The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-02-24
COMMISSIONER
DEARTH SAYS
Northwestern Life and Savings Co., OF
Des Moines, Iowa, Is Sound.

T h e C o b e. has no desire to do any
insurance company or it's policy holders
an injustice and takes this opportunity
to rectify any misrepresentation resulting
from any recent article relating to the
Northwestern Life & Saving Company, of
Des Moines, Iowa 1t would appear that
the minor criticisms referred to in the
commissioner report did not in any way
affect the absolutely sound financial con-
ditiOn of the company, nor the interests
of the policy holders . as will be shown
by the, following letters, which would
clearly indicate the company to be in a
very thriving and prosperous condition.
st. Paul. Feb: %, 1903.
To the Editor of The Globe.
City. - -
Dear Sir
In your issue of the 18th there was an
to a criticism on the Northwestern Lin
and Saving Company, of Des Moines,
Iowa. Said article created some apprehen-
sion on the part of the policy holders, and
since investigation and inquiry, 1 believe
your article does the company as well
as the policy holders. great injustice. as
will be shown by the Following letter ad-
dressed by me to the insurance commits
sioner, and his reply thereto Of this date,
which, IL ask you toh give. as prominent a
place in your paper as the article referred
to. -~4-,r ~s4
Yours very truly,
st. Paul Mimi, Feb. u, 1903.
Mr.. Elmer H. Dearth;5 Insurance Com
missioner r-3.--s --.z Gs .-.-
State of Minnesota.
st. Paul, MINI. err
Northwestern Life & Savings Co, Of the
state Of Iowa, l feel at liberty to ask
you as insurance commissioner Of the
state to give me information concerning
said company
Is the company organized under the
laws of the state Of Iowa. and has it
tullyo complied with the. old-line laws Eof
the state of Minnesota?
Are they compelled by their contracts
to operate upon a limited expense loading
ana a1f d to pay an expenses and death losses
Are its officers men of high standing
and reputation?
Is the capital stock of this company
1ulIy PAID up and intact? Have they Sc
curltles on deposit with the state of Iowa
Whlch afford sure protection to policy
On the ten years endowment policy are
the policy holders guaranteed a return
OF all money invested, and what in reason
may it be expected that. this company
will pay as a dividend on these endoW-
ment policies?
Trusting. that you will answer these
questions fully. I am.
Very respectfully yours
Morton BarroWs
State Of Minnesota
Department of Insurance
Elmer H Dearth
Commissioner
St. Paul, Mimi, Feb %, 1903.
Morton Barrows, Esq. -
St Paul, Mimi.
l have your favor of the Dist inst
advising that as a policy holder YOU are
deslrous OF ascertaining as to the finan-
Glal responsibility of the Northwestern
Life and Saving Company, of Des Moines
Iowa.
Answering. your categorical questix1s
beg to advise that said company is dulv
organized under the laws Of the state
of Iowa and has complied with the laws
OF the state of Minnesota relating to So
ance companies% and is authorized to
transact its appropriate business in this
state The company has a stipulated ex-
pehse loading under which it is required
Guiding all death losses occurring under
its ten-year endowment contracts
AS far as am aware the officers of the
company have the reputation of being
honorable business men in their commun-
ity.
AS the result of a recent examination
made by this department of the business
and affairs of this company. 1t was shown
to have a fully paid up and unimpaired
cash capital stock of 100000 as Of the
year ending Dec. 81: 1902, there being as
of that date. in addition, a surplus over
and above Al liabilities. including said
capital, of $4,000 1t also appears that
the company has deposited with the state
or Iowa trst-class securities equal to
the amount of its reserve accommodations.
under the requirements. of the statute,
which securities. with their interest ac-
foundations. will enable the company to
pay the absolute guaranteed indemnities
stipulated under its policy contracts AS
regards the sO-called ten-Year endowment
policy, the company will doubtless be
able to return at the end of the period
the amount absolutely guaranteed and It
may not be unreasonable to assume that
dividend Of from four to six per cent
may be realized by the policy holders in
excess of such absolute guaranteed in
IDENTITIES.
Very truly yours
Elmer H Deartr,
Insurance Commissioners