Show LIFE INSURANCE A aitay itay of carrying ng ou on Busl bushness ness an in fn alveral of the eastern states attention lo is 13 being called toward towards life hf e insurance comp companies unies par pars ticul arly the caso case in states where laws which acted BS its safe guarda guards against irresponsible and wild cat companies existed and action baa lis s been taken to have t them hem repealed jq 14 missouri recently the legislature changed the lay in n ro lation to insurance companies considerably sider ably simil similar ar action is to be taken in in new york state and tho the court journal discussing this matter calls attention to tho the last report odthe of the united states mutual accident association the statements made by the couri 1 journal so far as known are aud and it ie is only just that the public should be bo placed on its guard in relation to insurance mattere matters we quote front froni thu journal this report Is a audacious in its at ate ments than last year its algur iba go so experts hero liero say a ie is more wore tortuous than the report of a solid company representing millions instead of having cash reserve over all liabilities this year as was predicted by its lant lart state examiner it shows no assets but had to take money entrusted and deposited with them for that specific purpose only out of advance asso amenta for 1887 it shows thatis the ide insurance urance department examines them at once they will have to close tham up pitcher swears that tn the total income for 1886 was 54 and the disbursements leaving a balance of 29 7 V at 1 11 sible statement on its A bt but it how imly about the facts of lie tle received was assessments 1 advance payments by members bersand aind could not legally bo be used I 1 in n squaring accounts of of t this from froin the total income and it leaves to pay j in other words pitcher to balance the accounts appropriated of the advance assessments and yet he swears that the co company m piny jias a balance of S so 0 they have of the peoples money a balance of 1 11 1161 john A mccall I 1 cx ex s urance abo 0 in all insurance matters staled stated to aba writer that any company that tbt claims credit as assets for premiums paid in advance without hold holding lorr a reserve fund in liabilities equal to that advanced premiums is not doing the correct thing lias has the company a reserve fund in anns cr to this question quee tion pitcher did av aar to I 1 lie truth it has not and far fr thi truthful stiLt statement ement be he should levena be givan nf hill credit there being no go reserve fund the company ia is not do ICK ig the correct thing and now it ita 11 members and the public want to t know why let lot us examine another statement he swears that last latt year there were twenty five death tin in ull cladies cl asies that to pay y th the death losses sixty assess merits were made that waa was collected that was w a s used in paying death loess josses t that h a t was otherwise appropriated bated pria ted in fine it cot coit nearly one dollar ilar to pay out a dollar who be dieves lieve ait it here follows a voluminous explanation of tho the working of the company with numerous figuro figures condition oI the jo journal aun uni marl imari sea ses the matter as follow follows for every received it cost the member members the increase of business bu sIneas was only while the expenses there ie is no money in the hauda hands of agents they paid no commissions and paid out for ria a larios laries and fees the tho company has no purples eur sur pin plEs neither did they the pay a surplus of although they swear that they did the compary Com Cm py december 31 did not lave a surplus of 55 as they swear but was in debt HI on the above date in short De december combar 31 1880 the company was bankrupt any assets and waiting for a forced assessment on march 31 |