New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1910-01-12
Insurance Department Bulletin
No. %.
st. Paul, Mimi, Jan. l, 191(

The Interstate Life Ins. Co. of Indi-
annapolis, Ind, has called policy
holders meeting for December 3lst to
vote on a proposition to reinsure in
the Federal Life of Chicago. The
directors unanimously recommended
the deal. This company was refused
a renewal of it's license by this depart
ment in 1907.
The fire losses in Minnesota for
November we're 1925, 900 as compared
with 100000 in the same month of
1908. The losses in the United States
amounted to S12,9l5, 900, as compared
with Sl3, 1000 in November of last
year.
An examin alton of the Manufac-
turers and Traders ms. Co. of Mime
apolis shows the following condition
on December, IA, 1909:
Income from Jan. l, to date,...... $1S,0S1.51
Disburse nents same period 80. 1878. 4
Total Admitted Assets ........... 1881
Total Liza Utilities. ....... 1,362,25
Total risksin force. 1915, 1926. 90
This company is establishing con-
tingent safety or reserve fund, the
subscriptions to which at the present
time amount to S55,870, upon which
cash has been paid to the amount of
S29, 6S5. The officers have drawn no
salaries for the current year.
An examination of the Park Region
Mutual Hail Insurance Associ alton of
Glenwood shows the following condi-
ton December Z, 1909: q.
Income from Jan. to date ......... Sc, 09964
Disbursements, same period. ....... 5,967.54
Total Admitted Assets. ............. 3,199.77
Total Liabilities. OBSERVATION-DISCLOSURES. 5000
Balances. 3.lS877
The books do not show the trans
actions of the company for the year
1909 and the records, as a whole, are
in very incomplete and unsatisfac-
tory condition. ...-
It is proposed to merge the Phenix
ms. Co. of Brooklyn and the Fidelity
Fire ms. Co. Of New York, the conso-
lidated company to be known as the
''Fidelity-Phenix Fire Insurance Co.
of New York. The new company
will have a capital of two million and
a half and a surplus of over two mil
lion. We believe the policyholders of
the Phenix are fully protected under
this arrangement.
An examination by the New York
and Massachusetts Insurance Depart
ments of the American Credit-Indem-
nifty Company of New York shows a
considerable impairment of capital
and, as result, the capital will be re-
duced from ST, 000,0 900 to $3.50, 900. The
former president has resigned.
The Supreme Secretary of the Order
of Owls writes this department. as fol-
. lows:
IT myself personally conduct for
my own benefit q death benefit fund
with members of the Owls y
This should be interesting informa.
tion for the members of this order,
who have been paying assessments
with the understanding that they were
recei wing insurance from the order.
The Order of Owls is not licensed to
do an insurance business in this state.
The organization is not doing an in.
surance business, but some individ.
uals are using the organization for
personal benefit. The value of this
so-called insurance is shown by the
fact that rec snt claimant in st. Paul
received on q certificate promising
mot more than S1,000,'' total bene.
fit of less than $1,000.
JOHN A. HARTIGAN,
Commissio ner Of Insurance
i cntfonwnnd e SparIpc Nntoe