The Indianapolis journal., 1904-03-18
In the Insurance WOrid;
NeWs and Notes of Interest

The Wabash Valley Trust Company has
been organized at Peru.
Indiana fire losses for February. as
ported by the Journal of Commerce. were
S291 .OO0.
The Russia Insurance Company of ST.
Petersburg. Russia. has been admitted to
Indiana.
An examiner from the Kansas Insurance
Department was in Charlottesville last
week to examine the Tribe of Ben-Hur.
The State Life Insurance Company of this
city has entered Canada and will have
headquarters IN Toronto. 1t expects, in
time 10 establish agencies throughout the
Dominion.
The Union Of Philadelphia has repaired
its resources which were weakened by the
Baltimore fire by the sale of stock at a
premium. 1t secured in this way $4,000
for capital and $4,000 for surplus.
Secretary Charles C. Whitney, of the
New York Life Insurance Company, who
die6 recently, was manager of the In
dianapolis office of the Western Union Tel
egraph Company during the civil war.
]. ]. Price. general agent of the Berk-
shire Life Insurance Company for Indiana,
completed his tenth year in that capacity
yesterday and in honor OF the eveht gave a
banquet at the Columbia Club last Monday
night.
]. II. Thompson, jr., executive special
from the home office of the United States
Casualty Company of New York. is now in
charge of the Indianapolis office of the
company during the illness of General
Agent ID. f. Fleener.
The North American Accident Insurance
Company of Chicago is preparing TO enter
Great Britain. where it will write accident
insurance on the monthly payment plan.
This Is the second American accident COM
pany to seek business on the British isles.
The lectures which are being delivered by
Frank r. Daniel. of the Indianapolis in
spection bureau, each week before the In
diana State Board and League on "Elec-
trical Inspection and Installation" are
spoken of very highly by the members OF
the two associations.
The Indiana Association of Life Under
writer's last Monday adopted changes in by
laws by which membership in the associa-
ton is restricted TO the representatives, OF
companies that have been on legal reserve
basis for at least ten years. This Is similar
to the provision of the Michigan associa-
ton.
Following the very destructive fires that
have occurred in state institutions recently,
of which the loss of the Wisconsin state
Capitol building was the most serious.
number of States which have been carrying
4Ia;..
erty as a measure of economy are now au-
thorizing the placing of liberal lines with
insurance companies. Colorado was one of
those which were saving money in this way,
but a few days ago the board in charge of
her Capitol building ordered that S5OO,OD0 be
written on the property.
The question as to whether the term
''noon," which appears in fire insurance
policies, is to be taken solar standard
time Is one which upon occasions has been
of great Importance. Fires have occurred
so close to the time of the expirations of
policies involved that the question of de-
termining the liability of the companies in
terested has been taken into the courts The
desirabiity of determining once for all
what moon means Is conceded. lnsur-
ance Commissioner Dearth. of Minnesota,
has ruled that moon is his State must be
considered solar time.
Some of the smaller companies, which
were forced to the wall by the Baltimore
fire, now claim that they would have been
able to weather the storm if they had not
been forced to make a public statement so
soon after the fire by a number of the
State insurance departments. Had they
been given a little time. they claim, they
could have repaired their weakened condi-
ton and re-estabished themselves on a
sound basis. Although the investigation
by the State officials was doubtless wise
precaution, il is to be regretted that any
companies were thus forced to retire which
might have continued, for the amount of
underwriting capital now engaged in the
business is not adequate to care for all
the insurance offered.
Wildcat fire Insurance companies will con-
tinue to thrive in spite of law and publicity.
Their methods of securing assets with
which to make a showing in their published
statements will continue to be shady as
ever and as ingenious. The scheme adopt