The times. [volume] (Richmond, Va.) 1890-1903, 1900-02-21
FoKrY-sEcoND'ANNuA KErosr

:
Mutual Life Insurance Company.
OF Milwaukee. Wis.
The forty-second annual report of the i
company covers the business Of the year
1892 the largest, with one exception, in
its history.
In view of the regent unfavorable criti-*
cisms by life-insurance managers, as
we'll as by both the insurance and secu-+
s lar press, Of thigh pressure" business and
its attendant, evils. bonuses to agents.
and "rebati ting it may not be inopp0r-7
tune to set clearly; before you the posi-
ton OF the Northwestern, which, happily
has had no part in such business. This
company yaluing quality above guam
tity, has preferred to secure its bust
ness under salutary restrictions and l1ml-s
tations rather than to write mrch
larger business at the possible sacrifice
OF those valuable points which have
made it ..pre- eminently the policy-hold-E
crs company" In common with some
other companies the Northwestern has
steadily refrained from joining in the
excessive strife for new business, which
has been succinctly characterized by the
president OF leading eastern lne-tnsu-
rance company as follows: 1T has come
to pass that volume, without reference TO
quality, has been heralded as II 1t We're,
taken by itself, an evidence of success
The Northwestern does not pay any sala-
ries or bonuses to-, nor expenses OF,
agents, all compensation being on
straight commission basis, and the cost
of its new business has been very low IN
comparison with most companies, and
far below the average of all COMPANIES.
NO RDBATING PERMITTED.
No discrimination is permitted or prac-
he Northwestern in writing
business Long since the company adopt
ed a rigid rule against rebating, and this
was later followed by a rule forbldtlnS
the payment of commissions directly or
Indirectly to any one not duly appoint
ed and authorized agent of this company.
The object of the last rule was to 90
away with what is Familiarity known as
''brokerag business. and which is the
cause of much of the discrimination re-
puted to exist in some companies. These
rules have been, and will continue to be.
strictly enforced.
The agents of the Northwestern are an
Intelligent honorable body Of men. and
We believe are honestly and loyalty living
up to the rules of the company.
SUPERIOR QUANTITY OF IT'S BUSI-
MESS.
Practical evidence of the quality of the
business, and of the confidence of the
policy-holders in the management of any
company, is to be found in the proper
ton of its business which remains in
froce from year to year. a comparison
with all companies shows that the stay
Ing quality" of the Northwesttrn's bust
ness is remarkable. Including the figures
for the Year 1899, the record \of the North
western is as follows: Insurance written
and paid for since organization, S947 127 ,SS,33,
of which S437 ,125. or 52.54 per cent, was
IN force on January l. 1900
The superior quality of the business Of
the Northwestern is further shown by
the exceedingly low mortality of the
company, which, in 1899, was only G96
per cent. of the mean amount of in
surance in force. The average rate of
all companies for 1899 cannot now be as
certained, but in 1895, according to the
Insurance Yearbook, it was 1.27 Had
the death rate of the Northwestern in
1899 been as high as the average Q.oO
OF all companies in 1883, its death losses
would have been nearly one and one
half millions dollars larger than they
were. The experience of the North
western in this respect in 1899 was not
exceptional, and was due to the restricted
territory from which business IS accept
ed. as well as to the great care with
which individual risks are selected.
THE NET RESULTS OF THE YEARS
WORK =
were as follows:
Increase in assets .............s11, 200, OS5
Increase in income .............. 2o97, 736
Increase in payments to policy
holders ], .S92
Increase in insurance in force. 80 S93,3S
5,25S loans, amounting to $2.SO2 105. were
made to, and 4,O3S loans, amounting to
s2,224,497, We're repaid by policy-holders
during the year, leaving 14,29S of such
loans, amounting to s6,5S0,965 in force at
the close of the year.
The income from premiums,
interest, &C., during the year
amounted to ................. .S2f, ,143 IS
The total disbursements We're, 13,2S9,c06 70
An excess of income over
disbursements of .........S11, 316,136 CT
The payments to policy-holders and
their representatives during the year
We're as follows:
Death losses ..................S4,11 els AZ
Endowments, dividends. &c.. 4.317, $50 81
A total Of .029, Al 81
which was an average Of over thirty
thousand dollars (s3O.O9s.2D for each
workng-da of the year.
RESULTS FOR FORTY-ONE YEARS.
Since the company COM
menced business it has paid
to representatives of de-
ceased policy holders for
death losses .................S so. gu $50 So
And to living polcy-holders
for dividends, matured en-
dowments, surrendered poll
cies, &C.. ..................... 56,6s3, e15 &C
Total payment to policy
holders OBSERVATION-DISCLOSURES 07, 3o5, SIC 81
Add present assets ............ 126, SIPS 45
10 n0iiov-hnI6-
ers and held for them..... .s23333, s52. 34 66
Total premiums received, 209, 752, 220 So
Excess of assets and pay
ments to policy-holders over
premium receipts ...........S "a, go, 6S1 Is
During the forty-one years covered by
the operations Of the company the inter
est earnings on its invested assets have
been sufficient to pay all the expenses of
conducting the buiness and leave mar
gin of profit to the policy-holders of
more than $24, 10000.
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