The Providence news. (Providence [R.I.]) 1891-1906, 1894-10-26
INSURANCE.
Lottery Insurance.


The federal aut horiries at Chicago have
arrested Ex-Governor John =. Beveridge
OF Illinois, II. ID. Arnold aud 3. M. Biddi-
son, who are charged with violating the
postal laws by practicing lottery
scheme through the mails. The
men are the president, vice president
and secretary treasurer respectively OF
the so-cailed Mutual Life Insurance,
which Is alleged to be an imitation in its
methods OF the late Guarantee Investment t
Company, which had trouble with the
authorities. All the parties to the case
gave bail and were released.
Lloyds Clrcularixing.
The Chicago press says that the Lloyds
are flooding the Western mails with circu-
lars addressed to agents of regular fire
insurance companies. A Chicago paper
says: "Recently some of the agents have
received as many as six Of these circulars
in a single day from different Lloyds in
different parts of the country, with pro-
position to pay fifteen per cent. commits
sion, and an intimation that II more was
needed to get business the Lloyds people
would psy whatever was necessary to
secure it."
That Washington Beneficial Deal.
The affairs of the Washington Beneh-
cial Association of the District of Colum-
bia, were formally brought into court at
Washington recently, when, through
its president, Lawrence Gardner, 1t filed
bill in equity against the
Commercial Alliance Life Of New
York, praying for a decree annulling the
transfer last August OF the property and
business of the complainant to the defen-
dant; for an Injunction restraining the
defendant from interfering with the
! same; for the appointment Of receiver,
and for such other relief as the
court may deem proper In the prem
ises. The complainant AYERS that
the New York company Is insolvent, was
so at the time the transfer was made, and
because its true condition was concealed
the contract made with the Washington
association was null and void. An argu-
ment was had before Judgs Lawrence of
the Supreme Court OF this city on
Thursday upon application OF the Attor-
General, for the appointment OF
receiver to wind up the affairs Of the
Commercial Alliance Life. The Judge
adjourned the hearing until today ut the
request OF the company.
The Growing Lloyds.
1t is understood that the number of
Lloyds now doing business In this city Is
about sixty. On the subject of official
sction to stem this growth The Spectator
has this to say: "rhere seems to be
general impression among insur-
ance men that the New York Insurance
Department has been perfectly passive
over the Lloyd's matter, - nothing has
shown on the surface. We have been in
formed that the department. has spent
considerable time in looking into the
various Lloyds concerns, and frankly
confesses its inability to check
their operations, although 1t would be
perfectly willing to act II proper
information, backed by evidence satisfac-
tory to legal uthorities, were forthcoming.
One examiner from the department re-
Gently spent three weeks In New York on
this matter, and secured no less than
twenty-five affidavits from as many
Lloyds concerns to the effect that
they had all been organised prior to
| October, 1892. Consultations with the
district attorneys Office were had, and
tho department officials were told that
unless they could bring positive evidence
of violation Of the law nothing could be
| cutting and not detective officer"
Actuarials.
The semi-annual meeting OF the Actu-
arial Society Of America was held In the
| Mutual Life building q few days ago,
when valuable papers on life insurance
| topics were read by George II. Salter,
| William Hendry and w. ID. Whiting.
| Subsequently 60 members dined at the
Insurance Club.
Jones Wasn't Dead.
A Pittsburg dispatch says that suit OF
Mrs. Martha Jones to recover $1,000 from
the Fidelity Mutual Life Association Of
Philadelphia, on policy on the life of her
late husband, has been brought
| to o remarkable and abrupt termina-
| tion. The defence produced in court
| q deposition and photograph of the sup
posed dead man, showing that he is now
living in England. Jones disappeared in
December, 1899, and few days later Mrs.
Jones identified the body of q railroad
victim as that of her husband.
Chicago Rates.
The conference of Iowa State and nom
Union Fire Insurance Companies with
| Union managers on the question of rates
| at Chicago has resulted in tho adoption
| of this agreement: "From and after the
| first day of December, 1894, we will
not either directly or indirectly
pay commissions to our agents in
| the State OF Iowa In excess OF
| Is per cent. except that greater COM
mission may bo paid on farm property,
/, when written by non-recording agents,
| but not exceeding 22 per cent, and
| in no event shall the recording
agent OF any company receive
greater commission than 10 per
cent. on any class OF business. This agree
meut to take effect when75 per cent. of the
Iowa stock companies and 70 per cent. in
number OF nom ident, non-union COM
papies doing business in the State OF Iowa
sign this agreement, or in lieu OF 75