The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-10-03
ObstacIe In Way.


The attempt OF the accident companies
10 get together and write n standard pol
icy, thus doing away with many of tho
so-callcd ''frills." has been blocked at
ing of the International Association of
Accident Underwriters. hold a, BRETON
Woods. N. H., committee reported thar
been made impossible owing to the Do
sition taken by the large surety COM
panies, which have now gone into the
seems, want the privilege of renewing
business now held by their agents in
other companies or equal terms. while
agreeing TO form for new business.
This was protested against and charac-
teri2ed as another means of twisting and
altogether unfair. The committee was
continued. A large majority OF the com
panies present evidenced their desire 10
so ahead in matters of policy reform.
regardless of the sacrifices involved.
His Death Distinct Loss.
The death OF Colonel George b Squircs.
insurance commissioner for Utah, re-
moves an interesting figure from local
insurance circles and one whose place it
viii be hard to All Colonel squires was
peculiarly nttcd for the position of in
surance commissioner. He had familiar
lied himself with all the intricate
branches OF the insurance business and
worked hand in hand with those desir-
ous Of uplifting the profession, Due TO
his efforts many a wild cat concern
NdS ueIleu lic right VI NOlnS UuSlUsSS
in Utah, and thousands OF dollars were
thus saved the citizens, He was n strict
disoiplinarian and terror 10 the re
% oaier and, and tTister MS @ end and the, the umseru"
tion OF insurance matters generally. and
his death means a distinct loss TO the
cause of insurance, and the underwriters
OF the state Will miss a true and valued
friend. His successor It Is thought. will
be named right away by Governor Spry.
Among those talked of as likely to re-
who has practically had charge OF the
department since Colonel Squires first
took ill. "A year or so ago, Hugh A. Me-
Milliu, state supervisor of United States
census; H. Henry Jacobs, real estate
dealer and until recently local cashier
for the National Life of Vermont; Colonel
b. b. Mann. clerk state conservation
commissions Fred c, Price. ex-statc sta
auditor.
Shawnee Fire Re ensures.
The Shawnee Fire Insurance company
Of Topeka, Kan, has rcinsured its entire
liability I'm tho National Fire OF Hartford.
For some time past it has been feared
that the company was growing too rap
Idly on n small capital. and an exam
nation OF the companys books showed
The figures OF January l., 1910, The cx-
animation which prccipitated the reinsur-
ance of the Shawnee was made at the
Instance, Of committee representing the
missioncrs. who selected :. III, Wolfe,
an expert. 10 take charge Of the work.
The Shawnee was represented in Salt
Lake City by the Gicsy-Walkcr COM
pany.
Operations Of Life Companies,
a correspondent signing himself e.
u. g." writes The Tribune from Chloride,
Arizona, under date OF September 20,
asking for information on % wha, diff
ferenL reserve basis life companies op-
erate on, and Cd which Is the better
company for policyholder, stock or
mutual
QD Not only do different companies
operate on different bases, but some COM
paules are operating on all three. The
interest basis of company means that
at the time the policy was written the
rate OF interest designated was consid-
cred The lowest that money would earn
in safe investments (like bonds and other
gilt edged securities) during a long pc
riod OF years. during which interest on
the reserve would he compounded. III
q mutual company on a I per cent basis,
all The interest earned above that rstc
Goes into surplus. 10 be returned 10 pol
icyholders In dividends. So with all other
interest rates. The late adoption OF 81
and 8 per cent interest rate means mat
the Understanding power OF money IN
general has declined and is expected
never TO recover. So that. instead OF
cxpccting 10 obtain 4 per cent net on safe
investments per cent Is now assumed
To he the safest reliance. That Was VIDAL
the Utah legislature evidently had IN NINA
when tho law OF 1909 was enacted plac-