The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-10-31
To Reduce Cost OF Insurance.

a question tDa' rs belnG ul3cNa3cu nlO'li
OF late in the cast is tho present cos
of Insurance. held by many to Inc alto
ccthrr loo high Companies say that
there will never be suv apprcciahle re-
ductiou in tho cost of insurance until
the losses are reduced. 1t ig claimed
that there arc q million and . half per-
sons who die every year and nearly four
and hall million who are siclS enough
to require treatment, Then, again. IT "
estimated that there is about $500, 600 900
uf property burned every year. and mill
ions lost and paid out on accidents. Nu-
merouS plans have been promulgated from
time to timc for reducing insurance ralcS.
and the one recently proposed By Dr j.
Peasc Norton OF Yale university has
excited more or less artenIlon from the
fraternity in America His plan is io
organize a league of pnlicyhoders of
America and then proceed to remove as
many of the causes OF death. accidents
this will be The only way in which The
cost of insurance can he reduced. Dr.
Norton also makes the point that the
government at Washington has been ap-
propria,inG five million dollars a year To
promote animal and plant life, while II
has done nothing to conserve human life
surance officials is that federal control of
insurance will he the only plan by which
any reduction may he looked Tor, and
there are those who predict that that day
however is receiving tho encouragement
and promise of cooperation from the in
sursnce companies everywhere.
Commissioner Done Is I'm receipt OF
letter from the editor Of the Popular
Insurance Magazine. New York. who pre-
scutS the plan proposed by pr Norton
and asks for an opinion from his depart
mcnt regarding The same. Mr.. Done, IN
submitting his reply. deals with tho life
phase OF the question only. lie says, in
part:
''H is a we'll known fact that the cost
Of life insurance is governed almost en-
tircly by tho death rate. Therefore, IT. is
q matter OF economy for every possible
effort tn he made to reduce tho death
rate and accomplish a corresponding re-
duction i'm The cost of life insurance |
think that tho po!icyholders can organize
themselves and 60 cooperate very efficiently
With the Insurance companies in The work
of proonginG human life, decreasing the
death rate, and incidentally lowering the
cost of this necessary protection. You
| may count on the continued co-opcra tion
az this department in efforts looking TO
| this result"
Fight on Fratcrnal Bill.
AS previously set forth in these col
| uniform (ratcrnal bill agreed upon by the
insurance commissioners and leading fra
| ternal officials at the recent convention
| held in Mobile, Ala, VIII not pass with
out strenuous night, An individual
named James r. Barnes OF Buffalo, n, Y.
i is sending out broadcast copies of an
|
claiming that il is a betrayal Of true
rraternal interests. Barnes claims that
with but few exceptions the insurance
| commissioners Of the various states are
united upon killing fraternal insurance in
| the United States in the interest OF the
old line companies: which he is pleased
leges that the New York department.
which is credited with being the most
active in demanding state supervision and
| adeGua Le rates, Is the most arbitrary OF
all the state insurance departments
A copy of the proposed bin IS now in
the possession Of State Insurance Com
| estea TO call at his Office and look 1t
| over 1t viii he one of tho measures
! which will received consideration at the
! hands of the legislative committee repre-
| scntinG the life insurance interests in
| Utah.
A Wise Precaution,
Arizona proposes 10 profit by the OK
periencc of other states by placing in the
state constitution d provision to elimi~
nate wildcat corporations and irrespon-
siblc promoters OF various schemes. The
! constitutional convention is now being
held at PhocnN and an article, submitted
by Delegate Ellinwood, containing the
above provisions. was adopted, 1t FUR
lhcr provides for the making Of stock
, holders liable lor corporate debts, as well
Us unpaid portions OF capital stock, and
provides a corporation tax In proportion
| TO capitalization.
Reinsures With National.
The National Fire Insurance company
of Hartford. Conn, has rcinsured the
!shawnce OF Topeka Kan. which recently
| went TO the wall, assuming all the out
standing obligations of the detunct COM
pany. Shawnee policy holders In Salt
! Lake City aud elsewhere ia the state
arc advised that they need no new poll
cies. but IN case uf loss through ire with
in the policy period they should report
same 10 amy of the following agents OF
the Natlonai; The wilson Sherman COM
pauy. Rogers & Evans. Sale Lake CITY
w, y. Pcirce j. J. Erummitt. Ogden: L.
". TIcldaway. Provo; Il w. Crockett
Price. 6. W. Bryan. Mcrcur; E, d. Rob
rets. Green River
Guardian Life Insolvent.
The Guardian Life of Seattle. prac-
tically new concern, has been declared to
be insolvent by Ihc Washington state in
surance department and the officials have
been directed to wind up the company =
| business. II is claimed that large pro-
portion OF risks had been written with
cut proper medical examination. il is
stated that the International Life OF st
Louis Will take over the desirable policy
holders and the others Will he permitted
To draw down tho not value of their
poicIes as of October 10. 1910. Any
policy holder residing IN Utah Is advised
TO confer regarding same with the stor'