River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1903-03-19
State Managers

CRoWELL & SMITH,
State Managers.
ST. Paul, Mimi, Feb. 81, 1908.
Mr.. Elmer, H. Dearth, Insurance
Commissioner,
State Of Minnesota,
St. Paul, MINI.
Dear Sir:-As a policy holder in
the Northwestern Life & Savings
Co. of the state of Iowa, 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 fully complied with the old
line laws of the state of Minnesota?
Are they compelled by their con-
tracts to operate upon limited ex-
pense loading, and to pay all ex-
penses and death losses out of this
fund?
Are it's officers men of high stand
! ing and reputation?
Is the capital stock of this Com
pany fully paid up and intact?
Have they securities on deposit
with the state of Iowa which afford
a sure protection to policy holders?
On the ten years endowment pol
icy are the policy holders guar
anteed return of all money invest
ed, and what in reason may it be
expected that this company will pay
as dividend on these endowment
policies?
Trusting that you will answer
these questions fully, am,
Very respectfully yours,
Morton Barrows.
State of Minnesota,
Department Of Insurance,
Elmer H. Dearth,
Commissioner,
st. Paul, Mimi, Feb. %, 1908.
Morton Barrows, Esq,
St. Paul, Mimi,
Dear Sir:-I have your favor of
the 21st inst, advising that as a
policy holder you are DESTROYS of
ascertaining as to the financial re-
sponsibility of the Northwestern
Life & Savings Company of Des
Moines, Iowa.
Answering your categorical ques-
tons, l beg to advise that said
Company is duly organized under
the laws of the state of Iowa and
has complied with the laws of the
state of Minnesota relating to So
called old-1ine or legal reserve life
insurance companies and is author
lied to transact it's appropriate
business in this state. The Com
pany has stipulated expense load
ing under which it is required to pay
expenses of every character, includ-
ing all death losses occurring under
it's ten-year endowment contracts.
AS far as | am aware the officers
of the Company have the reputation
of. being honorable business men in
their community.
AS a result of a recent examina-
ton made by this department of the
business and affairs of this Com
pany, it was shown to have a fully
paid up and unimpaired cash CAPT
tai stock of $100,0 900 as of the year
ending Dec. 81, 1902, there being as
of that date, in addition, a surplus
over and above all liabilities, in
Guiding said capital, of $1,000
1t also appears that the Company
has deposited with the state Of
Iowa frst-class securities equal tc
the amount of its reserve accumula'
tions, under the requirements of the
statute, which securities, with their
interest accumu1ations, will enable
the Company to pay the absolute
guaranteed indemnities, stipulated
under it's policy contracts. AS re-
CARDS the so-called ten-year endow-
ment policy, the Company viii
doubtless be able to return at the
end Of the period the amount abso'
/ 1ute1y guaranteed, and it may not
be unreasonable to assume that a
dividend of from four to six pei
cent may be realized by the policy
holders in excess of such absolute
guaranteed indemnities,
Very truly yours,
ELMER H. DEARTH,
Insurance Commissioner
I Appleton, Wis, Feb. 5, 1908