The Providence news. (Providence [R.I.]) 1891-1906, 1894-10-05
Prussian Business,


The Berlin correspondent OF The Asso-
Gated Press telegraphe under date of
September % as follows: "The matter of
the American life insurance companies
doing business in Prussia, so seriously af-
fected by the new law requiring annually
definite information on oath as TO the
dividends and surplus accumulated for
the benefit OF those insured under the
tontine plan, seems now about definately
settled. The Mutual Life and Germania OF
New York will be the only American
companies that are able. under these sys-
TENS, to conform with the rigorous re-
quirements of the new Prussian law, and
they, therefore, will continue to solicit
as much new business as they can. The
Germania is the only American company
in whose business the Prussian contingent
plays vital part. The Equitable OF New
York has definitely retired from the field,
so far rs obtaining new business is con-
cerned. With the Equitable the Prussian
business is Of no great account, since II
formed but one-ha per cent. of its
total"
Sprinkled Risks.
The executive committee OF the Chicago
Fire Underwriters' Association, has prac-
tically given owners of sprinkled risks
until January l, to increase the efficiency
of the equipment, under pain of a with
drawal of the rebate of % per cent, il they
do not come up to grade after that. I'M
til that time the present rebate will be al
lowed. The association will ask that all
equipments be brought up to date. After
the first OF the year, il this has not been
done satisfactorily, a new schedule will
go into effect, and there will probably be
five grades of equipments. The first
grade will get the full rebate OF % per
cent, the second 20, the third 15, the
fourth TO- the fifth per cent.
Mutual Reserve Life.
The Coast Review says that suits have
been started in California and Utah
against the Mutual Reserve Fund Life.
The company refused to pay policy for
0,000 on the life of Jason A. Rose of
Pleasanton, Cal, claiming as defence that
Rose made misstatement in saying that
he had never been ILL At Salt Lake City,
the executors of the will OF Bolivar Rob-
erts have brought suit to recover sl5, 900.
The plaintiffs ailege that Roberts had ar
ranged with local bank to pay all
that the defendant.
without notifying him, changed
the place OF collection, and there was
therefore an unwitting default of one
that afterward this assess
ment was paid to and received by the de-
fendant with the knowledge that the
payment was not ma within the terms
OF the policy; and that the subsequent
assessments for May, June, July and
August, 1893, were paid to and received by
the association. Roberts died in August.
AT Kansas City, Mo-, Mrs. Mary T.. Bran
ham, widow OF VIC. .Brsnham, Government
paymaster OF Park Rapids, Mimi, who
shot himself in the head at Minneapolis,
last February, has brought suit in the
Circuit Court on a 5000 policy OF insur-
ance issued to her hus band by the same
company. She said tnat she furnished
the association with satisfactory proofs
Of her husbands death, but that IL dis
claims all liability on the policy.
An Assessment Contract.
The insurance commissioners at their
recent convention At Alexandria Raw
appointed q committee 10 request the con-
vention OF assessment companies at
Boston last week 60 suggest a clause de- !
lining an assessment contract. This re-
quest was sat down upon heavily by the |
assessment men I'm the adoption OF the |
following Resolved, that while We an |
preciate the kindly spirit In which the !
matter was presented TO US, we do not |
deem II practicable for this convent !on 10 |
attempt to suggest clause which i'm our |
Judgment would be an unnecessary dupIi- |
cation OF " hat already exists in ali assess- |
ment contracts"
Ollie Iesii's Judgment.