The Hope pioneer. [volume] (Hope, N.D.) 1882-1964, 1903-03-12
WRITER'S LETTER.
eoNnINuED FROM PAGE /.

lnteed to the po1icyholders. No
company issuesa t~en-Year
endowment policy SO favorable
70 the policyasolders. This fact
has aroused the jealousy and
antagonism of the managers of
the other companies.
st was known to the North
Life and Savings Com-I
pany that Commissioner Dcarthl
was in neutrality-suspicious. with
rival agents in5this city. Copies
of some Of the correspondence
are now in the possession Of this
company. Rumors were in the
air that an arrangement had
been made bycertain rival agen-
cies for this examination several
months in advance of the ex-
animation OF the company, and
correspondence which is in the
possession Of the company tend
to confirm these rumors.
THE commissioner attempts
to make it appear that the COM
pany has madeexorbitant profits.
If the company's business had
been but one-half of what it was
during the. past year, it would
have been larger than more than
one-half of the life companies do
ing business in the country, and
yet the company would not have
made, any profits for its stock
holders. Under its limited ex-
pense loading plan, it must be
remembered that this company
cannot go into its policyholders'
surplus for expenses.
"The officials of The company
state emphatically that there has
been no mismanagement; that
the policyholders' funds have
been and always will be preserv-
ed intact, and that the integrity
of each and every contract will
be preserved, both in letter and
in spirit.
"Ry referring to the report OF
Mr., Dearth's actuary it will be
readily seen that allthe expenses
of the company since its organi.
cation have been safely within
the expense provisions of the
policy contract; that the com.
panY is solvent beyond any per.
adventure ofsdoubt.. and that al.
its assets are gilt edged, being
invested in the best class ofIowa
farm mortgages, and loads on its
own policies"
The following letter is sent out
by Secretary CroWell, of the
Northwestern, in reply to 9
pollcyholders inquiry: !.
February 70, 1908.
Roberto McGill, ST. Paul, MINI,
Dear Strive have your kind
favor of the 18th aud have care
fully noted what you say, and al
so the clipping you furnish us.
We simply have this to say: That
by the terms Of our policy con
tract, which is very clear and
distinct, this company has a spe-
cific expense loading. It does
not matter how much or how lit
tie the company makes out
of this part OF the premium, as
it does not affect the policyhold-
ers' account one hairs breadth.
This expense loading consists Of
the first annual premium and
9per cent. Of each future prem
ium, out Of which the company
guarantees to pay every death
loss and every expense during
the ten-Year period. So that 81
per cent. Of nine premiums is
guaranteed by the terms Of this
contract to be placed to the cred.
it of the policYllolder. This, il
you will read our policy careful
ly, you will notice, at 4per cent.
interest, exactly makes the face
of the contract at the end Of ten
years. Added to this, the com.
pany forms a savingsfund made
up from the four distinctsources
of profit set out in the policy con.
tract. This policy has adyan'
tages over every other which Eor
ever saw. The first is the detin'
iteness Of the contract. It is thu
only company which has an alb
solutely limited expense loading
You will notice that the reserve
fund made up of the nine prem
iums stated, cannot be disturbed
for anything. The compan,
must bear all burdens of taxa
ito /, losses on investments, al
death losses, aud every loss O
expense Of every class and na
ture. The policyholders' sur
plus fund,which1s made up from
the four distinct sources Of pro
fit set out in the policy contract
cannot be used for any othe
purpose. The sources have us
ually been accumulated through
long periods Of years and bull