Richmond Palladium (Daily), Volume 32, Number 297, 8 December 1907 — Page 3

PAGE THREE. CUTS m - Tte&Jtf tattle tz&ic 'Wm State Auditor Billheimer Not Satisfied With Methods Pursued. INSTRUCTIONS TO AGENTS. W JO' fy.--CLAIMED THAT INSURANCE COMPANIES AT THIS SEASON OF THE YEAR HAVE TENDENCY TO SLAY RATES. FiPdDmm Gte Meml Sttoek If Hie

THE RICIDIOXD PALLADIU3I AXD SUN-TLLEGRA31 . SUNDAY, DECE3IBER 8, 1907.

SRAC

BEING

PROBED

is mentioned, general headof the United

The Insurance department of tfce office of auditor of state' has begun an Investigation of methods in use by certain life insurance companies, some of them Indiana companies. The investigation is based on reports that these companies have been writing business at an unusually low rate, which practically amounts to rebating. Representatives of the companies involved have been in conference with the Stare department, but no definite conclusions have been reached. No promise has been made that the methods in use will cease, and at present the auditor is attempting to determine just what legal steps may be taken to prevent such rate cutting. All laws that relate to the insurance business are being studied. The law gives the insurance department broad powers in determining whether or not a company's methods are safe. Reports of rate cutting came to John C. Billheimer, auditor of state, several days ago. Following this, conference was had with representatives of the Insurance companies and it is understood that the insurance department feels sure that the reports received were true. Two of the companies mentioned are Indiana companies. . They are the Indiana National Life and the Majestic Life, both with offices in Indianapolis. The Security

Life of Virginia, also This company has its Quarters for this part

States at Chicago. Agents Not Responsible. Information which has reached the auditor's office is to the effect that the events are not wholly or in any great part responsible for the rate cutting, (t is stated that the companies have instructed the agents to cut rates. In eome cases it is asserted the rates have been cut more than C0 per cent. It is stated on good authority that the total term premiums collected by some 0 the insurance companies in Indiana during the last year will not equal the reserve which the companies will be required to file at the auditor's office the first of the year. The reserve is 60 per cent of the net term premium for the first year, and tne net term premium is the premium paid by the insured, less the expenses of the company in obtaining the insurance. In other words the premiums collected will not even pay the reserve when as

ft matter of fact they should pay twice that amount plus the expenses incident to gaining the insurance. The auditor regards such methods as unsafe, and it is stated that he will lose no time in his effort to correct the practice. There is always a tendency near the Close of the year for insurance' companies to work hard to increase the Amount of insurance in force. They wish to make a good showing when they are examined by the auditor at. the beginning of the year. It is believed that this desire has something to do with the wholesale cutting of rates.

CLUB WOMEN Tfl WELCOME STORK Ten Babes Were Born to Members of Literary Society Last Summer.

THEY WANT RECOGNITION.

AT NEXT MEETING A LETTER WILL BE DRAFTED ASKING ROOSEVELT IN SOME WAY TO COMMEND THE MOTHERS.

Burton, O., Dec. 7. The Clio club, I he de luxe literary organization of this place, has resumed its weekly gatherings where they were discontinued last season, but with a difference; 10 of its members having become mothers within the period of the vacation from literary activity. And about that difference the Clio rlub has built up a claim, its members nssert, that is worthy of attention to the Roosevelt medal, so called. The rlub women contend the club itsoif Is worthy of national commendation an anti-race suicide organization. A letter is to be drafted at the next meeting seeking presidential recognition of Its 10 babies and their mothers and club women foster mothers, as the club members style themselves. Of the 10 babies one captured two first prizes and two others won second prizes in Geauga county baby shows. Hollister's Rocky Mountain Tea purifies the blood, regulates the bow

sis, aids the kidneys, cures stomach troubles, builds up the nervous force; makes you well and happy. 35 cents; Tea or Tablets. A. G. Luken & Co.

(GireaittBtt Menu's tae nim MnceQiiiraiKonnafl

ART IN

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Boys9 Suits aid Overcoats for Xmas

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Shirts For the Xmas Trade. Newest Patterns. A Most Striking Display. Just received the most beautiful assortment of Glen's Shirts ever shown in Richmond. The patterns are new and striking. Just the kind of garment for his Xmas gift. Coat Shirts, Plaited Bosoms and plain white. Price S1.5Q

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PALLADIUM WANT ADS PAYj

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