Joint Documents for the Year Volume 3

Joint Documents for the Year Volume 3

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1898 edition. Excerpt: ...a custom of all life companies, and like many other wrongs seems to have become rooted like a weed of noxious growth. We will concede that the laborer is worthy of his hire, but he should he paid after the work is done, not before. The large amounts of agents" advances charged up to loss by this association would seem to be sufficient condemnation of this practice. We find as the result of this examination, brought down to May 10th, 189S. and covering the existence of the company from the year 1877, that the association is solvent under the law, its assets well invested and carefully managed, with a surplus over all liabilities of $323,194.21; whereas the requirements under the law of Illinois for an emergency or reserve fund would be $258,318.44 the actual emergency or reserve fund is $036,991.09. Respectfully, JAS. R. B. VAN CLE VE, Insurance Superintendent, Illinois. W. S. MATTHEWS, Supt. of Insurance, Ohio. E. T. OREAR, Supt. Ins. Dept. Missouri. ELMER H. DEARTH, Insurance Commissioner, State of Minnesota. MILO D. CAMPBELL. Commissioner of Insurance, State of Michigan. c. G. Mccarthy, Auditor of State, Iowa. WM. A. FR1CKE, Commissioner of Insurance, State of Wisconsin. There would seem to be in this report little inducement to new members. I cannot conscientiously make a flattering report as to the prospects of the association. The officers have undoubtedly been honest and have done all they could to put the company on a living basis and repair its past mistakes; but with an impaired membership, with contracts insufficient to pay losses and expenses and with practically no reserve, the outlook is not one#f great promise. The losses and expenditures from Jan. 1st to May 10th, 1898, exceed the total receipts of more

Product details

  • Paperback
  • 189 x 246 x 28mm | 975g
  • United States
  • English
  • black & white illustrations
  • 1236980719
  • 9781236980717