The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-02-19

The Official estimate OF the Baltimore loss
is S125,C00,0oO. with S75.oo0,OOO insurance.
Joseph A. Kelsey. United States manage
of the Aachen and Munich, was in the city
last week
The American Central Life Insurance
Company of this city has been admitted to
Michigan.
Major Marsh. of the Interstate Life As
surance Company Of this city, Will soon go
to Michigan to superintend the entrance of
that company into that field.
The American Standard Bearers of Craw-
louisville, a fraternal insurance society,
has been merged with the Order of Ameri-
can Plowmen.
The Greenwich of New York, one of the
oldest fire companies in America, has re-
insured its business in the Commercial
Union of England.
Five companies have been admitted to In
diana this week. The Des Moines Life,
New Jersey Plate Glass, Casualty Company
of America, Globe and Rutgers and the
Minnesota Mutual Life
The indianapolis Association of Fire Tn
derwriters held a meeting this week and
passed resolutions on the death of Colonel
/ Norris. who for a number OF years was
chief clerk of the local inspection bureau.
Frank T. Sloan, who has been inspector at
Evansville under Manager T. NJ. Goodloe,
has taken a position with Marsh. Ullman
& Co., of New York, as electrical inspector.
+
H. n. Kelsy, well known i'm this city, has
been advanced to the managership of the
Western department of the Sun Insurance
Office, succeeding j. j. Purcell. This de-
partment office is located in Chicago and is
recognized as one of the most important in
the West.
The years 1902 and 1903 showed a small
proportionate profit in fire underwriting for
the companies. but the five years, 1898 to 1902,
inclusive, showed an estimated net fire un-
derwriting loss of $4,000. 600. The Baltimore
conf1agratiOn viii add greatly to this I'M
profitable record.
A number of the superintendent of the
state insurance departments have sent re-
quest to the companies involved ia the Bal
timore fire for sworn statements as to the
amounts Tor which they are involved;
Among the departments which have asked
for this are those of New York,
Iowa, Illinois, Nebraska and Ohio. The In
diana department will not issue such a re-
quest.
William 7. Renallack, president Of the
National Association of Electrical Inspect
Ors, and one of the most prominent efec-
tricians in the country, will deliver a lee
ture next Monday afternoon at ? o'clock in
the Masonic Hall on the Fire Hazard from
Electricity" The lecture will be illustrated
with numerous burn-outs from defective
wiring, and examples of standard ~installa-
ton. He comes as the guest of the Indi-
ana field men of the fire insurance COM
panies. No admission will be charged, and
those interested in the subject are invited
to attend.
+ 7 +
The foreign fire insurance companies
which were caught for large amounts in the
Baltimore fire are being commended for
their method of disposing of the losses.
Those which were called upon for the larg-
est sums are paying claims direct from the
foreign home offices, thus preventing any
Impairment of the strength of their United
States branch offices. Among the companies
which have adopted this plan are the Liv-
erpOOl and London and Globe, of England,
Royal, of England, Northern Assurance, of
London, British America, OF Toronto, West
ern Assurance, of Toronto, National, of Ire
land Aachen and Munich, of Germany and
the Sun Insurance office, of England.
OF all classes of insurance, that in which
rates are most sensitive to changed condi-
IlOnS Is marine insurance, or the insurance
of vessels and their cargoes against the
perils of the sea. Every war rumor that
came from the East during the past six
months has been registered accurately upon
the barometer of marine insurance rates.
Now that war is actually i'm progress. the
charges for insurance upon vessels destined
for the vicinity of the troubled waters of
the North Pacific are very high. Marine
insurance is largely written by Lloyds at
London. This is one of the oldest insur-
ance organizations In existence and main
tainS the most complete and searching sys-
tenn of information concerning vessels and
hidden reefs, and, in fact, all matters per-
tanning to the safety of ocean traffic that
is possible. Membership I'm the associa-
ton can be purchased only at a high price.
This gives the holder the privilege of sub
Scribing his name to the various risks
offered TO be UNDERWATER for such amounts
as he may desire. Claims are paid with the
utmost fidelity, as the failure on the part
of q member to meet his honest losses is
followed by expulsion. Not only are marine
risks undertaken at Lloyds. but hazards
Of almost any description. Thus assurances
are often effected which would be impOssi-
BILE in this country, where they would be
claSsed as lotteries or gambling, pure and
simple. At Lloyd a person may secure in
surance for any venture which he is about
to undertake.. If the hazard is not too great,
If the chances for success are fair, he may,
by the payment of a stipulated premium,
insure the success of his undertaking.
? +
The Evansville water system is in a crit
ical condition because of the undermining OF
the pumping station by the river and a
ONE PHASE OF PANAMA NATTER.