Reports to the General Assembly of Illinois at Its ... Regular SessionThe State, 1889 |
Other editions - View all
Common terms and phrases
31st day accrued on bond amount in force amount of unpaid amount paid ATTORNEY IN ILLINOIS bond and mortgage business in Illinois Capital stock paid Cash paid Cash received Chicago claims on policies Commissions and brokerage company to date course of collection Deduct amount re-insured Deduct re-insurance Deduct those expired Deposit premiums due and accrued ENDING DECEMBER 31 EXPENDITURES expired and marked fees and wages fire risks running force December 31 Gross liabilities INCOME Interest due INTERROGATORIES Losses and claims marine and inland mortgage loans Mutual National Bank organization to date outstanding risks paid for fire paid from organization Par value policies or certificates premiums at 50 premiums in course R. R. Co rebate and return received for premiums received from organization return premiums revenue stamps RISKS AND PREMIUMS Salaries stocks and bonds Surplus as regards three months due Total losses incurred Unearned premiums unpaid losses Written or renewed
Popular passages
Page 166 - Loan» on bond and mortgage (first liens) upon which not more than one year's interest...
Page 74 - Deduct amount received from other companies for losses or claims on policies of this company...
Page xxxv - ... auditor's blank whether the association undertook or promised to pay members during life, without regard to their physical condition, any sum of money or thing of value. It appears from what has already been said that his answer was false. The promise to pay to each member at the end of the period of 10 years, if he chose to receive it, his equitable proportion of the reserve or tontine fund, was a promise to pay money to members during life, without regard to their physical condition. So of...
Page 32 - AND PREMIUMS. In force on the 31st day of December of the preceding year. . . Written or renewed during the year Total Deduct those expired and marked off as terminated.
Page xxxv - ... number, and it is not clear that such advice was sought in good faith, or honestly believed to be correct. Another circumstance tends to the same conclusion, and that is that the officers studiously concealed from the auditor the fact that they were misappropriating the advance mortuary assessments in the manner above stated. Again, in the statement to the auditor, the officers gave a negative answer to the question in the auditor's blank whether the association undertook or promised to pay members...
Page xxxv - ... amount the mortuary and tontine funds had been depleted by the misappropriation of the advance mortuary assessments. It is urged that this was a mistake of law honestly made, which ought not to subject the association to proceedings by the Attorney General for its dissolution. The provision of the statute prohibiting the use of the mortuary assessments for any other purpose than that of paying death benefits is so plain and unambiguous that an honest mistake of law on that point seems scarcely...
Page xxxv - ... condition of the association. Whether said statement is false or not in the particular pointed out depends upon the right of the association to use the advance mortuary assessments for current expenses. As we hold that it had no such right, it follows that the statement was incorrect by the amount the mortuary and tontine funds had been depleted by the misappropriation of the advance mortuary assessments. It is urged that this was a mistake of law honestly made, which ought not to subject the...
Page xxxv - ... to proceedings by the attorney general for its dissolution. The provision of the statute prohibiting the use of the mortuary assessments for any other purpose than that of paying death benefits is so plain and unambiguous that an honest mistake of law on that point seems scarcely possible. Besides, we are unable to see how a mistake of law can be set up in such case as a defense. The evidence, however, tends strongly to the conclusion that there was no mistake, but that the officers of the association...
Page xxxv - ... issuing of certificates with numbers much larger than the number of certificates previously issued had a direct tendency to deceive members receiving certificates as to their value. Whether intended or not, this mode of issuing certificates operated as an actual fraud upon those becoming members; and the result, so far as concerns those actually deceived, was the same as though the misnurabering of the certificates had been adopted with an actual intent to deceive and defraud.
Page xxxi - ... the association had the legal right to so use it. The sixth section of the statute under which the association was janized provides that, "no part of the funds collected for the [fment of death benefits shall be applied for any other pur^?06.