ACT TO FORCE INSURANCE CO. LICENSE O. K.
Act to Force Insurance Co. License 0. K. State Refuses Renewal to Firm, Which Goes to U. S. Court Insurance Commissioner Morvin Duel has refused to renew the license of the State Farm Mutual...
...Duel's reason for refusing to renew the company's license, Rieser declared, was that he felt the methods and practices of the company are In violation of the state law regarding the setting aside of reserves...
...The Bloomington company, which is licensed in 39 states and Canada, has unsuccessfully sought a license in Wisconsin since 1925...
...License 0. K. State Refuses Renewal to Firm, Which Goes to U. S. Court Insurance Commissioner Morvin Duel has refused to renew the license of the State Farm Mutual Automobile Insurance Co., Bloomlngton, 111., to do business in Wisconsin, and the company will seek an injunction in federal court here June 3 to force Duel to renew the license, Atty...
...Finally, last year former Insurance Commissioner Harry J. Mortensen granted the company a license...
...he was notified May 18 by Duel that either the company should withdraw from doing business in the state by May 28 or Duel would refuse to renew the annual license...
...Muth was appointed by President Roosevelt...
...1939...
...Original Investigation of the whole Buckman company fiasco was launched more than two years ago under the administration of former Gov...
...For years a bitter controversy has raged between Wisconsin automobile insurance companies and the Bloom-ington concern as to whether the Illinois company's method of doing business violated state laws...
...was scheduled to go to the jury this week...
...According to Rieser...
...50,000 A Year Since that time, according to Rieser, the company has issued 2.000 policies, mostly to farmers, from which it does an annual business of $50,000...
...Philip F. LaFollette...
...Buckman Case Now Goes to Federal Jury FEDERAL trial of B. E. Buckman, Louis C. George, and five former employes of the defunct investment firm of B. E. Buckman and Co...
...The greatest help to the government that citizeas can render is to keep cool and not become frightened," he added...
...According t* Rieser...
...Zim's Son May Succeed Dixon Secretary of State Fred R. Zimmerman said today he would probably appoint his son, Robert Zimmerman, as assistant secretary of state to fill the vacancy caused by the death of Roland Dixon, who was killed in an automobile accident May 28...
...Robert H. Jackson said...
...As a result of suits launched by the LaFollette administration, Buckman, George, and K. C. Holt, secretary-treasurer of the firm, were sent to the state prison at Wau-pun...
...This membership fee plan is not treated as a premium and no reserve is set up against the money collected from these membership fees...
...The former manager for the Green Bay area succeeds Philip D. Planner, who resigned several months ago...
...Robert M Rieser, company counsel, said lasf week...
...was unveiled by Mayor F, H. La-Ouardia...
...f Klcctrical Workers (AFL), who served in the last war...
...Zimmerman said it was necessary that he have an assistant secretary of state empowered to sign state papers in his absence...
...The seven remaining defendants are charged with mail fraud and violations of the federal securities act...
...Charles G. Briggle...
...Mark Muth Confirmed for State WPA Position ¦JlyfARK MUTH, Green Bay, was confirmed by the U. S. senate last week as administrator of WPA for Wisconsin...
...The company was granted a license to operate in Wisconsin for the first time on July 13...
...The license was supposed to be renewed May 1, but usually some time elapses before a renewal order Is granted...
...NEW YORK CITY — A bronze plaque honoring 1.400 members of Local 3, Tntl...
...The company gives what it calls a life membership to those taking out insurance, for which from $2 to $16 is paid depending upon the type of insurance...
...The number of defendants was reduced to seven when the case against Frank R. Shotola, former manager of the firm's Milwaukee branch, was dismissed by Federal Judge...
...Besides Buckman and George, the remaining defendants are Wilbur V. Malkson, Clarence W. Winebrenner, Fielding T. Spain, Richard E. George (brother of Louis), and E. J. Crofoot...
...This bill was one of the most bitterly fought in the legislature and held up major state legislation for weeks because legislators were split as to its merits...
...He said that his son, who is now his private secretary at $225 a month would not have his pay increased, and that no one would bo named as private secretary in Robert's place...
...In the 1939 legislature, a bill was introduced which would have barred the company from operating In the state, but it died because of sine die adjournment...
...WASHINGTON, D. C. — "Sensational statements" about fifth columns should be discounted, Atty.-Gen...
...the company has assets of S18.439.481, and surplus of $7,764,276 and sells automobile insurance at a lower rate than other companies...
...U. S. Federal Juage Patrick Stone signed an order May 24 ordering Duel to appear in federal court at 9 a. m. June 3 to show cause why the Bloom-ington company should not be given a license and to permit the operation of the company in the state pending a court, decision...
Vol. 10 • June 1940 • No. 23
