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Show BIG INSURANCE OMALTAIR SALT LAKE, June 2 Quite a stor has been created in local insurance circles by the nes that the Salt air Beach company, through President Nelson, who has just returned from a foreign trip had placed $300,nn0 Insurance In-surance on the resort in English and Canadian companies. Manager J. E. Langford of the Salt-air Salt-air company said today: "Years ago we had a rate of between 2 and .i per cent on our Saltalr property, but the local companies have kept raising and raising until finally they reached a prohibitive stage nud forced us out. It fiually got as high as 7 1-2 per cent; then dropped back to G or f. 1-2. Ajid we balked on that. We might hao been willing to have paid 4 or 5 per cent, but not the rates asked We carried about 50 policies In local companies, com-panies, which have been lapsing mie at a time, until we had little insurance on the beach prior to Mr. Nelson's trip to Europe. Now nil local policies have expired and we have only the new policies at rates half what we could obtain at home " A manager of one of the oldest and most prominent local Insuranco companies com-panies was seei'sthls morning. The following is his 'lerslon. " Of course we, would like to have kept this husine.fs at home, but I do not blame Mr. Nelson for placing It abroad with iwch reductions in prices. With each now concession at Uie beach the danger and liability were increased, and naturally enough the rates must ?o up, until thev no doubt did reach near the prohibitive point, about C per cent. "On account of evading the state tax of 1 1-2 per cent on the premium, and the varlou state fees, amounting In this instance up Into the hundreds of dollars, foreign companies can af ford to cut loral rates. This deal will take out of the f.tate probably $10.ono o year. But foreign companies -not complying with the stringent stato regulations are liable to get themselves them-selves Into serious trouble If one of those foreign agents come into Utah he will be subject to arrest.'' Mr. Nelson was present at the funeral fu-neral of King Edward. He took his n-yearold son , with him ro France and left him at school there. |