The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-10-24
Personal Bonds Too Common.

II is rather surprising that personal
bonds are still given and accepted in
so large Il proportion OF cases. 1t is
reported that at least SO per cent OF
all the bonds given in court proceedings,
pTobnse in Psrensr arc signed by In
will rarely take personal bond. but
VIII require their employees to furnish
corporate suretyship In that respect
orpmcnts are far behind the best mod
crn business practice. II Is a we'll known
fact that in numerous cases private
boudsmcn really unable TO qualify;
and when IL comes TO collecting under d
private bond the troubles OF those in
tcrested arc legion. In number OF
record the fact OF suretyshlp in the Of
fetal public records and such obliga-
tons arc made mortgage or lien on
seem NJ first like harsh rule, but in
the case OF some classes Of bouns at
least Executors and suardians' bonds.
for cNampc), the rulc seems justified
| torost in tho transaction. The .practice
should he more widely adopted.
Cause of Much Concern.
Accident company officials have re-
ceTycd AN iniinaton that the insurance
departments Of New York and Massa-
chusctts Will rule that the new standard
provision law will he applied to renew
! ais of policies issued prior 10 January
l.
however the commissioners will gran,
| a hearing at a dato yet To he set. Pres
idcnt George +. Seward of the Fidelity
| and Casualty company has said that Tho
| proposed laws would rcsul! in 4 very
| great shock To the accident and health
| Insurance business and he urges his
| associates in tho business TO be repre-
| scented at thc hearing. He contends that
| tho law was not Intended 10 apply &c
| renewals or 1t would have been Nordeo
differently ny tho insurance rommissinn-
| 1,,, stNSl n
| oughly Informed OF tise difference be-
| tween a renewal and al original issue
of a policy: further, that ii would great
| " Increase expense and labor besides
| causing much loss OF business. and thai
II would void many policies on person:
travelling away from home, who have
| their policies. but who could NOT be
| reached to get signed applications
| These would lie left without Insurance
and without warning. He urges that Tho
| law hc left for observation. giving au'
pic time for adjustment.
insurance Cougrcss Planned.
Plans arc under way providing FOR thu
| holding OF a worlds congress of iusur
auce interests AT San Francisco during
| the Panama Pacific exposition in 1918
Tho Life Jnde rwritcrs 38Yociation of Sal
| Francisco has unanimously adopted res
| oIutions offered hy w. j.. Hathaway
manager for tho Mutual Life, laNorint
| the proposition. The National Associa
|
| given it's pledge for the convention o
| 1915 to he held in san Francisco, ap'
| other insurance organizations which,
| Is believed. will readily participate II
| tic congress. arc: The Association o
| Life Presidents. ActuriJl Association q
| America National Convention of lnsur
aucc Commissioners. American Life Con
vontiou and Medical Exchange. The as
| sorlationS named include lite INSURANCE
| only, and II Is believed that many fire
| casualty and fratcrnal bodies viii jolt
| the "thcrs and extend the congress owe
| several weeks.
Fire Companies Lose.
| The Comuc rcisl Union Assurance com
| psuv ard tho Alliance Assurance com
| pany both Of London. England, wer
! given adverse decisions in the Upitc'
| states Circuit court at san Fraucisc
| last week in four cases growing out %
! tho great fire and earthquake Of 1906
| and aSgrcgating $l3S,IS5 The conpa
MICS pleaded the earthquake clause II
| their policies aud gave that as a rcs
son for not paving tho losses. Evidence
| WAS given showing that in each cas
| the destruction Of the property was du
| la the earthquake. and not io The fir
alone. Tho jury ignored this phase Of th
| evidence. however. The Insurance com
| ua MES claimed that II WIS impossible
| FOR them to pay losses under the earth
| quake clause In their policies, as. undo
| The English law. such payments mus
| he made with the unanimous consent o