The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-01-29

| oral office In San Francisco ut this time,
and from which the general business OF
| the company can and Will be conducted,
as well as from the general home Office
In Salt Lake city, is but In keeping with
this original idea OF making a Weston
| company and bringing into its fold az
| much influence from as many sources as
possible. realize that there is somc OBJ
| lection, and that there are difficulties In
welding and moulding an organization on
this plan so as TO get tho best effective
results. but, so far, no ono will dispute
that our success has been phenomenal.
We have enlisted as stockholders. dlrec-
tors and poicy-holders some OF the best
men TO be found In the West; this shows
that the plan has met with their npprov-
| al, and the company Is receiving, and we
| hope VIII continue 10 receive. the npprov-
| al or the public.
In Heart of West.
We selected Salt Lake city as the homo
| It's great prominence ae financial or
| business center. although 1t stands well
| In both these. but on account OF It's geo
| graphical location being In the heart Of
| the Wcst-a railroad center easy to reach
| from all directions. We have always
| had In mind the establishment Of q prin-
| cpal Office in San Francisco, on account
| OF its being great financial and com
| mercial center OF the Pacific coast We
| have now realized this ambition. and this
| meeting here tonight Is to commemorate
| the establishment OF this Office
San Francisco Men In.
|
| here some OF the prominent citizens of
| San Francisco, men Of financial and busl-
ness strength. well known not only
throughout the State OF California, but
| throughout the entire Western country.
We have also in Salt Lake City on our
| board OF directors and among our list OF
! policy holders and stockholders some OF
| It's best citizens. From these two points
| we expect to operate the business OF the
| Continental Life Insurance and Invest
| ment company
| There are two features very important
ones, 10 which | wish TO call special at
| tention:
Explains the Contract.
| one Is the recent business transaction
| which enables the company TO conduct
| all its business with On absolutely limit
ed expense account / think this is OF
| greater Importance than most Of you
| fully realize, In view OF the fact that
| amount which the policy-holders contrib
| ute for that purpose, and thereby en-
| croach upon the surplus earnings when
| should be returned 10 them. II Is GER
| talnly very important announcement TO
| the public, TO the policy-holder TO the
| stocEholder and TO the agent that here
| Is one company that will not spend one
| single dollar from the funds belonging to
| the polcy~holder for expenses N diri-
| dends TO stockholders. That all its eN-
| penses are paid from the source which Is
| Understood by all. and our representa-
tyes can 20 to the public with more con-
| fdence and more assurance than those OF
| any OF the old companies, whose records
| for expenses arc being so severely criti-
| Ciscd
Will Stand the Test.
II Is true that because We have made
this departure our competitors are likely
| 10 try TO find como vulnerable points OF
| attack. but so confident am l of the wis
| dom Of this transaction on our part that
| am willing TO rise or fall by the results,
| and | believe that every solicitor present
here tonight and connected with this
compau the field has more confidence
I In the npany and It's future success as
| a result OF this contract than he other
wise would have had.
Sale Of the Stock.
The othcr important step taken by this
! company was done at It's board meeting
| yesterday In this city, when the board OF
| directors determined 10 place 100 shares
| Of It's capital stock at the disposal OF It's
| future policy holders. This. In my Judg-
| mcnt. was one OF the w'seSt moves the
| company could have made. IL gives y
polcy-hodor in stock company an 0p-
| pOrtunity 10 become a legal stockholder
| Without paying anything for his stock
| other than what he pays In his premiums
| for his insurance the same amounts that
| he would otherwise pay 10 any other
| company. This gives large number OF
| policy-holders all the legal rights Of the
| original stockholders. and answers all tie
| arguments that can possibly be made
| against stock company on account OF
It's limited control by a few men.
| Aim to Build UP.
This decision Of the board Of directors
| is lu Keeping with the central thought
mentioned sboNC-th1t our aim is to build
| a large Western life insurance company,
| and 10 interest vitally as many men as
| possible In every Investment the company
| has to offer TO the public, namely; It's
| capital stock. It's policy contract, and a
| participation in an investment OF the gem
| eral agents renewal commissions, cap.-
| talized for this purpose through the stock
|
| pany.
! Explains Advantages.
The result of the first opportunity
| given Is large number OF original stock
holders In the company; second, there
| will be a larger number OF persons who
are both stockholders and poucy-holders /:
and third, there Will be a large number
| OF investors In the capital stock OF the
| Western Securities company, which Is
| capitalization or the renewal interest
| that has heretofore gone to the general
managers Of agencies We pay no re-
| ncwal commissions TO agents. but pay
| salaries instead. commemorate with the
| ability OF the manager and the responsl-
| bllity OF the position The vast sums OF
money In the form OF renewal commits
| Sions, which exceed In the aggregate all
| irst-ycar commissions. are capitalized
| through the organization Of the Western
| Securities company, and profitable In
| VcstmCnt thereby afforded to our policy
holders and to the general public, This
brings in close sympathy with tho Con-
! tinCntal Life large number OF men who
are interested In its success
Liberal Contract.
4 third feature. and not the least i'm
! portnnt Is the policy contract we otIsr
| to the policy holder Without going into
| details. we believe we have made the
most liberal contract that can be offered.
| consistent with safety. We have ncor-
| porated all the desirable features con-
| taincd In the policies OF the leading inSur
| ancc companies and We offcr to the public
| the best results OF the experience OF the
| past
To Conclude:
| First-The Continental Life Insurance
| and Investment company Is an organiza-
| tlon which includes I'm It's scope the West
| ern field a plan and purpose TO build up
! an extensive business by modern methods
| OF organization and TO mutualiZe far
| as Il can be done a strong capital stock
| company and TO furnish TO the public the
| best there is in modern life Insurance,
Stands for Honesty.