Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1892-12-02
INSURANCE CHANGE.
The New York Lie Co. Goes 10 H. j.
Grant 4 Go.
REVOLUTION IN POLICIES.
They secure the big Insurance Agency
aud WIN Place Its Money Here
at Cheap Rates.
REVOLUTION IN POLICIES.

Any step that looks to bringing cheap
money into the community Ia always
regarded with satisfaction by our great
business public, and the move just con-
summated by the weil.known inaurance
arm Of Heber ]. Grant 4 Go. will DO
regarded with more than usual Interest.
For some time past Grant a Go. have
teen negotiating with several OF the
siding life insurance companies OF
the United Sta;es, with a viow OF
representing one OF them In
Utah; naturally all were de-
sirous Of securing the services OF
company having the pfeetige OF
Grant 4 Co., but that hrm held oil
c,ssing with any until II had satisfied
Itself us to which company was un-
doubtedly the best, aud M ~ which
was Inclined to do tho most In the way
OF placing some OF its enormous capital
In Utah. The recent visit here OF Mr.
Gibbs, treasurer of the New York Lifc,
decided the matter. lie anu Hon.
Heller ]. Grant, Persistent OF the local
insnrgncs ffm, held several confer.
unces, and Mt. Gibbs looked tho city
over with view % making loans here,
and possibly making future Invest
mcuiB OF New York Life capital. Mr..
~. 4. Grant, manager, and sir. III. u.
Whitney, secretary OF Heber J. Grant
4 Co., went TO New York about three
weeks ago and closed tue contract by
which the control OF New York LIFE
affairs IN Utah passos Into the hands OF
Grant q Go. from and after December
FIRST.
eve were attracted TO the New
York Life In preference to any other
u the several foremost companies oil
the countfy,O said Mt. Grant la cor.
veraation with q NEWS representa-.
tive today, "frst by reason Of the
extremely liberal policies IL is now
issuing, aud second because II agree.
10 place in the early future consider
able sums ol New York money al low
rates OF interest on salt Lake property.
40 you nre perhaps aware, the New
lorh Life nov not only Injuries per.
sons life aud refunds his money la OLD
ngc, but II has removed the rc'trictlons
hitherto operating against penons who
suicilod, who had 60 travel IN places
where they were liable to infectious
disease, like the Southern Statts, Or
who were engaged IA precarious Occu'
pltiOns like mining, aud, what 10 more
important still ~ insurers, II loans
money ~ them after u certain term on
the iecurity Of their Ogn policies a.
Ier cent interest. Theeo nrc features
hitherto unknown In Insurance pnj
are extended only by the New York
Life. Al 10 the soldiiy OF the com.
pany, II ~, ot cOufte, beyond question.
The New York Life IL the only COM
pany which has pas ed the test Of gov.
eminent inspection, and come out I'M
scathed. Tie government inspector
himself reported It's assets worth
one hundred aud twenty-five million
dollars, and Its surplus as fifteen mil
lion dollars."
Mr.. Grant said that Mr.. Gibbs,
treasurer Of the New York Life, was
especially impressed with salt Lake
| CITY M "a business center, and In the
near fcture Grant a Co. have the
placing Of large sums Of the COM
pany's money nj low rates OF Interest
on business property.
The addition OF life department
has niece STATED an Increase In Grant 4
Co.'s force, and Mir. III. q. Whitney,
former business manager OF The
Herd q, bgs been appointed assistant
manager and secretary Of the com.
pany. Mr.. u. Il. drant remains the
manager 10 heretofore.