St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-05-20
President Of the Chi
cagO 81 Eastern Hi
noiS Railroad = Y
presence in the West
I'll. FL.
Porter,

cdSO " Eastern ILL
Porter, nOiS Railroad - M V
presence in the West
at this time is purely accidental, and
has no connection whatever with any
proceedings growing out of the litiga-
ton over the affairs of the Northwestern
Car company, of which Senator SABIN
is the acknowledged head. The matter
has been settled for some time as far as
am concerned, and | do not propose to
take any further steps in it. While at
the club i'll Chicago, few days ago, a
party of gentlemen were discussing a
probable trip to the iron region of Lake
Superior, and it did not take me long to
place my private car at their
disposal, and finally I was pre-
vailed upon to join the company.
That is the explanation of my presence
in st. Paul at this time, and | am now
homeward bound. Included in our
party were number of English capt.
talists who wanted to see the country
thoroughly, land we extended our trip to
Colorado and gave them an insight into
the silver mining districts of that state.
A more enthusiastic group of men |
never saw, and when they reached the
iron country contiguous to Lake Su-
periOr, their expressions of admiration
could not be restrained. Only good
will result from such excursions as
these, and especially as one of the men,
berS of the party was one of the largest
mine owners and manufacturers of
England.
w. G. Strick- Insurance Expert
There never was a
land, time that the subject of
insurance possessed a
n
does. A majority of the leading COM
panies closed last year with bad loss
balance. resulting in the withdrawal of
a number of them. Some of these were
milliOnaireS whose experience had been
profitable, but the stockholders saw only
future loss and so wound up while they
could.
Last year st. Paul was one of the few
profitable cities, and we had begun to
look for continued term of prosperity,
but 1888 has made bad mark in the
city's record and added quite figure to
the general terrible losses of the past
four months. Take the wholesale dis
trict here for instance; the figures
Isl, 100000 in losses are absolutely cor
rect, as also the fact that only three
years of the past ten show any profits in
st. Paul. Undoubtedly petroleum and
its products cause many fires, and gen
orally disastrous ones, but insurance
companies must keep on paying such
losses until they can muzzle new dis
coverieS by appliances for their control.
These views are a fair reflex of the SEN
timents of insurance men generally
throughout the United States, and since
1888 began numerous conferences have
been held for the purpose of taking
action looking to reduction of risks, as
far as possible. The principal complaint
made against st. Paul is the defective
water supply, and the only remedy
seems to be in an increased size of the
mains already in operation.
-
Henry P. President First Ma
tional Bank-Basing
Upham, my remarks upon
thirty-one years. ex-
perience, l have not always found
that abstemious men always make
successful business men. For the
past twenty-five years that l have
been connected with the bank of
which | am presidentsI have had ample
opportunity to study character as re-
vealed to ME by daily intercourse with
representative men of our community,
and have found that some of those
who appeared to enjoy life most made
the most capable and efficient financiers.
Now do not want to set myself up as
an oracle. for [ might bring down upon
my head some of the maledictions
directed against the Helots of Sparta
when they undertook to give advice to
the people of that country. For a man
to be successful in business should say
that the fundamental principle would
be strict integrity in all his dealings,
coupled with a determination to devote
his energies to the accomplishment of
the object that he started out to make
his mark with. Scores of business men
in st. Paul to-day owe their prosperity
to the fact that they considered their
word their bond. and by their actions
established credit so that when they
needed assistance they had only to ask
for it to obtain all that they needed.