The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-07

policies of this company will he paid at
maturity in gold or its equivalent
The New York Life Insurance Company
| has begun a suit to foreclose a mortgage
| for 1915 ono which it holds upon the prop
| erty of the Detroit Chamber of Commerce.
| on account of default of interest. 1t Is
estimated that the property is worth twice
| the amount of the mortgage. Rentals
| from the building aggregate $4,000 year.
The Knights and Ladies of Industry. a
St Louis assessment concern, has gone out
of business owing to the fact that il was
impossible to secure enough new members
Iapses The order is to be congratulated
upon the rare fact that all obligations have
been paid thus leaving it with a clean bal
ance sheet.
The late Hamilton Disston, of Philadel-
phia, carried 81 900. 900 insurance on his life.
OF this amount $15o.0eo was in the New
co., the Mutual Life 100000 and the North
western Mutual $4,000 The remainder was
and foreign life companies in sums ranging
from 100,G00 which was the amount car
ried by the British Empire of Canada, to
5000, which was held by the Connecticut
General, and was the smallest sum written
by any company
During the hot SPELL in New York the
ment of the Metropolitan Life Insurance
Company numbered LII, aggregating
s167, 1888 Normally the company pays about
1000 claims, or in the neighborhood of
$124, co., per week. This abnormal increase
of deaths was attributable to the hot
wave. OF these 1 I'll claims 299 gave sun
stroke, prostration and like effects of ex-
ceSsive heat as the cause of death me
company will pay at least $2S,225 to the
families of the assured in consequence of
the heated term.
Managers of most fire insurance compa-
MES doing business in the West report
decided decrease in premium receipts for
July, as compared with the same month
last year. The decrease in receipts has
been most noticeable in the large cities.
&c fjr,1ot tod NV nhSarUi0cr M q a
that Chicago premiums decreased three
times as much during July, when com
land, indianapolis, st. Paul, Minneapolis
and St. Louis have decreased greatly in
premiums. Merchants are carrying no
actual demand. The moral hazard was
never greater. A large American fire in
surance companys Western manager has
issued letters to his field men, showing the
great necessity of careful inspection along
this line and the reasons for it.
President James G.. Patterson of the
Travellers Insurance Company of Hart
ford, has written an important article in
favor of government examination and SUI
pervision of insurance companies, in the
course of which he says: THE conviction
is growing that the general government
will have to take this matter in hand and
by the adoption of uniform system SUI
pervise the business in the interest of the
pubic at large, protecting the companies
from forty-fve State supervisors and pro-
tecting the public from insurance adven-
turers and swindlers. The business has al
ready become so vast that its proper man
agement is of national concern A policy
of life insurance should have the same
present and future value in one State that
it has in another, and the same standards
of safety should be required. The inter-
ests are too large for exposure to the va
carries Of State legislation and the vista
tons of commissioners who have no local
companies in the States which they repre-
sent. In some States the taxes are more
than double the requirements of others;
but they want the insurance for the same
premium which is paid in States where
there is little or no tax"