The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-05-15

| burg Savings; Portsmouth. OF New Hamp-
shire. and the Insurance Company of Penn
sylvania.
William r. Vredenburgh has been ap-
pointed temporary superintendent OF In
surance In Illinois as successor 70 Henry
Yates, who died suddenly a short time
since. Andrew Russell, banker of jack
sonville, has been mentioned for the ONCE.
The Chicago fire department has been
severely criticised for its inefhciency at
several fires, a total loss Of $4,000 having
recently occurred, when, IL Is charged the
fire could have been extinguished without
trouble IL care had been taken by the fire.
men.
Two legislatures have passed laws this
year declaring that suicide shall not be set
up in defense on a suit on life insurance
policy. The companies in these States will
certainly look after the mental condition OF
their prospects before offering them large
policies.
The unearthing of the remarkable frauds
which have been carried on in New York.
coupled with the discovery of similar cases
In Texas and Mexico. have had some effect
In reconciling the public to the custom OF
life insurance companies In resisting claims
which have suspicious air.
The Travellers Life and Accident Is push
ing bills in the different legislatures which
will require liability companies to have a
reserve which will be maintained for each
| suit or action pending on account OF a poll
| icy holder, and for injuries reported under
such policies within eighteen months.
XXX
peculiar accident caused a 100000 irs
| in Akron. o., recently. While boy was
| emptying a gasoline can he accidentally
1 loaned hack and Touched q N MIR
sending a current through his arm with
such force that the sparks from the ends OF
, his fingers caused the gasoline vapor TO ig-
mite.
| The Atlanta Birmingham Fire, which a
being organized, with T. ]. Dargan as presi-
dent. will have resources OF 100000, con-
sisting Of $4,000 capital and 100000 sur
! plus. "A number OF prominent business
men of the South are associated with the
plan, and shares are on sale In different
| agencies in the Southern States.
The Western Insurance Company Of
Louisville has retired from business, and
will reinsure in other business. Part OF
( the business has gone TO the Hartford Fire.
| The reason assigned for the retirement
| is excessive taxation. This Is the third
company TO leave Kentucky on account Of
the heavy taxes on insurance companies.
The Tenants Fire Underwriters prob
ably the best of the Chicago Lloyds' Asso-
citation. has withdrawn from business All
the policy-holders have been rendered their
! unearned premiums. The cause OF the
withdrawal of the organization was the
contest the insurance department OF ILL.,
nois is having with the less reputable
Lloyds in that State
| The London Life Association, which was
| organized in 1906 and which has resources
| amounting to more than s25.o00,0o0. issued
| only $50 policies during the year 1899. with
premiums amounting TO $4,000 The COM
| pany is an excellent one, and the business
/ is conducted at very low expense. but
the absence of soliciting accounts for the
| small business done. IL seems that the
agent is the man who gets the business.
after ALL
| The affairs OF the North American In
surance Company OF Boston. which was
| found 10 have an impaired capital have
| not yet been settled. At a meeting OF the
| shareholders several were I'm favor OF nqui-
dalton, urging that very few OF them knew
| that the company was writing only sur
| plus line business. A motion was made to
| make an assessment on the stockholders.
| but substituted motion 10 appoint a COM
mittee 10 consult with the directors was
| carried. This committee Will report on
the desirability of making an assessment.