The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-04-20
TEST OF STRENGTH COMING.
This is the Great Day in Insurance
Circles.

TINS is the treat DAY IN insurance
Circles.
This is the crucial day with the board
OF fire underwriters of the Pacific and
It is confidently anticipated that there will
be a pretty general breakup following
the retirement from membership of some
of the heaviest companies doing business
on the coast, including two of the for
ing made for the anticipated getting
from under and the probabilities are
that within the next Jew days the local
board OF underwriters will be taking
Gaze of the entire business of rates here
in Utah, unless there should be some
radical changes. in the other direction.
The best posted inurSance men have no
hopes for the salvation of the present
gelierSl board, but on the contrary they
ora of The decided opinion that the end
Is about come, and they will not be
sorry 10 see the storm break; this
Numbering has continued long enough
tl-ey say. OF course, all Of this can have
little effect upon the situation here in
Utah, except in a general way, as long
as the present organization Is maintain
ed, but the after effects viii De felt
throughout the coast states and terri
sories and the certain result of the sus-
pension OF rates or the breaking up Of
the compact would be the organization
OF i new board with rules and regula-
lions Of {. somewhat different nature
Than that now in existence.
In accordance with resolution adopt
ed at the last meeting of the board of
underwriters Of the Pacific, rates will
foday he suspended throughout the
STATE Of California except IN those cities
order and tins change may be said TO
apply to all of the states and territories
throughout the jurisdiction of the board.
These changes are looked upon as belng
the forerunners of the dissolution of the
compact in liS present form. Local
boards are 20 be organized in every city
and town in this territory not already
equipped IN which the insurance business
merits such an organization.
Amount of Business Done.
statement of the premiums received
during the yea, 1894 by The board anr
1ionboaTd companies doing business on
It shows that the business of the board
ers aggregated the sum of SS,7OS. sos.
sShile that OF the nonboarders was ST.
az ,251-
o. the Sears Loss.
The work Of adjusting the fire loss re-
Gently sustained by the Sears Paint and
Glass company commenced yesterday
7rning The Phoenix is represented by
comma nieG have for their adjuSter
Special Agent Farnsworth. 1t is highly
probable that an appralSement OF the
damage will be made by experts.
Calls For Security Funds.
It is highly probable that. the insurance
companies will at once train their heavy
guns on that provision in the report Of
the committee on corporations other than
municipal, made yesterday 10 the consu-
tutionai convention, which makes it nee
essary for every insurance company do
ing business in the territory TO put up a
guarantees fund of not less than SlO0,OO0
with the secretary of state. This fund
must be in the shape OF money or ap-
proved securities. Sucf. a provision would
work an undoubted hardship upon some
Of the smaller companies, and might seri-
cusly inconvenience the larger ones.
Adjusted Lpss.
Z. B. Rogers, of the firm of Rogers &
walker IS back from Charleston, Wa
satch county where he went for the pur-
nose of adjusting a loss sustained by L.
S. McCSffs;., Oh the lattcr's barn. gram
ary and contents. It was straight loss,
and MI Rogers settled for the National
upon the payment of $40. The Continen-
tai will pay $50.