Insurance Potpourri

Of all U. S. businesses few are more routine, none more newsless than insurance. Last week contrary to custom insurance made much news:

P: Globe & Rutgers Fire Insurance Co., third largest in New York, was by court order placed in the hands of the State superintendent of insurance for "rehabilitation" amounting virtually to a receivership. Reason: depreciation of assets nominally valued at $71,900,000 at the close of 1932.

P: Raymond William Stevens, ex-president of the defunct $150,000,000 Illinois Life Insurance Co. was about to go on trial last week for embezzlement of the company's assets in trying to save the great LaSalle and Stevens Hotels.

An ardent amateur ornithologist, Stevens sat in the library of his Highland Park (Chicago suburb) home, within reach a volume of an encyclopedia open to an article on birds. Taking a revolver in hand he fired a trial shot into the fireplace, then put a bullet through his head. Insurance to be paid on his life was estimated at $300,000. His brother and his father, 79, were to go on trial with him, but the father last week lay ill unto death with apoplexy and his life insurance of $72,000 was in danger of lapsing unless premiums were paid. Receivers for Illinois Life were seeking funds to pay the premiums so that they could collect the $72,000 for the company.

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