The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-05-10
SOME QUEER FIGURES.
Company Reported Much More Death
Loss than 10 Actually Paid.

The auditor of states report from the
Life Assurance Company of America, which
was signed by Charles +. Buckley, as presi-
dent, and James w. Powers, as secretary,
OF the company, was not satisfactory to the
department and the officials believe that
there is something unusual in the conduct
Of the company. Tn regular statement
submitted the last of the year showed a
total income of s76.163.31, and the total dis
bursements of ss2. 474.H leaving a balance
of $13. $3.50. The statement shows the num-
Der Of policies in force to have been 1887,
of the face value of S3.52i.025. The original
report shows the total losses paid during
the year TO lave been SIS. 002. 40. Auuitor
Hart refused to issue a certificate. The re-
port was in many ways unsatisfactory to
the auditor, and he wrote to a number OF
the beneficiaries named in the original
statement, but before replies could be re-
ceived from them. w. 5. Matthews, as au-
ditor of the company. filed a supplementary
report. This second report showed the
total payments to be the same as those in
the original report, but the actual cash pay
ments given were but ~$7,5Sl.06, or $11, 47o.34
less than the amount reported in the orig
inal statement. This difference was made
up In a column under the heading of
hClS. 0dSl ne 10 htN ~ ND'
heading is an open question. The death
losses paid during the year, as given In the
supplementary statement. We're: o. +.
Wood, cash, 81. 400; J. r. Hurlbut, lien
81, S2s.2 "A, cash $2s5.76. total $1,000; w. A.
Davis, lien $%1,61754. cash s534.46, total s2.oo;
w. A. Davis, lien si04.ss, cash s75.62. total
500; A.. LANCER, lien $685. cash $195.O2, total
s2s5: s. Carmen, lien $3.50 9, cash S3A.sl,
| total 81, 1872: NJ. J. Pryor. lien s2S4.o6, cash
s1S1. "a, total $40: E. A. Wallace, lien $Ss912,
| cash s1Oo.Ss, total $500: Lucy Brant, lien
81. O4e.4 AZ, cash s3O3.5s. total 1850; John Hicks,
| cash 500; William Medsker. lien $i42. cash
s107. 81, total 500: A. n. Drake, cash 500;
John Cordrey, lien s539.72. cash s2l02S. total
$50; David Norton, lien s97e.56, cash Si34.44.
| total $3.50; NJ. Johnson, cash S2a.1o, total
sS75; A. NJ. Stewart. lien s135.75. cash sSSl.S7'
| total 500; F. w. Puryear, lien S6S6.34, cash
81. 90 6, total 5000; r. Tobin, cash $3.50;
]. Collins. lien s1,336.si cash S7O5.4l, total
/ 81 100; Joseph Joiner. lien s257.9S, cash s2ls.4o,
total 500; w. H.. Peterson, cash $40; j.
| Stein, lien ss7s.99. cash sl65.ol, total $3.50.
In the first statement rendered the
| amounts represented under the head OF
total in the supplementary report were
| not i'm any way satisfactory and a certificate
| was refused. Under date of May i, the
4 company wrote To the AUDITOR u Sldlc dsh-
ing liz a certificate would be issued provided
| the company qualified and contemporaries
| under the provisions of the law or 1877
| provided IL eliminate from it's statement OF
| assets single emit liens, and provided
N cease 10 issue its form of single emf
| policy and comply with the law or 1877 IN
| all respects. To this letter Auditor Hart
replied that he had nothing 10 do with the
| reincorporation of the company. as That was
a business matter. of its own, and ne wouiu
only see that policy holders were protected
| To this no reply was received. and the fol-
| lowing letter was TO have been sent &c
| Attorney General Taylor yesterday by Au'
ditor Hart:
Pursuant 10 the provisions of Section i
OF the act Of March, 1883. / herewith cal
| your attention TO the following violations ol
| said law by the Life Insurance Company. oil
America, a corporation doing business under
| said act, and request that you
| the proceedings contemplated by said section
TO the end that its business may be closed
VI.
10 vote and TO hold office TO the subscribers
10 a guarantee fund provided for In its by
laws.
second-The report OF said company FOL
the wear ending Dec. 81, 1896. shows that a
received on account of subscriptions TO such
guaranty fund $4,000. and said amount ap'
pears In said statement as a liability. TIE
IS.. and Dec. n. lSs. does not show the re
payment OF said guaranty fund TO the sub
s~cribers. yet the same does not appear a,