The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-07-10

If the reports received from the east
are at all reliable, and they have the
stamp OF entire truth, then there is
very likely TO be sudden cessation
of the present rate war in Insurance
circles, which is cutting SO deeply into
the revenues and resources of the in
surance companies doing business on
the Pacific coast and at the same time
adding so greatly to their liability. 1t
is now stated that the great companies
which are anxious to return to former
conditions are about to cause an eX-
pertinent which their officers are sure
will prove effective and cause the
Home and Phoenix, as we'll as the
other outside companies, to drop their
present work like it was hot iron.
These union companies will give the
management of the two heavy com
panieS named the alternative of either
putting a stop to the rate cutting on
the Pacific coast or writing and re-
writing business throughout the en-
tire middle east at scaled prices. There
is a very general opinion among in
surance men that this step, if taken,
will be the winning card, for they~con-
tend that the Home and Phoenix can
never hold out against a concentrated
fight which will be extended right into
the heart of their best territory. lie
Chicago Times-Herald gives the fol-
lowing statement of the prospective
movement for a change in present
methods:
1T is learned upon good authority
that a movement will soon be put into
operation by prominent companies OF
New York and Hartford to bring the
81. Of tHa
coast to an end. If the reports are to-
be relied upon, these companies are
tired of being friendly in one part or
the country with associates in the bust
ness who are using their utmost en-
deavors to slaughter them in another
section. They argue that as d matter
of fact, the trouble has progressed al
together too far, ana as the manager
of the companies carrying on the war
from San Francisco, as we'll as the
officers of those corporations will not
even consider propositions for peace,
other methods should now be tried.
THE Home, of New York, and the
Phoenix, of Hartford. through the gen
eral agency of A. r. Magill, of San
and it is against them that the bat !
teries of strong combination will be
turned. Both Of the companies have
a large and prosperous business
throughout the western, southern and
eastern states. Neither are from ap-
pearance in a position to withstand
the onslaughts of sny number of
strong companies.
This is especially true of the Phoe-
nix, of Hartford, though the Home !
would not stand a much better show.
Was there a VeStige of sense in con-
tinuing the war on the Pacific coast,
some excuse might be found for sup
porting the Home and Phoenix in their
position, but the best the officials of i
those companies can offer is we refuse
to discuss the question at all
Just what steps the combination
will take to stop the fight has not yet
been fully decided upon. 1t was
stated yesterday that the first signal
gun had been fired in the east, by the
of a comparison Of the
figures Of the Hartford companies
premiums and of reinsurance reserve
which did not at all rebound 70 the
credit Of the Phoenix
Showing Was Excellent.
The board of directors of the Home
its regular monthly meeting yesterday
and the reports for the six months
just closed were submitted. They gave
very general satisfaction, especially in
view of the present fight which is rag
ing in insurance circles. The showing
made was of the very best and it was
very plain that the condition of the
company is steadily improving, not
the outside disturbances.
AT the meeting the news was com
to the directors of the pro-
0able move TO be made by the big
in the hopes of restoring
harmony and the information gave
extreme satisfaction, for the present
rate war is looked upon as a very
dangerous thing to all concerned.