Morris tribune., 1906-08-04
Bio Life Insurance Slump.

The big life insurance companies
located in New York experienced u
decrease of S151, 724,S54 in 1905 as
compared with 1904, according TO tue
annual report of the state superln-
tendent of insurance. The New YORK
companies issued 597 ,379 policies, IN
Surfing 5000, 84S, 1893, while the COM
panies of other states issued 4Zo,oAo
polices, insuring S785, 923,33l. Ine
gross assets of the New YORK COLI
nanies were S2,651, 316,714, or an IN
crease of nearly $2OOOO0,OOO. The IN
come of the New York companies was
1861, IA, 172 and that OF other states
1857. 681, 1896. An analysis OF dlspurse-
ments shows that $258, 97S,566 was
paid to policy holders, while the cost
If mana cement and dividends amount
ed to $l38,S51,9 14.
Award of Panama Bonds.
The treasury department made
awards on the 21st, under the S3O,OOO'-
600 issue OF Panama bonds, ana the
average price realized by the govern
ment was $1O4 Half of the issue
went to Fisk & Robinson OF New
York, 100000 to the Merchants, Ma
tlxnal bank of Philadelphia, So,ol9,-
sos to Samuel Byerley of New YORK;
a clerk who represented an unknown
syndicate, and the remainder In small
err amounts. Secretary Shaw thought
the bidding showed the appreciation or
the governments efforts to build the
canal in the shortest possible time. lie
will at once designate as repositories
all national banks whose bids were
S1O3.5O or more. In this way he ex-
poets to put in circulation at LEAST
$2O,OOO,OOO.
1t turns out that Byerley, who OBJ
tanned an award of $5,9OO,OOO of Pan"
ANA bonds with only the investment OF
D two cent stamp to forward his bid,
represented only himself, but that he
has succeeded in disposing OF his
award to banking house on terms
that would enable him to make good
by depositing the cash Aug. | and
leave him a margin of $4,000 profit.
lnsurng Against Balloons.
| A London insurance company is now
issuing policies against damages done
! by balloons. AS the first claim was
paid a few days ago for broken glass
caused by ballast thrown out of bal
! loon when close to the ground, the in
teresting legal question of trespass is
already being discussed, some main
tanning that real estate title enables
the holder to protect himself against
the invasion of the air above his prop
erty.
! Western Freight Rate War.
Railroad rivalry for the grain carry
! ing trade resulted last week in a cut
of 2A cents by the st. Paul on every
hundred pounds of -four and wheat be-
/ tween Missouri river points and Chica-
go. The Great Western had quoted 8
cents on -four as against 1914 charged
by the other lines. Immediately the
Great Western met the St. Paul on
! wheat and flour and quoted seven
cent rate on corn, oats, rye and barley
The Wabash then took hand with a
rate Of 1874 cents from the Missouri
to New York. The low rates are all
limited to Aug. %, two days before the
new rate law goes into effect. ~
Morgan Sees Prosperity. ''ss* &4a !,
On returning from five months trip
In Europe j. P. Morgan shocked the
New York reporters by treating them
affably for the first time in his life
and by tolerating the snapshotters. He
announced sententiously that the Unit
ed States is prosperous and that the,
present slump in stock prices meant:
nothing-the law of balance would as
sert itself He virtually admitted that
the steel trust would redeem itself by
declaring dividend on it's common
stock. Referring to the death Of his
Wall street competitor, Russell Sage,
he remarked: II was not surprised to
hear of it. We all grow old and must
pass away" rs &
Phoenix Disapponts San Francisco. 49,
Over 900 San Francisco policy hold
ers of the Phoenix Insurance company
of Vienna, Austria, have been notified
that they could not expect dollar,
as the company had decided that all
policies became null and void in that
city by reason of the earthquake. The
amount of the claims is $1,758,0OO.