Prescott journal. [volume] (Prescott, Wis.) 1861-1871, 1867-06-01
northeastern accident Insurance Co.


This company was chartered by the
Legislature and located at Madison
about one year ago. is was started by
the leading business and financial men
at the state capital. The company
commenced business in April, 1866, aud
It's Ilrst annual statement ON the sue
ceedlng January, shows not only the
payment OF It's losses, and the eXtraor-
binary expenses incident to the outfit,
without taking dollar of its capital,
but a surplus, indicating the complete
success of the company. Recently a
number of the leading capitalists of
Milwaukee have become stockholders,
and the board of directors obtained
authority from the legislature to remove
the central Office to this city. The
success mt Madison had been greater
than was ever anticipated, yet it Is
believed that Milwaukee is the best
point from which t. conduct the affairs
of a large institution of this kind
Hence the removal has been made, and
hereafter Milwaukee will count the
Northwestern Accident Insurance Co.
as of her own. The office is at No. 10
Newhall House, Main street.
The officers and directors recently
elected are us follows:
II. L. PALMER. President.
THOS. 5. ALLEN, Fice President
AUG. GAYLORD, Secretary
DAVID FERGUSON, Treasurer.
A. G. DARWIN. Gen. Agent
Directors.
". F. Davidson, Alex Mitchell.
Laeirs Fairchild, 5. 5, Merrill,
Thad. C. Pound, aug. Gaylord,
W. l.. Smith, james BOnneli.
W. II. Taylor, q. ID. Norris,
+. Layton, IhOs =. Allen,
Sam. u. Hastings VIM V Baker,
j. ". Cary, O. Alexander,
III. J.. Palmer Angus Smith.
The capital of the company is $500, =
900, largely owned by the officers and
directors, and by wealthy men in the
state. The list of stockholders in Mil
waukee is the very best that could be
obtained for anything of the kind Mr.
PALMER, recently elected President, is
"a gentleman whose reputation will add
strength and popularity to the com
pdny.
The wonderful growth of our North
Western Life Insurance Company, has
shown that proper management in the
insurance business will guaranty success
in the west as well as i'll the east. This
new accident company has every pros
pect of the same measure of success
that has been achieved by its name
sake in the Life department.
The principles of accident insur-
ance have only been practiced in
the United States for a few years. In
Great Britain such mode of protection
has been common for many years. in
fact in a thrifty and provident country,
to insure is the rule and not the ex-
ception. We find the benefits of it are
better understood here from day TO
day. In looking over a list of losses
paid by the Northwestern Accident
Company last year, We were most fOrci-
bly, struck with the Importance of this
class of insurance. at no time and in
no place is a man free from the beset-
ting danger of accidents that may dis
able him from labor for longer or
shorter period, or even deprive him OF
life altogether. Among the any ac
cidebts for which weekly cOmpensa
ton was paid while the parties were
disabled were, spraiDed ankle, thrown
from horse, fingers crushed, fall on
the ice, kicked by horse, fall from a
scaflo,d, chips in the eye, mortar fall
ing in the eye, &c, &c, to the end of
the chapter The human frame is vul
nerahle ut every point--nO mother has
dipped IL IN the tabled river. Parties
thus disabled draw the weekly cOmpen-
sation in proportion To the amount in
snred from 50 to S2J per week TO
that large class of people who depend
upon their labor for support, the prin-
ciple of compensation for loss of time
occasioned by accidents. comes home
with peculiar force. Add to this the
protection from violent death and it
becomes an Important branch of assur-
ance.
But we do not intend to write an ar
tlcle upon the principles of insurance,
we simply wish to call attention TO the
coming among us of an institution of
capital and usefulness, and TO welcome
its officers to our city.