Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1908-12-12
|NSUR N CE
CONCERNS n
TERRITORY
Interesting Bulletin Issued by
Superintendent Jacobo Cha
vez on Growth of Business in
New Mexico.

Territorial superintendent of Insur-
ance Jacobo Chaves has issued Bulle-
tin No. 3 of his department which
contains the following valuable infor-
nation:
70 the Public;
on November 24th. the district
court for the county of Chaves. pass
ed sentence on j. f. Gates. imposing
a fine OF $50 and costs. the costs
amounting to $S6.95.
This party was soliciting business
for the Commercial Underwriters of
San Antonio, Texas, without authority.
The Western Underwriters of the
state Of New York. are sending let
ters to the postmasters throughout the
territory asking them to take the
agency for them, or to hand 1t to
some one who will. offering 20 per
cent commission on all business.
These letters are signed by O. O. Old
ham. manager. and sent from ogden.
Utah.
This concern is not authorized to
transact business in this territory,
The Great Western Life Insurance
company of Kansas city. has reorga-
nized and. after having met all re-
quirements of the insurance depart
ment of Missouri, has received au-
thority to proceed. This company is
now in the hands of AN entirely new
set of men and the president in Il let
ter says that they are now prepared
to run the company In a business-llke
Under the former manage
nent the company was grossly mis-
managed and transactions of a most
questionable and criminal nature have
This department has notified the
company that it will require satisfae-
tory evidence that the company is in
a solvent condition and that its OBJ
legations have been properly met, be
allowing it to proceed with the
Of new business.
The Identification Company of Am
erica. located at Chicago. has agents
i'm this territory selling accident IN
surance policies of the North Ameri-
Accident Insurance company OF
Illinois. Neither of these companies
are authorized to t%ransac business IN
this territory. ana aiding in the trans
action of business FOR an unauthorized
company is in violation of the insur-
ance laws.
Imperial Fire Insurance company of
Colorado. An examination of this
company by the Insurance depart
ments Of colorado and Wisconsin,
shows that the company is carefully
managed and its growth along sound
and conservative lines
Western Life and Accident company
Of Denver. AS a result of an exami-
nation of this company by this de-
partment, it was refused admission to
-%ransact business in New Mexico. The
company has also been refused adj
into the state of Montana as
4 result of the examination.
The following companies have been
to transact business in this
.erritory:
Michigan state Life Insurance COM
Dany OF Detroit, Mich.
Aetna Life Insurance company of
Hartford, Conn. |
Masonic Life association of Buffalo.
Y.
The superintendent called attention.
o the Masonic Life association in Bull
etin No. 2, in which he refused TO
tdmit them as a fraternal society and
hey have now complied as an as
life insurance company.
National Protectice Legion. This
beneficiary society has is
ued certificates on monthly payments
# 50, aggregatinf $40 in five years,
t the end of which time the holders
we're to receive $3.50 ~(estimated)
time ago it was figured out they
ould have paid $113.5S instead of
ESQ. The New Yorw nuisance de-
,artment has recently completed an
xamination which shows that To pay
1850 would call for a present re-
Of IS. 600. 900 and the existing
ssets are about $4,000 900, leaving a
elicit of IS. 0 600.
This department has no jurisdiction
ransacting business in several states
This department has no Jurisdiction
yer fraternal societies as the law
My requires the superintendent of in
rance to file heir financial state
lents and collect n Zee of $500.
In this connection il may be well
, recall the words of a veil known
'zaszET