The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-08-20

the board of fire underwriters yesterday
morning suspended the non-intercourse
clause of the constitution.
This is looked upon as the first step
toward complete cessation of the hos
tilities between the Home and Phoenix
and the other insurance companies dong
business in the territory, in fact, it is
directed move preparatory to the en-
trance into the Utah state board OF fire
underwriters of the Home and Phoenix.
1t is anticipated that within the next
few days orders will be received from
General Agent Magill of the companies
named by the local representatives to
get within the fold of the Utah board,
which is to be reorganized in measure
and placed upon the same footing as the
northwestern board, which the Home
and Phoenix have Joined some time ago.
Such a move would settle insurance af-
fairs in this territory, which have been
at skies and sevens for the past seven
months. and at once restore the old rates
Negotiations for the settlement of the
many differences between the companies
doing business in this territory, stirred
up by the special representative of the
home and Phoenix. have been on for
some days past and yard long dispatches
have been passing between Hon. Heber
J. Grant and President Chase of the
Hartford of Hartford. The entire local
situation was reviewed, all details being
submitted by Mr.. Chase to the president
OF the Phoenix, who had requested a cor
rect statement of the case and declara-
ton on the part of the local board and
the several agents on certain matters. The
final move was made yesterday, when a
dlsuatch was sent off announcing the
hot hn IL i
been suspended and the Utah agents
were ready to form a compact on the
same lines as those followed in the or
ganization of the northwestern board.
Home and Phoenix. Assurances have
been received from the home offices of
the last named companies to the effect
that their agents throughout Utah will
Join the state and local boards and confine
their operations to the limits prescribed
by the constitution and bylaws thereof.
With the settlement of the great ques-
ton, will come comparative peace and
prosperity to the local insurance agents,
many of whom have been reduced almost
10 cases through the great cutting and
slashing which has been in force since
the commencement of the year.
Situation on the Coast.
1t begins to look as though a complete
settlement of the troubles of the board of
fire underwriters of the Pacific was also
not far off. Manager Hugh Craig of the
New Zealand. has just applied for re-
admission to the board, and thereby Gre
ated considerable of a sensation in insur-
ance circles of San Francisco. 1t is an
ticipated that other outside managers
will follow his example and such
course might lead to a reimbursement of
the affairs of the parent compact, whose
functions are now suspended. AS yet no
meeting has been called to consider the
application of the New Zealand.
May Do General Business.
Advices received from headquarters.
are to the effect that the Royal Exchange
Assurance Corporation of London, will
establish d branch in the United States
and compete for general business on all
lines and in all sections of this country.
Manager Duncan of the company, is now
on his way to the Unite States and he is
coming for the purpose of locating the
probably increase its deposit in the re-
public to half a million dollars
The Royal Exchange now does business
on the Pacific coast only, through Rob
ert Dickson manager at San Francisco,
although it has 100000 on deposit with
the state authorities of Massachusetts.
Its assets in the United States aggregate
1915, 1924. If the present plans are car
ried out the company will establish COM
paratively few agencies in places like
New York, Chicago, Boston, Philadel-
phia, Buffalo. Albany, Baltimore, At
lanta, Cincinnati, Cleveland, Detroit.
Omaha. St. Louis and other cities of
size.
The Royal Exchange Assurance Cor
poration was established in 1920 1t is
one of Great Britain's oldest and strong
est insurance institutions. The corpora
tion's affairs are conducted in the most
conservative-not to say old-fashioned
manner. The funds in hand amount 10
100000 and the claims paid since or
ganization aggregate f37,0O0,000. Fire,
sea. life and annuity policies are written
and the quality of fire business this
ancient concern has may easily be in
ferred from the fact that its loss ratio
is usually under so per cent. The chief
office of this assurance corporation is IN
the Royal Exchange, London.