The Indianapolis journal., 1896-01-13


amount to sl,35O,0OO The insurance prem
iums for the year were $.l9O,OOO.
James A Silvey has resigned the presi-
dency OF the American Fire Insurance Com
pany of New York on account or III health.
The Minnesota Fire Insurance Company,
of Minneapolis, organized in 1856. capital
500 000 retired In 1895, and the Springfield
Fire and Marine has taken its business.
A Western insurance publication says the
New York Life has decided to establish
financial branch in st. Louis, and offer
there as soon as practicable. from S,OO0O0O
to so. 00o0o0 to loan on Sond and mortgages
The heirs of Catherine Cling, murdered
by Harry Hayward in Minnesota Tor the
proceeds of the insurance on her life, which
he did not get, will sue the Travellers. OF
Hartford, for the amount on It's policy,
s.. 900.
The business Mems Mutual Insurance
Company. OF Boston, has been authorized to
begin business, having secured the neces-
sary 400 applications for 81, 100000 insurance.
Its officers are: Stephen Moore, president;
Howard Gannett, treasurer and j. II. Her
man, secretary.
a number of prominent members OF the
Western Union have notified the president
that in consequences of the frequent and open
violations Of the rules Of the union as to
large cities, they Will from Jan: ~ cease s,, 70
rules. The cities involved are Chicago, Gin
cinnati, St. Louis. Cleveland and Louisville.
The New York Life announces that It
wrote $127, ,0c0 OF new business in 1875, all
of which was paid for in cash Heretofore
reports of new business of some life COM
panies to the insurance department have
been based on policies issued during the
year, without regard to whether the prem
iums have been received by the company or
not.
Judge Horton, of Chicago. has rendered
an opinion that assessment insurance COM
panies can collect assessments when need
ed to maintain intact the business of the as
sociation. The opinion was made In deny
\ ing the motion OF policy-holders OF New
York company for an injunction to restrain
the collection of an assessment recently
levied.
The Svea of Sweden has appointed as its
United States trustees John p. Townsend.
president of the Bowery Saving Bank;
Robert B. woodward; Formerly Hl,ro9iu OF Plat as 4
dent Of the New York Security and Trust
Company. all Of the city Of. OF @ New York
necticut and write lines in such large cities
as Boston, Philadelphia, Chicago, st. Paul,
Minneapolis and st. Louis.
The semi-annual dividends of the Hart
ford insurance companies. declared Jan. l,
are as follows Aetna Life. 5 per cent,
s75, 900; Connecticut Fire, per cent, SoO,-
600; Connecticut General Life, = per cent,
$50 1000; Hartford Fire, 10 per cent. $4,000;
Hartford Fire, extra. s per cent, 100000;
Hartford Fire and Annuity, per cent, slo,-
600; National Fire, per cent, $4,000; Orient.
s25 Pes eoo. 's"'' '-''''' 30 ~
The new schedule of rates of the Massa-
chusetts life companies which went into
force on Jan. are higher as the result or
mutual agreement on the part OF the
larger companies. The new rates apply to
persons between the ages of twenty and
forty-fve Policies which hitherto paid
premiums of $500 will be raised to $3.50.
Where a man of forty-five could hitherto
insure his life for 1900 in these companies
now paw S39 20. The twenty-one year rate
Is reduced from $3.50 to $3.50. and the
premiums payable by a healthy man OF
sixty-five will be $102.70 instead of s1o5.5o as
heretofore.
The committee on internal trade and inn
nrovements of the New York Chamber OF
Commerce. has presented report on the
subject Of the height or buildings In that
city and favor the passage OF laws by the
LEGISLATURE to limit the height of buildings
in proportion 10 the width OF the street. and
also that all buildings over eighty feet high
shall not occupy more than SO per cent. of
the ground they stand upon, restriction
similar TO one now applied to tenants. That
such buildings shall be provided with at
shafts for stairs and elevators be encased
i'm brick walls and be lighted from above.
The report concluded with the following:
"In Berlin the height of buildings is limited
to the width OF the street, In Paris TO about
so per cent over such width. in Chicago to
half times the width OF the street If no
restrictions should be enforced, there is
danger that high buildings viii gradually
suppant lower ones In parts OF the city
where offices are in request until sunshine
will be shut out from the streets. An in
tense and uncontrollapie IRE may crumble
such building. as similar structures were
destroyed in Boston and Chicago, consume
the contents and Increase the danger to life
from falling walls.