The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-05-10
A HOME LIFE COMPANY.
LONG TALKED OF PLANS CRYSTAL
IZING AT LAST.
An Investigation Made BY Hon. III.
j. Grant-The Immense Amount
Paid Out in Life Insurance Pre-
miuIns,

The long-talked-of plans for the or
| ganization of a Utah Home Life In
surance company promises to crystal
ize at last into definite and solid
organization
For a long time past people who
have given the subject attention have
been concerned to note the immense
amounts taken out of the territory
| every year in the shape of life insur-
ance premiums. A conservative esti-
mate OF, the amount citizens of Utah
send away annually to pay for in
surance on their lives is half a mil
lion dollars, and the total is growing
every year. The Home Fire Insur-
ance company was formed nine years
| ago to partially arrest the financial
drain caused by the outward flow of
fire insurance premiums, and its sue
cess everyone knows. If a local fire
company can be made a success, the
question. that naturally occurred to
everyone was, why could not a life
| insurance company succeed equally
as WELL
The matter came up for discussion
at the last meeting of the board of
directors of the Home Fire. 1t was
the unanimous opinion that the pres
ident of the company (Heber j. Grant,
SHOULD investigate the system on
which other successful mutual life
companies were formed, and while he
was in San Francisco recently with
the tabernacle choir he had several
conversations with the president and
vice-preisident of the Pacific Mutual
Life of California, who gave him every
facility to make his examinations and
assured him of any aid in their pow
er to give. Mr.. Grant felt more than
satisfied with the result of his inves-
LEGATION. The idea is to organize
strictly mutual company, SO that the
benefits would go to the policy-hold
ers; elect a board of trustees or di-
rectors whose names would make the
policies on which they were printed
as acceptable to the public as those
of the biggest foreign companies. The
assets OF the company would be in
vested by them; they would them
selves be policy-holders; large
home, and without doubt the COM
pany could also operate in surround
ing states and bring in considerable
outside funds.
MI Grant left Friday for vernal
He said to reporter just before
Starting: Il am convinced that the
idea of a Home Mutual Life Insurance
COiupdly 10 Gel ldiuly I0dSlUle, anu l.
expect to take steps to organize such
a company at once 1 had intended
to make personal call on all the
prominent business men of Salt Lake
and to write to others to obtain their
views; but a sudden call will neceSsi-
tate my absence from the city for a
few days. Here is a list, however, Of
home leading men whom 1 saw in just
half days walk around town. Every
a-fIy y0J
of the IDEA and many of them said
they would be glad to take policies on
their lives in a home company for all
the company would accept. 1 figured
that these proffers amounted to con-
siderably more than 100000 in pol
icies, and from all the offers of sup
port l am convinced the proposed Or
incorporated with enough paid up
business to insure it's undoubted sue
cess"
The list furnished by Mr.. Grant is
as follows. He stated that there were
many others of whose support he felt
assured, but whom he was unable to
see. 1t includes every banker of the
associates of the absentees, Mr.. Grant
states, gave assurance that they
would favor the plan:
w. S. Mccormick, o. ]. Salisbury,
]. E. Dooly, President MILFORD Wood
ruff, President George Q. Cannon,
President Joseph F. Smith, F. H.
Auerbach, George A Lowe, ex-Mayor
Baskin, Frank Knox, H. NJ Bacon, P.
T. Farnsworth, Colonel Donnellan,
Major Downey, t. G. Weber, A. W.
Carlson, James e. Jennings, Governor
Wells, Thomas r. Cutler, T. r. Jones,
George Y. Wallace, A. W. McCune, r,
Macintosh, Spencer Clawson, David
Eccles, H. T. Duke. L. H Farnsworth
Abraham H. Cannon, Henry Din
'woodey, John c. Cutler, c. S. Burton,
E. A. Smith. F. NJ. Lyman, John
Henry Smith, Rulon S. Wells, Richard
w. Young, N. w. Clayton, John j.
DAILY, George T. Odell, Joseph Geoghe-
gan, ]. w. Fox, F. H. Nelden, C. P.
Mason, George A. Snow, Byron Groo,
c.. A. Granger, John G. Graham.