The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-10-26
THE HOME FIRE co.
The Showing Made at the Late
Annual Meeting.
THE REPORT OF THE PRESIDENT.
The Careful and JudiciOus Manner in Which
the Affairs of the Company
are Handled

The annual meeting of the stockholders.of
he Home Fire Insurance company of
Utah"was held on the 22nd instant at the
Deseret National bank. The report of the
president for the past fiscal year was read,
and is as follows:.
GENTLEMEN-I submit herewith the sec
retary's report showing the condition Of
the company at the close of the fourth fiscal
year.
From this it appears that its cash assets
amount to the sum of 1864, 1921 and its
total liabilities to the sum of S1S,2SS 10,
making net surplus of s147.15957.
We have had many applications for
policies for larger sums than we care to
issue, but we have adhered to the policy of
former years and accepted only moderate
amounts
On the 18th instant the directors de-
clared dividend, payable on demand, of
two and one-half per cent, making the total
dividends for the year ten per cent.
They also declared a special dividend of
twenty-five per cent on the capital stock,
payable in the stock of the Salt Lake
Dramatic association. This action, while it
reduces the company's surplus as pre-
viouSly listed, does not in any way inter
fere with its earning capacity, and we will
therefore continue to pay as in the past
quarterly dividend of two and one-half
per cent.
It is gratifying to me and must be to the
stockholders that the companys net surplus
over all liabilities and after the payment OF
the special dividend of % per cent. amounts
TO the sum of 500, 1887 at the close of its
fourth fiscal year. This surplus and the
dividends paid have mostly been produced
by the careful and iudicious investment of
the funds OF the company; the profits from
the fire business on account of losses not
being so large as anticipated.
In past years the "Home of Utah" has
received applications for insurance from
New York, New Orleans, Chicago, Phila-
delphia and other cities. We have had
similar applications curing the current
year, but as heretofore these applications
have been declined, the directors preferring
20 transact small, but safe business in
Utah.
1t is, however, satisfaction that the
financial standing of our company is such
that its policies are sought for not only at
home, but abroad.
| A special meeting of the stockholders has
been cal ed for the purpose of voting on the
| proposition to increase the capital stock to
| $780, COG aud make the par value of the
shares 500 each. Said meeting will be
| held at the Office of Heber j. Grant & Co.,
on the Sth day of November, A D., 1890.
| Feeling assured that all will be gratifed
at the prosperity which has attended the
Home Fire Insurance Company of Utah, u
l remain yours respectfully,
| HEBER j. GRANT, President
| From the secretary's report it appears
! that the assets of the company consist of
the following property, viz:
| Stocks in banking corporations S23 720 90
| Stocks in other solvent dividend pay
ing corporations - i8s, 1852 SC
| Stock in the Salt Lake Dramatic as
| sociation $1,000 90
| Real estate III salt Lake and Logan $1,000 OC
| Bills receiN able 22,500 90
Amount due from agents---- 4,t95 n
OffiCe fixtures 500 90
Total 1885,, 4sS q
After the reading of the report the cleo
ton of officers for the ensuing year took
place, and resulted in the following per-
! sons being elected, viz:
| DirectOrs-Heber j. Grant, P. T. Farms
worth, George Romney, Thomas G. Web