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Show EXPLANATION IS NOW HANDED Commissioner Wants to Know Meaning Mean-ing of Letter Reflecting on Old Line Compaiy. llaviug had circular .-cnt out by .certain frathemal insurance organizations organiza-tions brought to his attention. Insurance Insur-ance Commissioner Wlllard Done has oddressed a leUer to the president of the company in question, with the demands that Inferences in the circular cir-cular Intended to create the Impression Impres-sion that fraternal insurance Is safer than old line, be clearly substantiated In fact or that Ihe company withdraw these letters from circulation. Mr. Dono's letter follows: "There has just been handed to me a folder Issued by your older under date of May 7. l&lu, and I take the liberty of writing to you regarding the o'&ia given on the tenth page of the lolder itself. I note that you make rtnlement that there have been 773 failures of old lino companies In this country' since 1813. Other statements on the same page arc calculated to rive the Impression that fraternal Insurance In-surance Is safer than o'd line insurance. insur-ance. Wants Information. "If all individuals to whom this circular cir-cular goes were well informed regard Jug Insurance, I should I e inclined to pass It by and trust to the good sense nd judgment of the prospective Insurers Insur-ers and present policy-holders, but as tinny people are very porr!y informed as to principles of insurance, I think it not only unfortunate but very objectionable ob-jectionable that any litenuure uf this kind should be issued anil circulated. 1 ask that you furnish to me the names of a goodly number c f these old line companies that you (-ay have failed, together with the circumstances circumstanc-es under which they fa. led, and a clenr statement whether oi not the policy holders were protected by tho legal reserve accumulated by these companies. Also tell mo what you understand to bo the difference 'between 'be-tween the failure of an o'd line company com-pany and the roiiiMiranro of its risks. In this connection kindly inform m as how many of these 77o companies reinsured their risks on rofng out of business. "I wish you would als.i say why It is that an association or order w'ith-oii'. w'ith-oii'. any reserve is safer than an old line conipan with the scientific reserve re-serve required by the laws of all the 6tutes. In this connection please inform in-form me aHo why the imurince laws of all states require the reserve of old line companies, when, according to your statement, It renders the com-i'nies com-i'nies unsafe. "If these questions are n-.( answered to my satisfaction. I shall demand that yui withdraw this circular from vour igeuts in this state on pain of "having "hav-ing your order excluded from dol.m' business in Utah. 1 await vour early reply." |