The evening times., 1896-08-18
NOT LICENSED IN NEW YORK
National Capital Life AssOcia-
ti0n Has Difficulties.
CAN'T DO BUSINESS THERE
State Superintendent Advised Policy
Holders of Industrial Benefit Com
surnnceinthe w Washington Company.
President GiIman's Statement.

Albany, N. T., Aug. lS.-State Super
inteEdent OF Insurance Pierce announced
today that the department has Lcen in re-
ceipt OF numerous communications from
members OF the Industrial Benefit Asso-
ciauon Of Syracuse, which is now in the
hands OF receiver, stating that they had
received through the mails from the Ma
tioDal Capital Life Association of Wash
iDgton, d. c., policy of insur-
ance issued by that corporation in
place OF the one held by them in the In
dustrial Benefit Association, accompanied
by circular 10 the effect that if they de-
sired TO continue as heretofore they could
send the assessment TO the corporation at
Washington
The superintendent desires 1t understood
that 1t has been the invariable rule OF the
department TO advise all persons not to ac-
cept insurancein unauthorized corporations
He says:
STATE sUPERINTENDENT's NOTICE.
The National Capital Life Association
Is not authorized to transact the business
OF insurance in this State. Persons accept
ing policies do SO at their own hazard
The company has no attorney on
whom service OF process can be
made. and 10 case of q desth
loss and the company's refusal to pay the
claim, the beneficiary has no recourse
through the courts OF this State. Persons
acting for the corporations should be re-
ported to the district attorney of the county
wherein the business is solicited, aud IL that
official finds the facts are sufficient he will
undoubtedly prosecute the offender
-
For several weeks past a story has been
going the rounds of the New York State
press to the effect that the National Capt.
tai Life Association of this city has. with
out authorization, attempted to claim the
business of the Industrial Benefit Asso-
citation of Syracuse, and that State Super
intendent of Insurance Pierce has advised
all policy holders OF the latter company
not to accept insurance in the Washing.
ton company, as it has not been licensed
by the State.
PRESIDENT GILMAN'S STORY.
President Gilman of the National Capita,
Life ssocia ton, when seen today, said that
the statement gave an entirely wrong I'M
preston His side of the story is as fol-
lows:
when the Syracuse company went into
the hands Of a receiver on the 1st OF July
last, the National Capital Company. which
issues a policy very similar to that sent
out by the insolvent company, merely as
a business move, and without any preten-
sion to authority, sent out policies to all
members of the latter association and Ioti-
fled them that they could continue their
insurance by re,nitting the premiums to
Washington in the future. AS to- the liza
bility of the company in the State of New
York, it will have as good financial stand
ing as any other as soon as license to do
business in the State of New York is issued
them by the State superintendent of insur-
ance.
"supt. Pierce has already been notified
OF the company's intention to do so, and
whether they get license or not now
rests entirely with him.
HAVE PAID MANY CLAIMS
Even without the license, however"
continued Mr.. Gilman, We have paid hun
dretis OF claims in New York without con-
testing one
1.-THE National Capital Life Association
was chartered in 1890, under the laws OF
West Virginia. 1t has a present member
ship OF IL 900 and distributes benefits
amounting TO upward OF $40, 900 blmonth.
Iyto deceased members in every State in the
Union.
The story is canard, 1 think, put for
ward by interested persons in New York
who perhaps desire TO buy in the defunct
association. That Superintendent of Insur-
ance Pierce h as advised any one not to do
business with company because it is rot
licensed by New York State utterly dis
believe, asst would render him ridiculous in
the eyes of ali insurance men,"