The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1912-12-27
.PREUS ASKS FOR STATE
CONTROL OF INSURANCE
From Mondays Daily.

From Mondays Daily.
State regulation OF so-called inter
insurance" is proposed in bill
! which will be introduced in Mime
sofa and in many other states OF
| the Union this winter. A copy Of
the bill is in the hands of j. A. 0.
Preus, state insurance commission
er, and it has been recommended
by the National Association of In
surance Commissioners. Mr.. Preus
says that in recent years the state
| has lost thousands of dollars be-
cause large property owners have
been writing their insurance Oil n
mutual plan through an attorney or
interinsurer. The bill aims to bring
all such operations under state con-
troll and subject to the regular state
ltaX on insurance premiums. New
York, Illinois, Louisiana and North
| Carolina already have regulation of
| the practice.
Provisions of Proposed act.
j The proposed act provides that
property holders through their attor-
ney shall file with the commissioner
of insurance verified declaration
giving the names and addresses of
all subscribers to such Indemnity
contracts: the kind Of insurance in
which such organization intends to
leHgage; a copy of the policy con-
tract; a copy Of the power given
the attorney or internsurer: the To-
cation of the office Of such insur-
lance exchange; a statement that
duplication has been made for insur-
I ance upon at least one hundred sep
arate risks, agSregating not less
than $1,50e,090, and that there is on
{ deposit with such attorney, avail
able for the payment of losses, at
least $25,000. The bill also provides
that the insurance commissioner
shall be appointed attorney to ac-
cept service of process so that any
action against or by an interinsurer
i may be instituted by serving upon
| the Insurance commissioner.
Proposed An Examination.
1t is provided that the insurance
commissioner shall look into the
financial rating of each separate in,
terinsurer and that the attorney shall
submit an annual financial statement
upon which the commissioner may
! base action in licensing such inter.
! insurance concerns.
! 1t is further provided that re-
serve shall be maintained in cash or
convertible securities equal to so per
cent Of the net annual deposits col.
! lected and credited to the accounts
of the subscribers OH policies hav,
! ing one year or less to run and pro
rata on those of longer periods. The
bill also provides that examinations
shall be made of such institutions
/ by the insurance commissioner and
/ that licenses shall be issued to its
! solicitors.
| This class of companies shall also
be subject to a general supervision
as other classes of insurance com.
panies, and that they shall pay the
same tax as other insurance institu.
Itions. making annual statements to
the departments. etc. .a
! In the past three or four weeks
three more or less successful at
! tempts have been made to tap cash
registers in Mankato. About three
weeks ago the grocery store of
Flo, Pugh and Brockmeyer was en-
tered and little over 81 taken.
Less than week ago, a child's
bank containing over $50 was taken
! from the Franklin restaurant. Sat.
urday night Conner H. Jones store
at 220 South Front street was brok-
en- into but there was no cash in
the store. Nothing but good cold
cash was wanted. Not a thing but
the cash from the register in the
Flo, Pugh and Brockmeyer's store
was touched. in the Franklin restau-
rant the child's bank was even more
available that than the cash regis
ter. In Conner Jones establishment
any amount of cutlery, electrical
goods, etc, might have been taken
but nothing but the cash register
was and the safe was touched. The
safe was left open and was empty.
The inner door of the strong box
were pried off. Neither was there
anything to take from the cash
register.
The lock on the back door of Mr..
Jones store had been pried off with
a chisel or screw driver The re-
currence of this kind of sneak THEW
cry points strongly to the suspicion
that the atrocities were committed
by home talent, and the police are
making a thorough investigation OF
the matter .,.
The new ST. Anthony Park Meth
odist church, Como avenue west and
County road was dedicated yester-
day at three services at 1915 a.
m, 3 and 8 p. M, at which Bishop
w. A. Quayle, Rev Frank A. Cone
former pastor, Rev. Frank B. Cow.
gill, present pastor, and Rev Frank A.
Doran, district superintendent spoke
Bishop Quavlo preached morning
and evening. A chorus of thirty
voices, under the direction of F.
NJ Collester, sang. The new church
is a brown brick building, which
cost more than $4,000.
The church is free of debt Bishop
Quayle, in calling for subscriptions
announced that there was only ST.
500 due on the ediice. In few
minutes $4,000 had been subscribed
Bishop Quayle. in a sermon re-
petite with pithy epigrams, whimsi
cal touches OF humor and SMILES
defended shouting Methodists"
I Il like to hear the Methodists
shout They ought to. Everybody
who gets glory sooner or later will
shout. You can't get glory and
keep the lid on. The church should
not no trpated oS cpuatbinp maroly