Year: 1873

The policy holders of the Asbury Life Insurance
Company, which has determined not TO take any
new business, have not yet been officially notified
OF the company's "new departurer but 1t Is ex-
pected that each one Will get his notice next
week. The impression seems to have got abroad
somehow in certain circles tnat both 1t and the
Commonwealth. which, 1t will be borne In mind,
turned over It's policy holders 10 the Natlonal Lie
the other day. had really tailed but such Is not the
TACT. 1t appears that before taking the step they
did take the officers of the two companies con-
suited several OF the most experienced actuaries
and directors of the soundest companies In the city
to the advisability OF their intended action and
were told that, under all the circumstances OF
their respective cases, their respective plans Tor
the protection Of their policy holders not only
ustinable, but the best they could possibly adopt.
The plan followed by the Con monwealth in par
ticular Is said to be considered by the majority OF
the life insurance experts as IN excellent one in
every respect, and that as IL was


MADE IN GOOD FAITH


tand the company's condition is guarantee that
no loss viii come to the policy holders by reason OF
it the transfer OF the interests OF the policy
holders from one company to stronger one ought
TO meet with favor by all parties concerned 1t
cannot be denied, however that many OF the
policy holders in the two companies were





the companies, in whose prosperity they
all have vital concern; but they have
in great part got over their scare now that the
skies do not look so black as their imaginatons
painted them In this connection 1t may be stated
that one of the allegations made by the Common
wealth was to the effect that they had been COM
PEELED to transfer their business over to the Ma
tional Life, owing not only to the bad outlook, but
TO the heavy claims they have had to pay OF late;
among others to the survivors OF policy holders
who committed suicide. In conversation yester-
day with gentleman engaged the lie insur-
ance business HERALD reporter was informed
that hereafter he believed the suicides would not
have everything their own way-so to speak
those at least who insured their lives and then
killed themselves with the intention of making
their death


PROFITABLE TO THEIR FAMILIES.


1t may be, he said that the Commonwealth had
suffered from suicides, like many other companies,
and, taking 1t for granted that such was the case,
he accounted for IL from the fact that
]uries in nine cases out of ten had an idea
that no man who commits suicide can be
sane at the time he takes his life. "Ony
day before yesterday said this gentleman, "the
Court OF Appeals at Albany handed down two de-
cisions, in which this theory of suicide gets it's
quietus. One case was that OF Van Zandt against
the Mutual Benefit Com pany and the other that of
Mcclure against the Mutual, OF New York. The
decision In each case was rendered by Judge Ra-
pallo, and the Court held that IL man, when about
to commit suicide knew the physical nature and
committing, he was really responsible
Tor his act, and suicide under such Cir
cumstances rendered his life insurance policy
null and void-the policies Of all companies eX-
picitly stating that suicide inyalidates the policy.
Barrodalle against Hunter cited among the Eng
lish cases"


that the Commonwealth paid losses on ali suicides
without question ~


II can't speak as to that by the card" was the
reply, 'but hardly think they did. OF course the
causes OF the deaths OF policy holders are always
inquired into anu If there be anything suspicious
surrounding death 1t is the company's duty to
the living policy holders to clear up every mystery
concerning it; for money obtained from the CON-
panles by fraud is robbery OF the living policy
holders themselves who are honest in their deal
ings with them. But what mean to say is, that
there are people VINO believe that suicide per Sc is
positive proof OF the insanity u1 the party who
takes his own lie; but case happened few
weeks ago in the United States Circuit Court for
Iowa which will, added TO the two decisions OF the
New York Court OF Appeals l have referred to,
effectualy settle this heretofore much mooted ques
THE RESPONSIBILITY OF SUICIDES FOR THEIR ACTS.
The case was that OF Hagan vs. the Mutual Llfe
After the IL jurors had been selected the counsel
Of the company, on a challenge to the favor made
the point that any OF one the jury OF the opinion
that suicide per Sc was an indication OF insanity
that tnat opinion disqualified him trom serving as
an unbiased juror. the Judge declared the chal-
ienge well taken, and eight Of The jury mad to
retire.


Inquiry OF the officers Of the Commonwealth re-
veas the fact that they do not contend that losses
by suicide independent OF any other losses, had
prevent them from going on. 81 tell you what 1t
is" said one OF the attaches who was spoken to
get the credit OF having made some splendid seec-
tons as policy holders. Probably some people
might be charitable enough to say that we had


GONE INTO A LUNATIC ASYLUM FOR SUBJECTS.


The reporter was assured that the policy holders,
now that they thoroughly understood the arrange
menj the company had made with the National
Lie, were completely satisfied with the plan, and
that, as 1t was certain guarantee OF good faith TO
every one OF them there was no reason for COM
paint When questioned as TO the determination
OF the Asbury Lie to take no new business, this
gentleman SAID he had heard several lie insurance
men speak about the matter, and the general
opinion seemed 10 be that the action OF the COM
pany had been well taken. 1t had been taken, in
fact, he said after good advice had been obtained
from reliable life insurance men. 1T is Infinitely
better," he said. ITO have done what they have
done than TO have Kept on with q proiitless busi-


II may be OF interest," just at tins time, when the
prospect is tnat several others OF the young
panies may be compelled to take shelte. III the
protecting arms OF some stronger aud older ones,
that policy holders generally should know Just
what the State superintendent oil Insurance thinks


IMAGINATION OF LIFE INSURANCE COMPANIES.


Like every other question that involves great in
tercsts, and In which the welfare Of so many thou
sands Is at stake, this amalgamation question has
more than one side TO it. While many contend
u
from being swept ont OF existence altogether-at
least SO lar as the interests OF Its policy holders
are c0nccrned-tnere are those who believe that,
excellent as 1t may seem, 1t Is liable To great
abuse. However, the best laid plans OF insurance
rs well as any other class OF business men are
open to abuse. The superintendent says In his
last report on the subject, unoer the head OF
.'Methods OF Contraction" ":-"Experence shows
that the method OF amalgamation is most gen
orally adopted by insurance managers, 10 New
York companies having adopted 1t since
1885, II consists substantially In one company
q a NV tnF nntn "a G md
sometimes its 0iicers.n He then goes on as lo-
HORSEPOWER TO insure any risk would seem to
include power TO insure all. The question whether
areinsured, policy holder has any adequate remedy
against his company or It's officers Tor wrong
dohe hlm ana the no less important one whether
tne polcy holder In the company rensuring has any
auequate remedy against his company or It's officers
i0r injury done him, is left as purely legal matter
10 oe hhaiiy settled bv the courts. The law seems
10 give absolute authority TO any company organ
~ lzeu unoer the act OF 1858, to make contract OF
reinsurance partial or total, with any other
pany. But, While to rensure may he legal the