| OCR Text |
Show THE MUTUAL AND THE tONDS. it could not otherwise reasonably be expected than that the Mutual Life Insurance In-surance company of New York would avail Itself of the most plausible excuse ex-cuse It could find, to escape from fulfilling ful-filling Ms tender for the Salt Lake water bonds. There Is no legal objection objec-tion to those bonds; they were voted us the law requires, and there Is not even a technical objection to them, as has n ascertained in a diligent scorch by those who aro opposed to these bonds, and who would have been glad to find some ground upon which their Issue could be enjoined. But there was no such ground; the bonds aro absolutely unassailable. The contention of the attorneys at-torneys of the Mutual that there Is floubt about these bonds is merely the cover for the real reason why this company com-pany does not want to put its money In here. First and foremost, and probably sufficient to account altogether for this reluctance, li the organization of a life Insurance company by President Joseph F. Smith and his fellows In the rule of this churchly kingdom. The Mutual Is In the life Insurance business Itself. It recognizes, however, that It would have no chance whatever in competing for business with this hierarchic life Insurance In-surance company. Any Mormon wishing wish-ing to insure his life, Is of course counseled coun-seled to Insure In President Smith s company; no other Is in It with him The Mutual Life people have also, without doubt, kept themselves Informed In-formed of the progress of President Smith's attempted franchise grab In this city, and of the willing subservience subservi-ence to his demands by the Mormon members of the City Council, no matter to what extent of graft those demands go, nor to what degree they encroach upon municipal rights. The franchise as asked In the first place, in its most monstrous form, was acceded to willingly will-ingly by these subservient tools of Smith: In fact, they would not for a moment dare to resist any demand which he might make. And the sort of demand he did make shows what unscrupulous un-scrupulous demands he through his many present and other hatching schemes. Is liable to make at any time. to the Injury In-jury of the city and the paralysis of Its progress. While the subservience of the rniu,,.,rii sf Vile uhn nro rmw In the Council demonstrates the absolute peril the city would be in at any time when this foe to the city might have a majority of the Council from his following. fol-lowing. The men who control the Mutual Life Insurance Company are shrewd, practical prac-tical men. They do not deal with this matter as politicians deal with such phases of "the Mormon question" as come up In the political arena. They consider squarely and in the financial spirit, what is presented The ruinous competition which the hierarchy proposes pro-poses In the life Insurance business disgusts dis-gusts them, the absolute control which Smith exercises over his followers in the Council doesn't look good to them, affording a measure of peril that is liable at any time to become a great affliction It all shows how costly a citizen this Joseph E. Smith is to this place, and demonstrates what a menace to the city this absolute power of ruin, liable to be exercised by him at any lime, really Is. It is a severe lesson in hierarchic hie-rarchic mnrplotlsm, a blow to this city over the shoulders of crafty hierarchic commercialism, that will long be remembered. |
