Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-02-23
THE FoRTY-sEconD
ANNUAL REPORT
To the Members of the Northwest
ern Mutual Life insurance Com
pany, of milwaukee,, Wis,


pany, of milwaukee,, Wis,
The forty-second annual report of the
company covers the business of the
year 1889, the largest, with one excep-
ton, In its history.
In view of the recent unfnyorable
criticisms by life insurance managers,
as we'll as by both the Insurance and
secular press. of high pressure" bust
ness ana Its attendant evils, "bonusses
10 agents, and Relating" 1t may not
be fnopportune to set clearly before you
the position of the Northwestern. which.
happily, has not had no part in such
business. This company, valuing quail
lty above quantity, has preferred to Sc
cure It's business under salutary restric-
',.,i, ana mutations rather than to
write much larger business at the
possible sacrifice of those valuable
points which have made it '.preemi-
nently the policy holders COMPANY
IN common with some other companies.
INC Northwestern has steadily refrain
eeo from Joining in the excessive strife
Tor new business. which has been sue
emily characterized by the president of
Il IeaulnS Eastern insurance COMPANY
as follows: IT HAS COME TO PASS
IHAT vOLUN1E, WITHOUT REFER
ENCE TO QUALITY, HAS BEEN
HERALDIID AS If IT WE'RE. ia
KEN BY ITSELF. AN EVIDENCE or
SUCCESS" The Northwestern does
not pay any salaries or bonuses 10
nor expenses of agents, all compensa-
ton pelng ON a straight commission
OASIS, ana the cost of its new business
has been very low in comparison with
most companies, and far below the
average of all companies.
NO RELATING PERMITTED.
NO discrimination is permitted or
ing business. Long since the company
adopted rigid rule against rebating.
and this was later followed by a rule
forbidding the payment OF commissions
directly or indirectly to any one not a
duiy appointed and authorized agent
OF this company. The object of the last
rule was to do away with what is fa-
miiiarty known as brokerage bust
ness and which is the cause of much
OF the discrimination rcputed 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 QUALITY OF ITS BUSI-
NESS.
Practical evidence OF the quality of
the business, and of the confidence of
the policy-holders in tho management
or any company, is TO be found in the
proportion OF its business which re-
mains in force from year to year. A
comparison with all the companies
shows that the staying quality" of the
Northwestern's business is remarkable
Including the figures for the year 1899,
the record of the Northwestern is as
follows: Insurance written and paid
for since organization, s947. 127 S3S, Of
which S49T 606, 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 1892 was only 09G
per cent. OF the mean amount OF insur-
ance in force. The average rate of all
companies for 1899 cannot be ascertain
ed. but In 1898. according to the Insur-
arce Year Book, 1t was 1.27. Had the
death rate of the Northwestern in 1899
been as high as the average G2O of all
companies in 1885, 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 re-
stricted territory from which business
is accepted as we'll as to the great care
with which individual risks are select
ed.
THE NET RESULTS OF THE YEARS
WORK
were as follows:
Increase in assets ........... S11 200, 0S5
lHCEcdSe III income 2,29I,I36
Increase in payments to policy
holders ...... .......... 1,743, 392
Increase in insurance in force. &c, 500, 3S7
5.25S loans. amounting to S2.S02, 105,
were made to, and 403S loans amount
ing 10 $2224, 497, were repaid by policy
holders during the year. leaving 14,29S
of such loans, amounting to $6,5S0, 965 in
force at the close of the year.
The income from premiums,
interest, &C.. during the
year amounted to So. Cos, 143 AZ
The Total disbursements
were ........... .......... 1S.2S9,0o6 10
An excess of income