| Show STIlE WILL WAGE WIGE W Vt AR R fOR HONESTY Suspicious Insurance Companies Arc Are Doomed to Combat Officials I UNDER UNDERWRITERS TO LEND L ND AID AIDt AIDi AIDI I In nh Sat i t t Juo jue 1 11 to 10 tOt t for Clean 1 jj campaign for honesty li Iii IiiI I In a 11 lead id j T TO io li in pertain to tome lb I I wad wa tho thI th I I II awl II announced by 1 1 y Iho Utah Life Underwriters ot of f 11 r S annual Saturday t M ig It thiril gathering was held In tho the thoI theS The Tuje hail iatI of ot the tho Commercial i S IU I Q QIU n and M attend men and by b women ov r friends uj ull 0 itera k occasIon wa nII much enjoyed both bolh T e Itself and with re to ren tord the tho b HIlIet L to t addresses made malle after attel the tho rd to 10 n had boon ben disposed of ofTe 4 fed od to eat ent best The Te nL menu was ws fined filed the tho Rattan creations of ot the clubs chef chet Interposed tho various courses were z P harmony with the tho event in I fn f d nt sC ng that hat while life U La h ti chance For Fort ForI certainty K 1 i a dent dead lr urn co arrangements a II commit I t hn Ih which had bad na ns Its mcm mern tee char tee nD D Spencer M L Robinson HOb Inson 1 hers John and Joseph V Smith The Tho I John James I composed ot otwin 1 committee was as program IL G Farrell Union nuion y S Wells Wella D i II I II win VIII and 0 O Oli John D iD Spencer li The committee on n j I n I members Rudolph Konold KonoldE bad M lion Jones A G 0 Alien Anen P F J flaw 1 K E D a V P WenS WellS D F r Ed EdI Jf V W Peck H II George I T woin Flom onn U t I S Wells Vens was vas Smith Union Hulon 1 J i F and by b 4 r and was Introduced en Will G F Farrell Farren roll Response R made de by b N G 0 The Tho rc original lM Man Inn of ot IMS 1908 A C Shaw Money Ioney Mad D H Living The Tho The Agent and flU tim tho Public PublicS 1 j ton S 8 Wallace The Tho etl W V Li iJ Musical numbers which G ose greatly to 10 tho tue enjoyment of ot tho numbers by 1 evening WHO were two piano Ev E Ean 4 and Miss Edna who rho Mil very sweetly an JI laughs b by nd t Cupid Comes by White J The Minor Imor of Is Jg Honesty I the subject of ot un an address which I was US was to 10 have boon been given Ilven by b President Joseph F Smith Because e of an over l engagement President Smith I found himself unable to attend and Lent nt his the tho announcement ot of which occasioned much disappoint ment I The principal address of ot the evening by Col George B D Squires assistant secretary of state stale who Is In III charge of ot tho the Insurance department of ot I the tho Mate and whose utterances In fa ta j vor or of or Q bettor better things thing In Ute fife insurance I were enthusiastically applauded Col ColI I squires s declared that thaI the po tit tt the tho state Is in decidedly I hostile to suspicious Insurance corn com comI I panics against whom strenuous warfare I is to 10 bo be waged l In this ho he asked the 1 support of ot alt all honest Insurance men In InI inthe I the tho stale stame Col Squires also paid a It high 4 1 tribute to te the tha life lite Insurance man as a tor In Interest In Iii InI I part he ho heA said A year enl ago your association was wasen en enI engaged I gaffed aged In II a struggle to procure certain lumen wuen needed legislation In this state Hiate lit ale hot only for tor the tile protection pIote Uon of ui I companies und and their agents hilt but she for rOi tile Inc protection of the Insuring Si I public If It there could have havo been bOl n a IL 3 united purpose If It all conflicting Inter j could have Joined In one effort fOI fo the passage of ot a It law upon the no ne noV neef i ef eMily V for or which nil all were vre agreed tnt tn might have been accomplished hed hedNo No ono one was wa mole mOIl disappointed over the failure of the legislature to accorn push mah something in behalf of ot u a now new t I Insurance code thou than the Insurance do doJ J OUI Our laws lUVIS arc so In lit Inadequate adequate tc that I t feel reel like apologizing for tor them whenever a r copy Is called i for from x the tho state Th ThA has reached the that even without the tho now lallon which we sought without any positive po prohibition In the tat stat lutts ales utes against certain practises the Inns hs come when these Ih so practises must There shall Rhall no longer he bo writ I II w tIme tho state any advisory or ot special service con eon I tri trans mid e 0 nil lid no selling Felling or giving or It stocks Iod of lit tiny lillY agency nency company or once company as iS nn an Inducement 1 f rl tho h sale BRIo of ot lito Insurance nor nol norI I hal any other Inducement bo be of ot J which may be bo devised In the ht of ot a mm class elas and nt Ut the tho I or Q the th ti body of ot policyholders It may like locking the stable door doo tItter niter tho the horse houe has hns hewn been stolen to taku IT J step i now Ww for a n number ot of com corn have entered here after cowing the tho state with their agents tho the field had ha been een thoroughly 1 folded their th lr tents like lie tha Ih Arabs Arabi antI ind silently stole away to oth tr II r and amuil nel greener fields 0 ru IS FIXED l tew i ew ago nn an application win Will to 10 the Iho for the tho of or another of those l to toI Ui tl I i t tte tie which application wan mot met vitti Uh trie tn following statement You Vou ou ale uro I that this department will vili not imi to tide this state for tor the year 1308 any r life insurance company that Is III In through advisory II special con conor 1 tr or r stock Mock of any W or yr any lilt other Inducement which t i u 10 rebating or discrimination lIs fA in tIO of or any nil class chus of ot ini It ri cannot Ue lIe in Iii uy un linto without gross urOIl nil d without a 11 of ot profit st it B nt no as to bo lie wholly mn O i realization and when hemm tho the un 1111 h pp it ut of such II tIo un on is I brought to face with sith tho the thorun run lh h II i jas the tue choice of ot either 1 ins jl hIs luu disappointment and going I ii it 11 his II ia or UI of ot sacrificing rIi MIi hf i lUll paid palt lapsing Ills hll poll ry I either case calle ho hI IB is on end ret and ntH hn has become nn an enemy fluent tn to If of ot any kind OWl OUT IN SrI I If I N not lIot enough that un IlI 0 iy shoal ii cara for fOl or dermi 1 n l It milto bo ho made to lo toM tor lowall 1 wall or r B go IU of or o business M I i iii I i I lieu i nr 1 who has hns done such luch lucha II V lei ii nn lu itt the tho valise ganso o or safe safo I a ld Kune hal hao published HO H il from a book of ot K f to I ut of future l gut get In this states Time rho lal 1 tho stok ami Iho timo of or tim tho S nIan liany t n itt i ages Re twin to tu on flit hl II on Oil 1 20 ot of otI ii n I I stoc I on NN e or cost comil pt of 1 lUh i fn liw I td i I hi I at mit Company f Ih if end On of if period r M O IJO D 0 MM t n ao o C I 0 i Does Docs that sound honest EVIL or OF III With WHit this kind of work going g on around you on by agents receiving huge ge gec commissions c such as ns a it I conservative company cannot afford offord to pay lay pa do you OU wonder that you are outstripped ped In tho the thorace therace race raco for tor business Ono One of ot the Insurance alice ance Journals reports report that a II single agent for one onu of these companies In Salt Lake City CIl wrote In the tho month of September 1907 How flow litany miny of or you ou would bo ho triad to write that amount In iii a n year ly B these methods the tho entire business of ot lire life Insurance is s injured the tho confidence of ot the tho general public Is destroyed ed end countless wid widows Widow ow tina timid orphans who would otherwise have havo boon bron benefited through Its benc bene influence will suffer stiffer untold privation and ri nd misery It places place tho the hon honest hones est es Insurance agent representing in honest company and presenting to tIme tho public a II reasonable plan of ot Insurance arue with a reasonable premium and a rea reasonable reasonable promise or of results nt at a 11 great real disadvantage it Is Js high time Ihne to 10 call colla a ahalt ahalt halt hall haltIn hallIn In Imi section 13 Revised Statutes we wo find sufficient clent law to answer the tho pur purpose purpose purpose pose and If It any am company objects let lct it appeal to the tho courts for These schemes s are not only nith hurtful to lo the Insuring public and to the agent but bul they ale tiro also Injurious t o tho tIme com coin company compan pany pan which writes temi them LICENSE HENI REFUSED FUSED TIme Tho l following letter leUer has lias been teen sent to all nil companies engaged In this litis kind of or business ls I The Insurance department of ot this state slate has hOA reached hed a n point In Investigating ing imig the mutter m Ue of ot advisory board con COIt contracts contracts tracts special income contracts and amI stock agency schemes so that It II with will require from remit all Insurance companies who mako make application for fol our license for tho th yea 1808 a certificate signed by bytho bytho bythe tho the president anti and secretary of the company compan to tho the effect that the tho com company pany pledges Itself to too retrain refrain from writing ony advisory advIsor board contracts special Income contracts or O to In nn any stock schemes of any an character or op offer nn other special Inducement In im the sale ot of life lite Insurance In this state and unit no company which does docs not nol furnish such a n certificate will have havu Its Ita license renewed for the year 1908 1808 After such license has hila been granted If It It shall be bo discovered that tho the com coin company pany Pail Has lins engaged In that kind of ot bURI buni such fact when established will willbo bo he sufficient ground for the tho cancelling of orthe the otlie license to do within the tho state ASSISTANCE IS We are unalterably opposed to the tho admission of ot any an now new company that thaI Is even oven suspected of otan any such nuch devices against our people In short the In Insurance department assures the Life Underwriters association that wo we are 1110 In this light fight to loI a it finish and wo we ask of ot you all the Information you i uan can furnish to assist In compelling the re to result suit sult devoutly so o to be bo wished MATTER OF VALUATIONS A subject which has hils been under unde careful consideration b by the Insurance departments department of ot all nil the states slates has been the subject of ot valuations It Is IA well understood that thoro thero has hns been a n great in tho the market price of all stocks and bonds bonda of the character which are ue held for or Investment by 11 In Insurance companies during tho the last 12 I months and If It the tho market markol quotations at the tho close of orb business Doe Doc D c 31 11 1907 should be bo taken as the of alun valuation Ion tion for these se securities many compo compa companies flies nies would close tho the year nr with Im tm Impaired paired capital lJ I Notwithstanding tho Fact that these thelio securities have havo shrunk shrunken en In market price PIleo they tho are arc still sUIl pro producing dueing the same sante dividends that they the were 0 a you yom ceo nm and nOnd al alJ agree that thaI they tho arc aro worth far tar more moore than f fed ed cd prices How Hov to reach rench a 11 basis of ot valuation which would be fair tall and Just junt junto ju t to 10 o all companies has lias been the problem On the th and of or December a 11 conference of Insurance commissioners was held it nl Louisville Ky ICy K the tho matter mis discussed fully full ull and an a a result of the tho deliberations of that con eon ference rr nc time tho following resolutions wore were adopted m SO OF AGREEMENT I If Ittis Is tIme the sense of or this meeting of Insurance commissioners that thaI state departments In determining the valuation atlon of ot securities Included In the fin financial financIal ancial statements stat ments of ot Insurance cor corporations may Ins ascertain tho time real mar martet markel market tet ket value by taking tho the mean of mar maret 1111 hot kel et prices priceR on the Iho first day of or each ell month mind and time the day dllY of ot December In Inthe he the year 1907 and Inel computing ho time average value alue for the tho year by di dividing dIviding viding Wing the tho aggregate of said amounts b by jy 13 provided that In any particular case cale where exceptional facts warrant departure from this rule It shall not apply That n a committee of seven coven commissioners In addition to tim tho chairman be bo appointed at once as US lS a n 0 committee on Oh valuation of ot securities for tOI or 1907 and that said committee commilee shall 10 ho jo empowered d to employ om ploy expert ap appraisers n appraisers to mako up a I list of ot such se so securities 6 held by Insurance In companies as ns they thoy tho may deem necessary with wih statement of o the tho market value of ot each and nd report tho time name inline lame to 10 such Huch commis commissioners as ns mummy may 13 request It as OS iK early as 11 otter after oter Jan 1 1908 1905 It I leema to In me e to 10 bo be bl only fair fai nit to take 1110 a at Stock Mock which In paying time tha same dividend 11 In II 1907 ni It paid In 1006 and accept as aH Its ls value nilo tot for time the purpose of ot making nn Slit annual statement tho the aver I IRP tm price of o time tho stock during the tho soy sev several ICV eral crl months month of ot time year amid III this thin de do department has hll Issued IHMle a 11 circular letter which has imas been sent Bell to li nil if 11 companies n I ll nl I notifying them the of o tho timo ac no action ion tion of o limo tho quoting limo tho rem reH reI mimi and expressing Its opinion hut flint this thiN would bo ho 11 a it fair air amid nud Just so ullon of ot tho Ohm valuation nt at atthe ho the tame nl time mulling making known him I wll wil 11 to such valuations na are aro Ire placed upon time tha by b Its ls homo lomo department In conclusion Colonel Colonl wild 1111 I I 0 am tim happy lo to II say that all ull tho the InBur anco armee companies organized d In iii 11 this state mate mateiro I iro lr In Mich Buch financial condition us mis 18 to tobo tole tobe bo be le able 1110 In to Mow how a 1 splendid surplus limiting their nt Ut tho 10 at 01 tue tho ond oua of ot December lf it I limit permitted 1 I have beet jeon glud to go 10 Into time tho question of or Insurance In tl nce which under undu our pur ur mw aw Is Jef entirely without super simper supervision vision but 1111 In lit time tho limit of or nn an In after dinner ch It I Is to 10 die dis discuss al cuss elli CI problem which Is II vexing the ho I J the Ih uld ail of ut every eury member of ot association In lit Inho 11 time tho ho which IK hi II Just beginning to o Lists thU th state something besides ho limo of ot nil maui mince I f ur urge n your committee nn on 01 to 10 give elvo GIo and tun HUl to lo tin the matter mattor mut r of ur nn an 1 In Imi COdO colo in tO ho 10 to tn tho Iho next legislature for or which may IY bo be le used as IS n I m model mind An this will wi cooperate you ou In lit livery vcr erO t you 01 inaugurate 0 to advance the th of ot safe con conservative I lifo Insurance Numbered lo anoll the tho guests present pl i Saturday evening ev nini were vera I Colonel and Mr Mrs B It Squires Mr Mrs V N Williams Dr and Mrs Mis W V E Dr and Mrs T TS 8 S Jf Sharp Dr Mm George o crIO L ii l Smart Dr and Mrs rs E hi 1 S 8 Wright Di a U Dr and aud Mrs Rots Hot Anderson Mr and Mrs John D Sperm Spen cot cor cr Mr and Alfred li Ii u Karrell Mr MI arid Mrs Edward P the Misses JUssel Evans Mr Jl and Mrs Mra Will VII O 0 I Farrell Fanell Farrol Mr anti Mrs W V A William I Mr lr Albert Miss Mis M Id 1 E EDrees EDrees Drees George H II Mr Ir ant and Mrs |
