The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-05-15
Standing Committees Are Named.


]. V. Smith. president of the Utah AS
sociation OF Life Underwriters at spe-
cial meeting held at the Commercial club
Tuesday evening, May .. announced his
| FinaDce-Frank Mozley. chairman. d.
| H. Livingston, c, +. Kutnewsky, Julian
F.. Smith, A. l.. Nelson
| Entertainment-W. f, Conover chair
Frank j. Rawlings. William l., Keller
Membership. W. Hirschvoeel; chair
pan pe,ods C. F. knapR' r. W: s5@inard' A. d.
Press and Publicity-John James.
chairman; VIII G. Farrell Fred C. Hath
away. Joseph Meitzer. f. J. Linn:
! stitution and bylaws failed OF passage
| in its original form. The idea at first
was that all eX-presldents of the asso-
citation should become eX-officio mem
Ders Of tho executive committee. The
resolution as offered at the recent annual
meeting was amended, which In future
coming identified with the executive
committee. This latter action made Jo-
seph Metzer, who. until the recent cleo
tlon. WAS the associations president. an
N-officio member of this committee
The association is In for active work
| this summer and movement Is on foot
among the members 10 meet two or three
times each month and discuss subjects
pertinent to association work.
Naturalization Of Equitable Life.
The bill introduced in the New York
legislature last Tuesday to facilitate the
naturalization OF the Equitable Life As
surance society amends two sections or
the New York Insurance laws. One
amended section Will permit insurance
companies TO acquire their own stock.
| The other will allow stock insurance
company to become mutual in plan by a
majority vote of The directors. approved
by a ma ajority vote of the policy holders
The plans must also be submitted TO the
state Insurance department for approval
Tn inn nj
note that the Phoenix Mutual Life Of
Hartford, Conn, was mntua!ized about
twenty years. ago AT that Time the
Phoenix president owned about 1902 of
the 1000 shares of stock and was about
TO dispose OF them. The state insurance
department. and the policy holders got
In effect an amendment Of The com
psny's charter. II authorized plan
whereby, with the approval Of the de-
partmcnt and the policy holders, all of
the stock could he acquired and paid for
out OF the surplus Of the company. The
Phoenix became mutualizcd without
serious shock. Some Of the Stockholders
held out a long time, but ultimately all
shares were purchased and cancelled,
While the problem in the Equitable
Is masnfied many times owing to ITS
Life says Superintendent Hotchkiss,
ut is believed that with the enabling
Legislation suggested by the b!Il plan
can he carried out which will In rea-
sonably short time accomplish the same
result for the Equitable Life"
Profits Decline in Fire Insurance,
\ tabuIation by the Spectator Of
New York OF the net underwriting and
investment profits Of one hundred of the
largest fire insurance companies oDerat-
ing in New York. shows that the COM
blncd underwriting and investment
profits for 1910 fell 81 ono 600 below those
ings was $4,000 900 and IN underwriting
earnings S2.000.oCo. OF the one hundred
companies. sevcnty-seVen made an un-
derwriting profit in 1910 the others los
last thirteen years the companies tebu-
lated made collective underwriting
the other wears the underwriting loss
was 55 per cent Of the earned premiums
Will Make an Investigation.
The officers and members Of the Utah
Association OF Life Underwriters are de-
termIncd to see that the ethics Of the
by the laws Of the state. shall be strictly
observed by both agents and their conf
pan!es. they viii know the reason
why, The matter came up at last weeks
Vision being made for the formation of
a new standing committee. This COM
the Commerctal clubs grievance COM
niittee. One of the duties OF this new
committee VIII be to sec that the con-
duel OF Utah life agents In the matter
Of soliciting business, particularly where
competition is involved shall he abso-
lutely above reproach, IT was stated at
the meeting referred 10 that tho repre-
scntatives Of certain life companies have
Of late been sending out circulars making
ridiculous and unwarranted comparisons
of certain policy forms. the intention un
doubtedly being TO misIead the prospect
for insurance. Just AS Soor as the new
committee is appointed by President
Smith. the agents referred 10 Will he
cited To appear before il and explain
some Of thcV actions. In case of fail
ure to get satisfaction IN this manner.
the matter VIII be laid before Insurance
Commissioner Done. who has already