The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-02-24

The City Council of Richmond, KY, has
adopted an ordinance imposing license tax
of $50 on each fire and life insurance COM
pany doing business in that city.
1t is reported that Thomas F. Goodrich will
soon resign the presidency of the Niagara
Fire Insurance Company. OF New York, to
accept a more advantageous position.
A bill has been introduced in the Massa-
chusetts House TO change the Massachusetts
standard fire policy so as 10 make the con-
tract void If the premium is not paid within
thirty days.
John W. Stedman. who was Insurance
Commissioner of Connecticut from 1874 to
1880, died suddenly at Hartford a few days
ago. He was seventy-fve years old, and for
merly an editor.
The Metropolitan Life of New York
showed assets on Jan. /. 1896, of SIS. 900.
the gain during the year being 100000.
reached $94.0oo.00o.
The Kentucky Fire Insurance Relief AS
ISOLATION has been organized at Franklin,
president and s. p. Sheppard. of Louisville,
as secretary and treasurer
w. NJ. Alternately, formerly Kansas State
agent OF the Home Life, of New York, has
for alleged back salary and percentages due
him 10 the amount of $4,000.
Ex-Governor ID. r. Francis. of Missouri.
has been elected president of the Covenant
Mutual Life Insurance Company, succeeding
Edward Wilkerson. who had been the head
Of the company for twenty-five years.
Ex-Governor Pattisons of Pennsylvania.
has been reelected president of the Secur-
Insurance Commissioner George ID. Luper
has been elected second vice president and
also manager OF the agency department.
1t Is stated that all fire insurance COM
panieS doing business in the Indian Terri
tory have agreed to cancel their outstand-
ing policies IL better protection against
fire is not furnished in the towns, where,
as rule. cheap and unsubstantial struct-
ures are put up.
The Insurance commissioner OF Connecti-
cut has caused the arrest of John Macrae.
a life insurance agent at New Haven, for
giving a rebate in mis- commissions to one
Charles III. Miller. who had taken out life
insurance policy i'm the United States Life
The accused gave bond TO answer the
charge.
j. Rush Ritter. of Philadelphia, who died
suddenly In Toronto. Canada. carried 800 coo
OF life Insurance. The insurance companies
VIII investigate the circumstances attending
his death: Mr.. Ritter was the former real
estate officer of the Solicitors Loan and
Trust Company. His gigantic specuations
brought about the assignment of the COM
pany and the ensuing complications with the
Tradesmen's Bank.
bill has been passed in the Senate at
Albany which provides that no buildings
shall hereafter be erected in New York city
OF a greater height above the curb level at
the center OF the front than fifteen times the
square root OF the width of the street. road
or avenue on which IL Is erected. and when
ever any shall front on street over one
taken TO be one hundred feet in making this
calculation Buildings in course OF erection
or for the erection of which plans have al
ready been fled with the Building Depart
ment. are exempted from these provisions
In the latter case they must be commenced
within sixty days from the passage of the
act.
Superintendent Pierce OF the New York
insurance department, has made public the
result or his recent examination of the
Manhattan Life Insurance Company of
New York. The report OF the examiners
and appraisers OF the company's real es-
tate and securities, Mr. Pierce declares
meets with his hearty approval The ex-
animation. which was made as of June 30
last. shows assets of S14el3.9 72. OF. OF which
S.Ss5.21f was in bonds and MORTGAGES and
$S,Soz. $3.50 in stocks and bonds. The real
estate is valued at S.SS2,500. The liabilities
show net reinsurance reserve of Si2S53.
Go. Other items bring the total liability
on policy holders account to $l3 O75 253 al
leaving a surplus on the same account of
S92S,71s.55. The annual statement of the
company TO Dec. q, 1895. also lust made
public. shows total payments TO policy
holders since organization OF S3S $50 600 The
Insurance. In force Jan. /. 1896. was SIS. 6l2-
Ia, and the assets on the same date ST.
4s5,ffl-32- The surplus, combined experience
per cent, was 81 .052 1869. The income
during 1895 was S2,775. 634.36, and the paw
ments to policy holders during the year
<.6241 1000