Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1904-02-13
Something Of the Immense Losses
OF the Big CONGREGATIONS
OF History.
THE CONDITIONS IN UTAH.
v,,,cer striugham Of the Home Fire
Gives Some Interesting Figures
On the Risk Taken.

"Newso representative called to-
,'y mon Manager stringham OF the
p,ohor J. Grant & Co. insurance agency
- the conversation with him few
S'.,s well known to the public some
TO-, ago were brought to light, THESE
1880 are now referred to as they may
:, interest in connection with the
n.,,,nore fire. This, according TO all
,.,s "a one OF the largest fires re-
i epSatS' IN modern history. Three otner
colue eres were the great London Ilre
Ee1ttte which spread over 436 acres ana
er,ailed property loss calcuia.eu S'
ehont $500 100000, present Value' 'ns
Sg fire OF 1871, when consumer
mi 1916 100000 worth OF properly
a IVA he $50 100000 Boston nre OF le,I,
H nd row comes the Baltimore hre WIN
Ahu ~ si25 600 900. The Chicago IRE
aV oI, a insurance companies, or was
WIZ, Jtract cause Of their downfall. AS
Ine 1', can be estimated insurance was
hes. "a ON Chicago property to the
oo',,t M s9l. 800 900. OF which S50,lOO'-.
az Or a,os Maid. leaving a balance or
W. o0S 00O which The 6S bankrupt COM
s,,i.s we're unable TO make good. Inc
bns,on Are following so close upon the
80 of the Chicago coniiagrauon,
oangbt number Of the surviving COM
uanies and retired 80 more OF them
PEI. strInpham further said 1T is
NorJ 70 say in lust what shape the
paitimore fire will leave some OF the
srosIler companies, but undoubtedly a
s",abor of them will be crowded 70 the
nall mr. il will be the ultimate cause
~ their downfall. Ii Is not an uncoin-
mon thing to be greeted win splle
when we quote what iirst class com
NAMES consider an adequate rate me
nublic as general thing understand
very little about insurance, ana cannot
yeoize what a great responsibility In
spra0ce companies take upon them
sslyas for the mere bagatelle OF pre-
Mum II they did understand more
about these things and looked into the
matter carefully, they would not OBJ
Zoe, IN paying a reasonable rate, which
The 0rst class company usually asks.
III isa well known fact In insurance
c,rcl,s that fire insurance companies
make A very small percentage on their
are business. Statistics will show that
all companies doing business In the
United States for the last 20 years have
made a fraction over per cent on the
capltal Invested Within the last two
Years we have had some large foreign
companies retire from the United
States. as they stated they were tired
Of sending money each year to America
10 cay the deficiencies In their losses.
We have a recollection Of one company
alone that sent to America for the last
70 years their drafts at the end Of the
year tn make up their deficiencies OF
the year from $4,000 TO $4,000 per an
nun.
But, speaking Of the experiences Of
Are insurance companies IN our own
sate-taking all Of the companies to-
gether they have paid out In losses
$40 for every dollar which they have
received In premiums during 1908. This
means that II has been necessary to
draw upon their home offices for ex-
penses' In other words. II Is only
natural conclusion that the companies
doing business In our state for the year
1903 are from 80 to ~ per cent behind
on every dollar Of premium which they
collected in the state. II It were not
that the companies had in former years
made some little money and had this
money Invested at good interest, the
majority Of the insurance companies
would have gone out OF business years
ago They however, are hanging on ex-
peCtng that at some future time they
viii be reimbursed for the outlays they
are making