The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-07-31

TO the original inventories and the
statements of the owner of the prop
erty destroyed. Both of the ad-
justOrs paid a visit TO Bingham and
for the pa three days they have
been engaged in footing up the value
of buildings. stock and fixtures. The
basis Of settlement agreed upon by all
parties concerned is as follows:
Stock S5,64409; store building. 81
1870; dwelling, $S64.S0; barn, $4,000;
fixtures, $412.67; making a total of
SS.521.5 SO. Payment of these sums by
the various companies involved will
be made shortly after the proofs of
loss have reached the head offices.
NIagiII is More Conservative.
While the repeal of the noninter-
course clause of the constitution of
the board of fire underwriters of the
Pacific has no direct bearing upon the
situation here in Utah. the agents are
watching with the closest interest, as
are also the property holders. every
movement made by the general man
ayers on the coast. They take it that
the latest development in San Fran
cisco is Indicative of a coming settle
rnent of the present difficulties which
surround the insurance affairs of this
coast. From the west comes the an
nouncement that the managers are
nearly if not quite all heartily sick of
the rate cutting INDUCED in for the
past several months and all that they
now need is a leader to carry them
into the fold from which they strayed
early in the enga gement. Magill. of
the Home and Phoenix, has with
drawn his resignation from the fire
patrol and will hereafter contribute
was occasioned by the repeal of the
offensive clause and it is anticipated
that the other outside companies will
follow the action of the Home and
Phoenix and not only get into the
patrol but also into the compact when
i shall have been reorganize0.
No Application Here.
On account of the recent organiza-
ton in Utah of a state board of
underwriters. the action of the Pacific
board in repeating the nonintercourse
clause can have no bearing upon the
local agents except as a matter of
precedent The Utah board is man
aged solely by its board of directors
and managers and the rates are ad-
justed by these powers in ordinary
times. Now rates adjust themselves
or go unadjusted.
Az Seeen in the East.
One of the most prominent under
writers of the east has just expressed
himself on the Pacific coast situation
and as they come pretty near from
headquarters the statements made by
the gentleman are of special interest
out here. He says:
THE Pacific coast episode has
demonstrated, I think. that noninter-
course cannot be enforced 1t has
probably cost the companies about
$4,000 900 to find this out, but if the
money has been well spent No
doubt we shall now soon have a new
organization on the coast, but I, for
one, shall oppose the formation of
any association that is to be charged
with checking daily and monthly re-
ports. It has done no good in the
past and will do none in the future.
You can't make an honest man out
of a thief, and, judging from past ex-
periences on the coast, unless the
natural per centage of dishonest in
surance men is greater by far in that
section than in others, the checking
and watching system made cheats of
many who would have been honest
otherwise. The coast business will
never again show the profit it has,
and the coast underwriters should
recognize this, and from now on
handle the business in an economical
and businesslike manner. The trouble
IS that most, If not all, of the general !
agents end managers solicit and place
business rs brokers. and so they are,
in fact, only exaggerated local agents, !