The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-05-14
Insurance NezvS and Notes

penses was S349, 24O20 greater than in 1902,
and the total disbursements were $2,213,-
1854 greater than in 1902.
Fire insurance agents in st. Louis are
reaping an unprecedented harvest because
of the large amount of exposition business.
The rates on this class of business are
high, in some cases being 10 per cent. of the
face of the policy, but this does not pre-
vent agents from having more business Of
fered them than they can place. The
companies are generally writing pretty lib
orally, but they all have their figures above
which they will not undertake TO protect.
wonderful achievements which mark the
completion of the exposition IS the extensive
system OF ire protection when mas Dee nn
siderations which entered into the planning
of the arrangement of. the buildings was
their relationship to each other from a hre
underwriters standpoint. A certain amount
of space between structures was iRiexibly
demanded, at least 800 feet. a complete
system of fire mains underlies the grounds.
and well-drilled fire companies, equipped
with the latest fre-fighting apparatus.
Throughout the buildings are numerous
forms of the latest devices TO prevent the
spread of fire. In spite of all these pre-
cautions, however, danger from confa-
grafton exists, which makes 1t necessary
for watchmen to be ever on the alert for the
smallest blaze.
According to the records of the New York
Journal of Commerce and Commercial Bull
letin, January, February and April of this
year each contributed aggregate fire losses
which were greater than any of the indi-
vidual months during the same periods of
1902 or 1901. The following table gives COM
parison of the losses for the first four
months OF the past three years:
1902. 1903. 1904.
January SIS 500 s1s1sS.S $50 ST. 7s0. 200
FEBRUARY 49,. 21,Ol0.50o 16,09O,s00 so051,000
March ........ 12O56,6O0 9.9O7,65O II, O2, 150
April ......... ISS9i,60O 1S.54s,OOO 23,62S,OVl
Totals $751; 9s4.5cO s52.7Os.SOO s14666S, $3.50
Deducting the losses in Baltimore,
Rochester and Toronto. the losses thus far
gate $60.966, $780, or SS,000O00 more than the
sum charged against the first four months
in 1903. 1t will be seen from the above
exhibit that fire underwriters have suf-
fered severely during 1904, and, notwith-
standing enormous drains upon their as
sets, no general increase in insurance rates
has been made. There appears to be a
decided difference of opinion to the sys-
tenn upon which such advance should be
made; in fact, some companies seem quiet
ly TO oppose such action altogether. Clear.
ly the fire underwriting outlook is not
bright.
Insurance Commissioner Host, of Wis
consin. at present holds the center Of the
insurance stage. He has for many months
attracted unusual attention because of hi:
efforts to exercise his powers as super.
visor in such unusual ways that, should hi
succeed, many of the largest companies In
the country would be very materially af
fecteG and would be compelled to change
their plans of business in important par.
ticulars. 1t is he who is now conductins
a suit again the Equitable Life Assurance
Society of New York to compel that com
pany to distribute its vast surplus accum
ulations among its policy holders. His lat
est sensation has developed as a result OF
his examination OF the Prudential Life In
surance Company of Newark ~ J. Fo,
making this examination he charged the
company over $4,000 and because he was
not permitted TO extend his examination
ity Trust Company of Newark, a CORPORA
ti0n in which the Prudential held $3.50 0O
OF stock he mas has threatened to cancel the
company has brought suit against The
commissioner making charges that the
fees he exacted for the examination were
| exorbitant and asking relief for the al
legged excess charge To complicate. mat
tiers there are two bitterly opposed fac.
lions in the party to which Host belongs
| in Wisconsin and, as the time for nomina
tons approaches his opponents are usinf
| is worth. In consequence of this a number
| of Milwaukee's newspapers have mad,
very strong denunciations of Mr.. Hos
| and last week he brought libel suits agains
| three of them for $4,000 each. The in
| surance journals have also taken occasion
| TO criticise him pretty severely and thi.
( week he brought suit against two weekie
| and two dailies located in New York FOL
similar amounts. 1t thus appears that HI
| is now conducting libel suits aggregatinl
s3500O0. Ii might be supposed that Thu
| would be trouble enough for one man, but
| besides the ordinary routine of his offic
| duties he has incidentally carried on sue
| cessful campaign for the collection of
| large amount of back taxes from the fir
! insurance companies operating in the Stat
| and this week began an investigation o
| the workings of the Wisconsin Field Club
| an organization composed OF the specia
| agents of the fire insurance companies, [,
| determine il they conducting rat
| trust" Commissioner Host is making in
surance history and his administration will
| long be remembered as an example OF tn
possibilities which Turk in the presen
method of state supervision Of jpSuranc
companies.