Buchanan County bulletin and guardian. (Independence, Iowa) 1866-1869, 1868-12-25
DEScE INSURANCE cow.
rANY.

A INSURANCE. Companies are either
81 great blessings or great curses 10 So
ciety. There is no more benc6ccu,
organization than that which for a
moderate compensation makes good
i the terrible loss which no prophesy
( can foresce and no ordinary caution
guard against On the other hand,
no swindie is more coutemptible and
9 foul than tia, Of the Wildcat organi.
cation which promises, only TO de-
!. ceivs, betraying without conscience
i the confidence Of honest men. Among
, the insurance companies heretofore
existing in this State, a number Of the
latter character have piled their ne-
farious calling, to the great dctri-
nlent Of honest lows organizations,
as well As to the loss Of many conf.
ding citizens. 1t was to protect the
public from this class of organized
swindiers that the insurance laws OF
the last Session Of the General As.
semhly Were passed.
Under the general insurance law
lChap 1897 companies must operate
on the mutual or stock plan, wi,hou,
combining them. On the stock plan,
no company can organize with .
smaller capital than $4,000. twenty
five per cent. o: Which must be actu.
ally paid in. An animal statement,
Of the aFAirs of the company is re-
quirca 10 be fed in the Office OF the
Auditor Of State, and the restrictions
and regulations are Of such charac-
ter as to render it very difficult for
any organization 10 circamven; either
The law or the public.
The cid companies are given until
tie l>t of January coming 10 ieor-
ganizc. Under this law the Ixpn.
pRNbnNcE INSURANCE COMPANY pro.
poses TO reorganize, on the stock
plan, with capital OF one hundred
thousand dollare. Its books are orcn
for subscriptions to stock. Already
fair proportion Of stock has been SUBJ
scribra. 1t is The purpose Of this arii.
Gle In urge the immediate subscrip-
ton of the proposed amount of stock
and 10 suggest some reasons why it
will prove Of advantage TO our town
aud county.
The Independence Insurance Com
pany has been bona .fie insurance
organization; losses having been paid
with conmendable promptiiude. and
its affairs managed with discretion
and honesty. Its officers and diet
ors have always been such citizens rs
the public are accustomed to eonfide
in and respect. both for their business
character and personal honor. II con-
sequently possesses the best posi-
bic basis for reorganization under tie
new Law. 1t possesses name and
reputation which will be of incalcula-
BILE benefit when it shall present lis
advantages to the public under its re-
organization. People naturally dis
trust new and untried organizations.
Itreqaires many years Of perseyer
ing iaithinlness, as in the case Of the
Independence company. for insurance
organizations to secure that confidence
which induces men to take their poll
cies. Let II be fully understood that
the propo led reorganization is simply
Reorganization of the Independ-
cnce company, under the same gen.
ersl auspices, and the leading obstacle
10 success is a. once removed. The
company viii have before it broad
field already wiiitened for the harvest.
. There can be no doubt of the success
OF the enterprise.
What will success bring: VIVA,
lias il brought:
1t will concentrate at home large
amount Of capital which would other
wise be added TO the enormous drain
eastward.
II will make us lie dependent OH
the East and give us more confidence
IN our own ability to guard our own
interests
II will give honorable employment
~ persons In our own midst, thus
di,eisli.ing orr industry and adding
70 the number Of home consumers OF
hema products.
II viii increase The reputation OF
our eiiy abroad and sery. 10 attract
attention TO ii and TO our noble coun.
IS. Emigration li,hcr will thus be
increased and the prosperity Of all
branches ofindustry enhanced.
1t viii serve As q continued adycr-
iiee.ncm of the ENTERPRISE and uul,iic
sl'iti, q Independence. Capital seeks
hre towns, as naturally as water seeks
us sesel Let it 60 forth that Inde-
rendcncc has not energy suficien. 10
re"r-anizc Its insurance company
and blow Of no small weight will
have been struck at its prosperity.
we have thus presented weak
summary Of the advantages which
VIII accrue to our city aud country
ny the successful reorgsaization of
.n's company on the basis proposed.
We DOUBT not our capitalists will
view The mates 10 the same light
ana subscribe promptly the required
amount OF stock We shall feel proud
'o,'eord success III this enterprise,
and confidently expect 10 DO 80. Sue.
cess rs nov the wstchword Of Tn,lepen.
dence. The mill Organization is q sue.
cess re asylum is a success, the school
house !, success and the churches
are success, now let us make the H.