Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1903-09-01

comes as a relief. 1t had been sup
posed by many here that the origin OIL
the troubles of the two companies came
from the legitimate old line cOmpan-
les Now it is revealed that these fei-
lows uuarreled among themselves AMI
got to fighting each other so hard tnat
they started the examinations which
brought on the crisis which has ended
gold bond investment business in Iowa
for all time whether by Iowa compan-
les or outsiders. A strong point made
by the managers of the companies was
that the fight being made upon them
was merely that OF Jealous rivals who
they had set. This defense is now
exposed
In r. to the value OF the stock
Of the {. defunct company the same
insure : ournal had the following 20
say : onal:
ct mpany at once began piling
up = and paying handsome div'-
den. 4, a its heydey time it was said
tha 8 stock could not be purchased
for e a share. 1t entered several
stf e. nd had open sesame to the In
ST = department Of Iowa. SO 1t re-
Ct = just about what 1t desired
In regard to the criticism which for
the first few years of its existence was
thrust upon the company the same
journal said:
"It seemed to thrive on this criticism
The prominent men on the board of di-
rectors were pointed to as the bulwarls
OF the company"
1t appears that among the managers,
some of whom We're getting big salar-
les for their work or making enormous
profits on commissions annually the
news Of the sale was not welcome.
The western Underwater said:
'The reinsurance deal came as a sur
prise especially SO to its large man
ayers who were not cognizant that any
transaction was on foot. Most Of them
had put considerable money into their
agencies and were building up profit
consulted as to the reinsurance pro-
ceedings and hence the news came as
body blow"
Another matter Of news contained IN
the same article is an assertion that
the committee Of the directors that
went to st. Paul after things had got
too warm was 'closeted for several
hours with Commissioner Dearth both
at his Office and residence, endeavor-
ing to get him committed to favorably
answering some questions to which he
was to reply in writing" and that this
was regarded by several as a very un-
diplomatic proceeding" 1t is then
stated that -'the committee then went
to Chicago to interview Frank b.
Noyes, publisher Of the Record Herald.
to have that paper silenced, but little
encouragement was given" The same
paper declares in regard to the Cath
cart suit that 1t was instfgated by
rivals who paid the expenses but that
it was very harmful. The Cathcart
suit, however, was settled by cash
payment back of the money.
It is also stated that the Northwest
ern National, which bought the con-
tracts ef tpe Northwestern Life and
Savings. has bond contract similar
to the one of the Iowa company which
1t will continue to use in the transfer
OF the agency force who are accustomed
to that contract" The company will
not be allowed to do the same kind OF
business in Iowa, however, as the in
surance department has now cleared
the state of all that class of business
and will keep 1t clear under the pres
ent administration. The Northwest
ern National has had previous expert
ence absorbing Iowa concerns, as 1t is
the company that swallowed the North
ern Life of Marshalltown, the Odd
Fellows Annuity Of Des Moines, the
Federal Of Davenport, and the Equit-
!, hlo I Afa Of MaferlnA