Salt Lake Tribune | 1909-05-30 | Page 24 | Foreign Companies Must Toe Scratch

' flE!SI COMPANIES I MOST TOE SCRATCH t Three Insurance Organizations That Cannot Do Business in This State. Several foreign companies doing business busi-ness in this slate have failed to comply with tho now stale iusuranco laws, ro-quiring ro-quiring joint stock insurance companies to have a capital and surplus of at least .$300,000, and accident insurance companies com-panies a surplus of at least $100,000, and arc. therefore, disqualified, Stato Insurance Commissioner George B. Squires says. Tho following nro the companies that have failed to qualify under Iho new laws. The National Livestock association, Portland. Or.; tho Western Lifo & Accident Ac-cident Insurance company, Denvor. Colo., and the Farmers and Merchants ' Insurance company, Lincoln, Neb. Tho last named company proposes lo raiso its capital stock to 100.000 and add $.00,000 to its surplus, but until this is dono its charter will bo susponded. Tho German Fire Insurance company of Peoria, 111., has gained a sufficient surplus, Commissioner Squires says, lo enable it to qualify and renew business busi-ness here, and blanks havo been sent to it to this end.