The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-05-27
Insurance MezvS and Notes

stephen G. knight has been appointed re-
ceiver for the four Lloyds which have been
operated by Farmer & Thompson, of Chi
cago-the National, Northwestern, Inter-
state and Standard. With the collapse of
this group but few of the many Lloyds
which were thriving in Chicago few
months ago are left Since the several re-
cent CONGREGATIONS insurance institutions of
this class have found that the public passed
them by when securing insurance, prefer
ring that which is more secure. Thus the
Lloyds have been compelled to accept a
poorer class of risks and have suffered cor
respondingly heavier losses. As these con-
Germs are only fair weather sailors, 1T is not
probable that others will be organized to
any great extent until more desirable condi-
tons are restored.
The danger to which an agent exposes
himself in representing an unauthorized
company was again demonstrated last week
when an agent of Iowa was held liable for
the amount of a policy which he had placed
in company not admitted to the State, and
on which the insured was unable 70 collect
from the company. The same ruling has
been made in number of cases In Indiana.
Many Chicago wildcats keep flooding
the country with their literature ana are
continually inducing agents to undertake TO
represent them.
The New York Insurance Department
has not issued license to any fraternal
insurance order for several years past
and he's even declined to consider their
applications in some cases. There are
number of Western orders which are anx-
ious to enter that State and are now
threatening to force their way in by means
of the courts and mandamus proceedings.
: 7
A number of fires have already occurred
on the grounds of the ST. Louis exposition
and, in the majority of cases, the cause
has been discarded cigarettes or cigars.
The officials are now exercising extreme
vigilance to prevent more fires from this
cause.
H w. Buttolph, actuary of the Indiana
insurance department. is in New York this
week attending the annual convention of
the Actuarial Society of America. Mr..
Buttolph is the only member IN Indiana.
Admission is gained only upon the success
full passage of a severe test as TO the ap-
plicants knowledge of actuarial science.
Elaborate entertainment was provided for
the society in New York, as a number of
the larger life insurance companies Wed
with one another in displaying their hos
ed President, Israel c. Pierson; vice presi-
dents, Rufus w. Weeks and Daniel II.
Wells; secretary, John Tatlock; treasurer,
Archibald A. WEIGH: executive council,
JOHIl ~ OOIc anu y. M craig.
The annual report of the insurance de-
partment of New York shows that the life
companies which report to that department
have insurance in force aggregating s9241.-
2I3, 431. Their assets aggregate 81. 226 423. 202
They received in premiums during 1903 si3l,
SS9,093, and. with rents, interest, etc, had an
aggregate income of 1884. 161 $50. The num-
Der of policies in force in these forty-two
n a 4
exclusive of industrial business. In this
branch six companies reporting to the State
insured 13.S51.624 persons for s1.901 260, 023
Besides these great aggregates there are
many millions more of life insurance car
ried In the companies which do not operate
in New York and are therefore not in
cluded in this report. And in addition to all
this there are the several billions of life
insurance carried by the fraternal orders
and assessment associations, altogether
demonstrating that the American people
are sincere and practical believers in life in
Surance.
The figures of the forty-four stock cas-
ualty companies as reporting to the New
York insurance department for 1903 show
that they had combined assets of $40. lO7, 025
combined capital of SIG, I'll 2l4. The premium
receipts for the year were Sal. .093, and
there was total income Of s45. .034
Losses paid during the year were sl5.920, 159
total disbursements. $685.. s93: excess in
come over disbursements. s6.02614. Follow.
ing is a summary of the premiums and
losses Of the eight branches of casualty bus
mess