Kansas City daily journal., 1897-02-07
Insurance Notes,

Louisiana and Mississippi losses for jan
| uary are reported very heavy.
1t is said that the new insurance law OF
Wisconsin repeals the valued policy clause
Fred H. Kidder has been appointed re-
ceiyer of the Eastern Mutual Fire Insur-
ance Company, of Boston.
The American Underwriters Agency of
| Jersey City, n. j., has been incorporated
with a capital stock of $5O,OOO
The directors of the Associated Manufact-
| urers' Mutual, of Brooklyn, have voted to
sustitute cash for premium notes.
The new business in 1896 of the Mutual
Life in California is reported to be 1852,
O0O; New York Life s., 600; Equitable,
s., 800, 200.
An ordinance has been introduced in the
CITY council at Ie Denver taxing each fire in
nected with an office SIS.
Premiums reported in Michigan for 1896
are N,262,SI2 and the losses S2,92l, ,S9S. The
premiums on inland marine business were
$l66,4O4, and the losses S162,3 1856.
The question of reissuing license to the
RebuilderS' Fire Insurance Company, of
Minnesota is under consideration by the
insurance department of that state.
A bill to prevent combinations among fire
insurance companies has been introduced
in the Nebraska legislature. 1t is almost
verbatim copy of the Blanchard law in
Iowa.
Insurance Commissioner Matthews says
that he will not interfere with the
attempt of the LloydS to write insurance
in Ohio pending u decision by the supreme
court.
the name of the former Assurance Lloyds.
II has just reorganiZed in New York with
S20c,OOO capital and net surplus Of an
equal amount.
The Manufacturers and Merchants Mu-
tual, OF rockford, has appointed i. S.
Montgomery acting secretary until the va
cancy caused by the death of Major George
S. Roper can be filled.
The North Dakota lepiSla t1Ire has naSsad
bill taxing insurance companies doing
business there per cent on gross earnings
for 1896 and 2i2 per cent thereafter. The
code had no tax provisions before.
Following the retirement of the New
York Central Lloyds comes the announce
ment that the Brewers and Maltsters
Lloyds and the Syracuse Mutual Fire In
surance Underwriters will also give up the
ghost.
Stockholders of the Texas Life Insurance
Company. of Austin, have effected a reor-
ganizauon by electing directors and Off
GERS, and will soon be in position to re-
ceive Il license from the insurance depart
ment of that state.
The Iowa senate rescinded its action re-
lating to service on insurance agents and
passed a section which makes services
valid on general and recording agents. This
let's the farm mutuaIs out, as they have
no recording agents.
Senator Burns has introduced a bill in
the New York legislature amending the in
surance laws by reducing the amount
CURED to place in the hands of the insur-
ance department from $500 600 to $3.50, 900.
Secretary Thomas S. Quincy of the Star
Accident Insurance Company will soon
evolve q plan to combine life insurance
with his accident policies. This will be
done by some arrangement with a life COM
pany or by the organization of company.
The Home Insurance Company has COM
menced suit against the city of Omaha to
recover on warrant for 1865 o. issued De-
cemher %, 1881, TO pay the damages aris-
ing from the condemnation of property
laker for opening Canton street between
Thirteenth and Fourteenth streets.
A bill has been introduced in the Virginia
legislature creating an insurance depart
ment. 1t also requires a deposit from each
company, permits no company to do busi-
ness with less than 100000 capital and
taxes all companies in any kind of COM
pact per cent of their premiums
The United States Key Registry Com
p2ny, which has been insuring keys in its
own company and insuring persons
through the United States Casualty Com
pany, has been advised by the Minnesota
insurance department that it cannot write
both kinds of business under the laws of
that state.
The Southern Insurance Companv. of
New Orleans, is making arrangements TO
enter Illinois. The company is capitalized
at $5OO,OOO, and has over half a million of
assets. A contract by which the Southern
reinSured one-half the business of the
Germania in the Chicago field expired Feb
ruary l.