The Wahpeton times. [volume] (Wahpeton, Richland County, Dakota [N.D.]) 1879-1919, 1885-12-24
Northwestern Insurance Co.

Northwestern Insurance Co.
For several months the project of
instituting at Wahpeton the head
quarters or the nucleus for home
insurance company has been talked,
but nothing of public notice was
done at the matter until Chas. E.
Wolfe, Esq, began rattling off on
his type writer articles of lncorpor.
alton, &C., for proposed North
western Mutual Insurance Company,
of Wahpeton, Dakota, with view
to do general insurance business,
viz: commercial, hail, tornado, and
lightning, covering the whole
ground, excepting life insurance.
We believe the gentlemen compos.
ing the inaugural management or
board of directors, are Rev. H. w.
Troy, John N. Deans, Esq, Willis
A. White, Esq, Judge II. i. Myers,
N. A. Page and Chas. L. Wolfe;
and we will probably publish the ar
ticles of incorporation next week.
The company is based on an ap-
proved mutual plan, differing from
others, perhaps, in the fact that it
provides for a contingent fund so
that the members may not be called
upon at any time in the future to
pay a heavy loss by direct taxation,
but have something on hand to
meet an emergency thus we
believe it is a purely mutual
benefit association, with plans
honestly laid to do insurance at the
lowest possible rates. Every man
insuring in the enterprise is vot-
ing member and has a voice in it's
election Of officers and deliberations.
There is no reason why the COM
pany should not do a good business
from the commencement. The ma
jority of men instituting it are ex-
perienced in the insurance business,
having been in its various depart
ments, respectively, for years. and
have lived in the northwest long
enough to know what is wanted
here.
There is a wide spread feeling i'll
over the northwest that foreign
companies. in the matter of hail, es.
pecially, do not do the right thing;
and the grain crop is very impor.
tant thing in this golden northwest.
There are instances where county
organizations have carried their
hail insurance at less than half the
foreign companies charge, paying
every cent Of loss. But still a
sweeping hail storm or succession
of them might render a county Or
ganization a good deal of a hard
ship if not wipe it out entirely,
while the proposed company will do
all sorts Of insurance and spread
over such an area that it will be i'm.
possible to destroy it. We would
confidently urge upon Wahpeton' s
citizens, the citizens of the county
generally, and all others to look in
to the proposed new insurance COM
pany and it's plans and see if it is not
just precisely what has been needed
at Wahpeton and in this section of
country for the past three or four
years. The gentlemen organizing
will comply with every feature of
the law bearing on the subject OF
insurance companies and their or.
ganization, going into business
with clear idea Of saving money
to and beneiitting every man join.
ing the association and expendine
every cent in it's execution, in what
ever direction used, in the communi.
ty supporting it, instead of ship
ping this money out Of the country
to enrich strong and careless corpor
ations in the east. The west wants
eastern capital, but as fast as th'
west is able to protect its own bes
] interests, let it be done.