The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-07-25


a combination burglary and fire insurance
policy.
William r Summerville, of this city, has
been appointed general agent Of the Fidelity
Mutual Life Insurance Company of Phila-
delphia for Indiana He was formerly with
the PRUDENTIAL
J. G. Cloud, representing the Casualty
Company of America, which is organizing
in New York with a million dollars CAPT.
tai was in the city this week for the pur-
pose Of selecting a general agent for In
diana.
E. NJ Goodwin has been appointed Office
superintendent of the agency department
of the State Life Insurance Company. of
this city. He was formerly with the w.
A. Hamilton general agency of the Mutual
Life Insurance Company at Terre Haute
XXX
The State Life Insurance Company, of
this city, made good progress during the
first six months of 1903. Insurance written
amounted to s9.641.5Oo. a gain of s3,T70. $50
over the first six months of 1852. The in
come for. the first half Of 1903 was s7SS,9Si.
a gain of S250,510
A bill has been introduced in the Georgia
Legislature proposing to tax the cash sur
render values of life insurance policies.
similar attempt was once made in Indiana
and ii only after a lively battle that
ii was defeated Such a measure would
materially increase the cost of life insur-
ance.
Pittsburg. Pa, during the last year has
taken a sudden squirt into prominence as a
life insurance center through the organiza-
ton of the Reliance Life Insurance Com
pany, with 100000 capital and the Pitts
burg Life and Trust Company, which has
just increased its capital from 100000 to
81, 0OO,O 600.
The German Fire Insurance Company of
Indiana has ceinsured so per cent of the
business of the Farmers and Mechanics
Insurance Company in Kansas, which
State the latter company has been conn
PEELED TO leave because of the passage by
the last Legislature of law requiring
companies to have at least 100000 of capital
stock if they are to operate in Kansas.
XXX
The Home Insurance Company of New
York paid &,391.67 in taxes on its business
in Indiana for the first six months of 1903
the greatest amount ever paid by a fire
insurance company on a half-year's bust
ness in the State. This indicates that the
losses have been comparatively lighter for
that period. since the taxes are based on
net premiums that is, with the losses de-
Quoted. A number of life companies, how
ever, exceed the amount paid by the Home.
The New York Life has made the largest
payment thus far, over $4,000.
XXX
II will be remembered that the Indiana
Association of Hardware Dealers, which
met in this city some months ago. deter
mined to organize mutual fire insurance
company to insure the members of the as
ISOLATION, and that, when they made in
quiry o. the state insurance department,
they found that the laws of the State
would not permit of the plan they desired
to carry out in their organization. Appar-
emily they have not been daunted, for 1t Is
now reported that they are negotiating with
the Manufacturers Mutual of this city to
become class mutual to write hardware
risks exclusively.
American Medicine advocates the passage
of laws preventing the medical examiners
departments of life Insurance companies
from exchanging information in regard to
applications for insurance by persons who
have been rejected. Most of the leading
companies long ago entered into this ar
rangement, so that, when a person Is re-
jected by one company, the possibilities are
that he will also be rejected by the next one
he tries because his record has preceded
MS dDpDCdClOn 10 the StCOHu Company.
The American Medicine maintains that this
is a violation of rledcal confidence and
should oe prohibited by law.
Walter Hammond, of Hammond Ind,
was appointed receiver of the Equitable
Insurance Company of this city on July 16
on petition of M. NJ. Lieberman, of Chi
cago The Equitable is one of the Indiana
special charter companies which have
gained unenviable notoriety through their
many failures and reorganizations under
new names. The significance of the present
receivership of the Equitable seems to be
but vaguely understood, but whatever the
outcome may be the owners of the charter
may, when the receivership is dismissed, re-
vive the company under the same name
another, If they so choose, and continue In
business as long may be convenient.
One of the conspicuous successes among
eminently successful life insurance agents
is George Pick, of Milwaukee, who repre-
sents the Northwestern Mutual Life. He
has record OF over l.000,0 of new bust
ness written each year for the past eleven
years. He has been successful that it
Is claimed jealous competitors have at
times engaged detectives to follow his work
i'm an endeavor to show that he has allowed
rebates on the regular premiums, which, If
discovered, would have meant dismissal,
but they were unsuccessful. He is only
thirty-four years old and has the income
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