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Show NEWS OF THE INSURANCE WORLD ' Obstacle in Way. 'J'he attempt of tho accident companies to get together and write a standard policy, pol-icy, thun doing away with many of tho no-called "frills." ha3 been blocked, at loaat for the present. At a recent meeting meet-ing of tho International Association of Accident Underwriters, hold at Bret ton Woods. N. J I., a committee reported that tho crrort to eliminate- the "frills" had been made Impossible owing to the position po-sition taken by the large surety companies, com-panies, which have now gono into the accident business. These companies, it seems, want the privilege of renewing business now held by their agents in other companies on equal terms, while agreeing to a form for new business. This was protested agalnnt and charac-tcrlacd charac-tcrlacd aa another means of twisting and altogether unfair. The commit ten was continued. A large majority of the companies com-panies present evidenced their desire to go ahead in matters of policy reform, regardless of the sacrifices involved. Hit; Death a Distinct Loss. The death of Colonel George B. Squires, Insurance cotnml9sionor for Utah, removes re-moves an interesting figure from local Insurance circles and one whose place It will be hard to fill. Colonel Squires wa3 peculiarly fitted for the position of Insurance In-surance commissioner. lie had familiarized familiar-ized hlpisclf with all the intricate branches of the insurance business and worked hand In hand with those desirous desir-ous of uplifting tho profession. Due to his efforts many a "wild cal" concern was denied the right of doing business In Utah, and thousands of dollars wore thus saved the citizens, lie was a strict disciplinarian and a terror to the "re-batcr" "re-batcr" and "twister" and tho unscrupulous unscru-pulous agent. He had the true conception concep-tion of insurance matters generally, and 1 1 1 3 . death means a distinct loss to the cause of insurance, and the underwriters of the state will miss a true and valued friend. His successor, It Is thought, will be named right away by Governor Spry. Among those talked of as likely to receive re-ceive the appointment are Wlllard Done, who has practically had charge of the department since Colonel Squires first took III, a year or so ago; ITuprh A. Mc-Millln. Mc-Millln. state supervisor of United States census; Z. Henry Jacobs, real estate dealer and until recently local cashier for the National Life of Vermont; Colonel 13. B. Maun, clerk state conservation commission; Fred C Price, ex-state statistician, sta-tistician, and J. A. Edwards, former state auditor. Shawnee Fire Re-Insures. The Shawnee Fire Insurance company of Topcka, Kan., has reinsured its entire liability In the National Fire of Hartford. For some tlmo past it has been feared that the company was growing too rap-Idly rap-Idly on a small capital, and an examination exam-ination of the company's books showed a heavy unearned premium liability over the figures of January 1, 1910. The examination ex-amination which precipitated the reinsurance reinsur-ance of the Shawnee was made at tho instance of a committee representing the National Convention of Insurance Commissioners, Com-missioners, who selected S. 11. Wolfe, an expert, to take charge of the work. The Sbawnee was represented In Salt Lake City by the Glcsy-Walkcr company. com-pany. Operations of Lifo Companies. A correspondent , signing himself "B. I'j, c." writes Tho Tribune from Chloride, Arizona, under da to of September 20, asking for Information on fl) what different dif-ferent reserve basis life companies op-cralo op-cralo on, and (2) which is the better company for a policyholder, a stock or mutual? (1) Not only do different companies operate on dirforcnt bases, but some companies com-panies are operating on all three. The interest basis of a company means that at the time the policy was written the rate or Interest designated was considered consid-ered the lowest that money would earn in safe Investments Hike bonds and other Kilt-cdgcd securities) during a long period pe-riod of vcars. during which interest on the reserve would be compounded. In a mutual company on a 4 per cent basis, all ilie Interest earned above thai ralo cocs into surplus, to bo returned to policyholders pol-icyholders In dividend. So with all other Interest rates. The laic adoption oT 3i and P. per cent interest rate means that the Interest-earning power of money in general has declined and is expected never to recover. So that, instead cm espe'efing to obtain ,4 per cent net on sare investments. 3 per cent Is now assumed to he the sarest reliance. That w'jib what the Utah legislature evidently had In mind when the law or 1000 was enacted, plac- Ing the Interest at 35 per cont for the va luatlpn of all policies written after December :;i, iflOD. When the Interest mto falls It requires moro principal to earn out the maturity of a policy. Consequently, Con-sequently, premiums are higher when the basis is : per cent, lower ai 3J per cent, still lower at per cent, and lowest at 14 per cent, which twenty-five years ago was the basis of nil the contracts. In st number of western states, where the Interest rate, on good mortgage securities securi-ties Is very high, a per cent basis can be maintained if the companies Invest their funds at the highest rate of interest. in-terest. (2) The difference to a policyholder between a slock and mutual company Is thaL in a stock company writing what nrc known as non-nattlcipatlng policies, the company guarantees in advance the amount of the'annuiil dividends and allows al-lows them to apply on the premium. The mutual company, on the other hand, gives the policyholder the benefit of all us pavings In dividends, returnable' at the end of the year, or at the end of the premium-paying period. As to -which Is the better, no one can say. Doubtless tbe agent of a stock company would tell you his was best, and the representative representa-tive of a mutual company would tell yon the same. T3olh arc undeniably good, as experience has shown. Misleading Headlines. The United States Review, an Insurance journal published In Philadelphia, Pain Pa-in its issuo for September 22. contained an article the body of which referred to Spokane. Wash., but the headlines in black type, unquestionably meant Sail Lake City. Tho caption read: "Not Enthusiastic En-thusiastic Over Salt Lake; Its Fire Protection Pro-tection Facilities Are Poor" Acting Commissioner Done has written the publication calling attention to the error and asking for a correction." In his letter Mr. Done takes occasion to say a few good words for Salt Lako Cllv and Its excellent firo department and water system. Affected by New Law. The tabulation of the financial rcnorts of the life Insurance companies, incorporated incor-porated under the laws of New York affected af-fected by the requirement of the new Armstrong law. providing that all stock must be disposed oi within five years shows that up to the first of this year-with year-with threc-rirths or the time expired, the companies had disposed of less than H per cent or their total stock holdings. These were sold, however, at a very large prorit. amounting to J0.S73.025. .The companies com-panies have been forced to sell stocks which have given them, an average rate of 5.S per cent, and under the law will be required to invest the money in bonds and mortgages which have- heretofore averaged them hut 4.5 per cent income and as l.hf market is not propitious for the profitable sale of stock holdings still Ion hand, amounting to over SIOO.000,000, it I is presumed that an extension of time will be asked from tho legislature to avoid sacrificing them. j Insurance Notes. ! Former President John W. Whlttington of the National Association of Lire Underwriters, Un-derwriters, stopped off in Salt Lake on ! Mondav. September 2G. on his way to his homo In Los Angeles. While here be was ! the guest or the Utah association at a luncheon given aC the Commercial club. Unusual interest attaches to the annual meeting or the national convention or insurance in-surance commissioners now being held In Mobile. Ala. There are five days' acs- I sion in all. the first two consisting of ad- i drosses, reading of papers and reports I of committees. The third, fourth and fifth davs' sessions will be executive, at ! which the tcntativo fraternal bill will be I considered. I The Metropolitan Life, of New York , has conceived a unique idea of advertis-i advertis-i ing what it Is doing in Its present war on tuberculosis. At about 100 slato fairs It has arranged exhibition booths where j an accurate presentation of the particular i activities mentioned is civen. A work of great value and Interest to 'insurance on lives and the disabilities and accidents incident, thereto has just been issued bv the Charities Publication committee or New York for the Russell Sago foundation. ... , Tt is teportcd In the cast that a chain ; or mutual fire companies which arc said I to have been writing extensively In i Utah and clsewhero certain special har.- aids and single-source sprlnklcrcd risks ! have become overloaded and arc asking reinsurance. The blc eastern mutual have declined to assist and tho business I Is being prrercd to stock companies |