The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-08-24

or those sums 100000 was by cash and
100000 by stock dividends. In 1906
it increased its capital by S750,000-
making its capital $2,0oo0 0oo-of which
$1,000 cash. That is what the Guard
ian advertisement said. The ADVERTISE
ment distinctly states that 100000
premium was paid for the $75O,00O
stock sold. Out Of nine companies
cited, Mr.. Grant makes no reference
but to one, and does not question the
statement of their profits.
Perhaps the whole offense to Mr.
Grant respecting the organization of
voluntary puff Mr. Grant permits the
Home Fire to pay for regarding himself
as the organizer of the Home Fire
6 In this Connection he says, cit
might be interesting to note that not
a single dollar has been paid by the
stockholders of the Home Fire Insur-
ance company of Utah as promotion
fees, 1t might be as interesting to
inquire why in the past ten wears it
has cost the Home Fire 467 of it's pre-
MUM income to disburse for fire losses
36.7 Of its premium receipts, 1t might
also be interesting to know why the
Home Fire loss ratio is so high while
that Of other companies doing busi.
ness in this state is so low. In this
connection 1T might also be well TO note
that the expense ratio Of foreign com
panles for the past ten years is a little
over 81 per cent. The expense ratio |
of all companies doing fire business in |
the United States is under 80 per cent |
of the premium paid for fire insurance. |
while it costs the Home Fire, under r.
management of Heber j, Grant & Co.
1t Is also worthy Of note that the
Agency company has offered to make
a contract with the Guardian Fire In.
surance company to handle all its busi.
ness and pay every expense of the new
company for ten years for 40 per cent
of its premium income. 1t is also
worthy of note that the Agency com.
pany will undertake to put on the new
company's books 100000 of accepta
bic premiums the first twelve months,
or practically as much as Heber u i
SIan6 ,,i6 has has been able to give the Home
FIRE after twenty-sevcn wears of as
Siduous labor. And il is also interest
ing TO note that while Mr. Grant ad
vises the people of this section to keen
MONEY at home by buving insurance ir
.he Home Fire. that all but about S45,.
]oo or the premiums written last wear
oy that company was sent out for re-
insurance IN eastern companies. ex
,ept the commission that stuck to II
|
considerable block of the Home Fire |
,fock is held IN the east, and that The i
Home Fire is used rs a torch TO loht H
he heaven with the legend - Een,, |
money at home, while sendinr mart of
Us dividends away?
II the new fire company makns ,
,ontract with the Agency comnany
Uniting its expense ratio to 4o '1"E ncr
'ent. while that Of the Home Fire con :
luues to be 500, as it was in 1919 or 4
Increases as Mr.. Grant intimates tben
ne 70 per cent promotion charged nnr
hasers or Guardian Fire stock will ho I
Is nothing to the % per cent nlns
'reater expense ratio Of the Home Firc
ears !" 'e"
inns ls the answer to the uncalled for
eferences, to the 20 per cent promo.
ION fee that is charged to secure snb.
crlptions to the Guardian Fire
We contend that charge is inst FOR
he reason that the new companv yrber
rganized, will make money from The
ay of its organization. II is 60
edged about and protected bv agrec.
nents that it cannot lose becanse i
ays nothing unless money is bronobt
IOr premiums. and its oxnonc. -: | =