The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-04-20

The Empire City Insurance Company has
decided to enter Massachusetts, Illinois,
Pennsylvania. Ohio and Missouri.
Harmon H. Fulton, a wealthy bicycle man.
ufacturer of Elmira, N. Y, has just taken a
policy for 500, 900 on the continuous INSTALL
ment plan in the Mutual Life qf New York.
The Iowa Legislature has passed a bill to
crease in capital stock of companies and
corporations, amended so as to include for
eign insurance companies, and exclude cream
cry and mutual fire associations.
The bill in the Ohio Legislature providing
for the publication in two newspapers of OPP
posite political complexion of the names of
all insurance companies doing business in the
State under a license granted by the Insur-
ance Commissioner has passed the House and
is now a law.
The Buffalo Commercial Insurance Com
pany, with a capital stock of $500. 600, is near
" ready for business. Agencies will be estab-
lished at many of the large cities through
out the country. The company is practically
under the same management as is the Buff
falo German.
The Iowa Senate has passed a bill which
makes it a felony for an insolvent insurance
company to issue policies. The penalty Is
not exceeding five years or Imprisonment in
the county Jail not to exceed one year, or a
fine not exceeding 5000. or both fine and i'm
p-risonment.' The act does not apply to pure
ly mutual assessment companies.
Sieg Tynberg. jr., has been indicted by the
New York grand jury for procuring a policy
business S'i IN New York State. He gave bonds
In the sum of $1,000 TO answer. He is the
attorney and general manager Of the Broad
way Lloyds and the New YORK and Lon
sued by the Old Colony Mutual Insurance
Company Of Boston.
A bill has been introduced in the Assembly
at Albany, ". Y. which makes a drive at
the salaries paid to officers of insurance
companies under the generic title of q bill
Ito limit the amount of salaries to be. paid
to be paid TO the officers of a corporation
viii a capital stock of 100000 is $4,000 a
year; to a S.OoO.cO company; $4,000. II the
capital stock exceeds $1,000. 900 there is no
limit to the salaries thai may be paid.
Insurance Commissioner Hahn. of Ohio.
has been in New York. examining the Mu-
facturers' and Great Western Lloyds, TO as
certain whether their condition is as satisfac-
tory 10 him as on their recent examination
Tor "a, admission rsca L loYss: step sTor WAS taken Ha because
amined the New Jersey State Fire Associa-
ton and United Cities Lloyds for admission
The commissioner, IL Is stated, found the
eight Lloyds in good shape
William T.. Midgely. the president of the
former American Casualty Insurance and Sc
curity Company of Baltimore. who was on
burger in the New York Court of General
Sessions, charged with fraudulently obtain
ing a check for 81 600 from the former insur-
which he was a member, has been discharged.
Judge Newburger charged the jury to acquit
Midgely on the evidence presented by the
prosecution, as no criminal act or intent had
been shown.
The Texas Life Insurance Company has
completed organization at Tyler. with a capt.
tai of 800. 900, by the election of officers. H.
III. Rowland, the m of the company,
Is president of the First National Bank Of
Tyler and a weli-known business man. Presi-
dent Rowland says that the object OF the
new company Is TO encourage the people of
Texas TO a business and patriotic effort at
checking the tremendous drain upon their
pockefbooks made by foreign companies In
annually taking out OF the State between