Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1897-06-27

been licensed by the wisconsin and Mis-
souri, departments.
The Bankers Life. New York. and Bank
ers' and Merchants Life, Chicago. have
been admitted TO Missouri.
The supreme court of Ohio has decided
against the Lloyds concerns and they can
not do business In that state.
John J. Mclean has been appointed state
agent In Missouri, headquarters at St.
Louis. for the American Union.
The local board of Columbus. o., has
voted to write three year policies on mer-
camille risks at the two year rate.
The work Of removing the Missouri state
insurance department from 81. Louis to
Jefferson City will be completed within
the next few days.
Superintendent Van Cleave has licensed
the Safety Fund Life Association of Mound
City, No, to do a life insurance business in
Illinois on the assessment plan.
Fred Van Norman, brother of George r.
Van Norman, who has been in Kansas
City for several weeks, has returned TO
Denver TO engage in the life insurance
business.
The policy holders Of the Manufacturers
Mutual Insurance Company, of Atlanta,
Will be asked 10 pay into the funds of the
company an assessment sufficient to meet
the liabilities OF the corporation.
The American Fire Insurance Company,
of New York, has resumed dividend pay
ments, and declared a 1 per cent dividend
for the six months ending June 10. The
company has earned since January /. 1897,
an amount equal TO IL per cent Of the cap
ital stock.
Charles S. Newhall. head bookkeeper IN
the Agriculture, of WATERFOWL, Boston
office, is a defaulte- and a fugitive from
justice. The amount involved in the in
surance office is not more than 5000 but
there is & bank and church, of which New
hall was treasurer, which are interested
for much larger amounts.
The jury at Mexico, Mo, failed 10 agree
In the suit brought by President Yanceyi of
Ha rnfn Rnl1nna -Nuhn hnIuRhf a XIII nm nOllQV
in the National Life Association, presum-
ing that he was getting a non-assessment
fore he received the policy. When it came
he found IL was assessable. and brought
suit. The case will be fought TO a finish.
The South Dakota insurance department
was called upon to investigate the MeF-
chants Insurance Company. of Newark. on
a complaint of writing a risk in this state
through an agency outside, of the state.
Through the Investigation the department
became convinced that the act was done
through tnadvertence and the companys IL
cense was allowed to stand upon the pay
ment of a fine.
The departments of Illinois, Ohio and
Georgia yesterday made public their re-
port of the recent examination OF the Chi
cago Guaranty Fund Life Society. of Chi
comes out with flying colors. The report
d~eprecates the excessive commissions paid
for new business. but says IL is an evil
due TO the unwise ambition of level pre-
MUM companies.
The supreme court of Wisconsin has re-
versed the decision of the lower courts in
a case instituted by the Manchester, which
held that where a Ompan failed to re-
woke the license of an agent who withheld
collections. 1t could not hold the bonds
men. The supreme court overruleS the de-
cision on the ground that II would cover
any default, whether of dishonesty, negli-
gence or oversight.
Insurance Commissioner DearthL of Min
nesota, has received a letter from President
Whitcomb, Of the Iowa Mutual Life Under
writer's Association, asking him TO suspend
his order expelling the Iowa assessment
In order that they might have time to settle
up their affairs in case the matter could not
be amicably adjusted. Commissioner Dearth
suspended the order until August !.
Judge Harvey, of Indianapolis, has or
dered the transfer of the industrial business
OF the Mutual Life Insurance Company, of
Company, of Indiana, at the same price
and with the same benefits. The Mutual
Life recently went into the hands of a re-
ceiver on account of trouble between the
policy holders and the management 1t had
$500 holders of industrial insurance policies
in Western states.
The Norwood Insurance Company, OF New
York, has made final payment to the Prov
idence-Washington for reinsurance. The
amount was due on July 25. In all the Nor
wood policies assumed by the providence
Washington the cancellation clause has
been struck out. It is said that when the
Columbia Lloyds has paid the S5o,eO yet due
to the Norwood for reinsurance the techni-
cal impairment of the Norwood will have
been wiped out.
The three life insurance companies in
which Thomas Booth. Of st. Louis, ex-
president of the Merchants exchange, car
ried policies a-ggregating $1,000. are making
an investigation of his recent death in a
bathtub at his home. No. 1881 Washington
avenue. in that city. They claim his de-
mise was not accidental, and that at the
time he took out the policies there was no
law on the statute books eliminating sui
eide as a bar 20 the payment of insurance.
Quite a little interest has been manifested
in the rivalry between the Royal and the
Liverpool and London and Globe as to their
annual statements. A comparison OF the
two, which I'VE now arrived in the coun-
try, shows The Royals expense ratio to be
1926 per cent, while that of the Liverpool
and London and Globe is 1923 per cent.
The loss ratio of tbs former is AZ per cent;
OF the latter Al per cent. 1t will be seen
that the companies kept very close TO one
another. On the whole, the Royal made
about $S5O,00O more money on the years
business.
The Northern Pacific Railroad Company's
schedule has again been placed in the rail-
road syndicate by Philip La Tourette. who
now controls ii. A substantial concession
was obtained by Mr.. La Tourette and ii is
understood that Chairman f. B. Adams,
of the company's board, has determined to
have the physical hazard of the entire sys-
TEN carefully gone over. Mr.. La Tourette
will therefore make an inspection and re-
port recommendations for improvements.
II is not unlikely that some of the wood
working and other special hazards will be
equipped with automatic ~sprtnklers.