The Providence news. (Providence [R.I.]) 1891-1906, 1894-06-05
INSURANCE.
Charter Oak Life Receivers Report
Cost $3758 TO Collect 1856.

The semi-annual report of Isaac w
Brooks and Edmund A. Stedman, re-
ceivers OF the defunct Charter Oak Life In
surance Company, has been filed with
the clerk OF the court. IL shows that on
oct. i, 1888, the receivers had on deposit
70: During the six months from Oc-
tober,. 1893, to April, 1894, the interest
collected by the receivers upon this de-
posit amounted to $1109.26. A note held
by the receivers TO the amount
OF sSO0 was also collected,
and other incidentals brought
total receipts for six months up to s1464.-
76. The disbursements for the same
period were as follows: Compensation
to receivers, 5000; legal ex-
penses, sss7.5o; clerical expenses,
s4So; rent OF office $500; all with incidentaIs
making total of s675s. 40. OF the s146l. rs
collected $1109.26 was interest money
SO that s675S.4s was the ex,
pense of collecting the remaining
sum which was S355.50. The policy
holders number II, ,000 and they have OBJ
Jected most strenuously TO the delays and
enormous expenses incurred, but TO no
effect. They have sent letters to the re-
ceivers begging and imploring speedy
settlement and dividend.
American Employers Reduces Capital.
An official notice is being published In
New Jersey which is occasioning great
surprise In Massachusett insurance
circles. 1t certifies that at q meeting of
the American Employers Liability Insur-
ance Company OF New Jersey,
duly called for the purpose
held on the 26th day of April,
at the Office of the company in Jersey
City, II was resolved by the vote OF
more than two-thirds of the interest
q hA ~ III kAlA T. 4
pany that the total capital stock of
the American Employers Liability Insur-
ance Co., viz, 100000, should be re-
duced to the sum OF f100, 900, to consist
OF one thousand shares at par value of 300
per share. The notice is signed by a
majority of the directors, as follows:
John i. beggs, president; John Macrae,
secretary; Jonathan III. Crane, treasurer;
Hamilton Wallis, p. Stamford Ross, John
]. Tucker, Otto Eidlitz, Charles Il. Wills,
A. Spadone and Henry Sibert.
The Equitable Mutual Fire of New York
has decided to establish Western branch
offices in Chicago, which will be in charge
of Messrs. II. c. Nibback & Co. as general
agents.
The territory embraced in the depart
ment comprises the states of Illinois,
Michigan, Wisconsin, Minnesota, Iowa.
M Missouri, Indiana and Kentucky.
"A commission Is to be appointed to re-
Use and codify the insurance laws of the
State of Ohio.
IL the commissioners would revise about
,ine- tenths OF the laws, as the old man
aid the wise men did the New Testament
by knocking - out of it-no great
,arm would be done.-[Insurance Investi-
,ator.
The insurance on stock of Gilchrist &
o., b and Winter street, damaged to the
'xtent of 200 Saturday is as follows:
iirard, Philadelphia, $500; Atlas,
england, $500; Reliance, Philadelphia,
25O0; Union of Pennsylvania, $500: |
Y este Eester. N. Y; $500: Sun. England
900; American, Pa, $500; Springfield,
25OO; American OF Newark, 5000; |
'iremen's Fund, $1,000: North |
British q Mercantile, $500; |
N. Y, $1,000; Firemens,
newark, 800; Commonwealth Mutual, |
'oston, 5000; Manchester, England, |
2 500; Etna, Hartford, g, 500; Guardian,
England, $1,000; Equitable, Providence,
z,oo; Commercial Union, $1,000; Pala-
inc, $500. Total s57, 500.
JACOB F. NJ. LYONS.