The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-25
INSURANCE NEWS AND NOTES.

Major Charles T.. Gilbert has been APP
pointed assistant secretary OF the Aetna
Life.
W. IT Woods has been reelected president
and ID. 3. Halstead vice president or the
Lloyds Plate-glass Insurance Company
There are forty-four mutual fire insur-
ance companies chartered by Massachusetts,
exclusive of the manufacturers mutuals.
A bill to compel medical examination
of every applicant for lie insurance has
islature-
Frederick 3. Faneher has been appointed
insurance commissioner OF North Dakota
He is a native of Orleans county, New
York State.
The number of policies in force JAM /,
1885,, by three Industrial lie insurance COM
panies of this country was 6 49e,gs1, insur-
ing $766 231 1856, an increase of 1,Ol6627 poll
cies and $131, 318590 of insurance last year.
The Commonwealth Mutual Fire Of Bos..
the Massachusetts insurance department
has called upon its policy holders prior to
JAM last for assessments to make good
it's impairment of $l4O9S.
The suit of the heirs of DIR. Fraker, OF
Excelsior Springs, Mo-. against several New
York life companies for S41,0v0 insurance,
has, according to a dispatch from Kansas
City, been settled out of court by the in
terested companies for $S3,OlS.
The appeal of the father of Cecil Ham
brough, who was mysteriously murdered at
ArdlamOnt year ago, asking Tor a Judg-
ment or a neN trial Of his action against
denied by the Scotch courts. The elder
Hambroilgh sued to recover on two policies
of $4,000 each.
The Alabama Senate has passed and Gov
ernor Oates has signed, the bill requiring
life insurance companies, before they can
contest the payment OF po,icy OF ns .1r nee
premiums they have received from the
insured, and in event fraud Is proved and
the suit decided in favor. Of the company,
all Of the premiums shall be paid over to
the heirs of the assured under the policy.
Judge Beekman. of the New York Supreme
Court has rendered an OPINION ~ lavor On lne
and the insurance company OF the state
of Pennsylvania, in the action which they
brought against the Central Trust Com
pany, the Continental Insurance Company
of New York, and Kate f. Dimick, as
eXecutriX of the VIII OF Lorenzo n dni Tex
cost and expenses which the plaintiffs were
put to in arbitration proceedings for the
settlement of all actions arising out of
the Dimick cases. The. items of damage
amount to $iS173.45.
In this column last week was given the
substance Of a strange story from Toronto.
to the effect that two brothers named Harry
Place Hymas and Dallas Il. Hyams.
ea anat the ey death cf Wsm wes on
Jan. &c. 1893, to obtain the insurance on
his life. which had been taken out in favor
were arrested, charged with the crime.
Wel's sister married Harry Place Hyams
% it due to rne .ac VAS that aaed VERY
him upon her life. which led to the present
action of the authorities Several years ago
the Hyams brothers conducted real-es-
city. and another brother is a millionaire
banker in New Orleans, who was for many
years a part owner of the, Louisiana Lot
terry Company
An important bill which has been intro
duced in the Connecticut Senate provides
that whenever upon the annual statement
of any life insurance company. 1T shall APP
pear by the commissioners valuation of its
policies and estimate of the amount of its
reinsurance reserve and surplus, computed
upon the basis of the socalled actuaries
on combined experience table of mortuary
with compound interest at 4 per cent. per
annun1, that the assets of such company
exceed it's liabilities =, including It's reinsur,
policies and estimate OF it's reserve and
surplus shall be made by the commissioner:
but IL such valuation and estimate shall
show that the liabilities aforesaid of such
company exceed its assets then the com
missioner shall proceed to make an addi-
tional valuation of such policies and esti-
mate of said reserve upon the basis of the
socaea eMnerehcG te at az
/ per cent"
The United States Casualty Company, of
New York. has filed a certificate. of in
absorb the business 81 the United states
antee and Accident Lloyds, Of New York,
and also that of several less prominent
concerns. The incorporators of the new
company include Gen. Benjamin +. Tracy,
Charles S. Fairchid Charles r. Flint and
Robert A.. Chesebrough who are prominent
in the Guarantee and Accident I4loyds;
also William D. Chase and William H..
Chesebrough, the attorneys to the associa-
ton. Other names are those of Chauncey
NJ. Depew, Perry Belmont, Thomas G. Plat,
William r.. Grace, j. Edward Simons, Ros-
well r. Flower r. r. Wilson. Henry r.
Booth. Walter G.. Oakman, James w. Hinck-
ley, Frederic r. Coudert, William p Aid
rich. NJ. r. Worthen. Frank 5. Bond and
Louis ID. Collins. The formalities of trans
Mutual Accident Association to the new
company, 1t is understood. will be completed
about March J. The officers OF the United
states Mutual Accident Association said that
the Investment Company of New Jersey ha $
relinqnishe,. all claims upon the former,
a paid-up capital of 100000 and a net sur
plus of $50 600.