USA > Michigan > Wayne County > Detroit > The history of Detroit and Michigan; or, The metropolis illustrated; a chronological cyclopedia of the past and present, Vol I > Part 136
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Second National Bank.
The Second National Bank was opened for busi- ness on November 4, 1863. It began with a capital of $500,000, and the following officers: President, H. P. Baldwin ; vice-president, C. H. Buhl; cashier, C. M. Davison; directors, H. P. Baldwin, C. H. Buhl, E. B. Ward, Duncan Stewart, N. W. Brooks, Chauncy Hurlbut, James F. Joy, John Stephens and Allan Shelden. It was first located on the south-
west corner of Jefferson and Woodward Avenues, and removed to the corner of Griswold and Congress Streets in 1868. In 1881 it had a capital of $1,000,- 000. The charter of the bank expired on February 24, 1883, and a new bank, called
The Detroit National Bank,
became its successor, on Monday, February 26, with a capital of $1,000,000, all of it owned in Detroit. The directors are H. P. Baldwin, C. H. Buhl, A.Lewis, Allan Shelden, F. J. Hecker, J. F. Joy, R. A. Alger, E. T. Slocum and W. C. Colburn, with C. H. Buhl as president, and C. M. Davison, cashier.
SỐ
RST
FIRST NATIONAL BANK BUILDING, Southwest corner of Jefferson Avenue and Griswold Street. Built in 1836.
The American Exchange National Bank
was organized in 1865 with a capital of $250,000. The capital is now $400,000, with power to increase to $500,000. The first Board of Directors was elected on July 26, 1865, and consisted of Franklin Moore, L. M. Mason, A. H. Dey, Eber Ward, J. J. Bagley, Charles Root, M. S. Smith, Edward Kanter, and Jacob S. Farrand.
The bank succeeded to the banking business of A. H. Dey, and was located at 89 Griswold Street until September 6, 1880, when it was moved to the Newberry and McMillan Building. A. H. Dey has been president from its organization, W. D. Morton served as cashier for three months, and was suc- ceeded by George B. Sartwell. The directors in
868
BANKS AND CURRENCY.
1888 are the president and cashier, together with S. J. Murphy, M. S. Smith, Charles Root, Alex. Chapoton, S. Heavenrich, Thomas W. Palmer, and W. A. Moore.
The Merchants and Manufacturers' National Bank
was organized May 13, 1869, under the State Bank- ing Law, with the following directors : T. H. Hinch- man, George Foote, T. McGraw, John Belknap, S. G. Wight, N. G. Williams, L. W. Tinker, W. C. Colburn, and C. Kellogg. The bank began busi- ness June I with a capital of $100,000. On July 13, 1877, it was reorganized as a national bank, with a capital of $200,000, and the following direc- tors : T. H. Hinchman, J. D. Hayes, J. Belknap, D. Whitney, Jr., N. G. Williams, L.W. Tinker, B. Vernor, W. C. Colburn, and F. W. Hayes. T. H. Hinch- man was the first president, and the bank has had no other. C. C. Cadman served as cashier from the organization of the bank till February 1, 1876, and was succeeded by F. W. Hayes. F. Marvin became cashier January 1, 1884. The bank was located at 93 Griswold Street until May 5, 1880, when it was moved to the Newberry and McMillan Building. On July 1, 1882, the capital was increased to $500,000. The directors in 1888 are T. H. Hinchman, D. Whitney, Jr., N. G. Williams, G. H. Russel, Ben. Vernor, H. K. White, Wm. H. Brace, H. C. Parke, and Jerome Croul.
The Mechanics' Bank,
capital $100,000, is the successor of W. A. Butler & Company, Bankers, and is located in the But- ler Block immediately opposite the post-office. It was organized under the State Law in September, 1870, with W. A. Butler as president, and E. H. Butler as cashier. Mr. Butler began the banking business in 1847, was located at different times in three several stores on the north side of Jefferson Avenue between Woodward Avenue and Griswold Street, and removed to his present location in 1860.
The People's Savings Bank
was organized January 1, 1871, with a capital of $30,000. Francis Palms was elected president, and M. W. O'Brien, cashier, and the following trustees were chosen: Charles Ducharme, Patrick Fitz- simons, Francis Palms, John Heffron, Edward Reidy, William Foxen, and Anton Pulte.
It was reorganized on January 1, 1872, with the same president and cashier, with a capital of $60,000, and the following trustees : C. Ducharme, W. Foxen, F. Palms, Aaron Karrer, John Shulte, A. Pulte, P. Fitzsimons, J. Heffron, F. Morrell, John Mark, and J. Dwyer.
On July 1, 1874, the capital stock was increased
to $125,000, and on January 1, 1878, to $250,000. On January 1, 1884, the capital was increased to $500,000 and there was then a reserve fund of $50,000. The directors in 1888 are: W. C. Yawkey, D. Whitney, Jr., W. Boeing, G. H. Barbour, J. L. Edson, J. Shulte, A. Pulte, P. Fitzsimons, M. W. O'Brien, J. Mark, J. Dwyer, F. F. Palms, and W. B. Moran. The bank was originally located at 37 Jefferson Avenue, but moved to the southeast cor- ner of Congress and Griswold Streets, on April 22, 1872.
THE PEOPLES SAVINGS BANK
W Die
Dotks Spar BANK
PEOPLES
SAVINGS
BANK
PEOPLE'S SAVINGS BANK, 100 Griswold Street, corner of Congress Street. Built in 1872.
The German American Bank
was organized under the State Law in August, 1871, with a capital of $100,000. It succeeded to the banking business of Edward Kanter, who began in August, 1868. It was originally located at 30
BANKS AND CURRENCY.
869
Larned Street West, but in May, 1883, moved to 118 Griswold Street in the Moffat Building. The officers in 1883 were E. Kanter, president, and H. L. Kanter, cashier.
Wayne County Savings Bank.
This bank was organized October 2, 1871, under the General State Law. The original capital was $30,000; in September, 1875, it was increased to $150,000. Its first officers were: W. B. Wesson, president ; H. Kiefer, vice-president ; S. D. Elwood, secretary and treasurer; W. A. Moore, attorney, and the following trustees : J. J. Bagley, J. Croul, J. B. Sutherland, J. Wiley, M. S. Smith, W. A. Moore, S. G. Wight, D. M. Ferry, Paul Gies, L. P. Knight, W. B. Wesson, Traugott Schmidt, D. M. Richardson, W. C. Duncan, T. W. Palmer, H. Kiefer, F. Adams, K. C. Barker, G. F. Bagley, J. S. Farrand, D. Knapp, and S. D. Elwood.
The directors in 1888 are: Wm. B. Wesson, Jerome Croul, Wm. A. Moore, D. M. Ferry, L. P. Knight, F. Adams, Jacob S. Farrand, S. Dow Elwood, and L. S. Trowbridge. Wm. B. Wesson is president and S. Dow Elwood secretary and treasurer.
Sums as low as one dollar are received and inter- est allowed thereon. The bank was originally located on the northwest corner of Griswold and Congress Streets, but on December 5, 1876, it was removed to Congress Street, immediately in the rear of the old location, to a building erected by the bank, at a cost for building and lot of $110,000.
It is a very elegant structure, and is probably more nearly fire and burglar proof than any building in the city.
WAYNE COUNTY SAVINGS BANK. (Exterior View.)
O
0
WAYNE COUNTY SAVINGS BANK. (Interior View.)
870
BANKS AND CURRENCY.
Safe Deposit Company.
This company is connected with the Wayne County Savings Bank and has its offices and vaults in the same building. It was organized in 1872, with a capital of $30,000, and its officers are prac- tically the same as those of the bank. It may accept and execute any trust created by an instru- ment in writing which appoints it as trustee, and receives from any individual or corporation, on deposit, for safe keeping and storage, gold and silver plate, jewelry, money, stock securities, and other val- uable papers or personal property. The corporation may also become security for administrators, guar- dians, trustees or persons, in cases where, by law or
The City Bank.
This bank succeeded to the business of Kanady & Taylor, and was organized early in 1872 with a capital of $50,000. S. C. Kanady was president, and N. T. Taylor cashier. It was located in the southwest corner of the Moffat Building. It ceased business in the fall of 1873.
The Michigan Savings Bank
was organized February 9, 1877, with a capital of $60,000. It was opened for business on April 2, 1877, with the following officers: President, Thomas McGraw; secretary and treasurer, S. R. Mumford ;
BITI
VIEW OF THE VAULTS OF SAFE DEPOSIT COMPANY.
otherwise, one or more sureties are required, at such rate of compensation and upon such terms and conditions as shall be established by the directors.
The interiors of its vaults are provided with safes of various sizes for rental, the charge ranging from $5.00 to $75 per year; the lessor only has the key, with access at any time during business hours. Those who do not desire or need the accommoda- tions afforded by separate safes may place any valuable personal property in direct charge of the company on very favorable terms. When desired the company will collect and remit the interest on bonds and securities left in its care.
trustees, G. W. Balch, H. M. Dean, J. Kuhn, A. G. Lindsay, T. McGraw, N Mitchell, S. R. Mumford, S. J. Murphy, Wm. Perkins, Jr., and J. Stoll. In 1881 Geo. Peck became president. On December 30, 1882, the capital was increased to $150,000. The trustees in 1888 are: G W. Balch, H. M. Dean, J. H. Kaple, J. Perrien, J. D. Standish, G. W. Lati- mer, A. G. Lindsay, Geo. McMillan, S. J. Murphy, Wm. Perkins, Jr., and the president and secretary.
It receives amounts as low as five cents and allows interest thereon. The bank is located in the Mechanic's Block, on the southwest corner of La- fayette Avenue and Griswold Street.
871
BANKS AND CURRENCY.
The Market Bank.
This bank is the successor of the firms of Sexton & Hall and J. A. Sexton & Company. The first- named firm began business on the corner of Wood- bridge and Third Streets in April, 1877, and was succeeded in October, 1878, by the firm of J. A. Sexton & Company, who removed the bank to the corner of Monroe Avenue and Randolph Street. On April 13, 1880, they organized under the State Law as the Market Bank, with a capital of $50,000, increased on October 15, 1881, to $100.000, with Eugene Robinson as president and W. H. Trainor cashier. On May 1, 1886, it was reorganized as the Union National Bank.
The Union National Bank
is the successor of the Market Bank, and has a capital of $200,000. John P. Fiske is president, and John B. Padberg, cashier. The directors in 1888 were : J. P. Fiske, A. Rasch, D. N. Avery, Wm. L. Smith, J. P. Fleitz, F. B. Howard, A. Goebel, Thos. Lowe, and E. W. Voigt.
The Commercial National Bank
began business on December 27, 1881, in the Bank Block, in the rooms previously occupied by the Merchants and Manufacturers' Bank. It began with a capital of $250,000, with Hugh McMillan as president, Morris L. Williams as cashier, and the following directors : Hugh McMillan, J. H. Berry, I. L. Lyon, G. H. Hammond, W. C. Williams, Geo. Hendrie, W. G. Thompson, Ashley Pond and J. K. Burnham. In 1888 the directors were H. McMil- lan, H. B. Ledyard, J. H. Berry, F. H. Walker, E. M. Fowler, G. Hendrie, I. L. Lyon, W. C. Williams and J. B. Dyar. In May, 1883, the bank was moved to the new Campau Building. on the southwest corner of Griswold and Larned Streets.
The State Savings Bank
was incorporated October 24, 1883, and began business the same day, with a paid-up capital of $150,000, and the following stockholders and trus- tees : David Hamilton president ; T. S. Anderson, vice-president ; R. S. Mason, cashier; and W. P. Hamilton, W. K. Anderson, and R. L. Courtney. The bank commenced business at 88 Griswold Street, but in May, 1884, removed to the new Buhl Building, No. 91 on the same street.
In February, 1887, the bank was reorganized and its capital increased to $200,000. The directors in 1887 were: T. S. Anderson, J. K. Burnham, R. S. Mason, W. K. Anderson, R. A. Alger, C. L. Freer, Geo. H. Russel, H. C. Parke, Hugh Mc- Millan and W. C. McMillan.
The Dime Savings Bank.
The above bank was organized in 1884 and began business on May I in the new brick building on Griswold Street, between Michigan and Lafay- ette Avenues. The capital stock is $60,000. De- posits of from five cents and upward are received and interest allowed on even dollars. The officers for 1884 were : S. M. Cutcheon, president ; James E. Scripps, vice-president ; and Frederick Woolfenden, cashier. The directors consist of the above-named, with J F. Roehm, Wm. Livingstone, William Hull, J. L. Hudson, Charles A. Warren, James Dean, and W. H. Elliott.
The Citizens' Savings Bank
succeeded the firm of Roberts, Austin & Co., on March 1, 1885. It has a capital of $100,000. E. K. Roberts is president, and E. F. Mack, cashier. The directors in 1888 were : C. Mack, J. H. Avery, C. B. Barnes, Wm. G. Brownlee, T. Berry, Amos Chaffee, W. W. Hannan, E. K. Roberts.
The Third National Bank
was organized May 10, 1886, with a capital of $200,000. The office is at 92 Griswold Street. W. H. Stevens is president, and F. Marvin, cashier. The directors in 1888 are: F. Marvin, W. H. Stevens, Frank E. Snow, J. L. Hudson, T. B. Rayl, H. P. Cristy, Gilbert Hart, and F. B. Dickerson.
The American Banking and Savings Association was organized in 1887, and began business April 21 of that year. It has a capital of $200,000. W. H. Stevens is president, and J. M. Nicol, cashier. The directors in 1888 are: W. H. Stevens, J. M. Nicol, H. S. Pingree, Eber Ward, W. P. Holliday, Wm. Reid, J. V. Moran, G. Hart, Chas. C. Hodges, R. Macauley, G. H. Hopkins, Levi L. Barbour, E. H. Flynn, David O. Paige, R. W. Standart, H. S. Hodge, and P. Schulte.
The American Trust Company,
with a capital of $100,000, and the same officers as the American Banking and Savings Association, undertakes to act as trustee for any person or cor- poration in the care or management of property.
The Preston National Bank
is the successor of D. Preston & Co. and the Preston Bank. It has a capital of $600,000, and commenced business July 5, 1887. R. W. Gillett is president, and J. P. Gilmore, cashier. The directors in 1888 are : R. W. Gillett, H. S. Pingree, Jas. E. Davis, C. A. Black, W. D. Preston, W. R. Burt, W. H. Elli- ott, F. W. Hayes, A. E. F. White, J. D. Standish, and John Canfield.
56
872
BANKS AND CURRENCY.
The Peninsular Savings Bank
was organized in 1887, and began business Sep- tember 15 of the same year. It has a capital of $250,000. A. Chapoton is president, and Joseph B. Moore, cashier. The directors in 1888 are : Alex. Chapoton, Thos. Nester, C. Schulte, James Dwyer, J. Perrien, J. Atkinson, A. Lewis, Paul Weidner, Siegmund Simon, J. M. Dwyer, W. E. Moloney, J. B. Moore, S. C. Karrar, C. Corbett, W. M. Johnson, M. Brennan, Jas. Gerrans, M. F. Howard, George Hanley, J. A Marsh, and W. B. Smith.
THE STATE SAVINGS BANK, Nos. 91 and 93 Griswold Street. Built in 1884.
The Central Savings Bank,
with a capital of $100,000, was opened in June, 1888. It is located under the Detroit Opera House. Gilbert Hart is president, and Joseph C. Hart, cash- ier. The directors are : G. Hart, C. Clippert, W. T. Gage, M. J. Murphy, J. Stroh, C. K. Latham, H. F. Lyster, M. H, Chamberlain, W. C. Stoepel, H C.
Hart, W. H. Irvine, A. E. Leavitt, H. O. Walker, and J. C. Hart.
The only other banks in the county are located in Plymouth and Wyandotte. The Plymouth Na- tional Bank was organized January 16, 1884, with a capital stock of $50,000. The first directors were : T. C. Sherwood, Samuel Lyndon, E. F. St. John, I. N. Starkweather, L. D. Shearer, E. C. Leach, Geo. Van Sickle, Wm. Geer, O. R. Pattengill, L. H. Bennett, L. C. Hough, S. J. Springer, and D. B. Wilcox. The director first named is the president.
The First National Bank of Plymouth has a capi- tal of $50,000. E. J. Penniman is president, and O. A. Fraser cashier.
The Wyandotte Savings Bank.
This bank was organized November 20, 1871, with a capital of $50,000, and is located in the city of Wyandotte. The original and present officers are John S. Van Alstyne, president, and W. Van Miller, cashier.
Private Bankers.
There were no private banking offices prior to about 1843. James L. Lyell and J. O. Graves were then located on the north side of Jefferson Avenue between Woodward Avenue and Bates Street. Soon afterwards Israel Coe and Samuel Coit, under the firm name of Coe & Coit, began business. In 1845 Mr. Coit retired, and A. H. Dey became a partner with Mr. Coe, and the same year succeeded to the entire business, and continued it until his interests were merged with the American National Bank.
In 1847 S. H. Ives & Company began business. They were succeeded by C. & A. Ives, the prede- cessors of the present firm of A. Ives & Sons.
G. F. Lewis was in business as early as 1847 ; and Messrs. John Brown, Warner & Lee, and W. P. Campbell, in 1850. These last named firms ceased business many years ago.
David Preston, of the present firm of D. Preston & Company, began in May, 1852. On March I, 1867, John L. Harper became associated with him, remaining until July 27, 1882. In May, 1883, the firm of D. Preston & Company removed from the southeast corner of Woodward Avenue and Larned Street to the southwest corner of Griswold and Larned Streets, occupying part of the new Campau Building.
The first mention found of O. C. Thompson, Howard, Smith, & Company, and B. P. Ensign, as bankers, is in 1853. The names of A. S. Johnson, C. W. Tuttle, B. B. Morris, O. F. Cargill & Company, and Wright, Andrews, & Company appear in 1855. The last firm was succeeded, in 1857, by An- drews & Waterman, who after that year ceased
INSURANCE AND INSURANCE COMPANIES.
873
to do business. Vincent J. Scott began in May, 1856, and closed in August, 1885. Philo Parsons opened a bank in the southeast corner of the Rotunda Building on Griswold Street, in 1857. The firm of Parsons & Fisher succeeded him as early as 1862. In 1859 E. H. Hazleton & Company and J. H. Kaple were doing a banking and broker- age business. In 1862 L. W. Wallace & Company were located on the northeast corner of Jefferson Avenue and Griswold Street, and the same year F. L. Seitz & Company and Kellogg & Sabin are named. The latter firm was succeeded by Granger & Sabin in 1863. In 1863 E. & S. Woolley were named as bankers. Duncan, Kibbee, & Company were doing business in 1865, and E. M. Cobb in 1866.
Fisher, Booth, & Company began in March, 1866. In September, 1879, they were succeeded by Fisher & Preston, and on June 1, 1884, by the Exchange Bank of W. B. Mitchell. In 1867 Robert Hosie is named with the bankers, and also N. T. Taylor. W. D. Morton's banking office was opened in 1870, and closed in 1876. T. S. Darling began in 1871, and closed his business in 1879. In 1874 Messrs. Cromwell & Ralston were in business. Mclellan & Anderson began business April 23, 1877. Messrs. Bratshaw, Black, & Company began in 1876, and discontinued their bank in May, 1880.
On November 1, 1880, a branch of the firm of George K. Sistare's Sons, of New York, was estab- lished in Detroit at 90 Griswold Street. They re- moved to the Campau Building in 1883. John L. Harper, formerly of the firm of D. Preston & Com- pany, established a new bank at 112 Griswold Street, under the firm name of John L. Harper & Company, on August 28, 1882.
Up to May 1, 1879, banks and bankers kept open from 9 to 12 A. M., and from 2 to 4 P. M. The banks then came to an agreement to keep open continu- ously from 9 A. M. to 3 P. M. The following days are legal holidays, and the banks are then closed : New Year's Day, February 22, or Washington's Birthday, May 30, Memorial Day, the Fourth of July, Thanksgiving and Christmas Days.
In 1850 and 1860 the amount of bank capital was but $500,000, and this was largely owned at the East. In 1870 it had reached $1,500,000. In 1884 the total amount was fully $5,000,000. Formerly all the city banks and bankers made collections from each other, and large sums of money were need- lessly handled and dangerously exposed. By mutual arrangement, dating from February 1, 1883, a mes- senger and clerk from each banking institution meet at twelve o'clock each day at the Merchants and Manufacturers' Bank, and under the supervision of F. W. Hayes, all collections are arranged, and the balances due from each bank agreed upon and settled.
Nearly ninety defunct banks and other corpora- tions, including the "good, bad, and indifferent," have issued notes in Michigan, and F. H. Rogers, of Detroit, has gathered about four hundred different bills of their issue. Eighty-seven corporations are represented in his collection.
INSURANCE AND INSURANCE COMPANIES.
The earliest record found concerning insurance against fire is contained in the following from the Detroit Gazette :
DETROIT
FIRE & MARINE INSURANCE
CO.
OFFICE OF DETROIT FIRE AND MARINE INSURANCE CO., 90 Griswold Street. Built in 1874.
INSURANCE AGAINST FIRE.
The subscriber will attend to applications for insurance, froin 2 to 5 o'clock P. M. on Saturdays. Persons who desire their build- ings, or other property, secured from damage by fire will find it advantageous to apply to the office for which the undersigned is agent, as the terms are favorable, and losses will be promptly repaired.
E. REED, Surveyor for the Utica Insurance Company. DETROIT, October 20, 1818.
The business was evidently of slow growth, for
874
INSURANCE AND INSURANCE COMPANIES.
in a paper of September 15, 1831, the following item appears :
There is not now in this city any agent for an insurance com- pany, authorized to insure against fire. The only one in the territory, we believe, is Charles Noble, Esq., of Monroe. Many of the policies have expired, or are about to expire.
Soon after this, on October 22, 1831, Asher B. Bates advertised himself as agent of the Protection Insurance Company, of Hartford.
On March 7, 1834, the Michigan In- surance Company was chartered, but it never transacted any insurance busi- ness, and the char- ter was used to organize a bank.
In June, 1836, the following compan- ies did business in Detroit: Kalamazoo Mutual Life Insur- ance Company, J. M. Howard, agent ; Ætna Insurance Company, Henry S. Cole, agent; Pro- tection Insurance Company, Asher B. Bates, agent; Al- bany Insurance Company, Fire- men's Insurance Company, and American Life In- surance and Trust pany, G. Mott Will- iams, agent. New York Life Insurance and Trust Com- pany, Dr. A. S. Porter, agent.
MUTUAL LIFE INSURANCECO
MICHIGAN MUTUAL LIFE INS. CO.
Annan
.... ..
MICH ENG CO
MICHIGAN MUTUAL LIFE INSURANCE Co.'s OFFICE, Southwest corner of Jefferson Avenue and Griswold Street.
H. N. Walker succeeded Asher B. Bates as agent of the Protection .Insurance Company, and in 1837 John Palmer succeeded H. S. Cole as agent of the Ætna Insurance Company, and continued to act as agent until his death, on June 28, 1871.
In 1837 G. Mott Williams advertised marine insurance, and the names of Marshall J. Bacon and H. H. Brown appear as insurance agents. On June IO, 1844, notice was given that books would be opened for subscriptions to the stock of the Penin- sular Fire and Marine Insurance Company. The
proposals did not meet with favor, and the com- pany was not organized.
On February 1, 1866, the Detroit Fire and Marine Insurance Company was organized, with a capital of $500,000, of which $150,000 was paid in. The first policy was issued March 14. The first president, Caleb Van Husan, was still serving in 1884, S. Warner White, the first secretary, served until March, 1868, when he was succeeded by James J. Clark. During the great fires in Michigan and Chicago, in 1871, the company lost nearly $272,000, but the directors came to the rescue and supplied more capi- tal, fully maintain- ing the high stand- ard of the company.
The Michigan Mutual Life Insur- ance Company of Detroit was incor- porated July 10, 1867, and issued its first policy on the 12th of November of the same year. It was organized FIRST NATIONAL BANK under the old insur- ance law of the State, with a sub- scribed capital of $150,000, ten per cent of which was paid in. In 1870, after the passage of a new insurance law, $100,000 was paid in, and in com- pliance with the law, securities to that amount were deposited with the State Treasurer. In 1876 the capital stock was increased to $250,000, all of which was paid in. At the close of 1883 the capital stock and surplus reached the sum of $531, 110.26; and the total assets amounted to $1,231,878.63. The first president, John J. Bagley, served from 1867 to 1872, and was suc- ceeded by Jacob S. Farrand. John T. Liggett, the first secretary, served until September, 1883, and was then succeeded by O. R. Looker. The busi- ness of the company is entirely confined to the States of Michigan, Ohio, Western Virginia, Illinois,
INSURANCE AND INSURANCE COMPANIES.
875
and Indiana. Up to 1884 it had paid death losses to the amount of $968,780. The total amounts paid policy holders up to 1884 amounted to $1,869,848.86. The company has never had a lawsuit or a contested claim, except on non-pay- ment of premiums, save in one instance, when the beneficiary murdered the insured ; this was proven in court, and the case was properly decided in favor of the company.
The Western Union Mutual Life and Accident Society of the United States, with its principal office at Detroit, was incorporated February 17, 1880, with James L. Edson as president and Lyman M. Thayer as secretary.
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