The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-01-28

ness of the Continental Life Insurance /
and Investment Company.
There are two features, very impor-
tant ones, to which I wish to call spe-
cial attention:
One is the recent business transac- /
ton which enables the Company to
conduct all its business with an absO-
lutely limited expense account. 1 think
this is of greater. Importance than most
of you fully realize, in view of the fact
that many Companies expend more
than the amount which the policyhold-
ers contribute for that purpose, and
thereby encroach upon the surplus
earnings which should be returned to
them. It is certainly a very impOrtan
announcement to the public-to the
policyholder, to the stakeholder and
to the agent, that here is one Company
that will not spend one single dollar
from the funds belonging to the policy
holder for expenses or dividends to
stockholders. That all its expenses are
paid from the source which is under
stood by ALL and our representatives
can go to the public with more conf
dence and more assurance than those
of any of the old Companies, whose
records for expenses are being SO Sc
verely criticized.
It is true, that because we have made
this departure our competitors are like
ly to try to find some vulnerable points
of attack, but so confident am I of the
wisdom of this transaction on our part,
that am willing to rise or fall by the
results, and I believe that every solic-
itor present here tonight and connected
with this Company in the field has more
confidence in the Company and its fu-
ture success as a result of this con-
tract. than he otherwise would have
had.
The other important step taken by
this Company was done at its Board
meeting yesterday in this city, when
the Board of Directors determined to
place 1 900 shares of it's capital stock
at the disposal of it's future policy
holders. This. in my Judgment, was
one of the Wisest moves the Company
could have made. 1t gives a policy
holder in a stock company an OppOr-
tunity to become a legal stockholder
without paying anything for his stock
other than what he pays in his prem1-
ums for his insurance, the same
amounts that he would otherwise pay
to any other Company. This gives
large number Of poicyholders all the
legal rights of the original stockhold-
ers, and answers all the arguments that
| can possibly be made against a stock
company on account Of its limited con-
troll by a few men.
This decision of the Board of Direc-
tors is in keeping with the central
thought mentioned above-that our aim
is to build large Western Life Insur-
ance company, and to interest vitality
as many men as possible in every in
vestment the Company has to offer to
! the public, namely, its capital stock, It's
policy contract, and q participation III
an investment of the general agents
! renewal commissions, capitalized for
/ this purpose through the stock offered
! by the Western Securities Company
! The result of the first opportunity
! given, in a large number of original
stockholders in the Company; second,
there will be a larger number of persons
who are both stockholders and policy
/ holders, and third, there will be a large
number of investors in the capital stock
of the Western Securities Company,
which is a capitalization Of the renewal
interest that has heretofore gone to
the general managers of agencies We
pay no renewal commissions to agents
but pay salaries instead, commensurate
with the ability of the Manager and
the responsibility of the position. The
vast sums Of money in the form of re-
newal commissions, which exceed IN
the aggregate all first year commits
sions, are capitalized through the or
ganiZation of the Western Securities
Company. and q profitable investment
thereby afforded to our policyhOlderS
and to the general public. This brings
in close sympathy with the Continent
al Life a larger number Of men who are
interested in its success
The third part, and not the leas
important, is the policy contract We
offer to the public Without going in
to details, we believe we have made
the most liberal contract that can b'
offered, consistent with safety. w
have Incorporated all the desirable fea
. lures contained in the policies of TIT
leading insurance companies, and w
. offer to the public the best results o
the experience of the past.
TO CONCLUDE:
FIRST: The Continental Life Insur
: ance and Investment Company is al
Organization which includes in its scop
the western field, a plan and purpos
, to build UP an extensive business b,
modern methods of organization, an
to mutualize as far as it can be done
a strong capital stock Company, and t
, furnish to the public the best there
: in modern life insurance.
SECOND: The Company stands 70
! honesty and integrity in its bushes
! transactions, with nothing to cOncea
! regarding its policy contracts from tn
: public. It's nagement aims TO be az
gressive, but conservative in expendi
lures, anu II lilCCllQS " pic IL
, claims for public patronage W1thOU
/ undue cheap advertising. It propose
= to be open, frank and sincere with it
= poIicyholders and stockholders, hav
! ing nothing to conceal that is of vita
5 Importance to either.
2 I cannot close these remarks with
. out calling attention to the fact tina
= a Company is made up of its policy
S holders, its stockholders, its director
e and officers, and that the eXecutiv
: officers must have the support and as
sistance of all these in order to
successful; but after all the officer
, can say or do, the directors or tn
e stockholders, or even the policyhold
S ers, may say or do, there vet remain
. the great factor-THE LIFE INSUR
4 ANCE SOLICITOR. Business does nc
n come to the office, the officers do nc
S write insurance personally; the sole
s tor then, is the man to whom we mus
{ look for the business which will bull
S up this Company, and make it one
: the great factors of western civiliZs
, ton.
L We have present with US tonigI
| some of OIJr field forces and some