St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-10-21

the backing and support Of capital: and
this capital must be projected and remuner-
alive, else it will be Withdrawn and invested
in other enterprises. Hence we see the
necessity and importance of maintaining the
dlgniied relation that insurance bears to all
other business transactions.
How then is this relation to be maintained?
The answer is obvious. II is by such meth
DDS of management that its capital is not
only held intact, but remunerative. and this
management must be SO shaped and directed
by experience that adequate remuneration is
secured. 1t is right here, where the duties
aud responsibilities rest upon the local
agent. The safety and integrity of the
insurance capital of the country are placed
i'll the hands of the local agents, to secure to
the com panies they represent such compen-
sation for their policies as will enable the
companies to pay all their obligations and a
fair dividend on their capital stock.
Experience has demonstrated that compe-
tition has so reduced this compensation that
combinations and mutual corporations have
become necessary 10 preserve and hold the
insurance capital of this country.
Hence local boards have become neces-
SHY. and it is for the interest and welfare of
every local agent within the hearing of my
voice to stand firm in sustaining your local
board-and this can only be done by manly
sense of honor With each one of you in
holding sacred mutual obligations.
In no other way can your organization
have strength and purpose that will COM
mand the respect of the business men Of st.
Paul.
There has been time in the history of un-
derwriting in st. Paul when the st. Paul
Board OF Underwriters had a reputation of
good work second to none III the United
States. 1t was strong because its members
acted in good faith TO each other. 1t had the
respect of every worthy business man on our
streets. 1t WIS stronger than the national
board, for it retained It's unity and purpose
when that structure of Inconsistencies
crumbled to the around. Gentlemen, If you
only have the will, and a determination to
act i'll good faith-loyal to each other-you
can have board like unto the past-harmon-
ious III your action. and profit 10 yourselves
and your companies.
Minor Toasts.
A. 81. Griffith. special agent of the
Home Insurance company. was en-
trusted to the toast of 1.-The Special
Agent and His Relations to the Local
Agent"
John Rogers received cordial re-
ception on rising to give the toast of
1.-The Local Agent" He enlarged upon
the great aim Of that banquet. 1t was
an occasion when they could see the
bright side of the characters of those
whom they met in the hurly-burly of
every day business life.
ID. F. Vail, special agent of the Hart
fort Insurance company, gave 'The
Local Agent and Ills Relations to the
Companies and the Insurance Busl-
ness" The insurance company is as
dependent upon the local agent as a
contractor is dependent upon the me-
chanics for the symetrical character
and stability of a building. Upon the
character of the local agent depends the
character of the business of the insur-
ance company.
Hon. Albert Scheffer, president of the
ST. Paul Insurance company, spoke
upon 1.-The Present Occasion" He was
received with hearty applause. Mr..
Schetfer made happy, humorous
speech, throwing the auditors into re-
peated roars of laughter. With regard
to "the present OCCASION" he said the
more they had of them the better.
Judge Potter. of the E,na. gave the
sentiment: 1.-The st. Paul Board of Un-
derwriters; the Responsibilities and the
Honor" and THE st. Paul Fire De-
partment" was spoken to by E. j. Hold
son.
The gathering broke up after mid
night, every one we'll pleased with the
'first annual banquet"