sonditions, and an all-round increase of
business have resulted. Healthy COM
petition Is good for all, and especially for
ths public. Many distinctively American
forms of policy have been copied or adopted
tn their entirety by British offices, the
obligation In some cases being frankly
acknowledged. AS the years have passed,
and wider knowledge aud better feeling
have made their way, pronounced opposi-
tion to American companies has dwindled
until IL Is practically confined TO a small
and peculiarly select circle"
Salt Water I'm Boston.
\ Boston business men have petitioned
1he Board of Aldermen for an appropria-
tion for the Introduction OF system OF
pipes for salt water service for the use of
The Fire Department at cost Of $4,000.
Canada Farm Risks.
A dispatch from London, Ont, says: ga
big Insurance deal has just been completed
whereby the London Mutual Fire Insur-
oncc Company takes over all the agricul-
tural farm risks held III Canada by
the Agricultural Fire Insurance
Company, Watertown, n. Y. The trans
action, which means he assuming OF be-
tween IS, ,0Oo, 900 and s8,O00,0Oo in fire risks,
nas been brought about by The Water
town Company's determination to dis
continue farm and agricultural insu-
rance In Canada and devote it's
attention exclusively to protected
xosidences and mercantile property. The
Iondon company assumes the risks on a
pro rata basis. Some of the policies have
only . few months to run, while Others
pany had carried Canadian farm risks for
~ years."
Associated MutuaIs.
Twelve mercantile mutual fire insurance
companies of Massachusetts, Pennsyl-
vania and New Jersey have organized the
Associated Mercantile Mutual Fire Insur-
ouce Companies OF America, for the in
opection OF risks snd the dissemination OF
intormation. The officers are; presi-
ssas s:ssia.ut, E. colsy cGHyIs' ..eresafs, s,Gs,
!. X. Wheelock. The executive commit
toc II composed of the above and Ray
mond Hayes, William q. Hall and G. w.
Holden. There will be chief inspector,
whose headquarters will be in Philadel-
phia ~ a more central location, but the
dirsction of the bureau will be in Boston.
Staten Island Jurisdiction.
The Tariff Association OF New York has
voted to transfer its jurisdiction over
Staten Island, except the shore line ware
houses, to the Suburban Underwriters'
Association. Ii Is understood that this
acction will result in a general rating of
oil risks on the island, there being no
general rating at present.
An Anti-Rebate Trust.
Fire insurance agents at Minneapolis,
MIMI, belonging TO the local board, have
formed an association to put down rebat-
ing and return commissions, and have
formulated q pledge to that effect, which
3 agencies have signed and 10 have not
yet signed.
United States Accident.
It Is rumored among the probabilities
that the United States Mutual Accident
Association will be transformed into a
stock company with 100000 capital on
the first OF next January.
Absorption.
s The National Accident Insurance Com
psny OF Boston, recently organized, has
absorbed the World Insurance Company
Of that city, assuming the name OF the
latter. Both are assessment societies.
Making Money.
A The directors OF the Commercial Union
OF London, ordered an ad interim dividend
( at the rate OF az per cent. on the paid-up
capital for the year 1894, to be paid No
vember 2.
Infant Insurance.
A Chattanooga dispatch says that Il il
believed by the Tennessee State Board OF
f Health that the pracficq 81