The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-18
INSURANCE NEWS AND NOTES.


INSURANCE NEWS AND NOTES.
c. r. Troupe. one of the agents of the
Mutual Life, at Baltimore, placed the enor-
nous amount of $1,73O,000 insurance in
1894 on which the premiums of $4,000 We're
all paid
The annual statements that are now
being made public indicate that the major
United States did profitable years bust
ness in 1894.
p E. Rasor has been appointed assistant
Nmanage OF the hsa eeen e at
with the German-American Insurance Com
pany for twenty-one years.
Once more the plate-glass compact is
broken the Union Casualty and Security,
of ST. Louis, having notified the members
of its Withdrawal Cut rates and retala-
ton seem to be the order of the day.
pohss nsr Ct edTss h has
Superintendent of Insurance OF that State,
to succeed S. X. Snider, on July next.
The nomination has not yet been confirmed
by the Senate.
A jury at Utica, N. Y, has rendered a
verdict for the company in a suit against
the Commercial Travellers Mutual Acct
the defense having been that the insured
man was drunk during the two days pre-
ceding his death.
years 1,5OO short-term endowment and as
sessment companies have collapsed. These
mutual concerns originated IN the days or
for their members ever since when not or
ganized on exceptionally safe lines.
The Philadelphia Press urges the Penn
decision of the Supreme Court affecting
the standard fire policy, to re-enact the
form OF policy known a. fne standafd IRE
legislation and securing the advantage of a
policy Identical with those in use in New
York. New Jersey and other states.
g. rA -
Joseph. Mo-, made necessary by the very
inadequate fire protection provided by the
authorities, and on account or other haz-
ardous conditions, has disgruntled property
owners. The Argus says that one insurance
agency alone has lost lines aggregating 81,
100000. although the companies comprising
during last year.
The Equitable Life is adopting very con-
sentative methods in the conduct OF it's bust
ness. Particularly is this the case in foreign
lands. 1t is understood that the company Is
contemplating withdrawal from business
In large part of South America. 1t has de-
cided to write no more new business in Peru
and Bolivia. Experience has no doubt shown
that the business secured In these sections
is not of profitable character.
In his Forthcoming report Insurance
Commissioners Mansfield, OF Connecticut.
will make some important suggestions for
legislation. In regard to the investment of
sioner says: "A law on this subject similar
to the law regulating: the investments OF
assets of insurance companies, certainly
so far their capital or any other fund
in the nature of a trust is concerned, should
be so invested that financial depression
would affect them to a minimum degree,
and never ought they to be invested with
troling that COZ of security' He ADVISES that
stockholders obligations shall not be al
lowed as assets or treated as capital unless
the same are secured by competent col
lateral.
The Insurance Spectator, of London, of
January, 1895. contains a summary of the
life insurance business of the world for
1898. The reason given for it's delay IN pub
fishing the figures is the siowness of some
of the German companies in compiling their
mary number I'll, divided as follows: Ger
man. 40; British. IS: French. II; American,
satted to Nfw s HSr 81 "
dollars to the British pound, the total new
business written in 1893 was $1,379. 1896. 40
OF this sum the thirty American companies
wrote 1888 ,523,s 15, or. over GA per cent. The
average size of policy was M,975 The ac-
cumuiated funds amount to S. 965, $40 27O
The eighty-sx British companies and the
thirty American companies have nearly
the same amount of funds about one bill
S42S,931 265. A noticeable thing in this con-
nection is that while the American premium
1865, the interest receipts were respective
ly SAG 4OS,l6O and SAG, 423,Sl5, or almost the
same.
A strange story is told in dispatch from
and his twin brother came there from New
Orleans nine years ago and opened ware
house on Colborne street Among those en-
ployed by them was William Wells, a young
man. While making repairs at the foot of q
freight hoist in January, 1893, the weight
which balances the hoist became unlocked
in some mysterious manner and fell on
Wells's head, killing him. Wells's life was
insured for s36,000 payable to his sister
Martha. Shortly after coming into posses
sion of the money Martha married Harry p.
Hyams. The HyamS brothers abandoned
the warehouse and opened an office as
money-lenders and brokers. Later Mr.. and
Mrs. Fl. p. Hyam- removed to Montreal.
Recently Applications for s2So,000 insurance
on the life of Mrs. Hyams were made In
each instance the application described he I
Mrs. Martha Wells Hyams, of Montre al,
born March IL, 1870 in Somersetshire, Eng
land. The applications were with the Eaui-
table Life for $780, coo; Mutual Life of New
York, $4,000; Sun Life. $4,000; Standard Life
of Edinburgh, $4,000; Standard of Edin-
burgh (additionaD, $4,000; United States
Life, $4,000; Mutual Reserve Fund, SIS 600
and Confederate Life $4,000. Mrs. Hyams
learned the amount of insurance which had
been placed. She be came alarmed, and con-
suited Horn 6, Jarrett. harristers, of Toron-
to. She refused to return TO Montreal with
her husband, and insisted that detectives
should be engaged to remain at the house
of her brother-in-law, in close View to
guard her night and day. a detective was
engaged and remained in the house several
days Lawyer Horn wrote to the various
companies, asking for the cancellation of all
policies. Several of them responded with
alacrity. but the Mutual Life declined to
cancel its policy, and a writ was issued to
compel it to do SO. The issuance of this
writ made public the story.