The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-01-28
INSURANCE NEWS AND NOTES.

The Metropolitan Life wrote $S08. 900, 600
statement viii soon be made public, giving
the details of the years work.
The new building of the Manhattan Life
Insurance Company. Of IN N eN. York. was was
was placed by the Citizens Fire at 20
cents for three years with the 80 per cent.
reinsurance clause.
Mutual Reserve Fund Life Association was
held at the home office in New York on
the ed instant, when 1t was officially an
nounced that the ne, ne new w business received
in 1894 exceeded $Sl 100000.
Judge Barrett of New York has granted
order dissoving the. Commercial AL
application of the Acknowledgement, and
making w. T. Gilbert, the temporary
ceiver, permanent receiver.
A valued policy bin is now up before the
North Carolina Legislature and likely to
be adopted. 1t reads that all fire insurance
companies doing business in that State
policies insured on which a premium is
paid.
Edward c. Gay, who was charged with
violating the insurance laws Of Michigan
by soliciting business for the Manufacture
ers' Lloyds, was found guilty in. the Cir
cult Court at Kalamazoo The case will
be appealed to the Supreme Court on a
bill of exceptions.
Charles T. Hopper will succeed William
Bro Smith as secretary of the United
States Mutual Accident Association Feb.
/. Mr.. Hopper is now the assistant Sec
rotary. Mr.. Smith. as has been announced,
will enter the service of the Travellers,
of Hartford, as assistant secretary at the
same time.
The New York Life has loaned 100000
the building which is erecting at West
Broadway and Beach streets, to be known
Strong is the president of the New York
Wool Warehouse Company. which owns
the Exchange Building, and is also tr,,s-
tee of the New York Life.
he SIIit of the T-ninp TuSure nee Com
pany,, of Philadelphia, against the Conti-
mental Fire Insurance Company, of New
cided in favor of the Union, but appealed
to the United States Supreme Court by
the Continental, was finally settled on
amount in full. This suit is the result of
the fraudulent dealings OF the, notorious
Lorenzo Dimick, of Buffalo, who died a
fugitive in Canada In 1885.
A writ Of habeas corpus was secured by
ex-President Midgley, Of the defunct
American Casualty Insurance and Security
Company, from Judge Barrett. of the New
York Supreme Court for the purpose OF
being brought into court and having the
cisimes that his detention Was unjustiea
On Monday last the grand jury of the
Court of General Sessions found additional
indictments against M;dgley for larceny OF
funds belonging to the defunct company.
The executors OF the estate of the late
William N. Runk, who carries upwards
Drought O suits I against a the Mutual Life and
Home Life companies of New York, the
former for $4,000 and the latter for $4,000.
Both policies were taken out only a few
months before RunlS killed himself The
companies refuse to pay and allege that
Runk insured his life with fraudulent in
proceeds might be applied to the liquidation
of his debts and providing for his family.
BY the fiftieth annual statement of the
New York Life, just made public, it APP
pears that the company issued SlS24 new
policies in 1894, representing $780, ,24S.
This does not include old policies revived revived,
surrendered or the excess portion On Install
ment policies over the sum payable il discon-
tinued Immediately after death. Including
revived and additions the figures are 81, 524
policies, representing $685. 1872. There are
277Goo policies in force for sssl3, z9i.16o. The
the sum Of s162. oil no The surplus was
increased by sS,2Co0oo and now figures up
to so, 249, 30i.
The Amsterdam, On. ", Democrat tells
this somewhat misty tale: "A gigantic
swindling scheme to defraud several lead
ing life insurance companies of 100000 is
being unearthed by detectives representing
the companies interested. The case when
brought fully to light will be of more or
ing performed a portion of their operations
in this vicinity. The plan, which will be
brought to sudden termination shortly,
was to do away with an idiotic relative
whom two women had insured for 100000,
which they intended securing after the
demise of the unfortunate Individual who
had been banished from southern section
OF the country to a point not far distant
from Amsterdam. the intention being to
evade the detectives who have been work
ing up the matter.
About two hundred policy holders of the
United States Mutual Accident Associa-
ton attended somewhat breezy meeting
on the 18th TO take steps to reincorporate
the organization as a stock company. a
resolution was adopted in favor of chang
ing from mutual to stock plan, and a
committee consisting OF ]. G. Barrows,
of St. Louis; George T. French, of Chi
cago: G.. r. Sutherland. OF New York; J.
w: Hinkley. of Ponghkeepsie: n. r. Jos.
selyn, of Detroit; George c. knobbe, OF
New York j. b. Phillips. OF Baltimore and
r. J. Arnold, OF New York, appointed to
consider the details of organization and
the methods of obtaining this end under
the law. An assertion by dissatisfied
member that the call for the meeting was
not properly signed and issued was met
by the affidavit of Clerk I.auenstein, which
declared that he had personally mailed
in the general postofffce 5000 notices OF
calls to the meeting. These were properly,
developed, addressed and stamped. and car
ried down to the postofiice on truck.
on the same day Judge Lacoznbe. of the
United States Circuit Court. issued an in
junction restraining the association from
incorporating or reorganzing until loss
o. Sl3.G00 has been paid TO Hattie s. Fibbie
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