Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1860-01-20

INSURANCE COMPANIES AND THRIR
PRovln.-In our paper Of yesterday We pub
ished an article endeavoring to call the atten-
ton Of our citizens to the importance of organ.
izing home compan:es to do our insurance busi-
ness We said in that article that there was
no business in the world that man could in.
vest his money in that paid as large profit a.
10 the stock of we'll conducted insurance
company. On the lst Of January the st. Jo-
seph (Mo.) Insurance Company requested their
patrons to appoint committee to investigate
their affaire and make . report. A committee
of citizens were appointed. who. after a care.
ful in nvestigation, made report, Of which the
following is an extract:
TIE st. Joseph Insurance Company" com.
menced business in the month Of June, 1853.
with Capital Stock subscribed Of $75, 200 90,
upon which . payment Of ten per cent has
been made We would also state that the
profits of the Company for the period of about
six years and half during which they have
been in business amounts to $79.577. 90; and
that the dividends upon the amount paid in
would be l62 per cent. per annum.
The company have also paid TO the custom
ers Of the office an average return premium
each year Of IS per cent.
In their report the committee further said
that the assets Of the company had been
placed considerably below their actual cost
value.
One hundred a"d sirty sro per cent. per an.
mum. after returning twenty.d five per cent. TO
customers very remarkable exhibit. but 1t
is vouchsd for by . committee of the leading
business men Of st. Joseph.
If q St. Joseph company can do . business
affordlug such profit - the above statement
demonstrates it doa,, there is certainly no rea-
son Why Davenport company cannot do the
tame. The st. Joseph company is judiciously
managed. and - . consequence is q source Of
great profit to Is stockholders. We have just
the kind of men in our city to safely conduct
an insurance company. and under their charge
the stock Of such company would pay very
large dividends. Why not start . project Of
the above charseterf All it requires is some
man Of infr ence to take hold Of the matter,
and there would be no lack Of persons anxious
and willing to take the stock. - every man
must be satisfied that he cannot invest his
money to any better advantage. 1t is safe to
cay that upwards Of one hsndted thousand dol.
lars 10 annually drained from this city BY East.
ern insurance companies. We Get it at the
above sun. although We are informed by soms
Of the agents in Davenport that the sum 10
probably much more. A pretty snug sum to
be drawn from . community like ours. A
great deal Of good can be done With $lOO. 600.
il it be constantly circulating, - it would be.
II our insurance business vas done by domes.
tie ceupsniea The old Hawkeye was dis
solved beeauss shs had no one connected with
her who would take the neceesary trouble to
assist in getting up . reputation. Az It vas.
the Hsvksye paid dividends Of over 30 per
cent, and had the business been properly con.
Quoted the dividends would have been much
larger. Let some prominent citizen take the
initial sep in this matter and it will be sure TO
20 ahead.