Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-03-24

life insurance company" and this In
made TO appear as hostile 10 other as
sociatlons and antagonlstlc TO their IN
| terests. The story has no more founda-
ton in truth than others OF like char
acter. The Church Is not organizing
anything Of the kind, nor investing cap
ital therein, nor taking any part In II
| whatever.
The facts in the case are these! Three
young men, one OF whom resides In
Brigham CITY, being familiar with
insurance matters, came 10 the conclu-
sion from close investigation that llfo
! Insurance company could be formed In
Utah which would be profitable to It's
members and also TO the general pub
lie. They obtained subscriptions to tho
stock Of the ihciplent association. and
among others who were solicited to toin
II were President Joseph t. Smith and
his Counselors. II was not In that ca
paclty, however, that they were asked
to subscribe, but as prominent citizens
and capable business men, interested
In the welfare Of the State and DESTROYS
OF aiding in the promotion OF home en-
terprises.
The writer OF this article happened
TO be present when they made their
application and explained their pro-
ject. The matter was taken under add
vlsement. and after few days the gem
tlemen named consented to invest
$4,000 each In the company TO be
formed, providing that a sufficient sum
could be secured to make UP the in
tended amount OF capital stock. The
sum mentioned is the maximum per-
mltted to any one individual Applica-
tons for the stock have been pouring
In, many persons desiring to treble
the highest sum allowed for invest
ment but IN no case has any one been
permitted TO take more of the stock
than the amount specified. The legal
per cent, to be paid down upon incor-
poration Is all that has been demand
ed, and II Is confidently expected that
such further amounts as may be re-
quired from time to time win be made
OF easy payment, and the prospects
for the enterprise are really brilliant.
The promoters OF the movement were
anxious to obtain the consent Of Pres
ident Joseph f. Smith to be president
OF the new company The mere sugges-
ton OF his name acted like sanguine-
hued dag to a furious bovine, and II
was at once proclaimed that the
Church had entered the field Of life in
surance and that this meant death
blow TO all other insurance associa-
tlons. The Church has not solitary
cent in the company and is not inter-
ested in It in any manner or form.
The Mormon" Church is not neces-
sarily a stockholder of the different In
stitutlons In which President Smith
and some Of his associates are indi-
vldually interested They have az
much right as any citizen Of the State
to invest money or other property In
commercial, financial, agricultural or
ing men OF the Mormon" Church have,
from the beginning OF the history of
Utah, led out In the various Indus
tries and occupations that have pro-
vlded labor for the workmen, and
caused the redemption Of the desert
and the development of the resources
OF these mountain wales,
In some instances the Church, as an
organized body, through It's Trustee
in-trust has advanced means for the
establishment and maintenance OF en-
terprlses for the 0romotion OF the gem
eral welfare. But in doing so 1t has
not put up a barrier in the way OF any
person, firm or corporation TO engage
IN similar pursuits, on the contrary.
It has welcomed outside capital in as
ISOLATION with its members and officers,
and today the various business organ
izations in which the Church Is at all
interested, Is so composed OF both
Mormon" and Gentle stockholders,
that only In very rare instances does
the Church hold a controlling interest,
In the face OF these facts, why should
there be such intense feeling and vigor'
GUS agitation caused by report thai
tho Church has entered some particular
field OF business? Even II 1t were true
what concern Is It Of anybody but thu
Church members? The Church is moi
going TO invest or seize upon money
that does not belong to It, nor to hin
der nor proclaim against the establish
ment OF other enterprises by private
individuals. The fact that all kindl
OF trades, firms, companies, corpora
tlons, stores, industries, financial
speculative, and other business affair
are carried on here successfully by non
"Mormons," stares the obstructIonlst
IN the face who send forth their bait
and shameless fabrications for the pur
pose Of injuring the Church, which the!
cannot effect, but may succeed IN dam
aging the state, depressing business
lowering the value of property AM
bringing blight upon both Mormon
and Gentle institutions.
It is a wicked and inexcusable meth
cd Of assailing men and a Churcl
against which the hatred of few viru
lent enemies Is directed. II is, how
ever the outcropping Of their innat
inlquity. We do not care TO enter int
the matter OF their personal charac
ter or their private lives. II is thel
public doings that we deprecate, an
which we think the nOn-"Mormon
business people Of this city and stat
should denounce and oppose,
As long as the decent respectabl