The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-06-20

hope for the good OF all that the or
dinance will be speedily made into law"
CHIEF Glore. OF the fire department
when seen said that probably no one out
side OF himself and bis co-laborers. knew
better of the bad condition of Inside
wiring in the city, tine wonder TO him
| being that many OF the fires were moi
attendant with the loss Of life. The
men would welcome the appointment OF q
competent man for electrician and for
that reason he was anxious to see the
new ordinance enacted and made law.
Room for Them All.
Whenever a new insurance company is
launched, IL becomes the object OF more
or less ridicule on the part OF competi-
tors and others. mainly because IT is
| new This is strikingly true with re-
spect 10 western companies, who are al
once made the target for sarcasm on the
part OF eastern concerns, who use the old
time argument that there are already
enough companies TO accommodate all
the business that is available without en-
courasing more" The Insurance Field In
its Issue for June TO- treats the subject
in most interesting manner. It says;
III ought TO be apparent that merely
as matter OF balance every well popu-
ihtcu section OF the country should pos
sess its own sound and we'll managed In
surance institutions, drawing their sup
port from other sections as we'll but rem
dering their own important financial
Gated. The investment values of large
HE insurance companies are of enor-
nous importance to localities. We do
not mean 80 intimate that these invest =
! ments by the already large companies are
not widely distributed upon a scale of ma
tional safety; but there is Il class of local
and sectional securities everywhere. such
rs Hen notes and real estate mortgages
that could be found very profitable under
careful local management and which
companies at distance cannot as yet
aliord 10 handle A company anywhere
can contribute its share 10 securities
based upon national necessity. but TO the
local necessity only the company with a
local understanding and knowledge can
safely turn.
True, 1t may he that some or many
proportionately Of the new companies
may retire al a loss: but that is also
true in every line of commercial or f.nan-
clal enterprise. Under the laws that now
govern insurance, policyholders are fairly
wen assured against loss, and, as for
stockholders. they must always take the
chance What is being said OF the new
sI., wes.eth ana southern companies now was
almost exactly said many years ago In
sarcasm and dcrision of some of the
solildest and best companies now surviv-
ing as landmarks of success and honora-
bic performance. The early history of
some OF the best OF them was A story of
hoidlng ON by their oyelashes and win
nlnG out by pluck and persistence In
surance is not a pre-cmption of any one
"'S'''i. II 10 q UNIVERSAL DrlnClDlp to he
mastered and applied anywhere Sound
Iinanclerjng, careful selection of liabiIl-
Tics. good organization for salesmaushin
ano an honest purpose will make a sue
aolc population. The lack of any of these
Factors VIII prove fatal anywhere"
Non-Admitted British Companies.
Lloyds Of London England and n num-
Der OF other non admitted British com
panieS arc denying liability on q loss of
Ire Nicho,s & Langworthy Machine com
pany plant In Rhode Island and
through this real test will he made as
10 the night OF these companies TO do
BUSINESS s under circumstances that Will
pany of the United States.
Ihe hrfn referred TO was in financial
straits. and being unable to meet the
premium on 100000 of fire insurance, the
a total of s35o.000 was placed with regu-
larly admitted foreign companies, the
balance going across the to Lloyds
and others. The four admitted compa riies
have settled their losses, while those non
admitted have refused to pay a cent
n receiver has brought suit, but he
had to so 10 England TO do il. Further
more. the case will have to be tried there
at an enormous cost TO the plant com
pany.
Even il the firm should get verdict
it Is doubtful whether II viii! come out
even. Expense is a dear school,
Insurance Department. Congratulated,
President Joseph McltZer and Secretary
j. V. Smith of the Utah Association OF
Life Underwriters have written to Colo
mel George y. Souircs, insurance commits
sloner, conGratulatinG him upon the eff
cient manner the department has been
handled since he assumed charge, a little
over year ago
perhaps one OF the most urgent needs
IS that of educating the public along in
surance lines" the letter reads, Warn
Ing regarding general and special insur-
ance matters. either by direct counsel in
person. or through the columns of the
daily press. We were highly pleased to
note what was said to the representative
of The Salt Lake Tribune May IS This
of itself suggests that the department is
going further than IL is required TO dis
charge its duty 10 the public in warning
ii against the trap into which it may
fail"
The communication also congratulates
Colonel Squires In having in his depart
ment one so well qualified TO carry on the
work as Willard Done. and concludes
with best wishes for Mr.. Squires's COM
plete restoration 10 health. and assur-
ances of the support of the association al
all times.
President Buckner an Optimist.
President Thomas A. Ruclner OF the
New York Life has just concluded n
seven weeks trip through the south and
west, which included Salt Lake and the
coast. In an interview given one OF the
New York daLies Mr.: Buckner said: