The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-14
INSURANCE NEWS AND NOTES,

The Pittsburg Life Insurance Company. of
ital of 100000.
Charles b. French has been appointed assistant
manager of the Western department of the
cago.
a. P. Riddle, who has just been appointed in
years been connected with fraternal benefit in
surance orders in official capacities.
The twenty seventh annual meeting of the Fire
be held at the Auditorium Hotel, Chicago, Sept
70 and 30 The proceedings will close by the
election of officers, and, pursuant the usual
custom of alternating the presiding officer from
ager will probably be chosen.
The Central National Bank, of which Mayor
Strong, of New York, formerly president
city, the property Nos. 800 1922 and S24 broadway
and he in turn transferred it to the Central syn
sideration. Mr.. Sattery and his wife have mort
gagged the property to the New York Life In
surance Company for 81, 400. 000.
Arrangements have been made by Commission
ers Merrill, of Massachusetts; Fricke, of Wis
consin, and Waddill. of Missouri, to begin an ex-
animation of the Guarantors' Liability Indemnity
Company of Philadelphia, on Sept. Is. Since the
refusal of the Guarantors' to submit ex-
animation by Superintendent Durfee of Illinois
the company to do business there, the Guar
antors' has voted to increase the resources by
the addition of 100000.
The United States Circuit Court at ST. Louis
has decided against the company in the suicide
clause in the case OF Mrs Arcadia L. NARROW
against Economy Council No. 215, National
Union! The plaintiff brought suit to recover on
policy for So, coo the life OF her husband who
committed suicide in 1898: The company refused
to pay the ground that it was a fraternal
beneficiary organization and such came under
the statutes governing the payment of policies
in similar instances. The court held that it was
not in reality a fraterna beneficiary organiza-
ton, but an insurance company, and as such
liable
The death of Samuel Colt. of Washington. D.
c., few days ago, reduces to nine the number
of survivors of the original two hundred and
fifty men who organized the Mutual Life, of New
policy in the Mutual Life on March 2S 1S43 for
5000 it was No. 1885, and he was twenty four
policies for 1000, the one referred and an
amount of dividend additions declared on the
policy for $4,000 was s. geo 90, from which in
of premiums. leaving a balance on the policy
of 1891, which more than doubled its value as
on this policy amounted to S. 207 90 in fiftyfour
years. Deducting the $1.571.70 cash dividends
surance to Mr. Colt was for u fif tRe
years. beginning at 5000 in 1913, and ending with
Sc. 301 in 1896 death claim. In 1871 Mr. Colt
81 600 The ividends declared on tbi oi, @
ceptng 81 post-mortem dividend were ali sur
due a death claim.
An opinion has been recently handed down bv
Justice Hiscock, of Syracuse, n. Y, which will
be OF interest TO every netpber of the Mutual
Reserve Find Life Association. 1t rendered
on a demurrer made by the association to a COM
which ne demands that the reserve fund after it
members. The demurrer was set aside Swan
claims that by the of his policy in the
association the net earnings and a certain per-
centage of each assessment to be invested
for the benefit of the members, and he alleges
this has not been done, but demands in his com
plant that it be done. The judge says: 1T
would seem that, relying upon the truth OF the
allegations in the complaint. the defendant had
violated an agreement with the plaintiff
would entitle him to relief in a court of equity
that there sufficient allegations TO state and
constitute cause Of action, and that the plain
tiff, assuming that he shah finally estab-
fish his COMPLAINT, would be entitled
to relief This ii test case and it was pro-
vided that interlocutory judgment may be
prepared overruling the DEFENDANTS demurrer
with costs, and allowing the defendant to
answer.